Buyers/Sellers

Don’t Wait To Sell Your House! Buyers Are Out Now | Highland Shores, Highland Village, TX

Finding a home for buyers right now is still challenging in the North Texas area. Especially first time homebuyers. Sellers are realizing that now is the perfect time to sell, with high demand, however, the interest rates are starting to tick-upwards and this will cause a slight decline in buying power for the buyers. Now is the time to sell if you have been on the fence.

Don’t Wait to Sell Your House! Buyers Are Out Now | Simplifying The Market

Don’t Wait to Sell Your House! Buyers Are Out Now

Recently released data from the National Association of Realtors (NAR) suggests that now is a great time to sell your home. The concept of ‘supply & demand’ reveals that the best price for an item is realized when the supply of that item is low and the demand for that item is high.

Let’s see how this applies to the current residential real estate market.

SUPPLY

It is no secret that the supply of homes for sale has been far below the number needed to sustain a normal market for over a year at this point. A normal market requires six months of housing inventory to meet the demand. The latest report from NAR revealed that there is currently only a 3.6-month supply of houses on the market.

Supply is currently very low!

DEMAND

A report that was just released tells us that demand is very strong. The most recent Foot Traffic Report (which sheds light on the number of buyers who are actually out looking at homes) disclosed that “foot traffic grew 10.5 points to 52.4 in March as the new season approaches.”

Demand is currently very high!

Bottom Line

Waiting to sell will only increase the competition between you and all of the other sellers putting their houses on the market later this summer. If you are debating whether or not to list your home, let’s get together to discuss the conditions in our market.

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Don’t Miss Out…Super Charge Your Home Search | Homes for Sale, Highland Village, TX

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Investors

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Home Sellers

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What Does a Home Inspection Check?

A home inspector will look at everything.  Home inspectors have a 1,600-item checklist, according to the National Association of Home Inspectors and the average home inspection can take three to four hours – or even more if you have additional inspections, such as termite inspections, included.
Here are just some of the areas checked during a home inspection:
  • Grounds: Standing water, faulty grading, sick or dying trees and shrubs, crumbling paths and walls
  • Structure: Foundation integrity, rotting or out-of-plumb window and door frames
  • Roof: Defects in shingles, flashing, and fascia; loose and hanging gutters; defects in chimneys and skylights
  • Exterior: Cracks or rot; dents or bowing in vinyl; blistering or flaking paint; adequate clearing between siding and earth
  • Window, doors, trim: Rotting frames, peeling caulk, damaged glass
  • Interior rooms: Water-stained ceilings, adequate insulation, and sufficient heating vents
  • Kitchen: Proper venting, no leaks under the sink, and cabinet doors and drawers operate properly
  • Bathrooms: Toilets flush properly, showers spray, and tubs are securely fastened
  • Plumbing: Drains flow properly; water has proper temperature and pressure
  • Electrical: Proper electrical panels and working light switches and outlets
Home inspections are non-invasive, meaning your home inspector will not be breaking into walls or under tile floors, for example, to be able to inspect what lies beneath or within.
We believe you need a trusted and highly skilled inspector when purchasing a home and we have an inspector list that we recommend for our clients.

♛ Buyer Demand Is Outpacing the Supply of Homes for Sale

Buyer Demand

The price of any item is determined by the supply of that item, as well as the market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.

Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).

Buyer Demand

The map below was created after asking the question: “How would you rate buyer traffic in your area?”

Buyer Demand Is Outpacing the Supply of Homes for Sale

The darker the blue, the stronger the demand for homes in that area. Only six states had a weak demand level.

Seller Supply

The Index also asked: “How would you rate seller traffic in your area?”

As you can see from the map below, the majority of the country has weak Seller Traffic, meaning there are far fewer homes on the market than what is needed to satisfy the buyers who are out looking for their dream homes.

Buyer Demand Is Outpacing the Supply of Homes for Sale

Bottom Line

Looking at the maps above, it is not hard to see why prices are appreciating in many areas of the country. Until the supply of homes for sale starts to meet the buyer demand, prices will continue to increase. If you are debating listing your home for sale, meet with a local real estate professional in your area who can help you capitalize on the demand in the market now!

