The Federal Reserve raised the rates of interest applicable on home loans on mortgages in December, 2018. At the time, the Federal Reserve had announced that two more such reviews are in the pipeline and the rates may be raised further this year. The increasing rates of interest have made it difficult for many buyers to invest in houses in Washington D.C. Sellers are having a tough time securing closing offers. Dependable Homebuyers says that the higher rates environment augurs well for real estate investors with cash.
The We Buy Houses company is a cash investor. It buys residential properties directly from owners. All cash transactions are not uncommon in the real estate market but they are certainly rare given the proportion of investments funded by mortgages. Buyers are reluctant to pay the higher rates. For many, the increased interest jeopardizes their affordability and hence they review their financial plan. Most buyers are now looking for reduced ask prices. Many homeowners are surrendering to the negotiations of buyers and this is hampering the prospects of other sellers. Not all homeowners are in a position to reduce their ask prices. This can cause a significant dent in their net returns. Fortunately for such homeowners, Dependable Homebuyers and other cash investors have upfront offers that can solve the problem.
More houses are currently listed for sale in Washington D.C. than there are buyers in the market. The scenario is unlikely to change. The circumstances can get worse if the Federal Reserve hikes the interest rate again and the increase is substantial. Sellers will have to either reduce the ask prices or let their properties sit on the market for many more months. The alternative is to contact Dependable Homebuyers and let them present a cash offer. Here's a recent press release they published. The company has a track record of conducting prompt inspections and putting forth purchase offers in a day or two. They can also close sales immediately and complete the cash transactions in seven days or less.
Dependable Homebuyers is an independent investor that does not seek loans from banks or third party investment companies. The company does not appoint real estate agents to do their bidding so no commissions are due to realtors. The closing cost that is usually paid for by sellers is also assumed by the company. No appraisal is necessary since banks are not funding such acquisitions. Sellers do not have to reach out to normal buyers so there is no listing, marketing or advertising. Dependable Homebuyers has a straightforward cash offer and homeowners are free to consider it or reject it without being hasty.
More cash investors are venturing into residential real estate due to the higher rates environment. They are realizing the potential of the market when buyers are finding it increasingly difficult to make a serious commitment. Real estate investments are not simple and high interests make the propositions tougher. The We Buy Houses company is effectively countering the negative effects the Federal Reserve has had with its interest hike and this is helping homeowners who do not want to sell their properties at a subpar value. Visit https://dependablehombuyerswashingtondc.home.blog to easily get a schedule and an offer.
SOURCE: Press Advantage [Link]
Dependable Homebuyers is a local home buying company in Washington, DC. We buy houses in any condition and any situation. If you want to sell your house fast, give us a call at (202) 503-2783 and we’ll provide you a cash offer within 24 hours.
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