When it comes to the reality of pricing a home in Mission Viejo, it’s natural that buyer’s and
seller’s points of view reflect their different roles and objective. In a way, they are mirror images
of each another.
From the seller’s point of view, pricing their Mission Viejo home starts out from the reality
check of the “comps”—the prices registered in recent comparable neighborhood sales. From there,
the pricing decision revolves around the tradeoff between maximum asking price versus the desire
for a speedy sale. Even if there is no time pressure at all, serious sellers will still set the asking
price below a level that indicates disregard for current market realities. Rather than communicating
“this place is worth more than what people are willing to pay,” overpricing only serves to
needlessly put off buyers and their agents. If time pressure is an issue, experienced sellers will peg
the asking price just enough below neighborhood comparables to make the value evident. Tagging
“motivated buyer” on the listing can attract attention, but the right price cuts to the chase. That’s a
tactic bound to draw timely offers—especially when a Mission Viejo property is in A+ showing
For most prospective Mission Viejo buyers, it’s the mirror image. Rather than starting from
the reality of neighborhood comps, the pricing of their future home begins as an abstraction: the
“looking” range. The top of the range will be a figure that is derived from what is comfortably
affordable rather than what that figure will command in the current market. Once the serious house
hunt is underway and some area properties have been visited, that top-of-range number will almost
always need some adjusting—usually (but not always) upward.
Thereafter, when some desirable Mission Viejo properties have been located, pricing from
the buyer’s perspective is apt to become largely an exercise in deconstruction. Even though a home
is actually desirable, it’s hard to resist zeroing in on the property’s weak points, turning flaws into
subtraction fodder for mental offer calculations.
In a successful transaction, the mirror images of buyers’ and sellers’ approaches to home
pricing do ultimately wind up converging. That’s another area where having a knowledgeable
Mission Viejo REALTOR® on your team is invaluable. When it comes to offers and counter-offers,
whether you’re a buyer or seller, having your side of the negotiations handled by an experienced
professional is a sure way to keep the other side tethered to reality. Arriving at a bottom line
reflecting realistic and lasting Mission Viejo real estate value is what most often winds up bringing
both parties to a happy conclusion. The first step? You guessed it: call me!
Realtor BRE # 01880463, The Associates Realty Group