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.

Selling Your Home

"As Is" Value of Flooded Homes in Southeast Texas

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I ran this post earlier this week.  I'm running it again because a lot of people are asking the question "What is my home worth if I sell it "as is" with flood damage but gutted.  

Here's the chart that I posted earlier this week. 

As Is Value

I've spent the past week driving around showing flooded homes to investors and talking to people who are thinking about selling their home "as is".   My advice is if you have any way (any way at all) to fix your home then you will come out better in the long run selling once it is fixed up.  

The sheer number of flooded homes is going to far surpass the number of buyers who can buy homes in "as is" condition.  

Here's is an example of a homes "as is" value

Pre Flood Value –            $200,0000
*15% Stigma Discount –     $30,000
After repair value –         $170,000
 
*Repair Costs –                     $60,000
20% Investor Profit –         $34,000
 
“As Is” Value -                 $76,000
 
*estimate
 
Now, the next factor to consider is how much inventory there will be of flood damaged homes.  If there are a lot for investors to choose from, this will have a downward effect on the prices.  And vice versa. 
 
Hope this helps.   These numbers are potential starting points for negotiation.  We are using our best guess since we don’t have any recent history to draw from.  Ultimately, the market will determine the sales prices.  
 
If you are considering sell your home and would like a professional market analysis, contact me.  There is no cost for the analysis.  This is a very difficult time for all of us.  Gather as much information as you can before you make any decision regarding your home.
 
Sincerely,
 
Diane
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5 Things Top Realtors in Southeast Texas Do That Other Agents Don't

Top agent tools

When it comes to listing and selling homes there are secrets that the top Realtors have learned through experience that other agents just don't know.   

Tops Realtors offer at least the following five services when selling a home:

  1. Maximum internet exposure for your home on multiple websites.  Coldwellbanker.com,  Zillow, Trulia, Homes.com, just to name a few.
  2. Maximum social media exposure on FaceBook, YouTube, and other social media sites.  
  3. A property website and virtual tour of your home.
  4. Targeted direct mail campaign to your immediate neighborhood.
  5. Professional, high resolution digital photos.  

That is just the beginning of what a top local Realtor will do to help you sell your home.  If you are thinking about selling, let me show you all the things I can do to get it sold for the right price in the right amount of time.

"Happier in a New Home?  Call me."

Diane

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Selling a Home in Southeast Texas_Tips to Get a Higher Sales Price.

A friend was asking me the other day what she could do to boost her home's value and where it makes sense to spend the money on renovations.  Here's a great video from Consumer Reports.  It gives some tips on what you can do to improve your homes value and help you get a higher sales price.

Don't worry about taking professional photos of your home.  That is a service I provide as your REALTOR.  If you'd like a professional market valuation of your home, contact me before you start getting your home ready for sale.  I can help show you what you can do to get the most bang for your buck in terms of improvements that will increase your sales price. 

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Prepping Your Home For Sale_Good Tips for Southeast Texas Home Sellers

Prepping your home for sale

Here's a quick video for anyone thinking about selling their home.  Before it even goes on the market, here's a few tips to prep your home to get it ready to be sold. 

 

 

For more tips on how to prep your home for sale, contact me.  Coldwell Banker offers a free home enhancement guide as just one of our many seller services. 

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Home Sales In Barrington Heights

2014 Barrington

  • There have been 16 sales so far this year.
  • The average days on the market is 115 with a low of 20 and a high of 289.
  • The average cost per square foot is $111.35 with a low of $94.98 and a high of $140.39
  • All information from the Southeast Texas MLS

If you want more information about ANY neighborhood in Southeast Texas, contact Diane McNelis, REALTOR, Coldwell Banker Southern Homes. 

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Beaumont Homes that Sold this February 2014

2014 Feb Homes Sales

February is not typically one the of the best months of the year for home sales.  (After all its cold and wet and who wants to go look at houses unless they have to?)

The data is from the Beaumont MLS residential data survey that is sent to The Real Estate Center at Texas A&M each month.  It does not include homes that are sold through the Mid-County MLS or the Orange MLS. 

If you are thinking about selling your home:

  1. It took 126 days for the average home to sell. 
  2. There is an 8 month supply of homes on the market which means the market is still techincally a "buyers market".

Need more information about selling your home?  Want to find out how much its worth in today's market?  Contact me.  Call, text, email.  I'll be glad to help you with your real estate questions.

 

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Selling Your Home in Beaumont. Wait 126 Days.

Are you selling your Southeast Texas home this year?  Did you know the average home took 126 days to sell in the month of January?

2014 Sales Jan Feb

  • In January there were 158 closed homes recorded in the Beaumont MLS. 
  • The average price was $111,000.  Well below the norm for the area.
  • It took 126 days on average from list to close.

 

  • In Feburary there were 147 homes that closed as recorded in the Beaumont MLS
  • The average price was $135,000.  Much closer to the norm than January.
  • It took 129 days on average for these homes to sell.

If you are planning to sell your home this year its time to get it on the market.  March through July are the best months to sell a house in Southeast Texas.  List it today and you are looking at a closing date sometime this summer.  Of course some homes sell faster than the average.  If you want to know what you can do to sell your home faster --contact me soon! 

 

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