Finding Your Dream Home – Home Long Will it Take?

By
Real Estate Agent with Realty One Group - www.FindCARealEstate.com BRE# 01708749

Orange County HomesIf you are in the market to buy an Orange County home you are not alone! Buyer demand is very high and inventory of available listings is low which means it may take some time to find and ultimately buy your dream home. Just how long could it take? A recent survey conducted by Harris Interactive indicates that 33% of people searching for a home have been searching for more than a year. The good news is that the remaining 67% found a home in less than 12 months.

 

As an Orange County Realtor, I am certainly seeing very similar buying experiences in our local market. The rebounding real estate market combined with low interest rates has created a buying frenzy. Couple this with the fact that we started the year with inventory levels down over 60% from the previous year and the challenge to buy has gotten much tougher. It is still a great time to buy with interest rates still very low and prices still well below their peak values.

 

Buyer Tips to Shorten Time to Buy:

 

·         Mortgage Preapproval/Prequal – ensure you are preapproved for a mortgage before you start looking. You can’t make an offer unless you are preapproved or prequalified so get this in place as soon as possible.

 

·         Partner with Your Realtor – this is not a market to go it alone – partner with the real estate agent of your choice who will put you in front of the right homes on the day they are listed. The best homes have offers in the first couple of days – by the time you see a listing on the internet and figure out how to view it will most likely be too late.

 

·         Willingness to Compromise – you will simply not find the “perfect” home. Being willing to compromise if a home meets most of your needs is essential. No Pool? You can put one in. Outdated baths? Update them. If you can’t compromise you may very well fall into the 33% category that is searching for more than a year.

 

·         Make Good Offers – make your offer with the understanding that there will most likely be multiple offers. In certain price ranges it is almost guaranteed that homes will receive multiple offers so make your best offer and limit contingencies as much as possible. Buying is extremely competitive and you need to stand out from the crowd. Your real estate agent will help structure the offer in a way that will help you compete and hopefully get acceptance. 

 

·         Once Accepted – congratulations! Complete your inspections and due diligence and remain professional and easy to work with at all times. In the current market there is a very good chance that sellers have backup offers that are a phone call away. Closing escrow is your focus and goal!

 

 

If you are looking to buy a home in Orange County I would welcome the opportunity to work with you. I am the Broker Owner of Ventana Coastal Properties and can be reached anytime at 949-500-0484 or via email at dave@ventanacoastalproperties.com – I look forward to your call!

 

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David Grbich | Broker - REALTOR® | 949-500-0484

DRE #01708749

 

 Please visit my website www.FindCARealEstate.com to Search Orange County Homes for Sale

 

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San Juan Capistrano Real Estate | San Juan Capistrano Homes

David Grbich is the Broker Owner of Ventana Coastal Properties, a leading real estate brokerage serving the needs of Orange County buyers and sellers. Orange County real estate experts serving Aliso Viejo, Costa Mesa, Coto De Caza, Dana Point, Huntington Beach, Irvine, Ladera Ranch, Laguna Beach, Laguna Hills, Laguna Niguel, Lake Forest, Mission Viejo, Newport Beach, Newport Coast, Rancho Santa Margarita, San Clemente, San Juan Capistrano, Talega, Tustin and surrounding areas.

 

 CDPE - Orange County Short Sale Agent

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Rainmaker
1,185,295
Adrian Willanger
206 909-7536 AdrianWillanger-broker.com - Seattle, WA
Profit from my two decades of experience

David-

Ouch! Inventory down 60% I can easily see why your market is on fire. Great tips to help pave the way to getting that perfect house.

 

Have a  great weekend-Adrian

Jun 01, 2013 01:38 AM #1
Rainer
234,847
David Grbich
Realty One Group - www.FindCARealEstate.com - San Juan Capistrano, CA
Orange County Real Estate - 949-500-0484

Hi Adrian, we may see inventory build with rates inching back up but on fire is an understatement!! Have a great weekend. Regards Dave

Jun 01, 2013 01:45 AM #2
Rainmaker
2,191,704
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Excellent tips, David, especially about partnering with an agent. I get a lot of calls from my listings online, and I ask the buyers if they are working with an agent. So many of them say no, they want to work directly with the listing agent and call on their own home choices, and I just say, Lottsa luck. Because I know they are not going to buy a home in this market. Maybe after prices go up and interest rates rise, in another 6 months or a year, they'll break down and hire an agent. But until then, it's just gonna be one huge disappointment after another.

