How Can Different Seasons Affect the Homeselling Process? 

Beautiful House With Sold Stamp Overlay

The key to selling your home and, ultimately, selling your home the way you planned, is timing. In fact, the housing market is studied for its changes and how these changes look over a span of months and even years. If you have been thinking about selling your home, you have to be wise about when you plan on putting it up on the market. Each season of the year offers different advantages and disadvantages. With that being said, it is up to you to decide which time of the year works best for you and your home. Our experts at El Paso Cash Home Buyers know the real estate market like the back of our hands. To better help you prepare, we discuss how the different seasons impact home selling. 

Winter Months: December to February 

Many home sellers ponder on the idea of selling during the colder months. There is often less competition, which can be advantageous, but this is usually due to the fact that there are not very many people looking to buy, so it can be a bit difficult to get your home off your hands during the winter. Not to mention that buyers want to be able to close a deal on a home before the end of the year in order to earn potential tax breaks, so you might want to consider posting your home even a bit earlier before the winter. 

Spring Months: March to May

The springtime is often considered the best time to sell a house, no matter where you live. In fact, studies show that the first two weeks of May tend to be the busiest for home sellers. The spring is the easiest time for people to buy, so the demand is high. As such, it might be challenging for you, as a home seller, considering you’ll be up against many others who will be selling their homes as well. Considering there is more demand, buyers may be willing to offer a higher bid to make sure they can close the deal on your home. 

Summer Months: June to August 

The summer is also considered a popular time for home selling, but considering the weather, many buyers may not be willing to be driven to look at homes in the heat. Higher temperatures call for higher air conditioning costs and yard maintenance, which is something both you, as a home seller, and the buyer will have to consider. The good news is that families may feel the urge to find a home quickly when their kids are on break from school. For the summer, the pros definitely outweigh the cons. 

Fall Months: September to November 

The fall may sound like the perfect season to dress up and sell your home, but don’t be fooled, this is one of those times of the year where it can easily make or break curb appeal. One buyer might be swayed by the beauty of fall foliage, including trees and vegetation, whereas another buyer may not be too convinced about the idea of having to maintain a yard. The fall is a busy time for younger buyers, so if you are planning on selling during the fall, this is the target audience to aim for. 

Simple Tips That Can Help You Sell at Any Time of the Year 

If you are still debating on when you should sell your home, there are still a few simple tips to keep in mind and work on ahead of time. These tips are great no matter when you decide to sell!

Find the Right Agent

Finding the right agent means finding a professional that will help you meet your every need and goal with your home. You want someone that will be there for you from start to finish!

Base the Price on Selling 

You should price your home competitively. Offering a price that catches potential home buyers’ attention will help you sell your home even faster. 

Make the Deal Worthy 

To make your home look even more attractive, you can throw in special deals, such as paying some of the closing costs or offering a transferable home warranty. Buyers are always looking for sweet deals so this can greatly increase your chances of selling. 

Ready to Get Your House Off Your Hands? We Can Help!  

There’s no team more ready to help you sell your home than El Paso Cash Home Buyers! We can provide you with an offer that works for you within a time frame that also suits your needs. If you have any questions about how we work, you can contact us today to learn more. 

 

Why 2021 is the Year to Sell Your House Fast In El Paso 

A for sale sign in front of a home with two people handing each other a sign that says sold

People in the real estate business are emerging from an unprecedented year with plenty of surprises, changes, and uncertainty. They are not the only ones, of course. Many others across the country were part of industries that saw incredible strife, change, and economic distress.

Early predictions about the real estate markets were all over the place; most thought real estate will not do so well during a national pandemic. Contrary to some of these early forecasts, real estate fared quite well, and—in places like El Paso—there was a pressing demand for buying homes, as interest rates dropped and people searched for a place to call their own. 

For real estate brokers, agents, and mortgage lenders, things seem to be normalizing, with new developments as the new administration takes hold. 

