Real Estate Blogs | Properties for Sale | Preferred Properties of Texas

What’s the Contrast Between a Listing Agent and a Selling Agent?

May 13, 2023 by chorton Leave a Comment

When buying or selling property, we always recommend that you have an experienced real estate agent by your side. If you decide to use a real estate agent, you might be wondering what the difference is between listing agents and selling agents. And which one would work best for you.

Listing agents and selling agent are different in that they represent different parties. While selling agents assist buyers in finding properties that suit their needs, listing agents promote properties on behalf of sellers. Both agents are essential to a smooth transaction and each has their own strengths and abilities.

What can you expect if you hire one? We’ll look at what selling and listing agents do and how they can assist you in closing your land deal.

Listing Agents: What are their responsibilities and what is the purpose of them?

You want to have someone who has experience on your side when you are ready to sell land. Listing agents help sellers in all aspects of marketing, listing and selling their properties.

A listing agent‘s main tasks include:

Price guidance and comparative research
Optimizing Land Listings, including coordination of videos, photos, and text
Overseeing marketing efforts
Coordination of showings
Networking in the real estate community
Receive offers and streamline buyer-seller communication
Organizing closing documents

Ask about the experience of the listing agent in selling land. Some agents may be skilled at selling residential homes but less confident (or less connected) in the land market. You need a listing agent that knows the market well and will guide you at every stage of the sale.

Selling Agents: Their Purpose and Responsibilities

Selling agents are also known as buyer’s agent. They work with land purchasers to help them find and buy their ideal properties. If you’re on the land hunt, a strong selling agent will be able to provide you with careful guidance backed by market insight. A good agent will also help you with all the tasks you need to complete before closing.

Selling agents may have specific responsibilities, such as:

Helping buyers to define their property needs in terms of location, price and land use
Looking into zoning laws and restrictions
Sorting listings and providing buyers a curated list of properties that match their preferences
Helping with pre-approvals and financing questions
Arranging showings
Composing offers and communicate with listing agents
Helping to arrange inspections, surveys and other steps of the closing process

You should do the same thing as you would with a listing representative and make sure that a selling agent is familiar with land before you hire them. Selling agents who work primarily in the housing industry may not be familiar with the intricacies of buying land. As a result they won’t be as helpful in coordinating the various intricacies involved.

Preferred Properties of Texas is here to help you find the right property to fit your needs. Gives us a call today!

Original Blog: https://www.landhub.com/land-news/whats-the-difference-between-a-listing-agent-and-a-selling-agent/?inf_contact_key=2e36e998235305cbb9d82c06cb3d63b2680f8914173f9191b1c0223e68310bb1

When is the best time to lower your home’s listing price?

May 11, 2023 by chorton Leave a Comment

Some buyers are relieved that the housing market in the United States is finally cooling. Home sellers rush into the market to try and take advantage of any remaining price boom.

The median asking price for homes is up 17.8% year-over-year. But sellers are starting to realize the writing on the wall, as buyers become more cost conscious with the rising interest rates. The price drop is the result.

How do you know when it’s the right time to reduce the price of a house you have on the market?

The price is usually the reason your home is still on the market

It can be frustrating if your house has been on sale for some time and you are not receiving the offers you expect or if you do not receive the attention that you believe it should. According to real estate experts, it’s usually the price that is at fault.

If the buyer feels that the price is good, they can ignore many other factors.

You may be charging too much if you get little traffic or no offers. It’s possible that you get a lot of traffic but your offers are lowball. Thirdly, if you have good traffic and negative reactions from buyers, it may be time to pay attention to what they’re saying. It’s important to listen to buyers who consistently comment on the price.

When to Lower the Price

You should act quickly if you believe you need to reduce the price of a home. It is best to lower the price of your home on the market within two weeks, especially when inventory remains low. You’ll usually see the most activity in the first 21-days after your house is listed, so take advantage of this.

You may also want to consider some indicators of the local housing market, such as the average number of days that a home is on the market.

Some real estate professionals recommend a price reduction after a home has been on the market for 10 days.

Before reducing the price, your agent should undertake marketing measures. Perhaps they will need to review your photos again and make sure they are good. You should also list the home in several places and address any feedback from buyers.

Learn about price cuts

It is not easy to reduce the price, and you may have to do so more than once. Your potential for needing to adjust prices increases as your time on the market increases.

You should not make more than three price cuts. You will raise a red-flag to potential buyers if you reduce your price more than three times.

It is also important to reduce the price in a strategic and calculated way. If you started with a high price, you might reduce it by 4% or no more than 9%. You might need to make a small cut if your price is comparable to the market value.

