A lot of people had plans to sell their homes quickly before the novel Corona Virus struck. Some still do, but the problem is, they’re not so sure how the pandemic will affect the sale. Will the demand be high or low? And what about the supply? Are other sellers looking to try their luck as well?
We Buy Fast Houston Houses cannot answer all your questions today but we can tell you this for sure: We have so many would-be sellers who are still frozen in place. Many of them have decided to hedge their bets, and hope the situation will improve sooner than later.
You don’t have to take this wait-and-see approach, if you’re not in a good spot. We Buy Fast Houston Houses can help you out. Just call us today, and we will make you an all-cash offer.
Things to expect as a home seller in Houston, Texas
- Real estate is sticky
The good thing about real estate is, there are no sudden drops. In the stock market, things work differently. You could wake up today and find a 1200-point spike, and then wake up tomorrow and get a 2000-point drop.
But real estate takes time. Before you realize the properties are depreciating, you’ll have spent at least a year on the market.
Corona virus has only been around for a couple of months. So you still have time. If you had plans of selling, go ahead and sell fast before the property values drop.
- Some properties are easier to sell
We can all agree that this is not a normal market. Therefore, before you list any property, you need to do some due diligence. Talk to your real estate agent or We Buy Fast Houston Houses. Ask us how likely it is to sell my home in this unusual market, and we will give you an answer.
Some of the factors that will influence the sale of a property in Houston, Texas include the price point, online presence and marketability, and the vacancy rate.
How will COVID-19 affect your financial decisions?
Mortgage approval
As a homeowner in Houston, Texas, as long as you continue paying your mortgage, nobody is going to audit your finances. But, should you sell my house fast and buy another one, the lender is going to have to review you credit, debt, income sources, and more importantly, employment situation.
Income security
1940 was the last time we saw the unemployment rates get to these levels. COVID-19 has truly done a number on us. If you’re one of the many people who’ve lost their jobs due to Covid-19, chances are you’ll not be able to secure a loan. Very few lenders will be willing to work with someone in your predicament.
Back-up plan
Having a temporary housing plan right about now might not seem like a bad idea. It will help you should you fail to close the deal on the new home in the next few months.
Trying to sell my home during COVID-19? We Buy Fast Houston Houses is looking for you. So, call us!