Contrary to what many folks believe and what you see in the news media, homes are selling and buyers are back in South Orange County. Evidence of this is apparent at Open Houses, as well as with increased ad calls and "sign calls". Indeed, more sales are showing up on our office Sales Board, which tracks monthly sales activity. But one of the surprising facts that you might only know if you're out there trying to buy is this: Good listings that are well-priced are selling quickly again! In just the past few weeks, some buyer-clients of mine were interested in making offers on not one, but two consecutive bank-owned listings (both in Lake Forest). In both cases, before they could confirm their loan status with their lender and proceed with the offer, the homes SOLD, with multiple offers being submitted. The first listing broker indicated "gazillions" of offers came in (in less than a week on the market), while the second home attracted no less than 14 offers, in just 3 days on the market. It went into escrow at an agreed-upon price that was well above the bank's list price and now both are currently Pending Sales. The moral of the story, as my clients and I agreed, is that if you see a home that you really like and that is well-priced for you, don't assume it will be there long. There are many savvy buyers now taking advantage of what has become a very favorable market!
Comments(0)