A Good Deal in Mission Viejo for Homes for Sale
A good deal in Mission Viejo homes for sale depends on who’s looking at that deal.
Last spring, when home prices in Mission Viejo were going up on a daily basis, a good deal in Mission Viejo homes for sale to most buyers was anything remotely resembling a home they could stand to live in at a price that would beat out the seven other salivating buyers vying for that same home.
Of course, the classic definition of a good deal in Mission Viejo homes for sale is getting more and paying less. But any Realtor will tell you that definition often gets trampled by the other factors buyers will put into the Define-A-Deal O’Meter.
You can’t buy a Define-A-Deal O’Meter on QVC. I just made it up. But you kind of wish there was such a thing now that buyers can actually take a week or more to figure out if they want to make an offer.
With the number of homes for sale up dramatically since last spring’s levels and mortgage interest rates inching up, there’s been a change in the definition of a good deal in Mission Viejo homes for sale. In addition to price, things like the color of the walls, the type of flooring and the age of the appliances are once again factors that go into buyers’ assessments. They’re also evaluating location, condition, upgrades, layout/floor plan and community amenities.
We’re seeing more creative deals in Mission Viejo homes for sale. Thirty day escrows have morphed into 45 and 60 day escrows in some cases, to help sellers find a replacement property and often to help buyers avoid having to pay rent and a mortgage. That might be seen as a good deal in Mission Viejo homes for sale today.
There’s more negotiation going on after the home inspection turns up some factors that neither party knew when the original deal was consummated. Buyers no longer are afraid that asking for a credit back or a new air conditioner will cause the seller to cancel and move on to the next buyer in line. There’s been a rebound from asking for nothing to negotiating most everything.
Once the dust has settled, escrow has closed, and you’re all moved in, only you can judge of whether or not you got a good deal. And believe me, it’s a little bet tougher these days to find a good deal in Mission Viejo homes for sale.
I’m Leslie Eskildsen. Keeping it real in Mission Viejo real estate.
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