After our last batch of tenants moved out, I decided it was time to sell this rental house and simplify my life a little. It was our first home when my husband and I moved back to San Antonio, and it became our first rental property when we found a better home for our needs. It's in Oak Hills Terrace, a quiet neighborhood close to the Medical Center, with big, tree-filled yards and actual 2-car garages, so I hoped it would sell quickly.

Charlie Chan for sale

I replaced the vinyl flooring downstairs with ceramic tile, totally repainted the interior of the home, and replaced all the carpet. I refinished the counter top in the guest bathroom and updated several of the light and bath fixtures. I also did some "light" staging, and made sure the sprinkler was keeping the grass green.

My favorite thing about this home was the beautiful, stately oak trees in the front and back yards. We had planted some crepe myrtles and a sweet olive tree in the back yard, and they had grown in the last few years. We planted a jasmine vine at one corner of the patio, and it had grown up over the pergola to shade quite a bit of the deck.Husband in the daffodils

We also planted daffodils, and some of them actually came up and bloomed before the squirrels ate them. Vividly colored bluejays hung out in our back yard. We had a resident possum who performed acrobatic feats on the back fence. We had enjoyed this home, and some good (and not so good) tenants had enjoyed it, too.

Anyway, after listing the house for 12 days at the higher, but not the highest, side of the price range of the comparable sales, but not getting much activity, I lowered the price to $145,000. Ten days later, we had a full-price contract for $151,000, including our $6000 contribution to the buyer's closing costs.

Today, the buyer's agent passed on the news that the house appraised for $155,000. So what did I immediately think?

"I priced the house too low! I'm givin' it away!"

...instead of thinking, "Yay! It appraised out!"

So, just as I would with my clients selling their home, I reminded myself of three things:

1. Lenders' appraisals do not reflect market value, and sometimes bear no resemblance to reality either.

2. There is now a happy home buyer who will be very unlikely to back out of the contract if something goes wrong, because she has "built-in equity."

3. And the most important thing: I am one step closer to moving on with my life.

 possum on fence

 

Robin Rogers, Realtor, Broker-owner, ABR, TRC, CRS

Also Cat Owner, Photographer, Smartass, Aspiring World-Class Drummer

Silverbridge Realty Why not subscribe to this lovely blog?

 
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4 Comments on It happened to me! And I reacted just the way any other seller would

JUL
25
415,660 Points Localism Sponsor Outside Blog

Howdy there Robin

That sure is a really fine looking home y'all had for your first home. And I sure like the photo of the possun on the fence.

I'm happy for y'all on selling your home. You sure are right about the bank appraisals now a days, sure don't resemblance reality sometime.

P.S. Thank you for stopping by to visit, over at my Blogging Homestead. I'll be getting a reply written to you before I sign off.

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8:40pm • #1
JUL
26
176,813 Points 2 Featured Posts Outside Blog

Robin, Your three points are well taken and I completely agree with point 1 on appraisals. It is just good news to appraise out and go to a closing.

7:46am • #2

You can't second guess your appraisal.  Be happy that your transaction will move swiftly to a satisfying Close.  Be grateful for your good fortune.

10:18am • #3
JUL
27
230,464 Points 1 Featured Post Localism Sponsor Outside Blog

Hope the closing went smooth. I know you have some photo's with good memories.

8:09pm • #4

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Robin Rogers, CRS: fun and professional real estate agent and investment adviser

San Antonio, TX

More about me…

Robin Rogers, Silverbridge Realty, San Antonio, Texas

Address: Cibolo, TX, 78108

Cell Phone: (210) 880-5402

Email Me

Real estate in the San Antonio area and on the Guadalupe River; photography; houses and homes; investments and rental properties; wildlife in my yard; travel; fun stuff; and whatever else takes my fancy. Click my playlist below to hear some of my favorite music!



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