April 2016

Thirty-three homes sold in April in Saginaw. These sales continued the trend of a hot seller’s market for preowned, more affordable homes and the steady sales of larger, more expensive new construction.  The least expensive homes both sold for $125,000.  One was in Parkwest and the other in Saginaw North.  Both houses were about 1400 square feet. The most expensive homes were two that sold for $360,000.  These were new construction in Creekwood with 3302 square feet and 3286 square feet.

The average size of a home that sold in April was 2095 square feet, but 17 homes were less than 2000 square feet. Only three houses were more than 3000 square feet, the two most expensive homes in Creekwood and a large home in Highland Station home built in 2001 with 3655 square feet that sold for $219,000.

With the sales prices ranging from $125,000 to $360,000, the April average price for a home that sold in Saginaw was $191,260.  The median price was $172,000.  The average home sold for 99.57% of the list price.  Thirteen of the homes sold for more than list price and seven for full price.  Buyers can’t find any bargains here!

Including the new construction, the average home was on the market for forty days.  Leaving out the new construction brought the average time on the market down to twenty days, and thirteen homes sold in less than two weeks.  Even these numbers are deceiving because they represent the extra time that agents allowed for buyers to bring their highest and best offers after receiving multiple offers on a home right after it came on the market.  Because of the pressure to make quick buying decisions in this frantic market, more buyers are changing their minds about purchasing a home during the option period, and these houses come back on the market, adding to the average days on the market when they are finally go under contract with another buyer.  In the past when more homes were available for sale, buyers thought longer before making the initial offers, and less homes came back on the market because buyers decided the home just wasn’t quite right for them.  Because buyers frequently change their minds, writing a back-up contract can be a smart strategy in this market.

If you would like more detailed information about marketing your home or the local market, please contact me.  To serve buyers I can set up an instant search for homes meeting your special criteria.  I can help you be the first to see and make an offer on homes in our area.  With my expert knowledge of our neighborhoods and community, I can help you make wise choices.

– Kathleen Wheeler –

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March 2016

The March 2016 sales for Saginaw followed the trend of the last few months with a low inventory of houses for sale in the lower price ranges.  Only ten houses sold for less than $150,000, and twelve sold for between $150,000 and $200,000.  Eight houses sold for more than $200,000 with the highest priced home selling for $332,871.  This home was new construction in the Creekwood subdivision.  The average sold price for a home was $176,675, and the average year built was 1997.

Three types of homes sold in Saginaw last month.  First were the rare investor homes with structural problems.  These do not qualify for FHA, VA or even some conventional financing.  Cash buyers can find bargains for less than $100,000 if they can do repairs such as foundation work.  These homes are sometimes foreclosures, but individuals who are unable to make the repairs also sell distressed properties.  The second group of homes were the preowned homes.  Twenty-two of these homes sold with an average sold price of $161, 568.  The final sold price was 99.24% of the list price, and the average days on the market was 21 although the median days on the market was only 6 days.  Twelve houses sold in less than one week.  New construction is the third type of home in Saginaw.  Five newly built homes sold with prices ranging from $250,000 to $332,871.

This frantic market is good for sellers but a challenge for buyers.  If you wish to purchase an existing home in Saginaw, and you are not already working with another real estate agent, contact me and I will set you up a personal, online search that will send you information about listings as they come on the market.  These updates are sent to potential buyers within minutes of when they hit the market.  If you contact me immediately, I will set up a showing for you as soon as possible, often within the day.  When sellers are receiving as many as ten offers on one property after the first day on the market, you need an aggressive buyer’s agent who can serve you promptly.  Do you need a mortgage lender?  I can provide you with several lenders who give excellent service with competitive rates.  Please contact me if I can help you in any way.

– Kathleen Wheeler –

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February 2016

The Saginaw Residential Real Estate Market
Remains a Wonderful Seller’s Market

A total of twenty- six houses sold through multiple listing in February 2016 in Saginaw.  One foreclosure sold in Highland Station which was an online auction sale.  That property was on the market for 144 days.  Another foreclosure sold in Rancho North.  McBee, who sells new construction, sold one house in Willow Vista.  Two homes sold in North Fork Estates where homes are on acre lots.  These residences sold for $225,000 and $290,000.  Even calculating these outlaying sales into the average, the average sold price of a Saginaw home was $166,000. The average time on the market was 21 days and the average seller received 99.88% of the list price.

