Preferred Properties of Texas

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

10 Things That Will Kill Your Home Sale

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There are few homes that are magically market prepared without a little assistance. If your home requires a bit more of assistance, it is time to get focused. In the end, listing your home if it is not in the ideal state to sell will likely just lead to frustration. And, in this case, frustration means: your home sits in the marketplace for months without any supplies or the errant, offensive, lowball.

If you want to Be Certain you get your home sold quickly and for the right price, you’ll want to avoid listing it with the following:

1. Excessive damage

Maybe the house you’re selling was utilized as a rental and trashed by frat boy tenants, or maybe you just have not kept it up as you should. In any event, these holes in the walls that seem like the living room was used as a boxing gym, the scratched-up wood flooring where dinosaurs have clearly been rushing, along with the yard that’s bare except for all those two-foot-tall patches of weeds aren’t exactly what buyers are searching for. Unless you’re intending to offer your house for a cost that can make buyers emphasize the good and ignore the bad and the ugly, it’s going to want a little attention.

2. Carpet in the bathroom

It’s just gross. And everyone who walks in that toilet is thinking one of two things: 1) There’s gotta be mold under there; 2) There has gotta be urine on the floor round that bathroom. This is just one upgrade you will want to do before you list. Or, if you’re already recorded and your home not promoting.

3. Stains

A buyer should not know where your dog likes to indicate or wherever your children spilled the whole bowl of holiday punch. If the stains in your carpet are that bad, potential buyers will drift in and run right back out. Nobody wants to buy a pigsty. Invest a few bucks in new carpeting. You’ll make the cash back since you won’t have to drop your sales price.

4. Pet scents

You probably don’t notice since you live together everyday, but buyers will, and it might be sufficient to turn them off. Deep clean the rugs and the upholstery, then invest in some air frfreshenersnd eliminate cat boxes in the house for showings. The very last thing you need is a potential buyer speaking to your house as”the stinky one.”

5. Loud dogs who bark each time someone gets near the house

One final word . Barking happens, whether it’s your dog or one which belongs to a neighbor. But you don’t need that on the day of your open house. Offering to pay for doggie day care for a neighbor’s pooch could eliminate the matter and help make the serene setting buyers need.

6. Your dead lawn

Deficiency of curb appeal will not necessarily kill a bargain. Oftentimes, you won’t even get prospective buyers to escape the car. If the front lawn is a mess, buyers will obviously believe the mess continues indoors.

7. A bad agent

Face it. Not all of them are winners. An agent who isn’t giving their customer the ideal sort of attention likely isn’t likely to get the job finished.

8. Your sloppiness

Those cabinets and drawers you’ve pushed everything into when you washed away your kitchen and bathroom cupboards could be a deal breaker for picky buyers. We all know buyers open stuff. They seem in drawers, they open closets, they examine closets. If these spaces are cluttered and overstuffed, they may assume there’s inadequate storage space.

9. Unreasonable sellers

Big problems in your home may be deal killers, but they are also able to be deal sealers, if you’re reasonable. If your inspection uncovers pipes, electric, or roofing issues (or even all three!)

10. Poor Taste

Your decorating options and failure to keep up with trends from this season –or century–can haunt you when it is time to sell. If it’s true that many buyers don’t have any eyesight –and all you have to do is watch House Hunters and watch a purchaser becoming hung up on a paint color to understand that is true–then you are really in for it with your crowded house full of ugly, outdated things. A few straightforward updates can help it to look fresh and provide buyers something to fall in love with.

 

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.

Selling Your Home After Labor Day

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Labor Day weekend is the unofficial end of the summer season. If you’ve been thinking about selling your home, you may be wondering if you’ve missed the boat. Spring and summer are often thought of as the best seasons for selling your home. But don’t be discouraged! Fall can also be a great time to put your home on the market. Here are our best tips for making the most of your post-Labor Day sale.

Maximize your marketing

While spring and summer tend to have the biggest uptick in buyers, that doesn’t mean there aren’t people shopping for a home in the fall. Understand that the buyers you’ll see in the fall may be empty nesters, young millennials, or even people looking for vacation homes. If you tailor your marketing to those potential buyers, you’ll see better results.

Focus on the season

There are many people who love the fall season, so don’t be afraid to add some autumnal touches to your home. When sprucing up the exterior, display decorative accents like potted mums, pumpkins, or a wreath with fall colors. Inside, add tasteful decorations in warm shades, such as throw pillows or a cozy blanket for the living room couch. Simmer stovetop potpourri with fall scents like cinnamon and clove, or bake pumpkin spice cookiesto make your house smell amazing. On chilly days, keep the thermostat at a comfortable temperature and serve up hot apple cider.

Price it right

One of the most important things to keep in mind when selling in the fall is to price your home accordingly. Take a look at comps in the area and discuss the best pricing strategy with your real estate agent. While some people believe that you have to price lower in the fall, that isn’t necessarily true. Your home needs to be priced according to market conditions, and a knowledgeable agent will help you determine what the best listing price should be.

