The current real estate market belongs to the sellers — they set the price and frequently get multiple contracts for a single listing.
But not always.
Sometimes people need to sell homes quickly, and look for an easy out. That’s where the city’s fix-it and flip-it businesses come in.
Why sell your home to someone who will only turn around and sell it to someone else? Brian Rudderrow, owner of HBR (which stands for Home Buyers and Renovations) shares some tips on when it might be best for companies like his buy your house.
“About 5 percent of houses on the market are inherited,” Rudderow said. “If you want to get rid of it quickly — if it’s in a different city; if it needs a lot of repairs, then selling it to a company that specializes in repairs and resell makes a lot of sense.”
Rudderow’s done that for several families in the Pikes Peak region, even investing as much as $50,000 to repair and remodel older homes.
With the region’s high number of military families, transition is a constant in El Paso County. The moves are not always announced and families don’t always get months of notice. No matter what the time frame, military families might need assistance getting their home prepared.
“If you get a promotion and need to move quickly or a new job, then selling your house without worrying about touching up the paint or caulking the bathroom, is a good idea,” he said. “We take out all that work, so it’s easier to focus on the next move.”
- Tax liens
It can happen to people — even those with the best intentions. If a family is behind on their payments to the Internal Revenue Service, then selling quickly — without investing in the home — could ease those tax concerns.
- Former rental properties
When rental properties no longer make sense, landlords want to sell. But that could mean costly repairs and remodels — things like new carpet, new paint, new hardwood floors. Companies like HBR remove the need for contractors, painters and roofers.
Even in today’s market, it’s easy to find situations that require a fast exit from a home. In business since 2015, HBR can close a house in as little as a week and provide cash up front for homeowners. Then, they can fix it up, and sell it again.
“We bought a house in Denver, fixed it and sold it,” Rudderrow recalls. “The buyer flipped it for a larger price, and then that owner also sold it immediately — for even more money. It’s definitely a sellers’ market.”
But HBR can help homeowners in other ways as well. They can become sort of a partner in the real estate — investing in properties for remodeling or renovating. When it sells, they take a piece of the proceeds for their time and trouble.
They cover the entire state as well. Most of their work is centered on Colorado’s Front Range, but they’ve taken on homes in Trinidad, Walsenberg and the Western Slope as well.
And if the market changes?
HBR is prepared for that.
“We might not make as much money for an individual house,” Rudderow said. “But there will be more inventory. We’ll do smaller deals more frequently.”
In the long term, companies like HBR perform a valuable service to families and others looking to sell homes with a minimum of personal investment.
“It’s really about helping people,” he said. “We love Colorado; we love Colorado Springs. And we want to help people who find themselves in a situation where they might not want or need to get the house move-in ready. That’s where we come in.”
To reach Rudderrow at HBR, call 719-286-0053 or go to hbrcolorado.com.