When we eliminate foreclosures, new construction and homes with acreage, only twenty homes sold in Saginaw in February.  Of these twenty only one sold for more than $200,000, a home with a pool in Willow Creek Estates.  The least expensive home sold for $130,000.  The average price of these twenty homes that sold by individuals in Saginaw last month was $159,195.  The average list price was an incredible $158,985.  Yes, you read that correctly.  The average house sold for 100.25% of the list price! The average home was on the market 15 days, but eight of the homes were on the market less than a week.  Often the extra days on the market are because the buyers are in a multiple offer situation, and the seller has asked for the highest and best offer. The seller will give time for more offers to come in and for buyers to talk to their lenders and partners about higher offers.  These frequent multiple offers make this a great sellers’ market!

– Kathleen Wheeler –

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Tax exemption

If you purchased your current home in 2015 and reside at that address, now is the time to file for your homestead exemption.  If you have received “official looking” notifications in the mail wanting you to pay for this service, you can throw these away.  Filing for your homestead exemption is completely FREE with your tax assessor’s office.  You can easily get all of the information by searching the Tarrant Appraisal District website online.  Please call me if I can help you in anyway.

– Kathleen Wheeler –

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January 2016

In January Saginaw Homes Sell at List Price or More

The most surprising news from last month’s Saginaw home sales was the fact that the average sales price was 100.39% of the list price. Twenty- three houses sold in Saginaw in January for an average price of $162,502.  Eleven of these sold above the list price, and five sold for the list price.  Let’s look at what these numbers mean.  For many of the homes, the higher price is actually the list price with extra money rolled in for closing costs for the buyer.  Only a few months ago a full price offer with a request for the seller to pay some closing costs could buy most homes but not in our current market. Two homes actually sold for prices significantly above the list price without the seller paying closing costs.  Both were large two story houses with downstairs master bedrooms in the 76131 ZIP  code area.  Both had large lots, and one had an inground swimming pool and sold for $207,000.

Are you wondering which homes didn’t sell for full price?  A vacant former rental property that sold immediately went for a discount.  Possibly the investor wanted a quick sale.  Another home with bright colored walls didn’t close on time, and the price reflected the market at the time of the signed contract last fall.  Houses with all of the bedrooms upstairs sold at a slight discount.

The five homes that sold for more than $200,000 were interesting.  The home in North Fork Estates, the house in Creekwood and the two story in Heather Ridge all sold at a discount. The house with the pool in Highland Station brought the seller and extra $2000 over list price, and the new Antares home in Saginaw Springs sold for the list price of $224,848.

The average days on the market was 34, but this number is very deceiving.  The new Antares home took 197 days to sell, and eight houses sold in less than a week. Now attractive, less expensive homes will get showings and offers immediately although several days may pass before all of the documents are signed to have an executed contract.  When the listing agent receives multiple offers, the seller may ask for a “highest and best offer” and give everyone a couple of days to check with lenders before the final execution of the best offer.  These multiple offer situations are very common in our current market.  I received six offers on my recent listing in Parkwest.  This negotiation time adds to the days on the market.

The statistics for last month’s Saginaw sales were very unique in another special way.  No houses sold in the $166,000 to $204,000 price range, and the average year built was 1997.  Many Saginaw subdivisions didn’t report a single sale.  I think these numbers reflect the fact that many Saginaw residents are not moving, and these price ranges are close to the cost of new construction.

– Kathleen Wheeler –

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Warning

The lease scam is with us again!  Be careful of rentals advertised on Craigslist!  Criminals will search the internet for homes that appear to be vacant and then advertise them for lease, usually at enticingly low rents.  The scam artists pose as the owner or as a legitimate leasing agent.  The imposter wants you to meet them at the property or send money for the rent and a deposit.  The mailing address they give you is often out of the country so that they avoid US mail fraud charges. The criminals take your money and disappear. The house they use for their crime might actually be for sale, and not for lease at all.  This scam was especially common during the Recession when so many foreclosures sat vacant for many months.

If you are interested in a lease property, rent through a Realtor or know the person who is leasing the property to you.  If you lease directly from the owner, you can ask the landlord for identification and check the ownership of the property in the tax records.  Contact me if I can help you check the status of a property in MLS.  If you think you have uncovered a criminal scam, please contact the authorities.

– Kathleen Wheeler –

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December 2015

Only twenty- five homes sold in Saginaw in December 2015.  Fewer sales were the result of lack of inventory for homes less than $200,000, new lending rules that delayed closings and normal seasonal adjustments.  At this time only fourteen homes are for sale in Saginaw for less than $200,000.

Of the twenty- five houses sold last month, six sold for less than $100,000, and five of these sold for cash.  These homes were opportunities for fixing up and reselling, renting or acquiring a home to enjoy, but houses in this price range in our market require repairs and work.  My listing in Saginaw North sold for $89,000 cash and needed foundation work, a new air conditioner and new landscaping, which is a typical scenario in our Saginaw market.

