5 Things Homeowners Need To Know About The Current Real Estate Market in Rochester

5 Things Homeowners Need To Know About The Current Real Estate Market in Rochester

No matter what your involvement is in the real estate world, you need to know what is going on in your local market. Keep reading to learn more about what is happening now and what the experts are predicting to happen in the months ahead! 

If you are considering buying or selling a house in Rochester, it’s critical that you understand your local real estate market. Read below for our experienced advice on what you can do in the current market. As always, reach out to us if you have any questions about buying or selling real estate in Rochester or the surrounding towns like; Henrietta, Greece, Brighton, Gates, Penfield, Fairport, and Pittsford.

What Is Going on in Today’s Real Estate Market

In these uncertain times, both buyers and sellers have serious concern about the current state of the economy. While this may seem challenging, it can actually be a blessing in disguise,  as there will less competition when you look to buy or sell. There will be fewer homes on the market, therefore, more interest in the house you are selling. In addition, since fewer people want to spend money on a new house, you will be able to get your offer in front of sellers that much faster.. Despite the economy and the virus, there are great opportunities out there for both buyers and sellers. In other words, now could be the right time to cash in. If you do your homework, having fewer buyers and sellers in the marketplace could make this a great time to jump in the market.

Interest Rates

Although interest rates are hitting all-time lows, lenders are getting more selective on who they want to loan money to. Lenders are being more careful due to the current state of affairs in the economy. They are worried that the borrowers will not be able to repay the loan.  Investors want to buy because of the great interest rates, but it does not mean they will actually be able to get the loan.  Make sure you check the Current Rates and do your homework on lenders.

Predicting The Future

With experts predicting a recession, there is a lot of uncertainty with the real estate market in Rochester. Education is your best weapon in times like this in Rochester, so make sure you do your research, and ask the experts, like Chris Lawrence at Helping Homes. For example, you may be able to buy low and sell higher at a later date. And if you want to sell your house right now in Rochester, now may be the time to get the ball rolling before the downturn really begins. At Helping Homes REI, LLC, we keep an eye on market fluctuations, which lets us purchase your home in a matter of days, and save you from getting a low offer. There are never any costs, fees, or surprises. We strive to make the process as simple as possible and save you any headaches when selling your home in Rochester.

What You Can Do As A Home Seller

You need to look at all the selling options available to you, when it comes time to sell your home in Rochester. To get the ball rolling, ask yourself some questions such as…

  • What length of time are houses typically staying on the market in your neighborhood?
  • How close to asking price and sellers getting in Rochester or are they having to lower their prices in order to get a sale?
  • If you decide to list your home on MLS in Rochester, do you need to fix up the property first? Additionally, what are the costs involved to make repairs and fix up the property? What will it cost to successfully list your home on the
  • Have you factored in the agent commissions and closing costs sellers face when selling in the traditional manner?
  • If you have the time and money to wait, are you better off selling your home in a few months? Or do you need to sell now? Take a look at your finances to make sure?

If you have decided that you need to sell your house in Rochester right away, going the traditional route and hiring a real estate agent may not be the best way. Working with a direct buyer may get you the cash you need quickly, without the headaches of repairs and closing costs.. Run the numbers for your property and ask yourself the questions listed above.

Ready to Buy?  Consider the Following:

Although there is reluctance to get into the real estate market due to the current economic climate, there are still good deals out there for motivated sellers and buyers.. At Helping Homes REI, LLC, we can help you find the perfect property whether you are looking to invest or find a home of your own. Our ability to help sellers close quickly and without any additional fees allows us to acquire properties at lower prices than other buyers. We, in turn, pass these deals on to those who are ready to buy.

By working with buyers and sellers, and eliminating the unnecessary closing costs, commissions, and other miscellaneous fees that drive up prices, we can get you a good deal. Get rid of the middleman, buy or sell direct, and come out a winner!

Do you want to learn more about the current real estate market in Rochester? Reach out to us today to get the information you need! Call today! (585) 294-4658

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