Any home sellers have input on the real estate market? - Houston - Texas (TX) - Page 3 - City-Data Forum

futuregleam · 04-29-2021, 04:34 PM

I've been house hunting since Oct. I primarily looked in energy corridor and southeast Katy, but out of curiosity had looked at the rest of Katy. It looks like the housing market there is on FIRE. If you go on HAR and look at only option pending and pending houses in Katy, you'll notice that most of them say just a few days. The days on market freeze once it goes into option pending status. So you know that there was probably a bidding war, or someone with offer above asking.

You can go onto realtor.com and look up your home estimated value. I see that most houses list a bit above that nowadays.

If you're worried about over pricing, ask your realtor to pull comps from the last 6 months in your area. You can price it as per comp, which probably will result in a massive bidding war, or price it slightly higher and see if anyone bites. If your house has some attractive feature that others in your areas don't have, like cosmetic upgrades, then you can feel safe pricing higher than comps.

mojo101 · 04-30-2021, 10:18 PM

houses in subdivision along 1903 and 1464 have not gone up much,you can get one for under $225K

Houston321 · 05-01-2021, 08:51 AM

Quote:

Originally Posted by mojo101

houses in subdivision along 1903 and 1464 have not gone up much,you can get one for under $225K

I assume you mean 1093. But what zip code are you referring to? I just did a search in all of zip code 77406 in Richmond and there is ONE home listed under 250K in the entire zip code. I also did all of zip code 77407 and there are THREE homes listed under 250K in the entire zip code.

I have been doing real estate for quite a long time in this area, and these numbers are unheard of.

HookTheBrotherUp · 05-03-2021, 12:06 PM

For what it's worth, I hired a painting contractor to paint my home... he told me that right now, people from out of state are having to bid on home construction projects in Houston because it is so good for them. For sure, it seems like a time to sell.

Jtxg · 05-04-2021, 11:59 AM

Just as a follow up - I listed my house last night....I think it went on HAR around 8PM. So far, there's 5 showings scheduled and two of the agents have texted my agent to see if there's any offers.

Jtxg · 05-05-2021, 10:09 AM

For anyone else wondering about the market, here's my update. Of course, location and price range probably affect this some but just data points. Home in Richmond went on HAR Monday 5/3/21 around 8PM. On Tuesday 5/4/21 a total of 17 showings. 4 offers received by 3PM. Lowest offer was asking price. Settled on an offer that had a large down payment, a full appraisal waiver, and over asking price by about 3%. Time on market: 1 day.

This type of market is so foreign to me. When I sold a couple years ago the house was on the market for several months and I lowered my price about $30k to get out of it. Crazy. Seems like a great time to be a listing agent Realtor, but to work with buyers has got to be stressful for those agents.

gwarnecke · 05-05-2021, 10:50 AM

Congratulations!

HookTheBrotherUp · 05-05-2021, 10:51 AM

Quote:

Originally Posted by Jtxg

For anyone else wondering about the market, here's my update. Of course, location and price range probably affect this some but just data points. Home in Richmond went on HAR Monday 5/3/21 around 8PM. On Tuesday 5/4/21 a total of 17 showings. 4 offers received by 3PM. Lowest offer was asking price. Settled on an offer that had a large down payment, a full appraisal waiver, and over asking price by about 3%. Time on market: 1 day.

This type of market is so foreign to me. When I sold a couple years ago the house was on the market for several months and I lowered my price about $30k to get out of it. Crazy. Seems like a great time to be a listing agent Realtor, but to work with buyers has got to be stressful for those agents.

I texted someone about this, I hope it was not on CD, but if so, forgive the duplicate...

Last Thursday, my good friend who lives in Sugarland said his neighbor was trying to sell his house in the past, but had no interested people. He took it off the market a couple of years ago. A couple of weeks ago, he put it back on and it was sold in three days, 50K over asking price (mini bidding war).

Failed Engineer · 05-05-2021, 11:54 AM

Yes, that is definitely happening in SL. There's a lot of homes that are popping back up in MLS that were previously on but then withdrawn. This market is pretty much brand new territory for Houston suburbs.