It’s evident the home selling market has seen better days when experts insist that because fewer news reports are using terms like “sluggish” or “stagnant” that it is a sign the economic outlook for housing market is improving. But that is just what one economist was quoted as saying recently.
In fact, home prices are rising and the economy is showing signs of improving. But the for sales signs for many if not most property owners can stay in place for months, even a year or more, in the search for a buyer. According to one study, homes can stay on the market for an average of four months before an offer is made, even with mortgage rates still low.
Mortgage lending, meanwhile, is still tighter than during times that are considered seller’s markets. So even with all good intent, buyers may still find it difficult to qualify for the higher home prices that are being recorded. One mortgage banker has been quoted as saying that the greatest barrier to a solid improvement in the housing market is a lack of available finance.
Meanwhile, mortgage rates are predicted to continue to rise, again pricing many would-be buyers out of the market and further delaying the turnover in housing sales. Housing specialists are advising buyers to jump on property as quickly as possible to make sure to qualify for the lower rates.
Unstable income and price ratios
Higher prices for houses sends a mixed message. In once case, it shows demand is increasing, even gradually. In another case, house prices are already stretching the limit. The home price-to-income ratios, how much a house costs versus the income level for purchase, is already reaching an all-time high.
Most houses that are selling more rapidly than average are those in the higher price range that are located in areas of the UK that are seeing the fastest recovery. This would include the North West, which is seeing record business growth, and London, which is at a 40-month high.
Not everyone has a pristine manor located outside London to sell. So that leaves many who need to sell their homes quickly to cash out or who are moving and already have a new house in their new location still facing uncertain times. Mortgage rates, housing prices, the growth or lack of in the general economy – these all can make turning a home around fast difficult if not impossible.
What you can do!
That is also when prudent homeowners will turn to home buying firms like Quick Homebuyers for relief from stress and financial strain. At Quick Homebuyers, which is a property buying firm, housing specialists can give a homeowner an offer on their house within 48 hours and often within a day.
Quick Home Buyers
can buy houses that are worth less than their mortgage or even those undergoing repossession. We will handle all the paperwork at no fee and provide the seller with their own solicitor who will look out for the homeowner’s interests.
So when a quick home sale
is required, for whatever reason, contact the experts at Quick Home Buyers.