An inside look at the residential real estate market in Southeast Texas including: the hottest neighborhoods, proven home selling strategies, home buying and negotiating tactics, median prices by neighborhood, average days homes are on the market, and professional advice on how to get the best deal when buying or selling a home.

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April 2014
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June 2014

May 2014

Beaumont Home Sales: What's Your Home Worth?

Here's a clip I borrowed from the Texas Association of REALTORS website. 

5-12-2014 10-23-05 AM

 

It's true.  There are a lot of online home-value-generators.  A really popular one is ZillowI like Zillow.  It has a lot of good information and its fun to look at the valuations. 

One word of advice,  "Don't base your offer or your sales price on a Zillow zestimate!"  They are often wrong and you could make a mistake that costs you several thousand dollars.  This is especially true is the home you are selling/buying is anything other than the cookie cutter house in a cookie cutter neighborhood. 

For example:  A home in with some acreage will almost always be valued wrong. 

Here's an actual example:  8863 FM 418, Silsbee.  You can see it on Zillow Here.  The Zestimate of value $181,000.  The actual sales price according to the Beaumont MLS was $160,000 and it sold in January of this year.  If you based your offer on the zestimate you would have over paid by about $20,000. 

There are a lot of examples I could post here but the whole point of this blog post is that when it comes to finding the real market value of a home you are selling or a home you plan to make an offer on is to get the advice of a professional REALTOR. 

Do you need to know the value of your home?  Contact me today.

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Vidor Home Sales: Who's Paying Cash?

An interesting thing came to my attention today when I was reviewing home sales.  It seems that quite a few buyers are paying cash these days.  Especially, in the Vidor market.  In the past four months, of the 28 home sales, 10 of the sales were cash sales. 

Take a look at this chart.

2014 Vidor Sales

Other noteworthy tips:

  • The median price of the cash sales was $72,000. 
  • Over 50% of the cash sales were foreclosures.
  • The median price of the sales that used FHA financing was $132,400.
  • There were 11 sales that used FHA financing.

If you would like to know the market sales data for your town or neighborhood, I'll be glad to provide that for you.  You can call, email or text me.   Knowledge about your neighborhood is powerful when it comes to buying or selling a home. 

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