Real Estate
Summer is coming, which may have you debating if you will sell your house soon. It tends to be the time of year where sellers come out of the woodwork, and buyers follow suit! However, interest rates have been making the real estate market less predictable than normal.
With interest rates pricing so many out of the housing market, it has buyers looking for ways to save money. And it has sellers finding unique ways to bring in buyers. New home constructors are no exception, and they may be pushing your home down the home buyers lists.
Current Market Primed for Buyers
It’s no secret that San Joaquin and Stanislaus counties have started to become more commuter hot spots, and we all have felt some of the consequences of such. One of those is that a lot of new construction homes have gone up recently. Experts are saying that builders vying for buyers could shift the market entirely.
The shortage of housing is not unique to the Central Valley. Danielle Hale, chief economist at realtor.com®, states, “The shortage of existing homes For Sale has opened up the possibility of new-home construction to more buyers who may not have once considered it.” And though the number of homes for sale has risen over the last 3 years, it is still much lower than it was in 2020 and prior.
Priced To Buy
Whenever you are selling your home, there are a variety of ways to help the buyer. From covering costs, offering buy downs, or adjusting the purchase price, there is plenty you can do to help the buyer ultimately afford to buy the house. Builders are the same way.
The difference between a builder and a regular seller, is intention. You have your own goals that align with the sale of your house. You may be looking to sell fast, or to get a certain amount of money out of the sale. Either way, there is more than just a “sell now” mentality. For a builder, the house costs them every day that it’s not sold. They aren’t living in it, they aren’t renting it out, it’s not an investment; it just costs them. They have more incentive to offer help to the buyer to afford their new house.
Mark Fleming, Chief Economist at First American, emphasized this point stating, “Builders aren’t rate locked-in. They would love to sell you the home because they’re not living in it. It costs money not to sell the home. And many of the public home builders have said in their earnings calls that they are not going to be pulling back on incentives, especially the mortgage rate buydown, so that will help the new-home market continue to perform well in the spring home-buying season.”
What This Means For You While You Sell Your House
If you plan on selling your home in the coming months, there is a good chance that you are not just competing against sellers like you, but builders who have bright and shiny homes and more wiggle room.
Eric with ASDM Homes offers an alternative so sell your house fast. Cash offers can help you sell your house quickly, for a fair price, without the need for repairs, inspections, or having a line of strangers walk through your house. And there is no need to work with special programs Selling a house on the market can be a long and difficult process. Selling your house does not have to be.
If a cash offer is what’s right for you, Eric with ASDM Homes is here to help! We can give you a fair cash offer, help with all the legalities, and streamline the process to help get your home sold and cash fast! Contact Eric today to find out what you can get for your home and how quickly you can get that cash in hand!