In this article we will plunge into some of the devastating consequences of foreclosure in Paducah and Surrounding Areas for house sellers.
Local Paducah and Surrounding Areas House Buyers Have Lots Of Options For Houses But Fewer Options For Financing
There are plenty of homes for sale now, but because of recent economic problems (which are still happening in some places), some kinds of houses just aren’t selling as quickly as they were five years ago. However, some of the houses that are in the “sweet spot” (like a 3-bedroom, 2-bathroom house in the middle to lower-middle price range) are still selling pretty well.
Part of the reason is because lending guidelines have changed since the housing collapsed a few years ago and there are fewer buyers out there for some of the homes. But there are still quite a few homes in forecolsure in Paducah and Surrounding Areas that keep trickling into the market from banks and lenders… and buyers can be more choosy than they were in times past because many of them have learned that you can no longer buy a house and be confident about the fact that it will appreciate 3%+ a year in value.
If you are a seller in this market, and are becoming discouraged, you may wonder how you can just sell your Paducah and Surrounding Areas house fast, am I right?
If all it seems like is that you keep putting more and more money into your home to improve it (or if you have repairs but don’t have the money to complete those repairs) but are still having a hard time selling your Paducah and Surrounding Areas house, don’t fret you aren’t alone. The buyer’s market makes some of these conditions hard for sellers to swallow. No one likes to see their home picked apart, criticized, or devalued, but that is exactly what most sellers are having dealing with if they want to sell their home.
Even worse yet, due to some of the devastating consequences of foreclosure in Paducah and Surrounding Areas, many sellers in the area (who hold out for the price they are wanting to get) are getting little action or no offers at all… sometimes resulting in even leaving the house on the market for months on end which causes headaches when you’re trying to sell because you can’t make the payments anymore.
But Foreclosures Have Driven Local Housing Prices Down
When the housing market crashed and the foreclosures began to roll in, it flooded the real estate market in Paducah and Surrounding Areas. That means that there is more inventory on the market than ever before. And when this happens, it drives the price of everyone’s house down because there are more options (at lower prices) for the buyers out there.
When there are more houses for sale than there are people wanting to buy them, it makes the homes less valuable, and this can make it difficult for those who really need to sell their homes to get the price they want.
The market is not sure yet if it’s completely recovered from the foreclosure problem or not. There are still lots of foreclosure houses in the Paducah and Surrounding Areas area and the banks are still holding many many area homes in their own inventory that aren’t even for sale yet.
But there are still some things that you can do in this market to reach your goals with selling your house.
Selling Your House In A High Foreclosure Market
If you’re wanting to know how (or needing to know how) to sell your house you’ve got a couple of options you should look at.
- If you don’t need to sell your house fast and you can wait the market out… Go Get A Great Real Estate Agent So They Can Be On Your Side: If you don’t have to sell your house quickly and can afford to pay the real estate agent fees, then it might be a good idea to be patient and wait for the right buyer to come along and offer the price that you are wanting to get for your home. In this case you can afford to be picky. The market is still improving and if you can wait and not worry about selling quickly you can sell your house next year rather than now… it may mean a few extra bucks in your pocket on the sale if you can get it at a higher value. But also remember a great real estate agent can help you list the house and get it on the market for you. If you don’t have or don’t know a good local agent, just reach out to us and we can connect you with some great real estate agents we know in town who have shown that they know how to sell a house fast. Email us over here for a Paducah and Surrounding Areas area real estate agent referral.
- If you DO need to sell your house fast… and ARE looking for quick sale options, you can start by being willing to sell your house to us: Selling your house fast in a market like this can be difficult if you go through the traditional real estate agent route… unless you discount your house in a mighty big way. Then on top of that discount you’ll be paying the real estate agent their commissions… which takes even more cash out of your pocket in the end. Another option you should look at is selling your house to a real estate investment firm like Clayton Buys Houses. We buy Paducah and Surrounding Areas houses and can make you a cash offer within 24 hours for a fair price. We’re not looking to list your house that’s not what I mean… we’re actually looking to buy the house from you… in doing so we’ll take care of any repairs and the costs after we buy it from you, then we either keep it as a rental property or we’ll turn around and invest our time, money, and expertise into selling the house to another homeowner. So, in this case it can be a win-win-win situation for us both. If you’re looking for the full-retail value of your house, sorry but we just can’t pay that and we’re not the right fit for you. We’re not trying to leave you with any less money in your pocket, but we also need compensation for our part. Because of what we do and how much time we put into the home we will need a discount so we that can make a profit on our end, but you won’t ever pay us any fees or commissions.
Reach Out To Us To Sell Your Paducah and Surrounding Areas KY House Fast… Even In A Market Like Today’s
If you have any questions about us or our local Paducah and Surrounding Areas house buying service just reach out to us anytime.
You can call us at (270) 551-2171 or reach out to us over on our Contact Page.
Or, if we’ve given you enough information and you’re ready to get a fair cash offer on your house today, just click the link below to go to our “Fast Offer” form… then fill out some basic info on your house and we’ll be on our way!