If you own your own home, you may have found yourself in a distressed situation before, or perhaps recently with the COVID-19 pandemic that swept America and the rest of the world. Many homeowners have found themselves on the verge of foreclosure, short sale or bankruptcy recently because of the pandemic combined with other factors that created a financial crisis. However, before considering a short sale, foreclosure, or bankruptcy you should know there is another option: a cash buyer. There is no good reason to leave money on the table because right now the market is in your favor. Most housing market statistics that you ready, especially in California, indicate a replenishing housing price market and that prices will continue to rise over the next year at least. We know this, and we also know that it is hard to sell your home fast when you are under pressure, or simply because you want to use the time rebuild your nest egg. So, we offer more than just cash for homes. We offer you prices, based on insight and promise you a smooth and easy process with no hidden costs or terms. With that, let’s start with some recent facts in the housing market.
Things to avoid include the dangers of:
- Short Sales
- Reverse Mortgage
COVID-19 will soon become forgotten, but because of this it could be a great time to seek the right way out of financial obligations lead by banks and mortgage institutions, that have been going by the rules until these circumstances are over. The home just like all of our basic needs of survival including social distancing and economic lock downs, promoted situations that would not have been beneficial to long term savings or retirement goals. And the best exit will not be the foresight of a mortgage lender.
Understand The Market & Process Before You Sell
Do you know what your home is worth? Maybe you have some deferred maintenance that you think will lower the value. However, perhaps your home is in a highly desirable area and buyers will look past the deferred maintenance. Before the pandemic much of the U.S. saw a shortage of homes on the market and the pandemic only amplified the inventory shortage problem. So, knowing what you have and what the market is can be the difference between giving your house away or being able to alleviate all of your financial burdens…
Even with the pandemic behind us, we continue to see a lack of inventory. However, this lack of inventory has now been coupled with delays in new construction and rising costs and shortages of labor and materials. And if that wasn’t enough… we see baby boomers determined to “stay in place” or “age in place” and delaying their moves to retirement living or smaller properties. Meanwhile, millennials have matured to the perfect home buying age and they have started families.
All of these factors have created a perfect storm where inventory is predicted to remain low for a few years. So, what does this mean to you? This means your property is possibly worth more than you think. And, if you have a mortgage and owned your home for more than 4-5 years, your equity position is almost guaranteed to be higher than your balance owed. Meaning, if you did a short sale or foreclosure, you would be selling for what your balance is and not what a buyer would be willing to pay… leaving money… your equity on the table (giving it to the bank).
The Cash Buyer Option
This is the first time in history where investors are actual consumers. If you look back to the financial crisis of 2008, property investors were like sharks in the water. They circled distressed homeowners and gobbled up properties for a fraction of what the homeowner owed the bank. Homeowners were upside down and so short sales and foreclosures were their only option. Now is different. The severe lack of inventory and the high demand has created an imbalance in the market that has never been seen. Investors know this… cash buyers know this. And if you look at the numbers, they tell a story that prices will continue to go up.
Zillow shows that despite the pandemic, prices went up over 7% in the San Francisco-Oakland-Hayward area and will go up another 14% over the next 12 months. So, while you may feel in a distressed situation and perhaps desperate to get out from under the water, your home is an easy sale right now, and you will be able to get the money back you deserve after these challenging times. Your paid for home or mortgage, is a valuable investment that others (including investors) will pay market value for. We understand the uniqueness of this market and therefore we are not looking to strong arm anyone for a “great deal”. We know that this can be a win-win situation for you and us. We offer a fair cash price and will even pay the costs of the sale, so you don’t have to. We would be happy to confidentially discuss your situation and determine if a fast cash buyer option is the right solution for you.
Reach us here at https://www.mrfastcashbuyer.com/contact-us/ to connect with an agent in Northern California today.