Low inventories continued to plague our market in December in the moderate price ranges.  Only eight houses sold for between $110,000 and $180,000 in the 76179 zip code.  These houses usually sold for list price.  The lowest relationship between sales price to list price was a discount of 2.47 %.  In other words, the buyer paid 97.53% of list price.  Even that transaction was not what it appeared.  The low appraisal reduced the sales price from the original list price to allow the new buyer to obtain a loan.  The average time on the market was 16 days, and the longest market time was only 46 days.

The 76131 zip code had nine sales with a price range from $140,000 to $225,000.  The average sales price was 100% of list price with the largest discount between list price and sales price being 6%.  This buyer paid 94% of the list price.  The average time on the market was 26 days, and longest time was 75 days.  The homes sold in 76131 include more big two story homes than those sold in 76179.  These generally take longer to sell than the one stories.

As Saginaw has grown, the traffic on Main Street Saginaw and Blue Mound Road has increased greatly.  The trains that come through our town also increase travel time from one side of the city to the other.  The result is buyers moving to our area who request a home in 76179, the western part of Saginaw, or 76131, the eastern part, depending upon where they plan to travel each day.

As of January 8, 2016, thirty-four homes were for sale in Saginaw for more than $200,000.  Many of these are new construction in the Creekwood, Dominion, Willow Vista or Saginaw Springs subdivisions.  The most expensive home was on Mangrove Trail in Creekwood with a list price of $396,829.

The new year is beginning with low inventories for existing homes and great opportunities for sellers.  Low appraisals are keeping the prices from accelerating too fast, but homes are selling quickly for very good prices.  If you wish to relocate, plan to put your home on the market at least two months before your move.  If your buyer must be approved for a loan, the loan process will take an average of 45 days to close under the new government regulations.  If you would like to know about what is happening in our real estate market right now, please call me, text me, or send me an e-mail.

– Kathleen Wheeler –

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Preparing to Sell Your Saginaw or Fort Worth Home in the Spring? Get Ready Now!

Begin Early!

By locating your important documents, beginning organizing, starting your repairs, and making preliminary plans, you can save yourself significant stress and make your home sale next year easier, faster and more profitable.  When you are ready to put your home on the market, your time will be filled with those last minute details that make your home look its best and help you get your highest price.  Looking for a new home consumes time and energy.  Once your current home is under contract, you will often have a list of repairs that need attention: therefore, why not get started early?

Start Your Move in Your Filing Cabinet!

Pull out the files for your home, including the closing documents from your home purchase.  Find your survey. Unless you refinanced your house or moved your fence, your survey is probably with your closing documents from your original purchase.

Survey

If you can provide an acceptable, existing survey to the title company when your home sells, a new survey may not be necessary, which could save you about $400, the charge for a new survey.  Other important documents in your file cabinet include your original loan documents or proof that you paid off your loan.  The title company will request probated wills, heirship affidavits, and divorce decrees as they pertain to the property.

Receipts, warranties and documentation of repairs and modifications are important.  These will give information about transferrable warranties, such as for a new roof or for foundation repair.  Did you do any home construction that required a building permit?  Put the permit with your important papers.  The booklets that come with your appliances will be helpful to the new owners, especially for information about operation and replacement parts.  Don’t forget to have recent utility bills handy because future buyers often ask about the cost of gas, electricity and water.

Selling Your Home is Only Half of the Move!

Our Fort Worth area housing market has been very good for sellers during the last few months.  If you listed your home, you could feel confident that your home would sell, which means a potential seller needs a plan of action for moving.  Are you planning to buy another home?  Are you purchasing locally?  Your seller’s agent can set up your free, online search for homes in the multiple listing service that might suit your needs and meet your criteria.  If you use your selling agent as your buyer’s agent, she can help you coordinate your sale, purchase and move smoothly by knowing how both transactions fit together.  While you are at the very beginning of your home search, you might enjoy driving by the home listings your agent sends you.  These drive-by viewings will give you a feeling for neighborhoods and be helpful later when you become more focused and serious in your search.  Ask your agent to help you find new construction that is just right for you if you would like a brand new home.

This is also the time to meet with your CPA, financial planner and mortgage officer as you make plans to pay for your new home.  If you do not have a favorite mortgage officer, ask your real estate agent.  Most agents have a list of mortgage officers who have given other buyers great service, and we agents also know which lenders have special programs that might help you.

Maybe you wish to move into an apartment or other rental property.  Begin researching the prices, availability and desirability of different units or houses.  I have met with potential sellers who decided against selling their homes after learning current apartment rents.  If you don’t have a home immediately ready for you right after the sale of your home, you will need to make temporary living arrangements, such as leasing back your current home or living with friends or relatives.

