January home sales in Georgetown, TX
February 9, 2009 at 9:04 pm , by Jenel Looney
| I waited until February 9 to run the MLS report to give agents around Georgetown plenty of time to enter their January sales into the database. Even so, the number of sales for this January is lower than those of any other January this decade. |
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| 2003, the next lowest year, saw 45 sales in January. This past month, only 32 properties went to the closing table. (It’s possible that number could creep up a little bit if an agent or two has yet to enter their sales into the database, but we won’t get enough additional sales to bring us out of last place for the decade.) |
| Sellers, it’s time for a reality check. There are currently 617 residential properties on the market in MLS areas GTE and GTW. At the current rate of 32 sales per month, that means we have almost twenty months of inventory. Sales have to pick up to absorb some of this inventory. Interest rates are very low, but loans are hard to come by. There simply aren’t very many qualified buyers out there, and the ones who are shopping are looking for bargains. And so they should. Wouldn’t you? |
| And in fact, you still can. If you lower your asking price, you won’t pull out as much equity as you’d hoped on your current house. But…you’ll in turn get a bargain when you buy your next home. |
| My honest advice to sellers right now is, if you’re not willing to lower your price, then now is not the right time for you to try to sell. Pull your house off the market and wait until the market swings back in your favor. If you can’t wait, then price your house below the competition - as far below as you can handle - and make sure your house is as pretty as it can possibly be. With one buyer out there for every 20 homes on the market, you have to do everything in your power to make yours the best house that buyer can get for the money you’re asking. |
Category Georgetown Real Estate / Tags: /
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by February home sales in Georgetown, TX | HometownGeorgetown.com
On March 23, 2009 at 7:56 am
[...] areas GTE and GTW in the month of February. That’s down ever-so-slightly from January (see my January home sales report). I’d say it’s really pretty flat, especially when you consider that January had three [...]
by Sharron Dunning-Fink
On March 23, 2009 at 8:25 am
Jenel,
One more thing to help sellers… Get rid of the clutter. It is nice to see how a room can be arranged, however less is better. Having less furniture and “stuff” sitting around will show the sapces open and airy. Pull back drapes, and blinds let the light shine in all those floor to ceiling windows.
Omar and I will be making our trip out from the East Coast soon, and we will be seriously searching for the area we wish to retire, and homes we would like to purchase. Take care dear, and God bless.
Sharron and Omar