I think all of us in Orange County were getting a bit spoiled. As the Orange County Real Estate market ramp up started and inventory was tight buyers were beating down the seller’s doors again and out bidding one another waiving appraisals and shortening inspection contingencies time frames just to get the Orange County home of their dreams. During that time I had a buyer that I was helping find their first Laguna Niguel home. They started out with a list of their must haves and as the offer rejections hit ten (beat out pretty much by all cash buyers every time) their criteria opened up a whole lot. Luckily their Orange County real estate adventure did have a happy ending as they ended up getting all their must haves on the 11th offer by beating out an over asking cash buyer because we were able to meet the seller who actually cared that these first time buyers (not some big institution accumulating rental properties) was going to move into what was their first home.
Fast forward to today where the Orange County real estate market has slowed down dramatically moving from a seller’s market to a neutral market and we have buyer’s holding out for exactly what they want, not compromising, and negotiating hard with sellers’ to get the price and terms they want. So what caused the swing the other way? There are many things, increase in Orange County housing inventory, pull out of some of the commercial investors from Orange County real estate, increase in interest rates, and the traditional change for the fall market. As realtors it is our job to educate our sellers when the Orange County real estate market makes changes so that they can make educated decision on pricing and timing of their Orange County homes and to make sure that they have realistic expectations from the current market.
So whether you are a buyer or seller in Orange County contact me to discuss your current real estate needs and let me put my 14 years of experience to use. I’ve seen many of these Orange County real estate market changes and can help you navigate through them so you end up selling or buying at the best time for you.