By John Buchanan
Hello, my Gayborhood residents. It’s time again to chat about neighborhood realty topics, and this one affects us all.
One of the biggest topics I get questioned about is, “Will my home holds its value or increase or decrease in value over the next few years?” Trust me, there is no crystal ball that will answer this question. What I can tell you is that the Gayborhood trend looks good at this time. We saw a strong market in 2015 and even though everyone said 2016 would drop, truly, our market has not only held strong and but the prices have gone up an average of 1.3 percent over last year.
The inner-loop is hot right now, and the Gayborhood is hot right now; it is a good time to sell or buy in the Gayborhood.
When I am with potential buyers (and sellers, for that matter), I like to inform my customers everything I know about the home. Obviously, certain areas are hotter than others and homes seem to do better in these neighborhoods but all areas of the Gayborhood are currently doing well.
Here is what happens one of your neighbors puts their house on the market: All of the surrounding neighbors sit back and watch what’s going on with the house. If that house sells rather quickly, it motivates others in said neighborhood to want to list their house and try to sell it.
If the house sits on the market and does not sell, it slows the rate of listings in that neighborhood and makes people think the market is slow at the time.
This is why it’s very important to get a real estate agent that knows the market and especially the neighborhood so they can guide you and allow your house to sell quickly based on sales activity in the said neighborhood.
I frequently hear folks talking about doing things to their home that cost them money just to sell their home. You can save money by determining what really needs to be fixed, and what you don’t need to do. There are ways to come up with a game plan to sell your house quickly, so don’t spend a dime until you have talked to a professional real estate agent. Folks also frequently tell me about putting in new carpet or, even worse, granite countertops to sell their home. Don’t make unnecessary decisions that will cost you money and really not benefit you in the long run
There are market reports that statistically show what the home should sell for and you will always find home owners trying to sell their house for more than its worth. The house will either sit there with no activity or showings, or offers will come in lower than the owner wanted. That only creates a negative atmosphere for all parties involved.
This is a great time to make that move for buying or selling. Folks buying before January 1 qualify for homestead exemption immediately, so after the new year starts and they will start saving money.
The Gayborhoood is selling extremely well right now with inventory being needed so let’s make your house the next great buy in the Gayborhood.
Until next issue, stay safe and love life!
LA Realty’s John Buchanan has more than twenty years’ experience as a realtor, and writes ‘In the Gayborhood’ to communicate, educate and save his clients money. He welcomes all referrals whether they’re buying, selling, renting or leasing. For more information, call 832-969-4352 or email Johnwb214@aol.com.