Preferred Properties of Texas

The Preferred way to buy & sell real estate for you

Just Listed! 355 Bird Song Court in Stephenville, Tx

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This unique home is located just 5 minutes away from Stephenville. It sits on 2.3 Acres at the end of a small cul de sac. This open-plan home with four bedrooms and two bathrooms is surrounded by huge Live Oaks. The living room and kitchen have 10 foot high ceilings. You can enjoy the view of your back yard by the charming fireplace with oversized window. The flower beds are professionally designed and there is Tifgrand lawn. A 20×18 treehouse playground with sandbox is located in the backyard. The driveway has a half-court basketball court, a Goliath hoops and a chip-sealed driveway. The home has an extra electrical panel that can be used to connect a generator for powering the water heater, fridge, microwave, and water pump. Enjoy a stroll through the trees, and then cross the creek by way of a picturesque bridge. Call us today to see all that this property has offers!

Just Listed! Custom Home in Stephenville, Tx!

For any real estate questions or information please contact us today!

Just Listed! Beautiful Home in Lipan, Tx!

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The property has 2 acres with many trees. This home is located in a quiet area, but is not far from Lipan. It has 4 bedrooms, 2 bathrooms, a laundry room, a garden shed, and is surrounded by a ranch. This property has plenty of room for an RV, toys and pets. It is also almost entirely fenced. This peaceful country home is just waiting for a custom entrance.  

Just Listed! 7801 Wd Court in Lipan, Tx

 

Preferred Properties of Texasis here to help you find the right property to fit your needs. Gives us a call today!

To-Do List For Selling Your House This Spring

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Make It Inviting

  • Open blinds or curtains to let the light in
  • Check light bulbs and replace as needed
  • Take down personal photos or items
  • Fix anything that’s broken
  • Give every room a clear purpose

Show It’s Cared For

  • Clean your vents and baseboards
  • Vacuum, mop and sweep floors
  • Declutter throughout
  • Organize countertops, cabinets and closets
  • Touchup any scuffs on the wall

Boost Curb Appeal

  • Power wash outdoor surfaces
  • Clean the windows (inside and out)
  • Tidy up the landscaping
  • freshen up your entry
  • sweep patios, decks and walkways

Connect with one of our real estate agents at Preferred Properties of Texas so you have advice on what you may want to do to get your house ready to sell this season.

Original Blog:https://www.mountainroserealty.co/blog/checklist-for-selling-your-house-this-spring/

Consider A Few Things Before Buying Something AS-IS

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You might come across listings that advertise a property as-is if you are looking for a new house. It’s an option for sellers who want to sell quickly.

The homes are often less expensive than comparable properties for buyers.

There are many benefits to buying a home in its current condition, especially in this competitive housing market. However, it is important to fully understand the implications.

Sellers list their house as-is and will not make repairs or modifications before they close on the property. Sellers cannot guarantee that everything will be in good condition or working order. A Seller’s Disclosure is not required.

It’s your responsibility to repair any problems that you find after you purchase a property advertised as “as-is”.

A seller selling as-is must still meet minimum disclosure standards in each state and federal. These standards will inform you about lead paint conditions.

A home being listed as-is does not necessarily mean that it is inoperable. A home can still be listed as-is, even if it has minor or major problems.

This could happen when a seller is in financial distress or if they are in a hurry and don’t have time to wait for contractors to complete even minor cosmetic work.

It’s possible that the home is no longer livable in its current condition. Your lender might not be happy with you making the necessary repairs.

Certain livability requirements are required for many types of loans. These minimum property requirements are also known as MPRs. These MPRs will be assessed by appraisers.

Conventional loans are not guaranteed or insured by the federal government. Fannie Mae, Freddie Mac and many other conventional loans conform to these criteria. Fannie Mae or Freddie Mac homes can be bought if they have minor problems. The house must be safe and any structural problems should be normal wear and tear.

You might still be eligible for a conforming loan for as-is property if you have plumbing leaks, interior damage, or missing light fixtures.

The MPRs for government-backed loans like VA loans are more stringent than other types.

An inspection is required if you are interested in purchasing a home as it stands. An inspector will help you to understand the problems and let you know how much it might cost to fix them.

A inspection is not required for an appraisal.

A lender will usually require an appraisal to determine the property’s value. You might choose to have a home inspection.

Sellers can refuse to inspect a property as-is. This is a red flag.

A home being sold “as-is” does not necessarily mean that it is complete. A seller could list a property as is but refer to only certain parts. Broken pools and sheds are often partial features that can be added as-is.

Ask the seller what they mean by “as-is.”

You don’t have to waive your right for disclosures when buying an “as-is” home. You must be aware that the sellers are bound by federal and state regulations regarding disclosures about any issues in the house.

Each state has its own disclosure laws. Some states, for example, have water damage disclosure regulations.

You may be able sue a seller if they fail to inform you about a problem in your state.

Lead paint is the only federal disclosure requirement. The seller must disclose if the home was built prior to 1978.

If you are considering buying a home as is, a good agent can help. An agent who is knowledgeable about disclosure laws can help you understand what the implications are for buying as-is.

These can make you more confident about your purchase decision, or help you decide when it’s best to not buy.

