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Nov. 7, 2020

3 Reasons to Sell Your Home in 2020!

Even with COVID-19 thrown into the Real Estate equation, supply and demand have begun creeping back up in places that deemed real estate an essential service, such as Texas.  People remain motivated to move for many different reasons:  both happy and sad. 

Employees are still being transferred, families are still having children, and those who find themselves unemployed are looking for less expensive areas and fresher opportunities.

So, while there are many reasons to put your home on the market, here are my top reasons to sell your home in 2020:

Interest Rates are Expected to Remain Low.  On April 23, Freddie Mac reported that the average mortgage rate was 3.33%.  Even if the economy rapidly recovers this summer, the expectation is that interest rates will remain low.  That's great news if you’re looking to finance a home purchase or you need buyers to secure an affordable mortgage so you can sell your home.

You Have a Starter Home.  We live in an area where home prices climb quickly, and multiple offers are the norm for entry-level home prices.  This home type is likely to still see buyer activity through the end of the year.

You NEED to Move.  Your children are going to be starting school and you want a better school district.  You have welcomed a new baby, and your home is now too small for your family.  Needing to move isn’t always a positive.  You may have lost your job and you are worried about being able to continue to pay your mortgage.  Selling for you is also a valid option.

For all reasons, it is best to hire an agent with a strong marketing plan and advice on how to prepare your home to get maximum value.

Let's connect so you have a trusted real estate professional to help you safely and effectively navigate through all that's new when it comes to making your next move.

RE Questions?  Email: gina@ginasohmerrealestate.comor call/text to (210) 608-0650.

Gina M. Sohmer, is a veteran, a Graduate of the REALTOR® Institute, a Certified Negotiation Expert, a Seller’s Representative Specialist, an Accredited Buyer’s Representative, a 2019 Winner of the Nextdoor Neighborhood Favorite Award, and a REALTOR® with eXp Realty, LLC.  

Nov. 7, 2020

Keys to Selling Your House Virtually

Do you need to sell your house now?  In today’s rapidly changing market, it is important that you and your realtor use virtual listing practices to make sure you, your family, and potential buyers stay safe in the process!  An effective online marketing strategy is A MUST when selling your home in a post-COVID-19 environment.  So, if you're ready to move forward, these virtual practices can help you have a successful sale.

While abiding by state and local regulations is a top priority, a realtor helps make your sale happen because they have the tools and know exactly what today's buyers need to make a purchase decision.  Your realtor should provide:

-          High-quality listing photos and Video Virtual tour of the home

-          Accurate and Detailed Listing and Neighborhood information

-          Agent-led video chat/Video Open Houses

Serious buyers will still want to see your house in person.  There are ways to proceed safely!  While the top priority should always be to obey state and local restrictions first, here are a few guidelines: 

-          Prevent overlapping showings – one set of buyers at one time per showing appointment.

-          Require guests to wash/sanitize their hands or wear gloves.

-          Provide booties and require buyers to cover shoes.

-          Follow CDC guidance on social distancing and wearing face coverings.

In a new era of life, things shift quickly, and virtual strategies for sellers are a great option!  Opening your doors up to digital approaches is game-changing when it comes to selling your house. 

Let's connect so you have a trusted real estate professional to help you safely and effectively navigate through all that's new when it comes to making your next move.

RE Questions?  Email: gina@ginasohmerrealestate.comor call/text to (210) 608-0650.

Gina M. Sohmer, is a veteran, a Graduate of the REALTOR® Institute, a Certified Negotiation Expert, a Seller’s Representative Specialist, an Accredited Buyer’s Representative, a 2019 Winner of the Nextdoor Neighborhood Favorite Award, and a REALTOR® with eXp Realty, LLC.  

Nov. 7, 2020

What Does It Mean When My Realtor Says Texas is a Non-Disclosure State?

Very simply, Real Estate Sales Prices are not listed in any publicly recorded documents nor is the sales price shared with a governmental agency.

Texas is a “non-disclosure state” because no law exists that requires that real estate sales price information be provided to third parties.  Third parties in this instance, are different state and local government agencies, specifically taxing agencies.

The warranty deed is the legal document transferring ownership of a property that is part of the public record.  In Texas, the sales price is not on this document but instead wording something like “Ten Dollars and other good and valuable consideration” is used.

If a mortgage is utilized in the purchase, the amount of the mortgage is publicly available in both the warranty deed and the deed of trust, but not the total sales price.

Why is this a benefit?

Because of non-disclosure, the true value of a home is sometimes much, much higher than what is indicated by the local tax appraisal district, which is the amount that you pay property taxes on.  Do you want to pay more taxes?  Of course not!

