Austin is quickly becoming a city where people are selling their homes left and right. This fast-paced real estate market can be quite daunting to navigate without the help of the right people. That’s why we chose the brain of Chase Cangelosi to Chasing Realty Group @ All City Real Estate and asked him what to know about selling a house in Austin these days.
When is the best time to sell?
How to calculate the value of your house?
How can you prepare your house if it’s full of baby toys and children’s clutter?
If you find yourself in the position of wanting to sell your home but aren’t sure where to start, this FAQ below can point you in the right direction.
Tips for selling your home:
— What should I do at home before I can put it on the market?
The process begins with meeting with me to view the home, giving you a market overview and analysis of your home’s value, then I will analyze if we need to do any repairs, cleaning, touch-ups, etc. before taking pictures. If you’re ready to move on, I’ll make suggestions for furniture storage and movement (if occupying the house) or staging (if vacant), pay my photographer to take professional photos , and we will be ready to put it on the market.
I had several opportunities to list houses for sellers who lived in other states (or countries) and the house was vacant and needed some touch ups. I agree to pay for the staging, landscaping, painting, pressure washing and cleaning of my listings. One of my recent announcements, I landscaped the front and back yards myself (Check it here)!
— Since this is a very sellers’ market, how can I also buy my next home during this time?
It’s a great opportunity to work with one of my partners. I am a certified agent with Return, UpEquity, and Flyhomes and can use their “buy before you sell” programs to help you buy your next home before selling your first. They qualify your home and let you use their money to make a cash offer, and then after you close (and move) your new home, we list your previous home. You are the tenant of the new house until the closing of the previous one and you buy it back from her at the same price she paid.
People often tell me that they want to take advantage of the seller’s market but are afraid of having to buy for themselves. Here is the solution!
— Since the market is changing rapidly, how do I know what my house is worth? Is a Zestimate accurate?
You will need a local agent to give you this answer. A local agent can check the comparables sold in your neighborhood and give you the average price/square foot as well as the average price paid on the list to give you a good idea of the market value of your home.
People love to tell me “Zillow says…”
Sorry to inform you, they are wrong, and just lost half a billion dollars by overpaying for houses using their own calculator.
— When is the best time to sell a house?
The best time is when it’s good for your life. That said, spring (April/May/June) is when you’ll get the best price for your home. This is when you have the most buyers in the market, families with children between school years play an important role in this. We are also seeing many people moving for new jobs at the start of the summer (companies hiring for Q2). That’s when the flowers bloom and your home will be at its most beautiful too.
— Should I have an inspection done before listing my home?
Big question! Let me be the decision maker here. I want to see your house in person first. If it was built after 2000 and has been kept in good condition, there’s probably no need. If your home is in poorer condition or was last sold over 20 years ago, it wouldn’t be a bad idea to have an inspector pre-inspect it, tell you what repairs are needed, and have it done. the obvious repairs before leaving. market.
— How do I stage and prepare my house for the screenings?
I’ll let you know what’s needed in regards to setting up the projections for you personally, but to explain the basics:
- Remove/lock up valuables and pharmaceuticals
- Remove your dog and signs that you have a dog (bowl, kennel, etc.)
- Clear your counters
- make your beds
- Make sure your laundry is in your cupboards/drawers
Do you remember when you were a kid and your mom told you to clean your room? That’s a great way to sum it up!
— What should we do with all the toys, baby items, kids’ clutter when we’re preparing to put a house on the market?
Pick up and put away. People may connect by seeing baby/kids items in kids’ rooms, and kids’ decorations may relate to shoppers, but we never want to leave a mess. Maybe get a big box/chest to store things while people view the house?
— Any tips for coping with a busy family life while buyers stop by for viewings?
Hopefully we can be under contract by the end of the first weekend. Even if we are, buyers still have the inspection, appraisal, and may want to review the home. Having a family takes a toll on your schedule, so I suggest we have limited hours when buyers can schedule to view the house and require appointments, at times when it’s most convenient (when the kids are home). school or at times that do not interfere with baby’s nap). We will preferably want the owners removed from the house during the time of visits, which also includes the exit of pets.
— What are the costs associated with listing and selling my home?
These can vary, but what most people can prepare for are: real estate commissions, repairs and title costs.
Sellers can expect 6% of their sale price to be paid to the real estate brokers in the transaction (half to the seller’s broker, half to the buyer), plus I tell my sellers to mentally put aside $2000 for repairs/credits given to the buyer at closing (for his inspection findings), then a few hundred dollars for title registration fees. All of this comes from the seller’s product at closing.
— How long does it usually take to sell in this market?
There are exceptions, but if you’re selling a home under $1 million, about 4 days on the market. Then about 30 days to close.
The usual process is to list the house on Thursday evening, then have frantic viewings on Friday and Saturday, I have an open house on Sunday, then we look at offers on Monday.
In a previous question, we discussed preparing the house for screenings – if I know your house will be flooded with screenings, I’m going to suggest you take a quick weekend getaway. If you would like to spend Friday-Sunday at a glamorous downtown hotel, or in San Antonio, Fredericksburg, etc., I’d be happy to contribute and pay for your hotel stay!
— In this market, should I expect offers below or above the asking price?
Above. Unless you’re listing a home over $2 million, buyers are scrambling to get their hands on a home, and you’ll most likely get multiple offers above the list price. We price the home at fair market value and let buyers come in and bid. Rather than setting it above market value and waiting for a drop in price before getting buyers interested in seeing it.
— Can I sell my house if I still have a mortgage on it?
Sure! Most people do. Your mortgage is paid off at closing and you keep the proceeds of the principle years you paid into it, as well as your appreciation profit.
— How do I find the right agent to help with the sale?
I find it crazy that most salespeople only interview one agent! I suggest looking around for other “for sale” signs and seeing which agents are most active in your area, and asking your friends who they’ve used, then of course, call me!
When you build trust with your agent, you want to know that they are very knowledgeable about the selling process, can show you their sales history, can explain the market value of your home, he has a solid marketing strategy and he’s someone you get along with. You’ll be talking to this agent very often for at least a month, so liking them as a person helps!
A little catch for me: you can always reach me nights and weekends, I don’t miss a call from a buyer inquiry or leave a text unanswered for more than a minute, I have a background in marketing and a good idea of what buyers are looking for in a home (and what inspectors will find later), and always pay for the photos, staging and touch-ups for you.
— Should I try to sell my house myself first to save real estate costs?
It’s a free country, and you have the right to do so. The issues you will face are contract and process management, and you will limit your market exposure and your chances of getting a higher bid. FSBOs sell for less on average, and keep in mind that real estate fees come from the sale proceeds, nothing is paid upfront.
Speaking from experience, I sold one of my investment properties using another agent. I wanted to get rid of my emotions and allow another agent to negotiate on my behalf.
Personally, I can bargain hard for my clients, but I have low selling resistance for myself!
— If I want to sell and take advantage of low housing stock, how do I start?
Excited to hear it! The easiest way to contact me would be to fill out the form on my website HERE under “Get started”. From there I will send you a market analysis of your property and we can schedule an appointment.
Do you have more questions?
Contact Chasing Realty @ All City Real Estate!