March 2024 | Buy and Sell Properties Online New York March 2024 | Buy and Sell Properties Online New York

Month: March 2024 Posts

How We Buy Any House Hassle-Free?

The term ‘we buy any house’ sounds so relieving, doesn’t it? Well, it really does!

If you wish to sell your home as soon as possible and have no time to go through the traditional lengthy home selling process, ‘we buy any house’ companies can be your savior!

Due to the swift, hassle-free, and convenient method of selling homes that ‘we buy any house’ services facilitate, the concept has gained great popularity in different housing markets.

So, let’s try digging deeper to understand more about the ‘we buy any house’ companies and how they can help you with a smooth and quick sale.

What Are ‘We Buy Any House’ Companies?

The term ‘we buy any house’ is used for companies that buy houses directly for cash or are in the quick home sale industry. Property is purchased directly from homeowners by these companies.

They provide a simplified and streamlined approach to property sales, unlike the traditional property sales which entail real estate agents and perhaps lengthy, drawn-out procedures.

Their main selling points are convenience and speed. Regardless of a property’s condition, they can make quick offers on it and finish the transaction far faster than they might on the open market.

Purchasing properties, often renovating them, and then reselling or renting them out for a profit is the core of their business model. Even if they make the selling process hassle-free, they usually do so in exchange for paying less than the property’s market value.

Why Would You Deal With A ‘We Buy Any House’ Company?

When selling your home, there are several reasons why a ‘we buy any house’ company can be a better option than a traditional real estate agent, who can usually take months to finalize a deal.

Let’s have a look at how dealing with these companies can benefit you.

1. Speedy Process Of Selling

A quick home sale or cash sale can be finished in as little as two weeks or less, which is especially helpful if you need to sell your property quickly for reasons like financial constraints, shifting, or other urgent reasons. While traditional estate agent sales can take several months to complete.

2. Elimination Of Property Chain

A property chain, as defined by the traditional sales process, is a series of interconnected transactions in which the sale of one property is dependent upon the sale of another.

Because of this, they can be a major cause of stress and uncertainty as the sale depends on the transactions of several parties. Unlike this, ‘we buy any house’ companies terminate the need for a property chain.

3. Assurance Of Sale

In a traditional sale, the transaction may collapse for many reasons, including buyer finance difficulties or a change of decision, even after an offer has been accepted.

Due to their readily available money, ‘we buy any house’ companies eliminate the risk of last-minute cancellations, providing homeowners with greater assurance of sale and peace of mind.

4. Helps Save Repair Expenses And Time

A ‘we buy any house’ company will purchase your home “as is.” You can easily escape renovating expenses or repairs.

Additionally, there’s no need to organize the house in anticipation of numerous viewings. This might spare you from the ongoing headache of maintaining a pristine home as well as help save both time and effort.

5. Helps Avoid Estate Agent Fees

A typical commission for estate brokers is a percentage of the transaction price. Dealing with ‘we buy any house’ companies can help you save money by avoiding estate agent fees.

You will directly receive the amount these companies offer, assuring transparency and certainty in the transaction.

How Does The ‘We Buy Any House’ Process Work?

Selling property to a ‘we buy any house’ company is an easy and quick process. The majority of legitimate companies will walk you through the below steps.

  • Fill out the online inquiry form found on their website. They will take some time to look into the property after you give them the necessary details. There is no need to come in person for this. Instead, they rely on appraisal software linked to homes similar to yours. They can then assess a property’s true value in the current market in this way.
  • Within a day of receiving your information, the company will send you an offer. Typically, a phone call will be made to go over the offer, the timeline, and when you might anticipate receiving the money. At this time, you will also have the opportunity to ask questions.
  • Further, upon reaching a mutual understanding, the business will submit a written offer to you. You’ll complete the papers and send them back.
  • An independent solicitor will represent you. It will also be covered by them, so there will be no expense to you.
  • The company you are selling your home to will also pay for a surveyor to evaluate your property. They will submit a final offer after obtaining a valuation report and legal check.
  • The company will confirm the completion date that works for you once again. Finally, there will be funds in your account on the completion date.

The Final Say

Despite all the benefits, the most important step you shouldn’t miss out on if you want to sell your house quickly for cash to a “we buy any house” company is to make sure you’re dealing with a legitimate company. You can do this by ensuring to complete some background checks so you can get a genuine and better deal.

We really hope this blog helps you.

Are you looking to close your deal with lightning speed in just 3 days? If yes, we have got your back!

