Delaying selling? You may want to read about the following 5 reasons why you should consider selling your house right away in Long Island
The showing process Involves constant interruptions, the most convenient time for buyers being your downtime at home in the evenings and on weekends. An additional stress factor brought on by showings is the pressure of constantly maintaining your home. The fact that you could suddenly have buyers popping in means you can never really relax. In order to list the property, it needs to be in picture-perfect condition. From small fixes to an expensive foundation, structural, or larger home system repairs, such as a furnace or plumbing, unless your home is brand-new, you may also have to invest to be ready. Avoiding the expenses and stress of preparing to list and have showings is one reason why you should consider selling your house right away in Long Island.
Avoid Listing Expenses
While not the only expense involved in listing a home on the market in a traditional method, the extremely high commission’s of real estate agents drives many homeowners to attempt the do-it-yourself path of listing their house. After time passes and they have made expensive mistakes, they then turn to a realtor. Top agents demand a healthy marketing budget, they’ll want to control what is done to improve the condition of your home and are likely to include the costs of staging. Along with all of the other fees that may be tacked on, these sellers find themselves digging yet a deeper hole into the property, in order to sell it, with no guarantee of a sale. These commissions and other expenses involved with listing a home for sale are another reason why you should consider selling your house right away in Long Island.
The unknown factor of when your home will sell when listed on the traditional real estate marketplace adds immense stress. Especially if you’re under pressure to move due to financial difficulties, a change in employment, or the need to care for an ailing loved one in another location. Having to pay the costs for two homes when forced to relocate is an important reason you should consider selling your house right away in Long Island. Many budgets are unable to carry such a load. Consider this when exploring the true cost of listing traditionally, either with an agent or on your own.
Low Mortgage Rates
There are changes I had to bank regulations which will likely cause an increase in the mortgage rate. Additionally, the Fed, or the Federal Reserve, has been slowly cutting back on the mortgage backed securities that they are committed to purchasing as the year comes to an end. While they don’t set the rates directly, their actions and policies have an effect on mortgage rates. Acting before rates rise and buyers with already strained credit are becoming scarce is a good reason to consider selling your house right away in Long Island. Much of the Fed’s actions as the progress will be dependent on the outcome of the vaccines in the works for the pandemic and their effect on the economy becomes clearer. There are also new banking capital requirements coming into effect, likely to cause rising rates as well.
All good things must come to an end, and this is true for the current status of inventory available to buyers. While millions of homeowners have come under the protection of the CDC order and have been able to hold onto their property, the likelihood of these homeowners overcoming their economic challenges is extremely uncertain. They will be responsible for timely mortgage payments moving forward, but most have been required to arrange to pay an additional repayment amount, for the unpaid months. As this year comes to an end, experts are predicting the housing market will become flooded with homes that are now under mortgage forbearance, meaning this advantage will soon slip through their fingers. It is also likely that not only will housing prices level off, but there is also an expectation of a drop in pricing as well as the new year begins. Oversupply, leading to lower prices, is a big reason why you should consider selling your house right away in Long Island
By selling directly to CoMax Properties, you can eliminate all of these concerns and expenses! You’ll be ahead of the game with a guaranteed closing date in hand, usually within 30 days or less. CoMax Properties buys your house exactly as it sits, with none of the demands of repairs, showings, or paying all of the commissions, fees, and marketing expenses that come along with listing a home. Ready to learn more about the reasons why you should consider selling your house in Long Island to CoMax Properties right away? Send us a message or call CoMax Properties at (516) 704-7025 now.