We Buy Houses!

Time and technology have drastically shifted the way we do business and the real estate industry is no exception. Brenda, my mother’s best friend, was looking to sell her home in Boston, my hometown. She was appalled when her agent told her that she didn’t need to have an Open House!

She called me, convinced that they weren’t serious in helping her sell her house. “Don’t people have open houses in D.C.?” she inquired, wondering if her New England agent had just gone under the weather! I laughed and gave her both sides of the debate. It really ends up being a case-by-case deal, but here’s something to help you weigh your odds:

Why Hold an Open House?

Many like Brenda expect an Open House for their home sale. But according to the National Association of Realtors’ (NAR’s) Profile of Home Buyers and Sellers, nine out of 10 buyers today look for houses on the Internet. People have less time to spend. New technology that allows 360 degree virtual tours make it almost as good as being there.

On the other hand, a virtual tour is a virtual tour is a virtual tour! Slideshows can show a buyer your house, but it misses that personal touch. They can’t feel, smell or experience your house. It’s like buying a car! People won’t just give a down payment on a car without test-driving it! If people have seen pictures of your home online, they are more likely to elevate their interest to the next level. Don’t believe me? Ask NAR. Their survey also suggests that a large percent of buyers definitely go back to Open Houses as a source of information for their home purchase.

Who will an Open House Benefit?

A survey conducted by the Real Estate Center at Texas A&M University hinted that the people who actually benefit from Open Houses are usually the agents – it’s a place for them to build on their clientele! How come? Home buyers who come to Open Houses are more likely to ask the agent to show them more houses in a similar price range, similar layout or in the same neighborhood.

The other side of the story suggests that an Open House could in fact help you seal the deal. There are home buyers who are curious to explore all available houses in a certain area, and might not ask their agent to accompany them to every house. Open Houses definitely benefit the seller in such cases.

What other Concerns should you Consider?

Sometimes agents might refrain from holding an Open House if they have a solid marketing strategy in place. It’s an added cost, it eats into their weekends and it could be a waste of time – especially when people visiting the house are not even serious about buying one right now!

Then again there are concerns about safety and security. Who are you inviting into your home? Is it a potential home buyer, or just someone who’s trying to swipe the knickknacks off your mantelpiece?

Explore your options well. If you’ve done aggressive marketing for your home and have still not found any buyers at your doorstep, maybe it is time to have an Open House. You could also reach out to agents at Express Homebuyers who will do the selling for you, with or without an Open House!
Just call us today at 877-804-5252 or visit our website to get started with selling your home today!

One of life’s biggest ironies is that there is more help available for those who don’t need it than those who do. The higher your credit score, the lower your interest rate. If you are doing well and have been able to keep your credit score high and your debt low, you will be rewarded with a lower car payment, for example, due to reduced interest even though you could afford to pay more. The person who might benefit from having a reliable new car for one of those $169-a-month car payments advertised on commercials often drives away with a used car and much higher payments. Of course, those who can qualify for the cars that are $169-a-month, seldom want those and opt for other upscale models they can afford as their interest rate is lower.

As there is no law that forces companies to grant credit, much less at a cheap price, the rest of us have to, first, use what it available for us, and then, plan for the future by improving our credit scores. As mentioned in a recent article, those who seek mortgage help by using a government or lender-sponsored program suffer a credit score blow. Those who file bankruptcy or lose their home to foreclosure are penalized for years. However, any of these things can make for a fresh start.

There are a couple of ways that people in trouble can initiate their own fresh start. Many times people cannot afford to be homeowners, even with mortgage reductions. This is why short sales and even deeds-in-lieu have become a popular way of divesting oneself of a home. If the lender agrees to go with either process, you, as a debtor, can put the mortgage behind you. Assuming that you live more frugally, you can work on paying off your other debt. The downside is that the lender can come after you for the difference.

Express Homebuyers offers a similar but often better option: we buy your home for cash.  Unlike short sales, which often take months to complete, you can have your deal wrapped up within a couple weeks. We even offer you $2,500 upfront so you can use to secure your new dwelling.

Want to get yourself a fresh start? Call Express Homebuyers today at 1-877-804-5252 or visit our website for more details. We can get you started on the way to financial freedom with one phone call.  Make today the day you take charge of your future. We will make you an offer on your first call, provide free reports to help you make your selling decision, and we even offer options to chat with one of our helpful consultants.

If you are in trouble with your mortgage payment, you may be applauding recent government programs to help you negotiate a loan modification.  You may have already been helped through Making Home Affordable or through a similar program at your bank.  Now with recent program changes that encourage principle reduction and offer help making payments when you are unemployed, you may feel assured that you will make it through a tough time with your home intact.

This is great news, but there is a down side.  In the process of saving your home, you may lower your credit score. Anytime you are delinquent, have your payment adjusted or loan terms adjusted, you take a credit score hit.

Some homeowners who opted into a trial modification under Making Home Affordable are finding this out the hard way.  They make a few payments at the lower amount, only to find out their score has dropped.  Being in the trial program is no assurance they will even be accepted for permanent modification, yet they are penalized about 100 points just for asking for help.

The credit industry is, of course, quick to defend this practice of penalizing those who even ask for a change in loan terms.  The government realizes this is a side effect.  Consumer advocates deplore the practice on the grounds that people should not be zinged for trying to do the right thing.  All of these parties encourage people in trouble to ask for help before their homes go into foreclosure, but the credit score drop is a disincentive to many.

However, for most who seek help, this is an irrelevant side effect, especially if they are already behind on payments and close to losing their home. It’s like telling people on the sinking Titanic that they will be billed more if they chose a red lifeboat instead of a blue one.  If you’re drowning, you might prefer the blue one, however, if the red one is the only one in sight, paying more for red seems pretty reasonable.

Remedies such as loan modification, bankruptcy, and even short sale or foreclosure are last resort remedies that you might choose when you have no other options.  In a perfect world, you would be able to pay your bills without needing help.  In the real world, if you need help, your best option is to use the help accessible to you.  The time to ask is - as soon as you need it.  There may be a credit score impact with any remedy, but the impact is less the earlier you ask.

Express Homebuyers will buy your home for cash.  Call us today at 1-877-804-5252 or check out our helpful website.  We will make you an offer on your first call, provide free reports to help you make your selling decision, and even offer options to chat with one of our helpful consultants.