Written by Sherri Williams...

Establishing the correct price is not an exact science although, before pricing, it is important to know the following are guides for establishing prices:

Condition — Often, when people are buying, they want "new” yet they want to live in Travis Country because our neighborhood is “built out” with no room for more homes, therefore, they normally choose the next thing and find a home that is in top condition. It feels like a beauty contest and almost always the homes that have been given a facelift will sell faster and for much higher prices.  (If you went on the TC home tour this year, you saw some spectacular remodeled homes in our neighborhood, although these were remodeled to enjoy and not to sell, it’s still good to see the trends.)

Location — Travis Country is considered centrally located and still has a great country feel; it is a highly sought-after neighborhood in Austin. The greenbelt lots have been the most desirable, plus the lots that provide good landscaping and/or good privacy can also work very much in your favor.

Pricing/Comparables — As I have said before, people often think "price per square foot" is what establishes price.  And, although it should be a factor, pricing needs to be established after a careful look at the present market.

Supply & Demand — One of the last and most important things to look at are how many houses are available "for sale" that are most like your house.  If there are several, then the urgency or demand is not as great as it would be if there are just a couple or, even better, none.  The lack of supply often creates the bidding wars we have in today's market

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Timing — Historically, August and December are not a great time to sell in Texas although it depends on the present market, so, before selling (or not) make sure you look at the present market conditions.

It is important to understand all these factors, so call in a professional when you are ready to sell.  In the mean time, don't wait till it is time to move to give your home updated and/or a face lift.

As I have said before "History has proven that real estate is one of the best investments, so why not make the most of yours?"