Everyone is saying it, so you know it’s true – the real estate market is on fire. If you are thinking of upgrading OR downsizing, you are likely concerned about the timing of buying and selling in Austin.
Many of our clients at the Shannon Schmitz Group need to time their buy/sell perfectly… so they don’t end up with two mortgage payments… or worse… homeless. You might have kiddos that you don’t want to uproot in the middle of a school year, and you may not be able to consider moving near the months of November and December… because the holidays are crazy enough, right? If you identify with any of these scenarios, this blog series was made for you.
Be Realistic About The Market
It’s great to have an idea of the Austin Market in general, but you need to be familiar with specific area statistics for the neighborhood you are leaving AND the neighborhood you are looking to buy in. You may have heard that sellers in this market, likely drunk with the daily reports of Austin housing prices’ rapid rising, have begun listing their homes above market value. We believe that to be the reason that we are seeing several home’s listing prices lower and, in general, inventory increasing… a little.
In our experience, the best offers are usually the first ones. Let’s face it, if you’re planning to buy or sell on a time schedule you need the first offer to happen in a timely fashion. When a potential buyer looks at houses on MLS searches, he or she can see when they have been on the market for a long while, and whether (and how many times) the price has been reduced. That’s when something subliminal happens. Even if the home is pristine, potential buyers can often presume that the reason for the price decreases or time on the market is due to something faulty with the home. “Why hasn’t anyone snatched this one up, yet? There must be something we don’t see.”
No matter what you think your home is worth, you need to go about determining the listing price with a methodology that is more scientific than emotional. It is absolutely essential that you compare your home to other nearby properties and account for any differences. You must consider recent movement in your nearby market as well as how much inventory is currently available. Only then can you come up with a solid, factually backed list price. This is very similar to the way appraisers go about pricing your home.
This leads us to directly to our next blog topic in this series: Know Exactly Where You Want to Move.
About The Shannon Schmitz Group
At The Shannon Schmitz Group, we don’t believe in a cookie-cutter approach to marketing and selling homes. Our mission is to provide a custom plan for the individual based on the specific property, neighborhood’s statistics and the individual needs and preferences of our clients.
We stand apart by employing a full-service marketing team that specializes in copywriting, photography, graphic design, and social & traditional media.
We are backed by Austin Portfolio Real Estate and Powered by KW Luxury Homes International. This means that we have more resources available to us than your average Realtor®.
We specialize in buying or selling real estate all over Austin. This includes the surrounding Texas Hill Country Area, including Spicewood, Spanish Oaks, Barton Creek, Bee Cave, Lakeway, Lake Travis, The Hills, West Lake Hills, and the famous Austin zip codes of 78703 and 78704.