GET STARTED | Get Your Fair Cash Offer Today! | Call us at 504-621-1729

The Consequences of Foreclosure in the Greater New Orleans Area

The Devastating Consequences Of Foreclosure In New Orleans For House Sellers
Going through foreclosure in the Greater New Orleans Area? This article walks you through the consequences of foreclosure and the effect it could have on you…

If you’re trying to sell your house, you might find it more difficult than you expected, especially if your home needs repairs that buyers don’t want to deal with. Inadvertently, this is one of the consequences of foreclosure in the Greater New Orleans Area.

In this article, we’ll explore some of the serious consequences of foreclosure in the Greater New Orleans Area for home sellers.

Local New Orleans Home Buyers Have Many Options But Fewer Financing Choices

Many homes are currently on the market in the Greater New Orleans area. Due to recent economic troubles and hardships, some types of houses aren’t selling as fast as they did just a few years ago. However, “sweet spot” homes (like 3-bedroom, 2-bath homes in the middle to lower-middle price range) are still selling well.

One reason is that lending guidelines have changed recently, so fewer buyers are available for some homes. There are still many foreclosed houses in the Greater New Orleans area that banks are slowly releasing into the market to sell. Because of this and several other reasons, buyers are more selective now with the home they choose, as they no longer can assume a house will appreciate by 3% or more each year.

If you’re a seller in this challenging market, you might feel discouraged and wonder how to sell your Greater New Orleans area house quickly.

If it feels like you’re spending more money to improve your home (or if you have repairs but can’t afford them), yet still struggling to sell your New Orleans home, you’re not alone. A buyer’s market can be challenging for most sellers. No one likes to see their home picked apart or devalued, but many sellers are currently facing that.

Even worse, with the consequences of foreclosure in the Greater New Orleans area, many sellers who hold out for their desired price receive little interest and no offers, sometimes leaving their house on the market for months longer than previously expected.

How Foreclosures Have Lowered Local Housing Prices

When the housing market crashed and the number of foreclosures increased, the Greater New Orleans area real estate market was flooded with homes for sale. This added inventory significantly drove down home prices because more home options were available (and at lower prices) for buyers.

When there is more inventory of homes than buyers to purchase them, the values of the homes for sale decrease drastically.

It’s still unclear when we’ll hit rock bottom and start to recover fully from this foreclosure crisis. There are many foreclosed homes in Greater New Orleans, and banks hold many more that aren’t yet for sale.

But, there are strategies you can use in this current market to achieve your goal of selling your house.

Selling Your House in a High-Foreclosure Market

If you truly want (or need) to sell your house, you have several options available:

If You Don’t Need to Sell Quickly

Get a Great Real Estate Agent: If you can afford to wait and pay the real estate agent commissions and fees, it might be best to wait for the right home buyer to come along. The real estate market has its ups and downs and will eventually start slowly improving. And if you are able to wait out to sell your house next year or later instead of right now, you might be able to get a higher price.

A great real estate agent can help you list and market your house for sale. If you need a good local agent, we can surely help!

REVitalize CTA

If You Need to Sell Quickly

Consider Quick Sale Options: Selling your house fast in this currently unpredictable market can be tough when using real estate agents. Unless you significantly discount your house, it may be very difficult, if not nearly impossible, to sell. Plus, remember that you’ll have to pay agent commissions and any other associated fees, which takes more money out of your pocket.

Another option to sell your house quickly is to sell it to a real estate investment firm or a direct home-buying company like us. We buy houses in the Greater New Orleans area and can make you a cash offer within 24-48 hours at a fair price. With us, you have options. We can help you list your house for sale on the market, or we can buy it directly from you. The choice is yours.

This can be a win-win situation. While we can’t offer full retail value, we can provide a fair price quickly without fees or commissions.

If you’re unsure which option best suits your particular needs and situation, we can help. Tell us about your situation and goals. Together, we’ll weigh the pros and cons (and the cost) of going one route versus the other. We’ll educate you on everything you need to know when selling your home on the market and selling your home to a direct home buyer. We’ll gladly answer all your questions because, after all, transparency is key!

Contact Us to Sell Your Greater New Orleans Area House Fast

If you have questions about our Greater New Orleans Area selling and house-buying service, contact us. Or call us now at 504-621-1729.


FAQ

Q: How can I sell my house fast in the Greater New Orleans Area?
A: Consider selling to direct home buyers like REvitalize Property Solutions. We offer cash offers within 24 hours and handle any repairs needed.

Q: What are the benefits of selling my house for cash?
A: Selling for cash can be quicker and more straightforward, avoiding the need for repairs and paying agent commissions.

Q: Are there any fees involved when selling my house to REvitalize Property Solutions?
A: No, we don’t charge any fees or commissions when we buy your house.

Q: How do foreclosures affect home prices in the Greater New Orleans Area?
A: Foreclosures increase the housing inventory, which can drive down home prices as buyers have more options at lower prices.

Get A Fair Cash Offer On Your New Orleans House Today

Get More Info On Options To Sell Your Home...

Selling a property in today's market can be confusing. Connect with us or submit your info below and we'll help guide you through your options.

Get Your Fast, Cash Offer Today!

START HERE: We buy houses in ANY CONDITION. Whether you need to sell your home fast for cash or list with a local agent for top dollar, we can help. Fill out the form below today!
  • This field is for validation purposes and should be left unchanged.

Call Us!
504-621-1729
Clicky