Interest rates for a 30-year fixed rate mortgage climbed consistently throughout 2018 until the middle of November. After that point, rates returned to levels that we saw in August to close out the year at 4.55%, according to Freddie Mac’s Primary Mortgage Market Survey.
After the first week of 2019, rates have continued their downward trend. As Freddie Mac’s Chief Economist Sam Khater notes, this is great news for homebuyers. He states,
“Mortgage rates declined to start the new year with the 30-year fixed-rate mortgage dipping to 4.51 percent. Low mortgage rates combined with decelerating home price growth should get prospective homebuyers excited to buy.”
In some areas of the country, the combination of rising interest rates and rising home prices had made some first-time buyers push pause on their home searches. But with more inventory coming to market, continued price growth, and interest rates slowing, this is a great time to get back in the market!
According to the latest forecasts from Fannie Mae, the Mortgage Bankers Association, and the National Association of Realtors, mortgage rates will increase over the course of 2019, but not at the same pace they did in 2018. You can see the forecasts broken down by quarter below.
Even a small increase (or decrease) in interest rates can impact your monthly housing cost. If buying a home in 2019 is on your short list of goals to achieve, let’s get together to find out if you are able to today.
– Kathleen Wheeler –
December’s Saginaw Home Sales Were Like a Christmas Gift to
Buyers and Sellers
The thirty-one homes that sold in Saginaw in December were good news for both buyers and sellers. As multiple offers became less common, buyers were able to negotiate prices and ask for closing costs. Sellers paid their customary closing costs, and buyers were able to purchase a home without competing with several other potential buyers. Sellers received prices that reflected the steady appreciation for all of 2018, and the lack of inventory still brought eager buyers to sellers. The least expensive home sold for $155,000, which was $5100 over the list price. This home was built in 1955. The sales price for the most expensive home was $283,000. My statistics do not include new construction.
I am so excited about this new, more balanced market. After months of working with potential buyers who lost in bidding wars, this market gives me hope that I can again help families purchase their dream homes. Many sellers are also buyers, and the new, more balanced market will favor them as they purchase their new homes.
The most amazing news in December was the way that sellers paid closing costs for buyers who purchased homes for less than $210,000. Almost 60% of the sellers paid an average of $3141 in buyer’s closing costs. The closing costs paid by the seller ranged from $1000 to $7800. This closing cost assistance allows buyers to have bring less cash to closing. The sellers who paid closing costs for the buyers usually received at least a full list price offers for their homes; therefore, the sellers and buyers both benefitted.
Fourteen houses sold for more than $210,000. Ten of these had price reductions before they sold, and only one seller paid closing costs for the buyer. The prices were reduced either before the home sold as a price reduction shown in the MLS listing, or the lower price is reflected in the difference between the list price and the final sold price. When a home was listed for the correct price, sellers did well, receiving at least 97.83% of list price.
This is an excellent time to buy or sell a home! Please contact me to learn more about our market and how I can serve you.
The average days on the market was forty-one days. This average included eleven houses that sold in two weeks or less, and three homes that were on the market for more than a hundred days. The average days on the market is very deceiving because many homes sell immediately when they come on the market. Ofter a buyer is waiting for a home in a certain neighborhood or for an affordable price. Smart agents have these buyers on automatic searches that will notify the buyers immediately when these desirable homes hit MLS. The homes that were on the market for months may have needed a price reduction before they sold.
– Kathleen Wheeler –
If you purchased your home before 2019, and you live in your own home, you probably qualify for a Homestead Exemption on your property taxes. You can apply for your exemption from January 1 until April 30. You may call Tarrant County Appraisal District at 817-284-0024 or you may complete the Homestead Exemption application online on the TAD website. The website will also give you information about other property tax exemptions.
– Kathleen Wheeler –
Saginaw Home Sales Slow in November 2018
Excluding new construction, only 16 Saginaw homes were sold in November. This is the lowest number of homes sold since the end of the Recession. Few preowned homes sold because of the very low inventory of homes for sale for less than $250,000. For buyers who could afford a more expensive home, new construction is readily available in our area.
The sales statistics for November are similar to those of previous months when we look at days on the market and the average price. The average home sold in 28 days, and seven sold in less than two weeks. The average sold price was $215,278 with prices ranging from $161,000 to $263,500.
The average home sold for 99.29% of the list price. This average included three homes that sold for more than the list price. Let’s look at those: One was a home in Saginaw North that had been completely remodeled, and it truly sold for $10,500 above the list price. The other two homes were sold with VA loans, and one seller paid $6,500 in closing costs for the buyer and the other seller paid $4,500. The sales prices above the list prices reflect the buyers’ closing costs that were rolled into the sales price. These higher prices included closing costs, not multiple offers to raise the price for the seller.
