Is It the right time to sell your Florida house?
If you want to make as much money as possible, the answer is YES.
Peak market prices and increasing mortgage rates say home values are bound to drop.
Even if you live out of state, have back taxes and liens, or an old property needing repairs, it’s the perfect time to sell Florida property.
Florida Market Prices At Their Peak
Warren Buffet said “Sell high, buy low. It really doesn’t get any simpler than that.” Isaac Newton proved “what goes up, must come down.” This is great economic advice and exactly where we are with Florida home values.
Florida housing prices have skyrocketed since 2011. Values rose 86% from $220,000 to $411,000. By comparison, U.S. prices only rose $100,000 to $125,000 – a 25% increase.
What are you waiting for to sell? The housing market to crash . . . AGAIN. Prices were this high in 2006. Homeowners need to remember history: the bubble popped in 2007 with the mortgage crisis (watch The Big Short if you forgot). Homeowners lost thousands if not hundreds of thousands. Retirements shattered. Nobody could sell. Loose mortgages meant buyers could not afford monthly payments and could not sell underwater houses. Foreclosure was the norm.
Higher Mortgage Rates: Less Buyers, Sinking Prices
A scary thought is loose mortgage policy has been common the last 10 years: rates have been at record lows around 3% (to draw more buyers to re-grow the housing market).
Experts have predicted we are heading towards another crash. “Looking at the economic situation today, we find many of the same indicators. Housing prices are very high” and the Fed has been “plunging interest rate policy in order to re-inflate a bubble.” Re-inflate the bubble?
Mortgage rates have been so low buyers flooded the market, driving prices to unreasonable level. The Fed wisely increased mortgages rates in the last year to cool the overheated market: (Fed rate hike: What it means for mortgage rates). This may curb a collapse, but expensive mortgages result in less buyers and less buyers mean sinking prices.
Repairs, Back Taxes, Live Far Away, Problem Tenant: You Can Still Sell Today
Want to sell your house for any of these reasons? It’s still a great time to sell. You just need a different strategy because “conventional mortgage” buyers are not an option.
Houses in poor condition don’t qualify for mortgages. The Federal Housing Administration won’t issue a mortgage unless the home “protects the health and safety of the occupants” with no “physical deficiencies”. VA mortgages are only possible if “the home is safe, sanitary, and structurally sound.” Anyone relying on a mortgage can’t buy your fixer-upper.
With back taxes, repairs, and bad tenants homeowners need to sell fast. You could lose your house from unpaid taxes, unrepaired houses cause fines and legal risk, problem tenants result in monthly losses. Mortgages are slow (60+ days for approval) and are often denied due to job loss, low appraisal, cold feet.
What can you do if mortgage buyers can’t purchase your house fast? There is a solution.
Step in a professional cash home buyer like House Heroes (that’s us!). Cash reserves mean we don’t need mortgages. We buy any house, in any condition or situation, in any price range. Get your fair cash offer by giving us a ring at (954) 676-1846 or filling in this form.
We are Florida’s number one cash home buyer. I hate to “toot our own horn” (well, not really) but we are the best because:
- Real Cash Reserves. Ask for our proof of funds bank statement.
- Better Business Bureau Accredited. Have “peace of mind” working with us.
- Video Home Seller Testimonials. Our clients gladly do video testimonials.
- We buy ANY HOUSE. This video is the ugliest Florida house we bought!
You are in good hands with House Heroes. Ms. Lisa Rauch said: “House Heroes was honest and fair in their treatment of me. Your company helped so greatly, so quickly, and treated me as more than just a dollar sign.” Watch her testimonial:
Thinking about selling a home fast in Florida? Give us a call (954) 676-1846 or fill out the form below!
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