Repair, Sort, Discard and Clean!

Making repairs months in advance will save you the stress of having to do the work under pressure after the problem shows up on an inspection report or after it scares away buyers.

Gutter

Some of our beautiful winter days are perfect for trimming trees or bushes, cleaning or repairing gutters, or fixing wood trim.

Wood

Why not look for potential problems as you put up or take down Christmas decorations?  Many Texas winter days are great for cleaning and organizing the garage or storage building.  Painting exterior trim is often very beneficial in making your home look its best.  Check the ideal outside temperature for exterior paint before starting to paint.  A day that is great for repairing gutters might be too cold for painting outside.  Even a cold, dreary day is a great time to visit the paint department and make plans for spring painting.

Garage

Inside your home you can be decluttering, repairing and cleaning.  If you put away decorative items as you take out your Christmas decorations, think about whether to bring those things back out after Christmas.  Why not pack them for moving?  Your home looks more spacious with fewer decorations.  Look at your closets.  Will your possessions attack potential buyers if they look inside?

Christmas can be a great time for house repairs.  As family and friends come to visit, you will be reminded of the leaky faucets and toilets that don’t quit running.  I’ll never forget the Christmas my son came to visit and fixed the drywall hole in the kitchen where his father stepped through the ceiling. My son made the repair at the same time that I whipped up the mashed potatoes for our Christmas dinner.  As I cleaned up the kitchen, I couldn’t distinguish the potatoes from the spackle from the ceiling, but I was delighted to have the hole in the ceiling fixed!

Cleanliness is so important when trying to sell.  Obviously, it’s much too soon to do the cleaning that makes the bathroom and kitchen fixtures shine, but it’s not too soon to wash the curtains.

Curtin

Take a look at the baseboards.  If they can’t be scrubbed, consider painting them.  Take a look at your ceiling fans and light fixtures.  When was the last time they were cleaned?  Even though they will probably need to be cleaned again, why not make a first pass at them now?

Baseboard

Buyers seem to always check out the oven.  After you are finished with the holiday baking, cleaning the oven would be a worthwhile project.  For many of our sellers, doing the deep cleaning necessary to make a home really ready to go on the market and receive the highest and best price is a real challenge as they juggle life’s many demands.

Now is a good time to make plans to hire a professional cleaner.  Often the best ones are those who work for your friends and family and come with high recommendations.

I hope these suggestions have given you ideas that will make selling your home easier, quicker and more profitable in the spring.  Please contact me to discuss how I can serve you.

– Kathleen Wheeler –

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November 2015

Saginaw, Texas, Residential Sales for November 2015

The Saginaw home market slowed down with only 20 houses sold in November.  Compare this number to 41 Saginaw sales in August and 29 in October.  This decrease in sales is a normal seasonal adjustment.

The average November sold price for a Saginaw home increased to $189,099 because fewer inexpensive homes were available. The average price for October had been only $149,531. In November only one home sold for less than $110,000, a sale in Parkwest for $102,709.  All other sales were above $140,000.  Builders sold three new houses.  All of these sold for above $200,000, including one for $274,931.  A total of six houses sold for more than $200,000.

– Kathleen Wheeler –

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October 2015

October Sales Begin to Show a Shift in the Market

After months of expensive, quick home sales, the market began to shift.  Let’s compare October sales to August sales for Saginaw.  In August 41 homes sold, but in October only 29 homes closed.  The average price in October was $149,531 compared the $155,000 in August.  The average days on the market increased from 26 days in August to 36 days in October.  Sellers received an average of 96.98% of their list price instead of the amazing 98.22% paid in August.  Only two newly constructed homes sold in October with prices of $268,000 and $250,000.  These were the most expensive sales in Saginaw.

A surprising shift for the market was the availability of older, smaller, less expensive homes.  Five homes were sold in Rancho North in October.  Eight of the homes that sold were built before 1980, and the average year built was 1990.  Five houses sold for less than $100,000, and ten of the 29 sold for less than $130,000.  These sales are good news for first time home buyers who have been anxiously waiting for homes like these to come on the market.

Possible explanations for the greater availability of less expensive homes include the readiness of sellers of “move-up” homes to accept contingent sales, the general price increase of all homes in our area and the time of the year.  As the year progresses toward winter, and the real estate market generally slows, sellers have become more accepting of sales that were contingent upon the buyer’s sale of his existing home.  Yesterday I helped clients buy their new home with such a contingency.  We looked for homes for four years and made many offers.  None of the sellers wanted to bother with a “kick-out” contract.  When I finally found a seller who would accept our contingency, I was able to sell their desirable, small home very quickly, and the whole transaction fit together smoothly for everyone.

