Selling your house in a flooded market can feel challenging. When an abundance of properties are listed, it
can be difficult to stand out among the crowd. Everyone is trying to sell right now and cash in on the gains made in equity due to rising home prices and low-interest rates on their next home. Additionally, as the rise in unemployment steadily increases and
mortgage forbearance comes to an end, more housing will be coming online. Eventually, this will lead to a correction in housing values as supply begins to outpace demand. Read on to learn these five ways to sell your Mercer County house in a flooded market.
Staging a home allows buyers to easily envision themselves living in the property. This is achieved by using neutral tones and eliminating personal belongings and clutter. Hiring a professional for the best possible presentation is one way to sell your Mercer
County house in a flooded market. For added measure, some homeowners are following the ancient Chinese philosophy of Feng Shui. By following specific rules regarding the placement of items in the home, the energy flow in the home, or the chi, is said to be
Offering perspective buyers the added bonus of owner financing is a creative way to sell your Mercer County house in a flooded market. This usually involves a large down payment and a contract with a specified period, usually shorter than conventional loans.
Typically the purchase price of the home can be set above the current market value, because the price is being set at the agreed-upon price now, for a purchase in the future. This type of financing usually carries a higher interest rate as well. Should the
buyer default, the seller will keep all the monies collected to date, because you retain full ownership of the property until the completion of the contract.
Using advanced marketing techniques is another way to sell your Mercer County house in a flooded market. Because so many homeowners now advertise on the internet, you’ll need to ensure that you take advantage of the top-rated sites and pay for more exposure,
skipping the flooded sites that list homes without charge. Additionally, to compete, invest in professional photography for an outstanding image gallery, as well as providing 360-degree virtual tours filmed by professional drone pilots.
While networking can take time, it’s a great way to sell your Mercer County house in a flooded market. You’ll
want to be certain to make connections with buyers through professionals in the real estate industry. By surrounding yourself with a great team, you can instantly increase your contacts. There are also very active investment clubs with both virtual and in
person meetings scheduled regularly. You might also want to consider attending conventions and social media meetings to build your network as well.
Wary of the possibility of your house lingering on the market? Whether you list your home on your own or sell with a real estate agent, there is no guarantee of if or when your house will ever close. With so many properties listed, the quickest and easiest
way to sell your Mercer County house in a flooded market is to sell directly to The Cardwell Thaxton Group. Why lose time waiting for a closing that never happens because your buyer’s financing falls through, while you
continue pouring more money into your property? Do you dread the headaches and hassles of the showing process? If you are finding yourself facing time restrictions, don’t want to invest even more into your property, or just want to simplify the process of
selling your Mercer County house, contact us at (908) 456-1593 today!
We research the details of your home and start crafting a great offer for you.
We present you with a fair cash offer with no obligation and no fees.
Get the cash you need now. You do NOT have to wait 6 – 12 months to get your house sold.
Do you have a downsizing plan for your house in Mercer County? Lifestyles change and along with them, the requirements you have for a
home change as well. In addition to finding your new smaller home and the hassles of listing and selling your current larger home, the task of downsizing can seem overwhelming. Going through a lifetime of memories and belongings can be emotionally stressful
as well. We have broken it down into easy to manage steps to help make the process easier for you! Read on to learn more about our four-step downsizing plan for Mercer County homeowners
The first step in our downsizing plan for Mercer County homeowners is to sort your belongings, keeping in mind the limits on space in a smaller home. You can begin by sorting items such as clothing and kitchen or household supplies by the amount of time that
has passed since last used, a common timeframe for this process is to eliminate items that have not been used within one year. As to decorative elements and furniture, rather than keeping items based on the market value, decide what you will be taking with
you by what each piece means to you personally.
Moving forward to the second step of our downsizing plan for Mercer County homeowners is to sell any valuable items you are ready to discard. The internet provides avenues to sell larger pieces like furniture locally, through sites listing items for sale, local
rentals, and jobs, which are heavily trafficked. For more special items, there are sites that specialize in nearly any type of collectible. Additionally, there are sites where specialized items are gathered under one domain, with several categories of listings.
Be certain to provide plenty of images of each item.
