I am always amazed by the huge variance between "perception" and "reality" in almost everything, but especially in home buying, selling, and investing. I suppose TV Reality shows like "Flip this House" and "Love it or List it" fuel the fire. I talk to people every day who love these shows and envy my 41+ year career "doing what these shows indicate." I get emails and phone calls every day from people saying that they're "investors looking for homes under $55,000 that they can put in new carpet and paint and sell it for $150,000." Really? Me too! lol
Then there are people who wander into new home models and get swept away by the builder sales reps who have fabulous homes to sell ... with incredible financing options to boot! "You don't need a Realtor," they say, "I can save you money without a Realtor!" (Oh yes, "save you money." They'll "give" you "free" things when you buy from them!) Right.
As a seller's agent, I love getting the calls from home sellers who want to sell after owning their home for 2-3 years. I have to be the one to "drop the bombs:"
What Every Houston, Pearland, and Manvel Home Seller Should Know
1. Pricing. No, home prices haven't gone up like the builder's rep told you;
2. Competition. Yes, you are competing with the builder (and the current Houston average price variance between "new" and "resale" has been reported as 28%);
3. Know Your Escrow. Yes, I'm afraid your escrow shortage is correct, as the builder's lender originally based your tax payments on "lot" value -- now, after the first year with improvements added, your escrow is in a negative situation, so your new mortgage payment must go up enough to cover the shortage AND cover future tax payments. (This is the worst one.);
4. Beware of Shortcuts. No, a "For Sale by Owner" nor a "discount" broker will save you any money ... in fact, those things will cost you additional money in lack of exposure, security risks, very savvy buyers who also want savings, complex negotiations and regulations, inexperienced transaction processing, poor lender choices, poor title company choices, poor legal counsel, etc etc etc.
5. Choose an Agent With Experience. No, your niece who just got her real estate license is not your best option "because she needs the money."
My dear readers, as a top producing Realtor for over 41 years, it is my job to help other Realtors increase their knowledge and expertise, as well as helping home buyers and sellers. Thus, when you call on myself or any agent of RE/MAX Top Realty including those on my team, you can bet that you'll receive caring counsel to avoid future problems as much as possible.
Did you know that an experienced Realtor can ALWAYS tell who bought a new home without a Realtor's advice? Always. So the thing every seller should know is that experience really does count and matter to your bottom line.
Want to know more? Just call me at 832-200-5656 or send me a message online. The Sam Team at RE/MAX Top Realty. We'll get you moving in the right direction!
Hey real estate agents ... want to learn the "secrets" of Top Producers? Call me about that, too.