49. The Devastating Consequences Of Foreclosure In Salem NH For House Sellers

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Going through foreclosure in NH? This article walks you through the affects foreclosure could have on you…

We Buy Houses In Salem New Hampshire and we offer cash for houses in NH. If you are trying to sell your home, you may be finding 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 Salem for house sellers. 

Local Salem Home Buyers Have Lots Of Options For Houses But Fewer Options For Financing

cash for homes in Salem NHThere are floods of homes on the market, and 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 house (3 bedrooms 2 baths in the middle to lower-middle price range) are 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 Salem that keep trickling into the market from banks… and buyers are more choosy 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 a 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 Salem 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 Salem 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 Salem, 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 Housing Prices Down

sell my home in Salem NH When the housing market crashed and the foreclosures began to roll in, it flooded the real estate market in Salem. That means that there is more inventory on the market. When that happens, that drives the price of everyone’s house 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 Salem 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 by selling your house in foreclosure.

Selling Your House In A High Foreclosure Market

sell your home in Salem NH

If you’re wanting (or needing) to sell your property you’ve got a couple of options you should look at.

  1. If you don’t need to sell your home fast and can wait for the market out… Get A Great Real Estate Agent On Your Side:  If you don’t need to sell your property fast and you can pay off your mortgage… it may be best for you to just wait for the market out and give it 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 on 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 god 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 Salem area real estate agent referral.
  2. If you DO need to sell your home 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 Colony Property Investments. We purchase Salem properties 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 purchase the property from you… we’ll take care of any repair costs after we purchase 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 homeowner. 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 Salem NH

Reach Out To Us To Sell Your Salem NH House Fast… Even In A Market Like Today’s

We are homebuyers in Salem NH. If you have any questions about our local Salem house buying service just reach out to us anytime.

You can call us at (603) 605-1261 or reach out to us over on our Contact Page. Or, if you’re ready to get a fair cash offer on your house today, just click the link below to go to our “Fast Offer” form… then fill out some basic info on your house and we’ll be on our way! If you need to sell your house in NH fast, we’ll let us know how we can help.

Get A Fair Cash Offer On Your Salem House Today >>

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