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Questions To Ask A Realtor When Selling Your Home

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You should hire an amazing real estate agent if you are looking to sell your house. There are some questions you should ask to ensure you find the right person.

You are smart to be selective! An excellent real estate agent will help you find buyers to quickly and for more cash. Your listing could be lost if you make the wrong decision. It’s not pretty when low-balling bargain hunters start to circle.

These are the most important questions you should ask your Realtor about selling your house, from listing costs to sales plans.

Do you have any credentials? When you are looking to sell your house, make sure to hire an agent with a license from the state and is a member of the local realty trade association. They will be able to list your property anywhere in the world, thanks to accessing the Multiple Listing Service . You may also want to search for someone who is a member of National Association of Realtors (r). This requires additional training and compliance to a code of conduct.

What number of sales did you close last year? A real estate agent’s past performance doesn’t guarantee a quick sale. However, their track record of success with sellers and buyers is a guarantee that they are professional professionals who will be able to sell your home. Ask potential agents how many clients they have worked with and the range of homes they sold. It is important to find someone who can accurately estimate the value of real estate features for buyers within your income range. It is also a good idea to seek out recommendations from past clients.

Are you a local expert? A local expert can make a big difference for sellers. Local agents will know about any developments in the area and plans for shops or other amenities that could affect the property’s value, the speed at which it will sell, as well as the likely price. They will also be able to tell you what local buyers are looking at real estate.

How do you determine the listing price? The discussion about pricing your home and the ability of your agent to find a listing prices that are appropriate for your local market is one of the most important things sellers need to do. If the property is priced too high, it will be difficult to sell and may turn away potential buyers. However, if the home is priced at an acceptable level, there might still be money available. Your agent should be knowledgeable about the market and recent sales of similar properties. This will allow you to arrive at the best price for your real estate transaction. Ask questions about the process of determining a list price.

What kind of person will I be working alongside? It is important to determine if you will work with a single agent or a team member. There are pros and cons to each scenario, so be sure to ask lots of questions. Agents work with clients in different ways.

What is the cost of selling my house? Ask questions about the costs you, the seller, will pay in the realty transaction. This will allow you to plan accordingly and compare each agent. These costs should be included in the listing agreement.

What is your selling plan? A great agent will have a written plan to sell your house. It should include a plan that describes the marketing strategy for your property in order to attract buyers. This could include open houses, listing services, and social media. This will ensure that you get a high selling price.

What can I do to make my house ready for sale? Find out what advice the agents have for you regarding repairs and upgrades, or how they can help you make your house more appealing to buyers. Ask them if they recommend staging or just a cleaning and decluttering. Ask about their availability to work around your schedule, and the preferred times and days they prefer to show houses.

How can we communicate? It could be a problem if you are a texter but your agent prefers long phone calls. You might also prefer a personal touch to an email over a phone call. It is important to know how and when you communicate with your agent. You should also make sure your agent is available to answer any questions you may have.

What is the time frame? Although no agent can predict how quickly the sale or full real estate transaction will proceed, they should be capable of giving an estimate on how long it will take for your house to sell. It takes on average 65 days to sell a house, but this depends on where you live.

Preferred Properties of Texas is here to help you with all your real estate needs and solutions. Connect with us for the answers to your questions.

 

Original blog: https://www.realtor.com/advice/sell/questions-to-ask-real-estate-agents-when-selling/

You Can Prepare Now For A Busy Housing Market This Spring

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SPRING 2022 HOMEBUYING SEASON PREVIEW

Main Takeaways for Buyers

  • Low housing inventory and high demand will create a strong seller’s market, but not as intense as the peak of 2021.
  • Home prices are expected to continue rising, but at a slower pace than last year.
  • To avoid house buying FOMO (fear of missing out) and panic buying, know what you can afford and stick to a realistic budget.

Main Takeaways for Sellers

  • It will still be a strong seller’s market, but compared to 2021, there will be a smaller likelihood of a bidding war driving up your sale price.
  • Get ahead of preparing to sell your home. Repairs and upgrades are taking longer to schedule and complete due to shortages of supplies and labor.
  • All real estate is local. Some markets, or sub-markets, may be stronger or weaker than others.
  • Work with a local real estate professional that knows your targeting market.

The 2022 real property market looks more normal.

The busy spring homebuying season is approaching. Homebuyers will still face a difficult task, but it shouldn’t feel like 2021.

According to the latest data from the S&P Case-Shiller National Index of Home Prices, home values have risen by almost 20% since 2021. Although housing prices are not expected to fall this year, they should slow down. Experts believe that home values will rise at half of the rate (single digit increases) seen during the peak in 2021.

Although buyers may still be in bidding wars they are less frequent and intense. This means that sellers might not be as selective in choosing from offers. To win the bid, all-cash offers or conventional loans without appraisal contingencies were common in 2021. You may be able, as a buyer this year, to be more flexible in terms of your purchase contract even though you won’t necessarily get a price reduction.

