Home Selling in Katy>Question Details

Aleciamb, Home Owner in Katy, TX

I bought my home two years ago, I am looking to sell and purchase something different. Is it too soon?

Asked by Aleciamb, Katy, TX Wed Oct 30, 2013

Help the community by answering this question:


It's a seller's market, so a great time to sell. We have a wonderful program where you can sell you house for FREE.
Darryl Hill / Realtor
0 votes Thank Flag Link Fri Nov 1, 2013
Thank you all for the quick response. We want to sell because we want something in a different neighborhood and more up-to-date. I will do some research and contact the agency we feel best meet our needs. By the way we are in Ricewood village.
0 votes Thank Flag Link Thu Oct 31, 2013
the foreclosures sold at an average price/sq. ft. of $45.66, the sales by owner occupants sold at an average of $57.41/sq. ft. and the new builder's homes sold at an average of $62.39/ sq. ft., but, of course that number is substantially inflated due to large builder incentives.
At any rate, the numbers show that it is likely that proceeds from the sale of your home would not only cover all expected selling expenses, but also yield a profit; especially if the purchase included a substantial cash down payment and/or a lower than average purchase price. Also, the homes sold within the past three months sold at a 9% higher price than the overall yearly average; so values are appreciating rapidly - that works to your favor whether you decide to sell now or wait for values to improve.
I hope that you find this information to be helpful whichever way you decide to go.
Flag Fri Nov 1, 2013
The information regarding the specific neighborhood is helpful in providing information that you may find useful in your consideration as to whether or not now is a good time for you to sell.
Ricewood Village has not been one of the neighborhoods experiencing the highest sale price appreciation rates in the area, but has appreciated in value and appears to be continuing to appreciate in value.
* In 2011, there were 34 homes sold and the average sold price/sq. ft. was $47.13
* in 2012, there were 29 homes sold and the average sold price/sq. ft. was $50.00 - this represents a 6% overall sales price appreciation for the year
* in 2013, there have been 48 homes sold and the average sold price/sq. ft. was $57.48 - this represents a 13% overall sales price appreciation for the year and a 22% increase over 2011 sales values.
Of the 48 sales in Ricewood Village year to date, 19% were foreclosures; 37% were sales by owner occupants and 44% were builder sales.
Flag Fri Nov 1, 2013
It's a Great Time to sell!
Contact me and we can discuss the various money saving options I can offer you.
Being the Broker and Owner allows me the flexibility of saving you money listing your current home and buying you another.
Let's discuss how we can get your home the exposure it needs to get the price you want in the shortest amount of time.
Call,text, or email me and we can get started!

Ron Hardman
281-381-8358. Anytime Direct
0 votes Thank Flag Link Thu Oct 31, 2013

This is not a question that lends itself to a simple answer. First, you should be aware that the "typical" costs for selling a home range from about 9% to 11% of the total sales price considering commission, normal closing costs and any required repair expenses associated with the sale.

Next, while it is true that many neighborhoods in the Katy area have experienced substantial value increases in the past two years, it is very neighborhood specific and some neighborhoods have had little, if any, market value increases. Be sure to obtain a comprehensive market analysis with an emphasis on recent sold prices to obtain a realistic expectation of probable sales value. Also, insist upon being provided with a realistic "seller's net proceeds estimate" from whichever agent you choose. It is possible (depending upon all of your specific factors that you may be able to sell the home and walk away with substantial net proceeds from the sale, but it is also possible that there could be no realistic expectation of a gain or even a net loss.

Finally, it is important to consider your motivation for selling. Do you feel you made a mistake in purchasing the home two years ago and just want to get out of the home and neighborhood? Are you wanting to move up to a different home and neighborhood and do you need a specific amount of proceeds from the sale in order to make the move?

I'm sorry to be unable to give you a quick yes or no answer to your question, but the answer to the question is really as unique as your own specific circumstances and motivations. I would be happy to visit with you either in person, by telephone or by email correspondence - with no cost or obligation on your part. I'll be happy to give you all of the information necessary for you to answer the question for yourself.

David Bell
Coldwell Banker United REALTORS
0 votes Thank Flag Link Thu Oct 31, 2013
If you are ready to move than it's the right time. I have buyers waiting for new homes to enter the market. I have a sure fire way to cash you out of the current home and help you get into a new home. My direct number is 832 398 1531.
0 votes Thank Flag Link Thu Oct 31, 2013
It is a great time to buy a house as interest rates are still low. If you need the equity from your home in order to purchase another one then you will need a REALTOR® to assist you in determining the current market value of your home. Keep in mind that there is cost for the seller when the home is sold. The seller's cost is typically about 10% of the sales price so be sure to deduct that amount from the your home's equity to get your approximate net from the sale.

I would be happy to provide you with a free market analysis of your current property. I will also set up email notifications for houses for sale in the area that you are interested in moving to, that are updated daily, at no cost or obligation. My website has lots of tools to help you with finding information about subdivisions and schools so check it out and let me know how I can help you.
0 votes Thank Flag Link Thu Oct 31, 2013
Aleciamb, Check out recent SOLDS that are similar to your home in your neighborhood. Then deduct the estimated closing cost and any mortgage(s) you still owe and see what you are left with. Actually I would also deduct moving expenses and buying expenses on the new home. The remaining balance is the answer to your question.

