3 Reasons To Still Sell Your House This Spring
Were you thinking of selling your house this spring but COVID-19 has you thinking otherwise? Let’s face it, COVID-19 has thrown a very large, unexpected monkey wrench into our lives. People are out of work, and social distancing is the norm. But as we are all starting to learn, life must go on, including still selling real estate. Brotherly Love has bought houses in Philadelphia pre-pandemic and still plans to buy them moving into 2020. In an unexpected way, it’s still a good time to sell a vacant piece of land you’ve been holding on to. Even that rental with those tenants who aren’t paying rent, the inherited house your grandma left you, and your primary residence could still be the unexpected goldmine you hoped it would be to help you during this uncertain time.
You might be thinking it’s impossible, there’s no way I can sell my house fast in Philadelphia with the lockdown in place. That’s where you’re wrong – title companies that handle these transactions are an essential business and are still able to operate and conduct closings. For example, World Wide Land Transfer is still able to facilitate multiple closings each week! Technology has provided ways for properties to still be able to be toured virtually via Zoom, FaceTime, and video, and companies like Brotherly Love Real Estate are still buying as we want to continue our mission to help those in need. We buy houses, even when times are tough! So if you’re still questioning yourself on if it’s still a good time to sell, here are three reasons why it’s actually still a good time to sell your home this spring.
Earn Profit from Selling Your House
Philadelphia’s real estate prices have proven to be relatively stable since the pandemic arrived on the east coast. However, this has the potential to change given the current state of the world. The stock market has already been largely impacted, seeing its worst day in 33 years in mid-March with unemployment at its all-time highs, and millions of people filing for unemployment. With the uncertainty of the foreseeable future of the Philadelphia real estate market, there are considerably fewer buyers and investors purchasing land, rentals, fixer-uppers, and even owner-occupied homes to live in themselves. Basic economics will tell us when there is less demand, prices will drop. This is why if you are considering to still sell your house this spring, it can be a smart decision to sell sooner rather than later.
Because prices in the Philadelphia real estate market may continue to over the next few months, there is still an unknown amount of time until the market bounces back. Are you still wondering if there will be investors that buy houses in Philadelphia during this time? Think Brotherly Love Real Estate! With virtual showings, fair cash offers, and virtual closings, Brotherly Love Real Estate is still creating win-win situations with sellers.
Committed to Buying Houses This Spring
Consumer confidence is becoming lower by the week, and stay-at-home orders and greater job losses are negatively impacting where and how people are willing to spend their money. We are seeing greater numbers of investors committing to a buyer and then, right before closing, finding out their funds are no longer available and they cannot close can be extremely detrimental to any seller. While most investors that still have cash are sitting on the sidelines until this is over, or worse, pulling out of contracts due to the nervousness of a real estate crash, Brotherly Love Real Estate still keeps the commitment to sellers as soon as a fair cash offer is made and won’t pull out if you decide to sell your house this spring. Sellers can have peace of mind that once an agreement is signed, they will still be closing, typically on the day of their choice. Brotherly Love Real Estate is backed by cash investors looking to continue growing their portfolios, even during a pandemic!
Long-Term Impacts On Real Estate
The long-term impacts of this virus on the Philadelphia real estate market are unknown. We are seeing so many job losses, with business closures soon to follow. We don’t know when the stay-at-home orders will be lifted, or when we can once again go watch our beloved Phillies in South Philly, or go grab a beer with those old friends at Fishtown’s Frankford Hall. Even though the government has temporarily paused foreclosures, we may see a large wave of foreclosures hitting the market in the next year or two due to the massive job losses, meaning there will be more inventory. Again, basic economics tells us when supply is high, prices will drop, which is why it’s a smart idea to consider selling your house now in the spring before the Philadelphia real estate market takes a nosedive. As you guessed, Brotherly Love Real Estate is committed to fair cash offers while maintaining social distancing practices, flexibility in closing dates, and creating win-win opportunities with sellers.
Strongly consider the importance of your timeline, and confidence of actually being able to get to the closing table and get cash in hand when you sell that headache investment property, vacant land that keeps getting violations from L&I, or your inherited grandma’s house. Call Brotherly Love Real Estate when you’re ready for your cash offer! Stay safe and healthy!
Brotherly Love Real Estate is a premier cash home buyer in Philadelphia, PA. We buy houses as is. If you need a quick house sale, click here to learn more about how we can help. The sky is the limit with real estate!