Hi. I'm Diane McNelis, Award winning Texas Realtor(R) with Coldwell Banker Southern Homes. Selling and Buying homes in Southeast Texas can be complicated. I'm here to help. When we work together I become your advocate. My goal is to get you the best deal possible and to exceed your service expectations. On my blog, I share tips and strategies for selling and buying homes in Southeast Texas.

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August 2020

September 2020

Homes in Beaumont, Lumberton and Orange Are Selling Fast Too

Looks like homes are selling fast across much of the country.  I keep it local on the blog.  Here's how fast homes are selling in Southeast Texas.

  • Lumberton (Hardin County) 89 days on the market 
  • Vidor (Orange County) 97 days on the market 
  • Beaumont 79 days on the market
  • *For the month of August
  • *Statistics provided by the Southeast Texas/Beaumont Board of Realtors. 

 

Homes Across the Country Are Selling Fast [INFOGRAPHIC]

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Some Highlights

  • Buyers are actively searching for and purchasing homes at a record-breaking pace. According to the latest report from the National Association of Realtors (NAR), in July, 68% of homes were on the market for less than a month.
  • With homes moving from listing day to pending sale in an average of just 22 days, it’s a great time to sell a house.
  • Let’s connect today so you can make your move while buyers are scooping homes up faster than they’re coming to market.

Next week I'll be posting more Beaumont, Lumberton and Orange real estate data for the month of August.  If you want to know the average number of days homes take to sell in your neighborhood,  I can get you that information.  You can reach me on my cell.  Call or Text.  

Sincerely,

Diane


Beaumont, Lumberton and Orange Home Sales Update

Active Listings Down in 2020

The local real estate market is suffering from a shortage of homes for sale.  In Orange County the number of active listings is down 16.2% from this same time last year.  In Hardin County active listings are down 34.2% and in Beaumont active listings are down 17.8%

Inventory Shortage leads to Sellers Market

One of the key indicators of the health of the housing market is the months supply of inventory available for buyers to look at.  Six months supply is a balanced market.  Less than six months is a sellers market.  More than a six month supply is a buyers market. 

  • Hardin County has a 3.3 month supply compared to 5.2 last year this time.
  • Beaumont has a 3.4 month supply compared to 4.0 last year this time.
  • Orange County has a 4.6 month supply compared to 5.7.

Strong Buyer Demand, Low Supply, Great Time to Sell

Given the strong buyer demand driven by low interest rates, this fall is a great time to sell your home.  There is low supply meaning very little competition.  The only exception is the luxury market.  Every neighborhood in Southeast Texas has its own market data.  That is why it is so important to work with a top, local Reatlor(R) who can help you get the best deal whether buying or selling a home.  

Strong buyer demand is expected to continue the rest of the year.  If you have been thinking about selling your home.  This might be a great time.  

The Surging Real Estate Market Continues to Climb

The Surging Real Estate Market Continues to Climb | MyKCM

Earlier this year, realtor.com announced the release of the Housing Recovery Index, a weekly guide showing how the pandemic has impacted the residential real estate market. The index leverages a weighted average of four key components of the housing industry by tracking each of the following: Housing Demand – Growth in online search activity Home ...

Continue Reading

If you would like a complimentary market analysis to know what your Southeast Texas home is worth.  Contact me. Call, text, fill out the form here on the blog.  I'm always happy to help. 

Sincerely,

Diane


Westchase Neighborhood Real Estate Update

Westchase Update 2020

 

If you read the blog often then you know I keep a close eye on the Westchase Neighborhood in the West-end of Beaumont.  Today's post looks at home sales in Westchase this year from January - September 14, 2020.

New Construction in Westchase

Bill Little is building new construction homes in Westchase.  2620 Village is a recent closing that was one of his newly built homes.  It is also the highest cost per square foot closing this year.  This home sold for $634,887 or $147.24/SF.  

One Foreclosure

Not often found in Westchase, there was one foreclosure sold this year.  It was the lowest $/sf sale which you might expect.  It closed at $112.45/SF.  

12 Sales

To date in 2020 there have been twelve closings in the Westchase Neighborhood.  This is a popular neighborhood for buyers relocating to Beaumont with the oil and gas companies.   The average price of homes that sold this year is $330,491.  The most affordable was $247,500.  The most expensive $634,887.  

What Neighborhood Are You Interested In

If you would like to know the 2020 sales history of any neighborhood in Beaumont or Lumberton or any part of Southeast Texas, contact me here on the blog, text, email.  I respond as soon as I can.  If you are looking to buy or sell a home in Westchase - Let's talk.  Hope you enjoyed the post.  