So, let’s take a look at the real estate market in El Paso and why 2021 might just be the best year to sell your home. 

A Background on El Paso’s Real Estate Market

A few years ago, the median home price in the El Paso real estate market was about $143,700. Even today, that’s still far from the national average—which hovers around $208,000. 

El Paso is a unique market as compared to the rest of Texas for several reasons. One, El Paso has a lower median income of $40,000, which makes the homes more affordable, but the appreciation value has also increased in the past few years.

After 2020, however, many people are now looking into communities that are not as populated as the bigger metropolitan areas but are still cities with a robust job market and plenty of opportunities. By Texas standards, El Paso is still a mid-sized city. Houston looms with 2.3 million, San Antonio with 1.5 million people, Dallas with 1.33 million, and Austin with 950,000. The city of El Paso is at about 650,000 people, making it a popular destination in the state for those who are looking for less population density. 

After the housing crash of 2008, the El Paso market took some time to fully bounce back. Once it did, it showed consistent appreciation and growth. Since then, El Paso home prices have remained relatively stable and consistent. 

The Incoming Year and What Experts Forsee

As we close out the first month of 2021, real estate markets are expected to continue to have a demand for properties. Even at the end of 2020, the El Paso market was a well-documented seller’s market with more interested buyers than available homes. 

Due to changing circumstances, people losing jobs, closing businesses, and folks ready to make a new start somewhere else, there is a lot of movement in the country right now. 

In 2019, before the strict restrictions in states like California, people were already moving from these large and expensive metropolitan areas before the pandemic hit. In fact, 653,000 Californians decided to leave for another state. Census data shows that the biggest chunk of those people moved to Texas. In 2020, the exodus continued as California imposed ongoing lockdown orders with no end in sight. Some of the biggest reasons cited for the move included the less-than-friendly business environment, high taxes, left radical policies, and soaring housing prices. 

Now’s the Best Time to Sell Your El Paso Home!

For many people looking for a good-sized city with affordable prices, El Paso is looking pretty good right now. 

Here are a couple of reasons to sell your home this year:

  • Interest rates are expected to remain low. As long as this is the case, there will be a market for homes that are going on the market. 
  • There is an unexpected move. If you’ve decided to make a move, this is your chance. With El Paso seeing such high demands for homes, putting your plan into motion today might ensure a quick and successful sale. 
  • You are economically strained. Doubts about being able to afford your mortgage can put quite the strain on families and individuals who suffered the loss of a job. 

So Why Sell Your Home in 2021? 

Buying and selling homes is a very personal decision. For many families, it means an emotional change when they have to part with a home they’ve loved for years or are moving into a new place. For many homeowners, the year 2020 brought a lot of economic uncertainty that has carried over to the new year. 

Many are wondering whether they’ll be able to continue paying their mortgage or whether their economic stability is about to be put to the test. Others may see this as an opportunity to begin again in a new place, given the freedom of work-from-home models. If this is you, consider this moment as a great opportunity to explore quick cash sales of your home. 

El Paso Cash Home Buyers is able to help homeowners that are looking for a pain-free sale without the run-around involved in traditional sales. Cash sales give you a quick way to change course and, in times like these, many people are looking to do just that. 

Want a Pain-Free Home Selling Experience? Sell Fast with Cash Home Buyers

Home selling can be a pain, but it doesn’t have to be. If you’re looking for new beginnings and need to sell your house fast, contact El Paso Cash Home Buyers and find out more about our process and how we can help you take the leap.

What is the Cheapest Way to Sell My House in El Paso, TX?

A home selling image

For homeowners that are selling their home for the first time, the expenses of selling that home will often raise eyebrows. Many people do not realize that selling a home can be quite expensive, not to mention a bit of a hassle. When the outlook of the economy does not seem as sunny, people look for ways to downsize or reduce their monthly expenses. As the year 2020 comes to a close with many jobs lost and the economy remains on the balance, many homeowners are looking to sell to move to a new place in search of work or remove the headache of a mortgage they can’t quite afford any more. 