Get the house ready

No matter the season, it’s essential that you spend time getting your home ready to sell. This includes de-cluttering, de-personalizing, and thoroughly cleaning the entire house. Make any needed repairs including fixing leaky faucets, repairing faulty light fixtures, and replacing all burnt out light bulbs. Your agent may also make other suggestions for upgrades to boost your home’s appeal. This could include making cosmetic renovations to a bathroom, replacing the flooring, or making energy-efficient upgrades. Paint rooms in neutral shades and remove any bulky furniture. Remember – you want potential buyers to be able to imagine themselves living in your home. Make it easier for them by giving them a comfortable, clean, and neutral environment.

If you’re ready to put your home on the market, autumn can be the perfect time. Contact Preferred Properties today.

 

Which Property is the Best Fit for You?

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When you think of your perfect residence, do you envision a spacious, single-family home with a large lawn? A lot of people associate this picture with homeownership, but the best fit for you might be a historical townhome on a tree-lined street or a top-floor penthouse overlooking a city skyline.

Whatever you envision, choosing the perfect property depends on your situation and goals. Your Realtor can help you find a house that fits your wants and help you understand what’s involved in buying and possessing property. Here are two types of property Your Realtor might suggest to you:

Condos

You enjoy many of the same benefits from owning a condo as you do a single-family house.

When you live in a condominium, you prevent a number of the upkeep and maintenance issues that come with a home. You’ll pay a monthly condo association fee for this advantage, but you won’t have to mow the lawn, water or replace the crops, paint the exterior or execute other tasks associated with owning a single-family residence. Your association fee goes toward repairs and routine maintenance. Bear in mind, this money keeps the house well maintained and shields its value.

You may also get to appreciate amenities like a pool, clubhouse or exercise room. If a home has extensive upscale amenities that you don’t think you’ll use, you may want to appear elsewhere. Condo association fees vary considerably. Normally, the more upkeep required means higher fees.

Do not forget that condominiums often share walls. Living in close contact with your neighbors has advantages and drawbacks. Be realistic with yourself when you determine if a condo is a good selection. Also, don’t assume that a condo will cost significantly less than a detached home. There are upscale condos and cheap houses, just like there are upscale homes and inexpensive condos.

Multifamily

Duplexes, triplexes, and fourplexes are just another option. Though some people own little multifamily properties solely for investment purposes, others find it advantageous to buy a property, reside in one of the units and rent out the others. You might decide you like this arrangement exclusively for the fiscal aspects of it, or it may work well if you have a relative or friend that you’d like to have living near.

In this scenario, do not forget that you’re not only a homeowner, but a landlord, also. That includes benefits (a monthly rent check, equity which continues to construct ) and responsibilities (making repairs( finding tenants).

Regardless of what a home is often called — condominium, co-op, attic apartment, townhouse, garden home — it is important to understand what legal definitions and documents govern the purchase and possession of the property. It’s just as important to know what those definitions and documents mean when it comes to your continued expenses and also the rights of ownership you may like.

For more information about buying property in Stephenville or anywhere in Erath County, please visit www.preferredpropertiestx.com

or give our office a call.

 

4 REASONS TO BUY A HOME AFTER SCHOOL STARTS

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Ah, fall. The return of all things pumpkin-spiced, cooler weather and the new school year (which this mom is thrilled about). It’s also an opportune time to buy a home and possibly snag a great deal in the process.

Buyer demand begins to wane this time of the year, which means motivated home sellers are more likely to play ball with you in negotiations. If you didn’t find the right home during the busy summer season, or if you’re just starting the process as a first-time homebuyer, here are four reasons why buying a home after school is back in session might be the best move you’ll make this year.

1. Less competition

Once school starts, there are fewer buyers to compete with on your offer. Most families prefer to move before their darlings head back to school. Also, cooler weather drives down demand. In fact, from now until February, buyers have more leverage than during the rest of the year because there’s still a large amount of inventory relative to the time of year, says Jonathan Smoke, Realtor.com’s chief economist.

In 2015, sales of existing single-family homes nationwide declined 3.7% from 4.86 million in July to 4.68 million in October, according to the National Association of Realtors. Granted, if you live in a market with a tight inventory and brisk sales (such as San Francisco and Seattle), you still might face stiff competition. But in markets like Indianapolis or St. Louis, you’ll see a lot less gladiator-style jostling and more chances to negotiate with sellers when you buy a home.

2. Prices match market value

If homes listed during the busy summer months didn’t sell, chances are that they were overpriced. That means homebuyers will see prices fall more in line with market value, says Mark Goldman, a real estate instructor at San Diego State University and a loan officer with C2 Financial Corp.

For example, in 2015, the U.S. median sale price dropped 5.5% from $233,400 in July to $220,600 in October, according to NAR.

Working with a real estate agent who can assess asking prices can help you avoid overpaying, Goldman says. If you want to buy a home that’s priced higher than what your agent estimates to be appropriate, submit an offer that’s in line with market value and with comparable sales data attached to back it up.