The frantic sales of the spring and summer have increased the values of most homes in our area.  With the greater equity sellers are able to buy larger houses, move to other parts of the country or make lots of life style choices that weren’t available to them when home prices were less.

What do these current market changes mean for buyers and sellers?  If you are a buyer, you will pay more for a home than you would have a year ago, but new listings are coming on the market every day.  By searching for a home now instead of last spring, you will not be competing with as many buyers, and the sellers might be more willing to negotiate with you.  You also might find just the home of your dreams with fewer buyers in the market.

Sellers can expect homes to stay on the market longer, and multiple offers are less frequent.  Sellers can take solace in the fact that their homes will be appraised according to the amazing sales prices of this spring and summer.  Here in Fort Worth our market is never dead, but it slows down when folks start Christmas shopping.  These beautiful fall days are a perfect time to go look at houses!

– Kathleen Wheeler –

 

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September 2015

September Saginaw Home Sales

In previous months I gave a summary for all of Saginaw’s sales and combined all of the sales together.  For September I am analyzing the sales by subdivision to give a different perspective on what is happening in our neighborhoods.  Here are the neighborhoods as they ranked by number of homes sold, the average price, average size and the average time on the market.

HEATHER RIDGE: 8 sales; $154,250; 2117 square feet; 19 days (76131)

HIGHLAND STATION: 5 sales; $158,700; 1989 square feet; 25 days (76131)

PARKWEST: 4 sales; $146,950; 1701 square feet; 21 days (76179)

WILLOW CREEK: 4 sales; $184,625; 2010 square feet; 11 days (76179)

CREEKWOOD: 3 sales; $320,052; 3097 square feet; 2 days (76131) – 2 new homes

COURTS OF WILLOW CREEK:  3 sales; $228,167; 2629 square feet; 51 days (76131)

RANCHO NORTH:  3 sales; $129,667; 1919 square feet; 25 days (76179)

SPRING CREEK: 2 sales; $149,500; 1640 square feet; 13 days (76131)

SAGINAW NORTH: 2 sales; $131,750; 1869 square feet; 37 days (76179)

SAGINAW SPRINGS: 2 sales; $257,000; 2656 square feet; 70 days (76179)

WHISPERWOOD: 2 sales; $172,000; 2186 square feet; 54 days (76179)

WILLOWSTONE: 1 sale; $145,000; 1558 square feet; 8 days (76179)

WILLOW VISTA: 1 sale; $249,000, 2106 square feet; 104 days (76179)

COMMONS: 1 sale; $165,000, 1744 square feet; 134 days (76179)

DOMINION: 1 sale; $175,000, 2085 square feet; 0 days (76179)

Prices have steadily gone up since the beginning of this year, and these sales by subdivision reflect these increases.  Most of the numbers follow the trends for our community since spring, but please note that the prices in Creekwood, Saginaw Springs and Willow Vista are the cost of new construction.  Only one home in those three neighborhoods was previously owned.  Rancho North and Saginaw North are the oldest neighborhoods with sales in September.  The houses sold in those subdivisions were exceptionally large for their neighborhoods, and some had garage conversions and room additions.

– Kathleen Wheeler –

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August 2015

The August residential home sales for Saginaw looked very similar to the sales in July.  The busy summer market recorded 41 sales with an average sales price of $155, 226.  The average time on the market was 26 days, and the average home sold for 98.22% of the list price.

The price range of the sold properties is always interesting.  The least expensive home sold was a HUD foreclosure in Rancho North listed for $75,000 that sold for $79,000. Foreclosures often sell for more than the list price in this market. The most expensive home sold in August was on Chestnut Lane in the Commons.  It sold for more than the two newly constructed homes in Saginaw Springs, but the new homes were considerably smaller.  Nothing sold for more than $234,000.  Currently thirteen Saginaw homes are actively for sale for more than this price.  The most active price ranges were between $120,000 and $130,000 and $130,000 and $140,000.  Seven houses sold in each of those price ranges.

The subdivisions with the most activity were in the 76131 zip code.  Five houses sold in Heather Ridge and five in Highland Station.  In the 76179 zip code the older neighborhoods had good sales; three houses sold in Rancho North and three in Saginaw North.  Willowstone Estates was active with four sales, and the Parks had three sales. Some investors sold properties to take advantage of the prices that have been going up all year and to cash in on their appreciation.  These sellers did especially well if they purchased homes as foreclosures or short sales during the recession or many years ago.

– Kathleen Wheeler –

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July 2015

Thirty nine houses sold in Saginaw in July.  The prices did not change much from the previous months with an average sales price of $159,992.  The highest priced home was a newly constructed Highland Home in Creekwood that sold for $318.990.  The lowest priced home was the foreclosure in Rancho North that sold for $93,000.  This was the only foreclosure sold in July, and only one other newly built home was sold, a Cheldan home in the Dominion selling for $206,399.

