Z Team Houston Real Estate

West of Grand Parkway , Cinco Ranch  -  Announcing a price reduction on 3211 Logancrest Ct, a 3,703 sq. ft., 4 bath, 5 bdrm 2 story "Separate Living Area Upstairs". Now MLS® $299,000 - Priced at Market Value.

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Westcreek Village, Copperfield  -  Announcing a price reduction on 7907 Grand Mountain Ct, a 3,068 sq. ft., 5 bath, 4 bdrm 2 story "Traditional". Now MLS® $279,000 - .

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West of Grand Parkway , Cinco Ranch  -  Announcing a price reduction on 3211 Logancrest Ct, a 3,703 sq. ft., 4 bath, 5 bdrm 2 story "Separate Living Area Upstairs". Now MLS® $330,000 - Priced at Market Value.

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Barrington Place, Sugar Land  -  Announcing a price reduction on 13419 Brittany Dr, a 2,340 sq. ft., 3 bath, 4 bdrm 2 story "Traditional". Now MLS® $195,000 - .

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Gorgeous 3 Bedroom with Upgrades & Pool

• 2,503 sq. ft., 3 bath, 3 bdrm single story - MLS® $299,900

Kelliwood, Katy (Harris County)  -  Agent Remarks: Call agent phone # if wanting to show between 3:00pm-6:00pm Mon-Fri BUYER TO PROVIDE NEW SURVEY
Dir: From I-10, Exit Fry Rd, go South on Fry, then left on Kellicreek, then at the end of the street take a right on Hollow Wind, House is on the left.
Physical Property Description - Public: Beautiful 1 story in excellent condition. Comes with landscaped yards, in ground swimming pool and spa, private automatic gate in driveway and automatic garage. Interior has gorgeous hardwood floors throughout the entire home with stylish tiles in kitchen and striking granite tile in masterbath. Kitchen has elegant black granite countertop slabs and comes with plenty of counter and cabinet space complete with kitchen island and breakfast bar. Priced competitively with many upgrades.

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Gorgeous 5 Bedroom Luxury Home

• 3,856 sq. ft., 5 bath, 5 bdrm 2 story "2nd Master Bedroom Upstairs" - MLS® $1,100,000

Riverbend, Austin  -  Directions: From I-10 exit Bingle/Voss Rd ex 760, go south onto Voss, Right on Woodway/River Bend Dr on River Bend, House is on the Left
Physical Property Description - Public: Spacious 5 bedroom in good condition in beautiful choice neighborhood. No cookie cutter rooms, each room has unique feel and house has unique and comfortable layout. Master bedroom has extra large windows for plenty of natural lighting. Floors in good condition with exception of worn carpeting which needs to be replaced. Entire house is in great condition just needs some updating. An excellent find in a gem of a neighborhood and is move in ready. Will consider reasonable offers.

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December 2007 ended with an average days on market at 85 for single family homes making it the longest period for 2007.  With these prolonged periods of inactivity more realtors have adopted highly complex and complicated marketing strategies to compensate.  My team does have a highly personalized and intensive marketing plan for each property; however, a good marketing strategy is only a fraction of what sells a home.  To oversimplify there are 3 things that sell a residence:

1)      As stated a good marketing strategy is important

2)      It is critical that the home is staged and shows well

3)      Most importantly it must be priced competitively

A good marketing strategy is directed into several areas.  These stats shows the % of buyers that first learned about a home of interest: 

41%…………Agent

16%…………Yard Sign

11%…………Internet

7%…………..Friend, Relative, Neighbor

7%…………..Newspaper

7%…………..Builder

4%…………..Knew the Seller

1%…………..Homebook, Magazine

6%…………..Other

-These statistics show the priority and weight in relation to which marketing mediums should be reached. 

-The graph fails to mention the importance of open houses, it is in fact close to 6% and about 50% of all potential buyers found open houses attended useful.

-The internet statistic can be misleading, since; 72% of all potential buyers use the internet to find information when purchasing a home in
Houston.

Next a home needs to be Staged, if a home does not show well it will not sell well:

5 Cs of Real Estate

• Curb Appeal—Exterior’s Presentation (i.e. clean driveway, cut grass, exterior paint, etc.)
• Challenges—Obstacles or Inconveniences (i.e. needs new roof, inconvenient access, etc)
• Comparative Value—Commonalities and Distinctions (i.e. list price, sales price, style, sq ft, # of bedroom, etc.)
• Condition—Current
  Relative
  State (i.e. year built, state of home compared to other comparable homes, etc.)
• Charm—Distinctive Characteristics (i.e. prewar features, crown moldings, high attention to detail, etc.)

-These 5 rules of thumb are a timeless way of displaying your homes selling points while underplaying your homes greatest defects or flaws. 

-Overall when staging your home just remember “no clutter”, “open spaces”, and “a welcoming atmosphere”.

 Finally the most important element as to what sells a home is Competitive PRICING 

Think of price in relation with time; what is more important and what combination of (X) time and (Y) price will give you the most utility.

Again below are two charts that demonstrate the importance of competitive pricing in any market:

-Simply put you will maximize your returns if you market the property at fair market value

-You will receive a lower level of interest in the property if you over price the home

-You will receive a higher level of interest in the property if you market the property at a lower price, however; these buyers will most likely be a waste of time and you could get stuck in a deal that you do not want to go through.  Simply because they are tailoring to the wrong demographic.

-In short, you cannot sell a $200,000 home in a $150,000 neighborhood which is why you should price competitively not accordingly

I wrote this post for one reason only—to inform all active and potential sellers out there to beware of lazy agents.  Make sure you constantly check in with your real estate agent, make sure they are holding open houses, make sure they are constantly pursuing the marketing strategy as promised, make sure they keep you informed, etc.  Overall, hold your agent accountable and always place quality control barriers when hiring a new agent.  Again, there is no excuse for a sub par agent so do not settle for one.

West Bend, Houston  -  Announcing a price reduction on 4119 Knoll Glen Dr, a 1,613 sq. ft., 2 bath, 2 bdrm single story "Patio Home". Now MLS® $99,500 - .

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