KEY MARKET FACTORS – WHAT YOU CAN & CAN’T CONTROL WHEN SELLING YOUR HOUSE IN HOUSTON
There are a few things that are within your control when you sell your house in Houston. And there are some things that are completely out of your control! Let’s review.
This, in my opinion, is the most important key factor that’s in your control. Everything sells for the right price. Now I’m not saying give your house away or anything crazy like that! Be realistic about your price and the actual condition of the home vs. those around you. Most sellers typically see the most activity within the first 2-3 weeks of being on the market. So make sure you and your agent get it right from the very beginning!
CONDITION – IS IT IMPORTANT?
The condition of the home is important as well. Buyers will either fall in love with your home or walk away disappointed. If you know the condition of the home isn’t good, then make sure to price it accordingly. You don’t want to price your house the same as the fully remodeled one down the street if yours is in poor condition.
On the flip side, if your house is fully updated with no issues, then you can price it at full market value. Or you can fix the place up before listing it on the market so we can get full market value out of it.
LOCATION – WHAT YOU SHOULD KNOW
You can’t pick up your house and move it. Well, I guess some houses you can. But let’s be real here, you’re not doing that! Buyers shop for specific areas, lots, and sometimes school districts. One can be perceived as better than the other. Location and desirability is not within your control when you sell your house. But, buyers may compromise and go for your house if it’s cheaper and looks the same but is located in a less desirable area or lot. So again, focus on what you can control!
This is another key factor that’s out of your control. The strength of the economy, neighborhood competitiveness, buyer’s market or seller’s market, interest rates, etc.. are all factors that can either work for you or against you. Although you have no control over those, it’s still important to understand the conditions of the market you are about to enter. The real estate agent you hire, if it’s us or someone else, should be able to accurately describe the current market conditions and what your options are.
TIMING THE MARKET
When is the best time to sell your house in Houston? Well the answer isn’t straightforward like you think. For example, prime buying and selling is commonly referred to as the summer time. But, everyone and their mother is selling their house at the same time, so you will have steep competition to go up against. On the flip side, selling in the winter bares little to no competition and can yield outstanding results. It really just depends on your goals, market conditions, and how quickly you would like to close on the house.
Not really a key market factor, but this is important. When you decide to sell your house, be as flexible as possible with showing requests. The last thing you want is to deny a potential buyer the opportunity to view your house and make an offer. Now don’t get crazy, I am not saying let someone see your house at 9pm. I’m talking normal business hours here.
But we understand life gets in the way sometimes, and that’s okay. Just try and be as flexible as you can when buyers request a showing.