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.