Preferred Properties of Texas

The Preferred way to buy & sell real estate for you

(254) 965-7775
  • Home
  • Search
    • Search All Listings
    • Featured Listings
    • Active Exclusive Listings
    • Sold Exclusive Listings
    • Texas Farm Lands & Ranch Real Estate For Sale
    • Market Reports
    • Login / Register
  • Cities
  • Blog
  • Selling
  • About
    • About Us
    • Testimonials
    • Our Google Reviews
  • Contact

Archives for July 2021

Housing Shortage May Finally Be Starting To Lift

July 27, 2021 by chorton Leave a Comment

The massive housing shortage that started before the pandemic, and was then made worse by it, may finally be beginning to ease.

More supply is appearing on the market suddenly, which will undoubtedly help frustrated buyers and, in the long term, could take some of the heat off of home prices.

According to Realtor.com in June, new listings rose by 5.5% and 10.9% respectively year over year. The 10 larger cities with the highest number of new listings increased by 20% or more compared to last year were the most successful.

Our June data report indicates that buyers have good news, despite the fact that there’s still a lot of homes to sell and that home prices are at a record high.

As sellers entered the market with a variety price points across the country, inventory declined more than in the earlier pandemic.

It is not surprising that inventory has increased because most new listings fall between May-June, after the spring market. However, today’s housing market doesn’t follow the traditional rules. The pandemic caused unprecedented demand for larger suburban homes.

We noticed an improvement in the number of new listings between May and June. This suggests that sellers are entering market historically later in the season. It could also mean that we will see home buying continue into the autumn as buyers look for new opportunities.

Unexpected new supply is good news for homebuyers. Many have been left out in bidding battles. However, the market remains extremely tight. The inventory of homes on sale fell 43.1% over the past year, which is 415,000 less homes than were available on a typical June date. However, this is an improvement on the more than 50% declines that were seen in May, March, and April. Again, new listings were higher but still far below the June pre-pandemic average.

However, there is still more supply available for some buyers who are frustrated. The market is improving slightly. It means that more people have signed contracts to buy their next home. This in turn means there are more listings available because they are now able sell their home.

The month’s inventory, which is a calculation of how much has been sold compared to how much remains for sale, saw a slight increase, but not enough.

Housing boom will slowly recede if there are more homes on the market. It is unlikely that the housing boom will fall sharply or “bust” simply because of favorable demographics and historically low mortgage rates.

Filed Under: Blog, Buying a home, Homes for Sale, Selling Your Home Tagged With: Blog, buying a home, home for sale, homes for sale, real estate, selling a home

Take Advantage of Today’s Low Rates Before They Begin to Rise

July 26, 2021 by chorton Leave a Comment

Mortgage interest rates in today’s realty market are at or near record lows. If you have owned your home for many years, and haven’t refinanced recently, it’s likely that you have an interest rate on your mortgage that’s higher than the current average.

Many of today’s homeowners are rethinking what they need in a home and redefining what their dream home means. For some, remote work means they need additional space. Some people may choose to move to a less expensive area or downsize. These are great options if you’re thinking about moving.

Today’s rates are less than 3%. But experts predict in the coming years, rates will rise.

Take advantage of the opportunity to get a lower interest rate on your mortgage if it is higher than average. Lower rates mean you may be able to get more house for your money and still have a lower monthly mortgage payment than you might expect.

As mortgage rates rise so does your monthly payment.

Even a slight increase in rate can make a big difference in your monthly mortgage payment.

To keep your monthly payments the same, you will need to consider a home that is less expensive.

Whatever your reason for wanting to move up or down, this is the best time to do it. Even a slight change in interest rate can make a huge difference to your purchasing power.

Consider refinancing if making a move now doesn’t feel right. If you want to reduce your monthly mortgage payments and remain in your home, refinancing may be a good option.

Take advantage of today’s low rates before they begin to rise. Whether you’re thinking about moving up, downsizing, or refinancing, contact Preferred Properties of Texas today to discuss your options.

Filed Under: Blog, Buying a home, Investing, Selling Your Home Tagged With: Blog, buying a home, buying homes, first time home buyer, Homes for sale Stephenville TX, investing, mortgage, real estate, selling a home

Another Great Property SOLD!