Do you wonder which subdivisions had the most sales in November? Three homes sold in Saginaw North and in Willow Vista. Whisperwood, the Courts of Willow Creek, Highland Station and Parkwest each had two sales. Spring Creek and the Dominion only had one sale each, and many of our subdivisions had none.
If you are thinking about selling your home next year, this is a fine time to plan your strategy and make necessary repairs and updates. I can help! Let my experience work for you. Give me a call, text me or send me an e-mail. I would be delighted to answer any of your questions and to meet with you for a free consultation if you desire. I look forward to serving you!
– Kathleen Wheeler –
Saginaw, Texas, Home Sales for October 2018
Twenty-three homes sold through our multiple listing service in October. These were not new homes sold by builders. The average sold price was $219,102, and the sold prices ranged from $164,000 to $282,500.
The biggest news for October was the increase in time on the market for homes for sale. The average days on the market shot up from 29 days in September to 41 days in October. Only seven homes sold in two weeks or less. Six houses were on the market for two months or longer. One home took 107 days to sell.
The average home sold for 98.73% of the list price, and eleven homes sold for full price or more. This percentage has not changed in recent months, but some sellers have lowered their original prices significantly before they arrived at a price that would attract a buyer. Other very desirable homes sold quickly for full price because there are still buyers looking for homes in Saginaw. Some potential buyers have been looking for their perfect home for months. When I recently listed a lovely home in Saginaw, I received one offer almost immediately, but earlier in the year I would have expected about five offers in the first few days the home was on the market.
If you or your friends and family have been thinking of purchasing a new home, this could be a good time to buy whether you are considering new construction or an existing home. Many new builders have large inventories and reduced prices on many houses. I can help find just the right new home. With the slower market, sellers of existing homes might want to consider benefits to buyers that haven’t been available to buyers for many months, such as contracts contingent on the sale of the buyer’s current home, requests for closing costs and reduced prices. I would be delighted to give you more information about the current market and how it could be advantageous for you. Please call me, text me or e-mail me if I can help you in any way.
– Kathleen Wheeler –
Saginaw, Texas, Residential Real Estate Report for September, 2018
Only twenty preowned homes sold in Saginaw in September. Sellers competed in a market that’s very different than we had last spring. Children are back in school, and all the school employees have returned to work. The builders in our area are completing the homes they started months earlier, and now they have plenty of inventory on the ground for immediate purchase and quick move-in opportunities. These available new homes are often great bargains and serious competition for our sellers. Our Multiple Listing Service shows 188 newly constructed homes for sale by builders in the Eagle Mountain- Saginaw ISD currently. I think these homes are the reason the average home was on the market for 29 days, and MLS had no notification of multiple offers. When an agent has multiple offers on a property, she often will notify the agents through the MLS and give a date and time when she wants the final offers, but I didn’t see one of these announcements in the September sales. Only seven of the twenty homes sold in less than two weeks.
The average home sold for $206,500. The least expensive home was built in 1958 and was only 950 square feet. The sales price was $149,000. The most expensive home was $276,000. All other homes sold for less than $250,000.
In this more balanced market, six of the twenty homes had price reductions. Most of the price reductions were on two story homes. The final sales price still averaged 98.77 % of the list price, which shows that many good homes with fair prices still are receiving good offers. Eleven of twenty homes sold for full price or more, which indicates that the market was still good for sellers.
Closing costs paid for the buyers are another form of price reduction for the seller. The sellers paid more than $4000 in three home sales in September. Five sellers paid $1500 or less. These seller contributions could have been to cover repairs or for closing costs and prepaid mortgage expenses for the buyer. During our frantic spring market, these seller- paid closing costs were very unusual.
As we return to a more balanced real estate market, buyers have an opportunity to purchase a home without constantly needing to outbid another buyer. Buyers also have a chance to carefully consider a home purchase before making a quick offer. Buyers might again be able to negotiate with the seller to have the seller pay some of the buyer’s closing costs. Sellers should expect reasonable reductions from the list price. These changes will make the coming months an excellent time to purchase a home, especially with the huge inventory of new construction.
If you are wondering how these changes in the market will affect you and your plans, please contact me for a free consultation. If you would like a free, no obligation comparative market analysis, e-mail me with EZ Price in the subject line and your address, and I will e-mail you an up to date comparative market analysis.
Please tell all your friends and family about this great buyers’ market and have them to call me, text me or e-mail me so that I can help them take advantage of the great opportunities. I can contact builders to locate the home of their dreams and help them through the buying process, saving them time, money and energy. Of course, I can set up their special multiple listing search so that we find exactly what they want as it comes on the market. I look forward to serving you!
– Kathleen Wheeler –
August Sales for Saginaw, Texas, 2018
August sales reflected the end of the busy summer selling seasons as students, teachers and school personal settle in for the beginning of the new school year. Forty homes sold by individuals in Saginaw in August. The average time on the market was only 17 days. Twenty- seven homes sold in less than two weeks, but only three of these were homes listed for more than $230,000. When existing homes sell for about the same price as new construction, they generally take longer to sell.
