With many economists and experts predicted a recession soon, many home sellers are wondering if now is the time to sell their home. It can be intimidating to think about, but many economic signals indicate that it could be a serious possibility in the next year to year and a half. If you’re on the fence about selling your home, here are a few factors to take into consideration.
What type of home do you own?
A recent study by the real estate brokerage group Redfin recently conducted a study to determine which homes were most likely to lose value in a recession. The conclusion was that condos and townhomes lose the most value overall, while single-family and two-story homes generally kept the most value. If you have a condo or townhome, your best financial option may be to sell quickly, before a recession torpedoes the value of your home.
What’s your current financial situation like?
If you’re strapped for cash or need to sell your home fast, a cash sale may be the best decision for you. In a recession, the housing market becomes what is known as a buyer’s market. This simply means that buyers have more sway in home buying negotiations since fewer people will be looking to buy a home. In this scenario, getting the value you want for your home will be even more difficult, and you may have to take significantly less money in order to land a sale.
What are your future plans?
People sell homes for a number of reasons. It may be their livelihood, or it could be a home they inherited from a loved one. A new job opportunity can also mean it’s time to sell, so it’s best to closely evaluate your situation before a big decision. If you anticipate a big move in your future, then a quick cash sale may best set you up for success.
El Paso’s Best Cash Buyers
El Paso’s real estate market continues to grow in size and value, and El Paso Cash Home Buyers expands with it. If you’re looking for the most cash return for your home, contact us to have money in your hand in as little as seven days!
We hear the same question all the time, “How can I sell my home fast for cash?” While the answer may feel impossible for most El Paso homeowners, it really isn’t. Selling a home quickly and getting a cash payment is actually not as hard as it seems. It really isn’t to good to be true in this case. Many people come to us looking for a quick sale for many different reason. On top of that, they fear the worst because their house is not in perfect shape. However, when our clients want to know, “How can I sell my home fast for cash,” we simply tell them the truth. 
Needing to sell your home quickly can be difficult in El Paso. Besides listing a home for sale, you also have to go through a waiting period, then possibly negotiate prices. All of this has be done before the home can be transferred, and then you have to worry about closing costs. All told, selling a home can sometime take up to a year or more. You can avoid having to wait so long when you go through a home buying company. 
When you find yourself in a bad situation you may be wondering, how do I sell my home fast? You don’t have the time to put your house on the market and wait several months for it to sell. Even more, you don’t have the time, energy or funds to stage your house, make repairs or look for a good realtor. When you are out of time and funds to sell your home turning to an investor is the best option. Take a look at these frequently asked questions about working with an investor.