The seller’s market will persist into the 2022 spring homebuying seasons, but that it should be less competitive than in the past spring. The spring season will be high-demand. It’s going to be different than 2021 when the supply was out of control with the demand. Predictions are that spring will be the most busy season for real estate. While the number of homes available for sale will increase over 2021, it is still likely to be lower than usual. Bidding wars will continue for buyers, but not as frequently or as intensely.

Mortgage interest rate could rise, which could impact your purchasing power. Understanding your financing is essential. This means it is important to know the limits of your homebuying budget. You might be eligible for a loan amount greater than you are comfortable with. However, you don’t want get involved in a bidding war that could lead to a higher monthly payment.

Sellers should plan ahead for any maintenance and upgrades before you put your house up for sale, especially if you don’t have the time or expertise to do it yourself. Due to supply chain problems and labor shortages, renovations and repairs must be planned far in advance.

This means that homebuyers need to be focused on the essentials of why a home purchase is the right decision for them. You can make it work with your timing. If your family situation and employment status allow it, it is a good idea to buy. It is a risky endeavor to predict the future market. Even if home prices fell, mortgage rates could increase, making it more expensive to buy a house.

The rate at which home prices appreciate should slow down but stay positive until 2022’s homebuying season. The main driver for house price growth will be the shortage of homes to sell relative to demand. The prime years for millennials are now, and there hasn’t been enough housing built to meet the demand.

Buyers who are looking to make a move in the coming year will want to prepare well in advance. To make sure you know what your home purchasing budget is, you need to create a plan. The decision to buy a home is not just about financial decisions. It is also a lifestyle decision. It should be a sensible decision for you and your financial situation.

It shouldn’t get as hot as the 2021 peak frenzy. Expect a slowdown in the rate of home price appreciation. We may see a decrease in the 20-21 price growth to 20%. Instead, home price appreciations will be in the upper single figures, somewhere around 7%-8%. This is historically a very, very strong, but not as strong as ’21.

This means that this year will still remain a seller’s marketplace. Timing the market is not recommended as home prices are expected to appreciate. However, this doesn’t mean that you shouldn’t spend more to buy a house now than you need. Don’t rush to make a decision in a hurry. You should take the time to search for a home that you can afford over the long-term and that will comfortably fit your lifestyle.

Good news for sellers: Buyers looking for homes will outnumber those for sale. Although home prices are expected increase, real estate is highly local and the demand for homes can vary from one area to another. To determine the best listing price for your property and to assess if there are any repairs or improvements that need to be made before placing it on the market, it’s a smart idea to consult a local realtor.

The best time for your home to be put up for sale is when there is the most demand. This is typically between February and May in many markets. It’s when families are looking to relocate after the school year.

Mortgage rates will rise in the coming months. Home prices are expected to increase so it is important to start planning financially well in advance. Your credit score will help you qualify to get a low mortgage rate. You will need to save for a down payment and closing costs . Unexpected repairs and maintenance are also important. It’s a great time to look into first homebuyer programs. If you are eligible, these programs can help with your down payment and closing costs.

Although most markets for housing will remain competitive, some areas may be more difficult than others. The flexibility to work remotely could increase demand in certain areas. It could be attractive to live in areas close to major cities, but only an hour or so away. These types of areas will appreciate more quickly. This is an important point to remember when deciding where to buy.

First-time buyers who are looking for affordable homes might also be in greater competition. The starter home price range is one of the most difficult segments in the housing market to enter. A large number of people are in the prime first-time buyer range. Builders have not been able to build enough homes that will be affordable for them.

It’s still a strong market so you need patience as a buyer. It’s not a good idea to rush buy and regret buying . You may be able to choose where and what type of home you want, but you might not have the same demand in certain areas. A condo or townhouse located a little further from the place you initially planned to move could be cheaper than a single-family house in an urban area. While you may not find the perfect home right away, a home that is suitable for your needs can serve as a foundation for a future home.

Original Article:  https://time.com/nextadvisor/mortgages/mortgage-news/sping-2022-housing-market-predictions/

Spring Housing And What To Expect

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You want to be prepared for the spring housing market. There are many factors that can cause uncertainty such as the conflict in the Middle East, rising inflation and the first rate hike from the Federal Reserve over three years , but the housing market seems relatively stable.

Here are some predictions from experts about spring.

Mortgage Rates Will Rise

Freddie Mac The 30-year fixed mortgage rate increased by more that a full percentage in the last six months. Experts believe that rates will rise over the next 90-days, despite mild fluctuations in recent week.

If you are a first-time buyer, or a seller looking to move into a better home, you should know that you will pay a higher interest rate if you wait. This higher rate can increase your monthly payments and add up over the loan’s life.

Housing Stock Will Rise

Buyers looking for homes to buy may find some relief. Realtor.com reported recently that the number new homes increased for each of two months. The National Association of Realtors just announced that the month’s supply of inventory increased. This is the first time it has happened in eight-months. Based on the activity in recent months, it appears that the inventory of existing homes will grow every spring.

It looks like buyers who are frustrated by the lack of homes for sale could be able to find relief this spring. If you do find the perfect home, it is important to act fast.

