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Down Payment Assistance Opens the Door to Homeownership

December 7, 2020 by chorton Leave a Comment

A newspaper on a wooden desk – Real Estate

A lot of men and women are happy to get a house right now while affordability is still a highlight of their current housing market. This is certainly clear.

If you do not feel comfy with the fiscal procedure of purchasing property, it’s tough to generate a certain choice. In reality, four homebuyers say they want help to know what they could even manage in the first location. That is the reason why finding the ideal professionals to assist you get through the procedure is so essential.

In addition to that, the exact same poll reports on two-thirds of potential homebuyers think they will require assistance to conserve enough to get a deposit . What they might not understand is there are a great deal of down payment assistance programs in the regional and state levels, and a number have capital readily available for potential customers.

Remember, these apps are not only for first-time homebuyers, therefore it is well worth researching your choices wherever you’re in your own homeownership journey. By way of instance, if you are working at home today, you could be considering moving to a less expensive area where you can stretch your dollar further and have more room, indoors and outside.

If affordability is in your mind and you are hoping to be operating from home longterm, the ideal home might be in a place you have not thought yet. Additionally, the help program you need may be within reach also.

If you are interested in knowing more about down payment assistance programs, extra information can be found via Down Payment Resource. Your property adviser can help you choose which choice is right for you personally.

Thanks to a range of down payment assistance programs, affordable options are out there for today’s hopeful homebuyers. Let’s connect today to get you started on the path to your dream home. Contact Preferred Properties of Texas today.

Filed Under: Buying a home, Homes for Sale, Real Estate Advice, Selling Your Home Tagged With: buying a home, first time home buyer, home for sale, Homes for sale Stephenville TX, mortgage programs, real estate advice, selling homes

Ways Low Inventory Is A Win For Sellers

December 6, 2020 by chorton Leave a Comment

The amount of houses available today is significantly lower compared to high buyer action in the current housing market.

After the demand for houses is greater than what’s available on the market, it’s a great time for homeowners to sell their residence. Listed below are three ways low inventory can help you win in case you’re ready to make a transfer this winter.

With a lot more buyers in the marketplace than homes offered for sale, homebuyers are often entering into bidding wars for the houses they want to buy. This purchaser competition drives home prices up. As a vendor, this can certainly work to your advantage, potentially netting you more for your house once you close the deal.

Greater Return on Your Investment. Increasing prices mean houses are also gaining worth, which drives an increase in the equity you have in your home.

This year-over-year growth in equity gives you the capacity to put that money toward a down payment on your next home or to maintain it as additional savings.

Better Terms. When we’re in a sellers’ market like we are now, you are in the driver’s seat if you sell your house. You have the capacity to sell on your terms, and buyers are more inclined to work together with you if it means they could eventually move into their dream house.

So, is low housing stock a major thing?
Yes, particularly in the event that you want to sell your house in the perfect moment. The market today gives sellers immense negotiating capability. But, it won’t continue forever, particularly as more sellers return to the home market following year. If you’re considering selling your house, the very best time to do this is currently .

If you’re interested in taking advantage of the current sellers’ market, let’s connect today to determine your best move in our local market. Contact Preferred Properties of Texas and speak to one of our knowledgeable agents.

 

Filed Under: Buying a home, Homes for Sale, Real Estate Advice, Selling Your Home, Uncategorized Tagged With: advice, buying a home, first time home buyer, home for sale, Homes for sale Stephenville TX, Preferred Properties of Texas, real estate advice, selling a home

Should I Buy A New Or Older Home?

December 4, 2020 by chorton Leave a Comment

Click through to have a peek at the cost differences, upkeep and operation expenses, location and kind of the house when making your choice.

Now, what type of house are you contemplating purchasing? Among the initial questions which you’re likely to be asked is if you want to know more about a new building or an present home. There are quite a few distinct components to weigh between them both, such as radically different rates and prices and some quite interesting pros and cons.

Contemplate Price. New structure will maintain a more restricted source, which often raises the selling cost. As a purchaser, you’ll also receive choices for customizing and updating a new house that may also significantly boost the selling price above an already present home. Generally, new houses cost up to 20 percent over a similar present home in exactly the exact same location. Finally, however, this is based upon the sort of house and where you are.

Reflect on price. Additionally, with appliances new, little repairs and upkeep might be dealt with under house warranty and will be less likely to happen.

Homeowner’s insurance may also have a tendency to be reduced because of the newness element. On the downside, there’s a high probability that a new building is going to be a part of a locality that’s insured by a Homeowner’s Association and will need HOA fees.

An present house might have a different tax base compared to a brand new structure since the house has been less costly to buy. However, an older dwelling may have more substantial upkeep expenses or require considerable and expensive renovations.

Have a notice of the location. If you’re interested in finding a quaint-tree lined road that’s in walking distance to stores and houses with big yards, an present home could be your very best option.

New structure will be farther from conveniences such as schools and grocery shops as well as many sizes are smaller compared to the typical. Also notice that in case the home which you’re taking a look at is among the very first to be constructed in a brand new area, you might be living in a construction zone to the upcoming few decades.

Design is genuinely an issue of personal taste. Many elderly, existing houses have desired architectural allure including crown moldings and stained glass which frequently can not be seen in a brand new structure.

A recently constructed neighborhood can be built by a restricted number of contractors using just a select few layouts while an elderly neighborhood could signify a decade’s value of design. A new house may also be customized to reflect layout components which make life simple for the busy lifestyle such as having technologies built into the house.

Old or new, Preferred Properties of Texas can help guide you into the perfect home for you. Please call today to get started on your search.

