The price of your home is not what you bough it for, it is what the buyer will pay for it. Today a lot of sellers still believe that the high flying prices of homes is still a thing but that is much more than wrong. Because of this we are seeing home sellers listing homes for their early 2022 late 2021 prices. "A buyer earning the median U.S. household income and making a 20-percent down payment could afford a home costing $339,000 last week, according to Realtor.com. In January, the same buyer making the same down payment could have afforded a house priced at $449,000, Realtor.com calculated." (Trends Journal, Gerald Celente). Because of this homes are sitting on the market more than 20% longer than what it was a year ago. There are 39% fewer people applying for mortgages than a year ago today, meaning there are a lot less people trying to even purchase a home.
These sellers need to come to a harsh realization that their home is not worth what it was a year ago. Because everything is more expensive. From insurance, taxes, and the cost to borrow money (interest on a loan) being so high, its causing the cost to buy a home to become to expensive. So what does this mean for a seller?
If you are wanting to sell your home you have three options. 1. You find a buyer who has no problem with paying high costs and is fixated on purchasing your home as the only option. (highly unlikely). 2. You can lower the asking price of your home and meet the markets price range to have the ability to buy a home. 3. Find an investor who can offer you terms to be able to meet your higher than reality offer price.
Terms is a simple way of saying that you will become the bank and there will be no bank involved. So no having to apply for a loan, no cost of borrowing money and not having to get appraisals. Making it much easier for me to pay your high price. We would pay you a certain amount of money each month depending on the purchase price and the length of our terms. This is a great way to earn mail box money while also not having to go through the burden of listing a home on the market.
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