The prices ranged from $129,000 for a home in Rancho North built in 1962 to a home in Creekwood that sold for $335,500. My report does not include new construction sold by builders because so many of the builders’ sales are not listed in our MLS, and the statistics would be incomplete. Three homes sold for $300,000 or more. Twenty-two homes sold for less than $200,000. The average home was listed for $210,105 and sold for $208,395, selling for 99.21% of the list price. This relationship between the list price and the sales price has stayed about the same for many months. About two-thirds of the homes listed for less than $200,000 sold for more than list price, which indicated that there were possibly multiple, competing offers, or the buyer’s agent believed there could be competing offers when the offer was submitted. Only three of the homes selling for more than $200,000 sold for 100% or more of list price.
Only ten of the forty houses that sold were 2000 square feet or larger. I thought this statistic was especially interesting since August would be the time when families might still be moving with children before the start of school. Many factors effect this trend, especially the price. The most expensive homes are generally the largest. The three homes that sold for more than $300,000 that are all more than 2000 square feet. New construction in our area gives buyers many choices in large, new homes that are more profitable for builders than smaller ones. Lower taxes and utilities, ease of maintenance and one story construction also make smaller homes more attractive in our market. The demographics of our population has young buyers wanting their first home competing with seniors wishing to downsize.
As we move forward into fall, the market appears to be changing. On September 6, 2018, forty-six homes were actively for sale through MLS. None was new construction. The average days on the market for these homes was forty-nine days. These represent many of the homes that didn’t sell last month. Only eight had come on the market during the last two weeks. I listed a very desirable home in Highland Station for slightly less than $200,000 and received a very good offer in less than a week, but I did not receive multiple offers. Earlier in the year I believe this home would have generated more excitement and competing offers.
What does this market shift mean for our buyers and sellers? Sellers should plan to allow a longer, more realistic time for their homes to sell, and homes will need to be in good condition and priced right to attract buyers. For buyers, this is a great time of the year to go house hunting with the lovely fall weather, and families often want to move before winter and the holidays. We still have a steady stream of new families moving into our vibrant community, so it can be a good time to be a seller, especially if you have a smaller, one story home to sell.
With less competing buyers, buyers will be able to choose homes more carefully, and sellers might be willing to negotiate If you have a friend or relative who gave up trying to purchase a home earlier in the year because of the fierce competition for homes, please have that buyer call me. Now might be the perfect time to find a home to purchase. If I can help you with buying, selling, preparing your home for sale, please call me, text me or e-mail me. I look forward to serving you!
– Kathleen Wheeler –
Saginaw Residential Sales for Existing Homes July 2018
Forty-one homes closed through our multiple listing service in July in Saginaw. Nine of those were new construction. Because I understand that many more new homes were sold that do not show up in our multiple listing statistics, I no longer include the new construction in my reports. The least expensive new home in Saginaw cost $251,896. When we look at the new homes sold through MLS in the Eagle-Mountain Saginaw ISD area, and not just Saginaw, 48 new homes were sold last month, and the prices were as low as $218,990, the price of a DR Horton Express Home.
Seventeen Saginaw houses sold for less than $200,000 in July, and only ten houses are currently for sale for less than $200,000. Twelve of the seventeen houses sold the first week they were on the market. Only one house was on the market for more than 10 days.
Some houses on the market for over $200,000 sold quickly, and some sold slowly depending upon what they offered the buyer. Three houses with inground swimming pools sold during this very hot month. The homes that were built in the last couple of years were popular and sold faster than older homes. The homes that were on the market the longest but finally sold were those between 2600 and 3100 square feet. Two of these took almost six months to sell. Large houses are harder to sell because new construction includes so many very large homes in our community, and so many buyers want smaller homes as they wish to downsize or purchase their first home. The average days on the market for all homes was 21 days, but this average is deceiving because it included the homes that took months to sell plus all the homes that sold in less than a week.
The MLS statistics show that sellers are still receiving an average of more than 100% of list price, another deceiving statistic. Of the homes sold for less than $225,000, twelve sold for more than the list price. This often reflected the competing multiple offers that a seller received. Only two homes in this price range sold for less than list price. When we look at the eight homes sold for more than $225,000. only half sold for the full list price. The other half accepted about 96% of the list price.
As of the start of August, Saginaw really has two real estate markets, one with homes listed above $220,000 with a growing inventory and a second, hot market for sellers of homes for sale for less than $200,000. Smaller, older, less expensive homes are still selling quickly with multiple offers, but more expensive homes are taking longer to sell, and sellers can expect price reductions if they list their homes for top dollar. August also is the end of the spring selling market, and the beginning of the fall market. Homes that receive a contract now will probably close in September, long after families have settled in for the new school year.
