The Secret Real Estate Market That Sizzles
How about some bookmark love? ::
It may be time to suspend your disbelief for a moment because I'm here to tell you that the Real Estate Market is not only hot, it's on FIRE. Let's look at some examples of how and in what price ranges the inventory is really moving.
Myth #1 The market is soft and slowing for everything except high end listings.
Here are some examples of well priced properties that have flown of the shelves of inventory within the last 3 months:
Sold Price $332,000
Rancho Niguel 760* Sq Ft Condo
On The Market: 37 Days
Sold Price $389,000
Rancho Niguel 908* Sq Ft Condo
On The Market: 11 Days
Sold Price $475,000
Laguna Niguel
3 Bedroom Townhome 1100*+ Sq Ft Condo
On The Market: 18 Days
Sold Price $527,599
Marina Hills, Laguna Niguel Condo 1200* Sq Ft Condo
On The Market: 23 Days
How about homes over 1 Million? Yep, there are plenty that have been snapped up right away.
I can go on and on, for every price bracket there are literally deals being made on constant basis. This really indicates that when listings are priced right, the buyers come out of the woodwork. The number one thing that will convince people to hire an agent is that they think that agent will get them the best price for their listing. At the same time, the number one thing that encourages buyers to make an offer even on a new listing is the idea that they could get a deal.
I can cite examples of these "short time on the market" listings all day. There are handfulls in each price range, and that is just in Laguna Niguel.
While many consumer and agents alike are sitting scratching their heads wondering what kind of market we're all in, the savvy ones are finding deals and putting them together. Perception can be 180 degrees off of reality.
Look at the case of another agent and colleague of mine, Jake Snavely. His goal is to always have a sale in escrow, and right now he has two. One of which was his listing that sold in 5 days.
How about on higher end properties? Of course, it is happening there too. Take for instance in Niguel Shores, on the Ocean Side of PCH, a home that was only on the market 2 days. There the first offer was being submitted within 24 hours of the listing coming onto the market. The listing price was more than 2.1 Million.
It is almost as if by reading the newspaper, you get the sense that they are in an alternate universe. There are deals happening all over South Orange County, and it just takes a little research to find them.
*All Square Footage Numbers are Estimates
**All Pricing, Square Footage, and Days on Market Data Provided by SoCal MLS
It may be time to suspend your disbelief for a moment because I'm here to tell you that the Real Estate Market is not only hot, it's on FIRE. Let's look at some examples of how and in what price ranges the inventory is really moving.
Myth #1 The market is soft and slowing for everything except high end listings.
Here are some examples of well priced properties that have flown of the shelves of inventory within the last 3 months:
Sold Price $332,000
Rancho Niguel 760* Sq Ft Condo
On The Market: 37 Days
Sold Price $389,000
Rancho Niguel 908* Sq Ft Condo
On The Market: 11 Days
Sold Price $475,000
Laguna Niguel
3 Bedroom Townhome 1100*+ Sq Ft Condo
On The Market: 18 Days
Sold Price $527,599
Marina Hills, Laguna Niguel Condo 1200* Sq Ft Condo
On The Market: 23 Days
How about homes over 1 Million? Yep, there are plenty that have been snapped up right away.
I can go on and on, for every price bracket there are literally deals being made on constant basis. This really indicates that when listings are priced right, the buyers come out of the woodwork. The number one thing that will convince people to hire an agent is that they think that agent will get them the best price for their listing. At the same time, the number one thing that encourages buyers to make an offer even on a new listing is the idea that they could get a deal.
I can cite examples of these "short time on the market" listings all day. There are handfulls in each price range, and that is just in Laguna Niguel.
While many consumer and agents alike are sitting scratching their heads wondering what kind of market we're all in, the savvy ones are finding deals and putting them together. Perception can be 180 degrees off of reality.
Look at the case of another agent and colleague of mine, Jake Snavely. His goal is to always have a sale in escrow, and right now he has two. One of which was his listing that sold in 5 days.
How about on higher end properties? Of course, it is happening there too. Take for instance in Niguel Shores, on the Ocean Side of PCH, a home that was only on the market 2 days. There the first offer was being submitted within 24 hours of the listing coming onto the market. The listing price was more than 2.1 Million.
It is almost as if by reading the newspaper, you get the sense that they are in an alternate universe. There are deals happening all over South Orange County, and it just takes a little research to find them.
*All Square Footage Numbers are Estimates
**All Pricing, Square Footage, and Days on Market Data Provided by SoCal MLS
Labels: market update
We're seeing the same in the Inland Empire. If a home shows well and is priced right, days on market plummets. Found an IE homes web site with lots of nice help pages at http://www.iehomesonline.com/help/index.html
Posted by
Sam |
5:00 PM