No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Wednesday, October 8, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Financial Planning Personal Finance

I’m a Real Estate Writer Who Sold a House in a Buyer’s Market. Here’s What I Learned

by TheAdviserMagazine
4 weeks ago
in Personal Finance
Reading Time: 7 mins read
A A
I’m a Real Estate Writer Who Sold a House in a Buyer’s Market. Here’s What I Learned
Share on FacebookShare on TwitterShare on LInkedIn


A Hemingway character was asked how he went bankrupt. “Two ways,” he replied: “Gradually, then suddenly.” That’s a fine description of how I sold a house in a buyer’s market this summer.

How it happened gradually: I inherited the house in October 2021, fixed it up bit by bit, and finally listed it for sale in June 2025.

How it happened suddenly: The house sold in 18 days.

So how did I manage that? First, some context: The house is in a desirable location on the west side of Fort Worth. Mom bought it when I was a high school sophomore, and she lived alone for decades after I left for college.

Now I live in South Florida. For years, I considered selling my Florida house and moving into the Fort Worth house. I made upgrades and repairs, but ultimately my wife and I decided not to move to Cowtown. I reluctantly said adios to El Tacorriendo (my favorite food truck) and Billy Bob’s (the legendary honky tonk), and listed the house for sale.

I didn’t expect to sell it in less than three weeks. Metroplex homes usually linger longer — a typical July sale took 53 days. The analysts at Realtor.com call it a balanced market, but it feels like a buyer’s market to me.

And yes, luck was a big factor in selling so quickly. That said, let me tell you what I did right and what I would do differently.

I interviewed three agents

I wanted to hire a real estate agent who had represented sellers and buyers in the neighborhood — someone I’d feel comfortable with, who also had years of experience. I interviewed three, asking, among other things, what improvements I should make to the house. I wanted an agent who would answer forthrightly instead of telling me what I wanted to hear.

I hired the agent who had the strongest background. She specialized in my neighborhood and had the brisk demeanor of a C-suite corporate executive who wants to sell efficiently.

What I did right: I chose an experienced, perceptive agent. She knew to be blunt with me and tactful with my wife, which was a sign that she would adopt the proper tone when talking with buyers and their agents.

And she priced the house right.

I shelled out for some updates

My $350,000 asking price was low for the neighborhood. There’s a good reason: Mom had Alzheimer’s, so the house suffered from some deferred maintenance. It took a full five minutes to get hot water from the kitchen tap, and the walls reeked of cigarette smoke.

On the outside, the hail-damaged roof needed replacement, the 75-year-old casement windows were caulked shut, and the siding consisted of unsightly, brown-painted cedar shingles.

Ah, those shingles. I remember catching a ride home from high school one day. As my friend pulled up to my place, someone in the backseat shrieked, “Look at that ugly brown house!” When I sold the house 46 years later, it still wore the same brown shingles…and I still felt kinda mortified.

Renovations I did and didn’t do

But my time and money were limited. I could spend them making the exterior look great, or I could prioritize making the interior function well. So I fixed up the interior — because what’s the use of having a house that’s pretty on the outside, if you have to wait forever to get hot water at the kitchen sink?

Overall, I paid more than $60,000 to upgrade the electrical, plumbing, and HVAC systems, replace the roof, and repaint the interior (to eliminate the cigarette smell). By leaving the exterior mostly as-is, I let the buyer choose their own siding and windows.

What I did right: I focused on updating major systems and completed only must-do interior work. The buyer wanted to spend their money refining the aesthetics, not replacing the A/C.

I kept my cool

To reassure potential buyers, I made a spreadsheet of renovations, how much they cost, and when they were done. However, there was sometimes a gap between the date of a contractor’s initial estimate and the date work was completed — and the buyer used this information to strong-arm me.

“It is clear to see that these repairs dates are incongruent to your marketing materials and seller’s disclosure making them obsolete,” the buyer’s agent emailed after the inspection. “Furthermore, this would be considered Deceptive Marketing Practices.” They reduced their offer by $33,000. I felt furious one second, and panicked the next. Would this sale go through?

