We buy houses in St. Louis but what about the nation as whole? Well, I can say it’s a great time to be in real estate where ever your specialty is. The market looks great as we will discuss the data compiled from CORELOGIC. We’ll also cover what sellers can experience when it comes to doing business with a buyer who is using financing to buy your St. Louis home. After all, most buyers will have to finance in order to complete the transaction.
Data for across the country home sales show a hike over the past year to February of this year of 6.8% when compared with February of last year. Also, when looking at a month to month view since January 2016 through February, we’ve seen a 1.1% increase giving us ‘we buy houses fast in St. Louis’ companies a bright outlook and an incentive to push forward even stronger.
Here’s the other half of the story: financing. So, everyone last year predicted rates to go up and stay up, right? Well, in the first quarter, fixed rate mortgages took another decline of more than a quarter percent in the first quarter of 2016 according to executive Dr. Frank Nothaft at Corelogic. In fact, these factors will help create an appreciation rate of 5.2%. This is great, of course, even if you sell your house in St. Louis for cash because these rates will most likely apply to you when you’re ready to buy the next home.
Corelogic also made a point concerning the drop in rates and additional employment increases as fuel for supporting a rising pace in residential purchases coming this spring causing a domino effect to continue the rise of home values. With all this great news, there are still obstacles when selling. In fact, loan requirements continue to have strict criteria which involves more paperwork than even from the seller and buyer. Appraisers are still backed up causing even more delays in home closings leaving both parties edgy up until the last minute. With that in mind, new laws and contract changes have seemed to cause more deals to fall apart despite the attractive figures we have just reviewed – all the more reason to procure the services of an investor who can buy your St. Louis home for cash.
In a nutshell, home prices are consistently rising across the country with portions of every state reporting gains compared to the last 12 months. With slim inventories and rising economic conditions there seems to be a drive for even more solid gains in many real estate markets. This is great news if you need to sell your home fast in St. Louis. As a side note, it’s an even better time to sell your St. Louis home for cash and avoid the gauntlet of the home financing process. With our expertise we can provide a seamless closing without much of the typical real estate rigmarole!