Some Mission Viejo Home Buyers and Sellers cry out “I don’t want to!”
If you have kids at home in Mission Viejo getting ready to go back to school, I’m sure you’ve had your fill of “I don’t want tos” around your house. As in “I don’t want to go to bed early” and “I don’t want to get up early.” If you happen to be a home buyer or seller in Mission Viejo today, you may have heard the top “I don’t want tos” in Real Estate. Here’s what I’m talking about.
From Mission Viejo sellers these days, the mantra is “I don’t want to give my house away.” Of course you don’t want to give it away. But you do have to be realistic about the current market value of your house. As in, what will a buyer actually pay for your home TODAY. Often, what sellers feel their home should sell for and what it is really worth are often two vastly different numbers. The more realistic you are about the biggest influences on home prices in Orange County, the closer you’ll be to spanning the gap between what you think your home should sell for and what it will sell for. The three biggest influences on price in today’s market continue to be location, condition, and emotional appeal. What a surprise, right? Once you have a handle how your location, condition, and emotional appeal stack up against the most recently closed sales in your neighborhood, you can get a realistic idea of the price you’ll get. Key words here are recently closed sales. Not what else is up for sale.
From home buyers the watch words are “I don’t want to get into a bidding war.” Of course you don’t. But you might end up in Multiple Counter Offer land if you really have your heart and mind set on buying a home here in the OC today. Have you already forgotten the battle ground of three years ago when it took some buyers 29 offers before they successfully got a “yes?” You can bet they didn’t want to be there either. Perseverance was the battle cry then, just as it is now. Persevere and you will be successful. And make sure you know the real current market value of homes like the one you’re bidding on. There is a difference between perseverance and beating your head against a brick wall.
And there are some really rogue buyers out there today saying “I don’t want to pay more than 80% of the list price.” Well, no matter what you don’t want to pay, this one is always going to come down to whether or not the house is listed at a reasonable price to begin with. It is still the case that most Short Sales are listed slightly below market value, REOs are listed right at market value, and Standard Equity Sellers tend to list their homes above market value.
Now let’s all get back to the battle, shall we?