 

Original Blog: https://realtytimes.com/consumeradvice/buyersadvice/item/1044463-what-does-as-is-mean-for-buyers?rtmpage=

Holiday Real Estate For Buyers

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It’s believed that the holiday season is when the real estate market closes. This myth makes it a bad time to purchase a home. Did you see the “myth”?

You can get a great deal on a home by buying it over the holidays, while also minimizing competition. If you are looking to buy a home, here’s some information.

There will be many lights and inflatable Santas. You might find 20 years worth of holiday decorations in a home. Although these sellers were smart to keep holiday decor lightened and decluttered, you can see beyond that. How does the house’s bones look? What floorplan do you want? How big are the rooms? What kind of updating will you need to do? No matter what the sellers have done to their homes, it is important to ask your key questions while you tour.

It’s easy to get sucked into a low-priced home and become blinded by its affordability. This can lead to you overlooking a floorplan that doesn’t work for you, or a neighborhood that isn’t in your top tier. It can be helpful to have a list of “must-haves” before you start house hunting.

A home that is on the market during the holidays may not have been staged and updated to your liking. It’s possible that there is a reason why the home is being sold at this time of the year. Maybe there was a job change or transfer. You might find a great deal if you are willing to overlook the small things.

Fortune Builders stated that “if there is one undisputed truth about holidays, it is that real estate inventory tends to be lower during holiday months.” “There is simply less realty activity during holidays — less people selling homes. This is compounded by the fact that there are fewer realtors, mortgage lenders, and inspectors than usual. This can be a great advantage for home buyers in the holiday season, as there is less competition. You’ll find less buyers if you are able to find the property you want. This will increase your chances of getting a fair price, which can help you save even more.

However, there are limitations to what low you can go. Your agent can help you make sure that your offer is strong. It’s not a good idea to offend the seller or lose the house.

You don’t have to wait if there’s less competition during the holidays. There are many smart buyers out there who are looking for homes right now, so if you’re smart enough to do that, others will be doing the same. Don’t let the house go if you don’t love it.

According to The Mortgage Reports, only a few real estate agents can sell most houses in many areas. They often work at the largest agencies and communicate with each other about the latest market trends. This is crucial because fewer properties are available between Halloween and New Year’s Day. A connected, successful agent can help you gain early access to as many houses possible.

Today’s real estate agents won’t take clients to view homes if they don’t know what their budget is. Perhaps a family member or friend who is an agent might let it slide for the sake seeing what’s available. You don’t want to fall in love and then lose the home because you had to talk to a loan officer when another buyer was ready, prequalified and ready to make an offering.

You should ensure that your house is in good condition if you are selling it at the same time as you buy a new one. Your purchase could be delayed or stalled if your house isn’t available for sale when you make an offer.

 

Original Blog: https://realtytimes.com/archives/item/1034640-holiday-real-estate-a-buyer-s-guide?rtmpage=

What You Need To Know For A Real Estate Recession

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You’re probably aware that the economy is in poor shape. The inflation rate is at its highest level in 40 years, the interest rates have doubled from early this year, while real estate prices are literally on the rise.

The United States’ economy naturally expands and contracts. Expandions are usually a sign that the economy is in good health and last for several years. A recession is a period when the economy contracts by more than two quarters consecutively. This means that we must slow down, hopefully only a little. That is a recession. It usually lasts less then a year.

Because it was fun, we printed and spent way too much money. Inflation kicked in and the Federal Reserve is trying slow down things a bit.

We don’t know whether we are currently in recession, but the housing market is experiencing a reset right now.

  • Interest rates have risen
  • Monthly mortgage payments up
  • Less buyers and renters are eligible, so housing prices will fall. However, there is still a shortage of homes to rent or for sale.

Consumers should recognize that interest rates will remain in the 6%-8% range for at least the next few years. This is a more common range. To stimulate the economy, the super low rates that we witnessed during COVID-19 were sub-sidised.

Second, determine the length of your occupancy. If you plan to move within four years, rent now and buy now if your plans are to remain there for at least four.

Buyers should marry the house but not date the rate. Refinance as soon as rates fall below current levels. We will soon see another round of stimulus and the Fed will lower rates. Your home will be worth much more in the future than it is now. Take a look at ARMs. Make sure your pre-approval letter matches your offer.

Sellers, adjust your expectations to the current market conditions. There are no longer any 10 over-priced offers for the first weekend. Buyers who are still interested in buying a home are extremely price-sensitive. Consider pricing your home realistically. You might consider upfront payment for an appraisal. A prepaid 2-1 rate buydown can help you attract buyers.

The bottom line is that the US housing market is starting to cool down. It has been so hot for so long that most sellers aren’t ready to accept less than their full value in most markets. We aren’t seeing realistic asking prices discounted and don’t expect to soon.

It is still a buyers market and there is a severe shortage of homes for sale.

There are no reasons for home prices to fall or interest rates to drop in the next six to twelve months. We  don’t believe we will see another housing crash as in 2008. Forget about foreclosures anytime this year.

Original Blog: https://www.fox5atlanta.com/news/what-buyers-and-sellers-need-to-know-for-a-real-estate-recession

Preferred Properties of Texas

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