This might be a great time to sell, but then again, it might not be. If you would like a comparative market analysis for your home, a careful analysis of this market, or if I can help you in any way, please call me, text me or e-mail me. With more than twenty years of experience in Saginaw real estate, I am here to help you.
– Kathleen Wheeler –
Generally, the sales trends of the last few months continued in Saginaw in June, but one factor was different. As the number of newly constructed homes and more expensive preexisting homes were listed for sale, the days on market increased for homes over $210,000, the price of the least expensive new construction. Individual sellers sold seventeen homes ranging in price from $212,000 to $317,750 with an average of 31 days on the market. By contrast, 22 homes sold for between $165,000, the lowest price for a home sold in Saginaw in June, and $210,000. The average days on the market was only six days. The statistics for June do not include new construction because many of the sales of new homes are not reported through our Multiple Listing Service, such as homes that customers have built, and builders report sales later than the MLS sales. Buyers have various home choices with a budget over $210,000. If they wish to spend less in our Saginaw area, they will still find fierce competition for the best homes. These two graphs for the 76179 Zip Code area help show how the new construction affects the availability of homes for sale from $200,000 to $300,000.
Homes for sale by priceHow is the market different than one year ago? In June of 2017, an average home sold by an individual cost $188,370. Last month it cost $214,133. The average size of the house that sold in 2017 was 1870 square feet, but this June it was 1945 square feet. The average home that sold in 2017 was built in 1992 as compared to 1999 in June of 2018. Please check out my individual subdivision reports to show how each neighborhood has increased in value.
If you are interested in buying or selling, please call me. I would be delighted to meet with you and give you more details about how I can be of assistance to you. I look forward to serving you.
– Kathleen Wheeler –
In May of 2018, 43 homes were sold in Saginaw. Eleven of these were new construction sold through our Multiple Listing Service. The homes owned by individuals ranged in price from $160,000 to $315,000. The least expensive was in Saginaw North and the highest priced in Creekwood. The average home owned by an individual sold for $207,566. The average home sold for 100.32% of list price, a reflection of the fact that 25 of the 32 houses sold in less than two weeks. The average home was 1977 square feet and built in 1999.
– Kathleen Wheeler –
Saginaw Home Sales April 2018
Forty- five homes sold in Saginaw in April of 2018. The increased number of homes that sold included nine builder’s new homes. Despite the addition of the new construction, the average days on the market, the percentage of the list price as compared to the sales price, and the average sales price did not change much from what we have seen recently.
Houses are still selling quickly in Saginaw. The average days on the market is only 26 days with 25 of the homes selling in less than two weeks. Even the new construction sold within an average of 57 days.
The maximum price for a Saginaw house was $320,000 and the least expensive was $84,000. I was surprised to learn that the four most expensive homes were preowned and not new construction. All of these were built in 2015. The most expensive new home was $291,825 and the average price was $266,715. The least expensive was $239,585. Six houses sold for less than $150,000.
The average Saginaw home sold for 99.25% of the list price, and 17 houses sold for more than 100% of the list price. The competition continued to be very stiff for buyers looking for homes. A buyer needs to be ready to go look at a home the day it comes on the market. Agents and buyers must be available to run see houses immediately, and buyers must be ready to offer their best, strongest offer right after viewing the home.
Several builders sold new construction in Saginaw last month. DR Horton sold four newly constructed homes in the Basswood Crossing subdivision in the 76131 zip code area. Lillian sold three homes, Antares one, Cheldan two and Dazzling one. Buyers had many choices for new homes. The data for this blog was collected as of May 23, 2018. Even more new home sales are constantly being reported as the month of May progresses.
Please contact me if you would like more information about the market or if I can help you in any way.
– Kathleen Wheeler –
Thirty-two homes sold in the City of Saginaw during March 2018. The sales included new construction in the 76131 zip code area; one home sold for $271,060 and another for $305,000, the most expensive sale in town. My statistics only show homes sold through the Multiple Listing Service and not the many sales directly sold by builders. The five newly constructed and home and those built during the last three years sold for $260,000 or more.
The least expensive home sold for $125,000 and was built in 1965. Only three houses sold for less than $150,000. The average list price of a Saginaw home was $213,870, and the average sold price was $210,821. The average home that sold in Saginaw was built in 1998.
Homes sold for an average of 98.80% of the list price, a reflection of our low inventory. Eighteen buyers paid list price or more for their homes. The fact that many homes are selling close to list price is not a coincidence. Even if the original contract price is much higher than the list price, especially after negotiations where the seller has multiple offers, a lower appraisal will bring the final sales price back in line with a price that will allow the buyer to finance the property. If the selling agent listed the home at the proper price, the appraisal price and the list price should be close. When a buyer pays cash, these rules do not apply. A cash buyer in a multiple offer situation paid 105.71% of the list price for a home in Parkwest in March, which meant the house originally listed for $175,000 sold for $185,000.
