Wednesday, March 14, 2018

How to Price Your Home Like the Savviest Sellers



By: Jamie Wiebe - www.houselogic. com

4 things canny home sellers do when pricing their homes.

Home pricing is more of a science than an art, but many homeowners price with their heartstrings instead of cold, hard data. 
Smart sellers know that crunching the numbers is always the better route to an accurate home price. Here’s how they do it.


#1 They Avoid Overpricing
Homeowners often think that it’s OK to overprice at first, because — who knows? — maybe you’ll just get what you’re asking for. Although you can certainly lower an inflated price later, you’ll sacrifice a lot in the process.
Just ask Candace Talmadge. She originally listed her Lancaster, Texas, home for $129,000, but “eventually had to accept the market reality” and chop $4,000 off the price.
The home’s location proved challenging: Buyers were either turned off by the area — a lower-income neighborhood south of Dallas — or unable to afford the home. 
“Sellers have to keep in mind the location,” says Talmadge. “Who are going to be the likely buyers?”
The most obvious pitfall: A house that remains on the market for months can prevent you from moving into your dream home. Already purchased that next home? You might saddle yourself with two mortgages.
“You lose a lot of time and money if you don’t price it right,” says Norma Newgent, an agent with Area Pro Realty in Tampa, Fla.
And worse: Continually lowering the price could turn off potential buyers who might start wondering just what is wrong with your home.
“Buyers are smart and educated,” says Lisa Hjorten of Marketplace Sotheby’s International Realty in Redmond, Wash. “You’re probably going to lose them.”


#2 They Don't Expect Dollar-for-Dollar Returns
It’s easy for homeowners to stumble into two common traps:
  1. Conflating actual value with sentimental value — how much they assume their home’s worth because they lived there and loved the time they spent there.
  2. Assuming renovations should result in a dollar-for-dollar increase in the selling price — or more.
“Many homeowners think, ‘Of course my home is worth a bazillion dollars,’” says Newgent. If they put in a few thousand dollars worth of new flooring, for example, they might overestimate the upgrade’s impact on the home’s value into the tens of thousands.
Talmadge’s Texas home came with a built-in renovation trap: It was already the nicest home in the area, making it harder to sell. Major additions had inflated the square footage — and the price, according to one appraiser — without accounting for the surrounding neighborhood. That created a disconnect for buyers: Wealthier ones who might be interested in the upgraded home disliked the neighborhood, and less affluent buyers couldn’t afford the asking price.
“Don’t buy the nicest home on the block” is common real estate advice for this reason.
That’s not to say that renovations aren’t worth it. You want to enjoy your home while you’re in it, right? Smart renovations make your home more comfortable and functional but should typically reflect the neighborhood. A REALTOR® can help you understand what certain upgrades can recoup when you sell and which appeal to buyers.
Another culprit for many a mispriced home is online tools, like Zillow’s “Zestimate,” that prescribe an estimated market value based on local data.
The estimate is often wildly inaccurate. A Virginia-area real estate company, McEnearney & Associates, has compared actual sold prices with predicted online estimates for several hundred homes in the area for the past few years and concluded the predictions failed half of the time.


#3 They Use Comparable Sales (also Known as "Comps")
The best pricing strategy? Consult a real estate agent, who will use something called comps (also known as “comparable sales”) to determine the appropriate listing price. They’re not just looking at your neighbors; they’re seeking out near-identical homes with similar floor plans, square footage, and amenities that sold in the last few months.
Once they’ve assembled a list of similar homes (and the real prices buyers paid), they can make an accurate estimate of what you can expect to receive for your home. If a three-bedroom bungalow with granite countertops and a walk-out basement down the block sold for $359,000, expecting more from your own three-bedroom bungalow with granite countertops and a walk-out basement is a pipe dream.
After crunching the data, they’ll work with you to determine a fair price that’ll entice buyers. The number might be less than you hope and expect, but listing your home correctly — not idealistically — is a sure way to avoid the aches and pains of a long, drawn-out listing that just won’t sell.


#4 They Adjust the Price When Needed
Once your home is on the market, you’ll start accumulating another set of data that will serve as the ultimate price test: how buyers react.
Agent Hjorten says there’s an easy way to tell if you’ve priced too high: “If we have no showings, it’s way too high. Lots of showings and no offer means you’ve marketed well — but it’s overpriced once people get inside.”
Talmadge didn’t struggle with showings. She says a number of people were interested in the home, but not enough at the price. In the end, Talmadge sold her home for $125,000, with a $5,000 seller’s assist, a discount on the cost of the home applied directly to closing costs.
“It all boils down to location, location, location. In [another] neighborhood, our house might well have sold for well over $130,000,” Talmadge says.
When it comes to finding a buyer, pricing your home according to data — and the right data, at that — is crucial to making the sale.

Give Jinks Realty a Call (956) 429-3232 or Visit our Website www.JinksRealty.com for all Your Real Estate Needs.





