Good news for home buyers is that Orange County price appreciation is no longer in white hot territory.
Home sellers this year 2014 need to seriously consider the comps and what buyers are paying for homes.
Our Orange County real estate market has changed during 2014, and buyers are looking to pay fair market value.
More Orange County homes listed for sale are sitting on the market without buyers.
Average market time for OC home selling has gone up, and active inventory of listings has been up all year. 8,057 Orange County homes are now listed for sale, which is 2,535 more than were on the market same time last year (a 45 percent increase in listings this year).
Orange County price and values skyrocketed from 2012 to the end of 2013. Sellers priced their homes above recent sale prices and received multiple offers – sometimes selling for more than list prices.
That’s stopped! Buyers at the OC now want to pay at value relative to recent sales – and expect to pay “fair market value”.
Orange County home selling usually cools after the kids return to school, and we expect this to moderate further from Thanksgiving through start of the New Year 2015.
Buyers have better options this years and are looking for nice upgraded homes and real value. Sellers are no longer in complete control and need to price their homes correctly while considering recent comp sales, location, upgrades, and condition of the home.
Sellers should price their homes realistically and correctly according to value from the start of marketing time and then expect positive results.
We here to help you evaluate the market in your area and price your home to sell.
By Harrison K. Long. Source of some information is ReportsOnHousing.com and is for homes sold by all brokers and agents.
Professional REALTOR® agent representation and help for property owners, home sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.
Contact us at 949-854-7747 with your questions about home prices and values at Irvine, Newport Beach, Costa Mesa, and other Orange County CA cities and areas.