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.

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.

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!

 

Pricing Your Home Matters

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Recent real estate activity has been explosive and will continue to be well into the summer. Many new homes sell quickly, often within days of listing. Sometimes they even sell for more than the asking prices. While sellers are clearly in control of the market right now, that doesn’t mean they can speed. These are just a few of the reasons pricing is still important in a seller’s marketplace.

It’s easy for dollar signs to appear as the inflating home sales prices continue. Why not list if the market suggests you can get more than your house’s worth.

It alienates potential buyers. Buyers are already at disadvantage in today’s market. By offering your home for a high price over market value, you could be attracting buyers who have less spending power

An honest price allows for bidding wars – yet another reason pricing is still important in a seller’s market. Multiple buyers will compete for your home, which is a valuable commodity in a low inventory landscape.

There will be a constant stream of offers trying to outdo each other in competition. This is unless the bids are forced to begin at an artificially high price with a high asking price. Although more options can make it more difficult to choose the right one, choosing the right agent will make it much easier. It is often in your best interests to start a bidding war.

It’s possible that your home will sell quickly even if there isn’t enough inventory. It is still a risky move. Your agent’s market knowledge and expertise will help you ensure that your home is priced fairly, taking into account many factors such as location and condition.

An increase in price can keep gun-shy buyers away and put your home on the market longer. You don’t want your home to sit still, especially in a market where homes are being sold quickly.

Want to know more about why pricing still matters in a seller’s market? Contact one of our real estate agents!

 

JUST SOLD! 1030 Cr 475 in Stephenville, Texas

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Would like to congratulate our clients on the closing of their new home and thank you for giving Preferred Properties of Texas the opportunity to work with you. We hope your new home provides you years of enjoyment.

Looking for that special home to buy or ready to sell the home you have taken such pride in over the years?

Preferred Properties of Texas is here for you!

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

 

Upgrading To A Bigger Home

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For those who have always wished to live in a larger house, then you might be asking yourself when the perfect time is that you maneuver. Larger homes are more costly and require more upkeep. But you might be at a stage in your life financially in which you are prepared for a larger location.

Your existing home might not match your needs, in case your family is still growing. If you are expecting another child, then you are going to require a house with additional rooms. You will also need a house with additional storage space and baths. This is sometimes an extremely frequent reason people attempt to update their houses. By assessing in your region, you may begin to organize your budget before the arrival of your child and ensure that an update is ideal for you.

A lot of men and women go to a more compact home, since that’s all that they could manage. But if you’re able to manage to move to a larger area, now might be the opportunity to perform it. In case you’ve saved a substantial sum of money or are getting more income than you used to, then you can probably deal with the fiscal responsibility of purchasing a bigger house.

When thinking about this kind of move, be certain that you check at a nicer place, for example with better schools and other community opportunities.

Many people are working from home these days, and among the secrets to successfully working in your home would be to get the ideal space. That is the reason you might require a bigger house. Most small homes don’t have sufficient space to accommodate a house office or the area to get a table.

If you reside in a larger house, you may convert a living space into an office area. This may be particularly beneficial if you’re thinking about starting a company, as using a room in your house to perform this can save a great deal of money on lease.

You will love your present residence, but it can be time to search for something somewhat bigger. If your family is growing, it can be time to get more room. Moving to a larger house is also a fantastic idea when you’ve got the funds. Furthermore, a new, bigger house may be a huge help if you work at home and require designated office area!

When your ready to move to that bigger home, give Preferred Properties of Texas a call. We are here for all your real estate needs!

Preferred Properties of Texas

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