Lovely homes priced below the cost of new construction sell quickly, and fixer-uppers and more expensive homes sell more slowly. The average time on the market was 34 days, but the median time on the market was 14 days. Twelve homes sold within the first week and 15 in less than two weeks. On the other hand, thirteen houses were on the market for a month or more.
Now is the time to plan seriously for two of the busiest home selling months of the year, May and June. If you are thinking about selling this spring or summer, please call me now to let me tell you how to take advantage of this incredible sellers’ market and how to prepare your home for selling. In this market with so little inventory, you may need to do less cosmetic work than you imagined, but you will need a plan for where to move when your house sells. I would be delighted to meet with you, give you a free comparative market analysis, and talk about your moving plans. Moving is often stressful, and one of my primary goals is to make the process as easy as possible for you. I’m here to help!
– Kathleen Wheeler –
Saginaw, Texas, Residential Real Estate Update for February 2018
Thirty- five homes sold in Saginaw in February, a very usual number of sales for a late winter month in our area. The most expensive home that sold in the City of Saginaw sold for $281,700. It was one of the two newly constructed homes built by Antares. The least expensive home sold last month was in Rancho North and sold for $132,000. The average sales price for a Saginaw home was $194,036. Fourteen homes sold for more than $200,000 and only five sold for $150,000 or less.
The average time on the market was 36 days. Seventeen homes sold in less than two weeks, and four homes were on the market more than 100 days. Surprisingly, twelve of the homes were built more than thirty years ago, and the average year built was 1992. Some of the older homes sold in a week or less, but others with significant repairs stayed on the market longer.
Homes continued to sell for list price if they were priced fairly. The average home sold for 99.88% of list price. Thirteen homes sold for list price or more. Buyers had difficulty finding bargains in this market.
February Saginaw sales followed the trends of recent months with no surprises. Low inventories continued to plague our Saginaw market. Please contact me if you would like more information about the market or if I can help you in any way.
– Kathleen Wheeler –
January 2018 Saginaw Home Sales Hit an Annual Low
January’s twenty-four sales represent the contracts written in December and through the holidays. January is typically the month of the year with the least home sales, and last month’s sales followed this trend. Three of the sales were new construction. I believe the recent harsh winter weather and flu season exacerbated the slow sales, and very low inventories continued to plague the market. Lately the multiple listing has typically only shown about ten homes actively for sale in Saginaw for less than $200,000.
The average home sold for $209,411 in January. The least expensive home was built in 1962 and is in Rancho North. It sold for $134,000. The most expensive home cost $438,000.
The average home sold for 99.03% of the list price. Eight homes sold for full list price or more. The lowest percentage of the list price that a seller accepted was 95.71%. This statistic is confusing because some sellers reduced their original prices drastically before they received acceptable offers.
The average time on the market increased to forty-seven days. Seven homes sold in less than two weeks, and they were all listed for less than $200,000. Seven homes were on the market more than sixty days. Two of the homes were new construction, but let’s analyze some reasons the preowned homes were on the market so long.
1. Foundation repairs needed to be made before a buyer could finance one home. Even conventional loans are hard to obtain for a home with foundation issues.
2. Three homes were significantly overpriced. One home went down $20,100 from the original list price, the second $10,565, and the third $10,000.
3. Taking the house off the market to make repairs while the house is for sale delays a sale. The carpet in the upstairs bedrooms was replaced in one listing, and then the house sold. Another home could not be shown while ceiling repairs were in progress. These sales would have progressed more smoothly if the repairs were made prior to listing the property for sale.
The slow month of January is past, and buyers are eagerly looking for homes again. This is the time to list your home or make plans to list it in the spring or summer. Please call me, text me or e-mail me for more information about buying or selling in Saginaw and let my twenty years experience in Saginaw work for you.
– Kathleen Wheeler –
Saginaw, Texas, Residential Real Estate Update
Despite the Holidays, the Saginaw real estate market kept rolling along at a brisk, steady pace. Thirty- six houses sold in December in Saginaw ranging in price from $70,000 to $314,500. The average sold price was $203,174. The $70,000 home is on Anderson Street and was built in 1935. The $314,500 home is a newly constructed MI Home in Creekwood. It was one of the six newly constructed homes that closed through our multiple listing service in December. Three of these were DR Horton homes, two were MI Homes, and one was a Silver Leaf home.
Houses continue to sell fast. Nineteen homes sold in two weeks or less. The average time on the market was thirty-five days, but this average time to sell includes new construction that often takes longer to sell.
The average sales price was 99.6% of the list price, but some houses did have price reductions before they were on the market at the price which would sell. Well kept, desirable houses selling for less than $200,000 often received multiple offers.