Jun 01, 2013 10:04 AM #3
Rainmaker
3,651,844
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello David,  The market has heated up so fast that people have to decide faster or they will loose out.  Great tips.

Jun 01, 2013 01:32 PM #4
Ambassador
3,986,094
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Hi Dave, I like the willingness to compromise. It is most important for the buyer to realize that you can't get everything.

Jun 01, 2013 10:26 PM #5
Ambassador
2,042,386
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living
Dave, great article, many people make it way too difficult for themselves to find the right home because they are too rigid in their preferences.
Jun 01, 2013 10:47 PM #6
Rainer
234,847
David Grbich
Realty One Group - www.FindCARealEstate.com - San Juan Capistrano, CA
Orange County Real Estate - 949-500-0484

Hi Elizabeth - could not agree more - this market is far too competitive for buyers to work on their own - agent needed to get into a home day 1 and make the offer. Regards Dave

 

Hi Will - no doubt that time is a major factor right now - urgency is an asset. Regards Dave

Jun 02, 2013 01:49 AM #7
Rainer
234,847
David Grbich
Realty One Group - www.FindCARealEstate.com - San Juan Capistrano, CA
Orange County Real Estate - 949-500-0484

Hi Debbie, compromise is key and many buyers take time to learn that perfect is not possible. Regards Dave

 

Hi Silvia - buyers who can be flexible will have the most success and find a home that works for them much faster. Thanks Dave

Jun 02, 2013 01:51 AM #8
Rainmaker
1,304,474
Jon Kolsky
Kolsky Realty & Management - Long Beach, CA
Licensed California Real Estate Broker

DAVE: "SUGGESTED" I hope this blog post makes it to the feature blog roll....YOU HIT A HOME RUN....

Jun 02, 2013 02:25 AM #9
Rainer
234,847
David Grbich
Realty One Group - www.FindCARealEstate.com - San Juan Capistrano, CA
Orange County Real Estate - 949-500-0484

Hi Jon - thanks - maybe just a single but glad you liked it!! Regards Dave

Jun 02, 2013 02:29 AM #10
Rainmaker
3,826,819
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Good morning, Dave --- yes, it's difficult out there for buyers during these competitive inventory-light times--- being prepared and willing to compromise definitely will help.   

Jun 03, 2013 02:32 AM #11
Rainmaker
4,554,093
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

David, great advice to buyer buying property in Orange County!    It does take a lot to get to the closing table in a frenzied Seller's Market.

Jun 03, 2013 10:28 PM #12
Rainer
234,847
David Grbich
Realty One Group - www.FindCARealEstate.com - San Juan Capistrano, CA
Orange County Real Estate - 949-500-0484

Hi Michael - agree with your comments - there is no perfect house and compromising on some needs can really help. Regards Dave

 

Hi Joan - that is certainly the goal - buying can be frustrating but there are definitely steps to take that can get a buyer into their home. Regards Dave

Jun 04, 2013 01:26 AM #13
Rainmaker
3,495,134
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Hot, Hot, Hot is what your Orange County market is seeing. Now, that's the way Real Estate should be!

Jun 04, 2013 07:16 AM #14
Rainer
234,847
David Grbich
Realty One Group - www.FindCARealEstate.com - San Juan Capistrano, CA
Orange County Real Estate - 949-500-0484

Hi Larry/Sheila - I would prefer just "hot" vs. the "hot, hot, hot" - sure things are moving quickly on your coast as well. Regards Dave

Jun 05, 2013 07:30 AM #15
Rainmaker
1,507,525
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

You never know how long it will take. Sometimes, the first house you show is the right one, sometimes it does take time for a buyer to understand what they really want:)

Oct 24, 2015 01:41 PM #16
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Rainer
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David Grbich

Orange County Real Estate - 949-500-0484
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