Do you prefer writing realistic true-to-life stories or ones filled with fantasy elements like magical spells and creatures?

Both! When I was in primary school - which is more than half a century ago - I read stories about fairies, giants, lands outside planet earth and characters that were not terrestrial. The famous Arabian stories book "Alf Laila" or a thousand nights is thought to be the source of Harry Potters of the day! Literature is to write both about social realities and about fairies and genis and giants!

It depends.  When I do academic writing, I apply my objectivity, and make it as factual as possible. But I also write fictional stories, too.

A writer should not be anchored by which style, should try whatever he desires, there is no actual preference of mine, although I never done Fantasy, it might be my next project.