Some real estate agents believe it is better to reduce the price of your home in one go, to avoid having to do it again. You should discuss this with your agent. It’s possible that making multiple small cuts will just slow down the sale of your home. This is not what you want.

Original Blog: https://realtytimes.com/archives/item/1045118-when-should-you-lower-your-home-s-listing-price?rtmpage=

Loan-to-Value Ratio Break Down

May 9, 2023 by chorton Leave a Comment

You’re going to hear many terms when you buy a house, and some may be unfamiliar. The loan-to value ratio, or LTV, is one of them.

LTV is the comparison of the amount you want to borrow versus the appraised value of the home you are trying to purchase. This comparison is used by lenders to decide whether to approve a loan or not. LTV can also be used to determine whether you need mortgage insurance.

The higher your LTV, the greater risk you may pose to a lender.

The loan-to value ratio tells you how much you own in relation to the amount you owe for your mortgage. LTV is used most often for mortgages but can also be used for refinancing and car loans.

Lenders will not only look at the LTV. Lenders will also look at your credit score, how much you can afford to pay each month and the condition of what you are trying to purchase.

You’ll be in a much better position to obtain higher LTV loans if you have a good credit rating. You may be denied approval if you have a large LTV ratio. Or, you could have to pay a higher rate of interest. Mortgage insurance may be required, which reduces the risk of the lender.

How is the loan-to-value ratio calculated?

You can calculate the LTV ratio yourself. Divide the mortgage amount by the appraised value and then express it as a percentage.

If you bought a house with an appraised value of $100,000, and put down only $10,000. You would borrow $90,000. This leaves you with a LTV of 90%. If you made a downpayment of $20,000, your LTV would be 80%.

The more money you get from a lender, the higher your LTV and the greater the risk that they are taking.

Collateral and LTV

When the LTV calculation is used to determine a loan’s terms, it’s likely that the loan involves collateral. A loan is secured by a lien. This lien remains in place as you pay your mortgage. If you fail to make payments, your lender may take possession of the home and sell it. The goal of a lender is not to seize your property. Instead, collateral allows them to get some money back in the event you default on a loan.

The idea is that if a lender gives you only 80% of your property’s value, they will still be able to sell it at a discount and still make their money back.

Negative equity is when you get a loan for more than what you paid for the asset. A negative equity is a LTV ratio greater than 100%. It’s an underwater mortgage in that situation.

What should the LTV ratio be?

LTV is usually around 80%. You’ll need private mortgage insurance if you borrow over 80% of a house’s value. This will give your lender protection. Your lender will often let you cancel your insurance once you reach 80% LTV.

You may be able to get an FHA mortgage with only a 3% deposit, which would make your LTV at 97%. Mortgage insurance would be required, possibly for the entire term of your loan.

You can increase the LTV by getting a home equity line of credit. If the value of your house increases, then your LTV will decrease.

There is no definitive answer to the question of what LTV you should have in your mortgage loan. The closer it is to an acceptable percentage the better. However, there are many other factors which affect the decision.

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

Original Blog: https://realtytimes.com/archives/item/1043363-loan-to-value-ratio-explained?rtmpage=

New Listing- Gym Located In Stephenville, Tx!

May 8, 2023 by chorton Leave a Comment

Excellent opportunity to purchase a well-established gym in Stephenville Texas. Today is the day to take advantage of this great investment!

Multi Use Warehouse/Office Just Outside Stephenville, TX!

Preferred Properties of Texas of Texas is here to help you find the right property to fit your needs. Gives us a call today!

Land in Santo Texas – 5.3 Acres Just Listed!

May 8, 2023 by chorton Leave a Comment

You can have the home of your dreams on 5.3 acres within the Sierra Vista Subdivision. It is only a few miles from DFW, and offers all the advantages of country living.

Just Listed!! Land in Santo, Texas

Preferred Properties of Texas is here to help you find the right property to fit your needs.

Gives us a call today!

Ways to Take Your Curb Appeal to The Next Level

May 4, 2023 by chorton Leave a Comment

You can add curb appeal to your house with these simple upgrades that you can complete in one day, a weekend or a month. From replacing your mailbox to refreshing your garden, there are many options. If your home’s curb appeal makes a great first impression, everyone (including potential homebuyers) will want to see what’s inside.

Replace Old Hardware

House Numbers, an entry door lockset and a wall mounted mailbox are just a few of the elements that can enhance your home’s curb appeal. If they are outdated or dirty, it may not be the look you want. The most effective way to use these elements is as a cohesive group, rather than as individual pieces. The oil-bronze finish is best for traditional houses while the brushed nickel finishes are better suited to more contemporary homes.