For many, giving their items to charity is preferred as a method of clearing all of their items, donating these goods is the third step in our downsizing
plan for Mercer County homeowners. Likewise, many people choose to donate those items that are still in good condition but either didn’t sell or do not carry enough value to advertise. Often, charitable organizations will come to your home and pick up
the items you are donating, making the process easier for donors. Depending on the value of your donation, you may want to consider consulting your tax advisor in order to take any deductions for which you may be eligible.
For those belongings not quite up to par to sell or donate, it is time to decide if they are ready to become trash or recycling material. You may be able to recycle clothing and other textiles as well as electronics. Remember, there are rules governing how
much trash can be placed out for pickup as well as how it must be bundled. Depending on how much you are clearing out, you may have hire help to assist you. You may also need to pay to have a larger trash dumpster delivered and picked up after you have filled
The best downsizing plan for Mercer County homeowners is to sell directly to The Cardwell Thaxton Group. Just pack what you want to keep and leave the rest to us. We make the process easy, walking you through every step. The
Cardwell Thaxton Group uses simple and straightforward contracts and we close quickly, usually in 30 days or less. Working with The Cardwell Thaxton Group also means none of the headaches of getting ready to list
your home. You won’t even have to worry about painting, repairs, cleaning constantly for showings, and constant interruptions. The Cardwell Thaxton Group will buy your home just as it is and will even handle clearing out
your unwanted items for you! To learn more, send us a message or call The Cardwell Thaxton Group today! (908)
Do you need to sell a house while buying another one? Finally ready to move but need to sell your existing home first? By listing
your home on the traditional market, either with a real estate agent or on your own, the chances are likely that your dream home could fall through your fingers because you are not able to sell your current home. Looking for the easiest way to sell a house
while buying another one in Mercer County? Find out how selling directly to The Cardwell Thaxton Group could be the solution to your problems.
With a traditional listing, there simply is no way to guarantee when or even if your home will ever sell. Regrettably, the longer a house lingers on the market, the more likely buyers are to pass it by in their initial search of listings, assuming that there
must be something wrong with a property that sits for 30 days or longer which hasn’t been revealed in the information available. As more time passes, not only will you be forced to drop your asking price in hopes of getting an offer, you will absorb the cost
of holding onto your current home, but your chance to purchase the new home you wanted may be slipping away. Because The Cardwell Thaxton Group offers a guaranteed closing date, working with us is the easiest way to sell
a house while buying another one in Mercer County.
Often delays in moving forward with buying another home before you sell your existing real estate is because contracts fall through because the buyer is unable to qualify for financing. Because selling directly to The Cardwell
Thaxton Group means being paid in cash, the closing is guaranteed. This is another benefit of selling directly that makes working with The Cardwell Thaxton Group the easiest way to sell a house while buying another
one in Mercer County.
Selling to a direct buyer like The Cardwell Thaxton Group usually involves purchasing the property as-is, or just exactly as it sits. While it is possible you will realize a little less for your home, we offer a fair price.
If your home isn’t brand new, avoiding the costs of renovations, updates and repairs could end up saving you thousands of dollars in expenses. You could also be facing weeks or even months of delays as the repairs take place. Avoiding these costs and headaches
also make selling directly to The Cardwell Thaxton Group the easiest way to sell a house while
buying another one in Mercer County.
Should you find a buyer, if there are any delays with moving into your new home, with traditional listings, your buyers will have already made plans to move in. Contingencies for this reality are likely built into your sales contract. At this point they are
likely to demand you make other arrangements, surprises with your new home closing can be both inconvenient and expensive. Especially if you are forced to find temporary housing in a hurry. Because The Cardwell Thaxton Group isn’t
worried about moving into the property, the closing date can be very flexible. The Cardwell Thaxton Group is happy to work with you on your timeline. This is another reason that selling directly to The
Cardwell Thaxton Group is easiest way to sell a house while buying another one in Mercer County.
