Santa brought a great gift to the Hohlt household this year. Our daughter and her family who live in Dallas have decided to move back to Montgomery County. We’re looking forward to spending much more time with her, her husband and our three granddaughters.
Their first order of business will be to sell their home in Dallas. Over the Thanksgiving holidays, they asked for some advice on how to choose a Realtor to list their home. I had to commend them for asking, as choosing a Realtor will be the most important decision they’ll make in selling their home. Choosing the right agent will not only maximize the price they’ll get for their home, it will minimize their stress level. But with so many agents in Dallas to choose from, a little due diligence will be necessary on their part. So with 2 goals in mind, i.e. maximum price and minimum stress, here are a few of things I asked them to look out for in an agent.
To maximize the price you get for your home:
1. A Realtor should be an expert on pricing a home. That requires not only the assessment of comparable sales, but also evaluation of pricing trends as indicated by local market conditions. A home should be priced right from the onset. If priced too high, a home will languish on the market. If priced too low the home may sell quickly but the owner may also leave money on the table.
2. A Realtor should be able to put together a listing product that gives justice to the home’s true merits. A compelling narrative and high quality photographs should make a home stand out among its competition and entice potential buyers to schedule a showing. An extensive internet strategy, staging tips, print advertising, signage, brochures, and virtual tours are a few other items that, if effectively done, help attract potential buyers.
3. A Realtor should also provide ongoing feedback on buyer interest and changes in market conditions so that timely adjustments can be made to the home presentation, marketing plan or price.
To minimize the stress while selling your home:
1. Every real estate transaction has its unique challenges. An experienced Realtor should be able to anticipate potential problems and prevent them from interfering with a successful transaction and adding to the stress load of the home seller.
2. Good communication and people skills are a must in a Realtor. A home seller should always feel comfortable calling their Realtor at any time for any reason. A Realtor also needs to effectively communicate with the many others that will be involved in the process of selling your home.
Selling a home is typically one of the largest transactions a person makes in their lifetime. It is definitely worth the time to do some homework in selecting the person to whom you will entrust to represent you in this important task. Don’t hesitate to ask several Realtors to give you an in-home listing presentation. And check out the quality of their past work, e.g. other listings, and check references. A little due diligence on the front end will pay off in more ways than just dollars.
If you're in need of a Realtor in Montgomery County, please give me a call. I'm at 936-537-1656 and at Claudia@ClaudiaHohlt.com.
Showing posts with label conroe tx realtor. Show all posts
Showing posts with label conroe tx realtor. Show all posts
Monday, December 28, 2009
Sunday, August 30, 2009
A Real Estate Listing is a Process … Not an Event
To a property seller, a successful real estate listing means selling real estate at an optimal price in a timely manner while incurring minimal stress. To meet those expectations, a realtor needs to do more than just place a sign in the yard. A successful real estate listing involves a continuous process that begins with the listing presentation and ends with a satisfied client. This process is comprised of numerous activities including the home valuation, home preparation, advertising, ongoing assessment/feedback, negotiation, and closing. And each of these activities involves multiple tasks in order for a successful sale to occur.
1. Home Valuation – This activity has little room for error as too high of a price will not be taken seriously by buyers and too low of a price results in the seller leaving money on the table. Since every home is unique and every market is in a constant state of change, pricing a home correctly takes a good deal of analysis. A quality home valuation is based on the statistical analysis of comparable homes recently sold in the same general area. This compilation provides a general price range that is then custom fitted based on unique characteristics of the home and current local market conditions. Additional adjustments may be required for other factors, such as a shorter than normal time frame required by the seller.
2. Home Preparation – Preparing a home for sale is much like preparing oneself for a job interview. A clean well-kempt appearance is usually a prerequisite to secure a face-to-face interview. Same thing with a home. Detailing, decluttering, depersonalizing, and proper staging helps buyers envision themselves living in a home rather than viewing someone else’s home. An experienced realtor has viewed hundreds, if not thousands, of homes and has a good understanding of what appeals to most buyers. Their expertise can be invaluable in helping a seller’s home make the very best impression.
3. Advertising the Home – A reasonable price and a nicely presented home may put a home on a few buyers’ list of possibilities. But getting a home toward the top of the list takes a good advertising strategy. High quality, well framed photographs will convey the home’s best characteristics in various advertising venues. Other aspects of a good advertising program include a powerful agent website that partners with a multitude of real estate websites to provide maximum exposure on the internet. Also utilization of local advertising media, e-flyers, brochures and signage are all important.
