Trying to sell your home may prove to be more challenging than you anticipated… This is especially true if your home requires repairs that purchasers are unwilling or unable to undertake.
Throughout this article,we’ll go over some of the most catastrophic implications of foreclosure in Atlanta for those who are selling their homes.
Local Atlanta home buyers have a plethora of options when it comes to houses, but less options when it comes to financing.
There are a glut of homes on the market, and as a result of the recent economic crisis (which is still ongoing in some areas), some types of homes aren’t selling as quickly as they were five years ago… While the “sweet spot” style of property (3 bedroom, 2 bath, in the center to lower-middle price range) is selling at a rapid pace, other types of houses are not.
Part of the reason is that lending standards have changed since the housing collapse, resulting in fewer buyers being available for particular properties… There are still large stocks of repossessed homes in Atlanta, which continue to trickle into the market as a result of bank foreclosures… Property purchasers are more picky than they were in previous years since many of them have realized that they can no longer buy a house and count on it increasing in value by 3 percent or more every year in value.
Sellers in this market may be disheartened and question how they can sell their Atlanta home quickly, which is understandable given the current conditions.
If it appears that you are continually spending more money to upgrade your property (or if your home need repairs but you do not have the funds to do those renovations), yet are still having difficulty selling your Atlanta home, you are not by any means alone. A buyer’s market makes it difficult for sellers to accept the current market conditions. No one wants their house to be taken apart, criticized, or devalued, but that is exactly what the majority of sellers are faced with on a daily basis.
Worse yet, as a result of the catastrophic ramifications of foreclosure in Atlanta, many sellers in the area who are willing to hold out for the price they want are receiving little action and no bids at all… keeping their homes on the market for months at a time.
How Foreclosures Have Contributed to Lowering Local Housing Prices
In Atlanta, when the housing market plummeted and the foreclosures began to pour in, it caused a torrent of activity in the real estate market. This indicates that there is more product available on the market today. Because there are more options (at cheaper costs) for purchasers when this occurs, the price of everyone’s home decreases as a result of the increased competition.
When there is more inventory on the market than there are buyers, the value of the homes for sale decreases.
The verdict is still out on whether or not we’ve managed to climb out of our foreclosure quagmire. Foreclosures continue to be plentiful in the Atlanta area, and banks continue to hold a large number of local properties in their own inventory that aren’t even on the market yet.
However, there are some things you can do in this market to achieve your objectives when it comes to selling your home.
Selling Your Home in a High Foreclosure Market might be challenging.
If you want (or need) to sell your home, you have a few of alternatives to consider. The first is to list your home on the market.
- If you don’t need to sell your house quickly and are willing to wait for the market to improve… Recruit the Services of an Outstanding Real Estate Agent: If you don’t need to sell your house quickly and you have the funds to cover the real estate agent costs, it may be better for you to just wait it out on the market and hope that the right buyer comes along who will pay the price you’re looking for. The market is strengthening, and if you can sell your house next year rather than now, you may be able to put a few extra dollars in your pocket as a result of the sale being at a higher price point. A great real estate agent can assist you with listing your home and marketing it for you. If you don’t already have a terrific local agent, just reach out to us and we’ll put you in touch with some fantastic real estate agents we know in the area that have demonstrated their ability to sell a house quickly. Send us an email over here if you need a referral for a real estate agent in the Atlanta area. Email us over here for a Atlanta area real estate agent referral.
- With the usual real estate agent path, selling your house quickly in this market can be challenging… unless you drastically reduce the price of your home. Furthermore, on top of that discount, you’ll have to pay the fees to the real estate agent, which will take even more money out of your pocket in the end. Selling your home to a real estate investment company such as Georgia Fair Offer is another option you should consider. We buy houses in Atlanta and can make you a cash offer for your home within 24 hours at a fair price. In fact, we are not interested in listing your home; rather, we are interested in purchasing it from you… We’ll take care of any necessary repairs once we purchase your home, and then we’ll either keep it as a rental property or turn around and put our time, money, and expertise towards selling the home to another home owner, depending on our preferences. It has the potential to be a win-win-win situation. If you’re searching for the full retail worth of your home, we’re sorry, but we can’t help you. We do require a discount in order to earn a profit on our end, but you will never be required to pay any fees or commissions to us.
Contact Us if you want to sell your Atlanta Georgia home quickly… Even in a market as competitive as today’s,
If you have any queries regarding our local Atlanta house purchasing service, please don’t hesitate to contact us at your convenience.
You can call us at (404) 855-0944 or reach out to us over on our Contact Page.
Or, if 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!