Fellow Realtor, Kevin Rhodes of Keller Williams Realty says: It is no secret that most housing markets are tilted towards the buyers. In general, there are more properties on the market than this time last year, and there appear to be a lot less qualified buyers out there ready to make a purchase. This definitely puts a downward pressure on area home prices and stresses out sellers that are currently on the market.
For myself, being primarily a listing agent, I am seeing a growing trend that is quite concerning. In such a strong buyers market, it is no surprise that many sellers are feeling taken advantage of during the negotation process. With the excessive intentory on hand, buyers know that they have the upper hand in selecting a home.
A negotation example would be that the seller receives what the seller believes to be a "low ball" offer. The seller then tries to counter the buyer's offer, but the buyer doesn't budge much. Ultimately, the seller settles on a price much lower than they had originally expected to sell at.
The buyer and seller then proceed to the next phase of the contract/negotiations process. It's called the "option period." This is the period where the buyer has "X" amount of days (usually 7-10 here in Texas) to get inspections and has the unrestrictive right to terminate the contract for any whatsoever. Assuming that the buyer hires a home inspector, the home inspection is completed and the seller is presented a list of repair items that the buyer wants the seller to repair. Many times this repair list can be quite lengthy, especially in older homes. The seller usually has been living in their home for some time thinking everything is just fine, and then all of a sudden an outside third party comes in and picks their home apart.
So when the buyer presents a requested repair list, the seller naturally gets defensive and usually becomes upset with the buyer's requests. Not only does the seller think that the buyer has already received a great deal on the home, they now feel taken advantage of because the buyer is asking for more.
Sometimes buyer and seller are able to negotiate the repairs together and agree to terms, but I have seen many deals almost come to an end at this stage.
The remedy I suggest to this dilemma? Get a pre-listing home inspection done prior to listing the home for sale (and do some repairs upfront). When sellers list their home for sale, they are usually excited and are very willing to listen to realty professionals'advice on all topics (recommended updates, staging, decorations, etc). If a pre-listing home inspection is done and the seller makes and documents the repairs made, once a contract is received, negotiations between the buyer and seller will go much smoother and a lot less emotional for the seller. Here in Texas, it also allows the sellers to make the repairs by a handyman, which can save the seller money. However, once under contract with a buyer, any buyer-requested repairs that are agreed upon by the seller must be done by licensed technichians, which can be costly.Not only that, but when a buyer comes along and has narrowed down his/her home search to two or three homes, the seller that has been pro-active and has already had a home inspection and made a few repairs, will likely be a more appealing candidate to receive an offer from that buyer. This point should be very interesting to a seller in such a tough market.Kevin Rhodes is a Keller Williams Real Estate Expert in the Dallas/Fort Worth Area.
| BUCHANAN | Water clear; 80 degrees; 9.98' low. Black bass are fair to good on watermelon Whacky Sticks and crankbaits in creeks in 5 - 10 feet at first light. Striped bass are fair on Spoiler Shads and Rat-L-Traps along the river channel near the dam in 25 - 40 feet, and drifting live bait in 30 - 40 feet. White bass are fair but small on Tiny Traps along the river channel. Crappie are fair on chartreuse Curb's crappie jigs and live minnows. Channel catfish are fair to good upriver. Yellow and blue catfish are good upriver. |
| CANYON LAKE | Water clear; 77 degrees; 0.15' low. Black bass are good on watermelon red Whacky Sticks on jigheads, Texas rigged 6" purple Scoundrel worms, and white spinnerbaits along main lake bluffs in 10 - 24 feet. Striped bass are fair jigging blade baits and deep running crankbaits over and around humps in the lower end of the lake. White bass are slow. Crappie are good on minnows and blue tube jigs. Channel catfish are fair on shrimp. Yellow and blue catfish are fair on trotlines baited with live bait. |
| GRANGER | Water clear; 77 degrees; 1.96' low. Black bass are fair on white spinnerbaits upriver. White bass are good on slab spoons over main lake humps. Crappie are very good on jigs in 3 - 12 feet. Blue catfish are good on juglines baited with Zote soap and fresh shad. Yellow catfish are good on trotlines baited with live perch. |
| LBJ | Water stained; 82 degrees; 0.27' low. Black bass are good on Curb's buzzbaits and watermelon Whacky Sticks around structure in 5 - 10 feet early and late. Striped bass are fair on Crème Spoiler Shads. White bass are good on Li'l Fishies at night. Crappie are fair on Curb's crappie jigs and live minnows over brush piles in 10 - 16 feet. Channel catfish are good on minnows and doughbait. Yellow and blue catfish are fair on trotlines baited with live bait. |
| TRAVIS | Water fairly clear; 80 degrees; 11.08' low. Black bass are fair on chartreuse topwaters, watermelon red worms, and crankbaits in 8 - 20 feet. Striped bass are slow. White bass are fair on silver spoons and minnows in 32 - 40 feet. Crappie are slow. Channel and blue catfish are good on shrimp and cut shad in 25 - 40 feet. Yellow catfish are slow. |
| WALTER E. LONG | Water stained; 80 degrees. Black bass are fair on minnows. Hybrid striper are fair on striper jigs. White bass are slow. Crappie are fair on minnows and blue tube jigs. Channel and blue catfish are good on cut bait and liver. Yellow catfish are slow. |
Saturday in Dripping Springs was beautiful! The sun was shining, it was about 84 degrees, But it sure was wet!
