Ribbon launches in Kentucky, reaching expansion milestone of 15 states

NEW YORK — Ribbon, the homeownership firm, has expanded into Kentucky, a transfer that empowers Kentucky homebuyers to make all-cash gives with RibbonCash and assure closing.

Kentucky represents a serious milestone of fifteen states of operation for Ribbon. Kentucky is the corporate’s eighth growth state this 12 months alone – on its option to half of the U.S. by the tip of 2022.

Thought of a cornerstone of the American Dream, hopes of homeownership have dwindled for a lot of within the face of rising rates of interest, on high of elevated competitors from rich buyers. On the finish of 2021, whole house gross sales skyrocketed to their highest annual stage ($6.2 million) since 2006. In January, excessive costs and the bottom stock of unsold properties (860,000 models) plagued the nation.

Dwelling gross sales in Louisville rose 3.5% in June 2022 in comparison with final 12 months, promoting for a median value of $211,000. Properties sat available on the market for 15 days – on par for a good market in comparison with 16 days a 12 months in the past when the competitors was at its peak. With excessive mortgage charges inflicting further disruption, consumers lean on actual property brokerages to get essentially the most worth for his or her buy whereas sellers prioritize certainty within the transaction.

“Patrons available in the market are swimming in opposition to a present of fluctuating prices, rising charges, and low stock,” mentioned Shaival Shah, co-founder and CEO of Ribbon. “At Ribbon, we advocate for on a regular basis individuals who need to personal a house – not buyers. We’re leveling the enjoying area by equipping consumers with essentially the most highly effective supply in actual property and dealing straight with their agent and mortgage officer of selection. Additional, sellers can really feel assured that their deal will shut, to allow them to transfer on to the subsequent chapter.”

RibbonCash Presents are assured to shut, offering sellers certainty even in essentially the most aggressive and risky markets. And in a time of fluctuating rates of interest, consumers using Ribbon can store round for one of the best mortgage charges, elevate their house buy choices, and bid with confidence for the house of their goals utilizing essentially the most highly effective supply in actual property.

As the one money supply firm that doesn’t displace the native ecosystem, Ribbon works straight with actual property professionals and lenders who stay key advocates for consumers and sellers.

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