There’s no denying that selling your house can be a stressful decision. Many factors may have led you to this point. You might be ready for something bigger or need something smaller. You might have an amazing new job in an amazing new city. If it’s a question of sizing up or sizing down, you won’t be pressured to sell within a set amount of time. On the other hand, if you need to start your new job in three months, the pressure will be on to sell as quickly as possible. Knowing how to navigate the ins and outs of the real estate market takes a little ingenuity, but with the right resources – including a competent real estate agent – you’re sure to be looking at a “SOLD” sign in your front yard before too long.

Timing Is Everything

Well, timing may not be everything, but it’s important. If you’re not pressured to sell your house quickly, consider yourself lucky. Feel free to skip ahead to the next section. If, on the other hand, you’re faced with a pressing situation, like a new job that requires you to relocate, you’ll need to act quickly and efficiently to get the ball rolling.

As soon as you even suspect that a transfer or relocation may be possible, get in touch with a real estate agent and hammer out details like what a reasonable asking price might be. If the relocation does, indeed, happen, you’ll be that much further along in the process, and listing your house will just mean filling out some paperwork and keeping the place picked up for showings.

As a new employee about to relocate, you’re well within your right to contact your new employer to request a deferment of your start date by a few months. If your new job is set to start in the middle of the winter, for example, you’d be much better off waiting a few months to relocate to try to sell your home when the real estate market is at its peak in the warmer months.

Wait for the Warm Months

People buy houses when it’s nice out, not when there’s snow and ice on the ground. Showing a house with a lush, green front yard and trees full of leaves is a boon to real estate agents everywhere. When the sun is shining and the grass is green, potential buyers have an easier time imagining their new life in the house.

There’s no getting around the fact that winter is a terrible time to put your house up for sale. Viewers will traipse in and out with slush covered boots, the trees are bare, and everything is gray and overcast. If you can wait for the warmer months, you absolutely should. Also, potential buyers are much more open to discussing how much things like property taxes, home insurance policies, and general upkeep will cost them when they can hear birds chirping and brooks babbling.

A Special Note About the Current Real Estate Market

If you can avoid selling your house right now, you should. With property values at record lows, the current market is nowhere close to being in the seller’s favor. Upside-down mortgages (when the balance of the mortgage exceeds the value of the property), short sales (when a seller is forced to sell the house for less than the balance of the mortgage), and foreclosures are an increasing reality. Buyers certainly have the upper hand in the current real estate market, and can make demands that, even just four or five years ago, would have been considered insulting to the seller.

This doesn’t mean that all hope is lost, though. If you still decide that you want to sell your home, prepare yourself to be patient, and hold off listing until the weather and time of year are on your side. Needless to say, the best time to sell is when you can, at the very least, recoup your initial investment on the property. Give yourself as much time as possible, which will prove to be the most important factor to selling successfully.

The town of Albert, Texas is for sale on eBay –current price listed at $50,100.  An investment project?

-Edit- The ending price of the auction was $52,100.00, and it had 24 bidders.

I received my property tax receipt yesterday along with a note:

Just a reminder that this parcel is delinquent for 2006.

WHAT! I’ve always thought that I was on top of all our bills. The key here, though, is BILLS. I didn’t actually get a bill for this property last year when I received all of the other tax bills. If I don’t have a bill for something, how can I know to pay it?

We bought the property last year, and the bill was sent to the previous owner. Now most local folks would probably forward tax bills to the new owners because that’s what us good guys do. But we bought the property as a foreclosure. The maga-bank who sold the property doesn’t waste time with details like, I don’t know, TAXES. They just tossed the paperwork.

Now I owe $75 in interest, and state law absolutely positively does not waive payments. Unless you’re the governor, I think. On one hand, I’m really frustrated. I would have paid those taxes one year ago. Where was the title company lady’s obsessive highlighter on the line item TAXES?

But on the other hand, I’m also thankful that one of the Treasurer’s secretaries took the time to write me a note. Otherwise, I NEVER would have known until the horrible day when I would receive this deadly note:

Your property’s up for auction due to dilenquent taxes.

Seriously, you only get one notice of taxes each year, and you only get one warning that you’re about to lose your property for unpaid taxes. Wouldn’t you think that maybe, just maybe, this year’s tax bill would have included a mention of unpaid taxes from the past?

So I’m writing a huge check right now and hand-delivering since 2007 taxes are due TODAY, and fees gets jacked up a notch tomorrow for late payments like mine. Thank goodness I mailed my taxes early this month and was warned! And even more thankfully, I’m glad property tax payments don’t make it to credit scores.

Picking a piece of property to build on is a hard task. A few pointers my husband and I have compiled that we think are important in the hunt are:

1. Talk to the Planning Department about zoning ordinances, and get a copy of the zoning ordinances

2. Examine the access roads if you’re heading toward the country. Can you get through in the winter? Do creeks need bridging? Landslide potentials or possible trees that might tip? Oh and who OWNS the access roads?

3. Look at surveys and topography maps. Get a survey.

4. Research utilities. This is the biggie. Internet access? What about power? The line itself costs upward of $6-$10/ft. Then you have to burry it. What about water? Is a well feasible? And sewer/septic. That’s a fun one. These issues are so huge in price that it can make the difference between a good investment and a horrible burden.

5. Check for existing easements* (like access roads, power lines, mining rights, etc.)

6. Look for any liens–voluntary and involuntary

7. Any restrictions placed by previous owners that are on record? (Like “thou shall not build a house here ever”)

8. Who holds subsurface/mineral rights? Check for timber and hunting rights, too.

9. How close are you to large operations like airports, slaughter houses, chemical plants, active mines, and polluted/superfund sites? These things can have a huge impact on the enjoyment of your property. If you’re really lucky, an aerial flight in a small plane or helicopter can show you everything you need to see. Otherwise, check out aerial photos.

*An encumbrance is any right or interest in land that is possessed by a person who doesn’t hold title to the land. These rights can lower the value of the owner’s estate, so you want to check on them. Lucky for us, this task is typically pretty easy; the title company does the labor. An encumbrance doesn’t prevent you from enjoyment of your property or the ability to transfer it.

Good luck with your hunt. Or in most cases right now, good luck with the dream!

A lot of people love satelite TV, and I can understand why. What I can’t understand, though, is justifying such an expense every month.

I was looking at a row of houses built by Habitat for Humanity and started wondering. I’m not here to make judgment calls about these people’s habits, but I plugged in some numbers you and your friends might want to think twice about.

If you paid an additional $50 toward your mortgage every month, a thirty year mortgage could be paid off in 24 years! (I assumed a 7% interest rate, which is higher than you want for your own home.) 24 years!

Think about what a few extra bucks each month could do to any loan. Interest is a powerful thing, especially when it works to your advantage. Know of any other powerful examples?

(NOTE that some lenders don’t allow prepayments without penalty, so read the fine lines of the contracts you have signed.)

The National Realtors Association keeps an up-to-date database of recommended books on real estate and personal finance. Check out their Weekly Book Scan for some good reads, many of which you may never have heard of before.