I get a lot of calls from people who are trying to decide whether to list with a Realtor or sell to a Real Estate Investor.  It really just depends on the situation.  There are advantages to both.  People are worried that it may take months to get their house sold, and for good reason.  The housing market in Amarillo is not as bad as some parts of the country, but it is not as good as it used to be.

But there has been some good news recently in the housing market.  CoreLogic reported that home prices fell again in February, but the price drops appeared mostly with distressed sales–short sales and bank-owned homes, otherwise known as REO properties. Excluding these, the CoreLogic index was essentially flat, down just 0.1% versus a year ago. Their Chief Economist commented, “When you remove distressed properties from the equation, we’re seeing a significantly reduced pace of depreciation and greater stability in many markets.” During the month, 6 out of 10 of the country’s biggest markets saw home price APPRECIATION in non-distressed sales.

So what does this mean to the average homeowner in Amarillo TX?  Well, to me, this says that there are really two housing markets.  One for pretty houses and one for houses that need work.  I say this to people over and over.  If you have a house that is in good condition, in a good neighborhood, and you have months for it to sell, then listing with a Realtor is the way to go.  Keep in mind that you will end up paying around 6% in Realtor fees, about 1% in your closing costs, and usually 3% in buyers closing costs.  You will probably get hit with a list of repairs that you will need to make.  You will have holding costs for the time that it sits on the market.  But in the end you will come out ahead.

But what if you have a house that needs work and you can’t afford to make the repairs?  What if you can’t wait for months for it to sell?  That is when it may be best to sell to an investor.

When the housing market was at its peak, distressed properties could be sold without too much trouble.  But now mainly because of Foreclosures the market is flooded with ‘fixer-uppers.’  Whereas before distressed houses were hard to find, now they are on every block.  This makes it very difficult to sell a distressed property on the open market.  Now there is fierce competition in this segment.  As banks keep discounting these properties in order to get them off of their books, the market just keeps getting softer.  That is why it makes sense to get an offer from an investor.

We are a local husband and wife team who specialize in buying houses in the Amarillo area.  Why should you work with us?

1. We are super easy to work with! We make sure you understand all of your options.
2. We pay cash!  You don’t have to worry about long drawn-out bank approvals.
3. We close whenever you want! You are in complete control.
4. We buy property in as is condition. You don’t have to fix anything or clean anything!
5. We don’t put a sign in your yard and try to sell your house to other buyers. WE BUY IT!

If you have a house that needs a lot of work, or you have a house that you need to sell fast, call us today at 806-359-7653 or visit us online atAmarillo Real Estate Investors.