Should I Wait to Sell My House?
If you had plans to sell your home when COVID-19 hit, you’re likely facing a difficult decision as to whether or not to move forward with selling your home. Many sellers are choosing to hedge their bets on the hope that the current economic situation will improve in the upcoming months, while others are deciding to forego the process entirely. If you’re one of the many sellers who does not have the luxury to pull your home off the market, this article addresses whether or not you should delay the sale of your house. If you are interested in partnering with a company that pays cash for homes in Tampa, give us a call at Ethical Home Buyers today.
State of the Real Estate Market
According to a flash survey conducted in early May by the National Association of Realtors (NAR), 38 percent of sellers and 34 percent of buyers reported delaying their home purchase/sale, citing concerns such as the global health pandemic or no longer qualifying due to loss of job. Similarly, CNBC reported that, in the first week of May alone, total listings were down by 19 percent and new listings were down by 39 percent. However, these numbers alone aren’t enough to determine the state of the real estate market. The housing market is more stable in the short term when compared to something like stocks, and it may take a while to see the depreciation aspect of COVID-19.
That being said, the economic future of the United States is dependent on how the country pulls out of the Great Shutdown of 2020. As unemployment skyrockets and companies are struggling to pay employees, you risk the value of your home declining as the housing market begins to buckle under the pressure of a recession. Additionally, a slower real estate market could mean that your house will be on the market for much longer than you initially expected. If you’re looking to sell your house and don’t have the time to wait for the uncertainty of the real estate market to settle, contact our team at Ethical Home Buyers that offers cash for homes in Tampa within a week or less.
Your Safety Comes First
You may be considering delaying the sale of your home due to health and safety concerns. If you’re selling your house via a traditional real estate agent, you may be subjected to potential in-person visits from your agent and potential buyers. While in-person visits should warrant any guests to wear protective gear, such as face masks and gloves, there is still a health risk for you and your loved ones. If you aren’t able or comfortable enough to do an in-person showing, you’ll need to adjust to online tools with professional photos, staging, and videos of the home’s interior.
Especially if your home isn’t in its top condition or is in need of repairs, the traditional route of selling your home via a real estate agent with in-person showings with potential buyers or even virtual tools may not be the best option. Instead of saving up for costly repairs and waiting several months to a year for your home to sell, contact a real estate investor with Ethical Home Buyers. We buy homes for cash in Tampa, FL, regardless of their current condition, location, or price range. This includes vacant, damaged, pest-infested, or simply unattractive properties. We’re prepared to offer you a cash offer in as little as 24 hours.
Disclaimer: This website is not a substitute for legal advice. If you have a serious legal, tax, or other issue requiring professional advice, please consult with an attorney or CPA.