The easiest way to sell a house while buying another one in Mercer County is to sell directly – listing has too many unknowns. If you are ready to save time, avoid repairs, skip the cleaning, forget about showings, paying high commissions and fees, The
Cardwell Thaxton Group is here to help. These are just a few of the reasons selling directly to The Cardwell Thaxton Group is the easiest way to sell when you are ready to buy your next home. To learn more, send
us a message or call The Cardwell Thaxton Group today! (908) 456-1593.
No matter why you’re considering selling to an iBuyer, the conveniences that iBuyers may seem to offer may be far outweighed by the negatives lurking below the surface. iBuyers work on a large scale basis and sellers often find that questions and concerns
go unanswered because the company just doesn’t care. Professional buyers are a part of the community and dedicated to helping the people of Mercer County. Professional buyers like The Cardwell Thaxton Group take the time
to listen because our focus is helping individuals, Here are the five reasons why it is better to work with a professional home buyer in Mercer County vs. an iBuyer.
iBuyers aren’t local, being unfamiliar with Mercer County means they don’t offer as much as professional buyers will for your home. iBuyers method of buying appears to offer a streamlined and rapid sale yet many of the fees you’re responsible for are well hidden,
such as paying closing costs. iBuyer’s hidden fees and high commissions can all eat away at your bottom line.
Professional buyers like Mercer County offer fair prices, taking the time to fully explain our process. Professional buyers like The Cardwell Thaxton Group don’t charge sellers other costs to sell your home. Because the
offer when you sign the sales agreement will be the actual amount you’ll receive at closing, it is more beneficial to work with a professional home buyer in Mercer County vs. an iBuyer. The Cardwell Thaxton Group helps
sellers meet their specific needs, with both their immediate and future goals as our top priority.
iBuyers may add a contingency making the seller responsible for any repairs they deem necessary. Often iBuyers require sellers to accept the offer prior to revealing the costs that could be involved which often lowers the actual offer significantly. iBuyers
devised this system to avoid taking on the costs of these repairs, lacking any concern over how you’ll come up with these extra funds before closing.
Professional buyers like The Cardwell Thaxton Group will purchase the house as-is, making it preferable to work with a professional home buyer in Mercer County vs. an iBuyer. With our experience we understand all the risks
involved in buying a home as is, we also understand the relief this can offer to an already strained homeowner. With no repairs needed, you can avoid paying for expensive repairs before you ever realize a penny of profit.
iBuyers motivation is profit, they’re removed from any sense of responsibility for the problems you may face or how much time passes, they can just move on to the next unwitting seller. While initially dangling the carrot of extremely quick closings, it is
quite possible the very contract sellers sign is laced with contingencies, requiring repairs which the iBuyer is fully aware will lead to delays in closing. For those forced to relocate prior to closing, holding two properties means double the bills, in addition
to covering the repair bills, until the terms of your contract are satisfied.
Professional home buyers usually close within 30 days or less. Depending on the circumstances under which you’ve decided to sell your property, your resources may be dwindling fast. At The Cardwell Thaxton Group, our quick
process means you can leave all of your worries behind, making it better to work with a professional home buyer in Mercer County vs. an iBuyer.
You’ll thank yourself in the long run for taking the time to understand the huge difference between iBuyers and professional buyers like The Cardwell Thaxton Group. Our goal at The Cardwell
Thaxton Group is to help you solve your problems, which is the best reason to work with a professional home buyer in Mercer County vs. an iBuyer. Find out for yourself by sending us a message or calling The Cardwell Thaxton
Group at (908) 456-1593 today!
Starter homes are just that, an excellent place for new homeowners to get a start. These are usually smaller, more affordable homes and may require renovation. Wise real estate investors know that homeownership includes selling and buying multiple homes in
a lifetime. Some common triggers usually set the chain of events into motion that propels an informed maneuver. These triggers may be personal circumstances changing or economic growth bringing on the next phase in homeownership, your first move upward! Regrettably,
many people fear making the wrong move and continue to live out their lives in less than ultimate conditions. Five signs you need to upgrade
your house in Mercer County.
Understanding your starter home’s living conditions aren’t forever can make it more bearable to live with the inherent inconveniences of close living quarters and a general lack of storage, to name a few. However, if your first home has become too small for
your ever-growing family, this is a significant sign you need to upgrade your house in Mercer County. Due to the ever-growing numbers of people working from home, the need for additional space to create a home office is crowding families into fewer bedrooms.
