Selling a domicile can be a Herculean undertaking, especially if it necessitates any restorations that potential purchasers may eschew. Despite enlisting the assistance of a veritable estate intermediary, putting up a property for sale in the contemporary market may prove to be a formidable challenge.
In this article we’ll dive into some of the devastating consequences of foreclosure in Florida for house sellers.
Local Florida House Buyers Have Lots Of Options For Houses But Fewer Options For Financing
The present state of the real estate market is marked by a copious surplus of houses up for sale. As the aftereffects of economic unrest linger on in some regions, some types of houses are experiencing slower sales than they did five years ago. However, there is a category of houses that are in high demand, colloquially called the “sweet spot.” These houses usually encompass three bedrooms and two bathrooms, and are located within a price range that is considered middle to lower-middle. They are being sold at an impressive pace.
Selling certain types of houses in the current market poses a challenge due to the shift in lending guidelines since the housing market collapse. Consequently, there are fewer potential buyers for certain types of homes. Moreover, banks are still flooding the market with foreclosed houses in Florida, thereby adding to the existing supply. Furthermore, buyers are much more selective than they were in previous years, having realized that buying a house is no longer a guarantee of appreciation in value at a rate of 3% or more each year.
If you are a seller in this market, you may be becoming discouraged and wonder how you can just sell your Florida house fast, right?
If it seems like you keep putting more money out to improve your home (or if you have repairs but don’t have the money to do those repairs), but are still having a hard time selling your Florida house, you aren’t alone.
The imbalance of power between buyers and sellers can make for a tumultuous experience in the real estate market. For sellers, seeing their beloved property met with criticism or devaluation is certainly not a desirable outcome. However, this unfortunate reality is all too common in a market that skews in favor of buyers.
In Florida, the situation is especially challenging for sellers who hold fast to their asking price despite the high rates of foreclosures in the area. These steadfast sellers are finding themselves the subject of little interest and no offers, leaving their properties stranded on the market for extended periods of time.
How Foreclosures Have Driven Local Housing Prices Down
When the housing market crashed and the foreclosures began to roll in, it flooded the real estate market in Florida.
In instances where the quantity of domiciles obtainable for sale exceeds the amount of prospective buyers seeking to procure them, an overabundance of inventory ensues. This culminates in a more extensive spectrum of selections for purchasers, culminating in a decline in pricing and a diminution of property value in the real estate marketplace.
Despite the recent amelioration in the economic landscape, the predicament of foreclosure endures within the confines of the Florida vicinage, and a profusion of foreclosed properties persists. Additionally, a copious amount of homes held in inventory by various banks have yet to be marketed.
Albeit the present market scenario, one may be able to achieve their selling goals by employing certain strategic maneuvers.
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 an expeditious sale of your house isn’t an exigency, and you have no qualms about forking over real estate agent commissions, then it might be judicious to wait for the market to recover and entice a purchaser who is willing to offer your asking price. The housing market is gradually recuperating, and if you can afford to be patient until the next fiscal year, you may be able to command a higher value for the sale of your property. A proficient real estate agent can be of assistance in proficiently listing and advertising your real estate to interested parties. If you’re uncertain about finding a reliable agent, don’t worry. Reach out to us and we’ll link you up with some of the best real estate agents in town who have a proven track record of selling properties quickly. Email us over here for a Florida area real estate agent referral.
- If you DO need to sell your house fast… In situations where haste is essential in selling a house, the tried-and-true real estate agent route may not be the most ideal solution. Especially in today’s highly competitive market, you might need to offer discounts to pique the interest of potential buyers, and still shell out considerable commissions to your agent, ultimately resulting in a smaller profit margin for you. However, there is another alternative that could deliver quicker and more financially favorable results – enlisting the services of a real estate investment firm, such as 123SoldCash.com - Phone: 786-904-1444, who can help you liquidate your property with efficiency and expedience. We can offer you a fair price for your home and a hassle-free, quick sale process. We buy Florida houses and can make you a cash offer within 24 hours for a fair price. At our real estate investment enterprise, we harbor no interest in the conventional approach of listing your residence on the market. Instead, our objective is to purchase your property directly from you. We are cognizant of the fact that the process of selling a domicile in today’s market can prove to be an arduous task, particularly if extensive repairs or renovations are required. That’s precisely why we provide an expeditious option that alleviates the burden from your shoulders. We assume full responsibility for any and all repair costs subsequent to procuring your property. Post-purchase, we will either convert it into a rental property or channel our resources into restoring it and selling it to another homeowner. This modus operandi engenders a win-win-win resolution for all parties concerned. We do require a discount on the sale price, so that we may secure a profit on our end. However, rest assured that you shall not be held liable for any fees or commissions. It’s worth noting that if your objective is to receive the full retail value for your property, we may be unable to satisfy that requirement.
Reach Out To Us To Sell Your Florida FL House Fast… Even In A Market Like Today’s
If you have any queries regarding our house buying service in Florida, don’t hesitate to contact us anytime. You can either call us at (786) 904-1444 or reach out to us through our Contact Page.
Alternatively, if you’re interested in receiving a fair cash offer for your house today, simply click the link below to access our “Fast Offer” form. All you need to do is provide some basic information about your property, and we’ll take it from there!