Washington D.C. has witnessed sustained economic growth in recent years. 2018 has been a great year with new job opportunities across major industries and verticals. As more people relocate for employment and business opportunities, it is expected for the real estate market to undergo an upswing and sellers should have an easier time to find buyers. This is not happening. Dependable Homebuyers has released its latest industry insights. The analysis infers that more relocated residents are now renting and not considering buying houses.
Evan Roberts, the founder and owner of the We Buy Houses company, says that the rental market has been undergoing fluctuating changes across the country for nearly ten years now. Recent changes are rewriting the rules. The traditional cycles that residential home markets go through are no longer as relevant or even evident. There are generational changes happening right now. Moving employment opportunities and the larger climate of the economy are leading to major preferential shifts. Younger generations are preferring to rent for many reasons. They are prioritizing life experiences. Many are averse to the idea of locking a down payment and getting tied up with mortgages. The fact that the Federal Reserve increased rates late last year and might do the same again this year does not help the residential real estate market.
More relocated residents choosing to rent is good news for rental property developers. They are also responding accordingly. New residential property development has taken a backseat. Developers are more interested in rental properties. There are sprawling complexes and many state of the art projects in and around Washington D.C. offering the comforts and conveniences of city life but in relatively calmer neighborhoods and relaxing settings. Those who move to Washington D.C. deal with the hustle and bustle of a busy life but they can now unwind in rental properties at reasonable distance from the central district and without spending an enormous sum of money to buy a house.
Dependable Homebuyers is a cash investor. The company buys houses from owners. Real estate agents are not involved, neither is listing services nor are banks. Evan Roberts and his team inspect residential properties of all types and anywhere in Washington D.C. They make upfront cash offers. Their service is free and the purchase offer is nonobligatory. Sellers need not pay anything and have the option to dispose off their asset as quickly as they want. Dependable Homebuyers can present cash offers in a day or two and can complete the sale in a week. Interested homeowners can read a recent press release they published at https://drive.google.com/a/dependablehomebuyers.com/file/d/1VUECzXUXWgiFgzDpnyxQw5AAzrRP2OmC/preview.
Homeowners are struggling to sell their properties in a buyers market. The increased rate of interest is not helping. With more people now choosing to rent instead of buying, the scenario is likely to become inexplicably challenging. The average wait time or time on market is increasing. Sellers are being forced to reduce ask prices to secure closing offers. The only way to overcome such hurdles and secure a fair offer is to consider selling directly to the We Buy Houses company.
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.