Skip to main content

5 Benefits of Selling a Home for Cash in Southern California


Southern California remains one of the most desirable places to live in the U.S., as well as one of the most expensive. This is evidenced by the housing market in California being ranked as the 3rd most expensive in the nation with SoCal having the most impact. While high housing prices and demand may cause homeowners to assume selling their homes will be easy and profitable, is this really the case?

Ultimately, the answer to this important question will depend on the specific variables involved, yet, in general, selling a house the traditional way is never easy, especially in SoCal. The good news is there are viable alternatives for selling a home the traditional way. In an effort to explain, let's examine 5 benefits of selling a home for cash in Southern California.

1. Declining SoCal Real Estate Market:


The real estate market in Southern California saw a decline in 2018 from the year before, as a 2018 article found at CNBC explains:


Southern California home sales hit the brakes in June, falling to the lowest reading for the month in four years. Sales of both new and existing houses and condominiums dropped 11.8 percent year over year, as prices shot up to a record high, according to CoreLogic.


While significant, this decline is the natural result from years of rising housing prices since the 2008 recession. Regardless, median home listing prices in SoCal are still high at $525,000 and the market is projected to rebound in the near future.

Although SoCal is still a great place to sell a home, the pendulum has swung towards a buyer's market. This means selling a home the traditional way will take longer and be less profitable, making the sell for cash option that much more appealing for homeowners.

2. Sell the Home Quickly As Is:


Homeowners might be in a position where selling their home quickly is a priority. In this case, selling the home for cash as is would be the best option. Instead of going through the traditional home selling process and waiting months, homeowners can sell their home for cash as is, typically, within weeks.

With traditional home selling processes, the typical two months it takes to sell a home in California doesn't account for the time before the house is listed. Basically, it takes additional time to get a home ready to be listed, including the time it takes for repairs, inspections, finding a real estate agent, cleaning, dealing with any tenants, and staging the home. If this time is included in the traditional home selling process, homeowners can expect to spend 4 to 6 months to sell their house.

3. Avoid the Entire Traditional Home Selling Process:


Despite what biased real estate agents and mortgage companies may tell homeowners, selling a home the traditional way isn't a simple process. In reality, it's a tedious journey full of paperwork and stress (unless homeowners can afford to hire a property management team). Essentially, homeowners must ask themselves if the potential profit is worth the time and effort it takes.

The old adage "time is money" must be considered when selling a home the traditional way, as it will take a considerable amount of time and effort to accomplish. From talking with real estate agents, conducting open houses, coordinating with inspectors and contractors, having meetings with mortgage loan officers, filling out online forms and paperwork, dealing with escrow, communicating with buyers, and more, homeowners will have their hands full throughout the process.

On the other hand, homeowners can avoid the entire traditional home selling process by selling their homes for cash as is. This method drastically shortens the time and effort needed to sell a home while still giving homeowners an acceptable cash offer.

4. Upfront Costs: Repairs are Expensive in S. California:


Having the upfront money for repairs is another challenge for homeowners, especially, in Southern California where the cost of living is so high. According to bestplaces.net, California has a cost of living index of 168.6 with the U.S. average at 100.

Most existing homes need at least a makeover for curb appeal, yet many also need repairs and upgrades for appraisals and inspections. Common home repairs and upgrades include:

  • roof replacement
  • new carpet
  • painting
  • water heater
  • appliances
  • landscaping
  • energy efficient windows
  • repaving driveways
  • structural repairs

The total amount spent from repairs and upgrades could easily reach into the tens of thousands and even hundreds of thousands of dollars for sellers, just to get their homes up to code and ready for buyers. For homeowners who don't have the money or don't want to deal with the hassle, selling as is for cash is the ideal alternative.

5. Good Cash Offer Without the Hassle:


There are both individual real estate investors and real estate investment companies that specialize in giving cash offers for homes; the quality of their services and the amount they can offer will widely vary. Suffice it to say, working with a quality service will make a huge difference with both.

When working with a quality service, homeowners may be surprised at the cash offer they receive and how easy the process was. Taking into consideration the other benefits of selling a home for cash as is in SoCal, a good cash offer without the hassle may be the perfect alternative to the traditional home selling process.

