The COVID-19 pandemic has created a lot of uncertainty in the real estate market for buyers, sellers and the processes used by the real estate industry. If your plan was to move in 2020, you’re probably wondering if you should sell your home – and how to do it safely. Here’s some insight into current market trends, from our cash for houses Fort Worth team.
Currently, the market hasn’t yet felt the full effects of COVID-19. Many people who were prevented from moving, buying or selling properties are looking to get their plans back on track, so you can expect an increase of homes on the market in the next few months – especially through the summer, the traditional peak time for market activity.
Property prices haven’t fallen, which is good news for sellers. However, you can expect property prices to decrease over the next month and year as the economic effects of the pandemic catch up with us and the tragic reality for many people who have lost their jobs or been forced into foreclosure causes more homes to move onto the market.
This will create a buyer’s market, which is great news for buyers – but not so much for sellers. With a flood of homes on the market and sellers looking to sell quickly to get out of foreclosure, you may wait for many months to sell at the price you want.
As real estate specialists, we would say it’s best to look at your own situation. The effects of the pandemic are likely to be fairly long-term, so you should consider waiting if you are prepared and able to keep your home for the next 2-3 years at least – keeping in mind that it could take the economy and therefore the real estate market longer to return to pre-COVID-19 numbers. In this scenario, you have to be able to afford to wait and sell your home.
If you want to get out of foreclosure, prevent a situation where you could be in foreclosure, move for work or to improve your financial situation, it is better to sell now. The market hasn’t yet fallen, and you may be able to sell your home quickly before property values decrease. That will also put you in a good position to buy a new property when property prices drop, and the anticipated buyer’s market conditions arrive. However, if you choose this route, you have to act quickly before the property values decrease in order to maximize your sale price and profit.
To sell your home quickly is no easy feat, as houses are staying on the market for longer and longer periods due to the COVID-19 pandemic’s economic effects.
If you choose the traditional real estate route, you can generally expect a long wait time which can result in having to accept a much lower selling price. It also means having to deal with lots of potential buyers, which poses a virus risk to you and your family, as well as potentially having to put your plans on hold again if there is a second wave of COVID-19 that is accompanied by lockdowns. At the end of the day, you will still have to pay real estate agent commissions if you do sell, which means less money in your pocket.
The alternative is to sell your home to a cash for houses company. Here, it is essential to find a cash for houses company that is ethical, cares about their clients and is not looking to shortchange sellers.
At Shiny Key Properties, a cash for houses Fort Worth company, we invest in our communities and are passionate about helping our clients. If you want to sell your home quickly, you can do so with one phone call. We will give you a market related offer so you can sell your home in 24 hours. You don’t need to make any repairs to your property, and you pay zero real estate agent commission or fees. It is ideal for anyone who wants to sell quickly before the property market values go down, for people who want to sell their home for a good price rather than waiting 2-3 years, and for anyone who wants to get out of foreclosure.
If you’re selling as is or want to sell your home quickly, we’re happy to buy it. Here’s how our process works:
Our team is compassionate and highly-motivated to offer you the best possible market-related price for your home you want to sell fast. You also pay zero real estate agent commission.
At Shiny Key Properties, our trained consultants have years of experience in helping homeowners to get out of foreclosure or needing to sell quickly. To find out more about our cash for houses Fort Worth service, please contact us today and speak to one of our friendly team members.