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Buyers be prepared!
Has anyone else out there in Orange County, CA been a ittle frustrated with buyers in this market?  I have buyers in the VERY hot market of $400,000- $500,000 range of detached, single family homes that think they can still steal these listings!  It is not going to happen.  I actually had to have a serious meeting with one client that constantly wanted to bid on listings of $450,000 with an offer of $400,000 because he wanted his discount!  My strategy was to provide them with comps of closed escrows within the last 2 months, detailing the DOM, list price and selling price.  They were sold quickly, for more than asking price!  I think the reality hit.  Thier answer was they wantd a home in the $450,000 range....because they were much nicer than the ones for $400,000.
My next step was to explain to them what they needed to get an offer actually accepted in this price range.  If it was a new lising priced correctly, they needed to offer asking price, or maybe even a little higher.  Included with the offer needed to be proof of funds, current credit report, current paystubs, letter from direct lender showing they are qualified ... more

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