Real Estate
Kicking off summer in a buyer’s market for San Joaquin and Stanislaus Counties may have you second guessing if now is really the right time for you to sell your house. While market timing may make a difference in your sale, it should not be the main factor of your decision. Selling your house during a buyer’s market may be the perfect fit for you!
The real estate market is in a place of constant change. Many did not expect for us to be in a buyer’s market right now. Mortgage rates have been expected to fall for some time now and many have waited for that time, though it has yet to come. The waiting has priced many out of the market.
However, even with all that information, San Joaquin County is now in a buyer’s market, there are more homes being sold than people buying homes. When deciding when to sell your home, your personal situation should be the biggest factor in your decision.
Thinking About Selling Your House?
If now is the right time for you to sell, here are some things to know about a buyer’s market.
Homes Often Sell Slow
When we are in a buyer’s market, the buyer has the advantages. The first being that they have time to shop. Houses are not “flying off the shelf” as quickly as we see in a sellers market. You should expect the same when mentally preparing to sell your house during a buyer’s market.
Make sure that you have an extended timeframe in mind for the sale of your house. In a buyer’s market, the average number of days that a house spends on the market tends to increase. This type of market is not so easy for those who need a fast sale. Make sure you are patient if you choose to put your home on the market.
Homes Sell At Or Below The Listing Price During A Buyer’s Market
With sellers having so much competition, oftentimes you will get offers that are not quite what you were hoping for. Buyers will offer below your asking price, ask for repairs, rate buydowns, and other asks. If you are needing to sell your house sooner rather than later, accepting an offer with these may be the best way for you to go. It may not be ideal, but it may be your best way to compete in a buyer’s market.
Home Prices Decrease During A Buyer’s Market
If homes are consistently selling for below asking price, you may find that people are listing homes for a lower asking price. This is another tool you can use to compete in the market. With so many options for buyers to choose from, a lower price can help bring buyers your way!
If you are working with an agent, don’t be surprised by them suggesting a lower listing price than your neighbor got 6 months ago. This is a vastly different market. Pricing according to the market that you are in is an advantage to you as a seller.
There Are A Lot Of Homes Listed The Market
Due to the number of homes that are being listed, the house you have come to love may appear like a dime a dozen to the buyers who are looking at houses like yours. They also may be thinking of biding their time for “the perfect house.” THis is the time to prepare your house and really let it shine!
When getting ready to sell your house during a buye’rs 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
Need An Alternative?
Cash offers are not dependent on any type of market. They also don’t depend on having the latest and greatest within the home in order to complete the sale. If you are already concerned about the competition when you sell your house during a buyer’s market, cash offers help you avoid a number of things in the home sale process that could benefit your situation.
Appraisals and Inspections
Finding a cash offer means no appraisals or 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 is willing to forgo those inspections, allowing you to avoid all the potential pitfalls surrounding the inspection process.
Repairs
Even if you know your house needs repairs, cash buyers like Eric with ASDM Homes buy homes that are in need of significant repairs. Repairs will often be mentioned at some point after the inspection, if not by your agent before you list. Needing repairs could hinder you from getting your house sold in the timeframe that you need.
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!
What Works For You?
Eric with ASDM Homes offers an easier alternative to selling your house fast in San Joaquin and Stanislaus county. 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 – even in a buyer’s market! Selling a house during a buyer’s market can be a long, costly 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 fast! Contact Eric today to find out what you can get for your home and how quickly you can get that cash in hand!