Dependable Homebuyers, a real estate investment company based in Maryland, has issued an advisory alerting homeowners who want to sell their residential properties that the market is now saturated and finding a buyer is becoming increasingly harder. The residential real estate sector has undergone a slump over the last twelve years. While the new year was expected to be better for the sector, that has not happened and it continues to be a buyers’ market.
According to the latest statistics available, there has been a sharp increase of nearly seven and a half percent in the number of properties listed for sale in the market. The overall inventory of properties may not have witnessed a tectonic shift but over seven percent rise in the number of available houses for sale clearly provide more options for buyers. The situation is ideal for buyers but unfavorable for sellers. This has already had a direct impact on the average wait time for listed properties. The days on market average for the month of April in 2019 was sixty five. The average indicates many properties are remaining listed for nearly ninety days or more before there is any closing offer. Not all closing offers go through and some houses are relisted soon after.
A buyers market is unfavorable for sellers and there are two distinct reasons. The availability of more properties simply means buyers do not feel compelled to choose one due to dearth of options and this has an impact on the ask price. If buyers find a specific range of ask prices too high, they can always look elsewhere. Sellers have to reduce the ask price and this can immediately dent the return on investment. More of Dependable Homebuyers services can be found here. The other significant impact is on the financial liability. If the ask price is not being reduced and a property is not in the most desirable state, then homeowners turned sellers have to spend a lot of money on improving the condition of the house for it to be deemed worthwhile by buyers. Since buyers have other options, sellers are not left with any but to invest.
A saturated real estate sector has more challenges for homeowners and sellers. Those dealing with financial problems may consider refinancing or a second mortgage. However, the fluctuations on long term mortgages do not make them an ideal option purely from the financial perspective. The proposition of Dependable Homebuyers has never mattered more, given the straightforwardness and the ease with which a homeowner can sell their property.
The We Buy Houses company has an ability to expedite real estate sales. The company makes a direct offer for homeowners. No real estate agent is involved. The purchase offer is made in twenty four hours and the deal can be closed within a week. This includes the actual transaction. Dependable Homebuyers is interested in all types of residential properties, regardless of its condition and the location in Maryland. The company buys properties that are in dire state and need repairs or renovations. Read the recent press release they published at https://www.pressadvantage.com/story/28064-dependable-homebuyers-has-an-alternative-to-reverse-mortgage-in-maryland.
SOURCE: Press Advantage [Link]
Dependable Homebuyers is a local home buying company in Maryland. We buy houses in any condition and any situation. If you want to sell your house fast, give us a call at (443) 219-8331 and we’ll provide you a cash offer within 24 hours.
August 01, 2019 – Dependable Homebuyers says the Real Estate Market in Maryland is Booming