Squeezing everything into your starter home can be not only uncomfortable but also extremely stressful on interpersonal relationships. Moving into a home that better conforms to your family provides the opportunity to improve day to day living in our ever-changing
Understanding the value of real estate’s location is imperative to achieving the best possible fair market value at any given time. After all, the ultimate goal for your investment dollar is earning the highest possible return. By investigating and buying your
starter home in the best area possible within your budget, the payoff can be substantial, depending on shifts in the real estate market. The demand for more permanent housing has gone up rapidly, which may mean your home’s value has risen drastically faster
than anticipated. This gain in home equity signifies that it’s a great time to upgrade
your house in Mercer County. Opportunity doesn’t always knock twice, so why not strike while the iron is hot and sell your starter home, using the equity you’ve patiently built over the years to buy a bigger and better house.
Have you noticed the low mortgage interest rates and started to compare the loans being offered by different lenders right now? Or maybe you have been checking the MLS for recent home sales near your property, searching for comparable prices. Because avid real
estate investors are always looking towards the future, their second nature leads them to begin undertaking the research and other tasks that lead to success. If you catch yourself following this train of thought, it’s a sure sign you’re ready to upgrade your
house in Mercer County. Remember, he who hesitates is lost. The time to move on these fantastic rates is now.
Many homeowners, attempting to avoid the hassle of selling and moving, make significant repairs or upgrades to make the home more livable. Perhaps you continue to imagine how you would knock out walls or add rooms for your starter home to better conform to
the new demands you have from home. These are signs you need to upgrade your house in Mercer County. You can leave your starter home behind for a new owner to begin their homeownership journey. At the same time, you can move onward and upward into a more contemporary
home that already has the amenities you seek.
While you may not have been in the market for a new home, happening upon your dream home and learning that it is available can be quite exciting. Maybe you simply find your thoughts returning again and again to the perfect house, which is not your starter home
any longer. Should you find yourself unable to think about anything else, this is a definite sign you need to upgrade your house in Mercer County. If your income has increased significantly since initially purchasing your starter home, making the upgrade makes
even more sense.
Are you experiencing any of these signs telling you to upgrade your house in Mercer County? Maybe you just aren’t sure! We understand completely! Our experts are always paying attention to the real estate market and know how they will affect you personally.
At The Cardwell Thaxton Group, we are happy to listen to your unique circumstances and help you decide if the time is right for you and your family! The Cardwell Thaxton Group will buy
your starter home as-is, with fast closings that save you time and money! The Cardwell Thaxton Group will help you locate the perfect upgrade! Let The Cardwell Thaxton Group help you
feel confident you’re upgrading to the best deal on a new home in Mercer County. Give us a call today at (908) 456-1593!
Are you planning on selling your Hamilton Mercer County? Before you commit to an agent or try to sell it on your own, learn about the new
way to sell your home in Mercer County!
For most people, the thought of selling their Mercer County house will likely involve the MLS and the help of a local agent. Before you decide to sell this way, take a look at the numbers to make sure it makes sense for you. There are many ways for you to sell
your home, and each of these will have a different impact on you both financially and mentally!
Selling your house to a direct buyer instead of listing with an agent! You will not only save money on marketing, listing, repairs and closing costs, but you won’t have to wait to receive your money! Imagine being able to sell your Mercer County house without
the stress and hassle of a traditional listing!
No Commissions – Because you are selling to a direct buyer and not through an agent, you will be able to keep any money that would have otherwise gone to commissions.
This usually runs about 6% of the final sale price.
No Marketing Costs – You will not have to pay a dime to advertise your house online or in print. There are no photography costs or fees of any sort to worry about.
No Staging Costs – Many time, people will use professional home stagers to help showcase their property. Even if you only do this in a few rooms, the fees can add up.
No Time or Money Spent Cleaning – A big part of listing your Mercer County house is keeping it clean. People will come by for last minute showings, and your house
needs to be kept tidy for these short-notice guests. When people view your home, they don’t want to see personal belongings or clutter. Keeping everything put away and leaving at the drop of a hat can be stressful to home sellers. When you sell to us, there
is no cleaning required. Simply take the belongings you wish to keep and we will handle the rest!
