Preferred Properties of Texas

The Preferred way to buy & sell property for over 25 years

Why Sell Your Home Alone, An Agent Can Help

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Partnering with a professional real estate agent is something to think of if you want to maximize your sale and minimize the effort. You might be tempted to list your house by yourself in a seller’s market, such as today’s. However, it is possible to save money by hiring a professional real estate agent to manage every step of the process from the pricing of your home to the review and negotiation of documents.

A great agent will make a good first impression.

Preparing your house for selling takes a lot of effort and time. To make it stand out it takes experience and knowledge of the needs of buyers. A real estate agent will consider:

 removing personal art and photos, the amount of landscaping put into your home to increase curb appeal, and which wall colors appeal to buyers the most.

Expert real estate advisors uses their expertise to make sure you don’t waste your time and money on the wrong investments. It is important to not waste your money and time.

Agents offer tools that will maximize the number views for your home.

The simple truth is that the more buyers view your house the greater your return. According to latest data of the National Association of Realtors (NAR), homes receive 3.8 offers an average per sale in today’s market. It’s a good sign that your home is on the market. However, it’s important to know your agent’s role in bringing potential buyers into your home.

Agents have many tools at their disposal, from social media to agency resources. This will ensure that more buyers view your home. You may also be able to increase your home’s value by leveraging the expertise of your agent.

A good agent won’t leave anything out.

You can save time by having your agent take all the guesswork out and navigate to the necessary documentation. Today, there are more disclosures and regulations, which means that you will need more legal documents.

There are so many details to consider, it can be overwhelming to fully understand them all. An expert advisor is the best way to shine. An expert advisor has been through this process before and can guide you to avoid costly errors.

Our experts know the market and how best to price your house.

A way that your agent can maximize the sale price of your home is to make sure it’s correctly priced. Real estate professionals can compare your house with similar properties in your neighborhood. They can also help you to factor in any home improvements. This combination is key to making your home move-in ready – at a reasonable price.

FSBO is a way to operate without expert knowledge. Even with your own research, it’s possible to miss the most recent information and set a price that is inaccurate or unrealistic. A house priced too high could cause buyers to walk away before they even get inside the door. This could also lead to problems during the appraisal.

Your agent is an expert negotiator.

Real estate professionals have the ability to negotiate all aspects of a deal. This is in addition to their extensive sales experience. They know all parties that are involved in the sale, including:

  • The buyer is someone who wants the best price.
  • The buyer’s representative who will use his/her expertise to advocate on behalf of the buyer.
  • The inspection agency works for the purchaser and almost always finds problems with the house.
  • An appraiser who evaluates the property’s market value in order to protect the lender.

A good agent will rely on their knowledge and training to make the best decisions during negotiations. They will be able to tell you what levers to pull and how each individual should be addressed. Selling your house to FSBO will require you to be able to have these conversations by yourself.

Don’t go at it alone. If you truly want to maximize the sale of your home, give us a call. We are here for all your Real Estate Needs!

 

Link to original post: https://www.keepingcurrentmatters.com/2021/09/29/dont-tackle-selling-your-home-on-your-own-an-agent-can-help/

What’s Ahead For Texas Real Estate In 2021-22?

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Researchers at the Texas Real Estate Research Center see a more stable Texas housing market ahead, as soon as pandemic-induced home shortages dissipate.

Good article to read from The Texas Real Estate News Center click on link below:

https://www.recenter.tamu.edu/news/newstalk-texas/?Item=26340

 

What Can Affect Your Home Value?

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Real estate experts know that homes in desirable locations or within the boundaries of top schools will sell at a higher price. The location is an important factor in determining the price of homes. What are the factors that can lower the home’s value? What makes a neighborhood less desirable?

Bad Schools. Young families are looking for homes that are zoned for the best schools. Homes with low school ratings aren’t highly sought-after. Property values are affected more by living within the limits of schools with poor ratings than any other factors. According to Great Schools, the median home price for zip codes with schools rated 1 through 3 out of 10 is $155,000.

Strip Clubs. This one seems to be the most expected on this list. A young family would not want to live near a club with an adult theme. These clubs often have loud music blasting and unsavory people hanging out outside. Realtor.com surveyed many areas with strip clubs in large metropolitan areas. One neighborhood had 10 clubs. Washington Park, East St. Louis, IL. This neighborhood has only seen a few homes sell in the past three years, and the median home price is $10,000.

Lots of Rentals. Is it possible for a neighborhood with high levels of rental units/buildings to lower its property value? Although it is difficult to do an exact analysis of this factor, the research revealed that higher property values were associated with areas with more rentable homes.

Homeless Shelters. Shelters for homeless people can often be seen as the unloved misfits of a community. Although there isn’t any hard evidence to prove that homeless shelters bring in more crime than others, shelters can attract a diverse group of people and emergency calls numbers go up in areas close to shelters. The property values of areas with homeless shelters are almost 13% lower than those without them.

Cemetery. Cemeteries can be quieter than other neighborhoods, but there are still people who don’t want to live in close proximity to the living. The median home price in zip codes with cemeteries was 12% less than the neighboring zip codes.

Factors that Bring Down Value less than 10%

These last factors  bring down property values less than 10%, but are still worth noting.

  • Funeral Homes- 6.5%
  • Power Plants- 5.3%
  • Shooting Range-3.7%
  • Hospitals-3.2%

While location is important when it comes to real property, there are many other factors that can help homes sell for top dollar. With the help of an expert selling agent you can get your home sold for a great price.

Things To Consider Before You Sell

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Is Remodeling Worth The Time & Money? Be aware that your 1970s bathroom may not be able to be recouped when you sell. Certain remodeling options can make it more difficult to sell a house, like materials that are out of fashion. To attract reasonable offers, additional upgrades might be required. Other factors include the condition of nearby houses for sale, the range of their prices, and whether current conditions favor a seller’s or buyer’s market.

What Can Help My Home? It doesn’t matter how big or small your home is, its location, price, and size, it’s important to keep it clean, tidy, neat, and free of minor nuisances. A few plants and new paint can make a great first impression. Sticking doors, overgrown lawns, and dripping faucets could turn off potential buyers before they even give your home a chance.

Don’t Underestimate The Significance Of This?  Your asking price is perhaps the most important factor. An excessively high price can discourage offers and make the property unsellable. A lower number could spark bidding wars that result in offers much higher than you ever imagined. Price may be influenced by market conditions or time constraints.

Thinking of selling your home? It’s time to rely on the local experts- we’ve got your back! Call Preferred Properties of Texas for all you real estate needs!

Housing Shortage May Finally Be Starting To Lift

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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.

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

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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.

Preferred Properties of Texas

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