4. Making Adjustments – In spite of an agent’s best efforts, an offer sometimes can be slow in coming, especially in a down market. But by keeping up to date on local market conditions, gathering feedback from showings and compiling internet traffic reports for the property, a real estate agent can provide periodic recommendations to increase the likelihood of a timely offer.
5. Contract Negotiation – Negotiating a home can be an emotional event for both the seller and buyer. Having a Realtor facilitate the negotiation process tempers emotions and helps keep the negotiations based on factual and relevant information. Having the appropriate analytical support for the desired price position is critical during negotiations and puts the seller in a position of strength.
6. Closing – After a contract is in hand, there are many hurdles yet to face. Every transaction is unique. Again this is where the utilization of an experienced agent puts the seller in the best position as they simply have more experience from which to draw. It is not unusual to have inspection issues, lender demands, repair requests, and title problems, to name just a few. There can be a multitude of obstacles, any one of which can cause the contract to fall out. But with an experienced agent at the helm, the seller can rest easy as most issues can be resolved with minimal stress on the seller.
As you can see, a listing is more than just a one time event. It is a continuous process with the Realtor and seller working as a team every step of the way until a successful transaction is finalized. If you are thinking about selling your home, I would welcome an opportunity to present to you the HomesPlus difference. I can be reached at 936-537-1656 or you can email me at chohlt@claudiahohlt.com.
1. Home Valuation – This activity has little room for error as too high of a price will not be taken seriously by buyers and too low of a price results in the seller leaving money on the table. Since every home is unique and every market is in a constant state of change, pricing a home correctly takes a good deal of analysis. A quality home valuation is based on the statistical analysis of comparable homes recently sold in the same general area. This compilation provides a general price range that is then custom fitted based on unique characteristics of the home and current local market conditions. Additional adjustments may be required for other factors, such as a shorter than normal time frame required by the seller.
2. Home Preparation – Preparing a home for sale is much like preparing oneself for a job interview. A clean well-kempt appearance is usually a prerequisite to secure a face-to-face interview. Same thing with a home. Detailing, decluttering, depersonalizing, and proper staging helps buyers envision themselves living in a home rather than viewing someone else’s home. An experienced realtor has viewed hundreds, if not thousands, of homes and has a good understanding of what appeals to most buyers. Their expertise can be invaluable in helping a seller’s home make the very best impression.
3. Advertising the Home – A reasonable price and a nicely presented home may put a home on a few buyers’ list of possibilities. But getting a home toward the top of the list takes a good advertising strategy. High quality, well framed photographs will convey the home’s best characteristics in various advertising venues. Other aspects of a good advertising program include a powerful agent website that partners with a multitude of real estate websites to provide maximum exposure on the internet. Also utilization of local advertising media, e-flyers, brochures and signage are all important.
4. Making Adjustments – In spite of an agent’s best efforts, an offer sometimes can be slow in coming, especially in a down market. But by keeping up to date on local market conditions, gathering feedback from showings and compiling internet traffic reports for the property, a real estate agent can provide periodic recommendations to increase the likelihood of a timely offer.
5. Contract Negotiation – Negotiating a home can be an emotional event for both the seller and buyer. Having a Realtor facilitate the negotiation process tempers emotions and helps keep the negotiations based on factual and relevant information. Having the appropriate analytical support for the desired price position is critical during negotiations and puts the seller in a position of strength.
6. Closing – After a contract is in hand, there are many hurdles yet to face. Every transaction is unique. Again this is where the utilization of an experienced agent puts the seller in the best position as they simply have more experience from which to draw. It is not unusual to have inspection issues, lender demands, repair requests, and title problems, to name just a few. There can be a multitude of obstacles, any one of which can cause the contract to fall out. But with an experienced agent at the helm, the seller can rest easy as most issues can be resolved with minimal stress on the seller.
As you can see, a listing is more than just a one time event. It is a continuous process with the Realtor and seller working as a team every step of the way until a successful transaction is finalized. If you are thinking about selling your home, I would welcome an opportunity to present to you the HomesPlus difference. I can be reached at 936-537-1656 or you can email me at chohlt@claudiahohlt.com.
