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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November 2020
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January 2021

December 2020

Lumberton, Hardin County Home Sales in November

If you live in Southeast Texas, then you have likely heard that the Lumberton housing market has been on fire this year.  Homes are selling fast and prices keep going up.  Here's a look Hardin County home sales for November 2020. 

Hardin Co Nov Sales

 

The key housing statistics that stand out:

  1. The median price of a home in Hardin County is $197,000
  2. 22.4% of homes that closed were sold for $300,000 and up
  3. Homes averaged 86 days on the market
  4. There is a real shortage of homes for sale.  

A six month supply of homes for sale is considered a balanced market.  In November, Hardin County had a 3 month supply of homes for sale.  Fewer homes equals more competition among buyers and higher prices.  

If you have any questions about home sales in Lumberton or any part of Southeast Texas, send me a message, call or text.  I'm here to help with all your Southeast Texas real estate needs.

Sincerely,

Diane

 


Beaumont Home Sales in November 2020

November Home Sales Highlights

  1. 95% of home sales in November were homes priced at $399,999 and below
  2. The median price of a home that sold in Beaumont in November was up 3.9% from last November
  3. Homes averaged 86 days on the market
  4. The number of homes currently for sale is down 24% from last November

Beaumont Nov Stats

 

To get more information about home sales in Beaumont, reach out to me here on the blog or text my cell.  I'm happy to help.  

Sincerely,

Diane


Southeast Texas Home Values Forecast to Increase in 2021

$8,000 gain in Value  

The average home in the State of Texas had an increase in value in 2020 of approximately $8,000.  If you are thinking home prices in Southeast Texas are getting too high you might want to read what the economists are forecasting. Home values are expected to increase again in 2021 and 2022.  In fact, the first year of a new President's term in office has been the best of the four for the housing market.  

Homeowner Equity Increases an Astonishing $1 Trillion

Homeowner Equity Increases an Astonishing $1 Trillion | MyKCM

In a year that was financially devastating for many Americans, some good news for most homeowners is the dramatic gain in home equity over the last twelve months. Last week, CoreLogic released its 2020 3rd Quarter Homeowner Equity Insights report, which reveals four major findings:

  1. U.S. homeowners with mortgages have seen their equity increase by a total of $1 trillion since the third quarter of 2019.
  2. The average homeowner gained approximately $17,000 in equity over the past year.
  3. This is a 10.8% increase in equity over last year.
  4. The average household with a mortgage now has $194,000 in home equity.

This has given many homeowners the ability to redesign their homes to meet their changing needs. Frank Martell, President and CEO of CoreLogic, explains in the report:

“The housing market has remained a strong pillar in an otherwise tumultuous economic year. A sharp rise in demand, spurred by record-low interest rates, continues to bolster homeowner equity. And with many people now spending more time than ever before at home, some homeowners have tapped into their strengthening equity to fund renovations.”

This build-up in equity also gives more options to homeowners who have been financially impacted by the pandemic. Today, homeowners with substantial equity are in a much better position to work out a deal with their lender if they cannot pay their mortgage. Alternatively, they also have the power to sell and walk away with their equity in the form of cash or as a down payment toward a more affordable house. Frank Nothaft, Chief Economist for CoreLogic, addresses the issue in the report:

"Over the past year, strong home price growth has created a record level of home equity for homeowners…This provides an important buffer to protect families if they experience financial difficulties and is one reason for the generational-low in foreclosure rates reported."

Here’s a map showing equity gains by state:Homeowner Equity Increases an Astonishing $1 Trillion | MyKCM

This gain in home equity is a blessing for homeowners in these trying times, and it seems that the next two years will continue to reward those who own a home.

Last week, the National Association of Realtors (NAR) held their 2020 Real Estate Forecast SummitAt the summit, they shared the results of a recent survey of 23 economic and housing market experts. The median forecast among the experts called for home values to increase further by 8% in 2021 and 5.5% in 2022.

Bottom Line

In a year that has many of us reevaluating what “home” really means, those who own their homes have been rewarded with a financial windfall that averages $17,000 individually and totals $1 trillion nationally.

If you would like to know how much the value of your Southeast Texas home has increased this year, let's visit.  I can prepare a professional market analysis on your home at no cost to you.  You can reach me on the blog, call or text.  

Sincerely,

Diane


Don't Wait Till Spring to Sell Your Home in Beaumont.

Home buyers are searching for homes in Southeast Texas.  One home in Dowlen West that I listed three weeks ago has had 13 showings and we are expecting an offer.  There is no reason to wait until the typical spring selling season.  Interest rates remain historically low and home buyers are looking to buy now instead of waiting.  

