Kathleen's Blog

Saginaw, Texas, Residential Home Sales for April 2019

Twenty- seven homes sold in April with prices ranging from $168,000 to $348,000.  The average sales price was $227,743.   The average home sold for 99.11% of the list price, but this statistic does not account for seller paid closing costs for the buyer or price reductions.  Sellers are still receiving good prices, but buyers can expect some concessions, too.

The average time on the market was 28 days, but thirteen homes sold in less than two weeks.  Which homes took the longest to sell?  The three homes that are over 3000 square feet took 107 days, 166 days and 31 days to sell.  These numbers reflect the fact that in this market fewer buyers want to purchase a large home.  The trend is for current buyers to be Millennials or Baby Boomers competing for the smaller homes, especially the one stories.

To look at the sales statistics in more detail, let’s divide the Saginaw sold market into two parts using $220,000 as the division price.  This price is very close to the cost of the least expensive new construction in our area.  Homes that sold for less than $220,000 averaged 1595 square feet, were built between 1966 and 2003, and sold in an average of 17 days.  Only two homes sold in the oldest neighborhoods.

The Saginaw homes selling for more than $220,000 ranged in size from 1747 to 3938 square feet with an average of 2523 square feet.  Many of the homes are single story homes of about 2000 square feet.  The largest homes are in Highland Station and Heather Ridge.  The most expensive home sold is in Creekwood and sold for $348,000.  It is 2905 square feet.  These more costly homes were on the market for an average of 38 days as compared to the first group that sold in 17 days.

This is still a good market for both buying and selling.  Homes are selling at historically high prices. Many are selling quickly. Since fewer buyers are looking for homes than in the last couple of years, buyers will like being the only one making an offer and not having to compete with other buyers in a multiple offer situation.  Buyers can now often negotiate for seller concessions, such as closing costs and repairs.  Because of the low inventory, buyers may need to patiently wait for the home of their dreams to come on the market.  Please contact me so that I can set up a free, online search for you for that perfect home.  I can help you find new construction and assist you with the process of buying a home from a builder and assist you in choosing just the right builder for you.  I will facilitate your search for the perfect preexisting home and do everything possible to make the purchase easy for you.  When I list your home for sale, I work to sell your home for the highest price in the shortest time with the least amount of stress for you.   Please call me, text me or e-mail to learn how I can serve you.  There’s no obligation.

– Kathleen Wheeler –

March 2019 Saginaw, Texas, Home Sales

Twenty-three homes sold through multiple listing in March.  These statistics do not include new construction.  The median price was $200,000, and the average sales price was $202,720.  These prices are very similar to the sales in January of 2019.  Prices have not fluctuated this year.

The most expensive home sold for $280,000.  Two of the three highest sales prices were for homes in Willow Creek Addition last month.  Rancho North homes were three of the four least expensive, and one was in Saginaw North.  A home built in 1950 sold for $113,500, but all other homes sold for $165,000 or more.

Only eight homes sold in less than two weeks.  The average days on the market was 40 days.  The least expensive new construction in our area starts at about $216,000, and Saginaw homes that took twenty days or more to sell were those listed for more than $220,000.  The competition from new construction appears to directly effects prices and time on the market for these sales.

When sellers list their homes for the right price, they are still receiving nearly full price offers.  Homes sold for an average of 99.04% of list price.  These prices might be slightly deceptive because without multiple offers, some sellers are paying some buyer’s closing costs.  Buyers and sellers are both winning in this market as sellers sell for the high prices reflecting the recent appreciation of their homes, and buyers can purchase homes without the disappointment of many multiple offer situations when even a full priced offer wasn’t enough.

This is a great time to buy or sell!  If you would like more specific information or if I can help you in any way, please contact me.  I look forward to serving you!

– Kathleen Wheeler –

February 2019 Saginaw, Texas, Residential Home Sales

Saginaw homeowners sold 29 homes through the Multiple Listing Service in February of 2019.  Eleven homes sold for less than $200,000, and only one of these was on the market for more than two weeks.  In other words, homes in this price range are coming on the market, but they are selling so fast that a buyer must be aware of all new listings immediately and be ready to make an offer quickly.  Although the least expensive sale was in the Parks Addition for $130,000, all other homes were more than $175,000. The average price of a Saginaw home was $217,959.  The most expensive home was almost 3000 square feet and located in Creekwood. It sold for $315,000.