The most noteworthy statistics for July sales were the number of days on the market.  The average days on the market was only 25 days.  Even this average was deceptive because the few homes that lingered on the market a long time, such as the new home in Creekwood that was on the market for 319 days.  Twenty one of the thirty nine houses sold in less than a week, and twenty three houses sold in less than two weeks.  These fast sales were convenient for sellers, but they put pressure on buyers to make quick decisions and forced buyers to view homes immediately as they came on the market for fear of missing out if they were unable to see a new listing the day it hit the multiple listing service.

In this frantic market sellers were usually able to get very close to their list price for their homes.  The average home sold for 99.52% of list price, and twenty two homes sold for 100% or more.  The transactions with prices exceeding the list prices usually were sales with some seller paid closing costs rolled into the price or the result of a multiple offer scenario.

Many of the transactions discussed in this blog are based on contracts signed in June. As the market moves forward toward fall, the usual trend is toward slower sales and a less robust real estate market, but the lack of availability of homes at moderate prices in Saginaw could keep many sellers happy for now.  Buyers will need to scramble to purchase homes immediately as they come on the market if they desire homes in the lower price ranges. On August 5, 2015, only ten homes were for sale in Saginaw for less than $150,000.  Only thirty two homes were listed for less than $200,000, but sixteen houses were listed from $200,000 to $300,000.  Three homes are even listed at over $300,000.

– Kathleen Wheeler

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June 2015

Sellers jumped on board, and buyers saw more homes come on the market, which allowed for the amazing forty home sales in Saginaw in June.

Thirteen homes sold in less than two weeks.  With more homes available to buyers, about a third of the houses sold within two weeks.  In May half sold within 14 days.  I expect the days on the market to increase with the summer temperatures and the number of homes continuing to come on the market.  The average days on the market was 50 days for homes owned by individuals.  My sales included the home at 312 Willowstone which sold in 39 days and 656 Fossil Wood that was under contract in four days.

The average home sold for 98.21% of list price as compared to 99.08% in May.  Although the difference is not great, the change represents more competition in the market.

The sales prices for homes in Saginaw ranged from $112,900 for a home in Rancho North to $365,000 for a new home in Creekwood.  Only eight houses sold for less than $140,000.  The average price for a home sold by an individual (not new construction) was $158,500 and the highest price was $210,000.  When new construction was added to the average, the average sold price jumped to $179,526.  Sold new construction included four Highland Homes and one Plantation home in Creekwood and one Lillian home in Saginaw Springs.

– Kathleen Wheeler –

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May 2015

By May the Saginaw housing market had picked up speed and thirty two houses sold. More than half of the homes sold in less than two weeks.  The average home sold for 99.08% of list price.

Saginaw home prices ranged from $90,000 for a home in Saginaw North to $368,697 for new construction in Creekwood.  The average sold price for a Saginaw home was $182,590, but that included the five new homes in Creekwood which sold for more than $300,000.  The average sold price for a home was $153,735 when new construction was omitted.

– Kathleen Wheeler –

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April 2015

April Sales

Twenty seven homes sold in Saginaw in April.  April sales continued the general trend of March with the average home sales price of $139, 245 for homes other than new construction.  The largest number of homes sold for $151,000 to $160,000 in both months.  Of the existing homes nothing sold for more than $180,000, and the average days on the market was 64 days. Only four homes sold in less than a week, and three were for sale for more than 100 days.

The most interesting statistic about the April sales was the relationship between the list prices and the sales prices for homes other than new construction.  The average home sold for 101.07 % of the list price.  Only four homes sold for less than list price.  Gone are the days when the average home sold for 95% of list price in this market!  Twelve of the twenty five sellers paid closing costs for the buyers which ranged from $1000 to $5500.  The average seller paid $2020.  Some sellers received more than full list price, especially when they received multiple offers for their homes.

Four foreclosures sold in April.  The HUD foreclosure on Parkhill Avenue sold for $8700 over the HUD list price, the one on Sawyer Drive for $1000 over the asking price, and the house on Ruidoso Drive for $3100 more than the list price. The foreclosure on Commonwealth Drive that sold for $171,436  instead of the list price of $183,400 was the only Saginaw house with a significant discount for the buyer.

Two newly constructed homes in Creekwood sold in April.  One was a Highland Home and the other a Plantation Home.  One sold for $322,019 and the other for $324,383.

