Category Archives: Home Selling

Time is of the essence

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Last week I found myself saying “time is of essence” for varied reasons.   In matters of real estate, it is required for compliance on time sensitive matters.  Option money needs to be receipted within 2 days of the executed date of the contract.  It doesn’t matter if it’s Sunday, or even Good Friday, as my case was.  Earnest money needs to be deposited within 2 business days, with the title company.  

Sometimes, time matters, in terms a response to an offer.  Nobody likes waiting. Seller’s don’t like to, and neither do Buyer’s, there is always one side that is full of hope and anticipation, and there in that feeling lies the joy in what I do.

I support local Austin; after all I think it’s only neighborly.

Energy Audit misdemeanor

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I had many conversations last week with fellow agents in regard to the energy audit.  Word on the street, is that if you want to try to get an exemption, it is best to call them rather than email.  

The mandatory performance of an energy audit upon property sale is not a Real Estate law; this is a City Ordinance specific to Austin Energy customers.  Will you still close, if you don’t have one?  The answer is yes.  It is my understanding, that if the deed is recorded without the audit recorded with it…the Seller will be fined in accordance with a Class C misdemeanor.  Are we having fun yet?

I support local Austin; after all I think it’s only neighborly.

Do what your mother told you – pick up your underwear

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Selling a home can be challenging, between homes not appraising, buyers unable to obtain loans, throw in a hail storm (which can literally blow the roof off a deal) and you often feel like you’ve scaled Mt. Everest when you actually get to the closing table.  Having no control over many aspects that can go wrong, only makes taking control of things we can…that much more important.  

I often tell buyers, when its meant to be – it will, but that wisdom very much applies to Seller’s as well.  There isn’t always a logical reason why one house sells faster than another, sometimes it is an emotional one.  We don’t post remarks like wood flooring matched color of grand piano, or bedroom paint color matched bedding buyer already had.  Again – I didn’t say it was logical.

What should be logical for Seller’s are things like putting underwear away or picking up toys so that you can walk into a room.  Yes, some of the homes I saw last week defied logic.

I actually told a Seller last week that when he was serious about selling his home – to give me a call.  If they know you are coming…and still can’t pick up the underwear, are they serious Sellers?  You instantly get the message that they don’t really care to sell it.  Again – an emotional response, not typically the truth.   You want someone to buy it, right?  Serious Sellers will attract serious Buyers that really want to get to that closing table, so its important to send the right message.

Buying a house can be like buying a car when it comes to resale

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I taught the Buyer Consultation class to new agents this week. When you are buying a home, especially in an area where there is still building going on, you need to be mindful of reselling it. If you are planning on selling in less than 3 years, you may very well be competing against new construction. One year young – is not new. You will not be able to price your home equal to a new build, if all other things, like lot location, are equal. This is why certain areas have excess inventory right now.

The Resale market slowed down in price points over $500,000, especially in areas where new construction going on. Why buy used, when you can buy new? If your home is listed for resale in these areas, you need to be competitively priced. Its like picking a car off the lot, instead of ordering one. I always say money has a way of making things disappear. So, maybe you can’t ‘pick your colors’ as with new construction, but if a buyer can save some money on your resale…you may be able to make that existing paint color vanish.

What’s New?

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So, what’s new?

It’s a simple question that can be answered in a variety of ways; from long explanations to one equally simple word “nothing”.  The same holds true in real estate.  When I am on a listing appointment, I have the Seller take me on a tour of the home.  In every room, I ask ‘What’s new?’ or ‘What have you done, since your purchase’.  Did you paint, install new fixtures, whatever it is – I want to know.

Understand, improvements that a Seller has made will often be translated in a Buyer’s mind, as improvements that won’t need to be done for a while.  When a Buyer walks through a house or sees a list of new things, the Buyer internally says “Great new water heater, so I won’t have to worry about that for a while.”  Even the little things that are done to a house can add up and appeal to a Buyer.  The perception is that the house has been maintained, as needed, all throughout the Seller’s time owning it.

As a Listing Agent, I always print a list of improvements to leave for potential Buyer’s Agents and Buyers.  I even go the extra step and post it online.  It instantly answers the question ‘what’s new’, so buyers can enjoy their visit, without wondering what has been done.

What’s new in Austin Real Estate?

What’s new in real estate for the housing market now in Austin and Central Texas?  Go to my main page for the latest articles with current housing market data.   Need more real estate news?

Find me on Facebook at https://www.facebook.com/supportlocalaustin/ and on LinkedIn.

You can learn more about me on my Linkedin home page, I post on both sites 5 days a week.

Time Travel

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There are certain areas of Austin that cannot be ignored when it comes to attracting families, and Circle C is certainly one of them.  The top reasons it remains one of the most family friendly master planned neighborhoods are its well rated schools, easy access to the highway for commuting, great recreational area and a golf course.  Did you know it has the only heated Olympic sized pool in Austin?

I pointed these fun facts out last week on a listing appointment, because sometimes owners forget what they have when they are selling a home.  Remembering why they bought the house from the inside is usually easy. The area amenities are often forgotten though, and are just as important.  Sometimes, it’s just like anything else – you’ve been driving by that recreation center for so long – that you just kind of forget it’s there.  The same holds true with the pool; no one in the family uses it anymore; so again, it’s just not important.

I even went on a listing appointment last year at a house on Lake Austin and I mean with a 180 degree view of the channel.  Do you know the owner said to me, “you know Doreen; I don’t even see it anymore”.

Amenities, like everything else, are often desired more at certain times in your life.  You tend to gravitate to these things as a Buyer, more than you do when you are a Seller, because you are buying into the lifestyle that the amenities are going to afford you.  When you are the Seller, those same things just aren’t as important anymore, because other things are more important. This is where time travel comes in.  At the closing table the buyer and the seller are typically very similar, but just at different points in time.

I support local Austin; after all I think it’s only neighborly.

Real Estate purchases from friends and family

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I had a call last week from a former client considering purchasing a house from a good friend. He just wanted me to advise him on the pros and cons of buying a house from someone you know. The best advice I could give him, was to pretend like he didn’t really know him.

When you are buying from or selling to someone you know, its best to keep the emotion out of it. I don’t care if it’s grandma’s house or your Dad’s. At the end of the day, a house is the biggest investment you are probably going to make. Even when I know someone’s in love with the house, I try to remind them that someday, we are going to have to sell it.

If we take the emotion out and look at the facts, including price and condition; it will be easier to assess if it’s a good investment and lifestyle choice for you. Try to remember, when you go to sell it. Nobody is really going to care that this was your dad’s house, or the best man’s at your wedding. They are going to be looking at it from the same eyes, as I described above, so it is prudent that you do the same.