It’s hardly a secret that, for the past few years, the real estate market has been booming here in the United States. As more people want to purchase (and sell) property, though, the market starts to get a bit more complicated. Navigating it right now can be a real challenge.
In a lot of instances, this is why property owners have started looking for third parties to assist with the process. For example, one might look for a tagline like “we buy houses in Fayetteville, NC” or similar. What does this really mean, though? Is it worth working with a company like that?
Today, we’re here to explore those very questions. If you want to learn more about getting cash for your property quickly or the real estate market here in North Carolina in general, make sure to stay tuned.
Real Estate in NC: Current Status?
As you can probably imagine, no matter what state you’re looking in (or country, for that matter), the general state of the real estate market will depend greatly on region, timing, and what type of property you’re looking to purchase or sell. Still, let’s look at the state on a general level.
Statewide Trends
Here in North Carolina, the price of housing is relatively affordable. In most places, including Fayetteville, the median price of a home is around two hundred and forty thousand dollars. Obviously, this is still pretty expensive, but compared to some parts of the country, it’s relatively affordable, especially when you consider that it has three bedrooms and two bathrooms (in the data, at least).
In addition to that, when we look at the statewide inventory for homes for sale, it’s around three-to-four months. This is considered a healthy market with a healthy timeline. If you want to operate faster, that’s where those third parties we mentioned earlier can come into play, which we’ll be covering further in the next section.
Finally, when we examine the general rate of sales, we can see that the numbers have been increasing ever since 2020. There’s been a small dip during that year due to the pandemic, but since then, the state has seen a lot more action in the market.
State of the Market
The other thing we’d like to look at is the general state of the market at the moment. Something of note is that the interest rates are generally pretty low, which encourages buyers to put in offers. However, there are a lot of properties on the market right now – making inventory high.
Thanks to the high inventory, buyers have a lot of options. However, sellers may find that things are a bit slower than they wanted. While it’s a seller’s market in parts of Charlotte, that isn’t necessarily the case here in Fayetteville.
Third-Party Assistance
Sometimes, we want to sell a property quickly without having to worry about some of the intricacies, as you can see here: https://www.mdpi.com/2071-1050/6/6/3975. When this is the case, there are a few options available to us. However, we’ll be focusing on third-party real estate buyers and sellers.
The idea is that the company will purchase a property from a seller for cash, set at one up-front amount. The process is fairly simple, too, which is why it appeals to so many different people. How does it work, though?
Getting Started
Once you decide that you want to get a cash offer on your home, initiating the process is as easy as finding a company and submitting a request. There are plenty in the area, and the resources we’ve provided may help you find a starting point as well.
From there, the company will likely want to visit the property to get an idea of what to expect as well as to help determine how much it’s worth. This isn’t the same as an inspection from a traditional buyer, though; these companies will purchase the property no matter what state it’s in.
Why Take This Option?
As convenient as this process is, you may still be wondering why it’s something that appeals to so many property owners. There are a lot of situations that could call for these sorts of solutions, such as if you’ve inherited a property you don’t want, you’re already on the brink of foreclosure, you’re holding onto a property that’s vacant, or if you’ve got a property that requires a ton of time and effort that you can’t dedicate to at the moment.
Those are really just a few examples, though. Overall, no matter the case, this is an option to consider. After all, the process is easy, stress-free, and as long as you work with a reputable buyer, they’ll be transparent about what you can expect along the way. Hopefully, this guide will help you navigate the real estate market here in North Carolina!