Preferred Properties of Texas

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Fix Up Your House Before Listing Or Sell It As A Fixer Upper?

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If you are thinking of selling your home, this is probably a question you have been asking yourself and your realtor. There is not any hard and fast answer; the path you go will depend on numerous factors, the most important of which are: the condition of your house, the potency of the market in your area, and the possible gain to be made with and without upgrades. These tips can help you decide whether to sell now or later.

Consider your buyer
The words”fixer upper” might actually be a selling point for some buyers who perceive they are getting a deal, who are especially looking for something they can put their postage, or who simply can not afford to purchase something turnkey. The marketing your agent does is key here so you don’t end up with nothing but unacceptable offers.

“In almost any marketing communications enclosing a fixer-upper, it’s important to remain focused on value,” stated ExtraSpace. “Prospective homebuyers are aware that a fixer-upper will market at a lower price point than more contemporary houses on the market. But that does not mean that you have to accept a lowball offer. Rather, highlight the home’s investment possible by reminding buyers of the future sale opportunities after the house was remodeled.”

If your home requires A LOT of work and also you can’t, or don’t want to, put the time, money, and effort into getting it in prime condition, targeting investors could get it sold quickly. “A couple of decades past, a previous customer called to say her next-door neighbors necessary to immediately sell their property. “The home appeared inhabitable. It had holes in the walls all the way to the outside and urine-soaked wood flooring; many of the electric did not work and the bathroom tub had dropped through the joists. Each of the faucets leaked and, in one bedroom, I found a pile of dead rats swept into a pile in the center of the ground. This was not a home that could be readily fixed up. Not even a coat of paint would have helped sell this location. We priced it low enough that it attracted multiple offers and sold with zero days on market.

Since flipping is much more popular than ever, a house that needs work – especially certain kinds of work – may be attractive enough to investors which you don’t have to do any job in any way. “A fantastic rule of thumb: If your home needs toilet or bath remodels, a new roof, or base repairs, there’s an 80%-plus chance your purchaser will be an investor,” Bruce Ailion, a broker and REALTOR® in Atlanta, said on Realtor.com.

Obtain an honest assessment – and be able to hear it
If you’ve lived in your home for quite a while and/or have not kept up with upgrades and fixes, your real estate broker’s assessment of its condition and the recommendations he or she makes to get it market-ready might be eye-opening. They might also make you mad. Try to listen to and keep an open mind, even in the event that you are feeling offended. In the long run, you share the same goal, which is to get your home sold for the best possible price.

Be sensible on pricing
“Finding out your home’s value is not as straightforward as subtracting the cost of repairs from your home. In addition, you have to factor in’annoyance expenses,’ said Ailion. “Quite simply, turnkey homes often sell at a premium to traditional buyers because they do not have to do some work. If your home requires some sprucing up, you’re likely going to get to incentivize buyers to dig in and get their hands dirty.”

It can be that fixing your home up makes the most sense because of the financial upside. In presenting you with comparables, your real estate agent should be able to show you other properties in your area in varying conditions (depending on the amount of active listings or recently sold homes around you). This will help advise the pricing for your house and give you some idea of how much you’d have to put into it to get high dollar.

Choose your updates wisely
A 30,000 kitchen renovation may not be in the budget and may not give you the return on investment you’re looking for, but there are smaller updates you can do to your own kitchen to make it appear fresh (and, you can use the same principles in other important places, like bathrooms). Better Homes and Gardens includes a great collection of upgrades you can make for under $2,000, including hanging a ring which”illuminates the sink region” and swapping out a tired sink for a”farmhouse sink (this ) adds personality to the space.” Also think about painting cabinets and installing new hardware, also, if you’re up to the task, including an eye catching backsplash.

Make necessary repairs
Investors aren’t expecting perfection, and their supplies will be dependent upon the state of your house and the potential profit they can make after it’s fixed up. Non-investor types searching for a deal may not necessarily be scared off by some cosmetic problems, but significant repairs which are required are yet another story. If you’re looking for the smartest place to set your pre-sale renovation dollars, this may be it.

