Trying to Find a Good Deal In Orange County - Know Where to Look

By
Real Estate Agent with M Realty

As agents, we are continually hearing our clients request a 'good deal'. 

But I understand the thinking.  For a buyer, if they have to stand around a water cooler and justify jumping into this crazy real estate market, the best defense is 'I got such a great deal!'

But where are the great deals in Orange County?  I recently responded to a question on Trulia Q & A about where to write an offer on an Orange County REO.  The first answer was from an out of area agent stating that 30% under asking was a good place to start.  It may very well be in her area, but in Orange County and Riverside County, first time home buyers and investors are out in force.  Asking price, or over, is common and multiple offers is the rule rather than the exception. 

At OC Real Estate Voice, I detail the pros and cons of the various types of purchases in Orange County.  Surprisingly, some of the best deals are the realistic, traditional sellers that are motivated to price their homes to compete with the inventory. For the buyers focused only on foreclosures, they may be missing some great opportunities.

 

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Everything California
Orange County Real Estate
Tags:
orange county real estate
bank owned
short sales
traditional sellers

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Rainmaker
519,225
Harrison K. Long
HomeSmart, Evergreen Realty - Irvine, CA
REALTOR , GRI, Broker associate, Attorney

Lindsey  .. Thanks for the article about good deals on homes here in South OC, CA.  There are lots of good opportunities around, depending mostly of course on what the buyer client wants and expects, relative to what is listed.  Keep up the good work and sharing.

Harrison K. Long, Explore Properties Group, Irvine, CA

Aug 28, 2008 09:37 AM #1
Rainmaker
44,255
Rob Graham
Windermere Real Estate - Seattle, WA
Rob Graham

Wow, 30% under would get laughed at out here in Seattle.  Offers below asking price aren't uncommon but we are talking 10% below ask not 30%.

Aug 28, 2008 09:48 AM #2
Rainer
50,733
Greg Knowles Santa Barbara Ca.
Fidelity National Title Group-Santa Barbara - Santa Barbara, CA

Linsey, we all know Real Estate is local. I'm sure each area has it's own unique set of circumstances. It is part of that argument I make when people ask me if they should use a realtor. ABSOLUTELY! They need a local expert to help with these types of issues.

Aug 28, 2008 10:36 AM #3
Ambassador
2,011,177
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Linsey, I agree with you.  I have been in many multiple offer situations lately in REO and short sales. There is a lot of competition for properties viewed as "deals."

Aug 29, 2008 07:15 PM #4
Rainer
318,801
Scott Hoen
HollywoodTitleCompany.com - Carson City, NV
COO, Hollywood Title Company 714-270-9607

agreed -- everyone expects a deal with and REO and if anything, they end up paying more.  Consult with a real estate professional that knows the local market is the way I would go.

Aug 29, 2008 08:43 PM #5
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Rainer
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Linsey Ehle

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