My impulse was to teach them a lesson and insist on the price we had agreed to. That afternoon, I floated in my Florida pool while angrily mimicking Michael Corleone saying, “My offer is this: Nothing.”

But then I reminded myself that this was my only offer. I had paid attention to stats from Realtor.com, the Case-Shiller price indexes, and my agent — I knew home prices in Fort Worth were falling while inventory was rising. I made a counteroffer for $326,000, the lowest price I would have accepted. The buyer took it.

What I did wrong: Being specific about dates and dollar amounts of renovations opened up another round of negotiation that I didn’t want. I would have been better off providing general information about the upgrades.

And I didn’t recognize the accusatory email and lower offer as a hardball negotiation tactic. That was the judgment of my attorney, which brings me to the last thing I did right.

I hired an attorney

Candidly, that agent’s email wigged me out. I forwarded it to the lawyer who had represented me three years earlier in Mom’s estate. He laughed off the email and calmed me down.

Lawyers close real estate transactions in some states, but Texas isn’t one of them. So even though I didn’t technically need an attorney, I hired him because the buyer’s agent had intimidated me.

What I did right: My attorney’s services were well worth the cost. He helped me through the negotiation, and he prevented a potential delay by spotting an error in the closing paperwork. Instead of listing Mom’s estate as the seller, the document listed Mom herself as the seller — as if she would materialize from her urn, like a genie from a bottle, to sign the papers. My attorney fixed that, and we closed at the scheduled time.

What I’ll do next time

Eventually, I want to get away from the hurricanes, rising seas and high home insurance costs of South Florida. When I sell this house and move to the mountains of western North Carolina, I’ll do a lot of things the same and a few things differently:

I will employ a real estate attorney from the outset, starting with reviewing the contract with the agent.

I will keep mum about specific costs and dates of work done on the house. Anything I say can and will be used against me.

And I’ll rejoice that I’m not selling a house with brown shingle siding.



Source link

Tags: BuyersEstateHeresHouseLearnedmarketRealsoldwriter
ShareTweetShare
Previous Post

Iceland’s ORF Genetics lands €5M to scale plant-based growth factors for cultivated meat; eyes €7M total

Next Post

Oracle’s AI-Powered Sales Growth Threatens Elon Musk’s Reign as World’s Richest Man

Related Posts

edit post
Is AI Really Coming After Your Job?

Is AI Really Coming After Your Job?

by TheAdviserMagazine
October 7, 2025
0

Since ChatGPT’s late-2022 release, countless headlines have prophesized an apocalyptic future for workers: “We asked ChatGPT which jobs it thinks...

edit post
Prime Big Deal Days 2025, Day One: Our Team’s Top 12 Favorite Deals!

Prime Big Deal Days 2025, Day One: Our Team’s Top 12 Favorite Deals!

by TheAdviserMagazine
October 7, 2025
0

Worried you missed some of the best deals from Prime Big Deal Days? We’ve got you covered with this list!...

edit post
Keurig Prime Day Deals | Keurig K-Mini Coffee Maker only  shipped, plus more! {Prime Day Deal}

Keurig Prime Day Deals | Keurig K-Mini Coffee Maker only $42 shipped, plus more! {Prime Day Deal}

by TheAdviserMagazine
October 7, 2025
0

For Prime Day, Amazon is offering amazing Keurig coffee makers deals for Prime Members right now! Check out these deals:...

edit post
Episode 229. “I’m almost 50 and have nothing to show for my life”

Episode 229. “I’m almost 50 and have nothing to show for my life”

by TheAdviserMagazine
October 7, 2025
0

Christine (47) and Thad (57) have been together for more than six years, but instead of building wealth, they’re buried...

edit post
How Is TSA Affected by the Government Shutdown?

How Is TSA Affected by the Government Shutdown?

by TheAdviserMagazine
October 6, 2025
0

Despite the government shutting down, most airport operations are expected to continue as usual. Transportation Security Administration (TSA) officers and...

edit post
Learn How to Make Your First 0 from Affiliate Marketing!

Learn How to Make Your First $500 from Affiliate Marketing!

by TheAdviserMagazine
October 6, 2025
0

Affiliate marketing is one of the easiest ways to start earning income from home. No products to create, no inventory...

