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Expert Tips for Home Buyers & Sellers

Our mission at Culhane Premier Properties is to be your best resource for real estate advice. Whether you are a buyer, seller, or investor, our team of professionals can answer any questions you might have about real estate. Subscribe to this blog to get the latest news on local market trends and receive expert tips for buying or selling a home.

Monday, June 26, 2017

5 Things You’re Doing to Sabotage Your Listing


Seeing a home sit on the market can be frustrating, but there are a few ways to help get it moving. Here are five tips that could make the difference in selling your home.

Seeing a home sit on the market for too long can be a frustrating and confusing ordeal. 

As a seller, there a few key things to check when you notice that your home isn’t moving as quickly as you’d like it to. 

First of all, you want to look at the price for which you’re listing the home. Both over- and underpricing your home can have undesirable effects. When it comes to overpricing, the result could be that your home will receive fewer showings, sit longer on the market, and may compromise your final sales price.

At the same time, underpricing your home may leave you with less money than your home is worth. 

Luckily, there are a number of things we can do to help to help you maximize your return. 

If your price isn’t the problem, consider taking a look at the condition of your home and how, or if, you have it staged for potential homebuyers. Homebuyers want to see a clean, uncluttered home with good curb appeal when they turn up for showings. Staging your home is one of the best ways to make it look its best in showings and photos alike. 

In our highly digital age, listing your home is a much different experience than it once was. This brings us to our next point, which is marketing. Is online content about your home accurate? Is it painting a good picture for potential buyers? Proper marketing is one of the best ways to generate demand for your property. 


"Even if your home is otherwise perfect, it simply won’t sell if it can’t be shown."


Another factor that can impact the amount of time a home spends on the market is convenience and showability. Having your agent readily available to show your home is extremely important to ensuring that potential buyers don’t feel hassled by the experience of visiting the property. Even if your home is otherwise perfect, it simply won’t sell if it can’t be shown. 

The last thing that can help to move a home off the market is style and finish. For example, if all the other homes in the area come equipped with certain updates, like granite countertops, but yours does not, buyers may overlook your home in lieu of a more recently renovated property.

If you want more information, have questions, or have any real estate needs in our Central Texas area, feel free to get in touch by sending me an email or giving me a call. I look forward to hearing from you.

Monday, March 6, 2017

The Key to Pricing Your Austin Home for the Highest Net Profit


You've probably heard that old real estate myth that when you sell your house, you should price it above market value to 'leave room for negotiation.' I have two examples today that show why that's a terrible idea.

When homeowners sell their house, one of the most common questions they have for real estate agents is how to price it properly to sell. I think many people believe the myth that in order to sell something, you need to elevate the price to 'leave room for negotiation.' It sounds logical on the surface, but it can actually be one of the worst things you can do.

When we help people sell their house, we analyze what's currently active on the market, home sales that are pending, and recent sales to give them a number or range for the current market value of their property. That's the first step. The second step is to determine the marketing and pricing strategies.

Consider West Lake and Lakeway as an example.

In Lakeway between the $1 million and $2 million price points, there have been 38 properties that sold in the last 365 days. Of those 38 homes, 17 elevated their price to leave room for negotiation and sold for an average of $1.358 million. The other 21 sellers were more aggressive with their pricing and averaged $1.329 million, which is $29,000 less.

Remember, the value of the property and the pricing of the property are two very different conversations. Just by elevating their price, those 17 sellers netted almost $30,000 more on average.

In West Lake, we can look at homes in the same price range and see that the sellers who priced their homes aggressively made $125,000 more on average than those who elevated the price of their home to leave room for negotiation. This is just a small example of what we see all around the Austin area.

In West Lake, sellers who priced aggressively netted $125,000 more on average last year.

As part of the selling process, we'll help you make sure you price your home well to maximize your bottom line. It's something we enjoy doing, and we know that the numbers don't lie. We even use special software that helps us analyze pricing to help you find the best price for your home. To boot, we've added a third office in San Antonio to help serve you at an even higher level.

If you have any questions about pricing your house to sell or you're thinking about buying a home in the Austin or San Antonio area, give us a call or send us an email. We'd be happy to help you.

Tuesday, January 24, 2017

Have Lakefront Home Values Gone Up?


Have lake property values gone up now that Lake Travis is back to full pool? We’ll break down the numbers today. 

Thank you for sending us your questions. Today, we’ll answer Rebecca, who asked, “Have lake property values accelerated now that Lake Travis is full?” 

Lake Travis dropped to its lowest point in 2011 thanks to the drought. In May of 2015, the rains came, and the lake went back to full pool in about a month. 

Home values did slide in 2011, when the lake was at its lowest point. Then, home values proceeded to bottom out in 2014. That year, the median price for a Lake Travis waterfront property was $565,000. In 2015, the rains came and the median price rose to $675,000. At the end of 2016, home values made a full recovery with a median price of $774,000. 

The water levels in Lake Travis also impacted the number of home sales. In 2014, Lake Travis only had 63 closed transactions. That number went up to 93 home sales in 2015, and in 2016, 157 lakefront properties sold. 

So, lakefront properties are now back to pre-drought values. However, just because Lake Travis has seen an increase in home values doesn’t mean that your home has seen the same rate of appreciation. 

Lakefront home values have made a full recovery.

Home values vary from property to property and from area to area. The Austin area Board of Realtors says that from November 2015 to November 2016, home values in Austin grew by 7%. If you break that down, though, you’ll see that Williamson County appreciated by 12%, Travis County appreciated by 1%, and Hays County appreciated by 8%. 
If you have any other questions you would like us to answer or if you want to know what your home is worth in today’s market, just give me a call or send me an email. I would be happy to help you!