Sincerely,

Diane


Beaumont and Lumberton Texas Sellers Guides are Here.

Selling a house this fall or thinking about selling

The new Fall 2020 sellers guides are available.  This guide tells:

  • What's forecast for the rest of the year
  • How to leverage your equity 
  • What you can do now to get your house ready to sell
  • Technology used by the top listing agents to sell a home in today's market
  • Why Pricing Right Matters

Complimentary, No Cost

If you live in Southeast Texas and would like one of the seller guides just contact me here on the blog.  Email or text me and I'll get one to you.  If you have questions about real estate or are curious about the latest home sales data for your neighborhood I'm here to help.

Sincerely,

Diane


Beaumont Home Sales. How 2020 compares to 2019.

A Source of Local Home Sales Information

As a local Realtor(R) one of my go to resources for the most accurate housing information for Southeast Texas is  The Real Estate Center at Texas A&M .  Here's a look at the home sales activity for the Beaumont area for the last three years.  

I attended a virtual webinar last week.  One topic was the unusual home sales pattern in 2020.  See below.  The year started strong with January and February having the highest homes sales activity of the past three years.  Then COVID shut downs began and home  sales activity dropped  sharply in March, April and May.   We saw pent up demand increase sales sharply in June.  July was a little ahead of the last two years.  We are waiting on August homes sales info for Lumberton  and Beaumont to be released from the Board of Realtors.  

What Should We Expect this Fall in Southeast Texas

The economists predict strong home sales in October.  Followed by slow sales in November as the country prepares for the election.  Followed by strong sales in December and into next year.  See what the experts say below. 

 

Home Sales 3 year A&M Chart

 

 

 

 

 

 

Homebuyer Demand Is Far Above Last Year’s Pace

Homebuyer Demand Is Far Above Last Year’s Pace | MyKCM

Homebuying has been on the rise over the past few months, with record-breaking sales powering through the market in June and July. Buyers are actively purchasing homes, and the momentum is continuing into the fall. It is, however, becoming harder for buyers to find homes to purchase. If you’ve been thinking about selling your house, the coming weeks might just be the timing you’ve been waiting for.

According to the Pending Home Sales Report from the National Association of Realtors (NAR):

Pending home sales in July achieved another month of positive contract activity, marking three consecutive months of growth.

The Pending Home Sales Index (PHSI), a forward-looking indicator of home sales based on contract signings, rose 5.9% to 122.1 in July. Year-over-year, contract signings rose 15.5%. An index of 100 is equal to the level of contract activity in 2001.”

This means that for the past several months, buyers have signed an increasing number of contracts to purchase homes – well above where the market was at this time last year. Lawrence Yun, Chief Economist at NAR notes:

“We are witnessing a true V-shaped sales recovery as homebuyers continue their strong return to the housing market…Home sellers are seeing their homes go under contract in record time, with nine new contracts for every 10 new listings.”

Below is a graph that shows the impressive recovery of homes sales compared to previous years. The deep blue v marks the slowdown from this spring that turned into an exponential jump in sales that followed through the summer, skyrocketing above years past:Homebuyer Demand Is Far Above Last Year’s Pace | MyKCM

What Does This Mean for Sellers?

If you were thinking about putting your house on the market in the spring, but decided to wait due to the health crisis, it may be time to make your move. Buyers are in the market right now. With so few homes available to purchase, homeowners today are experiencing more bidding wars, creating an optimal time to sell.

Is This Trend Going to Continue?

As CNBC notes, there are no signs of slowing buyer demand this fall:

The usual summer slowdown in the housing market is not happening this year. Buyers continue to show strong demand, spurred by the new stay-at-home world of the coronavirus and by record low mortgage rates.”

Danielle Hale, Chief Economist at realtor.com, concurred:

“In a typical year in the housing market, buyer interest begins to wane before seller interest causing the usual seasonal slowdown as we move into the fall. Due to a delayed spring season and low mortgage rates, we could see buyer interest extend longer than usual into the typically quieter fall. Whether this means more home sales will depend on whether sellers participate or decide to stay on the sidelines.”

As Hale mentioned, homeowners who are willing to sell their houses right now will play a big role in whether the trend continues. The market needs more homes to satisfy ongoing buyer demand. Maybe it’s time to leverage your equity and move up while eager home shoppers are ready to purchase a house just like yours.

The Take Away For Beaumont Home Buyer's and Seller's

If your current home doesn’t meet your family’s changing needs, let’s connect to help you sell your house and make the move you’ve been waiting for all year.  You can reach me on the blog.  409Sold.com.  Call or text.  I'm always available to help with your real estate questions.

