PDX Renovations

Author: joseph

  • Why NOW is the Time to Sell a House for Cash

    When you have an opportunity to sell your house for cash in today’s market, it is best to give it serious consideration.

     

    A number of factors are adding up to “Sell my house for cash now.” We’ve listed them in this blog, so that you can find the right alternative that will allow you to unload your property at its peak value and profit now before it is too late.

     

    A Tight Lending Environment

    Lenders have done a complete about face since the mortgage market blew up with the subprime lending scandals. What was once seemingly free money is now all but impossible to acquire through a mortgage application. Mortgage banks are still reeling from the fallout over the housing crisis. Those that are still in business are very reluctant to loan money to anyone. Without the ability to qualify for a mortgage, the supply of buyers in drying up.

     

    Low-Ball Appraisals

    If banks are leery, appraisers are downright paranoid. Appraisers, who took a lot of heat for their part in the subprime crisis by overvaluing homes are now undervaluing homes. As a result, if you want to sell your house to a buyer with a bank loan, you’re going to have to sell it for less than it is really worth.

     

    New Regulations

    The government backlash in regulations following the subprime lending disaster have gone into effect for 2014 and they bring new rules that make it harder for buyers to qualify for a loan. Income-to-loan ratios, employment history requirements and higher down payment requirements are pushing many would-be buyers out of the market. First time buyers, people who have experienced time unemployed and retirees on a limited income all face new hurdles when attempting to qualify for a mortgage loan.

     

    Cash Buyers are Becoming Hard to Find

    Remember when, not too long ago, most of the home purchases were all cash deals? Well, that number is down dramatically. With housing prices returning to normal, the big spenders have turned to other investment opportunities.

     

    All of the above factors point to one big problem if you want to sell your house—it’s going to be difficult. Reluctant banks, low-ball appraisals, a lack of interest from real estate investors and tight government regulations add up to a diminishing pool of buyers, decreased demand and downward pressure on the price at which you can sell your home.

     

    The good news is that we buy homes for cash. We’re not fickle investors who have turned to other markets now that real estate has become less lucrative. We specialize in real estate and are in the game for the long term. Individuals seeking to sell a house can turn to us for a fast sell without the headaches associated with bank qualifications, iffy appraisals and government scrutiny.

     

    In a tough real estate market, selling your house for cash to the right source may be your best option.

     

    Do you want to sell your house fast?

     

    Do you have a piece of property (house, lot, or land) you’d like to sell fast?  Fill out our Sell Fast Form and get a cash offer within one hour of us viewing the property.

  • When is Selling Your Home Without a Realtor Easier in Phoenix or Portland?

    Selling Your Home

    If you’ve sold a house (or houses) before, but always through a realtor, you may find the idea of not working with a realtor to be a bit scary and intimidating. Selling Your Home.

    The realtor coached you on preparing the house, handled the marketing, babysat the buyers through showing the house, and dealt with offers and counter-offers.

    The realtor handled listing the house on MLS and elsewhere and dealt with other realtors. You may be thinking “Heavens, I can’t do all that!”.

     

    There is an easy way to sell without a realtor, one that requires little, if any, expertise, virtually no marketing, and no investment in preparing the house to sell. Working through a realtor involves far more work, time, and money from you than the other alternative I will propose.

     

    Realtors are selling to home-buyers who are looking for move-in-ready houses.  That why working with a realtor to sell your home is just that – work!

    • Deciding what condition shortfalls you are going to address before the sale.
    • Getting the work done – and paying for it.
    • Clearing out your clutter and over-supply of furniture.
    • Deciding what upgrades to do for marketing – replace carpet? paint? more?
    • Staging the house – flowers – color schemes – appealing furniture arrangement.
    • Keeping everything perfect for showing, every day – not just cleaning, but orderly closets and cupboards as well. And, corralling the pets!
    • Evacuating the house – leaving it neat and tidy behind you – whenever the realtor has a showing. Interruptions in your evenings and weekends when you are relaxing from work.
    • Fielding offers – making counter-offers – handling negotiations and decisions.

