Is Your Mission Viejo Real Estate Glass Half Full or Half Empty?
Perception is everything when it comes to navigating today’s Mission Viejo, Coto de Caza, Laguna Niguel, and Rancho Santa Margarita real estate market
So like everything else in life, you have choices – particularly regarding how you respond to the circumstances surrounding you. Here are a couple of the most important choices Mission Viejo home buyers and sellers have to make in today’s tight real estate market – where there are so few homes to choose from and interest rates are historically low.
- Are you avoiding a bidding war or are you implementing a proactive offer strategy? It’s all about your spin on the situation. The bottom line is, if you are looking to buy a home between $200,000 and $700,000 in communities like Rancho Santa Margarita, Mission Viejo, Coto de Caza and Ladera Ranch today, you will more than likely be in a multiple offer situation. Call it a bidding war if you want, but that’s taking the victim’s position – a totally glass half empty mind-set. On the other hand, anticipating multiple offers and taking a strategically proactive approach is a glass half full mentality. How quickly can you get your offer in? How high are you willing to go on price? How much are you willing to offer as an initial deposit? How quickly can you close? Can you offer the seller a rent back if they need more time?
- Are you stuck on the half full soap box that you’ll never, ever pay more than the list price? Or are you willing to study the comparable homes sales to realize that the home was priced below market in the first place, and that a bidding war was their intent? Or have you filled up your cup and sharpened your pencil and done the math to see what the difference in monthly payments would be if you bought now when money is practically free, as opposed to waiting until rates creep up?
- Are you stuck looking at a list price below what you had hoped for because two bombed-out REOs are the only comparable homes in your neighborhood? Or are you filling up your file folder with a list of upgrades, improvements, features, and qualities that set your property apart from the comparable sales to support a higher price – numbers that the appraiser will be able to use to justify a higher price? Yes, the appraisers have gotten especially tight with the clamp down in lending restrictions, but they are used to accounting for your home’s unique assets when they render an opinion of price.
- Are you whining in your half empty wine glass because you only got two offers and neither one of them is all cash? Or, are you meticulously looking at each and every one of the deal points and filling up Counter Offers deigned to get you the best possible outcome?
Answers to these and other important questions will help you form a strategy to navigate the current market. How do you spin it? Just like everything else in life, it’s up to you. Happy Thanksgiving, which ever way you call it.
I’m Leslie Eskildsen. Just keeping it real in Mission Viejo Real Estate. Call me 949-678-3373. Text me. Email me. Fill out this form.