Archives for April 2020

Rise to the Top of the Pool by Selling Your House Today

April 28, 2020 by chorton Leave a Comment

With the release of the latest Economic Pulse Flash Survey from the National Association of Realtors (NAR), results show that people selling their houses today are holding strong on price. According to the most recent data, 74% of real estate agents noted that sellers are not dropping listing prices to attract more buyers.

Lawrence Yun, Chief Economist at NAR, noted:

“The housing market faced an inventory shortage before the pandemic. Given that there are even fewer new listings during the pandemic, home sellers are taking a calm approach and appear unwilling to lower prices to attract buyers during the temporary disruptions to the economy.”

This inventory shortage, which spread widely throughout the housing market going into today’s economic slowdown, created an environment where there were not enough homes for sale for those who wanted to buy them. With that backdrop setting the stage, Yun also notes:“With the current quarantine recommendations in place, fewer sellers are listing homes, which will limit buyer choices.”

So, with buyer choices already limited going into this season, and more sellers removing listings today, if you’ve been thinking about listing your house, it’s a great time to do so. Many others in your neighborhood may be waiting to make a move or removing their listings, so staying on the market – or jumping into it – could work to your advantage.

Buyers today are serious ones, and with prices holding steady in this low-inventory market, you can feel confident about selling today. Embracing the process virtually, where available, could help your house hit the top of an eager buyer’s list. While your neighbors miss out on this opportunistic time, you don’t have to.

Bottom Line

If buyer choices are limited in your neighborhood, selling now may help your listing rise to the top of the pool. Reach out to a local real estate professional today to make sure you have the expert help you need to succeed in the selling process. Contact our office to speak with one of our knowledgeable agents today.

Get A Jump and List Your Property Now!

April 28, 2020 by chorton Leave a Comment

Spring into Listing Your Home Today

Lawrence Yun, Chief Economist at NAR, noted:

“The housing market faced an inventory shortage before the pandemic. Given that there are even fewer new listings during the pandemic, home sellers are taking a calm approach and appear unwilling to lower prices to attract buyers during the temporary disruptions to the economy.”

This inventory shortage, which spread widely throughout the housing market going into today’s economic slowdown, created an environment where there were not enough homes for sale for those who wanted to buy them, and this holds true with the real estate market in Stephenville, TX and Erath county in general. With that backdrop setting the stage, Yun also notes:

“With the current quarantine recommendations in place, fewer sellers are listing homes, which will limit buyer choices.”

Buyers in Stephenville, TX and the Cross Timbers Area, today are serious ones, and with prices holding steady in this low-inventory market, you can feel confident about selling today. Embracing the process virtually, where available, could help your house hit the top of an eager buyer’s list. While your neighbors miss out on this opportunistic time, you don’t have to.

Bottom Line

If buyer choices are limited in your Erath county town, city, or neighborhood, selling now may help your listing rise to the top of the pool. Contact on of our Realtors at Preferred Properties of Texas today to make sure you have the expert help you need to succeed in the selling process.

Original article courtesy of https://www.keepingcurrentmatters.com/

Building On Your Land – What You Need to Know

April 15, 2020 by chorton Leave a Comment

The land we own can serve many purposes. Some buy land as a place to hunt or fish, while others plan to grow crops or start a farm. For others, it’s a place to build your dream home or vacation getaway. Regardless of your reason, if you’re planning to build a home, cabin or outbuilding on your land, there are a few things you need to know first.

Zoning

Before building any structure on your land, you need to determine whether it’s actually legal to do so. Zoning restrictions and topography may dictate that a home or structure may not legally be built, or it will be required to be in a certain area of the property. Be sure to check with an experienced local builder to help you navigate any potential issues.

Finding a Lender

Once you have any zoning issues sorted out, your next step should be to meet with a lender that’s experienced in construction loans so that you can be pre-approved for a loan based on your financial needs. In general, a build-on-your-lot or custom home will require a down payment of 20% to 25% of the entire cost of building the home, including permits and site preparations. Most lenders are willing to finance construction for a year. When the home or building is complete they will require you to refinance into a permanent loan for the property.

Building a Home

There are three primary options for having a home built on your land. Choose the one that fits your needs and budget best:

Build-On-Your-Lot Builder – Most of these builders will have a variety of pre-designed floor plans for you to choose from. Oftentimes they can offer you a choice of specific fixtures and appliances for your home. This can save you money, but make sure these products match what you’re looking for.

Design-Build – These firms work with you to plan your new home from the ground up. It’s a similar process to working with a build-on-your-lot builder, except your home will be a custom design. These firms usually have in-house architects or a contract with an architect who will work with the construction company.

Architect – Of course, you can always hire your own architect to build your new home or building. The architect can create the exact home you’re envisioning using your ideas and their expertise. If you choose to hire your own architect, be sure that the architect and builder are willing to work together and can confidently meet your budget.