Make it A Great 2017

If your thinking about buying or selling you home, you need to consider using a professional to help you navigate the journey.

HireAnAmateur

We can help you put all the pieces together.

LOCAL EXPERTISE

With first hand knowledge of the market, in our area, we run stat reports for the trends from one neighborhood area to another-yes they can be different. Are homes selling for 97% or 101% of asking price? How do you know what the best offer is when selling your home…is it really just the sales price? What does it take to win when a buyer is in multiple offers? What is the inventory like…the absorption rate? We help you understand the different dynamics of accepting an offer or presenting an offer and our consulting skills help you understand your options so you can make intelligent choices.

ACCESS TO HOMES

Whether buying or selling a home there needs to be good access to the home. Buyers usually need a Realtor® or agent to access a home-unless it is an open house.  The good news for a buyer is it costs the buyers nothing to hire a Realtor®. Seller’s generally find having an agent is a much safer alternative than just allowing anyone into their home. The use of a secure lockbox that only a buyers agent has access to is generally the best way for allowing buyers access to tour the home. If you are considering FSBO, consider your safety…who is actually coming into your home and why are they really there?

NETWORKING POWER

As a REALTOR® who has worked with many service providers over the years, we can recommend excellent trustworthy lenders, inspectors, title companies and even lawyers, if the need arises. We have a special list of local service providers who we trust and can recommendation, from interior designers, stagers, plumbers, electricians, handymen and other service trades throughout the real estate transaction and when you hire us we are happy to share these resources.

YOUR ADVOCATE

When we represent you, you’ll have an experienced advocate and negotiator. Buying a home is an emotional process. For most people, it’s the biggest transaction of their life and it’s often done during other major life changes, such as a job relocation, “right” sizing for a growing family or empty nesters, or in the unfortunate event of a job loss, a bankruptcy or even a divorce. Strong emotions and stress can muddle ones judgment – this can cause you to make a decision you might later regret.

As your agent, we look at a transaction from a business perspective with an experienced, clearer and unemotional perspective. We can help you better understand your options, and serve as a balance against making decisions that might be reckless. Sometimes even family member who are trying to protect you may even give you advice that is incorrect.

When at the negotiating table, we are your advocate…we treat your money like it is our money. Money is an emotional issue and we’ll get you the best deal possible, without letting strong feelings get in the way. At Triple Crown Realty, this is particularly true – we want you to be 100 percent satisfied with the home you purchase.

COST

On the buy-side, an agent services are free. Some believe that they’ll save money by not using an agent to buy a home. This isn’t true. The entire commission on a home purchase is paid by the seller to the seller’s broker, who in turn gives part of the commission (usually half) to the buyer’s broker.

It’s tempting to think that if you don’t use an agent, you will save money, but this is generally not the case. Before the listing even goes on the market, the commission rate is agreed upon via a listing agreement contract with the listing agent and the seller. If you as a buyer, decide you don’t need representation from a buyer’s agent, the entire commission is then paid to the listing agents broker. The listing agents broker would have to agree to change the listing agreement contract to cut you in on part of that compensation, and this is highly unlikely.

DOCUMENT AND TRANSACTION DETAILS

Drafting or receiving a contract can be complex and knowing the contract inside and out is very important. As you can imagine, every –i- must be dotted and every –t- must be crossed, because there are 100 pieces of paper requiring upwards to 43 signatures and initials, and making a mistake can be very costly to you.

Every item in the contract is important. Failing to know the importance of certain line items could cost you a lot of money down the road. Knowing what to look for or how to write an offer with the the best possible terms allows us to ensure your interests are protected and that your offer is accepted.

Why it is important to use a full time experienced REALTOR®? Every transaction has 100 to 150 phone calls alone, and each one of them is loaded with critical details.  How does it make you feel knowing that there are 43 different people from 14 different industries who get involved during the seven stages of your transaction?

FIND THE RIGHT FIT

It’s important that you find an agent that is dedicated, knowledgeable about the different aspects of the transaction and has no conflict of interests. It is important they are committed to you! We believe good communication, transparency and working hard for our clients is very important… for you choosing the right agent is just as important as making sure a home is the right fit for you!