Trying to Sell a Home in Florida in 2023? What You Need to Know

So, you’re looking to sell your home. The process that lies ahead may seem daunting, confusing and stressful, especially if you are a first-time seller in this housing market that saw record high prices and low inventory in recent years.

We broke down some things below you need to know before you start the journey of selling your home in 2023.

Mortgage Rates Could Continue to Flatten, But Selling Prices Shouldn’t Go Down Much

Home prices soared during the pandemic housing market boom, increasing by 40% over that two-year period. But experts predict a much cooler market in 2023. Mortgage rates have already been steadily falling after they crossed 7% in October, and they expect to remain at a buyer-friendlier level for a while.  

Mortgage rates may be more buyer-friendly in 2023, but the chronic lack of listing inventory should keep price declines at a minimum. The median U.S. home-sale price is expected to drop by 4% in 2023, although homes will remain much less affordable than they were pre-pandemic.

Inventory Remains Low 

About 75% of outstanding mortgages have rates under 4% ,which gives homeowners little incentive to sell. [1]This causes what’s called a “rate lock-in” effect, where people are keeping their homes off the market due to their locked-in low mortgage rates. This is good news for those who decide to sell! Under the current circumstances, even if demand doesn’t increase, home prices shouldn’t fall.  

Cash Is Still King 

Selling your home for cash simplifies everything and makes the process more efficient. This is even more true in the coming year. You won’t have to deal with inspections, open houses, home improvements or other red tape items that buyers who go through real estate agencies are forced to take on in order to get their house on the market and attractive to potential buyers. And because there is no lender involved, you don’t have to worry about a potential buyer’s offer falling through due to loan denials or other issues. When we make you a cash offer, it’s guaranteed.
 

Three Options for Selling Your House for Cash in 2023 

If you decide to go the route of selling for cash, you’ll still have several options for how to go about doing it:

1. List with a Real Estate Agent: When working through an agent, it could take 45-90 days or longer from the time of listing to when you have cash in hand. And you, the seller, is responsible to cover all repair costs and pay commissions, while dealing with the hassles of open houses and the stressful uncertainties around potential buyers’ offers.

2. List the House Yourself (FSBO): In this scenario, you take on all the work yourself and the process typically takes at least three months, sometimes several months longer. You’ll avoid paying commissions and other realtor fees, but that work falls your shoulders, adding stress to an already tumultuous experience.

3.  Sell for Cash to Hamby Housing: Close in as little as 14 days! You’re not responsible for any repairs, commissions or closing costs. You can even pick the closing date. No stress, no extra costs.

Ready to Sell Now? Talk to Us!

There are several reasons why you may be wanting to sell your property, and we believe that everyone deserves the chance to sell without having to deal with costly roadblocks and fees.

At Hamby Housing, we make the process of selling your house easy: You’ll get a competitive cash offer in 24 hours and won’t be responsible for any repair costs (cleaning, painting, staging or other repairs). You can close as quickly as two weeks after accepting our offer. Contact us today to get started!