     

    In addition, working with a realtor is an open-ended time commitment – one that often has heavy expenses attached until the final closing.

    • Waiting in suspense for an unknown amount of time before the perfect buyer with the perfect offer happens through your door.
    • Waiting on buyer financing.
    • Keeping up with the mortgage payments and other expenses while you wait.
    • Giving up part of the sales price to realtor commissions and closing costs that can total 8% to 14%.

     

    There is another way! Choose to work without a realtor and without expensive, time-consuming preparation and marketing.

     

    Cash buyers such as PDX Renovations take on houses as-is, without you doing preparation, staging, or marketing. Because they are professional fixers and sellers, they don’t need all the preparation above to attract a traditional home-buyer who just wants to move in and go on with their life. There are no realtor’s commissions, no waiting on buyer financing.

     

    PDX Renovations will come to see your property and make our own assessment of the work needed. Often you’ll have an offer within 24 hours or just a few days. You won’t have laid out any of your own cash or time – once you accept the offer, you’ll close within the next few days. You walk away with the cash, and the cash buyer takes on the house in the condition it is today.

     

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    Question or Prompt for Response – open-ended, relevant

    Have you sold through a realtor?  If you could do it over, would you consider a cash offer instead?

     

    Call to Action

    Do you have real estate (house, lot, or land) you’d like to sell fast?  Fill out our Sell Fast Form and get a cash offer within one hour of us viewing the property. https://patient-liger-dev.10web.site/sell-house-quick/we-buy-homes-bring-us-a-deal/

  • What Are the Costs and Risks of Selling Through A Realtor?

    As I pointed out in my recent blog post “When is Selling Your Home Without a Realtor Easier in Phoenix?” (or “… Portland?”), working with a realtor is just that – a lot of work! And expense and time on your part, especially compared with accepting an offer from a cash buyer without fixing or preparing the property.

     

    What are the costs and risks of selling your house through a realtor? A reputable, professional realtor has their place in the housing market, and many do an excellent job of putting home-buyers in house of their dreams. But if you just want to sell your house as-is, without marketing to buyers expecting a move-in ready house, a realtor has costs and risks that are important to consider.

     

    Significant costs include:

    • The realtor’s commission is the highest direct cost, customarily 6% off the top of the sales price. Regardless of whether you sell at a profit or a loss, the realtor gets the contractually-agreed 6% of the sale.
    • Once you add closing costs of 3% to 8% of the sales price, the total cost with realtor’s commission can be up to 14% of the sales price.
    • Marketing to buyers wanting an attractive, move-in ready home without major issues can mean costs in the thousands to prepare the house for sale through a realtor.

     

    A major risk to the seller is the unknown amount of time it takes to sell through a realtor.

    • Average marketing time is often about 120 days, with another 45-60 days for closing.
    • If you have made high-dollar investments in preparation and staging and your house sells in as little as 30-60 days, you are still waiting for 2 months, often much more, until closing.
    • The longer the time to close, the more likely market prices and interest rates can change, affecting the entire selling strategy and your final closing proceeds.
    • The longer the time to close, the more chance for something to go wrong with the house that is costly to fix, and may affect the sales price or selling strategy. You can fix a water heater and go on as you were, but a major thunderstorm that washes away half the yard is another matter.
    • While you are waiting you must continue to make the mortgage payments, as well as meet the other ordinary expenses of upkeep.

     

    Time, in short, represents an important risk – a risk markets and interest rates change, demand changes, the house needs a costly repair, and of course continuing to pay interest and principal on your mortgage loan. Added to the costs that are already part of a realtor contract, working with a realtor can be quite costly with no promises for your dreams of “top dollar” on your sale.

     

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    Question or Prompt for Response – open ended, relevant

    What is your greatest concern if it takes longer than you expected to sell your house?

     

    Call to Action

    Do you have real estate (house, lot, or land) you’d like to sell fast?  Fill out our Sell Fast Form and get a cash offer within one hour of us viewing the property. https://patient-liger-dev.10web.site/sell-house-quick/we-buy-homes-bring-us-a-deal/