Real Estate
According to expert data, San Joaquin County entered summer in a buyers market! This means that there are more homes on the market than people looking for those homes. This means if you are thinking of selling your house, listing your home may not be the best option.
A Buyers Market
One of the best times to sell your house is to sell during a time when there is a higher demand for your house. This can bring in offers over your listing price or create bidding wars. When the market is not in favor of the sellers, a house can sit on the market a longer time waiting for the right buyer. The current average days that a house spends on the market in San Joaquin County is at 31 days.
Selling Your House In A Buyers Market
Priced To Sell
In order to compete and get your house sold, you have to be priced competitively. A good price will make your house stand out from the crowd and attract more potential buyers. While your house does have a market value, you can price it lower in order to try and attract more buyers to your house in a shorter time period.
This is just one of many strategies to use when selling a house. Before starting a transaction, make sure you have your priorities straight. Know if getting a certain price warrants a longer wait, or if speed is your top priority. This can help you navigate the process and choose the strategy and buyer that best fits your personal interests.
Dressed To Impress
When getting ready to sell your house during a buyers market, it’s important to have your home looking ready to compete! Your house is competing with others like it for buyer attention, you need to give them a reason to stop. Here are a few ideas to get your house to stand out:
- Fresh coat of paint on all the walls
- Spruce up the front porch with a power wash, fresh coat of paint, and fresh decor
- Declutter the house of all personal effects and extras
- Make updates and upgrades to highlight the best parts of your house
Proper Expectations When Selling Your House
One of the best ways to prepare to sell your house in a buyers market is to set your own expectations. The waiting period when selling your house can be brutal. You may start to question what may be “wrong” with your house. You may be thinking of pulling your house off the market, or changing the price you are asking for.
When selling your house, it’s important to connect with a professional who can give you an accurate view of the current market. This view should include an expectation of how long a house like yours will be listed, and what it might be sold for.
Cash Deals In A Buyer Market
A cash buyer is someone who has all the funds on hand to handle the purchase of a home. They do not have to go through a lender. You do not have to worry about the buyer situation changing and not being able to close the sale. When you are able to work with a cash buyer, the transaction changes drastically!
Time To Close
When working with a cash buyer, you gain the ability of changing the timeline until you are able to sell. If you are in need of closing by a certain date, cash buyers are able to accommodate you, within reason, so you can have a faster transaction. They are able to do this because the selling process is a lot simpler. There are far less hoops that you will need to jump through with them, so you can get to the finish line faster!
Financing Delays While Selling Your House
The sale of your house is entirely dependent on the financing of the buyer. Even after you accept an offer, it doesn’t mean the deal is done. Inspections and appraisals still need to be done on your house. This can change the financial situation of your deal. Depending on the value of your home, your buyer could need more cash funds. They could make a purchase that could affect their ability to qualify for their loan. The lender may also delay closing as they request more paperwork. Since cash buyers buy in cash with the property as-is, these financing delays are not an issue.
No Inspections with Cash Buyers
Speaking of as-is, this means no inspections! Not only does this speed up your sale, but it can help you avoid costs while selling. If things are discovered during inspections, you could lose the sale due to contingencies. You could also lose money on the sale or be asked to make renovations to the home in order to complete the sale. This can delay your sale and potentially end it all-together. A cash buyer like Eric with ASDM Homes are willing to forgo those inspections, making a way for you to avoid all the potential pitfalls surrounding the inspection process.
Using A Real Estate Agent?
Working with an agent does not remove the possibility of working with a cash buyer. There are times after listing your home on the market you could still get cash offers for your house. However, your agent should be working in your best interest. Any good agent should have a cash buyer in their rotary to use if they feel it’s in the best interest of their buyer.
If you feel like a cash offer is the right way to go, we can work with you and your agent to work out a cash sale. They can continue to represent you as we go through the sale, and they can get a connection with a cash buyer to help future clients like yourself! If they have not brought it up yet, connect with us and discuss the option with your agent.
Getting What You Need When Selling Your House
After careful consideration, you will be able to make the best decision for your specific circumstance. But you can’t make the best decision without all of the options. If you are interested in the type of cash offer you can get for your house, 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 fast! Contact Eric today to find out what you can get for your home and how quickly you can get that cash in hand!