Real Estate
Times are tough all the way around. Life is more expensive for everyone and some of us are looking for a way to make ends meet. Extra funds could go a long way for a number of families right now. With over ⅔ of homeowners having more than 50% equity in their home right now, that equity could be your ticket to the next chapter of life.
What Is Equity?
Equity refers to how much money you have available in your home. For example, if you owe $200K on your home right now, but it’s worth $600,000, you have $400,000 in equity. You acquire this equity in two ways. The first is by paying down your loan, and the second is by your home appreciating in value.
Taking Advantage of Your Equity
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 37 days.
Seller Problems In A Buyer’s Market
When selling in a buyer’s market, there are a number of pitfalls you are likely to face. You are looking at a lot of competition when selling. However, you can avoid these issues with the right mindset and preparation.
Preparing To Sell
When you decide to sell your house, you should get your home market ready! Do any necessary repairs and choose some renovations or fixes to really make it stand out! Make sure to spend some time sprucing up the outside as well so you make a great first impression.
With a buyers market, you may be looking at a longer time to sell than you originally anticipated. This is even more true if you are unable to make your home stand out in the market with repairs or renovations. Keep this in mind so that as you wait for your home to sell or your listing expires, you won’t be discouraged from the results you are getting.
Receive A Cash Offer For Fast And Easy Home Selling
If 2024 is the year you move into the next chapter of your life, and the traditional way of selling a home is not going to cut it, know there are alternatives out there!
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 And Renovations
Even if you know your house needs repairs and just won’t be able to compete in the buyer’s market, 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. Repairs can 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!
Getting Your Cash Offer
Eric with ASDM Homes offers an easier alternative to selling your house fast during the buyer’s market 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. Selling a house during the market can be a long, costly and difficult process right now. 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!