For the Homemade Strawberry Preserves:

• First, set out the cream cheese and butter to come to room temp.
• Rinse off fresh strawberries and trim off green tops. Roughly chop in quarters and add to a small saucepan along with the sugar and water.
• Turn the heat to medium-low, and cook the strawberries, stirring frequently, until reduced to about ¼ cup. Lower the heat and stir as needed to prevent burning. This process takes about 20-30 minutes. Tip: They will turn bright red, burst, then begin to simmer. Allow to simmer until reduced. The mixture should no longer be a thin juice, but thick and jammy.
• Once the strawberries are like preserves, spoon out of the pan into a bowl and allow to cool. Set aside.
• Meanwhile, in a medium-sized mixing bowl or bowl of a stand mixer, add the room temperature cream cheese and butter. Beat on high until smooth and creamy, about 3-5 minutes. Add in the vanilla extract and strawberry preserves. Beat until combined.
• Sift the powdered sugar into the bowl, and beat until creamy and smooth. Tip: Sifting is important to avoid lumps. Since this icing is on the thicker/heavier side, lumps will be more obvious in the finished product.
• Ice cake or cupcakes. Additionally, you can use the frosting as a layer for cookie sandwiches, or a dip for fruit, cookies, or graham crackers. Store all iced baked goods in the refrigerator as cream cheese is perishable.