We currently have our home listed in Conroe - approaching 60 days.

We started with an ambitious price and have had many showings but no offers. We are getting ready to drop the price a second time, and I'm going through the mental exercise of selling for equity vs. holding and waiting for rates to drop/market to improve.

We don't need to sell but for various reasons other than budget, decided to take a crack at it this summer.

Hoping someone on here smarter than me re: housing/market projections can provide some wisdom.

TIA!

Developer here...

Interest rates should drop by at least a quarter in August/September and at least another quarter before the end of the year. That'll certainly entice potential buyers currently tepid about making their moves, bring inventory down and stabilizing, if not increasing single family property values. So hpld on if you have staying power.

Builders, on the other hand, those guys are all about cash flow, so they need to move units no matter what. They'll make up the discounts of today with price hikes tomorrow as thier projects mature.

It's actually good business to reserbe new homes now, go through the construction process, and sell off the units at a higher price when interest rates have drop (depending on the maturity & inventory level of each project/developer/builder and provided the developer has a finite quantity of units soon to run out.

Conroe_Ag_8 said:

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We currently have our home listed in Conroe - approaching 60 days.

We started with an ambitious price and have had many showings but no offers. We are getting ready to drop the price a second time, and I'm going through the mental exercise of selling for equity vs. holding and waiting for rates to drop/market to improve.

We don't need to sell but for various reasons other than budget, decided to take a crack at it this summer.

Hoping someone on here smarter than me re: housing/market projections can provide some wisdom.

TIA!

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Are you getting feedback from the real estate agents for those that came for the showings? They can offer broad feedback on what their clients liked or did not like about the home. However, ultimately everything comes down to being priced right.

Heineken-Ashi said:

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while the resale market still thinks its 2021.

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Yup.

Not saying anything about holding or selling, but the market is different than it has been.

I'm with you...we're in the Prosper/Celina area and our house has been on the market now for 52 days. We've had decent flow in showings, and multiple open houses led to quite a few couples to walking through, just nothing over the finish line.

The catch for us is we purchased a home before we listed our house and currently have a Bridge Loan, that payment is due on 8/1 (interest only). Hindsight we would have done this differently, but there was a lot of confidence we could move our current house quickly by both our lender and realtor. We actually had an offer within 2 weeks for listing, but they pulled it right before earnest money was due. We are very dependent on the equity of our house, so not considering leasing.

After every showing, the realtor/buyer fills out a quick survey and all have indicated our pricing is good. Unfortunately, at this point we are having to decide to either wait it out and eat the 8/1 interest only bridge loan payment, or get aggressive in dropping our sale price.

PeekingDuck said:

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If the pricing was good, the house would have sold. Realtors and sellers are out of touch at the moment, imo. Not significantly, but slightly. Especially if there are comparable houses to be found. Waterfront seems to be somewhat of a different story, but folks are misreading their value there even still.

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yep. I have a real estate license that I primarily use for me and my family/friends when needed (rentals, etc.). But I look at homes all around almost daily and the market is soft and has definitely changed quite a bit over the last year...hell, even over the last 3-4 months in our immediate area (Clear Lake area south Houston). I've seen about a 5-10% drop in home values in our area in a pretty short amount of time!

Make sure house is as sharp as possible

Neutral color walls, and clean clean floors

I would spend 2-3k on remodeling any eye sores


Power wash the drive way and sidewalks make landscape clean and not overgrown


Paint garage
Put in new bath shower clear doors and not plastic shower curtains

TxAG#2011 said:

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Personally I think the significant amount of people hoping interest rates are going to jump start the market will be sorely disappointed.

Most people that could afford to buy did so already and the rest of everyone else has just been getting washed on inflation ever since. A 50bps drop in interest rate isn't going to make any difference at all when the carrying house of a house has literally doubled through value increase, tax increase, insurance increase, and just standard maintenance inflation.

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Yup.