Feel free to contact our office, we are happy to answer any questions.

The Realtors at Preferred Properties of Texas in Stephenville are here to help you buy and sell real estate for over 25 years!

Thinking About Selling Your Home

April 10, 2020 by chorton Leave a Comment

Thinking about selling your Home

We are hare to help!

Whether you are buying or selling Preferred Properties is ready to hop to it and help you find the best property for you. We don’t need to add a lot of fluff to make sure we lay the right eggs in making sure that we take care of all your real estate needs. So when you are thinking about selling your home contact one of the professional Realtors at Preferred Properties of Texas.

The Realtors at Preferred Properties of Texas in Stephenville are here to help you buy and sell real estate for over 25 years!

The #1 Thing You Can Do Now To Position Yourself To Buy A Home This Year

April 8, 2020 by chorton Leave a Comment

The last few weeks and months have caused a major health crisis throughout the world, leading to a pause in the U.S. economy as businesses and consumers work to slow the spread of the coronavirus. The rapid spread of the virus has been compared to prior pandemics and outbreaks not seen in many years. It also has consumers remembering the economic slowdown of 2008 that was caused by a housing crash. This economic slowdown, however, is very different from 2008.

One thing the experts are saying is that while we’ll see a swift decline in economic activity in the second quarter, we’ll begin a sharp rebound in the second half of this year. According to John Burns Consulting:

“Historical analysis showed us that pandemics are usually V-shaped (sharp recessions that recover quickly enough to provide little damage to home prices), and some very cutting-edge search engine analysis by our Information Management team showed the current slowdown is playing out similarly thus far.”

Given this situation, if you’re thinking about buying a home this year, the best thing you can do right now is use this time to get pre-approved for a mortgage, which you can do from the comfort of your home. Pre-approval will help you better understand how much you can afford so that you can confidently do the following two things when you’re ready to buy:

1. Gain a Competitive Advantage

Today’s low inventory, like we’ve seen recently and will continue to see, means homebuyers need every advantage they can get to make a strong offer and close the deal. Being pre-approved shows the sellers you’re serious about buying a home, which is always a plus in your corner.

2. Accelerate the Homebuying Process

Pre-approval can also speed-up the homebuying process so you can move faster when you’re ready to make an offer. Being ready to put your best foot forward when the time comes may be the leg-up you need to cross the finish line first and land the home of your dreams.

Bottom Line

Pre-approval is the best thing you can do right now to be in a stronger position to buy a home when you’re ready. Connect with a local real estate professional today to get the process started. The Realtors at Preferred Properties of Texas in Stephenville are here to help you buy and sell real estate for over 25 years!

Everything to Know About Road Access

April 7, 2020 by chorton Leave a Comment

This article was originally published on landhub.com

by Caroline Kirby

If you’ve been searching for land for a while you’ve likely come across listings that talk about road access time and time again. But what does that actually mean and why is it so important? We’ll break it down for you.

Don’t Get Landlocked

When searching for land to buy you don’t want to get stuck in the middle, surrounded by properties owned by other parties leaving you unable to freely access your own land. In order to avoid buying landlocked property you should have an idea of the different types of road access to make the best decision based on your needs.

Generally, access falls under one of three legal categories: public access, un-deeded access, and deeded access.

Which One Do You Need?

Public access is the easiest to look at, so we’ll start there. This is property that touches a government-maintained road meaning you won’t have to cross any other person’s property to get to your land.

Un-deeded access is essentially the equivalent of being landlocked—you’ll have to cross another party’s property to access your land. To reach your land you will have to cross a road or trail owned by another person; or maybe there’s no road at all. There is likely an existing path that people have always used to gain access to the property, but there is NO written legal agreement. While this may have worked for previous owners it can complicate easily and quickly, unfortunately un-deeded access may not be the best route.

As you could probably guess, deeded access is just the opposite of un-deeded access. There is a formal, written agreement with adjoining landowners that gives you the freedom to cross the road to reach your land. Land with deeded access poses no potential issues for investors and will protect you as it’s usually recorded in the local courthouse.

Why Does It Matter?

While every state has their own laws regarding land, for the most part you want to avoid getting mixed in with un-deeded access. Doing so could result in issues with running utility lines, water or pipe lines across properties or even the lack of an easement. Investing in land with un-deeded access could actually prove to be more trouble than you’re looking for, but with that being said there are exceptions to every rule.

If you are intending to use your landlocked property for hunting or growing timber you can typically get access granted easily, either by the adjoining property owners or the state. However, contention with neighboring property owners could lead to costly legal battles and a lot of wasted time.

How you plan to use your land could make all the difference in the road access debate so make sure you have a clear idea of what you want before you start looking for properties or at least before making any offers.

When you’re ready to start shopping around you can browse our properties here.

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The Realtors at Preferred Properties of Texas in Stephenville are here to help you buy and sell real estate for over 25 years!