Home Selling in Spring>Question Details

art_z37, Home Owner in Spring, TX

the right time to sell?

Asked by art_z37, Spring, TX Tue Dec 11, 2012

I own a house in forest ridge, but recently moved to Odessa, Tx for my husband's job and I was wondering when the best time to sell for this area will be. Currently my house is being rented to family, which is working well enough right now, but I know the exxon place will be opening in the next couple of years and I have heard that the market should go up because of that. I just wondering how much is the market predicted to go up for this area and if its worth it to continue to rent the house out until it happens or should I sell now?

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Answers

7
Prices on homes for sale were increased 16.1% year over year in most metropolitan areas in US and Rentals property demand remains very solid with rents rising 5.6% nationally.
Definitely prices will be up next year and you can sell your house at a point when it is profitable to do so. Also, remember you have some tax benefits from your rental property. So, it is no rush.

All the best,

Maria Cipollone

Century 21 Tenace

http://www.Flahomespecialist.com
1 vote Thank Flag Link Tue Dec 11, 2012
Below is a portion of my newsletter with the latest statistics just released.
There cannot be a better real estate market than the one we have in Houston!
November single-family home sales increased by 27% over last year and home sales for the year are up by 17%

It’s a sellers’ market and now that listings are low; sales are high and median sales price is up 6% - now is a great time to sell a home and more than likely, get more for it than last year!

1. Are we headed for a housing shortage? Read more about it at http://www.garygreene.com/blog
2. Was your area one of the hottest in Houston last month? Grab your copy of the Houston Hotness Index at http://media.garygreene.com/index.php?s=30244&item=32854
3. How does your area compare with the Houston overall market? Check it out at http://media.garygreene.com/index.php?s=30244&cat=2938

Please contact me for more information about your options.
Cyndi Berg
cyndi@MyHTownLifestyles.com
0 votes Thank Flag Link Tue Dec 11, 2012
I would suggest to you that if you have a good and solid renter, wait until their lease is up, if they want to extend or renew the lease, if you haven't had any issues as far as rent being paid on time and no major repairs while their tenancy, I would keep rental the same amount, if not I would increase it. If the renter does not want to renew lease, I would put it in the market for sael and for lease at the same time and see what happens first. I usually put my Client's vacant homes for sale and lease (if they want to) and go with what first comes along. Market conditions vary within the same area, so I would get a good Market Analysis and then decide if this is the right time or to wait...

Thank you,

Nazario Trujillo
CDPE, REO/BPO Certiifed
TAHS, SFR, R. E. Consultant/Realtor
SIS Group, LLC
Cell: 832-892-8730
Fax: 281-907-0199
E-mail: naztrujillo@sbcglobal.net
0 votes Thank Flag Link Tue Dec 11, 2012
The best advice you can get on market conditions is from a Realtor who is local to the area. The Houston market is much different than other parts of the country. I recently put two homes on the market in the Spring area, and one of them was under contract within a few weeks, but every home is different. Contact a local realtor for information on comparable sales in the area. Good luck! V
0 votes Thank Flag Link Tue Dec 11, 2012
Hello Art,

It is true that Exxon Mobile new headquarters is been build right now. They expect to move workers at the new facility by 2014. The house prices have begun to rise. But the market will be better in 2013, and 2014. Rent market is iqual good, so I recomend you to wait at least one year before considered sell your house in this market.
0 votes Thank Flag Link Tue Dec 11, 2012
That was a great answer from Edith, real estate is very local even down to a particular small area withing Houston. The news all throughout Houston has been that inventory is currently down and many times you are seeing multiple bids on houses. What this means for you? This means that I think that now is a good time to list and sale a home, contrare to what times in the past have been. History has shown that you should wait to list until Spring time when more families are more likely to move to keep disruptions down to kids in schools. This year is a different scenario, inventory is down so it would be a good time to list now. List now and sell now, don't wait for the rest of the competition to list their homes, be the first to market. I am a local realtor that leaves and works near the Exxon/Mobil Expansion. Please feel free to call me at 832-638-9166 for additional questions or for me to do a free Comparative Market Analysis for you on your home.
0 votes Thank Flag Link Tue Dec 11, 2012
Since I am not a Realtor from your area, this is a hard question to answer. A local experienced Realtor though will be able to give you some insight, although as you know none of us has a crystal ball to predict the future. I think you need to look at how solid your current renter is, if they would rent for another year.... By the way a good advice I often give my clients in a similar situation as you, as your current lease nears the end put the home on the market, if and when your current renters do not want to extend the lease another year, and put it on the market for both sale as well as rental and see
what the responses are going to be.

Just a suggestion, but a local Realtor may have a better insight in your market, or after having seen
your home, its upgrades, floor plan and size and exact location, can give you better advice. Also you
should look at how much equity you do have in the home that is currently rented, does the rent cover your expenses, and then look at the market evaluation and recently sold homes to determine
if continue to rent or sell now or in the Spring is a better choice for you.

I hope this helps...

Most Sincerely yours,
Edith
YourRealtor4Life and your Chicago
and Northern Illinois and RElocation Expert
Working always in the very BEST interest of her clients
@Properties North Shore
Edith speaks French, German, Spanish & more
Get to know Edith and her Service her website is
http://tinyurl.com/YourRealtor4Life
EdithDoesItRight@yahoo.com
0 votes Thank Flag Link Tue Dec 11, 2012
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