WAYS TO INCREASE YOUR HOME’S VALUE

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Looking for some ways to increase the value of your home? Whether you are thinking about listing your home for sale, or you’re interested in putting a fresh face on your home you proudly own, consider these ways to increase your home’s value:

1) Repaint your front door. A fresh coat of paint can add personality, hide scuffs and dirt, and give your home an entirely NEW curb appeal. This weekend project is inexpensive and a great way to increase your home’s value!

2) Spread some fresh mulch in your front yard. It’s an inexpensive and high-impact way to improve the look of your landscaping. Cover up the gray, weathered mulch covering your shrubs now – it will do wonders.

3) Paint your kitchen cabinets. Are your cabinets needing a fresh stain or paint? This can do wonders for the overall color of your home – painting old cabinets a light cream color can have a brightening affect on your whole house.

4) Update (or paint) your hardware in bathrooms, kitchens, on door handles, light fixtures… think dark on white, modern paired with rustic.

5) Add crown molding… this gives a home a warmth and some character. Consider crown molding in your living room – the difference it makes can be shocking.

6) Turn any room into a bedroom by adding a closet. If you have an opportunity to create a true “closet” in an office or spare room, DO IT because adding a closet to a room means adding a bedroom to the total bedroom count of a home. This expands your reach on search engines and can draw in an entirely new group of buyers.

7) Add visible storage. Floating shelves in the kitchen, bathrooms, laundry rooms can be a simple weekend project that turns out to be “so worth it” and not just for re-sale purposes. Chances are, you have something on the floor in your laundry room which could be hung up.

8) Swap out your outdated light fixtures with fresh new ones adding personality and color to any room!

9) Go for neutral paint colors if you are planning on re-painting -light, airy colors that go with anything. Avoid anything evoking one certain season (rich reds of winter, dark browns of autumn) and remember to paint your trim something complimentary.

10) Update window frames. Consider adding crown molding to the tops of your window frames; this has a HUGE visual impact and costs less than adding crown molding across your entire ceiling.

11) Add mirrors to your wall decorations, this makes the space feel bigger, plus mirrors are neutral and sure to please anyone’s tastes.

12) Rather than removing an older bath tub, consider painting the one you currently have. This less expensive alternative LOOKS like a new bathtub (especially if you update hardware).

 

Hopefully these ways to increase your home’s value proved helpful! Call our Real Estate Team, Preferred Properties of Texas, for more information about listing your home for sale. 254-965-7775

 

Exterior Upgrades to Refresh Your Home

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When it comes to owning property, it’s the tiny details which make all of the difference. There are small, easy, and cheap things you can do to make your house a more pleasant place to live in and consider. Or, if you choose to go large, some shrewd investments may make your house both look better and increase its value.

However big or small your budget is, this guide will provide you a few suggestions about the best exterior upgrades to refresh your home’s outside and make it appear nicer and more precious than before.

Get a brand new mailbox

When considering repainting the outside of your home, the mailbox is frequently overlooked. However, consider how much spice just a fresh coat of paint brings to a old rusty mailbox.

You can either repaint the existing mailbox or build a brand new one from scratch. If money is too tight, there’s absolutely no shame in buying a new one.

Paint the front door…

Another thing that can be freshened up by a new coat of paint is your front door. This is a very simple DIY project which may be finished within a single weekend.

Just remember that the style of your residence and the overall aesthetics you are going for, and you’re ready to go.

…Along with the deck, too

Now that you have the entire vision of how your home will look and the whole color palette in your mind, show your deck or porch some love, also.

As it’s totally open, a deck may benefit from a fresh coat of paint more than the usual porch. Additionally, if you like the weathered appearance and patterns, you could just go over it with some very clear color and maintain the look you’re used to.

