Spring selling season is upon and the real estate market is heating up.  The majority of the activity in the Spring Texas real estate market is occurring in the first time home buyers price ranges.  The first time home buyers are out and wanting to take advantage of the $8,000 first time home buyer tax credit before it disappears. 

If you are thinking about selling your Spring Texas home this summer, take a moment and watch the following video to learn how to avoid the major mistakes made by most sellers.

Additional information on selling your home is available in our Spring Texas home seller information section.

Written by:  Jill Wente - 281.804.8626

Right about the time my Spring Texas home buyers are admiring how beautifully the stainless steel refrigerator matches the other the stainless steel kitchen appliances is when they will turn to me and ask “Does the refrigerator stay with the house?”  Usually, my answer is “I am sorry but the the refrigerator does not stay with the house”.

There are numerous items that do stay with the Spring Texas house you purchase and our Texas Residential Real Estate Contract goes into explicit detail outlining these additional items. The items are broken down into the two categories of Improvements and Accessories. 

Improvements are all other fixtures and improvements attached to the property including the following permanently installed and built-in items:  all equipment and appliances, valances, screens, shutters, lighting fixtures, chandeliers, ceiling fans, water softener system, garage door openers, shrubbery, landscaping, and outdoor cooking equipment.

Accessories are fireplace screens, curtains and rods, blinds, window shade, draperies and rods, swimming pool equipment, and artifical fireplace logs.

These items all seem self explanatory but there are other items such as surround sound speakers, playsets, and potted plants that are left up to the interpretation of the buyers and sellers as to whether they stay with the house.  Interpretations of what stays with the house have quickly ended more contract negotiations than what you probably think.

If you are wondering whether an item goes or stays with the house, my advice to you is just ask the seller.  Don’t make any assumptions that could later turn into a heated battle between you and the sellers.

If you are selling your Spring Texas home, my advice is before you put your house on the real estate market take down everything you want to take with you.  If the buyers don’t see an item, they won’t want it to stay with the house.  If you must leave an item out that you are planning on taking with you clearly identify the item as an exclusion on the home’s listing.

Read also:

• Top 30 things to do before putting your home on the real estate market

 Written by:  Jill Wente - 281.804.8626

What is a sellers leaseback?  A sellers leaseback is a temporary residential lease between the sellers and buyers whereby the sellers lease back the home they sold from the buyers for a short period of time. 

Why would a Spring Texas home seller want a sellers leaseback? - If you need the funds from the sale of your home to purchase your next home, you would want a sellers leaseback.  Ordinarily when you sell your home possession of the home transfers to the buyers upon closing and funding. 

If you need the funds from the sell of your home before you can purchase your new home, you are left with no time to pack up, move, and clean the home you sold before you have to transfer possession to the new buyers. 

A sellers leaseback eliminates a potential logistic nightmare and having your possessions sitting on a moving van in limbo waiting for one home to be sold and another to be purchased.

If you are moving from the home you are selling into an apartment a sellers leaseback eliminates the risk of you incurring unnecessary expenses.  You have to turn over possession of  your home upon closing and funding and in order to do so you have to move your possessions and clean the home in advance of the closing.  But what if the buyers loan falls through at the 23rd hour and they can not close on your home?  You have already moved out of your home and incurred the expense of moving.  You then have to decide if you want to incur the expense of moving again and move back into your home or incur double living expenses.  Another good reason to negotiate a sellers leaseback of your Spring Texas home.  

How common are sellers leaseback? - A sellers request for a leaseback is a common occurrence and buyers are usually understanding and willing to accommodate the request. 

How much should you expect to pay on a daily basis to rent your home from the buyers or new landlords? - You should expect to pay 1/30th of what it costs the buyers for homeowners insurance, real estate taxes, mortgage insurance, principal, and interest per day.  The sellers leaseback is not meant to be a money making opportunity for the buyers but it is meant to make the buyers financially whole.  

As Spring Texas home sellers, just remember the buyers are doing you a favor by agreeing to become landlords because in the majority of home purchases buyers are wanting to live in the home.  They are not purchasing the home for investment purposes and do not want to be landlords.

Read also:

• Things that do and things that do not determine the value of your Spring Texas home.

