I have been getting a lot of questions about how the real estate market is for an investor right now. The answer is that it is tough to be a buyer in today’s market, period. This goes for retail AND wholesale buyers!
The biggest problem is simply supply and demand. There are so few houses on the market right now causing buyers to have to do more to compete. In most cases that means offering more money; but now always.
Since we are a unique buyer, we can bring more to the table than simply price. Let me explain; we can offer a seller unique options that retail buyers may not be able to. For example:
We can close in as quickly as 7 days. Most traditional financing takes 45 days.
Because we purchase with cash we do not have the typical FHA restrictions for the condition of the home. Have a cracked foundation? Not a problem for us BUT someone with a traditional loan could not purchase in that condition.
We buy as-is! This means you do not have to put money into fixing and staging your home for sale.
Our specialty is providing real estate solutions. It is our job to think creatively to find a win-win opportunities; which is why we offer FREE consultations to discus your specific situation.
Current market trends:
Mortgage applications are down for the second week. Applications have dropped 3% for new purchases and 5% for refinances.
This indicates that the real estate market is slowing down a bit. Could it be that prices have risen too high and priced-out many potential buyers? Or, that people are giving up after losing too many bidding wars? Or, are people finally embracing post COVID travel and are simply too busy?
It could be a combination of all of these things and may be good news for those of us who are continuing to make offers.
JNT Property Solutions is a family owned, residential real estate solutions company located in Southern Wisconsin and Northern Colorado.