Compared to the Bay area in California, where a lot of the buyers are from, the Austin/S.A. area is a steal. They have been selling there for $1100/sqft.
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For those of you that want to sell, consider this. Realtors charge 6-7%. That's $30K to $35K on a $500K property.
My mom and dad moved into assisted living last October. Their house sat empty all winter so I took it upon myself to go empty it and get it sold. I didn't even have it empty when I convinced Dad to let me put a for sale sign in the front yard. He held out for a few days but finally relented. I went to Walmart and spent 87 cents on a sign at noon on Friday May 21. I also placed an ad in the local Facebook classifieds group. My phone blew up almost immediately and I started booking appointments to show the house, explaining that it was a mess as I was emptying it for my elderly parents. I got my first offer at around seven pm that evening for $10,000 more than Dad wanted to clear on the deal. He is pretty sharp and had done some market research as had I. The buyer was prequalified so Dad has his lawyer draft a sales agreement and the mandatory disclosure form. I met the buyer on Tuesday evening and got the signatures. The deal closed last Friday. Dad's total expenses on the sale was $608 for the lawyer. Title policies are not normally a part of a real estate transaction where they live, nor is it common to provide a home warranty. My point is, if you know anything at all about market research and have a decent lawyer, you are leaving money on the table by hiring an agent. The current market is so much a sellers market that almost anyone can get a sale done. Even if you don't get top dollar, the savings on the real estate commission will cover a pretty good sized boo boo. Now, let the hate begin.Comment
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Possibly. Or a good realtor may have gotten $600K - $36K fees = $564K instead of $500K. But I get your point and appreciate you sharing your experience.Originally posted by 60 Deluxe View PostComment
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Yeah, sometimes it works, sometimes it doesn't. Had a similar situation with somebody where they were for sale by owner, and thought of all the money they were saving. I told one of my clients about it, he said heck yeah at that price and I submitted an offer. Of course seller says, "I'm not paying your fees," to which I replied, no problem. We closed, client went in and did a few things, updates and other stuff, and 3-months later I listed it and had it under contract within days.Originally posted by 60 Deluxe View Post
The original owner reached out several times, asking what house was selling for, and told him I couldn't disclose that information, only thing I could tell him was list price, which was 50k over what he sold to my client.
Suffice to say, after the new owner closed and paid Realtor fees, he still made over 65k on the deal.
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We listed our house two weeks ago. Had 7 offers in a few days. Our realtor sent out an email giving a deadline to submit best and final. The only cash offer wanted the opportunity to match best . So he did. 10% over asking price and buyer pays all title fees , etc. list price was above what I thought it was worth .Comment
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Small town but had several comps to guide pricing. Had a realtor stop by on Saturday and he said it was priced correctly for that marketOriginally posted by LWC View PostComment
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guy at fire station today said new development going up by Texas Motor Speedway has 100 houses going up and 200 showed up for the lottery to buy one...…..and Ft. Worth ETJ north of hwy 114 is set to add 55,000 we were told today...…..they are packing in houses by my station, north Ft. Worth, and no roads to handle the trafficComment
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our place isn't on the market but got a call about someone interested in it, 30 acres, house, barn, shop and wedding venue.....coming out to look this week, no idea what they have planned for it…..north of DFW and things are going crazyComment
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I think the craziest part is that it is like this all over the country. Flat out insane no matter where you're looking.Comment
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Im a local agent in Austin and the market is beyond crazy. Sold a house for over $125k over list! Had another listing that 30 minutes after it went live had a full price cash offer, w/o even being seen!! The buyers agent asked to come by the following day to video it for clients. NEVER seen anything like this.
If you've got 2 houses you're golden and can cash in. If you've only got 1, you can cash inn, but where will you go?
Predictions are the market will be this way for 2-3 years before flattening out. Even before this latest wave tech companies moving here, the greater Austin area was averaging 140 people moving here on a daily basis. With builders all ready 9-14 months behind ...
And as alway,s if I can ever help my TBH brethren out (educate anyone), please reach out.Comment
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We are going to Florida, north central, couldn't sell if we were gonna stay here....Originally posted by MIHunter View PostComment
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My wife has seen this before. Sacramento, California 2006. She said people were literally camping out in tents to buy houses. She was working for a fortune 500 builder up there and said it was nuts. Weekly price increases from her trades and sales managers that weren't even bothering to stage models because all the houses were spoken for before they broke ground on the development.
We all know how that turned out though.[emoji19]
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So,how does a house sell for MORE than the asking price?( I’m kinda stupid on housing markets).Comment
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There is a window, time range, set on accepting an offer to purchase. Some offers have contingency clauses, some full asking price and it runs the gamut from there.......it's like a hot chick waiting on a prom date......I got out bidOriginally posted by Witchgrass View PostComment
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Feel free to PM your number and we can talk about this....Originally posted by Witchgrass View Post
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