Today, while researching properties for a buyer I came across a listing that piqued my interest. The reason I decided to look further at this particular property is that it was priced at nearly double the asking price of any property in the development. The description suggests that the property is "A Must See" and that needs to be taken literally rather than figuratively...Why? Sadly, after 34 days on the Multiple Listing Service there is "No picture available". Here's what prospective buyers of this property saw on MLS:
GREAT REMODELED UNIT; NEW KITCHEN, BOTH BATHROOMS, NEW FLOORING, NEW PAINT, NEW WINDOWS, --- A MUST SEE !!!!!!! 3 LARGE BEDROOMS, MASTER BEDROOM WITH PRIVATE BATHROOMS, 2 BATHROOMS, PRIVATE PATIO, ---------------------- A MUST SEE !!!!!!
In today's market, people rarely sell because they want to. There is typically a need that causes them to put their property on the market. It may very well be that this seller needs the price they are asking. But it would be very surprising that anyone would even look at this property that appears to be so overpriced. Even if someone decided to look at it and make a full price offer (pretty much a long shot, but let's just say it happened) the buyer would need to be prepared to pay cash or pretty close to all cash to get it to close escrow. There simply is no loan available for overpriced properties. The buyer would need to come in with cash to cover the gap between the loan amount and the purchase price.
The simple truth of the matter is when hiring a real estate agent, which would you prefer?
- Are you looking for an agent who tells you what you want to hear or a real estate agent who knows the current market and tells you the truth about what your home should sell for?
- Are you looking for a real estate agent who will actually market your home or a real estate agent who does the minimum and of just placing a sign on your property and a cursory job of putting your property on MLS?
The agent you choose to represent you is a critical factor in how quickly your home is going to sell. The speed of the sale becomes one of the most important factors to consider when home prices are in a downward trend. To avoid becoming an example of what not to do when hiring a real estate agent ask good questions during the interview with your prospective agent. For a list of questions to ask your real estate agent during the interview, email me and I'd be happy to email you a great set of questions to ask your prospective agent.
If you or someone you know is thinking about buying or selling a home in Orange County California it would be my pleasure to work alongside to help. Helping you achieve your goals and dreams is what I get to do...it's my profession and my joy...I'm here to help!
Marlene Bridges, REALTOR®
800 777-1775 - Toll Free ~ or ~ Text Me 714 745-2592
SRES - Seniors Real Estate Specialist®
CRS-Certified Residential Specialist®
President - Laguna Hills/Laguna Woods Chamber of Commerce 2007-2009
President Elect - Southern California Chapter Certified Residential Specialists® 2008 - 2009
Marlene is an experienced and respected South Orange County CA REALTOR® specializing in residential Real Estate and the sale of Homes and Condos in South Orange County, California and Saddleback Valley cities of: Laguna Woods (formerly Leisure World), Laguna Hills, Laguna Niguel, Laguna Beach, Rancho Santa Margarita, Lake Forest, Dana Point, San Juan Capistrano, San Clemente, Aliso Viejo, and Mission Viejo.