Price Your Home Correctly to Get Top Dollar

If you want top dollar for your home, pricing it correctly is crucial. I’ll go over why overpricing would be a huge mistake and explain how we can find the best price for your home today.

Selling in the Austin area? Get a market analysis report

Purchasing in the Austin area? Get full MLS access

Pricing your home correctly in this market is the key to getting top dollar. 

There’s a myth that the best strategy when selling is to price a home high and leave room for negotiation. Simply put, that’s the worst thing you can do. 

In order to price your home correctly and really take advantage of the market, we need to find your X-factor. Looking at what homes around your neighborhood sold for is a good starting point, but we need to dig a bit deeper.

The worst thing you can do is price your home too high.

For that, you’ll need an agent who is in the know to go over a market analysis with you. We’ll take a look at what improvements you’ve made or need to make in order to make your home more marketable and we’ll figure out the best list price for your home. 

If there are not many comparable homes in your area or if you have a unique home, it might be a good idea to get an appraisal done. 

Selling for top dollar and pricing correctly comes down to what we call the Three Cs: competition, consumption, and condition. Competition refers to how many sellers are active on the market, consumption refers to how quickly homes are selling, and condition refers to your home compared to others. 

If you’re thinking about selling your home, we’ll know how to price it. If you have any questions please don’t hesitate to give us a call or send us an email. We’re always happy to help!

Just How Accurate Are Zillow's Zestimates?

Why can't you trust Zillow's Zestimate to get the value of a home? The Zestimate's capabilities are much more limited than most people realize.

Selling in the Austin area? Get a free Home Value Report

Purchasing in the Austin area? Get full MLS access

If you're trying to determine the price of a home, Zillow's Zestimates aren't the most trustworthy source.

Zillow uses an algorithm to calculate a home's value, and this algorithm uses a very limited number of factors to determine a price. For example, Zillow can't account for a home's location. A 4-bedroom, 3-bathroom house that hasn't been updated in decades and is near the highway will be valued the same as a brand-new home in a quiet cul-de-sac with the same number of bedrooms and bathrooms.

Even Zillow admits that these Zestimates could be off by as much as 15%. That's potentially a $30,000 inaccuracy for a $200,000 home. In fact, Zillow's CEO himself sold his home in 2016 for a whopping 40% less than what the Zestimate said it was worth!

Zillow can't account for a home's location.

The only way to get a true, accurate value for your home is by hiring a professional real estate agent who knows your market inside and out. We've actually even added a home value calculator that you can use for free on our website—you can even email me pictures to get an even more accurate value. To take it a step further, we can actually come out to your home to discuss its value.

If you'd like to know what your home is worth in today's market or you're looking to buy a new one, give us a call or send us an email. We'd be glad to help!

How Will Increasing Interest Rates Affect the Austin Market?

As you probably know by now, the Fed increased interest rates at the end of last year. Today I’ll go over what effect that increase is having on our Austin market.

Selling in the Austin area? Get a market analysis report

Purchasing in the Austin area? Get full MLS access

By now, you’ve probably heard that there was an increase in interest rates at the end of last year. I want to go over the impact of that increase on our market here in Austin and give you an idea of what you can expect as a result in 2017. 

We’ve been told that interest rates will be raised at least three more times in 2017, with some economists predicting a worst-case scenario of a rate of 5% by the end of the year. 

Whenever rates increase, people get a little concerned about how it will affect home sales. According to local economists, there really is no cause for alarm, but the increase may affect the rate at which home values increase. Instead of the 7% to 10% increase in home values we are used to, we might only see a 5% increase. 

Austin is experiencing great job growth right now, but it doesn’t seem to be causing a negative effect on the housing market as consumer confidence is high and unemployment is low.

Right now is a fantastic time to sell your home.

All in all, economists predict 2017 to be a great year for our market. That being said, if you’re thinking about selling a home this year and are wondering when the best time to sell is, the answer is right now. 

Give us a call today and we can get you in contact with our preferred lender who will get you started on your way to financing a home. Additionally, if you have any other real estate-related questions or you’d like to find out how we can ensure your home sale process is as smooth and successful as possible, please feel free to reach out to us. I look forward to hearing from you!