5 Facts Sellers Need To Know About Philadelphia Real Estate

5 Things Homeowners Need To Know About The Current Real Estate Market in Philadelphia

If you are thinking about buying or selling real estate, learn the 5 Facts Sellers Need To Know About Philadelphia Real Estate. Keep reading to learn more about what is happening now and what the experts are predicting to happen in the months ahead! 

Whether you are buying or selling a house in Philadelphia, it’s important that you know the conditions of your current real estate market. Below we take a look at some of the trends in the real estate world so you can determine what you want to do next. As always, reach out to us if you have any questions about buying or selling real estate in Philadelphia or the surrounding areas.

What Is Happening Today

With an uncertain economy and the effects of Covid-19, both buyers and sellers may be uneasy about the current state of real estate. While this may seem challenging, as a seller it can actually be beneficial now as there is less competition from other home sellers. With fewer homes on the market, there will be more interest in yours. There has not been a drop off in interested buyers, so compeition among buyers for the limited inventory has become fierce in the Philadelphia market. Sellers are finding great opportunities, despite the virus and unstable economy. In other words, it could be a great time to cash in your real estate gains.

Interest rates are hitting all-time lows, however, lenders are tightening up credit requirements for a loan. Current economic conditions pose a threat to lenders if their borrowers aren’t able to repay their loans, and lenders aren’t able to foreclose of mortgage defaults. While the interest rates may motivate more people to want to buy, it doesn’t mean they will be able to get the financing to do so. Offers with mortgage contingency clauses may not be as appealing to sellers at this time.

Predictions for The Future

Nobody knows exactly what will happen with the real estate market in Philadelphia, but many experts are predicting a recession. This can actually have benefits in real estate investing if you position yourself correctly. Continue to educate yourself about the real estate market in Philadelphia. For example, if housing prices start to decrease, you may be able to buy at a lower and sell for a higher amount at a later date. And if you want to sell your Philadelphia house, now may be the time to list before the market turns down. At SellPAHomeFast, we will buy your property outright, saving you from the uncertainty of market fluctuations that will likely affect the value of your home. Typically our offers cover all the closing costs, and we never have any fees, or surprises. Just a simple and straightforward transaction that can help homeowners sell their houses fast in Philadelphia

5 Facts Sellers Need To Know About Philadelphia Real Estate

If you are ready to sell your home in Philadelphia, you’ll want to look at all of the selling options available to you. To determine what will work best, the following information will help you sell your house fast.

  • How long are houses staying on the market in your neighborhood?
  • Are home sellers in Philadelphia getting their asking price or are they having to lower their prices in order to get a sale?
  • What will it cost to successfully list your home on the Philadelphia MLS after you have made repairs and fixed up the property?
  • Have you factored in the agent commissions and closing costs sellers face when selling in the traditional manner?
  • Do you have the time and money to make repairs and updates, or would you be better off selling your house right away?

If you are trying to sell your house in Philadelphia sooner rather than later, hiring an agent and selling in the traditional manner may not be the right choice for you. For people who want to sell without any costs or waiting, working with a direct buyer will likely prove to be the best selling option. Run the numbers for your property and ask yourself the questions listed above.

What You Can Do If You Are Ready To Buy

While some sellers are reluctant to put their house on the market given the current state of the market, there are still incredible deals to be found. At SellPAHomeFast, we can help you find the perfect property whether you are looking to invest or find a home of your own. Our ability to help sellers close quickly and without any additional fees allows us to acquire properties at lower prices than other buyers. We, in turn, pass these deals on to those who are ready to buy.

We work with buyers and sellers, eliminating the costs of marketing, commissions, and other miscellaneous fees that drive up prices. By eliminating the middleman and buying and selling directly, everyone involved in the transaction comes out a winner!

Do you want to learn more about the current real estate market in Philadelphia? Reach out to us today to get the information you need! Call today! (484)713-4009

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