What are my options

Question

I own a home in the NE Pinewood area of Texas. in a rural area.  The house is ideally located for anyone wanting a country setting  just 13 from a larger town with a population of approx 61,000 people.  It is an ideal place for someone that wants to be just far enough from the city.  My question is how do I determine the best price to ask and how do I find a qualified buyer?

Jon Holdman · Answer

Where do you mean by "Pinewood"?  North side of Houston?

Is this typical for the area or in some way unusual.

Just use a realtor.  In TX, selling prices aren't in the public records, so you have to go to the MLS to find comps.  You're not local, so you'll need someone local to show the house and deal with buyers.  Get on realtor.com and search for similar houses in the same area.  Look at the agents who have those listings.  Look for the listings that are better than others - more pictures, more details, better descriptions.  Call those agents and have a chat.  If you like the agent in the discussion, ask them to tell you what you think its worth.

Better still would be to go there and meet with the agents in person.  Find three or four who pass your phone screening, and tell them you'll be at the house on a certain day and time and make an appointment to meet them.

Cendy Prator · Answer

Joanne I am not sure what you are saying when you say "creating some excitement"  I am not sure how to do that.  I have it listed for $51,500, which is low based on comps.

Cendy Prator · Answer

Thank you for all your responses!  I am selling it at a lower price.  I have looked at comps in the area which are from $59K to $69K.  The house could be use as a vacation house.  The Piney Woods region is in East TX which is abundant with recreational areas.  The closest is Wright Patman rec area which is about 15 mins from the home.  It would also be a good home for someone wanting to retire as it is just far enough from town and the cost of living is much more reasonable than the larger city in TX Dallas-Fort Worth or Houston.  It could also be used as a starter home for a couple starting out.  I have listed it on this site and I do currently have someone interested in purchased just waiting to see about financing.

Joanne Freedmon · Answer

I would suggest throwing it out real low and creating some excitement. Then you may get into a multiple offer situation.

David L. · Answer

Maybe the question you should ask first is how much are you willing to sell it for.  Then ask your local broker to see if you can get that.  Once you have your determined your net profit, you can make an informed decision if this will work for you.  Your expectations may not meet current market value.  Also, if this is not an urgent situation, I would consider waiting until the market gets better (i.e. more growth or more demand), assuming that the market there is similar to the rural areas in DFW which currently tends to be slow.

Brian Haskins · Answer

List it with a realtor or put it on craigslist. A realtor will  help you determine the price. You could also drive around and look at other listed properties and see what they are listed for.

Brian Haskins

Vikram C. · Answer

Are you looking to sell to people who wish to live there or those who might want a vacation home?  Is the area scenic?

Shanti S. · Answer

Why not contact a local recommended realtor?  Let them know you're thinking of selling and they should be able to give you some recent comparable sales.  They should also be able to provide you with MLS access so that you can do some comp research of your own.  Finally, they should have access to a pool of buyers who are eager to claim that first-time homebuyer's credit before it expires.

What are my options

Most Popular Reply