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The latest MLS numbers for the Spring Texas Real Estate market are in and all you have to do is look at the months of inventory of the various home price ranges to discover where the buyers are.   

The months of inventory for homes priced between:

• $100,000 to $189,999 are 4.1 to 5.5 months
• $190,000 to $399,999 are 6.2 to 8.4 months
• $400,000 to $1 million+ are 10 to 22.8 months

The stock market’s impact on the investment portfolio of the over $400,000 home buyer has caused this group of buyers to develop a wait and see mentality.  These home buyers are in no rush to increase their expenses by purchasing a more expensive home.  

On the other hand, we are experiencing an increase in activity for homes in the lower price ranges.  As word spreads about the $8,000 first time home buyers tax credit and the lowest home mortgage interest rates on record, first time home buyers are in the Spring Texas real estate market and are looking to cash in. 

The indecisive of home buyers in the lower price ranges is causing them to lose out on the homes they want. Homes I have shown to buyers two weeks earlier are now in contract by the time they want to view the homes again.

Months of inventory for the Spring Texas real estate market is sitting at 5.6 months which is over a month less than last year.  The days on market for the month has crept up a bit over last year to 100 days versus 88 days. 

If you are thinking about selling your Spring Texas home and the value of it is less than $190,000, now is the time to put your home on the real estate market. Buyers are out in the lower price ranges and good houses are in demand. 

If the value of your home is over $400,000, I recommend you waiting to put your house on the real estate market.  Homes at the higher price ranges are slow in moving which translates into your home be on the market longer and more inconvenience for you.

Give me a call at 281.804.8626  if you are ready to put your Spring Texas home on the real estate market.

Read also:

• Mortgage interest rates make history
• What’s the value of your Spring Texas home?

 The data represented is from the Houston Association of Realtors MLS for existing homes in Area 13. Area 13 covers the geographic boundaries of East - I45 to West - Hwy 249 to South - Beltway 8 to North - Spring Cypress.

Written by:  Jill Wente - 281.804.8626

If you are going to be a first time Spring Texas homebuyer, you will want to know how long you can expect a home’s components to last.  Because when something breaks and needs to be replaced there is no landlord to call. The financial burden is all up to you to shoulder.

According to a study performed by the National Association of Home Builders (NAHB), the average useful life is

 5 - 10 Years:   Carpet (8 - 10 years), Dishwasher (9 years), Microwave oven (9 years)

10 - 20 Years:   Air Conditioners (10 - 15 years), Water Heaters (10 years), Furnaces (15 - 20 years), Faucets & Kitchen sinks (15 years), Gas Range (15 years), Interior & Exterior paints (15 years), Garage Doors (10 - 15 years), Asphalt shingle roofs: (20 years)

20 - 30 Years:  Tankless water heaters (20 years), Shower Doors (20 years), Interior doors (30 - 50 years), Thermostats (35 years)

30 - 100+ Years:  Kitchen cabinets (50 years), Vinyl floors (50 years), Gutters (50 years), Tile flooring (75 - 100 years), Brick siding (100+ years)

Keep in mind that the actual life of your Spring Texas home’s components will vary from the NAHB’s study. Depending upon how you maintain your home, the quality of the product, and our climate, the product may need to be replaced before the end of its estimated useful life. 

And how long should you expect that wallpaper to last?  FOREVER …  so choose wisely, very wisely.

With the busy Spring selling season almost upon us, I thought it would be a great time to share some tips with potential Spring Texas home sellers on how to become a successful seller.

Tips for success:

1.  Staging is essential.  Buyers do not get excited about homes that look “lived in”.  Buyers want to purchase homes that look like model homes. Homes free of clutter and personal collections. Homes with no deferred maintenance items.

2.  Price it Right.  Don’t fall victim to the mentality of ”Let’s try this price because we can always lower it”.  Incorrect pricing eats up days on market and the longer Spring Texas homes are on the market the LESS money the sellers will pocket. Why? Because not only does the listing lose its freshness but also buyers will wonder what’s wrong with the home. Why has nobody bought it?

3.  Fish where the fish are.  With 87% of home buyers using the Internet in their search for homes, you need to hire a Spring Texas Realtor who knows how to and will market your home on the Internet.  Things change and how buyers find homes have changed too.

