Interest rates are still up and have slowed down the real estate market in Detroit over the past few years following a recent rebound. Selling your house fast when there are less buyers can be a challenge. Here at the office of Detroit Fair Offer, we receive multiple calls from frustrated sellers every day. With more homes hitting the market, the active homebuyers and property investors can be choosier when it comes down to their purchases. It also allows buyers to have more leverage when it comes to negotiating a purchase and sale. If you are a frustrated seller in this situation then you may have already experienced this. In this post, we will help you navigate the process and give you some extremely valuable help. This does not have to be complicated! We will provide you with some powerful information you can implement right away! So, how do you achieve selling your house fast when there are less buyers in the Detroit real estate market?
Consider the competition
Remember that you aren’t the only one attempting to sell a house in the area. Housing inventory in the city of Detroit is relatively high right now. This means that you have a lot of competition working against you in the market! Here are some details you may want to consider looking into when selling your home or rental property. How many days on the market have the other homes been for sale in the immediate area? To find this information you would look at “active” listings which you can find on sites such as Zillow or Redfin. You should also look at all recent “sold” listings from within the last 6 months as well. This data should give you a clear understanding of what you might expect of price and timeframe when selling. Also, in comparison to those recent sales, what is the overall condition of your house? Has your property been updated within the last 5 years? What is the age of the roof? How old is the furnace and the windows and electrical, plumbing etc.? How well maintained is the exterior of the home? Are the properties on either side of yours occupied or vacant and what condition are they in? These are all highly important factors to consider.
If you decide to hire a realtor to sell your home, gather the following information from them before signing an agreement. How many homes have they sold as a listing agent during the last 6 months to a year? What was the average days on market for those homes and ask them to show you on paper! How many price reductions were there on those listings, if any? You could even ask them for referrals if you want! Remember, you are hiring them to provide a service and during that time, they work for you!
Are you willing to work out a fair and reasonable deal to get your house sold? If you are really trying to sell within a tight timeframe, consider this. Selling a property in Detroit is not easy and hiring a real estate agent may not fit your specific needs if you are wanting to sell now. Expecting to receive the highest and best offers and to have a bidding war for your home is not usually realistic in today’s market. Real estate markets move in cycles based on many variables beyond the scope of this article. Selling a house by utilizing the service of a real estate agent is not the end all be all to getting it done. Why overcomplicate things when you don’t have to? Maybe you don’t have the money or means at the moment to pay for repairs on the home before selling. Maybe you are not even able to be physically present to oversee the process of the sale. Many home sellers are facing these circumstances. You can actually avoid paying real estate commissions and closing fees altogether and close quickly. Selling your house fast when there are less buyers in the market can be done hassle free by selling to Detroit Fair Offer.