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Tuesday, March 13, 2018

Lets Shop For A Home! www.JinksRealty.com


Lets Shop For A Home! www.JinksRealty.com

#HomeForSaleMcallen #JinksRealty #McallenHomes #RgvHomes #RealEstate #RioGrandeValley #Edinburg #JinksRealtyTeam #EdinburgRealEstate #Mcallen #Mission #home #RGV

Friday, March 9, 2018

5 Home Improvement Projects That Give You the Best Return on Investment in 2018




Here are five great ways to add value to your home, and five more that generally don’t pay off as well.

By: Matthew Frankel – The Motley Fool

Are you considering doing some home improvements this year? Doing a home remodel has a double benefit -- you not only get to enjoy a new kitchen, patio, or other improvement, but you can also add value to your home.
However, not all remodeling projects give you the same return on investment. The average home remodeling project added just 56.8% of its cost to the value of the home in 2017, according to Remodeling's 2018 Cost vs.Value report, which analyzed 20 common professional remodeling projects.
On the other hand, if you spend your home improvement dollars on one of these high-return projects, you could greatly improve the quality of your home while substantially increasing its value.

The top five cost-versus-value remodeling projects of 2018

Project
Cost
Resale Value Added
Cost Recouped
Garage door replacement (upscale)
$3,470
$3,411
98.3%
Manufactured stone veneer (midrange)
$8,221
$7,986
97.1%
Deck addition -- wood (midrange)
$10,950
$9,065
82.8%
Minor kitchen remodel (midrange)
$21,198
$17,193
81.1%
Siding replacement (midrange)
$15,072
$11,554
76.7%


Don't expect a huge return from these five projects

On the other end of the spectrum, some projects generally don't add nearly as much value to your home:
Project
Cost
Resale Value Added
Cost Recouped
Backyard patio (midrange)
$54,130
$25,769
47.6%
Master suite addition (upscale)
$256,229
$123,797
48.3%
Major kitchen remodel (upscale)
$125,721
$67,212
53.5%
Bathroom addition (upscale)
$83,869
$45,752
54.6%
Bathroom remodel (upscale)
$61,662
$34,633
56.2%

General trends to notice

There are two general trends to notice in these charts.
First, exterior projects that create "curb appeal" generally produce higher returns than interior projects. Of the highest-return projects, four of the five are exterior modifications. And of the lowest-return projects, all five are either interior projects, or projects hidden away from view, such as the backyard patio. This certainly makes sense -- curb appeal doesn't just add value to your home, but it can help it sell more quickly, too.
Second, if you want to add value, don't go too over the top. Midrange projects tend to add more value, in percentage terms, than upscale ones. All four interior projects on the low-return list are of the upscale variety, and notice the huge gap in returns between a minor mid-range kitchen remodel and a major upscale kitchen remodel.

Every project and location is different

As a final thought, keep in mind that these figures are just based on national averages, and that your particular project could have significantly different results. For example, a minor kitchen remodel is not likely to add much value if the existing kitchen is just fine. On the other hand, if the existing kitchen is falling apart, your return could be even more than the 76.7% indicated on the chart.
Geography can play a role as well. In warmer climates, outdoor spaces such as backyard patios and even swimming pools can add far more value than they do in markets where they're useful only a few months out of the year.
Also, in "hotter" real estate markets, remodeling projects tend to deliver more value. For example, of the 149 U.S. markets the report tracked, an upscale garage door replacement returned more than 100% of its value in 46 of them. In fact, of the 20 projects examined in the report, 18 of them delivered more value than their cost in at least one U.S. market. (Note that Remodeling's report contains an infographic that breaks down the data geographically.)
The bottom line is that while these trends can certainly be useful when planning your next remodeling project, be sure to consider the specifics of your own situation as well.

Give Jinks Realty a Call (956) 429-3232 or Visit our Website www.JinksRealty.com for all Your Real Estate Needs.

 
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Wednesday, March 7, 2018

🔥 Hot 🔥 New Listing - Home For Sale 1506 E 29th Street Mission TX 78574











🔥🏠 🔥 HOT NEW LISTING 🔥🏠 🔥

 Home For Sale 1506 E 29th Street Mission TX 78574


4
2
0
2005
2595
1 
Mission
Heritage Park
Hidalgo
Mission ISD
Mims
Mission Junior High
Veterans Memorial H.S.

Hot New Listing - Home For Sale 1506 E 29th Street Mission TX 78574 - $229,000
WILL NOT LAST! Magnificent, move-in-ready large home featuring 4 spacious bedroom and a gorgeous must-see kitchen! This home is very reasonably priced and ready for its new family! Call (956) 429-3232 for a viewing appointment.



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Monday, March 5, 2018

Land For Sale 7122 E Rodgers Road Edinburg, TX 78542



Land For Sale 7122 E Rodgers Road Edinburg, TX 78542


Residential Single Family
Residential
Level
70567
1.62
Edinburg
Tex-Mex Survey
Hidalgo
Edinburg ISD
Eisenhower
Memorial
Economedes H.S.
 

Land For Sale 7122 E Rodgers Road Edinburg, TX 78542 - Come build your dream home in the country but minutes from town!! 

List Price: $75,000

More Information: www.JinksRealty.com

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