Despite the claims of the media that this is a buyers’ market and that sellers are begging buyers to come buy their homes, Orange County proves the old adages that real estate is local and that it’s all about location, location, location.
Two years ago, a buyer might have had his pick of a $500,000 Orange County home and had the time to ponder his choices for several days before making a decision and been pretty certain that his final choice would still be available to purchase.
Today, it’s a whole different ball game. If a buyer ponders too long on a well-priced home, he can expect that it will have already received multiple offers, often over list price. Doesn’t sound like a buyers’ market to you? Well, you’re not the only one.
Many buyers who are just starting to look for an Orange County home, are discovering the truths about the current market.
When considering that the price range under $1,000,000 accounts for over 91% of the sales of Orange County homes, it becomes even more apparent that the Orange County homes market for this price is red hot making homes even harder to attain in this market.
So, if you want to take advantage of the low prices and historically low interest rates that are currently available for Orange County homes, what can a potential buyer do?
First, be patient and persistent.
Then, stay tuned for my next post on how to purchase an Orange County home in today’s market or call me at 714.319.9751 for an immediate action plan.