The average time on the market was 39 days.  I sold a beautiful home in the Dominion that was on the market for 202 days.  My clients lowered the price slightly after the first couple of months on the market, but they held out for the price they really wanted, and eventually the home sold for 97.97% of the list price.  The average home sold for 99.28 % of the list price.  The home selling for $130,000 sold for the lowest percentage of the list price, 92.92%.  Originally it was listed for $139,000.  This home was a gutted investment opportunity which would not qualify for regular FHA, VA or conventional loan.  Only occasionally are such homes that offer real flipping opportunities available in Saginaw.

If you are thinking of selling, now is the time to call, text or e-mail me.  Only fifteen homes are currently actively for sale in Saginaw for less than $250,000.  We have buyers who have been waiting for their dream home to come on the market, and we have new buyers beginning their home search as spring approaches.  If you contact me, I will give you more information about the market as it pertains to your neighborhood and your home, and I will tell you all about the listing and selling process.  With good information, you can make good choices.  I look forward to serving you.

– Kathleen Wheeler –

With home prices softening, some are concerned that we may be headed toward the next housing crash. However, it is important to remember that today’s market is quite different than the bubble market of twelve years ago.

Here are three key metrics that will explain why:
Home Prices
Mortgage Standards
Foreclosure Rates

HOME PRICES
A decade ago, home prices depreciated dramatically, losing about 29% of their value over a four-year period (2008-2011). Today, prices are not depreciating. The level of appreciation is just decelerating.

Home values are no longer appreciating annually at a rate of 6-7%. However, they have still increased by more than 4% over the last year. Of the 100 experts reached for the latest Home Price Expectation Survey, 94 said home values would continue to appreciate through 2019. It will just occur at a lower rate.

MORTGAGE STANDARDS
Many are concerned that lending institutions are again easing standards to a level that helped create the last housing bubble. However, there is proof that today’s standards are nowhere near as lenient as they were leading up to the crash.

The Urban Institute’s Housing Finance Policy Center issues a quarterly index which,

“…measures the percentage of home purchase loans that are likely to default—that is, go unpaid for more than 90 days past their due date. A lower HCAI indicates that lenders are unwilling to tolerate defaults and are imposing tighter lending standards, making it harder to get a loan. A higher HCAI indicates that lenders are willing to tolerate defaults and are taking more risks, making it easier to get a loan.”
Last month, their January Housing Credit Availability Index revealed:

“Significant space remains to safely expand the credit box. If the current default risk was doubled across all channels, risk would still be well within the pre-crisis standard of 12.5 percent from 2001 to 2003 for the whole mortgage market.”
FORECLOSURE INVENTORY
Within the last decade, distressed properties (foreclosures and short sales) made up 35% of all home sales. The Mortgage Bankers’ Association revealed just last week that:

“The percentage of loans in the foreclosure process at the end of the fourth quarter was 0.95 percent…This was the lowest foreclosure inventory rate since the first quarter of 1996.”
Bottom Line
After using these three key housing metrics to compare today’s market to that of the last decade, we can see that the two markets are nothing alike.  If you would like more information about our local market and how the national market might affect you, please contact me.  I’m here to help you with all of your real estate needs.

– Kathleen Wheeler –

Quiet January Real Estate Market for Saginaw, Texas

Individuals only sold fifteen houses in Saginaw in January.  The least expensive sale was a home on Franklin Street that sold for $125,000 and the most expensive was the one on Commonwealth Drive for $295,000.  The average sales price was $203,117 and the median price was $200,000, which does not represent much change from recent months.  Many of the houses that sold were older this month; the average year built was 1988.  Eight houses were built before 2000, and seven were built after 2000.

The average days on the market for Saginaw homes selling in January increased to 35 days.  Only four homes sold in less than two weeks.  What a radical change from a few months ago when many houses in Saginaw sold within the first two weeks!

Despite the longer time on the market, sellers are still receiving close to their list prices for their homes.  The lowest percentage of the sales price that a seller accepted was 90.20%, and the average sales price as a percentage of the list price was 98.07%.

If you are considering selling, this is a great time to sell with only 24 preowned homes actively for sale in Saginaw.  Buyers are waiting anxiously for more homes to come on the market so that they will have more choices.  My clients check the Multiple Listing Service via my e-mails every day and wait impatiently for the homes they desire.  You can take advantage of this market with so few competing homes for sale.  Please give me a call, text me or e-mail me for more information about the market and how I can serve you.

– 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 price

How 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 –