If you are facing some financial hardship, you may be trying to sell your house and finding that it is more difficult than you had expected… especially if your house has any repairs needed that buyers just don’t want to deal with.
In this article we’ll dive into some of the devastating consequences of foreclosure in GreaterBoston for house sellers.
Local Boston Area House Buyers Have Lots Of Options For Houses But Fewer Options For Financing
Even with the “seller’s market” that we are experiencing due to the low amount of real estate inventory during the pandemic, some houses just are not selling.
If you are a seller in this position, you may be becoming discouraged and wonder how you can just sell your Boston house fast, right?
If it seems like you keep putting more money out to improve your home (or if you have repairs but don’t have the money to do those repairs), but are still having a hard time selling your Boston area house, you aren’t alone. No one likes to see their home picked apart, criticized, or devalued, but that is exactly what sellers like you are dealing with. Worse yet, many sellers in the area who hold out for the price they want are getting little action and no offers at all… sometimes leaving the house on the market for months on end.
How Foreclosures Drive Local Housing Prices Down
When foreclosures begin to roll in, it floods the real estate market. That means that there is more inventory on the market. When that happens, that drives the price of everyone’s house down because there are more options (at lower prices) for buyers out there.
When there is more inventory than buyers, it devalues the homes for sale.
The jury is still out on whether or when we will see a rush in foreclosures after Governor Baker lifts the halt on Massachusetts foreclosures. But there are still lots of foreclosure houses in the Boston area and the banks are still holding homes in their own inventory that aren’t even for sale yet.
But, there are some things 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 (or needing) to sell your house you’ve got a couple options you should look at.
- If you don’t need to sell your house fast and can wait the market out… Get A Great Real Estate Agent On Your Side: If you don’t need to sell your house fast and you can pay the real estate agent commissions… it may be best for you to just wait the market out and give it some time for that perfect buyer to come your way and pay the price you’re looking for. A great real estate agent can help you list the house and market it for you. If you don’t have a good local agent, just reach out to us and we can help you or connect you with some great real estate agents we know in town who have shown they can sell a house fast. Email us over here for a Boston area real estate agent referral.
- If you DO need to sell your house fast… look for quick sale options like selling your house to us: Selling your house fast can be difficult if you go the traditional real estate agent route… unless you discount your house in a big way. Then on top of that discount you’ll be paying the real estate agent 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 Mass Property Solutions. We buy Boston area houses and can make you a cash offer within 24 hours for a fair price.We’re not looking to list your house… we’re actually looking to buy the house from you… we’ll take care of any repair 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 home owner.It can be a win-win-win situation.If you’re looking for full-retail value of your house, we can’t pay that. We do need a discount so we 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 Boston MA House Fast…
If you have any questions about our local Boston area house buying service just reach out to us anytime.
You can call us at (781) 253-0088 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!