You’re ready to buy a home in Orange County.
You’ve done your research, perused your favorite neighborhoods, and spent your free time browsing MLS Listings and Zillow.
And yet, you’ve been outbid. Or just missed the final offer deadline. Or noticed a house listed online, only to call and find out there’s already a deal in place.
It can be overwhelming, deflating, and soul-crushing.
How can we take advantage of the knowledge and resources at our disposal to come out winners in such a competitive real estate market in Southern California? Because even in a sellers market, 75% of homes in Orange County sell in less than 30 days.
With temperatures heating up and clear skies ahead for the foreseeable future, we’re expecting the real estate market to do the same. That means you need to know how to position yourself at the front of the line to nab that dream home.
You’ve come to the right place.
Here are 5 things you must know about buying a home in Orange County this summer. Because knowledge is power. And power in real estate leads to you getting the keys to that home you’ve always longed for.
Use Holiday Weekends to Your Advantage
If you’re staying in town this summer, especially during major holiday weekends like the 4th of July and Labor Day, take advantage.
During these holidays, there will be plenty of homes available on the market for you to research and keep an eye on. Rather than these homes picking up 40 or 50 offers within the first week, on a holiday weekend they might see half or even a quarter of the same offers.
Pressure reduces, and a bidding war is less likely to follow, leaving you in more control of closing a deal on a home that suits your needs.
Get a Buyer's Agent
Now is not the time to focus your search solely online.
Listing websites such as Zillow and Redfin may be great for exploring potential neighborhoods and getting a feel for pricing in an area, but there is no substitute for a buyer’s agent.
The most desirable homes can be gone within days of their listings going up on these websites, leaving you and your offer behind in the dust.
And though cruising around a neighborhood looking for “for sale” signs may seem like a worthwhile strategy, chances are you’ll find homes for sale that already have a large bulk of offers on the table.
Buyer’s agents will let you know exactly when a home that fits your needs hits the market, ensuring that you get to the front of the line as fast as possible to tour and make an offer.
And if you need help interviewing agents that suit your personality, we’ve got you covered there as well.
Work Closely with Your Lender
Acting fast when the offers start flying in remains critical in securing that dream home. That’s why working with your lender and getting pre-approved must happen before you consider securing a deal.
Sellers want to work with buyers who are ready to go without any headaches during the financial process. Ensure you are ready to move as soon as your offer is accepted.
Plus, going through your options with your lender gives you more confidence that you can put forth a juicy offer for the seller.
How to Sweeten the Deal
So you’ve found the perfect home.
It’s got new cabinets and counters in the kitchen, his and her sinks in the master bathroom, and it’s even got a pool. Score!
But the listing price has you on the edge of your pre-approval amount. You won’t be participating in any bidding wars for this one.
So how do you sweeten your offer to close the deal?
Work with your agent to determine if you can waive contingencies, assess the seller’s needs to find an answer, or put down a higher payment up front. Together, you can come up with a plan to make sure your offer stands out from the rest and shows your seriousness in closing the deal, quickly.
Act Fast
“If you sleep on it, you won’t be sleeping in it.”
There is no substitute for moving swiftly in today’s competitive real estate market in Orange County. We can either let the difficulties in navigating the market overwhelm us into giving up, or we can take advantage of those who aren’t as well positioned and knowledgeable about how to move forward best.
Yes, we have limited inventory out there. But we can strike fast when we’re pre-approved and ready at all times to put together an offer.
Yes, demand remains high in Southern California. But we can do our research to know exactly what neighborhoods we want to target. So when an opportunity presents itself, we’re the first ones in line.
Yes, the number of homes sold has gone down during this time compared to last year. But that just means that only the most serious buyers win out for their dream homes.
For every potential pitfall, we have a solution to guide you along the way.
That’s why working with an experienced realtor in Orange County needs to be the first step in your home buying journey.
Recap
Though changes in the market can always happen, doing your research and staying ahead of the crowd always positions you for success.
So whether you are motivated to move this summer, or just want to be ready when the right opportunity comes, stay informed and up to date on what’s happening in the neighborhoods you desire.
Tour some open houses and learn what might be coming available next, even if you haven’t found the dream property quite yet.
We have lots to offer in Orange County. But wherever there is more opportunity, there is more competition.
Now that you have the 5 things you must know about buying a home in Orange County this summer, it’s time to act. And we’ll be right here when you are ready.