At Elite Properties, based in New York, we buy your home “as-is,” with no costs or commissions. For your home, you receive the highest cash offer. Not only this but we also pay for all closing and legal fees and most importantly – you can trust us! So, let’s get in touch!

For many home buyers and sellers, 2023 has been a challenging year. This is due to the fact that many people cannot afford the costs of houses and mortgages. Meanwhile, a scarcity of available housing has increased rivalry among buyers, making it difficult to locate the ideal property.

A valid question that a lot of buyers and sellers are posing is: Will things in the real estate market get better soon?

Numerous forecasts already exist predicting the trajectory of the US housing market in the next five years. This is because, ultimately, real estate buying and selling usually require long-term planning.

In spite of being a hot topic, the US housing market seems to be slowing down after growing rapidly during the pandemic years. Experts believe that things will get worse before they get better, given the turbulent ride that the US housing market has been on in recent years. Some forecasts also predict that there will be fewer homes available for purchase, which may drive up prices.

Let’s take a deeper dive to understand more about the US housing market predictions for the next five years. So, here we go!

Current State Of The Housing Marketing

It’s useful to evaluate the current status of the US housing market before you jump onto the predictions for real estate forecasting for the next five years.

The recent data shows that U.S. home prices increased by 5.1% in January 2024 over the same month the previous year. Currently, the median price of a home in the US is approximately $402,242.

There were 2,87,009 homes sold in January of this year, up from 279,249 homes sold in the same month last year, representing an average 2.8% annual increase in the number of homes sold.

At 6.6%, the average 30-year fixed mortgage rate nationwide has increased by 0.4% in the past year.

Housing Market Predictions For The Next 5 Years

While predicting the housing market over the next five years is challenging, the following gives an idea of what data shows and what most experts believe is possible.

The land use and real estate industries have been significantly affected by the COVID-19 outbreak. Over the following five years, these effects will still have a mark on the supply and demand in regional housing markets.

The fitness of local job markets, the prevalence of hybrid work mode, emerging technology, and shifting demographics are some of the factors that are anticipated to continue having an impact on the housing market in the future.

On the other hand, if real incomes increase more quickly than inflation, affordability, home sales, and prices may all increase due to increased purchasing power and reduced mortgage rates. Home prices will probably increase by 1% to 2% over the present inflation rate if real incomes increase between 2025 and 2027. It may take some time to get to the mid-2022 home value highs.

Let’s also have a look at what more the data has to say about the home prices, home sales, and mortgage rates below.

1. Home Prices

The National Association of Realtors predicts that by the end of 2024, home prices, which were down 0.8% year over year through December 2023, will have increased by 1.8% to $390,000.

Given the significant increase in home prices from 2021 to 2023, it is anticipated that by 2025 through 2028, prices will climb more gradually at a pace that is approximately 1% higher than the rate of inflation, or an estimated 13% to 14% higher than 2023 levels.

2. Home Sales

Existing home sales are expected to soar in 2024 and 2025 as mortgage rates decline, building on their 2023 rapid decline to the lowest level since 1995.

The capacity of builders to lower mortgage rates to increase affordability contributed to the growth in new house sales in 2023, and this trend is expected to continue.

3. Mortgage Rates

Over the course of the forecast period, 30-year fixed mortgage rates are expected to steadily decline, but it is doubtful that they will drop below 5.0% since rising public debt in the US and globally would restrict the amount of financing available.

Some Expert Predictions

Nobody owns a crystal ball, and accurately anticipating five years in advance is difficult. Since it’s still a long way off, a plethora of unforeseen circumstances could arise and throw off our predictions about how the economy and home market will behave.

Having said that, experts are still prepared to provide a long-term outlook.

According to McBride, during the next five years, average yearly growth in house prices will be in the low- to mid-single digits. According to him, this rate of appreciation is in line with the long-term average of house prices rising at a rate that is marginally higher than the rate of inflation.

Lawrence Yun, chief economist for the National Association of Realtors, predicts that during the next five years, the rise of total price growth across the country would likely range from 15% to 25%.

Greg McBride, chief financial analyst at Bankrate predicts that during the next five years, the US real estate market would likely yield an average annual return of the mid to low single digits.

We are aware that, over time, real estate often yields stable long-term returns that outpace inflation. Although there is never a straight line, we may be more certain of the general direction of travel over a longer period of time – and in the case of real estate, that has historically been upward.

We really hope this blog was helpful to you in gaining better insights!

Are you looking for more guidance from professionals to make the right decision at the right time to ace your real estate transactions?

Elite Properties is acknowledged as one of the top real estate companies in New York City because of our extensive experience. We are committed to providing our customers with the highest quality service in real estate. Contact us today!

