As of February 2022, the number of houses for sale in Louisville fell by less than half of the number of listings twelve months ago. The drop reflects a major decline in available homes that has been occurring since early 2020. The primary reason for the drastic reduction in homes for sale has been the COVID-19 pandemic, which has triggered a massive shortage in building materials and labor.
However, even with the 2022 house shortage, there is no guarantee that you will sell your house how or when you want. Why? Because many of the homes that are selling in Louisville are what you would call âmove-in ready.â They are in excellent condition and require little prep to sell. As a result, if your house has some problems, buyers may pass over your house in favor of a better deal.
Why You May Not Be Able to Sell Your House During A Housing Shortage.
You may be wondering why you canât sell your house when sellers around you are finding buyers. There are several possible reasons why.
- Your house is damaged, vacant, or outdated.
- There may be legal action pending against your property.
- The property needs a lot of work and repairs.
- Your asking price doesnât reflect the homeâs appraised value.
- The property is in a part of town where buyers donât want to live.
- Your house didnât pass inspection.
Buyers today want a move-in-ready home that has no problems attached to it. They simply want to get the loan, sign the papers, and move in as quickly as possible. If they perceive that your house has any issues, they will often hesitate to even look at the property in favor of a better situation.
Fortunately, There Is a Way to Sell Your House Fast in Louisville, Kentucky
If you are looking for an alternative to a traditional home sale or have problems selling your house on the market, there is still a way to beat the competition during the 2022 house shortage. You can sell your house as-is for cash to a company that buys houses in Louisville, Kentucky.
The transaction is known as a cash sale and allows you to bypass the real estate market altogether. When all other home sellers are hiring real estate agents and competing with each other, you simply sell your house for cash directly to the buyer. A cash sale works like this:
- Contact a company that buys houses in Kansas.
- The company does a walkthrough of the property.
- The buyer may also appraise your house based on several factors.
- If the buyer likes your property, they make a fair cash offer.
- You accept the offer and sell your house.
- You and the buyer meet to close the sale.
- The buyer gives you a check or makes a money transaction as payment.
One of the benefits of a cash sale is that you can sell your house as-is regardless of its condition or your current situation. Companies that buy houses work with sellers in all types of circumstances such as bankruptcy, foreclosure, probate, divorce, new job, or damaged house.
The Real Estate Market Doesnât Affect the Sale of Your House
The market is unpredictable. This year itâs a sellerâs market due to the shortage. Next year it may be a buyerâs market. Or, the market could crash for several months and then skyrocket the next. As a seller in a unique situation, you canât depend on the market to sell your house fast. Thatâs why a cash sale may be your better option.
Since a cash sale is a private transaction with a pre-qualified buyer, you donât have to list the property, stage the house, show the house to multiple buyers, or negotiate a sale price based on the market. Plus, you donât have to go through a long closing process. Most cash sales can be completed within seven to 21 days of the cash offer.
Get a Cash Offer From We Buy Real Estate
If you canât sell your house, or youâre looking for an alternative to a traditional home sale, contact We Buy Real Estate. Let us make an offer on your home and pay cash. We buy houses as-is in Kansas. Call 502-458-2722 to get a guaranteed offer.