Sincerely,

Diane


Maximizing the Sales Price of Your Home in Beaumont Texas

Selling Your Home in 2020

There is still time to sell your home in 2020 but time is running out.  The average number of days a home is on the market in Beaumont Texas is around 103 or roughly 3 1/2 months.  We just started September.  Happy Labor Day Weekend coming up!   So if you are thinking about selling your home in 2020 it is time to get serious about listing it.  

Before you list

Here's a handy checklist of a few things to do before you call a professional listing agent to help you sell your home.  And, yes there are agents that specialize in listing and marketing homes for sale.  Don't think that every agent can or will do the same things to market your home.  You want to find one of the Top Listing Agents in Beaumont.  

Fall 2020 Home Sellers Guide

If you are seriously thinking about selling your home in Beaumont, Lumberton, Orangefield or any neighborhood in Southeast Texas I have a complimentary Home Sellers Guide design to help sellers this Fall.  If you would like a complimentary copy call, text or email me.  I'll email it to today. 

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I hope these simple tips help you get started working on getting your home ready to sell at the best price possible.   If you'd like a professional home valuation fill out the "What's my Home Worth" form here at the top of the blog.  

Let me know if I can help.

Sincerely, 

Diane


Three Advantages to Buying New Construction in Beaumont and Lumberton Texas

When I pulled the Southeast Texas MLS data just a few minutes ago, a search for complete new construction homes gave me forty seven (47) results.  When I search for all active listings there are over 1,300.  One disadvantage of buying new construction is the limited availability.  But let's talk about the advantages of buying a new home in Beaumont.  

With new construction one thing is obvious:  everything is new!  With brand new you can expect minimal upkeep and maintenance for the first few years.  The second advantage with buying a new construction home you can check out the builder reputation on multiple sources.  You can't always do this with a resale.  The third advantage of buying new construction is less worry about a home inspection and underlying repair issues that will have to be negotiated in the escrow process prior to closing.  

Should You Buy an Existing Home or New Construction?

Should You Buy an Existing Home or New Construction? | MyKCM

Finding the right home to purchase today is one of the biggest challenges for potential buyers. With so few homes for sale and construction of newly built homes ramping up, you may be wondering if you should consider new construction in your search process. It’s a great question to ask, and one to look at from the pros and cons of what it means to buy a new home versus an existing one. Here are a few things to consider when making the best decision for your family.

New Construction  

When buying a new home, you can often choose more energy-efficient options. New appliances, new windows, a new roof, etc. These can all help lower your energy costs, which can add up to significant savings over time. With programs like ENERGY STAR, your home also helps protect the environment and reduces your carbon footprint.

Lower maintenance that comes with a newer home is another great benefit. When you have a new home, you likely won’t have as many little repairs to tackle, like leaky faucets, shutters to paint, and other odd jobs around the house. With new construction, you’ll also have warranty options that may cover portions of your investment for the first few years.

Another solid benefit to new construction is customization. Do you want a mudroom, stainless steel appliances, granite countertops, hardwood floors, an office, or a multipurpose room to homeschool your children? These items can be customized to your specific needs during the design phase. With an existing home, you’re buying something that’s already completed, so if you want to make changes, you may need to hire a contractor to help get your home ready for your family.

Existing Home

When buying an existing home, you can negotiate with the current homeowner on price, which is something you generally don’t get to do with a builder. Builders know their material and construction costs, and they have a price set for the model you’re buying. So, if you want to negotiate, then maybe an existing home will be best.

For many families, having an established neighborhood is also important. Some buyers like to know the neighbors, if it’s family-friendly, and traffic patterns before making a commitment. When you buy new construction, you won’t have a full view of some of those details until the lots around you are sold.

Finally, timing comes into play. With an existing home, you can move in based on the timeline you agree to with the sellers. With new construction, you need to wait for the house to be built. Depending on the time of the year you’re buying and the region you’re in, the weather can also be a factor in the timeframe. This is something really important to keep in mind, especially if you need to move sooner rather than later. Over the past few months with COVID-19 and social distancing regulations, some areas for new construction have been delayed.

Bottom Line

Whether you want to buy a newly built home or one that’s already established, both are great options. They each have their pros and cons, and every family will have different circumstances driving their decision. If you have questions and want to know more about the options in our area, let’s connect today so you can feel confident making a decision about your next home.

Want the list of 47?

If you would like a list of the forty seven complete new construction homes that are available for purchase in the Southeast Texas market.  Contact me.  Text, call, email.  I respond to them all.  Right now there are only three complete new construction homes in Lumberton, five in China and five in Beaumont W4.  

Sincerely,

Diane