Install Window Boxes

Window boxes are a quick and easy way to add color and charm to the curb appeal of your home. For a more traditional look, choose boxes made of copper or iron. Choose painted wood to give your display a cottage look. You can mix and match plants and flowers depending on the color scheme of your home and whether or not you receive full sun.

Paint the Front Door

The front entrance of your home is the main focus for curb appeal. Give your front door a new look with paint or a wood door. Use metal polish to clean off any dirty spots on the knob and door fixtures. Choose a wreath, swag or flag that matches your home’s style.

Create Perfect Symmetry

It’s easy to arrange a symmetrical layout. Light fixtures and accents on the front door can be arranged in a symmetrical way to create welcoming entrances, and increase curb appeal. Lantern-style wall sconces guide guests safely to the front door. They can also coordinate with the hardware and urns.

Dress Up Your Porch with Seating

You can use a bench or small chair on the porch as a place to rest or remove dirty shoes. You can also increase curb appeal by adding comfortable outdoor seating. This will encourage people to interact with their neighbors and take part in street activities.

Install Outdoor Lighting

Low-voltage landscaping lighting can have a significant impact on the curb appeal of your home, while also improving safety and security. Accent lighting can be used to highlight trees, the house or a path. Plan to use a variety fixtures and lighting styles for the best landscaping lighting. Install solar lights if you can’t use fixtures that require wiring. Solar outdoor lights are easy to install and affordable.

Do a Mailbox Makeover

Mailboxes are a great way to express your personality and complement the house. Choose a style that complements your home trimmings if your mailbox is attached. If your mailbox is closer to the road you can surround it with beautiful flowering gardens . This will instantly make your yard look more inviting and approachable. Consider painting your mailbox and post in a color that matches your home, or adding vinyl decals with your address.

Add Shutters or Accent Trim

Shutters, trim and other decorative elements can add beauty and curb appeal. Exterior shutters are available in wood or aluminum, as well as composite, fiberglass, and vinyl. Trim details can be made durable and low-maintenance using composite materials such as PVC or polyurethane.

Replace Gutters and Downspouts

It’s likely that your gutter system is old and in need of maintenance . Peeling paint, rust marks, drooping gutters and other issues indicate that repair or upgrading is required. Replace the old gutters with new ones.

You can save money by installing your own vinyl gutter system. They are known to crack and become brittle in cold weather. Copper systems are more expensive, but they have a beautiful curb appeal and a look of quality.

Add Arbors or Fence Panels

The curb appeal and garden of your home will be enhanced by arbors, garden gates and short sections of decorative fencing panels. These simple additions will provide a beautiful backdrop for your garden. Kits are easy to assemble or come in prefabricated sections you can connect. Paint or stain the items in colors that match your home.

Add Outdoor Art

Add some whimsy to your yard by incorporating artwork that is resistant to the weather. Select pieces that compliment your home’s exterior and natural color palette. Outdoor art can include metal cutouts and sculptures. Birdbaths are a great option, and feature nice colorful designs. The gurgling sound of water sculptures can be soothing on hot days and help to cool you down. Place water fountains in an area with good visibility and hearing.

Upgrade Railings

If not maintained properly, porch and stoop railings will deteriorate very quickly. If your railings have reached their peak, replace them with quality wood or metal components and increase curb appeal. The color, size, design, detail, and material should all be compatible with your home’s primary features. Porch railings are a key component of the exterior aesthetic of a house, and help to enhance its style.

Renew Paint, Siding, and Trim

A new exterior update, such as paint, siding or trim, can instantly transform the appearance of a house. Maintaining exterior surfaces is the best way to maintain your home’s curb appeal. A home’s curb appeal can be negatively affected by visible defects such as cracked or decayed material. This will turn off potential buyers. After repairing the weaknesses, add color to trim or shingles.

Dress Up the Driveway

You can upgrade or clean up your driveway if it is cracked, stained or has plants growing on the surface. Then, you can dress up the driveway by applying a stain to the concrete. Add stone, pavers, or bricks to the side of your driveway to make it wider. This will give you more space to park or move around. Setting off a driveway by creating a clear, crisp transition between the paved and non-paved surfaces will enhance curb appeal.

Build a Walkway

A well-designed pathway can make your home more inviting and warm. Replace a concrete path with a stone or a brick curved pathway to make a dramatic difference. Apply a colored concrete resurfacer and then border it with bricks or stones. Brick paving adds a classic, traditional look to any landscape.

Original Blog: https://www.bhg.com/home-improvement/exteriors/curb-appeal/ways-to-add-curb-appeal/