Today’s Mission Viejo, Coto de Caza, and Rancho Santa Margarita Real Estate Market Conditions

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Today’s Mission Viejo, Coto de Caza, and Rancho Santa Margarita Real Estate Market Conditions

Unusual Mission Viejo, Coto de Caza, and Rancho Santa Margarita real estate market conditions produce unusual behaviors in buyers, sellers, and Realtors.

When the Mission Viejo, Coto de Caza, and Rancho Santa Margarita real estate market conditions gets to the point where there are less than 4000 homes officially listed for sale, there are more  than 8000 qualified buyers and more than 40,000 licensed Realtors trying to make a living helping you wonderful Mission Viejo, Coto de Caza, and Rancho Santa Margarita people buy and sell homes, you’ll have to agree this is an unusual condition.  Now, I’ve only been making a living helping Orange County buyers and sellers for the last 13 years, so I haven’t seen all of the Mission Viejo, Coto de Caza, and Rancho Santa Margarita real estate market conditions roller coaster twists and turns, but I’ve seen my share in my tenure on the big OC thrill ride.  And this prevailing low inventory condition has put a new hitch in just about everyone’s giddy up.  Mine included.  Here are a couple of behaviors I’ve learned from my clients, colleagues, and competitors.  Just in case we happen to meet.

Seller Tactics – Oh to be in the ever-so-coveted driver’s seat.  Sellers in Mission Viejo, Coto de Caza, and Rancho Santa Margarita today can demand buyers’ remove their appraisal contingency,  deny making any repairs, and give as few at 18 hours to schedule a home showing until offers are due and if you are late to that party you are SOL – which we know from last week means Sorrowfully Out of Luck.  Sellers today are also demanding 3% of the offer price as an initial deposit, when the traditional rule of thumb has been 1% of the offer price.

Buyer Tactics – More often now than ever before, buyers are playing Realtors off against one another.  Shocking, I know, but desperate times call for desperate measures.  Buyers are looking for a leg up, a way in, or an inside tract anywhere they can get it.  They’ll walk into an Open House and beg the listing agent to help them make the winning offer – even though another Realtor has been representing them for the past month.  They have three or four Realtors working on trying to be the first ones in on any new listing.  And beg for any pocket listing that Realtor or anyone in their office might have. Unusual conditions create unusual behavior.

Realtor Tactics – This new tactic is actually so old school I’ve never ever done it up until about three weeks ago.  Because look at me  – Mrs. Twenty-First Century Realtor with my IDX Home Search, three websites, a rocking blog, and 1500 Facebook Friends.  As it turns out, that’s not enough anymore.  Now it’s all about door to door sales. Literally.  I’ve been walking up and down the streets in the neighborhood s of my clients’ dream home.  The streets upon which the house sits that they and eleven other hopeful buyers lost to one successful bidder.  As in walking up to the door, knocking , asking if the owner knows what’s happening to prices on their street, and would they be willing to sell or do they know someone who would be.  Unless, of course, there’s a “No Soliciting” sign – which I totally respect.  Although, you NS people may want to take your sign down for the next couple of months in case a great offer comes knocking on your door.

And here’s a rare insider tip – if a Realtor comes knocking on your door, claiming to have a buyer for your house, believe her.  Because even if her buyer has already bought another home, there are still ten other unsuccessful Mission Viejo, Coto de Caza, and Rancho Santa Margarita bidders out there looking for a house just like yours.

I’m Leslie Eskildsen.  949-678-3373

Call me.  949-678-3373

Text me.  949-678-3373

Email me.  Leslie@LeslieEskildsen.com

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