Selling homes in Orangecrest Riverside has changed dramatically in the last several months. The pendulum is shifting and it is once again a seller's market, (for now!) Three types of sales dominate the market. Standard sales, short sales and bank owned sales. Last month's sales reflected a even distribution between all three types.
Despite the fierce competition among buyers selling homes in Orangecrest Riverside continues to be strategic process and seller's aware of the formulas are witnessing multiple offer situations, bidding wars and above list price sales. Standard seller's are homeowner's who posses equity (the current market value is greater than what is owed on the property.) When the property is marketed correctly and strategically introduced to the public a buzz is generated. Homes that show well - meaning the home has been decluttered and depersonalized - allows a potential buyer to enter the doors and immediately imaging themselves living within the home.
Short sales are homeowner's selling homes in Orangecrest Riverside who owe more on the property than the current market value. With the changes implemented in June the expectation is that the short sale process will improve. The timelines for bank decisions should improve resulting in faster transactions, a reality which has forced many buyers away from the short sale transaction. Short sale homeowner's need to have an experienced agent listing their home and negotiating with the banks to ensure a smoother transaction. It is advisable for the homeowner's to show the home well, minimally a clean neat home will attract more buyers. Also allowing buyer access to the home is critical.
Lenders are selling homes in Orangecrest Riverside. Bank owned properties or REO's are properties which have moved through the foreclosure process and returned to the Lender. Sometimes the properties are improved before going on the market. Carpets maybe cleaned a fresh coat of interior paint maybe applied. In other situations no improvements are made. Often these homes maybe priced slightly under market, 5% or less. However they too are generating multiple offers when the pricing is low enough.
Selling homes in Orangecrest Riverside presents a great opportunity for sellers now. The low inventory has generated a seller's market however a knowledgeable Realtor (like me) is definitely an assest in terms of assisting the homeowner negotiate the best deal! Call me for a consultation, I can help you take advantage of this market and negotiate the best deal for you.