Depending on the market, the seller will often have to pay closing costs or at least cover a good chunk of those closing costs. This is why homeowners that are looking to sell are focused on one thing: cutting costs. For many, looking for ways to save money and even expedite the process is an important part. There are many reasons why people are looking to sell their home quickly—whether it is a necessary move for work, financial troubles, or other circumstances. Whatever the reason, there is great interest in selling fast and avoiding getting caught in the long selling process. So we thought we’d look at some ways you might consider to save some money on selling your home. 

Reduce Realtor Commissions and Fees 

Realtor commissions are typically 6% of the selling price. It doesn’t seem like much, but take a moment to do the math and the amount might surprise you. If you haven’t owned your home for a few years, this might mean that you actually take a loss on the home. Let’s take an average home in El Paso at about $150,000. When using the traditional method and using a realtor, that means you are losing $9,000 on that sale. 

Now, if you have not had enough time to build equity and pay off into the home, the chances that you are losing money are pretty high. So how do you get around these commissions? Well, you don’t really. If you are using the traditional method of selling your home, you likely need a realtor and that will cost. It is possible, however, to shop around and find a realtor that is willing to do it for a flat fee. Because of today’s competitive market, this might be a possibility. Also, some realtor companies might offer a 4% commission, so it is possible to shop around. 

Skip Repairs and Reparations

It is possible to sell your house as-is. What that means is, you are looking to sell the home without making major repairs on it. It might be that your home is simply outdated, maybe it’s an older home with older features and appliances or there has been some damage done to the house. Upgrades to older homes take time and money to complete, so it will mean you will have to reduce the selling price or wait sometime before repairs can be completed. Selling the house as is also means you are likely to deal with investors that want to buy the property and are not willing to make any good offers. 

Cut the Closing Costs 

Other costs arise when selling a home through realtors. Closing costs can cause a big dent in your pocket. Some additional costs that come when transferring a home include:

  • Title policy and insurance
  • Attorney fees
  • Property and transfer taxes 
  • HOA fees
  • Escrow costs 
  • Brokerage fees

These are all expenses that will eat away at your possible profits. At the same time, typical closing costs won’t happen until the buyer has had time to inspect the house, and maybe they will like to order an inspection on it. All of this can extend the process to 30 days or more. 

Selling With a Cash Buyer and Avoiding the Hassle 

What we do here at El Paso Cash Home Buyers is just that: help the homeowner reduce costs and eliminate the headache and back and forth involved in a traditional sale. The process with us is easy: 

  • Call us up
  • We view the house
  • We make an offer
  • You decide

There is no obligation in taking an offer or calling us. Our underwriting team here will work out a fair price based on market conditions, similar properties, and the specific condition of the home. This way, the repairs, and renovations are not necessary. You don’t have to worry about curb appeal or cleaning up the yard or fixing that leaky toilet. We take care of that. 

If you are looking to sell your home in El Paso. Call El Paso Cash Home Buyers today and learn more about what we can do for you. 

Why A Looming Recession May Mean Its Time To Sell

A man stands atop a red line and tries to predict a future recession

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!

Selling Your Inherited Property in El Paso

inherited property

So you’ve inherited a home! There are contrasting emotions that come with being given a home. For one, you could be excited about the possibilities of the new home. On the other end, you could be scared and/or stressed with the thoughts of maintaining it. These emotions will have a lot to do with the home itself and your plans for it. Will you move into it? Does it have the potential to be rented out?

If you’re currently feeling as though you want to sell the inherited property but haven’t quite made up your mind, take the following into consideration:

1. Do you have the time and resources to maintain it?

As a whole, consider the realities of keeping the home. If you have the needed time and money to maintain the property than you are at an advantage. If you fall on the other side of the spectrum, that’s okay. Not everyone can afford a second home, even if it was given to you as an inheritance. Do you know that common saying, “Nothing in this world is free”? Unfortunately, It’s true. Inherited properties still come with a cost in the form of maintenance and possibly property taxes.     

