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Home WHY NOW MAY NOT BE THE TIME TO SELL YOUR F...

WHY NOW MAY NOT BE THE TIME TO SELL YOUR FAIRWOOD HOME.

The Fairwood subdivision, conveniently located off Spring Cypress between Telge and Grant, continues to draw plenty of "buyer" traffic. This subdivision has excellent schools, nice ammenities, and a VERY affordable home owner's association fee. I have SOLD several homes in this subdivision in the past. I currently have a beautiful listing, however, that has had a difficult time selling. We have had many lookers and even two offers, so WHY hasn't this particular home SOLD?

First, a look at the data for August, September and October.

1. How many homes have sold? Only seven homes have sold in the past 3 months.

2. What types of homes have sold? Of these seven homes, FOUR were foreclosures, and three were regular sales (ie not a short sale or a foreclosure.)

3. And what kind of price/sq. foot are we talking about? Grouped separately, the foreclosures brought in an average of $41.33/sq. ft. The standard sales averaged much higher at $60.27 per square foot, however, this is much lower than the average from 2-3 years ago. Obviously, the number of foreclosures taking place is drawing the overall sales price down.

I was mulling over WHY this beautiful home has not sold yet, and I came to a very simple conclusion. The seller is not motivated enough to drop her price to sell, and in this market, you TRULY have to be motivated to sell. The homes I have sold more recently in Fairwood include a sale due to an out-of-state move, a sale due to the owner getting married, and an estate sale. Clearly, these sellers were motivated to sell. My current client wants top dollar for her property, and so do I. However, when you look at the market data, it is extremely HARD to get top dollar unless you do all the right things. DECLUTTER, DECLUTTER, DECLUTTER!! MOVE BIG FURNITURE ITEMS THAT MAKE ROOMS LOOK SMALL INTO STORAGE; CLEAN OUT THE GARAGE; KEEP THE LAWN LOOKING GOOD AT ALL TIMES; HIRE A MAID or BE EXTREMELY NEAT WHILE YOUR HOME IS ON THE MARKET. :) You really have to do all of the above AND be flexible on negotiating price in order to get it SOLD.

So, if you don't HAVE to sell your Fairwood home, now might not be the best time for a move. If you have any questions about what your home could sell for in today's market, please give me a call. I would love to share the market data with you and answer any questions you may have!

SONJA PATTERSON with RE/MAX REALTY CENTER 13611 Skinner Rd. Suite 100

OFFICE: 281.213.6200 DIRECT: 281.213.8039 CELLULAR: 713.303.9463

MY LAST FIVE BLOGS OF THINGS HAPPENING IN AND AROUND CYPRESS, TX!!

Posted Wednesday Nov 17