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

Hip-hop star Nicki Minaj to perform in Saudi Arabia

Jul 16, 2019

DUBAI, United Arab Emirates — Saudi Arabia said Wednesday that hip-hop star Nicki Minaj will perform in the ultraconservative kingdom as it sheds decades of restrictions on entertainment. The female rapper is known for her outlandish, provocative style and hits like "Anaconda," where she raps about her "big fat" backside. Her lyrics are often laced with profanities and her skin-bearing music videos often include twerking. Christian groups criticized her 2012 Grammy Awards performance, which included dancing priests and an exorcism. Saudi organizers announced she would be the headline act at the Jeddah World Fest on July 18. The concert, which...

Indian theater and film personality Girish Karnad dies at 81

Jul 16, 2019

NEW DELHI — Girish Karnad, a top Indian playwright, actor and director and a rights activist, died Monday after a prolonged illness. He was 81. India's president and the prime minister expressed their condolences over Karnad's death at his home in Bangalore, the capital of southern Karnataka state. The family did not elaborate on his illness. A renowned theater personality, Karnad worked predominantly in South Indian cinema and in Bollywood. He was a Rhodes scholar in the 1960s and earned a master of arts degree in philosophy, political science and economics, the Press Trust of India news agency said. President...

Turkey's Erdogan witness in footballer Mesut Ozil's wedding

Jul 16, 2019

ISTANBUL — Turkey President Recep Tayyip Erdogan was in the wedding party as Arsenal midfielder Mesut Ozil tied the knot on Friday. State-run Anadolu news agency said Erdogan and his wife, Emine, were legal witnesses for Ozil, who married model, actress and former Miss Turkey Amine Gulse in Istanbul. Secular Turkish weddings require a witness each for the bride and groom. Ozil, a German player of Turkish descent, quit Germany's soccer team last year after he was criticized for posing for a photograph with Erdogan before the World Cup. In his international retirement announcement, Ozil accused the German football federation,...

Ramadan in Mideast is for fasting and Facebook, data shows

Jul 16, 2019

DUBAI, United Arab Emirates — The Muslim holy month of Ramadan, with its long days of fasting and prayer meant to draw worshippers closer to God and away from worldly distractions, is being reshaped by technology. People in the Middle East spend close to 58 million more hours on Facebook during Ramadan and watch more YouTube videos — everything from beauty tips and recipes to sports and TV dramas — than any other time of the year, making the holy month not only the most important one for Muslims, but also the prime time of the year for advertisers. For...

Pakistani waiter finds fame as 'Game of Thrones' look-alike

Jul 16, 2019

RAWALPINDI, Pakistan — Until recently, a Pakistani waiter working in a small cafe in the city of Rawalpindi knew nothing about the TV series "Game of Thrones" — or its antihero character played by U.S. actor Peter Dinklage. But now, 26-year-old Rozi Khan has customers asking to have selfies taken with him and fields constant questions about his uncanny resemblance to Dinklage, 49. The American actor has played Tyrion Lannister, a witty and wily nobleman, since the series began in 2011. People even stop Khan on the streets, he says, also for selfies. Khan does not only have a similar...

About Us

Get all the up-to-date breaking news about politics, business, entertainment, sports, lifestyles, weather, traffic, and local news in a seamless digital environment only in Morning Dispatcher.

Contact us: sales[at]morningdispatcher.com

Subscribe Now!

Quick Links

HomePress