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There are things that affect the value of your Spring Texas home and there are things that have no affect at all on your home’s value. 

The things that do impact the value of your home are:

1.  Amenities - what are the features of the home?  Does the home have granite or laminate or tile counter tops?  Does the home have plantation shutters or mini-blinds?  Does the home have wood, tile, carpet, laminate, or vinyl flooring?  Does the home have extensive landscaping or none?

2. Condition - does the home have deferred maintenance items in need of repair? Are the carpets worn?  These will negatively impact the value of your Spring Texas home and by even more than the cost to repair or replace the items. The majority of buyers do not know what it will cost to repair an item so the tendency is for them to over estimate the cost.

3.  Location - a golf course or lake view increases a home’s value while homes backing up to commercial property, an apartment building or a busy street decreases the value of the homes.

Things that do not impact the value of a home but sometimes sellers wish they did are:

1.  What you paid for the home - it does not matter what you paid for the home. The only thing that matters is what the next buyer will pay for the home.

Read More »

Every year around Thanksgiving, I will be asked by one of my sellers if they should take their home off the Spring Texas real estate market during the Holidays.

My answer is “It depends”. If your reason for selling is because of lifestyle, your time frame is flexible, and you do not want to be inconvenienced with showings during the holidays, then my answer is “go ahead and take your home off the market”.

If you have your home on the real estate market for ANY OTHER reason, then my answer is “keep it on the market”. 

Yes, it is true there are less buyers viewing homes during the holidays. But the buyers are more motivated and less “lookers”. 

So before you decide to take your home off the Spring Texas real estate market for the Holidays, consider these reasons for keeping it on:

• Not all buyers celebrate the same Holidays. It may be the Holidays for you but not for the buyers of your home.
• Your Holiday decorations increases your home’s curb appeal.
• Employers relocate their employees during all months of the year. Not just the Spring and Summer months.
• The Spring Texas weather during November and December is still very pleasant. Rarely and I do mean rarely do we have snow. Its a great time for buyers to be out viewing homes.
• Buyers have a little more time during the Holidays to view homes because they have vacation days that have to be used before the end of the year.
• There are fewer homes on the real estate market. Translating into less competition and increasing your home’s probabilities of selling.

Now I wish I could tell you with 100% certainty that if you keep your Spring Texas home on the market during the Holidays, you will be given the gift of a buyer. But unfortunately I can not.

What I can tell you with 100% certainty is if your home is NOT on the market it WILL NOT SELL. This I know.

According to the recently released 2008 National Association of Realtors Profile of Home Buyers and Sellers, 87% of buyers used the Internet in searching for homes which is no small number.

The survey also revealed where buyers first learned about the home they purchased. With 34% of the buyers saying real estate agent, 32% the Internet, 15% yard signs, 7% saying from friend, relative, or neighbor, 7% from home builders, 3% from a print or newspaper ad, 2% directly from the seller, and 1% saying a home book or magazine.

No real surprise in the survey as to where buyers are searching for homes. Buyers are on the Internet. And due to the large number of real estate websites, buyers are searching for homes not on one but several real estate websites. 

A strong online marketing presence is crucial to exposing your home to potential buyers.  Because the days of placing a sign in the yard, taking a few photos, and sticking the listing in the local MLS are gone. They are antiquated methods and NOT effective in selling homes.  

If you are interested in having your Spring Texas home’s listing where the buyers are, give me a call at 281.804.8626. I will be happy to share with you my marketing strategy which includes having your home’s listing on a smorgasbord of real estate websites.

Including the real estate sites of Realtor.com, Yahoo.com, MSN.com, AOL.com, Zillow.com, Trulia.com, Homes.com, Move.com, HAR.com, Homescapes.com, Google Base, Frontdoor.com, Roost.com, Hotpads.com, Vast.com, Geebo.com, OLX.com, Craigslist.com, Oodle.com, Frontdoor.com, Houston.org, Homestore.com, Prudentialproperties.com, Prudential.com, Activerain.com, Localism.com, Garygreene.com and other real estate sites. 

You probably have not heard of the majority of these websites, but the buyers have. And when you are selling your home you need to be where the buyers are.  

Read also:

• More photos = more money when selling Spring Texas homes
• All real estate sites have the same listings - True or False?