There are three reasons why a home sells:

• Price

• Condition

• Location

Trying to attach a market value to a home is very difficult.  It is complex equation of factors including showing quality, time frame for sale, location, buyer needs, etc.  It is very important to think carefully about your asking price.  You want to get you the highest price, but still sell the home when you need it sold.

Seller control salability:

1. Seller controls the condition of the property.
2. Seller controls the terms they will consider.
3. Seller controls the asking price.

The Market determines value:

1. Beyond the control of the seller is the value a buyer will assign to a given location and the number of homes for sale in that location.
2. Buyers are not intested in what a seller paid for the property and how much you have spent on redecorating.
3. Buyers are not interested in the amount of money you will need to purchase your nest home.
4. Buyers will always search the marketplace for the best value.

Myths can keep you from securing Home Ownership in Clear Lake and League City, Texas. Overcome the myths and be on your way to your new dream home!

Myths about Mortgages:

Mortgage Myth #1:  I had some debt when I was young and I ruined my credit.  I’ll never get a mortgage.

• You don’t know what your credit history shows until you look.  And if you do have blemished from the past, lenders will show you how to improve your credit and restore good credit practices on your part.

Mortgage Myth #2:  I heard that you need to put 25% down to buy a home.  But my friend says that you can get a mortgage with no down-payment at all!

• Both scenarios are uncommon.  Although there are a variety of financing programs available, most require you to put at least 3.5-10% down, but rarely would you need 25%.

   Myths about Agents

Agent Myth #1: If I have several agents looking for homes on my behalf, I’ll find a house more quickly.

• Like most relationships, this one thrives on communication, loyalty and trust.  By working exclusively with one agent you will improve both the process and the results.

Agent Myth#2:  If I want an agent to represent me as a buyer, I’ll have to pay them myself.

• Buyer representation means that the REALTOR you select works with your best interest in mind.  In most cases, however, they receive a portion of the commission paid by he seller.

Myths about Buying:

Buying Myth #1:  I should find a new home first before I sell the one I now own.

• If you find a buyer for your home first, you’ll have more negotiating power in both the sale of your current home and the purchase of a new one. 

Buying Myth #2:  I just made an offer on a house I love.  But so did several other people.  I’m worried that someone else will out bid me and get it.

• Different sellers are motivated by different things.  In addition to price, a seller will look at the other terms of the offer–contingencies, closing date, required repairs, etc.  Many times a “clean” offer from a pre-approved buyer will be more attractive, even if the price is slightly lower.