Conclusion


With higher than average home prices and strong demand, Southern California's real estate market offers both opportunities and challenges for homeowners looking to sell their homes. For many, this means selling their homes through traditional methods and trying to make a profit, yet for others, it means selling their homes as is for cash.

While both options have their benefits, selling a home for cash allows homeowners to bypass complications from SoCal's recent housing decline, sell their homes quickly, avoid lengthy traditional home selling processes, bypass expensive repairs and maintenance issues, and get a good cash offer without the hassle. Whether selling for cash is the only option or the preferred one, it is by far the easiest way to sell a home.



Comments

Popular posts from this blog

HubPages vs. Vocal

Gaining Context I opened my account at Vocal around two years ago when I published my first article. It was a syndicated article from my golf blog, which surprisingly has done better than all other articles since. Around three months ago, I decided to give Vocal a real chance with a renewed effort and by becoming a Vocal Plus member. They enticed me with half off a year’s membership ($50 for a year, usually it is $99 annually or $10/month). Since this renewed effort, I have published nine articles; six were written originally at Vocal (four were for Vocal Challenges), and the other 3 were syndicated from elsewhere. The plan for Vocal was to publish my creative writing there originally, which meant I had to switch from HubPages where these were published originally before. The distracting ads and lackluster RPM helped make this decision, although I’ve been writing on HP for over a decade. After three months of “working” Vocal, I’ve realized it isn’t worth paying the $10/month. I’ll expl

Views are Like Customers to Writers

Writing online entails considering how many impressions, views, visitors/reads, comments, shares, and reactions each article gets. These digital assets symbolize the money made from each article. How many views did that article get — that poem, story, blog post, picture, art piece? The number will determine how much money the article made. While most writers appreciate even one single read, this doesn’t pay much. On the high end, this might bring .02 cents. Usually, around half a cent, or $5 RMP. Different Writing Platforms and Efforts At Medium views don’t turn into a specific amount of money, rather they are merely an indication of possible money — reads are more important at Medium, as they correlate closely with any money made. Each read at Medium this month made me around that .02 cent mark! The reads at Medium might not be from members, so may not make us money. Still, on average, both views and reads equal a certain estimated amount for each Medium writer. At Vocal, they make it

New Book Release: Staying Optimistic While Being Realistic

  My 9th book has been published called Staying Optimistic While Being Realistic . It is a collection of 13 society articles from the perspective of a Protestant Christian, middle-aged, married, Oregonian man from Dec. 2022 until Nov. 2023. Essentially, this book is a social analysis of 2023 American culture, society, politics, and Christian faith. With an added introduction and 13 color photos, this book is 80 pages in print and around the same as an eBook. The main theme is society, specifically American society, yet drawing on the general term as a way to explore the complexities and challenges of people in terms of finding the truth of themselves and the reality around them beyond the periphery. I have a B.S. in Human Services, so this is part of my service to fellow humans. Making it easier to digest my writing efforts in hopes readers will find valuable inspiration inside that will direct their course with more stability, reason, peace, and faith in a loving God. Eventually, wit

NewsBreak vs. Medium/30-day Comparison

February was the first month for me being monetized at NewsBreak and the second month for Medium. The results are in and they are drastically different. In this article, I’ll share the details and some thoughts about them. To make this easier with how both of these writing sites show stats, let’s compare the stats from Feb. 4 to March 4, or the last 30 days. NewsBreak Articles: 20 Views: 60k Likes: 1,104 Money made: $440 Medium Articles: 14 Views: 1,734 Claps: 124 Money made: $10.75 ----------------- Although my Medium account goes back to August 2018, I’ve only started seriously writing there since early Dec. 2022 (three months ago). I started writing at NewsBreak in late Dec. 2022. Here are some stats on my overall efforts at these platforms: NewsBreak Followers: 803 Articles: 44 Medium Followers: 417 Articles: 69 -------------- While I’m grateful for any money made on both platforms, the difference is fairly drastic. NewsBreak is a place where you can actually make decent money for