Sunday, August 2, 2009
Home Buyer’s Safety Net – The Option Period
Buying real estate can be a daunting experience, especially for a first time buyer. There are so many things to take into consideration. Fortunately, in the standard Texas residential real estate sales contract, there is a “buyer-friendly” clause allowing for the buyer to purchase an option period. Utilization of this provision provides a safety net as it allows the buyer to back out of the contract for a specified number of days for any reason. The specific terms are subject to negotiation between the buyer and seller, but are typically about 7 days and cost the buyer an average of $100. But terms can vary depending upon the circumstances. The fee is non-refundable to the buyer, but can be applied to the sales price if the transaction is completed.
The buyer should always take advantage of this feature. It allows the buyer an opportunity to “kick the tires”. During this time, the buyer will want to hire a professional home inspector to look over the home and report any deficiencies. The buyer may want to hire a termite inspector as well. If there are any major issues, the buyer may elect to have a structural engineer weigh in. The buyer can also use this time to do their own research on the other items of interest such as neighborhood safety or quality of schools.
Before the option period expires, the buyer should carefully evaluate all the information gathered. There are three possible courses of action:
1. If nothing significant turned up, the buyer can let the option expire and proceed forward with the contract.
2. The buyer may back out of the contract. There is no need to justify this action to the seller. The buyer can back out for any reason. Even if there is only a change of heart. The buyer’s agent simply forwards a signed Notice of Termination and Release of Earnest Money Request to the seller’s agent, prior to the option period expiration date. While the escrow funds are returned to the buyer, the option money is forfeited to the seller.
3. The buyer could request a repair done based on the findings. For example, if the inspection discovered that the home had an A/C issue, the buyer could ask the seller to either make repairs, or reduce the price accordingly to allow the buyer to make the repairs after closing. If an agreement on the A/C repair is reached, the transaction can proceed forward. If not, the buyer would either walk away or accept the property in an as-is condition.
Occasionally, there are instances where a buyer waives the right to the option period. This is rare but most likely to occur when the buyer has extensive experience in home construction or when there are competing offers on the table. Even then, the buyer still is encouraged to have inspections performed prior to closing. But if something turns up that the buyer can’t live with, the buyer cannot walk away unscathed. The seller now can exercise remedies in the contract, such as specific performance, or retention of escrow funds. It is always much less painful to purchase an option period to allow you to walk away in case something turns up.
A seasoned real estate agent will always encourage their buyers to take advantage of the option period. Since many issues with a home are not easily detectible by the untrained eye, it is always prudent to bring in professionals to help with the needed due diligence. The proper utilization of this period could prevent the buyer from experiencing the dreaded “buyer’s remorse”.
Claudia Hohlt has been a local Realtor in Montgomery County since 2000. Claudia has earned the GRI designation, and was certified by HAR as a Top Production Realtor® in 2007 and 2008. Her office is between Conroe and Montgomery at 13080 Hwy 105W #130. Claudia Hohlt can be reached at 936-537-1656 or emailed at Claudia@ClaudiaHohlt.com. Her blog can be found at ClaudiaHohlt.com.
The buyer should always take advantage of this feature. It allows the buyer an opportunity to “kick the tires”. During this time, the buyer will want to hire a professional home inspector to look over the home and report any deficiencies. The buyer may want to hire a termite inspector as well. If there are any major issues, the buyer may elect to have a structural engineer weigh in. The buyer can also use this time to do their own research on the other items of interest such as neighborhood safety or quality of schools.
Before the option period expires, the buyer should carefully evaluate all the information gathered. There are three possible courses of action:
1. If nothing significant turned up, the buyer can let the option expire and proceed forward with the contract.
2. The buyer may back out of the contract. There is no need to justify this action to the seller. The buyer can back out for any reason. Even if there is only a change of heart. The buyer’s agent simply forwards a signed Notice of Termination and Release of Earnest Money Request to the seller’s agent, prior to the option period expiration date. While the escrow funds are returned to the buyer, the option money is forfeited to the seller.
3. The buyer could request a repair done based on the findings. For example, if the inspection discovered that the home had an A/C issue, the buyer could ask the seller to either make repairs, or reduce the price accordingly to allow the buyer to make the repairs after closing. If an agreement on the A/C repair is reached, the transaction can proceed forward. If not, the buyer would either walk away or accept the property in an as-is condition.
