I Want to Sell a House for Cash: Should I Go Ahead or Wait Until 2023?

sell your house in Ferndale

Are you in the middle of deciding whether to sell your house in Ferndale now or wait for the next year? Well, this is the best place to make an informed decision.

Selling a house is a big decision that directly impacts your life. So, it should not be done in a hurry. Why? The real estate market is unpredictable. Timing is crucial when selling your property, whether it has legal issues or structural damage.

Over the past two years, the demand for houses has been high, thanks to low mortgage rates. As a result, homeowners received desired selling prices for their properties. But things have started to change. The demand is down, so you might face lower prices.

Moreover, with the current inflation, the fear of recession in 2023 is at its peak. One question may cross your mind: will the situation improve in the next year, or will it get worse?

As the leading cash home buyer, we suggest you sell a house fast for cash in Ferndale. First, the industry is uncertain. It is hard to predict what the future has in store. In addition, holding property will add to your expenses. If you are not convinced, here are some reasons to consider a home sale now.

  1. Seller’s market

According to real estate experts, it is still a seller’s market. That means you can find a buyer easily without compromising its value. Indeed, mortgage rates are currently high. But if inflation does not end, it is likely to increase exponentially. 

  1. Low housing supply

If you want to sell your problematic property, now is the right time. Currently, the housing supply is low, with a shortage of three million properties to fulfill everyone’s needs. Thus, you have a higher chance of getting a suitable buyer if you make preparations like repairs, staging, marketing, etc.

  1. Increasing prices

In the second quarter, the US experienced a slowdown in increasing home prices, but you can still expect a 16.1% gain. Thus, if you sell a house fast for cash in Ferndale, MI, you will receive better pricing compared to the first quarter.

  1. The boom of cash home sales

In 2021, there saw a sudden increase in cash home sales because of the convenience and speed. These real estate investors allow home sellers to take their properties off the market in no time. Most people have the misconception that they pay an unfair price. But in reality, they offer a little less without letting homeowners spend time and money on repairs, staging, marketing, commissions, etc.

In closing

Based on these points, it is clear that it is a good time to sell your house. However, further delays can make you lose this opportunity. At Detroit Cash For Homes, we buy properties as-is. That means you do not have to waste your time and money on repairs. Our motive is to ensure a hassle-free and quick home-selling experience for all, regardless of the house condition.

If you want to sell your house in Ferndale fast, contact Detroit Cash For Homes.