You may be finding selling your house during foreclosure more difficult than expected. If your house needs a lot of repairs most people do not want the hassle of fixing this process my even be more stressful.
This article will dive into some of the devastating consequences of foreclosure for house sellers in West Allis , WI.
Local West Allis House Buyers Have Lots Of Options For Houses But Fewer Options For Financing
There are floods of homes on the market, and thanks to the economic turmoil in recent past (and still going on in some areas), some types of West Allis houses just aren’t selling as fast as they were 5 years ago… while the “sweet spot” type of house (3 bedroom 2 bath in the middle to lower-middle price range) are selling at a good pace.
Part of the reason they are selling so fast is because lending guidelines have changed since the housing collapse. This means fewer buyers are out there for some homes… there are still stockpiles of foreclosed houses in West Allis WI] that keep trickling into the market from banks… but many buyers are more decisive than they were in years past. This is 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 wondering how to sell your West Allis house fast…. right?
If it seems like you keep spending more money to improve your house (or if you need repairs and don’t have the cash for the repairs), but are still having a hard time trying to sell your West Allis house fast, you aren’t alone. A buyer’s market makes conditions hard for seller’s to swallow. No one likes to see their home picked apart, criticized, or devalued, but that is exactly what most sellers are dealing with.
Worse yet, due to the devastating consequences of foreclosure in West Allis, many sellers in the area who hold out for the price they want are getting little action and or offers at all….. leaving the house on the market sometimes for months at a time.
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 West Allis. That means that there is more inventory on the West Allis market. This unfortunately drives the price of everyone’s house down because there are more options (typically at lower prices) for buyers. When there is more houses than buyers, it devalues the properties 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 West Allis area and the banks are still holding many many area homes in their own inventory that aren’t even for sale yet. Good news is there are some things you can do in this market to reach your goals with selling your house.
Selling Your West Allis House In A High Foreclosure Market
If you want (or need) to sell your house you’ve got a couple options you should take a 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. 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 on the sale at a higher value. A great real estate agent can help you list the house and market it for you. If you don’t have a god local agent, just reach out to us and we can 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 West Allis 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. 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 Sparks Property Investors LLC. We buy houses in West Allis and can make you a cash offer 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 West Allis WI House Fast… Even In A Market Like Today’s
If you have any questions about our local West Allis house buying service just reach out to us anytime.
You can call us at (262) 288-0580 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!