Is it a buyers market or a sellers market in Irvine Orange County?

by Robert Mack on August 2, 2010

in Irvine Real Estate

It doesn’t matter……if the price is right! I hear it all the time, “right now it’s a buyers’ market.  It’s not the right time to sell.”  The fact of the matter is, if you’ve decided to move because of a new job, or your current home is too big/small, or you just want to live in a new neighborhood, the market life of your home is entirely up to you!  Sure there are times where sellers can list their homes at an optimistic value and sell at that price; however the majority of homes will sell within “fair market value”.  Most homes priced above this price range where the process can be long and drawn out, where in most cases, a home seller can become extremely frustrated and eventually sell much lower than anticipated.Irvine Homes For Sale

Determine why you are moving.  Is it because you got a promotion and need to relocate? Is there a baby on the way and you just need more room?  Have your kids moved out and now you have too much house?  Look at your motivation to move and your time frame and this will generally have an impact on the price you and your agent decide to set for your home.  In general most sellers tend to have a very optimistic value of the value of their home.  As a home seller, you need to remember that you are not the only one trying to impress a buyer.  The challenge that one must overcome is to understand that most home buyers have no attachment to any specific home.  Most buyers today are looking for the best value in an area that they are interested in.  Also keep in mind that your upgrades may not be to the liking of a prospective buyer, therefore your hardwood floors may not add value to the buyer if they prefer a tile floor or vice versa. 

Put yourself in the buyers’ shoes.  It all just depends on what the buyer is looking for and ultimately what they can afford and if it makes sense to them.  I always tell my clients that they will most likely get an offer based on what the home is worth or maybe more depending on the inventory in the area and condition of the home, as long as it isn’t overpriced and it hasn’t been on the market for 6-12 months.  A home on the market month after month becomes stale, and buyers WILL notice and interest WILL slowly diminish. 

Pricing a home right the first time will ensure that buyers looking in that price range will see your home.  It is not uncommon for overpriced homes to be unseen by buyers looking in a specific price range because it just doesn’t fall in their specific criteria and you can’t sell a home to a buyer who hasn’t seen it yet.

Stay tuned for ways to ensure your home is priced to sell!  Also to learn what your home would sell for in today’s Irvine, Orange County market go to http://www.IrvinePropertyValues.com and sign up for a free over the net home evaluation!

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Post by Robert Mack

Robert has written 727 articles.

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