No Repairs Required – When you sell directly to The Cardwell Thaxton Group, you will never have to spend a dime making repairs or upgrades. Listing
your Mercer County house will often require you fix up the home both before and after the inspection has been completed. We will buy your house as-is, repairs and all.
No Landscaping – Just like maintaining the inside of a home, the outside needs to be maintained too. When you are trying to sell, this is even more important. You
will want to keep the lawn mowed, weed pulled and clutter out of the yard. Curb appeal is extremely important when selling a home. You will either need to spend time doing this yourself or hire someone to do it for you.
End Maintenance Costs Immediately – If you own a property, it will inevitably cost you money in maintenance costs each month. From a faulty shelf to new A/C filters,
the things you might see as small expenses can add up quickly. Ending these costs now instead of later can help you keep more cash in your pocket.
No More Monthly Costs – The cost of your monthly utilities, homeowners insurance, and property taxes can add up fast. When you list your home, you will have to continue
paying these bills for an indefinite amount of time. Even if you are not living in the home, water and electricity will need to be kept on for people who view the home.
Get Paid Right Away – When you sell to a direct buyer such as The Cardwell
Thaxton Group, you will know exactly what you are getting and on what day. There are no lenders or red-tape. We are able to pay you in days, not weeks or months. By selling directly, you will not have to live in limbo. You will be able to move on
with your life quickly and easily.
Peace of Mind – With a traditional sale you will have to question how much you will be offered and when. If you do get an offer you accept, it can still fall out at the last minute,
especially if your buyer is using traditional bank financing. When you sell to us, we have the funds available to pay you right away! You don’t have to worry about waiting or the sale falling through!
The benefits of selling directly are numerous! For many people, it is the simple, stress-free way of selling they have been looking for! We encourage you to run the numbers to find out if it makes sense for you!
Are you holding on to a property in Mercer County and you aren’t exactly sure why? Every day that you continue to own the property, you are spending money on it. Before you hold on to it for another day, consider the below points. It might be time to think
about selling your Mercer County home! How much does holding a property cost in Mercer County? Keep reading to find out!
Ask any property flipper and they will tell you this: the faster you make the flip, the more money you will make. Plain and simple, owning real estate costs money. And if you are holding on to the property for sentimental reasons or because you “might” use
it one day, you are only throwing your money away. The property you own should be working for you NOW. It can be your primary residence, providing a monthly income, or be used for recreational purposes. If your Mercer County
house isn’t doing one these things, it might be time you consider selling it! Take time to know the costs of holding a property in Mercer County.
Property taxes can be high With recent changes to the tax code, they are no longer deductible either. As long as you are listed as the owner of the home, you will be responsible for the taxes on it. By selling your house in a timely manner, you can immediately
end your tax obligation for the home.
Monthly utilities add up quickly. If you were to add up the amount you’ve spent on electricity, water, gas, tv, and internet you might be surprised at how high that number is. Even if you aren’t residing in the home while selling it, you will still need to
keep the lights and the water on for the people who come to see your house. If your house is older and less energy efficient, you are likely to have utility bills significantly higher than what you would find in a new home.
A good rule of thumb for maintenance costs is the one percent rule. This rule states that you should plan to spend about one percent of your purchase price on maintenance each year. For example, if your house was purchased for $250,000, you should plan to spend
about $2,500 on home maintenance each year. Of course, these numbers can vary widely, but many investors use this formula to estimate costs.
The premium for a homeowners insurance policy will vary based on the house and its location. You can expect to pay over $1000 annually for an average Mercer County home.
It can be difficult to come up with a mortgage payment each and every month for a property you don’t want to own. The average mortgage payment nationwide is well over $1000 each month. Some people are struggling to pay thousands of dollars each month when in
reality they would be much better off selling the property.
What else could you be doing with the money you have tied up in the house? You could very well be missing out on a better home or investment opportunity. Look around at what else is out there and decide if you are truly happy with your current situation. If
your property isn’t doing anything for you, it might be time to find something new!
