Rising equity levels in Orange County Real Estate and the return of some sense of market stability means move up buyers are coming back to the market. Sellers now have enough positive equity in their Orange County homes to make a large enough down payment making their move up purchase possible. Additionally interest rates though still historically low have been inching up ever so slightly inspiring many move up buyers to take advantage of these low rates before they go any higher as many experts predict they will in the coming months.
Per Daren Blomquist, vice president of RealtyTrac, 40% of all homeowners have at least 20% positive equity. If home prices continue to rise obviously this percentage will also rise allowing more homeowners to move up. This it more of a primary home purchase market as oppose to investor purchase of distressed properties that helped propel us to where we are today.
From a practical transactional point of view move up buyers are a little bit trickier since you are trying to time their home sale with the purchase of their new home. It may seem a bit muddy for clients but us experienced agents know how it can be done with limited difficulties.
So if you find yourself in an equity position and have considered moving up to that bigger family home or maybe moving to that ocean view home that you always dreamed of now that the kids are grown now is the time! Contact me today so we can review your options and come up with a plan that will accomplish your goals.