Occasionally, there are instances where a buyer waives the right to the option period. This is rare but most likely to occur when the buyer has extensive experience in home construction or when there are competing offers on the table. Even then, the buyer still is encouraged to have inspections performed prior to closing. But if something turns up that the buyer can’t live with, the buyer cannot walk away unscathed. The seller now can exercise remedies in the contract, such as specific performance, or retention of escrow funds. It is always much less painful to purchase an option period to allow you to walk away in case something turns up.
A seasoned real estate agent will always encourage their buyers to take advantage of the option period. Since many issues with a home are not easily detectible by the untrained eye, it is always prudent to bring in professionals to help with the needed due diligence. The proper utilization of this period could prevent the buyer from experiencing the dreaded “buyer’s remorse”.
Claudia Hohlt has been a local Realtor in Montgomery County since 2000. Claudia has earned the GRI designation, and was certified by HAR as a Top Production Realtor® in 2007 and 2008. Her office is between Conroe and Montgomery at 13080 Hwy 105W #130. Claudia Hohlt can be reached at 936-537-1656 or emailed at Claudia@ClaudiaHohlt.com. Her blog can be found at ClaudiaHohlt.com.
Sunday, July 12, 2009
Finding the Right Neighborhood
When I first moved to Montgomery County in 1975, Lake Conroe was only a few years old and Hwy 105 between Conroe and Montgomery was just a winding two lane road through the woods. Neighborhood choices for home buyers moving to the area were somewhat limited back then. With the population explosion since that time, home buyers now have a multitude of neighborhoods from which to choose. But with choices come decisions. Montgomery County is fortunate to have many cities, subdivisions, and rural areas with much to offer. And each neighborhood has its own unique attributes. In this article, I will lay out some neighborhood characteristics that should be kept in mind when searching for a new home.
1. School District – This is the most common concern buyers have when searching for a home. Not only for their children’s benefit, but for purposes of resale. The Texas Education Agency assigns each school district and individual school a rating based on certain criteria including TAKS testing and dropout rate. Although the TEA rating is a major factor for many buyers, there are significant others who believe that a child’s home environment, parental support and other resources can compensate for a school’s less than Exemplary rating. A school’s rating can fluctuate over time also, so it is difficult to predict a school’s rating at some future point in time, such as when a child enters a particular grade or when you plan to sell your home.
2. Convenience – Proximity to employment centers, schools, places of worship, shopping, restaurants, and entertainment are important to many buyers. For someone used to living in Conroe, living in one of the more remote areas of the county can require some adjustments. And vice versa. Buyers should carefully weigh the pros and cons before making any drastic changes to what they have become accustomed.
3. Deed Restrictions – To attract buyers to a new development, developers typically have deed restrictions put in place that limits the use of real property. Deed restrictions are generally welcomed by homebuyers as they are designed to improve the quality of life of homeowners, increase harmony within a community and maintain property values. But enforcement of deed restrictions is the hands of a homeowners’ association so the level of enforcement can range from very strict to very lax. If enforcement of deed restrictions is an important concern, it is in the buyer’s best interest to do some personal investigation to assess the enforcement level before deciding on a neighborhood.
4. Unrestricted Property - Some buyer’s prefer living on property unencumbered by deed restrictions. This can be a good choice for individuals as long as they realize that their neighbors’ properties are also unrestricted. One’s property value can be significantly impacted by a change in use of surrounding properties.
5. Gated Subdivisions – There have been an increased number of gated developments in recent years. Gates provide residents a feeling of security and exclusivity. The downside of gates is the lack of county services. While emergency services still are provided, sheriff patrols and road maintenance are not. Even though these neighborhoods pay county taxes on the same basis as ungated communities, those services have to be paid with homeowners’ association dues.
6. Taxes– One of the major costs associated with home ownership is real estate taxes. Taxes can vary significantly, depending on the neighborhood. Each property has an appraised value assigned by the county appraisal district. Each governmental entity providing services to that property applies a tax rate against the property’s appraised value to generate funds for their operations. Therefore, the tax rate can vary significantly between neighborhoods, depending on which and how many taxing entities that they lie in. While tax rates can differ substantially, the disparity is often made up elsewhere. For example, the tax on a home in a one particular gated acreage community is $2.01 and the rate on a property in Conroe is $2.36, or a difference of $350 per $100,000 of valuation. But in the acreage community, property owners have to pay HOA dues of $545 annually and purchase and maintain a septic system as sewer service is not provided.
