Attention Michigan homeowners: Interest rates for mortgages are trending at the lowest rates Metro Detroit has seen in decades.
In September 2020, the average interest rate on a 30-year fixed mortgage recently dropped all the way to an unheard-of 2.9%.
Of course, nothing is as constant as change, so it’s hard to know how long that is going to last. But one thing’s for sure: There has never been a better time to buy a home in Michigan.
Have you been thinking about upgrading to a bigger home – or downsizing to something simpler? Moving to a new school district or a neighborhood closer to your job? This is the perfect time to take the plunge.
Most likely, moving means selling your current home. How can you do that quickly, and for a fair price? At Mitten Made Properties, we’ve worked with Metro Detroit home sellers for a long time, and we can help you understand your options.
Option 1: Hiring a real estate agent
When you sell your home the traditional way, a real estate agent will list your home and bring potential buyers through for showings until they find one who wants – and qualifies – to buy it. It’ll take an average of 65 to 93 days to find a buyer and close the deal this way. Plus, you’ll need to repair, update, clean, and stage your home. This can take a lot of time, money, and patience. But it’s always an option.
Option 2: Selling your house yourself
If you want to avoid paying a real estate agent up to 6% commission on the sale of your home and handle showings, negotiations, and all the paperwork yourself, then you might list your property as “for-sale-by-owner.” You can sometimes make a little more money this way, but you’ll still need to clean, update, and repair your home. It’s also important to note that the average time on the market of for-sale-by-owner homes is 68 days longer than realtor-managed listings – more than four months at minimum.
Selling to a Professional Home Buyer
At Mitten Made Properties, we can purchase your home as-is for a fair cash price. There are no appraisals, inspections, repairs, showings, commissions, or fees. You don’t even have to clean it. Because we pay cash and aren’t reliant on bank financing, we can close in as little as 7 days. We’ll even pay all closing costs! Give us a call at (248) 883-3340 to learn more and get your no-obligation cash offer.