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 From The Financial Capital

China launches STAR, tech stock market to boost industry

Jul 23, 2019

BEIJING — Trading starts Monday on a Chinese stock market for high-tech companies that play a key role in official development plans that are straining relations with Washington. Regulators have approved 25 companies in information technology and other fields seen by communist leaders as a path to prosperity and global influence for the Shanghai Stock Exchange's STAR Market. The market, modeled on the U.S.-based NASDAQ, reflects the ruling Communist Party's desire to channel private capital into its development plans. It gives small Chinese investors a chance to buy into tech industries that have mostly turned to Wall Street to sell...

China's economy growth cools further amid US tariff war

Jul 23, 2019

BEIJING — China's economic growth sank to its lowest level in at least 26 years in the quarter ending in June, adding to pressure on Chinese leaders as they fight a tariff war with Washington. The world's second-largest economy grew 6.2% over a year ago, down from the previous quarter's 6.4%, government data showed Monday. Forecasters expected China's economy to rebound in late 2018 but pushed back that target after President Donald Trump raised tariffs on Chinese imports to pressure Beijing over its technology development tactics. Now, economists say the slowdown might extend into next year. Weaker Chinese activity carries...

Hong Kong protesters march in new outpouring of grievances

Jul 23, 2019

HONG KONG — Protesters demanding the resignation of Hong Kong's chief executive and an investigation into complaints of police violence filled the streets of a northern town Sunday, adding to an outpouring of grievances against the territory's leaders. Some of the more than 10,000 people marching in Sha Tin called for genuinely democratic voting in the former British colony. A handful called for an independent Hong Kong. Protests that began in opposition to a proposed extradition law have swelled to include complaints about an influx of mainland Chinese into Hong Kong and that local leaders are more responsive to the...

Clashes erupt as Hong Kong protest targets Chinese traders

Jul 23, 2019

HONG KONG — Several thousand people marched in Hong Kong on Saturday against traders from mainland China in what is fast becoming a summer of unrest in the semi-autonomous Chinese territory. Violent clashes broke out at the end of the march between police and a group of mostly young protesters who say they believe peaceful demonstrations have failed to bring about change. After issuing a warning, police moved forward to disperse the crowd with pepper spray and batons. In panicky scenes, fleeing protesters scrambled over each other, some falling to the ground. Some had donned protective masks and helmets ahead...

China imports from US plunge 31% in June amid tariff war

Jul 23, 2019

BEIJING — China's imports from the United States plunged in June amid a tariff war with Washington while exports to the U.S. market weakened. Imports of U.S. goods fell 31.4% from a year earlier to $9.4 billion, while exports to the American market declined 7.8% to $39.3 billion, customs data showed Friday. China's trade surplus with the United States widened by 3% to $29.9 billion. U.S.-Chinese trade has weakened since President Donald Trump started hiked tariffs last year on goods from China in a fight over Beijing's technology ambitions. China retaliated with penalty duties and ordered importers to find non-U.S....

Sign up now!

The Financial Capital is your independent source for finance information and advice. We provide insights and offer advice from financial experts so you can make the best decisions.

Contact us: sales[at]thefinancialcapital.com