July 22, 2021 by chorton Leave a Comment

GetMedia4 13

If you are considering selling your home, call Preferred Properties of Texas today for a free consultation or market analysis. Our agents are here to answer any questions you have on how we can help you get top dollar for your home.

https://www.preferredpropertiestx.com/listings/amazing-rock-home-on-40-acres-of-irrigated-coastal/

Filed Under: Blog, Selling Your Home Tagged With: Blog, home for sale, homes for sale, horse ranch, Preferred Properties of Texas, ranch for sale

JUST SOLD!

July 22, 2021 by chorton Leave a Comment

Preferred Properties of Texas is here to help you find the right property to fit your needs.

Gives us a call today!

SOLD! Fantastic Investment Opportunity

 

 

Filed Under: Blog, Investing Tagged With: Blog, commercial property, investing, just sold, selling a home

Access and Easement 101 for Texas Land Buyers

July 21, 2021 by chorton Leave a Comment

Mr. Mac and Mr. Cheese were neighbors and friends. Mr. Mac bought a piece of land adjacent to Mr. Cheese’s property. However, to get to his newly bought asset, Mr. Mac must pass through Mr. Cheese’s area. Being good neighbors and friends, they agreed verbally that Mac could pass through the property so that he could get to and from his lot. For years, he was able to use the property as a right of way. Unfortunately, Mr. Cheese died and his heirs sold the property that served as a right of way. The new owners did not honor the verbal agreement that existed between the friends. Mr. Mac lost access to his lot, and for whatever use the land was to him, he cannot continue until he is given easement by the new landowners.

Sounds familiar? This is the classic case of easement – the right of way, and the dilemma of verbal agreements in such circumstances.

What is Easement?

An easement is a legal ability to use someone else’s land to use for a specific purpose. Landlocked properties are usually the kind of land that needs easement, to gain access. In the story, Mr. Mac bought a landlocked property and needed permission from Mr. Cheese to access it. Mr. Cheese permitted Mac to enter and exit to his property. In most cases, the agreement/permission would be written and recorded at a county clerk’s office. However, an implied or verbal agreement was sufficient for them as can be seen in this story.

When the easement is documented and registered, it becomes an encumbrance or a claim on the land’s title.

Kinds of Easement Including Right of Way

Easement is the right given by a landowner to another person to use his land for a specific purpose. It is also specific whether it is for the whole use or only a certain portion. Here are the different kinds of easements:

  • IN GROSS is given to specific individuals or companies for a specified use, intent, or purpose. This kind of easement agreement is not transferable with the property when sold or transferred in other means. A new agreement must be drawn.
  • Appurtenant is the kind of easement attached to the land. Right of way is an appurtenant easement that is passed with the property when it is transferred or sold. When buying land with an adjacent landlocked property, make sure to check for an easement agreement, especially before undergoing land development such as building facilities or improvements such as permanent fencing.
  • Utility Easement is most commonly used by utility companies. They are given the right to use a specific part of the land for utility purposes such as electrical poles.
  • Prescriptive easement is the right to use land without the permission of the landowner. Permission is given to an individual, at a specific period or length and the use of the portion of land meets requirements. Different states have different rulings on prescriptive easement.
  • By Necessity gives someone the legal right to use a portion of a property as long as the need is considered valid. This is usually used for landlocked residential property with no access to a road except via another property.
  • Private Easement is an agreement between individuals or companies that allows the person or company to access, build or maintain a structure on a property.

Effects of Easement to Property and Owner

If the easement agreement of Mr. Mac and Mr. Cheese was documented and registered, it would affect the sale of the property and its new owner.

Effect on Property Values

Easement affects the value of a property. When a property with easement is for sale, the land value would include it. When a property owner is offered an easement agreement by a landlocked owner, a real estate appraiser would be called to appraise the value of the property or portion of it. The appraiser adjusts the value based on the rights and easement used that will affect the surrounding property where the portion of easement will be enforced. Residential lots’ value is not affected by easements in most cases, because these usually on edges of the land or for utility management only.