These are a few of the differences in the types of neighborhoods. When buying a home, a buyer should pay careful attention to the type of neighborhood, so it doesn’t detract from the overall home owning experience.
To get a good understanding of the neighborhoods in Montgomery County, the best place to start is with a local, full-time Realtor. They understand the unique characteristics of our many neighborhood choices and can help you weigh the pros and cons of each.
Claudia Hohlt has been a local Realtor in Montgomery County since 2000. Claudia has earned the GRI designation, and was certified by HAR as a Top Production Realtor® in 2007 and 2008. Her office is between Conroe and Montgomery at 13080 Hwy 105W #130. Claudia Hohlt can be reached at 936-537-1656 or emailed at Claudia@ClaudiaHohlt.com. Her blog can be found at ClaudiaHohlt.com.
1. School District – This is the most common concern buyers have when searching for a home. Not only for their children’s benefit, but for purposes of resale. The Texas Education Agency assigns each school district and individual school a rating based on certain criteria including TAKS testing and dropout rate. Although the TEA rating is a major factor for many buyers, there are significant others who believe that a child’s home environment, parental support and other resources can compensate for a school’s less than Exemplary rating. A school’s rating can fluctuate over time also, so it is difficult to predict a school’s rating at some future point in time, such as when a child enters a particular grade or when you plan to sell your home.
2. Convenience – Proximity to employment centers, schools, places of worship, shopping, restaurants, and entertainment are important to many buyers. For someone used to living in Conroe, living in one of the more remote areas of the county can require some adjustments. And vice versa. Buyers should carefully weigh the pros and cons before making any drastic changes to what they have become accustomed.
3. Deed Restrictions – To attract buyers to a new development, developers typically have deed restrictions put in place that limits the use of real property. Deed restrictions are generally welcomed by homebuyers as they are designed to improve the quality of life of homeowners, increase harmony within a community and maintain property values. But enforcement of deed restrictions is the hands of a homeowners’ association so the level of enforcement can range from very strict to very lax. If enforcement of deed restrictions is an important concern, it is in the buyer’s best interest to do some personal investigation to assess the enforcement level before deciding on a neighborhood.
4. Unrestricted Property - Some buyer’s prefer living on property unencumbered by deed restrictions. This can be a good choice for individuals as long as they realize that their neighbors’ properties are also unrestricted. One’s property value can be significantly impacted by a change in use of surrounding properties.
5. Gated Subdivisions – There have been an increased number of gated developments in recent years. Gates provide residents a feeling of security and exclusivity. The downside of gates is the lack of county services. While emergency services still are provided, sheriff patrols and road maintenance are not. Even though these neighborhoods pay county taxes on the same basis as ungated communities, those services have to be paid with homeowners’ association dues.
6. Taxes– One of the major costs associated with home ownership is real estate taxes. Taxes can vary significantly, depending on the neighborhood. Each property has an appraised value assigned by the county appraisal district. Each governmental entity providing services to that property applies a tax rate against the property’s appraised value to generate funds for their operations. Therefore, the tax rate can vary significantly between neighborhoods, depending on which and how many taxing entities that they lie in. While tax rates can differ substantially, the disparity is often made up elsewhere. For example, the tax on a home in a one particular gated acreage community is $2.01 and the rate on a property in Conroe is $2.36, or a difference of $350 per $100,000 of valuation. But in the acreage community, property owners have to pay HOA dues of $545 annually and purchase and maintain a septic system as sewer service is not provided.
These are a few of the differences in the types of neighborhoods. When buying a home, a buyer should pay careful attention to the type of neighborhood, so it doesn’t detract from the overall home owning experience.
To get a good understanding of the neighborhoods in Montgomery County, the best place to start is with a local, full-time Realtor. They understand the unique characteristics of our many neighborhood choices and can help you weigh the pros and cons of each.
Claudia Hohlt has been a local Realtor in Montgomery County since 2000. Claudia has earned the GRI designation, and was certified by HAR as a Top Production Realtor® in 2007 and 2008. Her office is between Conroe and Montgomery at 13080 Hwy 105W #130. Claudia Hohlt can be reached at 936-537-1656 or emailed at Claudia@ClaudiaHohlt.com. Her blog can be found at ClaudiaHohlt.com.
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