The Rainwater Revival was a hit. The information on Rainwater Collection and Storage was plentiful, from Green Builders, to Tanks, you couldn't have been in a more water friendly place. The refreshments were wet too. With demonstrations regarding runoff water from farms and roads to eager to learn kids and adults, the Rainwater Revival Festival in Dripping Springs sure did enlighten me to the importance of water conservation. Did you knowthat Texas leads the nation in rainwater collection? Did you knowthat only 4-5% of rain that falls over the area ends up recharging the Trinity Aquifer? Did you know we get our water from the Trinity Aquifer? Did you know that 1,000 sf. of roof can yield 625 gallons of water? Now You know!. Think about July and August when your lawn is thirsty, but the guilt of watering it outweighs the needfor the greenest grass in the neighborhood. There were several rainwater barrels that were painted beautifully by several local artists that went up for auction, with the proceeds going to Hays County Schools to implement classes or projects for water conservation. Great Day! Thanks to all the sponsors.
Gary Steele Broker, Assoc., CRS, ABR
512-426-9800
Keller Williams Realty
"Newsweek Magazine" rated Dripping Springs Texas High Schools #829 out of 27,000 public high schools. The magazine article said that it was according to a "Challenge Index" based on AP tests taken in 2009.
That said, where would you want your kids going to school, if you could live anywhere? I know a friend who's child was coming to high school here in Dripping Springs from an undisclosed school district. It was this kid's senior year of high school and for this child to attend, and graduate with their peers here in Dripping Springs, they would have had to take summer school, attend an after school program, and other weekend classes. Can you believe it? What was the problem with this other school that this kid could not just transfer in? Well as we talked I discovered that the other school just did not have a good science and math programs among other obvious reasons.
I can definately say, as my kids are in Drippings Springs Middle and High Schools that the Dripping Springs Independent School District is UP TO THE CHALLENGE! Make it your kids school home.
For more information on DISD, call me.
Gary Steele Broker-Associate, CRS, ABR
Keller Williams Realty - Dripping Springs Office
512-426-9800
Can't wait to see this, Mayor Todd Purcell, constables Ron Hood and David Peterson and other elected officials will be pulled across the rodeo arena floor face down, behind a horse. Just imagine, how fun will that be to watch? A real crowd pleaser. What is it? The Wild West Fest in Dripping Springs, TX. There will be everything from an old fashioned pie contest, to a haunted house (for the younger crowd), to dancing under the harvest moon with the Michael Myers Band. For more information be sure to check your local paper "discover Dripping Springs" in the "Hill Country Sun" See you at Harris Ranch Park in Dripping Springs, TX. From 6:30 pm on Friday Oct. 22 thru Saturday Oct. 23. See you there.
Gary Steele, Broker-Associate, CRS, ABR (512) 426-9800 cell
Keller Williams Realty 333 E. Hwy. 290, Ste. 417, Dripping Springs TX 78620
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I have a full service Real Estate Team of Experts. The Steele Action Team will make your Real Estate dreams come true. Serving the Central Texas Hill Country, Austin, Dripping Springs, Wimberley and
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