Friday, 15 December 2017

Orange County Housing Market

Written by Posted On Monday, 19 June 2017 15:51

 

When is the best time to sell a house?

This answer can be complicated (depending on price, city, market, etc.) but in Orange County typically the best time to sell your house is in April or May.

The weather is great, tax seaon is over and people aren't on summer vacation yet, so open houses can still draw a crowd.

Most importantly you want to find a good listing agent that can teach you all this stuff and actually earn their commission.

 

Getting your house ready to sell

Although there can be hundreds of things to do in order to get your home on the market, there are a few crucial things to worry abou.

Mainly you need to make sure your house physically is ready to potential buyers to see, is it clean, lawn mowed, small repairs done, etc?

Nobody wants to walk into a home in Newport Beach with a price tag over $1 Million and see a house in need of repairs.

In addition you want to research the market so you know what price to list at, even though your realtor will help, be sure to educate yourself.

And most importantly be ready to move, you might get an offer the first weekend.

 

Do you need to hire a real estate agent?

People do sell their homes now all the time without a listing agent, and they can save a little commission.

This is called FSBO (for sale by owner), but the problem is there can be a lot of work you'll have to do.

The biggest hurdle in selling your own home, is are you a good sales person and negotiator?

Because once offers start coming in you will have to deal with the buyers agent and negotiations.

 

Is a condo a good investment long-term?

The main reason that people buy a condo (make it easier on yourself) is that price wise they can't afford a home.

For example in Huntington Beach CA, a 3 bedroom condo 1 mile from the beach could run $510,000.

But to buy a house in that same neighborhood that is also 3 bedrooms might cost the buyer closer to $700,000.

In the end though a condo is a good investment if it's in a good area and the community is well kept.

Always be sure to research the HOA before you make an offer to buy anything.

Condos usually offer great amenities like tennis, spa, pool, etc., that many homeowners can never afford to install.

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