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 Thailand Tribunal

UN finds organized crime expanding in Southeast Asia

Jul 19, 2019

BANGKOK — Organized crime syndicates in Southeast Asia are flourishing in the illegal trafficking of drugs, wildlife, counterfeit goods and people, a U.N. report said Thursday. The 179-page report from the United Nation's Office on Drugs and Crime said that corruption and freer movement of people and goods have facilitated the trafficking, adding that organized crime groups in the region are becoming more mobile as they exploit areas with weak border control and use advanced logistics to move products. "Southeast Asia has an organized crime problem, and it is time to coalesce around solutions to address the conditions that have...

Thai leader names new Cabinet with military colleagues

Jul 19, 2019

BANGKOK — Thai Prime Minister Prayuth Chan-ocha on Wednesday officially named his new Cabinet, a mix of members of the military government he headed after leading a 2014 coup and key politicians who helped him assemble a majority in the House of Representatives after March elections. Prayuth will be both prime minister and defense minister in the 36-member Cabinet announced in the Royal Gazette. Democrat party leader Jurin Laksanawisit will be a deputy prime minister and commerce minister, while Bhumjai Thai Party leader Anutin Charnvirakul will be deputy prime minister and health minister. Anutin campaigned for legalization of the production...

Thai cave boys mark year since ordeal with Buddhist rites

Jul 19, 2019

MAE SAI, Thailand — The 12 young Thai soccer players and their coach who grabbed global attention last year when they were trapped in a flooded cave for more than two weeks marked the anniversary of their ordeal with a religious ceremony Monday. The boys who became known as the Wild Boars, their soccer club, took part in a Buddhist ceremony in which they gave food to monks to make merit. They then attended a news conference to talk about their lives over the past year. Chanin Vibulrungruang, 12, the youngest of the group, said he now has tell his...

Thailand's Wild Boars mark year since going missing in cave

Jul 19, 2019

MAE SAI, Thailand — When the 12 young boys and their soccer coach walked into a cave complex in northern Thailand a year ago Sunday, they didn't know their lives were going to forever change. Rising floodwater quickly trapped the youngsters inside the Tham Luang cave complex, setting off a more than two-week ordeal that the world watched with rapt attention and that left the members of the Wild Boars soccer club with a survival tale that propelled them into celebrities. Nine of the boys and their coach were on hand Sunday in the northern town of Mae Sai to...

US-China trade war, sea row in ASEAN summit spotlight

Jul 19, 2019

BANGKOK — Southeast Asian leaders will commit to conclude a long-delayed regional trade pact this year despite lingering odds to fend off risks from a protracted U.S.-China trade war when they gather for a weekend summit in Thailand. The Chinese sinking of a Philippine boat, which endangered 22 Filipino fishermen, is also expected to put the South China Sea territorial conflicts under the spotlight in the Association of Southeast Asian Nations meetings. The two-day summit gets underway Saturday in the Thai capital of Bangkok, where ASEAN was founded in 1967 in the Cold War era. Other key issues include the...

About Us

Thailand Tribunal is the country’s next generation of digital news portal, bringing you non-stop news on the happenings in the country and all over the world.

Contact us: sales[at]thailandtribunal.com