Problems Property Owners Encounter

Be informed that if you have a property with an easement agreement, you cannot make improvements or build within the area where easement is enforced. Any structure that blocks access will be torn down. To ensure you will not encounter problems and develop the surrounding property optimally, know the placements or where the specific areas are.

If you are a buyer, find out in advance if there are existing agreements with adjacent landlocked properties, the kind of easement, locations, and with whom. Registered agreements are usually considered public documents, so research through the local registry office.

You can also ask for the assistance of a real estate agency, like Preferred Properties of Texas, to help you gather documents. Our Real estate agents at Preferred Properties of Texas are experienced with handling agricultural and industrial lands and know where to look and how to gather this information.

Filed Under: Uncategorized

Is It A Good Idea To Go Over Asking Price?

July 16, 2021 by chorton Leave a Comment

It is important to consider the price of homes for sale when making an offer. You risk losing your offer if you offer too much and the bank might not value the home at the amount that you have offered. However, this does not mean that you should offer more than the asking prices for a home. This strategy might sound odd at first. The sticker price of a car is what you would offer, but the extra $100 for a barbecue at the shop is not something you would do. However, buying real estate is a different matter. Sometimes, it makes sense to offer more than the asking price.

There will be many offers. We are currently in a seller’s marketplace. This means that there are more buyers than homes available. Sellers receive multiple offers for their homes. They will accept the highest offer, naturally.
To be competitive in such a market, you will often need to offer more than the asking price. You are more likely to win the deal if there are three bids at the asking price but you offer 2% more than that.

The house is priced well below market. Sellers who are motivated and want to sell their house quickly will sometimes under-price their property. This will attract more attention and result in multiple offers.
If you or our real estate agent agree that a home should be priced lower than it is, then asking for more than the asking price makes sense. In order to score a deal, you will outcompete other buyers by offering higher asking prices. However, you won’t overpay.

A cash offer must be rejected. Imagine your agent talking to the buyer’s agent about the pending offer for the home. It’s a cash deal. Cash offers are difficult to beat. Cash offers are attractive because they require less work and take a much shorter time to close.
You can make a similar deal, but the seller will likely choose the financing offer. You can make it worth while for the seller to accept your offer by asking for more than the asking price

In the past, multiple offers were turned down by the seller. What if multiple offers have been made on the house but none have been accepted? Although the home is still available for sale, you don’t want another buyer to reject your offer. This behavior is commonly referred to as “unmotivated selling”. Sellers will only sell if they feel it is worth the effort. You can make an offer instead of asking if you truly want the house.

It is impossible to let go of your home. Perhaps this is the only house you have seen that suits your needs. Perhaps you have a deadline and can’t wait to make an offer. It’s a great way to get extra insurance and make sure you don’t lose your home by making an offer above the asking price.

Deciding how much to offer for a home isn’t always easy! It’s important to have a good agent on your side to help you make these decisions. Contact us if you’re looking for a reliable agent to guide you through the home buying process.

Filed Under: Blog, Buying a home, Homes for Sale Tagged With: Blog, buying a home, buying homes, homes for sale, Homes for sale Stephenville TX, real estate

  • 1
  • 2
  • 3
  • Next Page »
Preferred Properties of Texas

Preferred Properties of Texas

The Preferred Way to Buy and Sell Property
for Over 25 Years
(254) 965-7775 Office
Contact Preferred Properties of Texas
Listing Alerts Market Reports Your Home's Worth

Search our Blog

  • Blog
  • Buying a home
  • Commercial Properties for Sale
  • Events
  • Foreclosure
  • Home Improvements
  • Homes for Sale
  • Investing
  • Land for Sale
  • lots for sale
  • Ranches for Sale
  • Real Estate Advice
  • Selling Your Home
  • Uncategorized

Preferred Properties of Texas

(254) 965-7775|Contact Preferred Properties of Texas
Preferred Properties of Texas

TREC Consumer Protection Notice  •  TREC Information About Brokerage Services
Privacy Policy  •  sitemap   •   admin   •   ©2023 All Rights Reserved  •  Real Estate Website Design by IDXCentral.com