Your Home Sold Guaranteed Realty — The Nathan Clark Team

Realtor Tips to Sell a Home in Pawtucket During a Housing Crash

Selling a home can always be stressful. However, to sell a home in Pawtucket during a housing crash, you will face unique problems. These unique problems need unique solutions. That’s why at Your Home Sold Guaranteed Realty – The Nathan Clark Team we’ve created this simple plan to help your real estate journey be a success. 

Your Home Sold, Guaranteed When You Work With Us

The expertise of a local realtor has never been more important than right now. A Pawtucket realtor has the localized knowledge you need to sell a home in Pawtucket during a housing crash.

Another benefit of working with Your Home Sold Guaranteed Realty – The Nathan Clark Team is that we don’t just talk about selling your home – we guarantee it will be sold. With our Guaranteed Sale Program we take the guesswork out of selling your home. We guarantee that your home will sell for a previously agreed upon price in your timeframe. If not, Nathan Clark will buy it himself. What’s more is that you agree to the price and timeframe which you receive upfront and in writing which acts as a security net that protects you from market conditions. 

What is a Housing Market Crash and How Does it Affect Home Sellers?

You’ve probably heard of a housing market crash and read about the devastating consequences some homeowners faced in the past. But what exactly is a market crash and how will it affect your home sale?

When the market experiences a condition known as a housing bubble this means that prices for homes rise dramatically. This rise is because of a mixture of high demand, low supply and favorable interest rates. 

These bubbles typically precede a market crash where the conditions of the market become so unstable, the housing bubble bursts. A rise in interest rates is the usual culprit that brings on a crash. These crashes can be on a local or national scale and may or may not be an indicator of the economy’s overall health. 

What We Learned From the 2008 Housing Bubble

The last time there was a housing bubble that burst was 2008. The bubble bursting led to the Great Recession that same year.

The housing market had been booming from the early 2000s through 2006, when housing prices started to decline. In December 2008, there was the largest price drop in history.

Because of this drop, many homeowners were unable to pay their mortgages. In some extreme cases, their homes were worth less than their mortgage. These led to a rise in interest rates which caused many foreclosures. This rise in foreclosures led to a recession. 

Is a Housing Crash in Pawtucket Possible?

Because of high interest rates and an increase in inflation, many homeowners are worried about a housing crash.

However, most real estate experts agree that a housing crash is not in the near future because demand is still high while supply is low and lenders have stricter lending requirements.

iBuyers and the Possibility of a Housing Crash

An iBuyer is someone who buys a home as-is directly from the seller. They then fix up the house and flip it, selling the now-renovated home for a profit. These buyers have the power to influence the local market because they sell the flipped houses at prices that are hard for regular home sellers to match. 

It’s important to discuss with a realtor if you are concerned about the impact that iBuyers have on the local market.

How to Sell a House During a Housing Crash

Here are some simple tips to help you navigate how to sell a home during a recession. 

Price Your Home To Sell

Pricing your home to sell is more important now than ever. If you price your home too high, you will miss out on homebuyers who are looking for affordable homes. If you price it too low, however, you could miss out big on potential profits. 

To price your home to sell, work with an expert realtor who can help you determine what price is appropriate for the climate and will net you the most profit.

Have Your Home in Move-In Condition

Another way you can prepare your home to sell a home in Pawtucket during a housing crash is to make sure your home is in move-in condition. Because homebuyers don’t have the extra cash to renovate or make repairs, doing these things yourself will make your home extra attractive to potential homebuyers. While a realtor can point out specific things in your home, it’s always a good idea to get a home pre-inspection and make necessary repairs yourself. You can also hire a professional cleaning company and make sure that the paint and decor items are in neutral colors.

Sell at the Right Time

If you can, it may be best to wait until after the recession to sell your home. If you can’t wait, however, work with an expert realtor who can help you do a comparative analysis of homes in the area, so your home is as competitive as possible.

Selling and Buying at the Same Time

If you need to buy a home after selling your current home, timing may not be as crucial. If you sell your home for a lower price during a recession, you should be able to purchase a home for a lower price as well. As the economy recovers, you’ll be able to sell the new home at a higher price than what you purchased it for.

Sell a Home in a Housing Crash With Nathan Clark

Overall, the best tip to selling a house during a housing crash is to use an experienced realtor to navigate the uncertain waters of the market. At Your Home Sold Guaranteed Realty – The Nathan Clark Team, we have the experience and expertise you need to sell your home regardless of the market. 

For more information on how we can help you sell your home and about our home seller guarantees, give us a call at 401-288-3557 or fill out the form below.

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Nathan Clark $ 39 Cedar Swamp Rd, Smithfield RI 02917 401-288-3557

#1 Home Valuation Expert in the Area
#1 Real Estate Team in Rhode Island
Ranked Top 100 Real Estate Teams in the U.S
Source: Real Treads - Wall Street Journal

401-288-3557