Home Selling in 77373>Question Details

courtney rob…, Home Buyer in Austin, TX

Update on Exxon in The Woodlands?

Asked by courtney robinson, Austin, TX Tue Aug 9, 2011

Looking to sell home.Comps are selling with owner taking a loss/bringing money to closing. Forcast for Exxon influence? Should we hold off...for how long? Rent?

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Exxon Mobil is going to help our area in many ways, although the expectation of an imediate reaction to our local real estate market is much to soon to see. The outlook is 2014 to be completed with the construction of the campus. The market will see a steady amount of buyers and or renters.
However, the current market is still very much a Buyers market and if you think as a Seller that you will get an inflated sales price of your home right now it simply isnt the case. The buyers in todays market are looking for the best deals and they have so much inventory to choose from. Pricing is everything right now and the motivating factor in why homes are selling. If you are looking to sell and are also going to be buying another home you can sometimes justify the loss you will take on the sale of your home when you consider the deal you will get on the home you will be purchasing. But if its not imperative that you move and sell now I would stay put. Don't put off repairs and maintenance of your current home keep up the interior and exterior and get a jump on reading your home for sale when the market conditions are better. I would suggest you get a CMA done now on your home (current market analysis) and have the agent give you a Seller Net Distribution with it and compare it on a quarterly basis you will see the trend of either a decrease or increase and can choose the appropriate time to list from there.
I hope this has helped you some. If you have any further questions don't hesitate to call me anytime!

Kimberly McCampbell, Realtor CMS PS
"The McCampbell Team"
Real Living Houston Home Sales
281-652-6725 cell
1 vote Thank Flag Link Fri Aug 12, 2011
The lastest update on Exxon Corporate Campus is that there are plans for 7 phases of the project.
I received an email from a reliable source that indicated 13,600 employees with peripheral or ancillary services of 40,000 people to the Spring, Woodlands, Tomball, Conroe and Champions areas. We are always interested in our viewers comments and information.

Loretta James
0 votes Thank Flag Link Fri Jul 13, 2012
50% of the calls we are receiving are from those relocating from other states. If your home is in good condition, now is the time to sell. Most folks don't know that it is not easy for a buyer to buy a foreclosure or a short sale even though the prices are great. They will most likely be out bid with multiple offers on a foreclosure and the short sales could take 6-9 months. That being the case, a buyer would prefer to buy a owner occupied resale home with confidence that the home was well cared for.

Call for all your real estate questions.

Loretta James
0 votes Thank Flag Link Mon Apr 9, 2012
It is hard to say when the influence of Exxon moving into the market will happen. They are at least a year or two away from opening up any of the new campus. If you don't need to sell, I would hold off. If you need to move, then putting the house up for lease to cover your payments may be an option to look at.

Mitch LeJeune, ABR, GRI
Broker Associate
Direct: 281-352-5668
E-mail: Mitch@HomesByMitch.com
0 votes Thank Flag Link Tue Aug 9, 2011
I think you can never trust the numbers the big corporations tell you.
They hire and layoff at the same time.
They say the investment in this facility or that project is X.
We're made to believe it is X today when it may never be X or it will be X over 10years and includes tax cuts, givebacks, and whatever else they can through at it.
Plus there are so many other moving factors in the market.
I don't think you should wait on an Exxon factor.....interest rates may go up and that could mean less buyers...or same amount of buyers but at a lower price point. Just a small shift in interest rates can mean a huge hike in monthly payment and that also hurts you on the flip side.
Renting in hopes that prices go up is probably not a good strategy either. You'll likely have costs on the flip when the renter leaves and you need to put the home in show ready condition.
Probably not what you want to hear, but probably a good idea to do your best now....hope you give the next seller a bigger haircut and hope you do better with the next one..if you are cutting it thin on this one. That's just the reality often of today's market.
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Tue Aug 9, 2011
Bruce Lynn, Real Estate Pro in Coppell, TX
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