3. Time on market

Another issue that works against sellers (but favors buyers) is the length of time a home has been on the market. The longer a home sits unsold, the more bargaining power a buyer has, Smoke says. Also, inventory tends to increase from summer to fall because homes aren’t selling as quickly. Active listings on Realtor.com remained for a median of 65 days in May and June. But in August, that number was projected to increase to 72 days. That shouldn’t dissuade potential buyers from considering a home, Smoke says.

“If the home and location seem to fit, don’t cross it off your list just because of the time of the year or the time on market,” Smoke says. “There will always be sellers who need to put their home on the market.” Also, the services related to buying — moving, buying furniture, signing up for cable — tend to be discounted toward the end of the year and during winter, Smoke notes.

4. More flexibility on terms

In a typical seller’s market where bidding wars and multiple offers abound, buyers have little room to ask for concessions. But in a slower selling season, the tables are turned and buyers have the upper hand, Goldman says. In a slower market, you’ll find more flexibility on terms such as:

  • Closing costs.
  • Repairs/cash credits toward repairs.
  • Buyer concession to sell home first.
  • Closing timeline.

Likewise, if you are willing to give a seller more time to close, he or she might sweeten the deal by leaving behind a hot tub or offering a repair credit. If you want to ask for reasonable concessions when you buy a home, this is the time to do it.

 

Ways to Save a Down Payment for a House

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Tired of renting?  We get it. The pressure to buy a house right now is real, particularly as rental costs continue to rise.

All of your friends are buying homes, and you’ve heard the market is actually good at this time. Plus, you’re really sick of paying rent simply to walk your puppy down three flights of stairs multiple times a day. Paying that much cash, you should at least get a garden!

There is just one problem: you do not have a down payment for a house yet. And it gets harder and harder to save for one when your rent keeps going up. Higher rent costs hurt in lots of ways, including your ability to spare. And you are not alone. Builder Online estimates that it would take young Americans over seven years to save up a 10 percent down payment. No wonder you are feeling overwhelmed!

Listen, saving up a down payment is tough, but you can do it!

Before you save a penny for a down payment, you ought to be debt-free and possess a fully funded emergency fund of three to six months of expenditures. Freeing your earnings from debt obligations and having the ability to turn big emergencies into minor inconveniences puts you into a place of financial security. Then you can start putting some money aside toward a new residence.

You might think you are”throwing money away” by renting. But if you’re focused on your financial goals and have a strategy in place to meet these goals, you are not trashing cash–you’re setting yourself up to acquire long-term using a strong financial foundation.

This type of wise cash behaviour sets you to make homeownership a boon instead of a burden.

Down payments = lots of cash. It is simpler than you think when you have a plan!

1.How much should I save for a down payment?

If you can’t pay cash for your house, plan to put at least 10% down. If it is possible, go for 20%. Why? Since putting down 20% means no private mortgage insurance (PMI)–an excess price your creditor tacks to a monthly payment only in case you don’t make payments on your loan. You want a 15-year, fixed-rate mortgage that is no more than 25% of your monthly take-home pay.

2. Just how long can it take me to save for a down payment?

Because the more time you spend saving up, the more money you can save up. And the more money you save, the less your mortgage will cost in the long term. Stay focused and you should be able to save a great down payment in two to three years. Try not to drag it out much longer than that, though. You’ve got plenty of additional money goals to take on next–like your retirement along with the kids’ college money.

3. Where’s the ideal place to put the money I’m saving for a down payment?

In most cases, a deposit is not an investment. So stashing that cash in a money market savings account will get the job finished. You’re not going to make tons on interest, however you won’t eliminate money either.

4. What are some expenses I should cut in my budget?

You’ll be amazed at how much money you find when you pay attention to your spending. Here are some ideas to help you tighten your spending temporarily while you work on making that home dream a reality:

  • Take a break from the gym
  • Save eating out for special occasions
  • Trim your clothing budget
  • Buy generic brands at the grocery store
  • Cut the cable
  • Press pause on retirement savings
  • Drop the summer vacation

5. What can I do for extra income?

  • Exercise regularly? Walk neighborhood dogs after work or referee sports leagues on the weekend. Get healthy and bring in some dough? That’s a win!
  • Have a heart for teaching? You can expect to make $30–40 an hour tutoring—even more if you live in a big city or have advanced degrees.3
  • Love pets? Let your friends and coworkers know you’re available to watch Rover the next time they’re out of town. Get some fur therapy and make money at the same time.
  • Do you have a lot of extra stuff collecting dust around your house? Sell. It. All.
  • Got an annual bonus or raise? Stash that money in savings instead of spending it else where.

These tips could save you every month! Now get creative and think up even more ways you save!

When you have worked so hard to save up a large down payment, the very last thing you need to do is create a poor financial investment. That is why choosing an experienced property expert –that has your very best interest in mind –is essential.

Our Realtors at Preferred Properties of Texas are a few of the finest at the business, and they assist first-time house buyers and turn your homeownership goals in reality.

 

 

Preferred Properties of Texas

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