Home Selling in Edmond>Question Details

Michele Wats…, Home Buyer in White City, Tulsa, OK

Relocating after just having bought brand new home with tons of upgrades. Will it be hard to sell w/new construction all around? stone Manor Lakes

Asked by Michele Watson, White City, Tulsa, OK Sun Aug 11, 2013

150th and N. Council, new development, but lots of extras we paid for and we are going to lose money on this I believe.

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I'm hearing that used homes are receiving multiple offers in many areas of the metro almost as soon as the home is listed. Call Josh Barnett @405 315 7965. He has had great success getting homes sold quickly. Good Luck!
0 votes Thank Flag Link Thu Aug 22, 2013
Never know until you put your home on the market, best of luck.
0 votes Thank Flag Link Mon Aug 12, 2013
Hi Michele,
You have received some good information from the other responders. We are currently in a Seller’s Market and with your upgrades / extras certainly may not be hard to sell your home. Not losing money unfortunately may be more difficult to obtain for no longer than you have been in your home. If the right Buyer comes along you’ve got to do everything you can to make your home more appealing than the competition with the Realtor you select. YTD in Stone Manor Lakes there have been 10 homes sold, including yours, averaged size of 3,615 sq ft at an average price of $108.96 per sq. ft. In the last 3 months 6 of the 10 homes sold averaged size of 3,515 sq ft at an average price of $109.84. The Competition: currently 8 homes for sale and 5 of these your home will be directly competing with and the possibility of more coming on the market.

Michele, you also mentioned with “tons of upgrades” which depending what these are can bring additional value vs. the competition. Hopefully your upgrades will offset Builder’s incentives you’ll be competing against. If not, for a quick sell you’ll have to offer similar of greater incentives. I can perform my maximum home value audit to help you price your home. Oh, and you probably know this, but make sure you keep track of all of your expenses on your home and upgrades for tax purposes.
405-562-0886 or bill.hayden@cbokc.com. Please do not hesitate to contact me if you have additional questions or concerns. I’ll help you anyway I can.
0 votes Thank Flag Link Sun Aug 11, 2013
It is possible to make money, break even or lose a little. It depends upon the market activity for the community. A Realtor can provide you with a good assessment on what has transpired since you purchased. Offering closing costs & a home warranty should equal the playing field. As mentioned, the Realtor fees will be your largest selling expense. It is well worth the expense to go with a Realtor or Team featured on this site, Zillow, Realtor, Homes and the other "big" Real Estate sites. Getting you most exposure will provide the best results. Discount Brokers, "Entry Only", or For Sale By Owner status, will not get you the "featured exposure" you need to sell in a timely fashion!

If you are getting a relocation package, it helps to verify the allowed expenses in the offer, or with a Cartus, Weichert (and others), relocation company. A local Realtor can also help with a Realtor in "the new town". This may provide you a little credit on the sale.

Typically, a thorough evaluation of the market activity in your area, your home itself, & your upgrades against the "standard items" in your area, will provide a true picture. If the mortgage payoff & potential return (or lack thereof), do not meet your expectations, a Real Estate company can manage a lease situation on your behalf, and we suggest revisiting the sale option on a yearly basis. If you have to sell before you can buy, there are still more variables to consider. We all have experienced situations where there was a profit, a break even, and a loss. Every situation is unique & deserves careful consideration.

Best of luck with your choice!
Web Reference: http://www.ubhometeam.com
0 votes Thank Flag Link Sun Aug 11, 2013
If it's a newer neighborhood and you have competition from builder(s), it might help to offer to pay some or all of the buyers loan closing costs, esp if the builder offers to do the same. My Guaranteed Home Sale Program works great in the OKC Metro area....
0 votes Thank Flag Link Sun Aug 11, 2013
Depends on who you list with. Make sure you choose an agent who really "works" for you! BTW I know a great agent! 974-9991.
0 votes Thank Flag Link Sun Aug 11, 2013
No Not necessarily: You might lose your closing cost, but those are deductible, Your biggest exspense will be the realtor fees:
If you would like to discuss this I will be glad to sit down with you and discuss all the possibilities that will keep you almost in line:

Thank you
john Phillips
405 413 0791
re/max preferred properties
0 votes Thank Flag Link Sun Aug 11, 2013
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