Preferred Properties of Texas

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

Why Sell Your Home Alone, An Agent Can Help

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Partnering with a professional real estate agent is something to think of if you want to maximize your sale and minimize the effort. You might be tempted to list your house by yourself in a seller’s market, such as today’s. However, it is possible to save money by hiring a professional real estate agent to manage every step of the process from the pricing of your home to the review and negotiation of documents.

A great agent will make a good first impression.

Preparing your house for selling takes a lot of effort and time. To make it stand out it takes experience and knowledge of the needs of buyers. A real estate agent will consider:

 removing personal art and photos, the amount of landscaping put into your home to increase curb appeal, and which wall colors appeal to buyers the most.

Expert real estate advisors uses their expertise to make sure you don’t waste your time and money on the wrong investments. It is important to not waste your money and time.

Agents offer tools that will maximize the number views for your home.

The simple truth is that the more buyers view your house the greater your return. According to latest data of the National Association of Realtors (NAR), homes receive 3.8 offers an average per sale in today’s market. It’s a good sign that your home is on the market. However, it’s important to know your agent’s role in bringing potential buyers into your home.

Agents have many tools at their disposal, from social media to agency resources. This will ensure that more buyers view your home. You may also be able to increase your home’s value by leveraging the expertise of your agent.

A good agent won’t leave anything out.

You can save time by having your agent take all the guesswork out and navigate to the necessary documentation. Today, there are more disclosures and regulations, which means that you will need more legal documents.

There are so many details to consider, it can be overwhelming to fully understand them all. An expert advisor is the best way to shine. An expert advisor has been through this process before and can guide you to avoid costly errors.

Our experts know the market and how best to price your house.

A way that your agent can maximize the sale price of your home is to make sure it’s correctly priced. Real estate professionals can compare your house with similar properties in your neighborhood. They can also help you to factor in any home improvements. This combination is key to making your home move-in ready – at a reasonable price.

FSBO is a way to operate without expert knowledge. Even with your own research, it’s possible to miss the most recent information and set a price that is inaccurate or unrealistic. A house priced too high could cause buyers to walk away before they even get inside the door. This could also lead to problems during the appraisal.

Your agent is an expert negotiator.

Real estate professionals have the ability to negotiate all aspects of a deal. This is in addition to their extensive sales experience. They know all parties that are involved in the sale, including:

  • The buyer is someone who wants the best price.
  • The buyer’s representative who will use his/her expertise to advocate on behalf of the buyer.
  • The inspection agency works for the purchaser and almost always finds problems with the house.
  • An appraiser who evaluates the property’s market value in order to protect the lender.

A good agent will rely on their knowledge and training to make the best decisions during negotiations. They will be able to tell you what levers to pull and how each individual should be addressed. Selling your house to FSBO will require you to be able to have these conversations by yourself.

Don’t go at it alone. If you truly want to maximize the sale of your home, give us a call. We are here for all your Real Estate Needs!

 

Link to original post: https://www.keepingcurrentmatters.com/2021/09/29/dont-tackle-selling-your-home-on-your-own-an-agent-can-help/

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/

What’s Ahead For Texas Real Estate In 2021-22?

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Researchers at the Texas Real Estate Research Center see a more stable Texas housing market ahead, as soon as pandemic-induced home shortages dissipate.

Good article to read from The Texas Real Estate News Center click on link below:

https://www.recenter.tamu.edu/news/newstalk-texas/?Item=26340

 

Housing Shortage May Finally Be Starting To Lift

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The massive housing shortage that started before the pandemic, and was then made worse by it, may finally be beginning to ease.

More supply is appearing on the market suddenly, which will undoubtedly help frustrated buyers and, in the long term, could take some of the heat off of home prices.

According to Realtor.com in June, new listings rose by 5.5% and 10.9% respectively year over year. The 10 larger cities with the highest number of new listings increased by 20% or more compared to last year were the most successful.

Our June data report indicates that buyers have good news, despite the fact that there’s still a lot of homes to sell and that home prices are at a record high.

As sellers entered the market with a variety price points across the country, inventory declined more than in the earlier pandemic.

It is not surprising that inventory has increased because most new listings fall between May-June, after the spring market. However, today’s housing market doesn’t follow the traditional rules. The pandemic caused unprecedented demand for larger suburban homes.

We noticed an improvement in the number of new listings between May and June. This suggests that sellers are entering market historically later in the season. It could also mean that we will see home buying continue into the autumn as buyers look for new opportunities.

Unexpected new supply is good news for homebuyers. Many have been left out in bidding battles. However, the market remains extremely tight. The inventory of homes on sale fell 43.1% over the past year, which is 415,000 less homes than were available on a typical June date. However, this is an improvement on the more than 50% declines that were seen in May, March, and April. Again, new listings were higher but still far below the June pre-pandemic average.

However, there is still more supply available for some buyers who are frustrated. The market is improving slightly. It means that more people have signed contracts to buy their next home. This in turn means there are more listings available because they are now able sell their home.

The month’s inventory, which is a calculation of how much has been sold compared to how much remains for sale, saw a slight increase, but not enough.

Housing boom will slowly recede if there are more homes on the market. It is unlikely that the housing boom will fall sharply or “bust” simply because of favorable demographics and historically low mortgage rates.

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.

Preferred Properties of Texas

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