Selling By Owner or Not?Do I Sell My House By Owner or Not?

Homes are selling so quickly right now, should you sell your home by owner?

You might find 1 buyer for your home and negotiate a contract, but wouldn't you rather have everyone who is looking at homes like your see your home at one time?

Because of the lack of inventory of homes for sale right now, many people are seeing multiple offers on their homes when they put them on the market with a Realtor.  Multiple offers means that you sell your home for a higher price and for better terms.  Homes sell for 13% more money with a Realtor than by owner, which is way more than the commission that you would pay a Realtor.  I know it is tempting to "save money" by selling it yourself, but you end up making less money selling it yourself.  Call Nathan Walldorf to sell your home.  He has the kind of marketing that gets the home in front of even more people than the typical Realtor in less time.  Nathan is also a broker and has been in real estate his whole life.  Call Nathan at 423-544-7700.

National Existing Home Sales Up 3% in February

The number of homes for sale is tight and prices have been climbing, but home sales were still up in February across the US.  Home sales in the south contributed to those home sales numbers.  Here is what Lawrence Yun, National Association of Realtors (NAR) Chief Economist, said of home sales in February, "A big jump in existing home sales in the South and in West helped the housing market recover from a two-month sales slump."  Yun also expressed that the economy and job growth are good, so people are expressing interest in buying a home right now.  Median existing home sale prices were up 5.54% in February.  46% of homes sold in February were on the market for less than 1 month.  Yun also said, "To fully satisfy demand [for homes for sale], most markets right now need a substantial increase in new listings."

One interesting fact, foreclosure sales were only 4% of the market in February.  Don't expect a large foreclosure inventory in this real estate market.  It simply does not exist any more. 

In the south alone, existing home sales jumped 6.6%.

My advice, pull the trigger quickly on the home that you like in the Chattanooga area.  If you are selling, homes are selling quickly if you price the house right.

May 10, 2018

Don't Miss Out on the Chattanooga Home You Want

Don't Miss Out on the Chattanooga Home You Want

The real estate market right now is one where that are few properties for sale and many home buyers looking to buy a home.  What that means is that you have a good amount of competition when buying a home.  You are not the only person looking at a particular home.  If the home looks good to you, it probably looks good to many other people as well.  For most home buyers, they don't physically see the kind of competition that they have for a home.  When a home goes on the market that you like or has a price change, it is most likely being shown to many different potential home buyers.  


When I, as a Realtor, see that my client is interested in a Chattanooga home for sale, I call the seller's Realtor to see if many people are showing the home and even to see if the home is still available.  Sometimes you never know.  The seller may have just accepted an offer and their agent may not have changed the status of the property in the MLS yet. On Monday, I made that very phone call to a seller's Realtor to find out that the Chattanooga home that my client liked had received and unaccepted offer the evening before.  That meant that my home buyer had time to make an offer, but her offer had to be a good offer.  She made a great offer, and she got the property.  If she had made a lower offer, the seller could have asked both parties to bring their highest and best offers within a few day's time, and my home buyer would have paid more money that if she had simply made an acceptable offer from the beginning.  In today's market, that is the advice that I give to my home buyers.  If you want to make an offer on a property, make it an acceptable offer (meaning an offer that the seller would not counter) as long as the property is worth that amount of money.  If the Chattanooga home seller does counter your offer, that gives other potential home buyers the opportunity to make an offer and leads to you having to pay more money for the house than you would had you made an acceptable offer from the start. 


I know that logic seems to defy all that you have heard about bartering.  If that logic were not true in today's market, I would not be giving it.  Would you rather pay a fair price for a home from the get go or pay an inflated price after you make your low offer?  It's up to you.  Don't miss out on the Chattanooga home that you want by making the wrong offer. 

Posted in Market Updates
July 31, 2017

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