Higher Interest Rates are Making it Difficult for Homeowners to Sell in Newport News

July 12, 2019 - /PressAdvantage/ -

Dependable Homebuyers predicts an increasingly difficult time for homeowners who are trying to sell their residential properties in Newport News. The real estate market has already become more favorable for buyers with the increase in the interest rate late last year. The Federal Reserve has said that at least two more rounds of review are due this year. If the rates of interest are raised again, not just once but twice, then the market is clearly not conducive for sellers.

The We Buy Houses company cites the decline in the number of available buyers in the market today. This has already become a problem. More properties are listed for sale in the city than there are buyers. Many sellers are reducing their ask prices to appeal to more buyers. The buyers too are fully aware of the higher interest rates and the fact that the market factors are in their favor. This is leading buyers to harder negotiations. Most buyers want a dramatically reduced ask price so they can comfortable accommodate the increased interest levied on their mortgage. This may suit some sellers but most homeowners in Newport News want to secure the maximum return on their investment. This cannot happen in a buyers market, especially when the rates of interest are already high and may be raised again.

Dependable Homebuyers states that the market is in favor of cash investors for this very reason. The company owned by Evan Roberts is a cash investor. Similar companies who can make cash offers to sellers will find it easy to close the deals. Cash investors do not depend on banks so there is no appraisal. In an environment when the interest rates are high, the appraisal becomes a bone of contention and it does not always work out well for the sellers. Buyers also struggle because they have to keep the net liability in check, which includes the principal loan amount to be repaid every month and the accruing interest. Cash investors can also avoid real estate agents and offer direct deals to sellers. This does away with steep commissions and other expenses. More of Dependable Homebuyers services can be found here.

Homeowners who cannot sell in the open market and are unwilling to reduce ask prices to make their propositions more enticing for buyers can contact Dependable Homebuyers. The company inspects properties immediately and presents purchase offers. The service is free and the offer is nonobligatory. Sellers can choose to accept the deal or turn it down. The We Buy Houses company has the ability to close a sale in seven days if the owner agrees to proceed immediately. Dependable Homebuyers pays for the closing cost. They do not charge any fee or commission. Homeowners in Newport News can secure the maximum value for their property. Since it is a cash transaction, the higher rates of interest or the discretion of buyers and their banks do not have any relevance at all. More such cash investors are expected to take advantage of the higher interest rate environment, thus offering respite to sellers who are struggling to secure an acceptable closing offer. Interested homeowners can read a recent press release they published at https://www.pressadvantage.com/story/29129-newport-news-is-a-sellers-market-according-to-dependable-homebuyers.

###

For more information about Dependable Homebuyers Newport News, contact the company here:

Dependable Homebuyers Newport News
Evan Roberts
(757) 296-8067
evan@dependablehomebuyers.com
75 Huxley Pl, Newport News, VA 23606

ReleaseID: 60029464

More News

The Latest: The late Roy Halladay inducted into Baseball HOF

Jul 22, 2019

COOPERSTOWN, N.Y. — The Latest on the Baseball Hall of Fame Inductions (all times local): ___ 2:55 p.m. The late Roy Halladay has been inducted into the Baseball Hall of Fame. His widow, Brandy, delivered the speech and fought back tears as she spoke. The 40-year-old Halladay was killed in a plane crash in November 2017. "I knew I was going to cry at some point. It's overwhelming the amount of people here today," she said. "I'm so grateful you're here. I can't tell you how many hugs I've gotten. They have extended so much love and friendship. I'm so...

Donors suspend funds for Poland's Jewish museum

Jul 22, 2019

WARSAW, Poland — A Jewish association says some private donors to Poland's renowned Jewish history museum have suspended funding out of concerns about the government's failure to renew the term of its director. A special commission in May approved Dariusz Stola for another five-year term, but Culture Minister Piotr Glinski hasn't yet officially reappointed him. Glinski said recently he was still weighing the decision, because Stola had allegedly refused to make the museum available for a conference that was to be dedicated to the late twin of ruling conservative party leader Jaroslaw Kaczynski. The Museum of the History of Polish...

California exhibit paints Ed Hardy as artist, tattoo pioneer

Jul 22, 2019

SAN FRANCISCO — When people hear the name Ed Hardy, they likely think of the flashy, tiger- and skull-emblazoned clothing that rocketed to popularity in the 2000s, appearing on the likes of Paris Hilton, Britney Spears and cast members from the reality TV show "Jersey Shore." Others recognize Hardy as a trailblazing tattooer whose unique designs were licensed for use on apparel and merchandise, and whose legacy transcends the brand's current notoriety. But few know him as a prolific fine artist. "The clothing was one little blip on his whole career, which was staggering," said Mary Joy Scott, a tattoo...

Greece: Emergency declared after deadly storm hits resorts

Jul 22, 2019

THESSALONIKI, Greece — A state of emergency has been declared in an area of northern Greece after a violent storm tore through seaside resorts, killing six tourists. A fisherman, who had been missing, was also found dead Thursday taking the death toll to seven. The widespread damage wrought by the storm has renewed calls from civil protection experts, environmental groups, and the country's Orthodox Church for a shift in policies to address the impact of climate change on Greece's coastline terrain. Powerful gales late Wednesday hammered the Halkidiki peninsula snapping trees and power pylons, tossing vehicles and flinging beach lounge...

The Latest: 7.1 quake rattles Southern California

Jul 22, 2019

LOS ANGELES — The Latest on Southern California's strongest earthquake in 20 years (all times local): 10:30 p.m. Authorities say a magnitude 7.1 earthquake that jolted California has caused injuries, sparked fires, shut roads and shaken ball games and theme parks. However, authorities say there are no deaths or major building damage reported from the quake, which struck at 8:19 p.m. Friday. It was centered about 150 miles from Los Angeles in the Mojave Desert near the town of Ridgecrest, which was still recovering from a 6.4-magnitude preshock that hit the region on Thursday. There were reports of trailers burning...

To travel is to live. Unearth your next travel destination here with The Travel Trooper. We love what we do and looking forward to more #travelsquad joining us in this journey.

Contact us: sales@thetraveltrooper.com