How to arrive at the best listing price for your property

Before you list your home for sale, you have to decide on an asking price. Many consumers consult real estate websites, but be aware that not all such websites have reliable information. The best source for reliable info A Texas REALTOR® has the accurate information you need to arrive at a competitive price to attract buyers. What makes a Texas REALTOR® a trusted source? One reason is that a Texas REALTOR® has access to actual sold data that he or she can use to determine the sales price of properties similar to yours. Some of the criteria used are: • Location. Properties in the same neighborhood or located as close as possible to yours. • Timing. Properties that were sold recently, preferably within the past few months. • Size. Properties that are relatively the same size based on square footage, number of floors, or the size of the lot. • Features. Properties with the same number of rooms, comparable amenities, or similar upgrades. How’s the market? Another important factor in determining a listing price is how your local real estate market is performing when you decide to sell. Is it a buyer’s market where inventory is high, or is it a seller’s market because there many homes listed? A Texas REALTOR® has the resources, experience, and knowledge to help you reach your real estate goals.

Can I send counteroffers to more than one buyer?

Three different buyers submitted offers for my house. Can I send counteroffers to all three and accept the response I like best? When you make an offer or counteroffer, you give the other party the power of acceptance to create a binding contract. Therefore, if each buyer accepts your counteroffer, you would be legally bound to sell the property to three different buyers. You could make a counteroffer to only one prospect. Or, if you’re working with a Texas REALTOR®, he or she can provide each buyer with the Texas Association of REALTORS® form Seller’s Invitation for Buyer to Submit New Offer. This form indicates that you aren’t accepting the original offer, and allows you to outline what you’re looking for in a subsequent offer. The form also states that your property will remain on the market, and that you may consider and accept other offers.

3 expenses other than the mortgage you need to be able to afford

Your loan terms greatly affect how much you can spend on a house, but the mortgage isn’t the only cost you need to take into account when buying property. Consider the government Find out what the property taxes are on a house. Will yours differ? You may not qualify for the same exemptions as the current owners, or you may not benefit from appraisal caps in place. Also, taxes can vary from one neighborhood to the next, so see if comparable homes relatively close to one another are subject to different taxing entities. The cost of membership Are you buying in a homeowners association? Fees for HOAs can reach several hundred dollars a month. That cost may be worth it to you for certain amenities, but you should factor this cost into your buying decision. Keep the lights on Even though utility costs are consistent within a community, the size of a house and its energy efficiency can mean great differences in your bills. You may be able to look at past bills from the utility company, or you can ask the current owners if they will provide copies of their past statements. Once you know how much your mortgage will cost, figure out what else will contribute to your monthly bills. Be sure to have your Texas REALTOR® help make these determinations.

How to increase the value of your home without spending a lot of money

Sellers, would you clear up the clutter in your home if you could increase your asking price by 3% to 5%? A survey done by the Consumer Reports National Research Center shows that this and other easy changes will do just that. According to Consumer Reports, basic cleaning and decluttering, simple kitchen and bathroom upgrades, painting the right spaces, and sprucing up your curb appeal are all low-cost investments that can land you hundreds of dollars in return. Get tips on what fixes to make, the cost if you do them yourself or hire an expert, and how much of a return you get on those investments in “Top 5 ways to boost the value of your home” from Consumer Reports.