[dropcap]D[/dropcap]ear Terese,
What is the busiest month for sales activity?
Chrissy
Dear Chrissy,
Ali Anari, with Tierra Grande, the Journal of the Real Estate Center at Texas A&M University, recently published an article about the seasonal pattern of sales in Texas. In Texas, sales activity tends to accelerate beginning in March and peaks in summer. It may help the likelihood of selling your home if you put it on the market before the area’s peak month. For buyers, more homes are available to choose from in the early spring and summer. In 2015, January was the lowest number of sales, and June had the highest. The factors that are most influential in Texas home sales are school calendars, holiday, weather, and jobs in the education industry. Putting your home on the market before the peak season may be beneficial, but check with a local area expert on the current availability of similar homes.
Dear Terese,
I’ve seen prices escalate in my area, and I’m thinking about selling my home. How long do you expect this rise in home prices to last?
Jeff
Dear Jeff,
Local home prices have recently been driven by population and economic growth. Lower price point sales have been constrained by tightening of the home supply and demand for construction contractors. Although higher land and labor costs have seen a decline in affordability in the state, there is growth in sales of homes priced $300,000 to $399,000. Austin & surrounding areas are in the top market for housing investments in 2016. The good news is the low interest rates. The market changes every 30 days, so if you’re ready to sell, have a current market analysis prepared by a local real estate expert.
Dear Terese,
My home was under contract, and the buyer missed the closing. Does the sales contract terminate if they did not sign closing documents by the date in the contract?
Junior
Dear Junior,
I would recommend you contact legal counsel to determine how to proceed.
Tip of the day: “There is only one way to avoid criticism: do nothing, say nothing, and be nothing.” –Aristotle
Terese Peabody, Broker Associate, Stanberry & Associates, GRI, CRS, ABR, SRES, CNE, GREEN, CLHMS
400 Hwy 290 W, B-101, Dripping Springs, TX 78620
[email protected], www.tpeabody.com 512-894-3488 office, 512-699-7711 cell