Update your house numbers

Updating your home numbers is yet another way for you to rejuvenate your house’s exterior without costing too much. Head to your regional arts and crafts store and find beautiful wooden or metal numbers for a quick DIY project.

A brand new home number is a excellent way to maximize your home’s curb appeal.

Add some lights

This is an update that will be visible only during the nighttime , but a well-placed mild or 2 (or six) can make the appearance of your house pop.

Add soffit lights to highlight the house’s design, floor lights to accent trees or high bushes, and a few porch lighting to make a welcome glow near the front doorway. Look at adding light near your house’s number sign, too.

Make the place more flowery

Flowers make everyone happy and create your area prettier. A pleasant, well-maintained flower garden will make your home stand out from the remainder.

If you aren’t that into gardening, a few permanent planters at the front of the house can be enough to do the trick. Planters provide a four-season opportunity to decorate the outside with timely color and accents. Besides, those planters’ color can be exactly what you need to add some spark and personality to your home.

Upgrade and update the rainwater products

However, replacing the constant spouting, downpipes, and rainwater heads may bring a completely new look for your house’s exterior.

The one thing that you ought to pay extra attention to is the longevity of the materials that you select. Cast iron has a mean lifespan of 50 decades, PVC 30 decades, aluminum 40 decades, zinc 50 decades, and lumber, based on the species, will last on average for 40 years if it’s been maintained correctly.

Go green

Another investment which will bring you benefits for many years to come is spending money on a green addition to your home.

Update your outside home with eco friendly amenities like a green roof with vegetation or get solar panels and landscape lighting powered by solar energy and reclaimed materials for your home’s exterior. These add-ons may add value to your home.

Add a bird feeder

Here is another economical yet efficient way to make your area more lively. Add a bird feeder for the birds to visit near a kitchen or living area window, and it will brighten your day.

If you’re crafty, construct it by yourself, or think about buying a bird feeder. Should you search for one, hunt for an alternative that has anti-squirrel capabilities.

Install a leading door kick plate

A kick plate includes a wide strip of glistening metal positioned horizontally across the bottom edge of a front door to protect it from scratches, kicks, and puppy paws.

Replace your old kick plate using a fresh one, or put in a kick plate if you haven’t used one before. They are decorative as well as functional.

If it comes to choosing the material for your own kick plate, brass is the conventional choice, but nowadays pewter and antique bronze are popular choices.

Think about placing a log cabin into your backyard

If you’re interested in a way to add some critical value to your property, consider adding a small log cabin to your lawn.

Log cabins make for a wonderful home office or a home gym. They are also a wonderful way to add extra rooms to your place without creating a significant investment. On the other hand, when and if you choose to sell your house, it is going to boost its total value and marketability, even when prospective owners elect to use it like a tool shed or plain storage space.

If you are thinking of selling your home in Stephenville after these refreshers are done then check out this post about get your home ready for sale.  Then when your ready to sell contact Preferred Properties of Texas.

 

The Home Upgrades That Pay Off

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At some point or another, virtually every real estate agent was asked by their customer regarding what home updates they can make prior to listing for the greatest impact. After all, everyone wants to find the most potential out of their home, sell it quickly, and finish the home sale process with no major surprises or headaches. The best way to achieve this is by finishing strategic updates that net the highest return on investment (ROI).

As any long-time realtor may tell you, attempting to close the deal on a house with a leaky roof, even a deceased air conditioner, or a slab leak is extremely hard. All these major problems can instantly endanger any house sale. Outside of very particular conditions, most buyers will shout at closing to a home with thousands of dollars in repairs that are needed. They will likely ask your customer to make the repairs prior to closure, knock the price of the repairs from their listing price, or most likely–determine this is all too much trouble and straight out of the deal altogether.

So, what exactly counts as an”key”? Basically, consider anything which may appear as a significant red flag in the buyer’s home inspection, or that you need to disclose based on local or state laws. Homebuyers and their representatives expect a house to come with minor defects and standard wear-and-tear. In this scenario, have your homeowner local plumber out for repairs. Whatever the price of dealing with the plumbing issue is now, it is well worth it.