Talk with a Realtor you trust and or knows your neighborhood. Wishing you great success!
0 votes Thank Flag Link Thu Oct 31, 2013
It is not too soon if you are ready, value shave also increased in many areas. Make sure you choose a good agent to list with who is full time and local/ Good luck with your sale
0 votes Thank Flag Link Thu Oct 31, 2013
Good morning, Right now it is a Seller's market! This is a Great Time to Sell your home! I specialize in the Katy Area. I have proven marketing strategy that has sold homes in less than 4 hrs and over asking price! I also have a 5 Star Rating on Houston Association of Realtors. Please call or email to set up a time to discuss your home and neighborhood market. Thank You and Have a Great Day!
"Your Local Realtor"
Best Regards,
Richard Luebeck
Elite Texas Properties
12320 Barker Cypress Road
Suite 600-224
Cypress TX 77429
Cell 832-646-2886
0 votes Thank Flag Link Thu Oct 31, 2013
Was this house purchased as an investment last year? or was it your primary home?
Also, market has changed and its a sellers market especially in Katy where homes do not stay more than a few days and its SOLD.

If there are still building new homes in your neighborhood?
Your area market trends need to be considered.
Do you want to make a profit ? because you will incur costs to sell.

Apart from these there are several factors to be considered.
Please interview a few REALTORS that knows the are well and also browse here under my web links.
Good luck and I am here to help you with NO OBLIGATIONS.

Kadibhai (Kadi)
Better Homes & Gardens Gary Greene, Realtor Katy/Houston
Phone: 832-228-7978
Fax: 281-646 1841
Email: kadi.kadibhai@garygreene.com
Web: http://www.har.com/kadi
"The highest compliment I am ever given is when
I am referred to your family & friends!"

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0 votes Thank Flag Link Thu Oct 31, 2013
Good question!! It does depend on the neighborhood you are in but for most neighborhoods in the Katy area now may very well be the best time to make a change...before interest rates get higher and while inventory is at such a low. BUT with inventory being so low finding the new home will be the main issue, selling your current home may take as little as 24 hours or less (again depending on the location) I listed a home last Thursday and had 4 offers in the first three days. This house was purchased 4 years ago and we were able to list with a 30% increase.

All the standards of Real Estate has changed this last year, in the past you would need to stay in your home for at least 4-5 years to see any increase in value, not today! Before if you bought in a new subdivision and wanted to sell before the subdivision was completed you would loose money, not today!

Contact your Realtor or interview Realtors that know they area well and check your options.
0 votes Thank Flag Link Thu Oct 31, 2013
Good morning. My team & I would honor the opportinity To schedule a personal consultation with you to review your options. We are in a sellers market and now is a great time to have your home on the market. Inventory is low & buyers are plentiful!

Please call me to schedule your appointment today!
Donna Wisenbaker Barrett
Keller Williams Realty
0 votes Thank Flag Link Thu Oct 31, 2013
Hello Aleciamb, Jag Baichan here with JAG Properties/Keller Williams Signature in Katy. I would be more than happy to set up an appointment with you to go over numerous items. First would be to go over your current neighborhood and put together a Comparitive Market Analysis(CMA) and see where we can price your home, this is a free sales consultation to you and your family! We would go over the market trends in your present neighborhood, go over a marketing plan and show you how I would get your home sold If you decide it is the right time to sell. Just FYI, we are in a Seller Market! I will not be the only person trying to sell your home, my office consist of 250+ of some of the best agents in Katy/Houston. Would it offend you if you had the assistance of 250+ agents helping to sell your home today? Please give me a call at your first convenience and lets set up a consultation.

Thank You,
Jag Baichan
JAG Properties/Keller Williams Signature
The Trusted Name In Real Estate!

Heres a link to a mobile app that will make your home searching an ease! Make sure your enter the access code KWFNOCE
0 votes Thank Flag Link Wed Oct 30, 2013
If you are questioning it in regards to getting your money back out or making a profit, it depends on your homes current market value, You can email me at Jacob@MyKatyAgent.com your street address and I will give you the market analysis. Chances are, in the Katy area you should be fine with this move. Best Regards ~ Jacob (832) 247-6643.
0 votes Thank Flag Link Wed Oct 30, 2013
Of course not! Prices have increased in Katy this year. Of course, we would have to carefully look at your home, the neighborhood and the home's condition, but there is a good chance that you will come out okay. Please let me know if you'd like an appointment for me to come look at your home and discuss this with you. I am an experienced realtor in Katy and know the area, neighborhoods, schools and amenities very well. Good luck! I do a free comparative market analysis for sellers so they have a clear understanding of their market. :)
0 votes Thank Flag Link Wed Oct 30, 2013
Not if you're ready and you want something else. Talk to your tax professional to see if there are any issues with taxes or capital gains.
0 votes Thank Flag Link Wed Oct 30, 2013
If you are ready to move than it's the right time. I have buyers waiting for new homes to enter the market. I have a sure fire way to cash you out of the current home and help you get into a new home. My direct number is 832 398 1531.
Flag Thu Oct 31, 2013
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