2. Is the inherited property located in the same city as you?

Living in a different city than where the inherited property is located comes with some major drawbacks. Unless you have friends or relatives who are willing to help you out, you’ll need to find time to check on home every couple of months. Even if no one is living in it, you need to make sure there are no major issues going on. For example, you’ll want to make sure that there isn’t any property damage such as a leaking roof or pest infestation.  

3. Do you plan on renting it out?

One of the biggest advantages of owning an inherited home is that you can rent it out and earn additional income. However, renting it out does require work, time, and money in order for it to be successful. Since renters in El Paso want homes that are modern, clean, and hassle-free, you’ll need to get the home in shape before you can list it. With an older home, this may require several renovations or a complete makeover. While it is possible, you will need to determine whether you have the money for these renovations. Additionally, once you have tenants, will you be able to keep up with the maintenance?

4. Is the home causing more stress than anything?

When parents or grandparents pass away, their children are often surprised at how they chose to divide (or not divide) their lifetime earnings. A home is often one of the most controversial items on the will. It can create tension, fights, and even months or years of not speaking. If you currently find yourself in this situation, it may be best to sell the home. When an inherited property is causing more harm than good, you should move forward and away from the situation by distancing yourself as much as possible. And the furthest you can get is selling it.   

5. Do you need money for something else?

Homes are amazing assets. An inherited home is twice as amazing because you didn’t have to pay upfront for it. The question of whether you should sell it will come down to this: Do you need the money? Even if the home has sentimental value, it’s important to consider whether you could use the money you earn for the home on something more pressing. For example, let’s say you need help sending off your son or daughter to college or you’re tired of being in debt and want to pay off those high-interest rate credit cards so you can sleep better at night. If there are other large expenses that need your immediate attention, selling the inherited home could be wise.

Don’t Stress! Contact El Paso Cash Home Buyers Today

No one is ever prepared for the realities of being granted a home. Even if your parents, grandparents, or whoever left you the home gave you advanced notice of their plans to leave the home in your name, when the time comes, things can feel very differently. Perhaps your situation today can’t afford you the time and resources needed to maintain an entirely separate home.

If you’re feeling overwhelmed by the whole situation, give us a call. We can provide you with a market analysis of your home, which will ensure that we present you with a 100 percent competitive cash offer based on the current real estate market. To learn more, simply give us a call!

3 Signs It’s TIME TO SELL Your Rental Property

sell my home

Whether this was once your primary home or you inherited it after a relative passed away, having a rental property can come with numerous benefits. This does, however, depend on what the situation looks like. It’s possible to have a rental property that’s lucrative and easy to manage one year then find yourself with a money pit the next.

If it’s been years since you last saw positive earnings from your rental home, you should consider selling. A good real estate investment looks vastly different than a home with one too many repairs whose current dwellers are making them worse! In addition to not earning the money, you should be from monthly rent, putting money into the home could wind you in the negative.

So if you’re experiencing any of the following, consider selling your home sooner rather than later:

1. Your Rental Property’s Finances Are Always In the Negative

This reason alone should be why you act fast. A rental property should bring you consistent POSITIVE cash flow. When you’re consistently having to chase down the tenants or you find yourself forking out your own money to cover the needed repairs, this can’t be good. Monthly cash flow includes your income on the rental as well as the expenses. These two should leave you with positive income. If the rent isn’t consistently covering the additional expenses, this will hurt you. You might think a month or two of paying out-of-pocket expenses is okay but once you go past that, you will only be damaging your finances.  

