Kerr County Real Estate May 4, 2017
Homes under $125,000 are still in extremely short supply and homes in this price range that will conform to a government loan are almost non existent. FHA, VA and USDA are government loans and while they allow buyers to leverage into home for little or no down payment they must also meet the government guidelines. Such as no chipped or peeling paint, wood rot, hand rails on raised porches etc…just to name a few of said guidelines.
Multiple offers on homes in our area are not very common but when they do occur they are often times in this price range. Unlike the big cities in Texas where it is a common occurrence.
Homes in the $125,000 to $200,000 are also under heavy pressure because this range is in our median price range for the area. It is definitely a sellers market in this range. Homes priced correctly in these price points go under contract very quickly. If you see a home in this range and it has been on the market over 60 days it is probably overpriced.
Inventory in the $200,000-$300,000 range is slightly more balanced. Sellers still have a slight advantage over buyers in this range but not as big as in the lower ranges.
Homes in the $300,000 to $400,000 area is balanced with an equal amount of supply vs demand.
In the $400,000 To $500,000 the balance of advantage swings to the buyer and it becomes even more pronounced the higher you go above $500,000. When you consider that your buyer pool is cut in half for every $100,000 you go up in price it is easy to see why.
Please feel free to contact me if you have any questions about the Kerr County Area! I will be glad to help you.
Steven Dye, Broker Owner
REALTY EXECUTIVES KERRVILLE