The start of the New Year is a perfect time to evaluate your housing dreams and needs. Maybe you would like to know about how the increase in local prices has raised the value of your home, or you want to learn more about the selling process. Possibly you are interested in a home in a different area. I would be delighted to meet with you and provide the information you need to make good plans and future decisions. In this Saginaw real estate market, most sellers can sell quickly and easily with a minimal amount of time and effort. Please contact me. I’m here to help. Let’s talk!
– Kathleen Wheeler –
Saginaw Homes Sales for November 2017
November had a typical fall market. Sales were still strong, but the market was not as frantic as in the past spring and summer. After closely checking the multiple listing records for the twenty- six homes that sold in November, I could only find two homes that sold with an indication of competing, multiple offers. One of these listings was for an “investor’s special” listed for $99,500. Last spring multiple offers were very common and often increased the final sales prices as buyers competed for the same properties.
Houses still sold for close to their list prices with the average home selling for 99.34% of list price, but some of the sellers had lowered their list prices before their homes sold. The price that sold the house was often not the original sales price for seven of the sellers, which indicates a slight cooling of the hot market we had last spring and summer. Houses that were too expensive were hard to sell in this market. The average sold price of a Saginaw home was down to $196,388.
The average days a house was on the market before selling was 36. Twelve houses sold in less than two weeks. The highest list price for a home that sold in 14 days or less was $189,900. This is almost the exact price of the least expensive new construction in our area. In Saginaw the more expensive homes generally take longer to sell than ones that cost less. The two newly constructed home were on the market the longest.
Four newly constructed homes sold through multiple listing. The new construction was in Saginaw Springs, Willow Vista Estates, and Spring Creek with the builders, DR Horton, Riverside, Silver Leaf and Lillian building in our communities.
– Kathleen Wheeler –
Average Sales Price for a Saginaw Home Tops $200,000!
It happened! In October the average list price for a Saginaw home went up to $201,274 and the sold price was $200,328. The median sold price was $191,000. The sold prices for Saginaw homes ranged from $140,000 to $400,000. Thirty-five homes sold in October, including four that were new construction. These numbers show the market continues to be vibrant despite the time of the year. The sold prices were an average of 99.71% of the list price which affirms the continuation of a robust seller’s market. No buyer purchased a home for less than 95% of the list price.
The average time on the market was thirty-one days for homes sold in October. Thirteen of the homes sold in less than two weeks. These homes which sold quickly were mostly the ones listed for less than $188,500. This price point is very close to the price of the least expensive new construction in our area, such as the DR Horton Express Homes built in Azle.
Please contact me for all your real estate needs and questions. Text me, call me or e-mail me. I have twenty years of experience in the Saginaw real estate market and live close enough to give you the personal, face to face service you deserve.
– Kathleen Wheeler –
Saginaw Home Sales Report for September 2017
Thirty-one homes sold in Saginaw in September, which is approximately the number of sales for recent months. Other indicators show a changing market. The relationship between the list price and the sold price decreased, and the days on the market increased.
In recent months buyers expected to pay the list price or more for a home, but in September the average home sold for 98.94% of the list price, and only eight of the homes sold for more than list price. The bidding wars were fewer even in the lower priced properties. If this trend continues, it will slow down the incredible appreciation that we have seen for homes in our area recently. Between the Great Recession and this time of limited inventory, homes were often selling at an average of about 95% of list price, and the market was more balanced. Buyers could more easily afford homes, and property taxes were lower.
The second important September trend was the longer time on the market. The median time on the market was 16 days, and the average time was 50 days. The fifty days included two newly constructed homes selling for over $300,000 and a home with legal entanglements that took months to solve. Although these homes were the exception, fourteen homes took more than three weeks to sell, which is a change from the frantic market of this spring when homes were selling more quickly.
Each month seems to have different subdivisions with the most sales. Heather Ridge was the highest in September with four sales, followed by Whisperwood Estates, Highland Station and Rancho North which each had three.
If you would like more information about selling your home or taking advantage of the new market, give me a call, send me a text message, or send me an e-mail. I’m here to serve you.
– Kathleen Wheeler –
Thirty-three homes sold in Saginaw in August of 2017. The average sales price of $197,747 moved upward toward $200,000. The lowest sales price was $115,000 and the highest was $327,990. Thirteen houses sold for more than $200,000. Six sold for less than $150,000.
Many of the August home sales were for homes in older neighborhoods. The average year built was 1997 and the median was the year 2000. Six homes were sold in Saginaw North, one of Saginaw’s oldest neighborhoods. The subdivision with the second highest number of sales was Highland Station where homes were built about twenty years ago. Only four newly constructed homes sold through the multiple listing service, which is evidence that many of our new neighborhoods are currently completed or homes sold directly from the builders. Some builders, such as McBee, plan to build more homes in the future in Saginaw.