If you’re working with a homeowner who is prepping their house for list, inquire about these possible deal breakers ahead of time. While fixing a slab escape or addressing structural damage may not be as sexy as an upgraded kitchen or master toilet, you and your client need to remove as many red flags as you can from the property ahead of listing. In the event the homeowner’s budget only allows for all these vital repairs, then prioritize them more than other updates.

Kitchen Remodels:

Assuming that all the essentials check out, a homeowner seeking to add value to their home should next turn into the kitchen. Kitchen remodels are among the best home projects for lasting return-on-investment: homebuyers, just like us, enjoy remodeled kitchens and dining areas. If your customer invests into their home by remodeling the kitchen, they not only can anticipate their home’s worth to leap, but they’ll also see their home get much more attention when listed.

The first thing prospective buyers will notice are the cabinets and countertops. If your customer is asking for your advice about what to redesign in their kitchen, urge that they proceed with stone countertops and wood cabinets in neutral colors, like white quartz paired using charcoal cabinets. Not only are neutral colors in vogue at this time, but they appeal to the broadest assortment of potential buyers, making them the ideal choice for homeowners looking to optimize their value and curb appeal.

While kitchen remodels are generally high-value projects, make certain it’s a fantastic match for your client’s home. If none of the comp attributes feature a remodeled kitchen, then that’s going to blunt the positive impact of the job and reduce their ROI. If the comps all have kitchens which are far nicer and more extensively renovated than what your client is planning, you should also take that into account. It’s hard to entice buyers to a unicorn: for the most part, you want to spend just enough to remain competitive with comps and other homes in the area.

Energy-efficiency upgrades:

If there’s something that unifies all homeowners, it is their disdain for high electric and gas bills. More and more buyers–especially real estate homebuyers, who now compose a majority of the actual estate marketplace –are considering purchasing homes which have energy-efficiency upgrades already ready to go. This is good news for you and your client: efficiency updates can be a comparatively low-cost way to add value to the property, make it even more attractive to buyers, and also bet out an edge over other properties in your size and price range.

For starters, invite your customer to phone their regional HVAC company out for a whole-home energy audit. This specialized service will supply them with an assessment of where their home is squandering the most energy and what they can do to address this regular energy reduction. A professional energy audit provides the homeowner with a punch list of items they need to finish to get the most-possible yield.

Typically, homeowners can complete a complete suite of energy-efficiency upgrades for under $500. If you’ve got a client who would like to invest back into their home before sale, but is short on upfront money, you may want to recommend they go in this direction.

Selling your home in Stephenville

Buying a home in Stephenville

Why You’ll Win by Selling with a Real Estate Agent This Fall

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Real estate agent passing keys to his client

There are numerous advantages to working with a real estate agent when purchasing or selling your house. During hard times, like what we confront now, it becomes even more important to have an expert that you trust to help guide you through the procedure.

Your family’s safety should always come first, which is more critical than ever given the present health condition in our country. When you FSBO, it is incredibly hard to control entry into your house. A real estate professional is going to have the proper protocols in place to protect not only your belongings but your family’s health and well-being too. From controlling the amount of men and women in your house at one time to ensuring good sanitization through and after a showing, as well as easing virtual tours for buyers, real estate professionals are equipped to follow the latest industry criteria recommended by the National Association of Realtors (NAR) to help protect you and your family.

Recent studies in NAR have proven that, even before COVID-19, the first step 44% of buyers obtained when looking for a home was to search online. During the process, that number jumps to 93 percent. Now, those numbers have grown exponentially. Most real estate agents have developed a strong Internet and social media strategy to market the sale of your residence. Have you?

As a part of their instruction, brokers are instructed how to negotiate every aspect of the real estate transaction and how to mediate the emotions felt by buyers seeking to make what is probably the largest purchase of their own lives.