After reading the title – how to sell your house in 5 days? of the blog, it can make you wonder in the first place whether selling your home in just 5 days is even possible or not.

Well, it is!

There can be various events in your life that can push you to sell your house at a lightning-fast speed. You might be required to make a sudden shift to a new place, have a job change, and whatnot.

There are many reasons, but practically selling a house in just 5 days or a shorter period sounds challenging. As we all know that real estate transactions involve several tedious steps and processes. Nevertheless, you can manage to get your deal done in a quicker and shorter period like 5 days with some smart techniques.

So, let’s get your hands on these super quick ways that will help you understand how to sell a house in 5 days.

Here we go!

Ways To Sell A House In 5 Days

1. Contact Cash Home Buyers

The U.S. News Real Estate states that, according to the Ellie Mae Origination Insight Report, the average time to close on a home purchase was 49 days, and the average home sat on the market for 22 days as of November 2021. This means the total average time from listing to closing is 71 days. However, the amount of days a sale is on the market and the closing time will differ for each market and sale.

Now, with such stats in hand, you can figure out how advantageous it can be to sell your house to cash home buyers like cash home-buying companies, local investors, and iBuyers. This method can ultimately cut down the time it takes to get an offer and close down your deal.

You can save your time on pre-listing preparations, showings, open houses, and sometimes even repairs. Another big edge is that it eliminates the need for a financing contingency.

However, every aspect has two sides, and so is with selling your home to cash home buyers. Cash home buyers will usually pay you 75% or less than the fair market value of your home. Still, it’s your best bet as you are required to sell your home in just 5 days or closer to it.

2. Hire A Top-performing Agent

Yes, this could be your savior if you want to sell your home in just 5 days. A quick-sale expert agent can help you understand the traditional real estate process and modify it for you to facilitate a speedy deal for you. Once they understand your timeline, they take up the responsibility to ensure you keep up with everything involved to streamline the deal faster.

Apart from such great support, selling your house through a realtor increases the likelihood of a bidding war and bids over the asking price. That will more than cover the real estate agent commission. This is typically between 5% and 6% of the sale price.

In addition to first-time purchasers, a realtor can also provide you with offers from cash home-buying companies, iBuyers, and nearby real estate investors.

3. Price Your Home Below Fair Market Value

Pricing your house below fair market value can give you a competitive advantage, especially when you want to sell faster. This tactic will get you more eyeballs online where the realtors and buyers can see that your house is underpriced.

However, ensure that you mention that the reason for the lower price is that you want to sell faster. This will help you get a genuine and bigger net of offers quicker, mostly attracting cash home buyers and first-time home buyers.

Above all these, there are fewer chances of contract issues like appraisal issues if a home buyer intends to obtain a mortgage.

4. Offer Buyer Incentives

This is yet another interesting way to crack a deal in 5 days. It is like presenting a sweetened deal by marketing irresistible benefits to potential buyers to get offers faster.

Here’s what you can do:

  • You can offer the home buyers to cover their closing costs which can help them save thousands of dollars.
  • Further, you can attract more home buyers and make the deal appealing by leaving your home appliances or other hard-to-move home stuff for the buyers.
  • A full year’s worth of HOA or condo dues may be required by some homeowners organizations at closing. In addition to accelerating negotiations, offering to pay that expense could save homebuyers some dollars at closing.
  • Selling your house with a flat repair credit could save you and the buyer a great deal of time and stress when negotiating after-inspection repairs if your house requires significant repairs.

Pro Tips For Preparing Your Home For A Quick Sale

Get your home ready for a quick sale with these pro tips:

  • Start with decluttering your house by organizing all the stuff and clearing out all your personal belongings.
  • Get a pre-listing home inspection to attract more serious offers by sharing the results with the buyers.
  • Improve your home’s appeal by making high ROI upgrades or cosmetic repairs such as painting or flooring.
  • Adding a floor plan of your house to your listing will help buyers better understand your home’s layout and room sizes. This will cut down your home’s time on the market.

Frequently Asked Questions

1. What type of house sells fastest?
Starter or small homes usually sell fastest due to their affordability and their broad appeal to a wide range of buyers.

2. How long do most houses take to sell?
Zillow estimates that selling a house takes 55-70 days on average in the United States.

3. In what months are houses hardest to sell?
In the U.S. winter is usually the worst time to sell a house because of unfavorable weather. Also, the perception among buyers that owners must be eager to sell during the busy holiday season.

That is it. We hope this helps! You can get in touch with Elite Properties for more immediate support!

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