Look at this article-

The Holidays Aren’t Stopping Homebuyers This Year

The Holidays Aren’t Stopping Homebuyers This Year | MyKCM

Black Friday and Cyber Monday are behind us, yet finding the perfect holiday gifts for friends and family is certainly still top of mind for many right now. This year, there’s another type of buyer that’s very active this holiday season – the homebuyer.

Each month, ShowingTime releases their Showing Index which tracks the average number of appointments received on active U.S. house listings. The most recent index notes:

“The Showing Index reported a 60.9 percent jump in nationwide showing traffic year over year in October, the sixth consecutive month to see an increase over last year.”

Here’s the breakdown of the latest activity by region of the country compared to this time last year:

  • The Northeast increased by 65.5%
  • The West increased by 64.7%
  • The Midwest increased by 55.7%
  • The South increased by 54.7%

Why is the traffic so active?

The health crisis definitely put homebuying plans on pause for many earlier this year. Buyers, however, are in the market and making moves well past the typical busy homebuying seasons of spring and summer.

One of the main reasons buyer traffic has continued to soar in the second half of 2020 is how dramatically mortgage rates have fallen. According to Freddie Mac, the average mortgage rate last December was 3.72%. Today, the rate is a full percentage point lower.

Bottom Line

There are first-time, move-up, and move-down buyers actively looking for the home of their dreams this winter. If you’re thinking of selling your house in 2021, you don’t need to wait until the spring to do it. Your potential buyer is very likely searching for a home in your neighborhood right now.

Last Thoughts

Whether you plan to sell your home in Beaumont, Lumberton or Orange this year or in 2021, let's chat.  There are things you can do now before you list your home for sale to maximize your sales price.  If you are looking for a Winter Home Selling Guide the new electronic copies have arrived.  Just reach out to me and I'll send you one.

Sincerely,

Diane


Getting Your Southeast Texas Home Ready to Sell

Welcome to my video series "Ready, Set, Sell".  Follow along with these quick video episodes, featuring advice from one of Coldwell Bankers top listing agents in Southeast Texas.  These videos will help you get your home ready to hit the market and sell for top dollar.  Today's episode focuses on things you can do in the kitchen.  

If you are thinking about selling your Beaumont, Lumberton or Orange home let's chat.  With over fifteen years experience helping home buyers and sellers I've seen successes and failures when homes are listed for sale. There are some things you can do before you list your home to help maximize the value of your home.  

Sincerely,

Diane 

Diane McNelis, Coldwell Banker Southern Homes


Things to Consider When Selling a Home in Southeast Texas

The Southeast Texas real estate market is unique.  There are certain things to know before you buy or sell a home in Beaumont, Lumberton or Orange.  

The Southeast Texas home buyer and seller guides are a professional guide offered at no cost to you.  It  is good information to have when you are in the beginning stage of selling or buying a home.  This guide can be emailed or a printed copy can be mailed. 

Experts forecast a hot real estate market this winter. Let's connect to make sure you have the most current information with the new digital buyer and seller guides

If you would like a copy, let me know and I'll make sure you get one. 

Sincerely,

Diane 

 


Selling a Home During the Holidays in Southeast Texas

Most homeowners in Southeast Texas don't list their homes in December.  Who wants to be showing their home while they are decorating for the holidays and likely have family coming to visit?

But there are some good reasons to list your home for sale in Southeast Texas, Beaumont, Lumberton or Orange during the holidays.  Watch the video for five reasons. 

If you want to wait until after the holidays to list your home that's okay too.  Let's chat when you are ready.

Sincerely,

Diane


Finding a Buyer's Agent Southeast Texas

Before you start your homebuying process in Beaumont, Lumberton, or Orange there are a few keys terms you should know.  

Key Terms to Know in the Homebuying Process [INFOGRAPHIC]

Key Terms to Know in the Homebuying Process [INFOGRAPHIC] | MyKCM

Some Highlights

  • Buying a home can be intimidating if you’re not familiar with the terms used throughout the process.
  • To point you in the right direction, here’s a list of some of the most common language you’ll hear along the way.
  • The best way to ensure your homebuying process is a positive one is to find a real estate professional who will guide you through every aspect of the transaction with ‘the heart of a teacher’ by putting your needs first.

Buyer's Representation Agreement

This document creates the agreement between you and the agent you select to help y0u with your homebuying process.  

  • The Broker will used their best efforts to assist you in acquiring a property
  • assist you in negotiating the acquisition of the property
  • and keep all discussions confidential 

If you are ready to get started on your homebuying process in Lumberton, Beaumont or any part of Southeast Texas, let's chat.  

Sincerely,

Diane

Diane McNelis, Coldwell Banker Southern Homes