We buy houses in Bellevue Washington. We are local homebuyers in WA. If you are trying to sell your house in Bellevue, you may find that it is more difficult than you had expected, especially if your house has any repairs needed that buyers just don’t want to deal with.
In this article, we’ll dive into some of the devastating consequences of foreclosure in Bellevue WA for house sellers.
Local Bellevue House Buyers Have Lots Of Options For Houses But Fewer Options For Financing
There are floods of homes on the market. Thanks to the economic turmoil in recent past (and still going on in some areas), some types of houses just aren’t selling as fast as they were 5 years ago, while the “sweet spot” type of houses (3 bedrooms, 2 baths in the middle to lower-middle price range) is selling at a good clip.
Part of it is because lending guidelines have changed since the housing collapse, so fewer buyers are out there for some homes. There are still stockpiles of foreclosed houses in Bellevue that keep trickling into the market from banks, and buyers are choosier than they were in years past because many of them have learned that you can no longer buy a house and bank on the fact that it will appreciate by 3%+ a year in value.
If you are a seller in this market, you may be becoming discouraged and wonder how you can just sell your Bellevue house fast, right?
If it seems like you keep putting more money out to improve your home (or if you have repairs but don’t have the money to do those repairs) but are still having a hard time selling your Bellevue house, you aren’t alone. A buyer’s market makes conditions hard for sellers to swallow. No one likes to see their home picked apart, criticized, or devalued, but that is exactly what most sellers are dealing with.
Worse yet, due to the devastating consequences of foreclosure in Bellevue, many sellers in the area who hold out for the price they want are getting little action and no offers at all, sometimes leaving the house on the market for months on end.
How Foreclosures Have Driven Local Bellevue Housing Prices Down
When the housing market crashed and the foreclosures began to roll in, it flooded the real estate market in Bellevue. That means there is more inventory on the market. When that happens, that drives the price of everyone’s houses down because there are more options (at lower prices) for buyers out there.
When there is more inventory than buyers, it devalues the homes for sale.
The jury is still out on whether we’ve climbed out of this foreclosure hole or not. There are still lots of foreclosure houses in the Bellevue area, and the banks are still holding many, many area homes in their own inventory that aren’t even for sale yet.
But, there are some things you can do in this market to reach your goals in selling your house.
Selling Your Bellevue House On A High Foreclosure Market
If you want (or need) to sell your property, you’ve got a couple options to look at.
- If you don’t need to sell your property fast and can wait the market out, Get A Great Real Estate Agent On Your Side: If you don’t need to sell your home fast and you can pay the real estate agent commissions, it may be best for you to just wait the market out and give some time for that perfect buyer to come your way and pay the price you’re looking for. The market is improving, and if you can sell your home next year rather than now, it may mean a few extra bucks in your pocket from the sale at a higher value. A great real estate agent can help you list the house and market it for you. If you don’t have a good local agent, just reach out to us and we can connect you with some great real estate agents we know in town who have shown they can sell a house fast. Email us over here for a Bellevue area real estate agent referral.
- If you DO need to sell your property fast, look for quick sale options like selling your house to us: Selling your house fast in a market like this can be difficult if you go the traditional real estate agent route… unless you discount your house in a big way. Then, on top of that discount, you’ll be paying the real estate agent commissions, which takes even more cash out of your pocket in the end. Another option you should look at is selling your house to a real estate investment firm like Good As Sold Home Buyers. We buy Bellevue houses and can make you a cash offer within 24 hours for a fair price. We’re not looking to list your house; we’re actually looking to buy the house from you. We’ll take care of any repair costs after we buy it from you, then we either keep it as a rental property or we’ll turn around and invest our time, money, and expertise into selling the house to another home owner. It can be a win-win-win situation. If you’re looking for the full retail value of your house, we can’t pay that. We do need a discount so we can make a profit on our end, but you won’t ever pay us any fees or commissions.
Sell My House In Bellevue WA
Reach Out To Us To Sell Your Bellevue WA House Fast… Even In A Market Like Today’s
We are Bellevue home buyers. If you have any questions about our local house buying service, just reach out to us anytime. You can call us at (425) 366-7574 or reach out to us over on our Contact page.
Or, if you’re ready to get a fair offer of cash for houses in Bellevue WA today, just click the link below to go to our “Fast Offer” form. Fill out some basic info on your house, and we’ll be on our way! If you need to sell your house in WA area, we’ll let us know how we can help.