The average size of the home sold in August was 1870 square feet, and ten homes with more than 2000 square feet were sold. Sales included two large homes with more than 300 square feet. One was new construction, but the other was built in 1999. The smallest home was built in 1969 with a mere 1172 square feet. This little house is in Rancho North.
Saginaw houses continued to sell quickly. Twenty- three homes sold in two weeks or less, and seventeen sold within a week. The average days on the market was twenty-two days, but this time includes the new construction which took longer to sell and a few outliers that sold slowly because of the home’s condition or the circumstances of the sale, such as going back on the market when a buyer’s financing fell through.
Buyers can expect to pay the list price for a home which is priced fairly. The average home sold for 100.38% of the list price. Two houses sold for more than $10,000 above their list prices. Both were originally priced at less than $160,000, a price point where the competition is steep. Thirteen homes sold for the exact list price, and five more for slightly more than list price. Seven buyers paid less than the list price, and discounts were more common in prices over $200,000. The minimum price was 95.19% of the list price.
– Kathleen Wheeler –
Thirty-Five houses sold in Saginaw in July of 2017. An interesting trend was the number of older homes that were remodeled and sold as sellers took advantage of the higher prices in our neighborhoods. Six of the 35 homes were built before 1980, and fifteen were built before the year 2000. The oldest home was on Worthy Street, which was built in 1959. The average year built for a home sold in July was 1997 and the median year built was 2001.
Only one home that sold was new construction. Two factors contribute to the limited number of new homes sold, including the way that many buyers purchase new construction directly from the builder and not through the multiple listing and the fact that several of the new home neighborhoods in Saginaw no longer have lots for sale. Even though the model homes for Antares, Riverside Homes and Lillian Homes may still be in Saginaw, the new construction is in areas close to us in Fort Worth.
The average sold price for a Saginaw home was $192,050. This average, hypothetical house was built in 1997 and is 1997 square feet. It sold for $99.85 per square foot. It sold at 100.27% of list price. Twenty -five of the third-five sales had full price offers or prices above the list price.
Eight houses sold in three days or less. Buyers viewed the houses immediately as they hit the market, usually within the first few hours, and rushed to submit good offers. The only way to have an opportunity to purchase a home in this frantic market is to be set up with an agent who is sending you new listings as they come on the market. Our multiple listing service allows us to automatically notify potential buyers of new listings minutes after a listing is entered into the system. I can set you up with such a special search. If possible, we will view the home the first day it comes on the market. I can also help you if you are interested in selling. These sales statistics show that we still have plenty of buyers in our market. Please call me, text me or e-mail me if you would like a free market analysis or advice on selling your home. I’m here to help you!
– Kathleen Wheeler –
June 2017 was an active month for Saginaw home sales as homeowners took advantage of the recent appreciation in our area and investors cashed out their equity. The average home sold for $188,370. This average home was 1870 square feet and was built in 1992. These statistics for the average home reflect the sales of large, expensive newly constructed homes, but the median price of $176.500, size of 1663 square feet and year built of 1998 reflect the number of older homes sold last month. June is often the best month of the year for home sales, and sellers took advantage of the selling season. Buyers paid at least $160,000 for houses built after 1980.
Three newly constructed homes were sold, one in the Dominion, one in Creekwood and one in Saginaw Springs. Of course, these numbers only reflect the new construction sold through agents and our multiple listing service, not homes sold directly by the builders. These homes had been on the market for from 118 to 259 days. The sales prices for these homes ranged from $305,000 to $339,000 for homes 2384 square feet to 3160 square feet.
Last month the trend was the sales of homes in our established neighborhoods. Five homes sold in Rancho North with price ranges of $136,000 to $159,000. Seven sold in Saginaw North with prices from $65,000 to $154,900. Sellers of these homes were purchasing newer, bigger homes or moving away from the area or were investors selling to take advantage of the recent home appreciation. Highland Station had five sales with an average price of $176,550, and one amazing sale of $318,000 for a home built in 2000. This home on Topeka Drive featured an inground pool plus 4176 square feet. It sold in six days at above list price. By contrast only two homes sold in Heather Ridge, a newer subdivision in 76131. Excluding new construction, only three homes built in the last ten years were sold.
The average buyer paid the list price for a Saginaw home last month. As sellers continued to receive multiple offers, the prices would have been even higher if the bank appraisals had not reduced the contract sales prices for some homes before closing. Twenty homes sold for more than the list price, and six homes sold for 100% of list price. When sellers had well kept, move-in ready homes, they sold quickly for list price or more. A buyer might find a fixer upper with a seller who will accept a lower price than list price, but buyers should not expect to have low offers accepted by Saginaw sellers. If the house is in good enough condition for the home to qualify for a loan, the seller probably does not need to negotiate the price very much. Other than new construction sales, only four homes sold for less than 95% of list price. One of these was my listing at 1129 Dennis where the bank appraisal reduced the final sales price.
