If you are trying to sell your existing house, you may find that it is more difficult than you had expected… especially if your house needs repairs that most buyers just don’t want to deal with.
In this article we’ll dive into some of the devastating consequences of foreclosure in Murfreesboro for house sellers.
Local Murfreesboro House Buyers Have Lots Of Options For New Construction Houses
The inventory is down but new construction is on the rise. This usually means that some types of existing houses just aren’t selling as fast as they were especially if they need work… while the “sweet spot” type of house (3 bedroom 2 bath in the middle to lower-middle price range in top notch condition) are selling at a good clip.
Lending guidelines have changed plus dealing with COVID has resulted in fewer buyers out there looking… and buyers are more choosy than they were in years past because many of them have learned that you can no longer buy a house and bank on the fact that it will appreciate a 3%+ a year in value.
If you are a seller in this market, you may become discouraged and wonder how you can just sell your Murfreesboro house fast, right?
If you don’t have the money to improve your home to make it like new and are having a hard time, you aren’t alone. A market full of new construction homes makes conditions for existing homes sellers hard to swallow. No one likes to see their home picked apart, criticized, or devalued, but that is exactly what most existing home sellers are dealing with.
Worse yet, sellers of a house in need of repair and who are behind on payments being threaten with foreclosure may find themselves getting little action and no offers at all… sometimes leaving the house on the market for too long resulting in the worst case scenario… foreclosure..
How Foreclosures Will Drive Local Housing Prices Down
When the housing market crashed a few years ago and the foreclosures began to roll in, it flooded the the real estate market. That means that there was more inventory on the market than buyers. When that happens, that drives the price of everyone’s house down because there are more options (at lower prices) for buyers. The jury is still out on what will happen to home prices when the foreclosures begin after COVID. Most predict a drop in prices..
Selling Your House In A High Foreclosure Market
If you’re wanting (or needing) to sell your house you’ve got a couple options you should look at.
- If you don’t need to sell your house fast and can wait the market out… Get A Great Real Estate Agent On Your Side: If you don’t need to sell your house fast and you can pay the real estate agent commissions… it may be best for you to just wait the market out and give it some time for that perfect buyer to come your way and pay the price you’re looking for. The market will rebound eventually and if you can sell your house next year rather than now… it may mean a few extra bucks in your pocket on the sale at a higher value. A great real estate agent can help you list the house and market it for you. If you don’t have a god local agent, just reach out to us and we can connect you with some great real estate agents we know in town who have shown they can sell a house fast.
- If you DO need to sell your house fast… look for quick sale options like selling your house to us: Selling an existing house needing TLC in a market like this can be difficult if you go the traditional real estate agent route… unless you discount your house in a big way. Then on top of that discount you’ll be paying the real estate agent commissions… which takes even more cash out of your pocket in the end. Another option you should look at is selling your house to a real estate investment firm like Provision Homes. We can make you a cash offer within 24 hours for a fair price. We’re not looking to list your house… we’re actually looking to buy the house from you… we’ll take care of any repair costs after we buy it from you, then we either keep it as a rental property or we’ll turn around and invest our time, money, and expertise into selling the house to another home owner. It can be a win-win-win situation. If you’re looking for full-retail value of your house, we can’t pay that. We do need a discount so we can make a profit on our end, but you won’t ever pay us any fees or commissions.
Reach Out To Us To Sell Your Murfreesboro TN House Fast… Even In A Market Like Today’s
If you have any questions about our local Murfreesboro house buying service just reach out to us anytime.
You can call us at (615) 310-1909 or reach out to us over on our Contact Page.
Or, if you’re ready to get a fair cash offer on your house today, just click the link below to go to our “Fast Offer” form… then fill out some basic info on your house and we’ll be on our way!