Homes selling above asking price, numerous offers for the same property, hip-pocket listings shared only by word of mouth – it’s no secret that the North Texas housing market is booming.
To help you navigate these unprecedented home-buying and selling waters, we polled Dave Perry-Miller Real Estate Associates and collected their top tips for today’s buyers and sellers.
Buyer’s Tips *Be qualified. Pre-plan financing by meeting with a mortgage lender ahead of time and receive a pre-approval letter that may be submitted when you make a written offer. “Less paperwork and more personal attention” is more than a saying at Home Team Mortgage Company, Dave Perry-Miller Real Estate’s affiliated mortgage source. Contact Home Team Mortgage Company for a frustration-free experience from loan application to decision.
* Act quickly. In a hot market, acting slowly or sleeping on it may cost you the opportunity to buy the home of your dreams. If you’ve found a home you’d be thrilled with, don’t wait to submit an offer – other buyers will likely be doing the same.
* Offer a compelling price. Sellers often price their homes based on historical sold data or appraisals, and in a strong market where prices are rising rapidly, homes may sell for the listing price or higher. Study the sold comps, but also compare the house you want to other homes on the market, and ask yourself, “What price am I willing to pay, and at what price am I willing to lose this house?”
Seller’s Tips * Market to everyone near and far. You have the best chance of selling your home for the highest price by exposing it to the largest number of potential buyers. When you list your home with Dave Perry-Miller Real Estate, it will enjoy worldwide exposure on daveperrymiller.com.
* Respond and keep momentum. There is an old adage that time kills deals. A buyer’s interest is at a peak level at the time he or she submits an offer, so keep the momentum going, choose the best offer, and respond promptly in writing.
* Don’t be greedy. If a buyer offers an acceptable price and terms, sign the offer and your Dave Perry-Miller Real Estate Associate will schedule a closing appointment and expertly guide you through the home-inspection and closing process.
Have a buying or selling question not addressed in this post? Contact one of Dave Perry-Miller Real Estate’s offices and we’ll be happy to help in any way we can.
Contrary to popular belief, the holiday season – especially this holiday season – may actually be an ideal time to offer your North Texas home for sale! Why?
The average home sales price in North Texas is up almost 15 percent over this time last year.
Interest rates are at historic lows, which means buyers have more buying power than ever before.
Inventory of homes for sale remains at historic lows while showing activity is still tracking higher than this same time last year.
Many people are still working from home, which means a lot of them may want more space, home offices, or just a change of scenery. Combined with lighter work schedules and less (anticipated) travel during the holidays, prospective buyers may use the extra time to search for a new home.
Consumers who shop for a home during the holidays are serious, motivated buyers.
Typically there are even fewer homes on the market during the holiday season. Translation: less competition for you.
Homes “show” better when decorated for the holidays.
Many transferees are not able to wait until the spring market to buy. They are here now and need a home now.
By selling now, you’ll have an opportunity to be a non-contingent buyer during the spring, when many more houses will be for sale, which may mean lower prices. This could allow you to sell high and buy low.