– Kathleen Wheeler –

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March 2015

The Saginaw sales for March can easily be understood by looking at the graphs below:

March Sales Chart

March Sales DOM

Here are the Saginaw subdivisions represented in each price range:

  • $90,000-$100,000  Saginaw North, Rancho North
  • $101,000-$110,000  Rancho North
  • $111,000-$120,000  Saginaw North
  • $121,000-$130,000  Parkwest, Whisperwood, Willowstone
  • $131,000-$140,000  Rancho North, Willowstone, Highland Station
  • $141,000-$150,000  Highland Station, Spring Creek, Whisperwood
  • $151,000-$160,000  Rancho North, Spring Creek, Parkwest, Heather Ridge
  • $161,000-$170,000  Heather Ridge, Willow Vista
  • $171,000-$180,000
  • $181,000-$190,000  Saginaw Springs
  • $191,000-$200,000  Dominion

– Kathleen Wheeler –

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February 2015

The February Saginaw sales reflected the continued low inventory of homes for less than $200,000. Buyers who want to find a home in this market need to work very closely with their buyers’ agent and get immediate updates on any new listings so that they don’t miss out on homes when they first come on the market. Really desirable homes often get offers within the first day or two. The days on the market may look like more in our MLS, but the days on the market (shown as DOM for agents) reflects the total time for all of the papers to go back and forth between the agents before a contract is actually executed.  The average days on the market was 53 days, but please note that four of the 21 homes sold were on the market for more than four months.

The price ranges for it for the houses that sold in Saginaw last month amazed me. Only two houses sold for less than $100,000.  Three houses were in the range from $100,000 to $120,000.  Five homes sold for $120,000 to $150,000, five for $150,000 to $200,000, and another five for $200,000 to $250,000. One house even sold for $337,000!

Let’s look at the sales data in more detail. Three sales were in Saginaw North; the most expensive home in that subdivision sold for $110,000.  Highland Station had four home sales and a top price of $155,000.  The Courts of Willow Creek had three sales with the most expensive home selling for $200,000.  The Courts of Willow Creek is highly desirable neighborhood where residents seldom move; therefore, three sales in one month there was highly unusual. Creekwood had four sales including the most expensive sale, which was new construction.  Another newly constructed home sold in Saginaw Springs for a total of two sales that were new construction.

Several of the recent home sales represented leased properties that were now worth selling since prices have gone up.  Perhaps you owned a home in our area and have been leasing the property as you waited for the prices to increase before you sold.  Maybe you are dreaming of moving to another part of the country, purchasing a larger home or making a life-style change. Please contact me and let me send you a free current market analysis . All I need is EZ Price in the subject line and your property address.  If you send me a text, I will need your e-mail address.  I’ll send you an e-mail with all the information to give you the latest information about the value of your home.  I look forward to serving you!

-Kathleen Wheeler –

 

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January 2015

Saginaw Residential Sales Report for January 2015

Eight homes sold in January of 2015 in the City of Saginaw.  The small number of sales reflects the lack of homes for sale, not a shortage of potential buyers.  The homes that sold for less than $140,000 were on the market an average of 30 days.  This average market time is surprisingly long considering how much the market has heated up just since the start of the year.  Please remember that many homes sold in January were viewed and went under contract over the holiday season when potential homebuyers were busy with activities other than real estate.

Here are the prices of the houses sold in January.  Two houses sold for between $110,000 and $120,000, and four houses sold for from $120,000 to $130,000.  Saginaw had one sale of $149,900 and one for over $200,000.

Half of the sellers received full list price for their homes.  The average sale was 98.79% of the list price.  About half of the sellers paid for some buyers’ closing costs. The seller of the home in Creekwood which cost more than $200,000 paid for the buyers’ closing costs plus accepted a negotiated price lower than the list price, but all of the other sellers received full price or more if they paid any closing costs.

As we move forward into 2015, the market looks even more absurd as the difference between what buyers want and can afford and what is available widens.  As of February 12, 2015, Saginaw has three houses for sale for less than $100,000, six for between $100,000 and $150,000 and nine listed for $150,000 to $200,000.  Our Multiple Listing Service shows 39 active listings in Saginaw with an average price of $227,841.  Twenty-one homes are for sale for more than $200,000, and many of these are new construction.  If you have been thinking about selling, now is a great time to list your home.  Please contact me for more detailed information about the value of your home and how I could serve you!

– Kathleen Wheeler –

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November 2014

November sales showed continued low inventories and high demand for moderately priced homes. In November 19 houses sold in the City of Saginaw.  Of these 19 homes, 13 sold for less than $150,000.  Only three houses sold for more than $200,000.  The average days on the market was only 37 days, and one home was on the market six days.