Listing now is better than waiting for more competition if you are a seller. As more homes are added to the market, your leverage in negotiations will be affected.

Home prices will rise

Supply and demand determine prices. Despite the increasing number of homes on the market, buyer demand is still very strong.

What does this mean for you? Home prices will continue rising as the demand for housing continues to outpace supply. Experts believe that the rate of appreciation will decline from the double-digit highs we have seen in the past two years. This means that prices will continue rising, but at a slower pace. Experts predict that home prices will not fall.

Will Increasing Mortgage Rates Not Cause Home Prices to Fall?

Experts disagree with the belief that a 1% rise in mortgage rates will cause home prices to drop.

If you are a first-time or repeat buyer, you will likely pay more to buy a home late in the year if you wait.

Three things seem certain about the spring housing market

  1. The mortgage rates will continue to rise
  2. There will be a slight increase in the number of homes for sale
  3. The pace of home price appreciation will be slightly slower, but it will not stop.

You should act quickly if you are thinking about buying a home. Selling is a good option if you want to beat rising competition. Contact Preferred Properties of Texas to speak with one of our knowledgeable agents today! 

 

Original Blog: https://www.keepingcurrentmatters.com/2022/03/24/what-you-can-expect-from-the-spring-housing-market/

New Year’s Resolutions That Can Help You Buy a Home

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New Year, new home! To improve your chances of buying a home, you need to get your financial records in order.

Are you thinking of purchasing a home in the new year? Five New Year’s Resolutions to help you maintain a strong financial record are listed below.

1. Avoid job-hopping

When evaluating mortgage applications, lenders will look closely at income and employment history. While a new job can be a great career move, if your goal is to purchase a home in 2019, it’s important to know that some lenders may not approve of job hopping, especially if the applicant is moving to another industry.

It is ideal to have a steady job history with few, if any, gaps in employment in the last two years. This allows lenders to better predict your future income.

Notify your lender immediately if you find a job that is not related to home-buying. This doesn’t necessarily mean that you will not be eligible for a mortgage. However, be prepared to provide additional documentation.

It may be beneficial to your application if you are moving from an hourly or commissioned job to one that is salaried with the same or higher compensation. Lenders prefer that borrowers have steady, predictable incomes.

2. Subscribe to a limit on monthly services

Although monthly subscriptions are convenient, they can be costly. Even if you make your monthly payments on your credit card, your credit report could be pulled at any point during your credit cycle.

Consider reducing your monthly subscription if you are thinking about buying a house this year.

3. Credit history building

Your credit history is one of the first things that a lender will examine. Lenders favor borrowers who pay off their credit cards and other debts on a timely basis. This signals that they are more likely to approve you for borrowing.

It may be more difficult and time-consuming to secure a home loan if you don’t own credit. A history of paying rent and utilities on-time, along with student loans debt and cell phone bills can show potential lenders that you are capable of managing monthly payments.

4. Verify your credit

Your credit score could have a major impact on your ability buy a house. Low credit scores can have a negative impact on how much money you are able to borrow from lenders and your interest rate.

A few percentage points difference in the interest rate could cost you thousands of dollars over the loan’s life. To avoid any unexpected surprises that might delay your loan application, be sure to monitor your credit, particularly for fraud.

Many financial websites provide credit score monitoring. You can also get a complete credit report once per year if you are unsure about your credit score.

5. Avoid large purchases

Before buying a house, avoid taking on excessive amounts of debt. Even if you are preapproved, this is a good idea.

The ratio of your income to debt, which is how much you earn compared to the amount of debt you have, will impact how much money a lender will lend you. A lower debt load can make home-buying easier.

Like proofreading your resume before applying for a job, a clean financial resume can improve your chances of purchasing a home.

When Your ready for your NEW HOME give Preferred Properties of Texas a call. We are here for All Your Real Estate Needs!

 

Orignal blog: https://clarkwilsonbuilder.com/5-new-years-resolutions-that-can-help-you-buy-a-home/

 

Preparing For Homeownership While Renting

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While you may not be ready for your first home purchase, it doesn’t mean that you shouldn’t start planning now. Here things you can do while renting to help you be in a better place when you’re ready for buying.

Although you cannot predict every cost of homeownership, you can make a rough estimate about how much it will impact your budget. A REALTOR(r), can help you determine how much you can afford, what your mortgage payment would be, local property taxes and any repair costs that you may want to consider as a homeowner.

Request a free credit report before you apply for a loan. You can correct any errors in your credit report before they impact your eligibility for a mortgage loan. You might also be able take steps to improve credit before you purchase a property.

Although there is no home that offers every amenity you need, you can get a good idea of what you are looking for. A home with less than two bathrooms might not be an option, but you may find the value in a home with a smaller kitchen and a less appealing exterior.

When your ready to buy a home give us a call, we can answer your questions about the home buying process and help you avoid surprises along he way.

 

Original Post At:  https://www.texasrealestate.com/members/posts/3-ways-to-prepare-for-homeownership-while-renting/

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

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