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10 Tips for Selling Texas Acreage

Selling Texas Acreage

Selling Texas AcreageIt is important to take a number of factors into consideration when considering selling Texas acreage properties.

Tip #1: Research

Do some research on the best ways for advertising and selling Texas acreage properties. Are all of the properties advertised in the MLS, or is there another listing service that most of the properties are listed in.

Tip #2: Presentation

Often investors are looking for a home so emphasize the house when marketing Texas acreage listings. Ensure that the home is clean, well presented, properly maintained, clutter-free and depersonalized before listing. Any money spent doing this should be seen as an investment as it will help gain a speedy sale at a better price.

Tip #3: Property Lines

All property lines should be clearly marked and all border fencing should be properly maintained. Potential buyers will need to be clear as to exactly what the agent selling Texas acreage is offering for sale.

Tip #4: Law

Make sure that all applicable bylaws that could influence selling Texas acreage is known. Both buyer and purchaser should fully understand any laws that may influence the purchase.

Tip #5: Advertising

Make use of the wide range of free services available online when selling Texas acreage. Sellers using agents can ensure that the agent makes good use of the internet so that the property can be seen by viewers living around the world. A great listing on Multiple Listing Services (MLS) can draw potential buyers to a property and should is great for marketing Texas acreage.

Tip #6: Water Supply

If the land has a water supply, have a chemical test done and provide potential buyers with the results. Sellers who can demonstrate knowledge of water flow rates, the age of the well and quality of the supply will have an edge over those who don’t when selling Texas acreage properties.

Tip #7: Local Knowledge

Be prepared to provide information on everything from local road quality to available amenities and services when selling your Texas acreage. This may not always be necessary but it is better to be prepared.

Tip #8: Investment Potential

Offer good reasons why a potential purchaser might want to buy in Texas. Land and property prices in Texas continue to increase and this could offer buyers considerable investment opportunity. Make sure they are aware of this when listing or marketing Texas acreage properties.

Tip #9: Land Surveys

Before embarking on selling Texas acreage, it’s wise to have a land survey conducted. This will ensure buyers know exactly what they are buying and prevent any legal issues later on. Hire a professional to survey the land and register it with the relevant authority.

Tip #10: Social Media

Consider using social media and Google Maps when selling Texas acreage. This will ensure that viewers can find the land if it’s out of the way and will further promote the land.

It’s important to consider all of these factors when selling Texas acreage properties. It is wise to work with professional real estate agents and ensure that they are fully equipped to answer any questions that may arise when dealing with potential purchasers.

What is going on with Texas Foreclosures?

Texas Foreclosures

Texas ForeclosuresIn layman’s terms, foreclosure is the act of legally terminating a mortgage. Texas Foreclosures are filed when a homeowner fails to keep up with payments on his or her mortgage. In this day and age, this is a common occurrence. The current economic situation in the U.S. has affected the ability of loan holders to maintain their schedule of payments, which directly influences the Texas real estate foreclosure rate.

Foreclosure Basics

Real estate is often purchased through means of a loan, which is borrowed money; this borrowed money is often provided by a bank or loan company. The money is granted to the owner of the property by the financial institution. Until the loan is repaid, the financial institution has the legal power to claim ownership of the property listed on the loan documents. If payments, which include monthly installments and property taxes, aren’t made by the person(s) to whom the loan was given, the financial institution has the legal right to foreclose on the property.

Recent Trends in Metropolitan Areas

Although the business of real estate is unpredictable, various trends can be seen throughout the Texas housing market as it relates to foreclosure. One such trend that is quite alarming is the increase in the Texas foreclosures rate in some of the state’s largest cities. Cities such as Dallas and Austin showed a significant increase in the texas foreclosure rate in the last half of 2010. The Dallas-Fort Worth area showed a 25.36% increase in foreclosure rate from that of 2009. In Austin alone, the foreclosure rate rose 7.5% in the first quarter of 2011; meaning nearly 1 in 200 homes were foreclosed upon.

Recent Trends in Rural Areas

The increase in the foreclosure rates in large cities, when paired with the trend seen in small cities and rural areas, gives the Texas foreclosure rate some stability. While the larger cities have shown a recent increase, rural areas have shown a significant decrease in foreclosure rate. When the statistics of both metropolitan and rural foreclosure rates are added together, the real estate market in Texas is shown to be improving, which is something that can’t be said for most states in the US.

Texas vs. Other States

Texas is the second-largest state in the U.S., behind only Alaska in land size. In 2010, more than 25 million people were registered as citizens of Texas in the official census. Nearly 90% of Texans live in a metropolitan area. In other words, many residents of Texas live in or near a big city. Although the heavily populated larger cities in Texas are showing an increase in foreclosure rate, the overall Texas foreclosures rate is among the lowest in the nation. (Arizona, California, and Nevada have the highest foreclosure rates in the U.S.)

Although the current market trends show improvement in the Texas foreclosures rate, this may not last long. The real estate market is constantly changing, and, along with it, so will the Texas foreclosures rates.

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