Knowing the costs of holding a property in Mercer County, selling your home now as opposed to later can help you keep more money in your pocket. For every day you continue to own it, you will also continue having to be financially responsible
for it. The bills and maintenance costs add up quickly. Run the numbers for yourself and make the decision that makes the most sense for you!
Maybe you’ve been on the fence about selling your house. You are wondering if it’s the right time. We have put together a few questions to ask yourself to help you determine if it’s the
right time to sell your Mercer County home!
Your house should be doing one of these things:
If your home is vacant or costing you in repairs or tenant turnover, it might be time to consider selling it!
In the world of investing, they call this “Opportunity Cost.” What property are you potentially missing out on because your money is tied up in a different one? Take a look at what’s out there. Is there a better place you could be investing your money?
People buy their homes for what they need at the present moment. If you have a house full of kids, you might require a 5 bedroom home. However, down the road, you might not need so much space. Keeping up with a home that is too large can be stressful! You don’t
need to live in a house that it too high-maintenance.
On the flip side, people often grow out of there space. As families grow and acquire more things, they often require more space. Imagine what having a little extra space could mean for you and your family!
There is no rule that states you need to stay in the same home forever. The beauty of real estate is that you can move at any time you want. Think about your future, a few years down the road. Can you picture yourself in the same place, or do you see yourself
Maybe the house is old and is in need of repairs you simply don’t want to make. Making repairs on a house you don’t really want can not only be expensive, but stressful and burdensome too. You can choose to work with a reputable direct buyer such as The
Cardwell Thaxton Group, who will buy your Mercer County house as-is. We will take care of everything, including the property’s repairs.
If you are able to sell your house, pay off your mortgage, and have some left over to put down on a new house, selling might be right for you! If you are able to get at least 20% down for your new home, even better! If you would like to know more about the
current value of your home, call us for a CMA (comparative market analysis) on your property! (908) 456-1593.
How much are you spending each and every month to own the house? The costs of home ownership go well beyond a mortgage payment. You will need to consider other ways you are spending money on the house such as taxes, insurance, and maintenance.
If you have been thinking about selling, it likely means that it is the right time to sell! There isn’t one answer that is right for
everyone! Consider your options and make the decision that works best for you! Our team is ready to help answer any questions you may have!
For many people, the thought of selling their home can seem like a lot of work accompanied by a long list of expenses. It might seem even more overwhelming if the property is in disarray or needs repair. However, it doesn’t have to be that way! In our latest
post, we will explore the ways you can sell your house in Mercer County without any hassle whatsoever!
When selling a house in Mercer County, most people immediately think about hiring an agent and listing the property on the MLS. This is a great solution for many people, however, you should know there are other options available to you. There are many ways
to sell a Mercer County house! Consider your options to discover which selling method is right for you and your situation!
You can sell your house without using an agent, ultimately saving a ton of time and money depending on the situation.
There are companies such as The Cardwell Thaxton Group that will buy your Mercer County house using a straight-forward and simple process. With a direct sale, you won’t have to worry about commission, repairs, cleaning-up or waiting for a buyer to come along.
You will immediately know the amount you are receiving as well as the closing date so you aren’t left in limbo, wondering when your house will sell.
Direct sales are becoming increasingly popular, however, not all buyers are the same. Make sure you do your homework on both the local market and the buyer you are working with. A direct sale may not offer full price, but for some people, the amount saved on
repairs and wasted time more than makes up for the difference in price.
Of course, listing your Mercer County house is an option. Take the time to learn about everything that is involved and what will be expected of you. No two agents work exactly the same and there are no guarantees. Your property can be listed for any price,
but there is no guarantee you will receive it. Watch out for agents who try to “wow” you with a high listing price. If it’s priced too high, it will likely sit on the market, possibly for months at a time. You will inevitably have to lower the price, while
your property drops down the list of homes available on the MLS. If you decide to list, make sure your agent prices your home to sell. Not just setting a high price to convince you to sign a listing agreement.
