Preferred Properties of Texas

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

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.

Another Great Property SOLD!

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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/

Is It A Good Idea To Go Over Asking Price?

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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.

Suburbs or City Living?

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Some people love the energy and hustle of urban life. Some prefer the slower pace and more tranquility of living in the suburbs. Both lifestyles have their advantages and disadvantages, so there’s no need to judge. It is important to consider your priorities when looking for a home. You wouldn’t want an SUV to drive if you are a sports car enthusiast. A home mortgage is much more expensive than a car payment.

You might be an urbanite, if you:

  • Your nightlife is your life
  • If you have a commute, it is not something you enjoy.
  • Museums, concerts, art exhibitions, lectures, and other events will ring your bells
  • Walking to the corner coffee shop is a great way to get your morning caffeine fix
  • You can connect with nature by taking a walk through the park
  • Your sedan was replaced by a 10-speed bicycle

You might be a suburbanite If:

  • You want lots of yard.
  • You will feel at ease by the sound of cicadas and hoot owls, as well as wind rustling trees.
  • You are into playdates and PTA, as well as other pursuits related to parenthood
  • You can commute to work as long as you have a good audiobook.
  • Block parties and backyard barbecues with neighbors are great ways to spend Saturday afternoons
  • Happiness is closer to nature than you think.

This will help you think about what you want for your home and community. Once you know what you are looking for give Preferred Properties of Texas a call so we can help find a place that appeals you. 

Should We Sell?

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Are you thinking of selling your house? Do not wait too long to sell your home. It is common for people to not plan to live in their first, second, or even third home for ever. However it can be difficult to know when it is time to sell.

It can feel almost like you’re breaking up with your long-term boyfriend or girlfriend. You knew deep down that you would not be with this person for ever, but it can be difficult to let go.

Sometimes, life happens. If you are moving to another state or know that your twins will not fit in your tiny bungalow, there is no reason to feel self-doubtful or anxious. It can be difficult to tell when your home is out of reach if you don’t have a pressing reason.

You have outgrown your home: You may need more space because your family is growing with a new spouse, children, grandchildren, or the elderly. Either you can’t add on or the house won’t increase in value.

Your lifestyle has changed: Perhaps you are a freelancer or have an extended family of indoor cats.

You are looking for a new community: Perhaps you notice an increase in crime or you are frustrated by your HOA. No matter the reason, it’s a great time for you to move if your house is in poor condition.

The nest is empty: Perhaps your children have moved out and you have several bedrooms and playrooms that are collecting dust. Or maybe you travel more and don’t want to deal with the hassle of maintaining a large home.

Remodeling your home won’t bring you a return on investment: It is usually worth the effort to renovate a portion of your home. However, sometimes it doesn’t make financial sense. You may find the perfect home if you are looking for an updated kitchen.

You desire a shorter commute: The 40-minute commute to work may not have seemed like a major issue in the first few years. But now it is. You might also notice that your children are growing older. This can cause problems if you don’t live in the right place.

You can afford to buy: While you will make money when your house is sold, you must have the money to do so. Make sure you have enough money to sell your home. To get a fair price for your home, most sellers will need to make minor repairs such as landscaping or flooring changes.

READY TO SELL? We are here for you and your family! Contact Preferred Properties of Texas today!

 

Preferred Properties of Texas

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