Will the cost of real estate in The Woodlands go up, up,UP? - Less Blah Blah More Ah Ha.brandcandid.comThe certain beginning of a shockingly steady rise in realestate prices.You see signs everywhere. Longer lines. Thicker traffic. More shoppers. Lankyconstruction cranes pepper the skyscape. And then there’s this endless paradeof good news about growth. Todays blazing real estate market, shortage ofinventory, rising prices and solid Seller’s Market conditions are the result and thegrowing-richer-every-week improved local economy and three years of pent up realestate demand and desire.What would you imagine the market will look like beginning January 2014 whenmany of new multi-story office towers are ready for their inbound corporateemployee transferees. What about when the Grand Parkway is complete.
What does this mean to you?If you’re thinking of making a move, you better get a move on. The cost ofeverything is going up. Although you’ll pay higher prices today compared to lastyear at this time, or even three months ago, you’ll be patting yourself on your backwhen you see how impressively steady real estate prices rise.If you don’t have to sell, sit tight and watch your equity blossom. If you want tosell don’t short change yourself – Read This. The supply of For Sale homes will be perpetually wafer thin.Last year at this time there were 668 properties (in all price ranges) For Sale in TheWoodlands. Due to organic demand and record breaking sales activity there arecurrently only 414 properties (in all price ranges) For Sale in The Woodlands. Moreeye opening, today there are only 33 properties For Sale in The Woodlands under$200,000.Buyers: This means that you’re going to have to be super aggressive in finding asuitable property and fighting your way to a acceptable contract. Of the 947 closedsales Year-To-Date one-in-four sold within five days, many with multiple offers andover list price. Like I said, move fast and flexible.When fresh inventory hits the market you’ll want to know about it pronto. To keepfrom losing out, have your trusted real estate agent set you up with an email auto-notification based on your unique and specific requirements. With our new FusionMLS system when a listing agent enters their shiny new listing data, property photosand information into the MLS system and hits the This-New-Listing-Is-Officially-On-The-Market button, within a few heart beats you will receive an instant emailalert. It doesn’t matter if the new listing goes live at high noon, midnight oranytime in-between you’ll know about cool, hot new listings that meet yourpersonal criteria before the uninformed and slow-moving tortoise like masses. Now
that you know before your bidding against you home buying competitors everyoneelse, move swiftly. Stories about hot new listings hitting the market and attractingmultiple showings and offers on the first or second day are not exaggerated. Movefast and you’ll be moving in. Congratulations! Let me know if you need an NewListing Alert setup – Ken Brand 832-797-1779.We’re seeing more and more off the MLS radar inventory sold via jungle drums,whisper campaigns and real estate agent grape vines. Savvy listing agents prepping anew listing for market and always-on selling agents are exchanging phone calls, textsand emails about upcoming inventory. Many properties sell privately before theyhit the MLS mass market. Ask your trusted real estate agent to send emails toknown top listing agents, put a ear to the ground, make some phone calls and see ifthey can learn about fresh soon-to-be-on-the-market listings before everyone else.Let me know if you want to know about Pocket Listings – Ken Brand 832-797-1779.Once you find a property keep this in mind: Anticipate competing offers and consider adjusting sweetening (without souringyour satisfaction) your offer accordingly. Values are risings, don’t wring your handsover a few thousand dollars. Today’s insanely low mortgage rates make affordabilitya once in a life time gift. For every thousand dollars you borrow on a thirtyyear mortgage your monthly payment will rise a measly five bucks or so. Thatmeans if you and the seller are ten thousand dollars apart from an agreed up price,you’re really not talking about ten thousand dollars, because you’re financing yourpurchase you’re really talking about fifty bucks more a month. Come on now.What’s the big deal. If it’s the property for you and yours, make your move.Remember, odds are, if it’s an attractive enough property for you to be interested,no doubt other qualified buyers will be attracted too. Those other people areyour competition! Don’t let them drink your milkshake. You will begin to buildequity by owning now, not looking and waiting for deals and steals – they don’texist.Don’t be embarrassed, too prideful or penny wise and pound foolish to offer full orover list price . In this market offers submitted at or slightly above list price arenecessary to win. These committed buyers usually walk away with prize. When youfind what you like, it’s fine to end the home search tour and put in an immediateoffer. If you like it love it, buy own it. Plus, keep in the mind the mortgage companywill complete a property value appraisal. If the property doesn’t appraise for thecontract price you can always bail or renegotiate.
Consider Your Terms Of Purchase: To hone an edge and stand out in thesellers eyes consider sweetening the terms of your offer.Larger down-payment.Bigger earnest money deposit.Short trigger point deadlines and exit clauses for things like the Option Periodand days for financing approval.Provide the seller with written mortgage pre-approval from your lender.Flexible closing date.Possible seller lease back.A personal letter to the seller sharing a little bit about yourself and yoursituation sometimes helps the seller choose one bidding buyers offer over theother.What To Expect On Inspections and Repairs: After your contract is executedyou’ll have an opportunity to have the property inspected. Because you’re notbuying a brand new home it’s common to turn up a long or short list of items thataren’t perfect. Understand accept that in a seller’s market a seller is less inclined topay for the repair of cosmetic items. Have your agent get a bid on the inspectionitems you’d like to have completed. If the seller won’t pay for them don’t get angryor take your eyes off your prize, your real estate agent will have the names andnumbers of reputable repair and home improvement people who can get the jobdone for you fast and affordably. Or if you’re a DIY kinda person, go for it. Don’tlose out because the seller won’t make the property perfect or spend a few hundreddollars in cosmetic type repairs. If you like it, buy it own it.The bottom line for buyers.Use these tips and you’ll successfully navigate today’s new strong-like-bull seller’smarket realities with a smile and success. Good luck, speed and graceA few more facts about The Woodlands Closed Sales |January 1st to May 27th, 2013Closed Sales = 947 [Up 16.4%]Average Sold Price: $389,784 [Up $22,369 | 6%]Median Sold Price: $293,000 [Up $11,400 | 4.1%]
Average Price Per Square Foot: 2,992 Square Feet @ $134.94 Per Square Foot [2012 = 3,060 @ $120.50 Per Square Foot]Average Days On Market: 45 Days [2012 = 70 Days On Market]Average Sold Price To List Price % = 98% [2012 = 96%]Closed Sales – The Woodlands / 1.1.13 to 5.27.13Closed Sales – The Woodlands / 1.1.12 to 5.27.12Thanks for reading. If I can be helpful – Ken Brand 832-797-1779.brandcandid.com