This can work for some people who don’t need the cash from the home immediately. You can elect to carry the note setting up a “rent-to-own” structure. Your tenant will “rent” the property at a higher than average price, with some of the money going toward a
down payment on the home. They will then have the option to buy the property outright at the end of a certain period of time, typically around 2 years.
If selling simply isn’t in the cards and you need to move, there are other options. You can rent the house out as either a short or long term rental. The trouble with this can be finding great tenants and retaining them for as long as possible. Renters can
be quite nomadic, and tenant turnover can cost you dearly. If you haven’t done this in the past, consider hiring a property manager to help you keep everything in order.
What Mercer County Home Sellers Should Know About the Current Real Estate Market? There are many stages in life where the mindset of temporary housing or a rental phase makes sense. However, home sellers should know that while it would have previously been
the norm, these people are now more focused on finding permanent housing situations and increasing the number of buyers competing for homes in the real estate market Mercer County. Part of this drive may be due to many company’s business models rolling over
into home-based work. Another phenomenon that has come to light, more wealthy investors are updating their investment plans to move with the market, making their second home purchases for retirement earlier than previously planned, increasing the shortage
of available properties on the market.
Like a wave still rolling from the 2008 national trend of slowing new housing production, the backlog of completed units has yet to be met, let alone the surge in demand that has emerged since the pandemic. Low-interest rates are also pushing buyers into the
market that may not have otherwise been able to afford as much housing. There is also a migration of buyers from high-tax states brought on by changes in federal tax guidelines, which means they can no longer write off their property taxes.
The National Association of Realtors reported in October of 2020 that there were fewer homes for sale now than ever. If no other homes were listed on the market starting now, there is just over a two-month supply of inventory available. There has also been
a stall in the number of homes listed by sellers that would typically be making an upward move in housing, such as moving up from a starter home. Many homeowners choose to stay in place to see how they are involved and settle out before risking what they have
in place. These factors have combined to create an epic seller’s market, with the surge in demand and shortage of housing units available, causing prices to soar. Read on to discover what Mercer
County home sellers should know about the real estate market in Mercer County.
While a seller’s market may sound like a perfect scenario, Mercer County home sellers should know that bidding wars affect the real estate market in Mercer County. The problem comes when buyers bid above the amount the home will appraise while remaining below
the typical 80 percent of the loan to value the mortgage. There is a potential to lose your buyers, should they find themselves in a bidding war. They may not have the finances to afford the higher monthly payments and a higher principle, let alone the additional
cost of mortgage insurance. And may not have enough cash on hand to cover any shortage between the appraisal and the final purchase price.
All good things come to an end. Housing prices had already begun to trend upward before the pandemic and continue to rise. Under the current conditions, most first-time homebuyers facing the rapid jump in listing prices cannot afford the average home. Mercer
County home sellers should be acutely aware that the current rising price trend on the real estate market in Mercer County cannot continue indefinitely, and the real estate market may crash. Indicators are that foreclosures, which are on hold now, will rise
among lower-income households. Around 2.75 million mortgages are in forbearance under the CARES act’s protection at this time, with approximately 10 percent of all FHA-backed mortgages more than three months behind on payments.
Avoiding selling for too long may mean that sellers miss out on this rare opportunity to strike while the market is at or near its peak. When it comes to traditional listings, a significant number of people simply do not want to take the risks of meeting with
strangers to negotiate or do business. Many would prefer not to have showings during the pandemic because of potentially ill buyers walking through their homes. With stress already at an all-time high for many, the mere thought of the additional pressures
of selling a home, especially when school and work are home-based, is too much to consider. Mercer
County home sellers should know that there is another way to sell their home on the real estate market in Mercer County, by selling to a direct buyer like The Cardwell Thaxton Group.
Ready to learn more about what Mercer County home sellers should know about the real estate market in Mercer County? At The Cardwell Thaxton Group, we are here to listen and help you handle all of your problems. With fair
prices, straightforward easy to understand contracts, and quick closings. Working with The Cardwell Thaxton Group means there’s no need to delay selling any longer! [The Cardwell Thaxton Group will
walk you step by step through the process and help you determine what is best for you! Contact us now at The Cardwell Thaxton Group at (908) 456-1593 today!