Today, December 20, there are seven homes for sale in the City of Saginaw for less than $150,000 although there are a total of 39 houses.  New listings include seven houses listed at over $300,000 and eleven in the $200,000 range.  These more expensive houses include new homes in Saginaw Springs and in Creekwood plus some existing homes in our premier subdivisions.

If you are considering selling, this could be a great time to list your home.  We still have buyers and the inventory is incredibly low.  Please call me, text me, or send me an email for free market analysis, and watch my blogs for market updates.  If you would like a free market analysis, simply e-mail me with the subject line as “EZ Price” and send me the property address.

If you are in the market to purchase a home, please contact me!  I can set you up a free search that will send you information about listings just as soon as they hit the market.  I can be ready to show you that new listing the day it comes on the market, often within hours of the time that it is entered in MLS.  Because desirable houses sell so quickly in Saginaw, I often feel as if I were selling fresh pastries.

They are best that very day they come on the market!  Don’t miss out!  Contact me and let me help you!

-Kathleen Wheeler –

 

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Happy Thanksgiving!

I sent my good wishes and my expressions of gratitude out on a postcard to several thousand friends and residents of my community.  I sent these with a sincerely joyful heart.  As I begin to address my Christmas cards to my real estate friends, I remember each one with appreciation and affection. As each one on you bought or sold a home with me, we often laughed and cried together and got to know each other well.  As the months went by in the selling or searching process, you were patient with me and trusted me, and I am grateful for your loyalty.  I remember your kindness even when the process was frustrating.  You are the reason I am a Realtor! I appreciate you!

– Kathleen Wheeler –

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October 2014

The current prices of homes that are selling and the cost of homes for sale are worlds apart in Saginaw!  Last month the average sold price of a Saginaw home was $139,530.  Fourteen homes sold for less than $140,000, but currently only three houses are actively listed for less than $140,000.

The Saginaw real estate market continues to have an incredibly low inventory of preowned homes, which are the homes that the average buyer can afford.  Eighteen preowned homes are for sale in the City of Saginaw, and seventeen newly constructed homes are on the market through our MLS.  Many of the new homes list for more than $200,000, and some cost more than $300,000. Only ten houses are selling for less than $170,000 in our city: last month only two homes sold for more than $170,000 through our MLS.  Of these sales one sold for $170,000 and the other was new construction with a sold price of $239,000.  The price of new construction listed in our MLS as of November 9, 2014, for the City of Saginaw ranged from $189,000 to $350,256.

The difference between the availability of homes and the financial ability of buyers to purchase makes this a great seller’s market for most homeowners.  If you are thinking of selling, call me today, and let’s talk about how I can make this market work for you!

– Kathleen Wheeler –

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Winter Sunbeams

The orientation of a home and the direction the rooms face is an incredibly important factor in your home’s energy consumption, your comfort and the general atmosphere of your home.  Many Texans prefer homes with north facing windows for energy conservation in the hot summer months, but homes facing north are darker and colder in the winter.

Do you know which homes will be the most popular during the winter?  The cheerful home with a southern or an eastern exposure where the sun smiles through a window is the best home of all.  Planting deciduous trees that block the light into these windows in the summer can reduce the summer heat.  The trees will lose their leaves and allow the sunshine to come in the house in the winter.   If you can’t plant trees, removable solar screens or awnings work well.  A variety of window coverings allow homeowners to adapt to the seasons’ heat and light.

If your home is on the market during the winter, open the drapes to show off your windows that face south and east, and be sure these windows are sparkling clean.  Even check the windowsills and areas around the windows for dust and cobwebs.  Remove items close to the windows that detract from the beauty and appeal of the windows. Have a vibrant house plant enjoying the winter sun near the south or east window.  House plants are especially attractive as the yards outside are brown and the trees have lost their leaves. Nothing is more delightful on a cold winter’s day than a home that is naturally light and cozy from the warmth of the sun!

What do you do if your home faces west?  In the hot Texas sun this is the most challenging orientation for us.  If you are building a home which will have the main living area facing west, plan on having a covered porch and planting at least one good shade tree in the backyard.  Be sure that your trees are planted as soon as possible so that they have time to grow to give you protection from the afternoon sun.  At the very least, install awnings or solar screens or use heat-blocking draperies.  These remedies are especially appropriate for reducing the heat in bedrooms, which need to be comfortably cool before nightfall but do not need to be especially bright and cheerful during the heat of the day.

Use the orientation information to help you choose your next home to meet your needs and personality.  My east facing formal dining room is full of glorious, happy house plants and a cat basking in the sun in the morning.  My north facing master bedroom stays relatively cool in the summer.  The kitchen and living room face west, but they are shaded by a covered porch and a large fruitless mulberry tree.

– Kathleen Wheeler –

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