Filed Under: Buying a home, Homes for Sale Tagged With: buying a home, first time home buyer, Homes for sale Stephenville TX, selling homes

Looking At New Homes

December 1, 2020 by chorton Leave a Comment

Looking at a New Home We frequently get ahead of ourselves when looking at a new residence, and if it is beautiful, has sufficient bedrooms and the price is correct, we wish to put pen to paper and make it our own. Rushing into such an important decision and neglecting to be comprehensive can be disastrous, though.

Look closely at how the seller has kept the home and determine whether any issues are problems you’re inclined to accept on. Also get a disclosure statement of any existing issues of which you may not be aware. If you want to obtain the house, stipulate in the contract that the problems be rectified or agree to repair it to get a reduction in the price.

Think about your family’s requirements and how the house may do the job for you. Open stairs into a basement might be impractical when you have toddlers, while a loft bedroom might be a fantastic thing if you have a musical adolescent. You want a space which is reasonable for your family as well as your possessions.

If you would like to get a vegetable garden, a house on a golf course might not match you, but a country cabin will.

Have a tour of this elongated neighborhood. How long will it take you to get into a grocery store or pharmacy? Are there restaurants nearby? Are you currently in a food delivery region? What is the traffic like at different times?

If you have children, research the colleges, child care and recreation opportunities in the area and also think about the protection of the area — both traffic safety and crime.

Preferred Properties of Texas  can help you start the process of honestly evaluating the property to make the best decision for your new home and for your family.

Contact us today to learn more about available homes and property in the Stephenville, Erath County and surrounding area.

For all of Stephenville’s new listings text HOMES to 1-877-965-7775

Filed Under: Buying a home, Homes for Sale, Real Estate Advice Tagged With: buying a home, erath county, first time home buyer, Homes for sale Stephenville TX, Preferred Properties of Texas, stephenville tx

Looking For A New Home?

November 29, 2020 by chorton Leave a Comment

If you looking for a new HOME in one of Stephenville’s residential neighborhoods, or a home with a small acreage, farm, or ranch, then helping you find that “JUST RIGHT” home is our primary concern.

List your home with Preferred Properties of Texas or let us assist you with the purchase of your new home.

Filed Under: Blog, Buying a home, Homes for Sale, Ranches for Sale Tagged With: buying a home, first time home buyer, home for sale, Homes for sale Stephenville TX, landwatch texas, Preferred Properties of Texas, ranches for sale in texas, stephenville tx

Mortgage Help for Homeowners During the Crisis

November 25, 2020 by chorton Leave a Comment

During times of financial chaos and widespread unemployment, then you aren’t alone in the event that you end up worried about keeping up with your mortgage obligations. As per a U.S. Census Bureau poll earlier this season, a quarter of all Americans either missed a mortgage or lease payment, or had little to no assurance that they’d have the ability to make next month’s payment in time.

The great thing is you do have choices if you discover yourself coping with income reduction or struggling financially.

Exactly what the CARES Act Means For You
Lien backed by the national government might be eligible to suspend payments when a borrower is coping with financial hardship
Lenders Won’t charge late fees or report late payments to credit agencies during that period
Foreclosures and foreclosure-related evictions are suspended prior to the end of the year
If a mortgage Isn’t federally-backed, then contact your creditor and inquire about hardship strategies and alternatives

First Things First: Reach Out For Your Mortgage Bank
It’s essential that you don’t assume you’ll be addressed by your CARES Act and simply quit making your monthly obligations even if you’re not qualified for the CARES Act, you likely have more choices than you may realize. Speak to your creditor as soon as you can notify them of any fiscal conditions, and inquire what choices they have set up as a consequence of the present catastrophe. They will likely have a couple alternatives for forbearance or altered loan arrangements for you to think about, though you’ll normally have to submit some kind of documentation demonstrating your financial hardship.

Forbearance vs. Refinancing
Forbearance choices will defer your mortgage obligations to get everywhere from six-12 months, with the knowledge that payment will continue to be due in the conclusion of forbearance. Forbearance isn’t a forgiveness program, but this alternative does leave you with additional money flow during uncertain times. If you cannot settle your missed payments at one time, you could be qualified to generate higher payments for a time period to settle the sum past due. If it is possible to restart your monthly payments in any stage, you might qualify to reevaluate the sum past due until a later date.

Some mortgage lenders will also be offering loan arrangement modifications in that time, many in the kind of a longer-term loan period or a lower rate of interest. Loan modifications make an option that changes the conditions of your loan so as to think of a monthly payment you can spend.

Research Added Options Available to You
There are lots of national, local and state entities offering grants, loans and other assistance programs for homeowners fighting because of the pandemic. Federal and state funds are usually distributed to city and county departments and are frequently dispersed from there to local agencies or financial institutions to handle.

Added resources for homeowners throughout this time:

Gov Temporary Mortgage Relief
USDA Rural Development Programs
Housing and Urban Development Resources for Homeowners
Consumer Financial Protection Bureau Mortgage and Housing Assistance

If you have received help with your mortgage payments throughout the ordeal, continue to carefully track and record your own accounts and statements to be certain they remain error-free. Cancel or fix any automated payments you’ve set up to make certain you stay away from any penalties or fees from your bank. The moment your earnings is revived or in a level in which you feel more comfy, get in touch with your mortgage lender and then resume your normal payment schedule.

Should you strike instances of financial hardship, do not worry –research which apps are available so that you may pick the choice which makes the best sense for you personally. Do not just stop making payments, or you could encounter consequences such as fees, overdue charge, as well as potential foreclosure. Bear in mind that during times of catastrophe, there’s an elevated probability of fraud and spam, so ask questions and read all materials supplied to you attentively.

Filed Under: Buying a home, Homes for Sale, Real Estate Advice Tagged With: buying a home, Homes for sale Stephenville TX, loans, mortgage programs, real estate advice

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