Many online sites, such as Zillow, attempt to provide you a “value” for a home.  The fact of the matter is that, in Texas, ONLY Realtors and Appraisers have access to true sales price data, which is the most important data used when establishing home value. 

There are only a few reasons a real estate agent will ‘disclose’ a sales price; sharing can be done with clients for purposes of pricing homes, making offers on homes, and other client specific reasons, like leasing, financing and appraising a property.

Dreaming of selling your property?  Call me to help you realize Your Real Estate Dreams!  See you next time! 

RE Questions?  Email: gina@ginasohmerrealestate.comor call/text to (210) 608-0650.

Gina M. Sohmer, is a veteran, a Graduate of the REALTOR® Institute, a Seller’s Representative Specialist, an Accredited Buyer’s Representative, a 2019 Winner of the Nextdoor Neighborhood Favorite Award, and a REALTOR® with eXp Realty, LLC. 

Nov. 7, 2020

Why 2020 is the Perfect Year to Sell That Big House and Downsize!

Downsizing your home might not make sense in every situation, but it's worth looking at if saving money and simplifying life appeals to you.

Spending less on housing means you can reduce the amount you withdraw from investments -- or just have more wiggle room in your budget.  Downsizing to a smaller, less expensive home allows you to reduce other housing costs to make living more affordable.  Not only can you cut your mortgage costs, but other expenses are likely to be reduced as well!  Smaller homes have smaller costs for utilities, pest control, yard maintenance, HOA fees, homeowner’s insurance, and of course basic home maintenance.  You could save some serious cash that you could put toward vacations or just living life!

Here are some 2019 yearly statistics from the San Antonio Board of Realtors that might help you make your decision:

Area Home sales rose by 7% in 2019 ending in a total of 34,430 homes sold.

Both the overall average and median sales prices for a home in 2019 increased 4%!

2019 Housing Inventory remained below four months!  This favors sellers!  Seller’s markets usually occur when the economy is good and there is low housing inventory available in the area.

So, what is a seller’s market?  Seller’s Market is a real estate term, indicating that there are more real estate buyers in the market than there are sellers.  When demand is higher than the supply, home prices increase, which benefits sellers, and buyers have little room to negotiate price!

When this occurs, more buyers offer non-contingent contracts, and buyers are less likely to ask sellers to make concessions, such as paying loan points or closing costs.

Who are you going to call to help you sell off that big house and get you started on simplifying Your Real Estate Dreams?  Why me of course!  See you next time! 

RE Questions?  Email: gina@ginasohmerrealestate.comor call/text to (210) 608-0650.

Gina M. Sohmer, is a veteran, a Graduate of the REALTOR® Institute, a Seller’s Representative Specialist, an Accredited Buyer’s Representative, a 2019/2020 Winner of the Nextdoor Neighborhood Favorite Award, and a REALTOR® with eXp Realty, LLC. 

Nov. 7, 2020

How RE Agents Determine Listing Price Opinions

A Comparative Market Analysis (CMA) is done to set an accurate and realistic property price.  A CMA compares similar homes sold in a neighborhood and considers many factors about the seller’s property, such as:  age, square footage, and number of bedrooms and baths. 

But that isn’t the whole story and shouldn’t be all that is considered!  Neighborhood amenities, location, school districts, commutes to major employment centers, property condition (most buyers are turned off by ‘fixer-uppers’), external forces such as road closures, re-routed highways, traffic congestion, etc. and other items are also heavily considered by buyers and must be weighed in a pricing decision.

It is also important to know what price is entirely unacceptable to buyers.  To do that, an agent looks at area expired listings (homes that were listed for sale – but, did NOT sell).  These tend to reflect unrealistic and inflated prices. 

When selling a house, it's vital to price it correctly.  Too high and the house stays on the market forever, while other homes in the area are bought.  Too low and the seller doesn’t get fair value in the sale.  

If a seller is interested in a quick move, they need to know how long neighborhood homes stay on the market.  This information is used to further inform the seller and provide realistic expectations of how long the house could be on the market and whether they can expect to obtain their full list price.  Sellers should know that buyers pay attention to good deals, many times regardless of quality, when the market is extremely competitive. 

Savvy buyers will also make use of an agent who will do a buyer’s CMA to ensure that they're getting a good deal on their housing purchase.

Who are you going to call to learn more about the local market, the value of your home and to help make Your Real Estate Dreams Come True?  Why me of course!  See you next month! 

RE Questions?  Email: gina@ginasohmerrealestate.comor call/text to (210) 608-0650.

Gina M. Sohmer, is a veteran, a Graduate of the REALTOR® Institute, a Seller’s Representative Specialist, an Accredited Buyer’s Representative, a 2019/2020 Winner of the Nextdoor Neighborhood Favorite Award, and a REALTOR® with eXp Realty, LLC.