Possessing a buyer who wants to purchase your home is the first step. Making sure they can afford to purchase it is just as important. As a FSBO, it is almost impossible to participate in the mortgage process of your purchaser.

Further complicating the situation is the way the current mortgage market is quickly evolving due to the amount of households out of work and in mortgage forbearance. A loan program which was available yesterday could be gone tomorrow. You need someone who’s working with lenders every day to ensure your buyer makes it to the final table.

The documentation included in the selling process has improved dramatically as more and more disclosures and regulations have become mandatory. In a litigious society, the agent acts as a third party to aid the seller avoid legal jeopardy. This is only one of the major reasons why the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years.

Many homeowners believe they’ll save the actual estate commission by selling on their own. Realize that the chief reason buyers look at FSBOs is since they also think they can save the real estate agent’s commission. The seller and buyer can’t both save on the commission.The more buyers who view a house, the greater the opportunity a bidding war will take place.

Listing on your own leaves you to manage the entire transaction by yourself. Why do that when you can hire an agent and still net the same amount of money? Before you decide to take on the challenge of selling your house alone, reach out to a local real estate professional to discuss your options.

Preferred Properties of Texas is here for all your real estate needs. Give us a call today.

Selling your home in Stephenville

Buying a home in Stephenville

Staging Your Home

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Staging Really Does Help. Like, a Lot.

But you don’t have to take our word for it. A recent survey from the NATIONAL ASSOCIATION OF REALTORS(R) revealed that:

  • 77% of buyers’ agents said staging makes it easier for their buyer to visualize the property as their future home. It’s like helping the buyer dream it so they can achieve it — and so you and your agent can make the sale.
  • 39% of sellers’ agents said staging a home greatly decreases the amount of time a house is on the market. For you, time saved could mean moving into your new house even sooner.
  • 21% of sellers’ agents said staging a home increases its dollar value between 6% and 10%. Simply put, that may lead to more money in your pocket.

Before You Stage, Budget Accordingly

Many listings agents offer staging services to clients as part of their services. If you want to use someone you find yourself, you typically will have to pay out of pocket.

Staging costs vary depending on where you live and how many rooms you’re staging. On average, home sellers pay between $302 and $1,358 for staging, according to HomeAdvisor.com. If your house is empty because you’ve already moved, you might also have additional expenses for renting furniture and other homey decorations to make it look lived-in.

Many stagers offer consultations for as low as $150, Fixr.com reports. Using the advice you learn during the consultation to try DIY staging may be your best option if you’re on a tight budget. Listen for tips on how to use the furniture and decor you already have to show off your home’s best assets.

For the Best Results, Declutter

Spoiler alert: No buyer wants to walk into a messy house.

So, take time to clean and declutter your home. Organize everyday household items into crates and keep them out of sight. Stow away seasonal decorations (that means no Christmas in July). Make time for — or invest in — a whole-house cleaning, including carpet shampooing. Change lightbulbs, finally make those minor repairs, and add a fresh coat of paint to any room that needs it. {{ start_tip 99 }}Clean out closet spaces{{ end_tip }}– because buyers will want to check out the closets.

Also worth considering? Removing personal items from view, such as copious family photos, artwork, or religious keepsakes. The concern is not that home buyers will be offended by you or your lifestyle. The goal is to neutralize the space and help home buyers imagine themselves living there. (But don’t go overboard. You don’t want rooms to feel sterile, either.)

Yes, we did just tell you to clean out your closets. So where are you supposed to put all this stuff? If you don’t have a discrete place to tuck things away, consider renting a storage unit.

To Find the Right Stager for Your Home, Ask Questions

If your agent doesn’t offer staging services, he or she can likely recommend local stagers for you to work with. Before you hire a stager, it’s best to interview at least three candidates in person. You’ll want to get a sense of how much they charge — and whether they have good taste.