How long did homes stay on the market in Saginaw in June? The median days on the market was five days, and the average was 25 days. The difference in these statistics reflects the speed of sales of homes that are less than $200,000 and the expensive new construction. The days on the market increases as home prices compete with new construction, which start at about $200,000 in neighboring areas of Fort Worth. Thirty- three existing homes sold in less than two weeks. Only four homes that were not new construction were on the market more than two weeks. The new home on Mangrove Trail was on the market for 259 days.
If you are thinking of selling, contact me before the busy summer real estate season ends. Call me, e-mail me or send me a text message requesting an updated, free comparative market analysis for your home. Let’s meet, and I will explain how you can take advantage of this incredible market and my marketing skills and experience. If you are considering buying a home in our area, I can set up a special, online search for you that sends you information about new listings within minutes of when they go on the market. We can schedule a showing immediately. I look forward to serving you.
– Kathleen Wheeler –
I sold 961 Fenway Lane in 3 days for $6000 above list price.
The market continued to be exceptionally good for sellers. In May 2017, 38 homes sold in Saginaw. Three were new construction. The sold prices ranged from $90,000 for a cash sale for an older home in Rancho North to $399,000 for new construction in Creekwood. The average days on the market for these homes was 18 days, but one home was on the market 208 days and some homes sold the day they were listed. Twenty- six homes sold in a week or less. Most homes sold for the list price or more, although nine homes sold for less than list price. The average home sold for 99.60% of the list price.
When homes are selling so quickly in Saginaw, potential buyers, sellers and agents might be wondering how buyers are financing their new homes. Of the 35 homes that sold last month, nineteen sold with conventional loans, eight sold with a VA loan, four sold for cash, one sold through a special bond program and three sold with FHA financing.
I carefully analyzed the sold listings looking for indications that the sellers had received multiple offers. Apparently ten listings received multiple offers, and the sellers wished to ask for the “highest and best offer”. Of course, sellers may choose to accept or negotiate one good offer even if they receive several offers; therefore, more than ten sellers may have received multiple offers on their homes. Because homes are selling so quickly, buyers should make their first offer their highest offer if they really like a home, especially if the house just came on the market.
If you would like more detailed information about sales trends in your neighborhood or your plan to buy and sell, please contact me for a free consultation. I look forward to serving you!
– Kathleen Wheeler –
1044 West Hills Terrace sold for 105% of list price in three days!
The trends for Saginaw April home sales continued with new construction, low inventory for less expensive homes, rapid sales and higher dominating the market. Of the thirty-eight homes sold ten were new construction. These homes sold in the subdivisions of Spring Creek and Creekwood in 76131 and Saginaw Springs, the Dominion and Willow Vista in 76179. The least expensive newly construction home was in Spring Springs and sold for $214,290. The most expensive new home sold in Creekwood for $309,900.
Buyers competed fiercely for the less expensive homes. Only three homes sold for less than $150,000. All were in the Rancho North subdivision and were built in the 1960’s. The competition has driven the prices up for many homes. If the purchase involved a mortgage, the appraisal could limit the sales price, but often buyers agreed to pay more than the appraised price. The potential for a low appraisal makes sellers favor cash offers and offers with large down payments. In this environment of ever higher prices, some transactions will fail, including extremely high offers without comparable sales to back-up the contract sales price or available cash from the buyer for the difference between the appraised price and contract sales price.
Homes continued to sell quickly. The average days on the market was 29 for all homes, but homes owned by individuals sold faster than new construction. Of the twenty- seven homes sold by individuals, 14 sold in a week or less, and the average time on the market was eleven days. New construction averaged 79 days on the market. Newly built homes often sell more slowly because they generally are more expensive than preexisting homes, and they include the homes that builders are using as model homes.
The statistics for the percentage of the sold price compared to the list price in April were interesting. My listing at 1044 West Hills Terrace was listed for $149,900, but my sellers sold the home for $157,500, which is 105.07% of the list price, the highest percentage above the list price among the April sales for homes sold by individuals. By having an open house and aggressively advertising my property, I received strong, competing offers for my sellers. The home that sold for the greatest discounted needed repairs, and the seller received accepted $19,000 off the list price and accepted a cash offer. The average percentage of list price to sold price was 99.50% for homes sold by individuals, and sixteen of the twenty-seven sellers sold for at least their list price. The prices for new construction were even less negotiable. Only the home on Mangrove Trail that had been on the market for 197 days was sold at a discount. The other nine new homes sold for their list prices. The one HUD foreclosure, a four bedroom in Parkwest, was listed for $137,000 but sold for $160,000.
April was a wonderful time for Saginaw homeowners with amazing selling opportunities because homes were selling quickly at historically good prices. Now might be a good time for you to sell your home. Please call me, text me or send me an e-mail, and let’s talk about how I can help you.
– Kathleen Wheeler –