Next Post
edit post
Oracle’s AI-Powered Sales Growth Threatens Elon Musk’s Reign as World’s Richest Man

Oracle’s AI-Powered Sales Growth Threatens Elon Musk’s Reign as World’s Richest Man

edit post
Requirements for Personal Loan to Ensure Quick Approval

Requirements for Personal Loan to Ensure Quick Approval

  • Trending
  • Comments
  • Latest
edit post
What Happens If a Spouse Dies Without a Will in North Carolina?

What Happens If a Spouse Dies Without a Will in North Carolina?

September 14, 2025
edit post
Does a Will Need to Be Notarized in North Carolina?

Does a Will Need to Be Notarized in North Carolina?

September 8, 2025
edit post
DACA recipients no longer eligible for Marketplace health insurance and subsidies

DACA recipients no longer eligible for Marketplace health insurance and subsidies

September 11, 2025
edit post
‘Quiet luxury’ is coming for the housing market, The Corcoran Group CEO says. It’s not just the Hamptons, Aspen, and Miami anymore

‘Quiet luxury’ is coming for the housing market, The Corcoran Group CEO says. It’s not just the Hamptons, Aspen, and Miami anymore

September 9, 2025
edit post
Tips to Apply for Mental Health SSDI Without Therapy

Tips to Apply for Mental Health SSDI Without Therapy

September 19, 2025
edit post
Raymond James sues to retrieve dead advisor’s laptop

Raymond James sues to retrieve dead advisor’s laptop

September 11, 2025
edit post
MKC Earnings: All you need to know about McCormick’s Q3 2025 earnings results

MKC Earnings: All you need to know about McCormick’s Q3 2025 earnings results

0
edit post
The Rational Bull Elk – Econlib

The Rational Bull Elk – Econlib

0
edit post
KindlyMD Partners With Antalpha, Eyes 0M Convertible Debt Facility for Bitcoin Treasury

KindlyMD Partners With Antalpha, Eyes $250M Convertible Debt Facility for Bitcoin Treasury

0
edit post
The Hidden Habits That Separate Financially Confident People from the Rest

The Hidden Habits That Separate Financially Confident People from the Rest

0
edit post
Banks set to impress in Q2, ECL phasing gives comfort to financials: Ashwini Agarwal

Banks set to impress in Q2, ECL phasing gives comfort to financials: Ashwini Agarwal

0
edit post
Bullish partners with Deutsche Bank to streamline banking for digital assets (BLSH:NYSE)

Bullish partners with Deutsche Bank to streamline banking for digital assets (BLSH:NYSE)

0
edit post
KindlyMD Partners With Antalpha, Eyes 0M Convertible Debt Facility for Bitcoin Treasury

KindlyMD Partners With Antalpha, Eyes $250M Convertible Debt Facility for Bitcoin Treasury

October 8, 2025
edit post
Bullish partners with Deutsche Bank to streamline banking for digital assets (BLSH:NYSE)

Bullish partners with Deutsche Bank to streamline banking for digital assets (BLSH:NYSE)

October 8, 2025
edit post
The Hidden Habits That Separate Financially Confident People from the Rest

The Hidden Habits That Separate Financially Confident People from the Rest

October 8, 2025
edit post
Green Lantern buys frozen fries co Tapugan for NIS 507m

Green Lantern buys frozen fries co Tapugan for NIS 507m

October 8, 2025
edit post
How to Find Coins Before They Get Listed on Binance or Coinbase

How to Find Coins Before They Get Listed on Binance or Coinbase

October 8, 2025
edit post
Banks set to impress in Q2, ECL phasing gives comfort to financials: Ashwini Agarwal

Banks set to impress in Q2, ECL phasing gives comfort to financials: Ashwini Agarwal

October 8, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • KindlyMD Partners With Antalpha, Eyes $250M Convertible Debt Facility for Bitcoin Treasury
  • Bullish partners with Deutsche Bank to streamline banking for digital assets (BLSH:NYSE)
  • The Hidden Habits That Separate Financially Confident People from the Rest
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.