To do your due diligence, here are 10 questions to ask prospective stagers:

  1. On average, how many days were your staged homes on the market last year?Experience is important, but it’s not the only factor to consider when vetting stagers. You want someone who stages homes that sell — ideally within 30 days, because that’s when agents often recommend making a price reduction if your house is still on the market.
  2. What price range do you typically work in? Staging luxury homes is a totally different ball game than staging starter homes. Find someone who specializes in homes near your listing price.
  3. What styles of homes do you usually stage? Staging different types of homes also requires different skill sets (think of a penthouse versus a bungalow, for instance). Look for someone with experience working in homes similar to yours.
  4. What formal training have you received? A number of staging organizations, such as the Real Estate Staging Association (RESA) and the International Association of Home Staging Professionals (IAHSP), offer certification or accreditation. Training from these associations can distinguish professional stagers from beginners.
  5. Do you have insurance? Your home could get damaged when the stager moves furniture in and out. Find someone with business insurance so that you’re protected.
  6. Can I see your portfolio? One of the best ways to judge a stager’s skills is to look at their work. Ask to see photos from the person’s three most recently staged homes.
  7. Do you select the accessories, furniture, and paint for the homes you stage, or do you collaborate with other experts? Some stagers work independently, while others collaborate with other vendors. Make sure you know everyone who will be involved in staging your home, so you don’t have surprise guests rearranging your living room.
  8. What are your rates? Some stagers charge a fee for decorating services, plus a monthly fee for renting furniture, while others charge a flat fee per room for the duration of the listing. Ask about how a stager determines costs before you commit to working with him or her.
  9. What’s your availability? If you’re on a tight timetable, make sure the stager can get your house ready by the date you want to put your house on the market.
  10. Can you provide contacts for past clients? Get in touch with two or three people who have worked with the stager before. Ask how the stager’s services helped with the sale of their homes, and what they might have done differently.

Focus On the Rooms That Count the Most

You don’t have to stage your whole house to make buyers swoon.

Staging the rooms where people tend to spend the most time usually makes the biggest impression on buyers. Start with the{{ start_tip 100 }}living room,{{ end_tip }}followed by the master bedroom and the kitchen.

Keep in mind that you’re not going for an HGTV-worthy overhaul: Even small touches, like putting fluffy towels in the bathroom or replacing shabby throw pillows in the family room, can make your home that much more attractive.

Oh, and BTW: Stage Your Yard, Too

Your house has to look its best — inside and outside. After all, buyers form their first impression when they pull up in front of your home. It’s no surprise, then, that curb appeal — how your home looks from the exterior — can increase your home’s sales value up to 17%, a Texas Tech University study found.

If you’ve never had your yard professionally landscaped, now may be the time to do it. Landscaped homes have a sales price advantage ranging from 5.5% to 12.7%, according to research by Alex Niemiera, a horticulturist at Virginia Tech. That would mean an extra $16,500 to $38,100 in value on a $300,000 home.

Professional landscaping, however, can cost a lot. You’re aiming for polish, not a new garden of Versailles. If budget is a concern, start with these DIY improvements:

  • Plant blooming flowers and fresh greenery. Even if it’s winter, you can add colorful winter blooms and seasonal touches such as garland or lights.
  • Mow the grass.
  • Reseed bare patches of lawn and add fresh sod, as needed.

Then move on to these easy upgrades to your home’s exterior:

  • Wash the front windows.
  • Power wash siding and walkways.
  • Repaint or stain porches and stairs, as needed.
  • Make sure house numbers are easy to see, visible, and pretty.
  • Make sure important outdoor features such as the front door, porch, and sidewalks and paths are well lit. (If not, install new fixtures or lighting.)

Even basic upgrades — like laying fresh mulch, changing porch lights, or installing a new mailbox — can help a buyer fall in love at first sight.

Just wait ’til they come inside and see what else you’ve done with the place.

Preferred Properties of Texas

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