2. It’s Located in a Less Than Desirable Area

El Paso’s real estate market is changing. It is one of the top cities to buy a home and yet there are areas that aren’t necessarily seeing those benefits. The reason? Unfortunately, with new development, potential buyers are flocking to areas with newly-built homes. Another possible reason your rental home isn’t seeing traction since the margin of renting vs. buying is so close, many are choosing to buy vs. rent. From a financial standpoint, even renters are looking for the best way to invest. This means finding a home that’s a)for sale and b)located in a new development area. Of course, this isn’t always the case but it may be for your rental property.    

3. Managing it Feels Like a Full-Time Job

The purpose of owning a rental property is to bring in additional income. If this isn’t your primary source of income but it feels like a full-time job, then something may be wrong. From receiving calls from the tenants while you’re at work to spending countless weekends making repairs, the time you devote to the rental property shouldn’t drastically overlap with your professional and personal life. Moreover, if it’s affecting your health in the sense that you’re stressed and consistently worries—this can’t be good.

Ready to Make a Positive Change?

If you’re ready to rid yourself of a rental property that’s no longer worth your time and effort, then consider selling it for cash. At El Paso Cash Home Buyers, we buy rental properties in any and all conditions. With the cash we give you for your property, you’ll be able to use it towards your own home or invest in something else for that matter. Our cash offers are competitive and we’ll even beat another competitor’s legitimate offer. Connect with us today to learn more!

Do You Need a Fresh Start? When To Consider Selling Your Home

Financial assistance

The reality is, the majority of Americans live paycheck to paycheck. On top of paying the bills that come every month such as the mortgage, electricity, water, and other personal needs including groceries and hygiene products, we still have other bills. It could be the credit cards we used to buy furniture and Christmas gifts, a car payment, student loans, something we financed, and essentially this list of additional bills can go on and on. Carrying debt means that not only are we living paycheck to paycheck but essentially we’re taking on additional debt in the form of interest that won’t go away until the account is paid in full.

It’s no surprise that the desire to start all over again is alive in so many of us. We’ve all made mistakes with money even if it was as minor as buying the wrong pair of shoes that we can no longer return, the feeling of defeat is something we’ve all experienced. If life were as simple as hitting a reset button the majority of us would have hit it by the time we turned 32. But since we don’t have this option, it’s time to be practical. This begins with a financial plan.  

Creating a Financial Plan — Deciding What Goes and What Stays

Think back to a time when you didn’t have debt. What did your life look like? Perhaps you weren’t driving the same vehicle, your student loans were non-existent, you didn’t own so much stuff, or perhaps you didn’t have the house you live in today. It’s easy to get comfortable to a certain lifestyle but once you realize you can longer afford that life, it’s time to make changes.

Making a financial plan begins with listing all of your debt. Write down the lender and exactly how much you owe. Then, determine how long it’s going to take to pay off those accounts. Once you have a clear picture of what your true debt looks like, it’s time to decide what should stay and what should go. Do an inventory of our home. Clean out the garage and see what items you could possibly sell.

One of the biggest items on your list will easily be your home. If you can longer afford your mortgage and your income won’t be changing anytime soon, it’s time to sell.

Selling Your Home for Cash

Imagine not having a monthly mortgage. Or imagine if that payment was even half of what it is today. You could pay off those credits and you wouldn’t feel like you’re consistently suffocating. When you sell your home for cash, not only will you have the ability to start fresh but you can make wise decisions with a clear mind that will put you in a better position then if you were to stay in the one you’re presently in.

financial help

Explore How Selling Your Home in El Paso Can Provide You With Financial Freedom

El Paso Cash Home Buyers is an investment company. We buy homes and invest our own resources to fix them up and make them move-in ready for the next dwellers. When you sell us your home, we are investing in you. Our cash offers are competitive because we know that this amount is going give you the leverage you need to begin your new journey. But above all, our offers are based on the real market value. We’ll never ask you to make any repairs and we always buy as-is. You can think of us like a reset button. Sell us your home and start fresh!