If you are trying to sell your house, you may be finding that it is more difficult than you had expected. This can be especially true if your house is in need of any repairs. In this article we’ll dive into some of the devastating consequences of foreclosure in Portland for house sellers.
Local Portland House Buyers Have Lots Of Options For Houses But Fewer Options For Financing
There are many homes on the market and thanks to the economic turmoil in recent past some types of houses just aren’t selling as fast as they were 5 years ago.
This is partly because lending guidelines have changed since the housing collapse so there are fewer buyers. Unfortunately there are still stockpiles of foreclosed houses in Portland trickling into the market and buyers are more choosy than they were in years past because many of them have learned that you can no longer buy a house and bank on the fact that it will appreciate a 3%+ a year in value.
If you are a seller in this market, you may be becoming discouraged and wonder how you can just sell your Portland house fast, right?
If it seems like you keep spending money to improve your home, or if you simply don’t have the money to spend and are having a hard time selling your Portland house, you aren’t alone. A buyer’s market makes conditions difficult for sellers.
How Foreclosures Have Driven Local Housing Prices Down?
When the housing market crashed and the foreclosures began to roll in, it flooded the real estate market in Portland. The increasing in options for buyers has caused sellers to list at lower prices. When there is more inventory than buyers, it devalues the homes for sale.
The jury is still out on whether we’ve climbed out of this foreclosure hole or not. There are still lots of foreclosure houses in the Portland area and the banks are still holding many many area homes in their own inventory that aren’t even for sale yet.
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 to sell your house you’ve got a couple options to 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 for that perfect buyer to come your way and pay the price you’re looking for. The market is improving and if you can sell your house next year rather than now, it may mean a few extra bucks in your pocket. 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, reach out to us and we can connect you with some great real estate agents who have shown they can sell a house fast. Email us here for a Portland 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 in a market like this can be difficult if you go the traditional real estate agent route, unless you discount your house in a big way. On top of that discount you’ll be paying the real estate agent commissions, taking even more cash out of your pocket. Another option you should look at is selling your house to a real estate investment firm like Portland Wholesale Property. We buy Portland 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 Portland OR House Fast
If you have any questions about our local Portland house buying service, reach out to us anytime. You can call us at (503) 334-4150 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.