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For any home owner looking to sell their house fast, going through the ins and outs of the real estate business can be daunting. This is especially true in the notoriously difficult area of Orange County, California. Orange County is one of the most densely populated counties in California and contains some pricey homes as well. What makes Orange County incredibly tricky from a real estate perspective is its size and population. Finding the right buyer might be difficult, especially considering that Orange County ranked as one of the most overpriced housing counties in the United States.
What does a home owner have to do to sell their home in Orange County? Should a real estate agent be used or should the home owner try to sell their house by themselves? This guide shows a few of the options available to people looking to sell their Orange County homes, the situations they could end up in when selling their home, and why investors might be looking to buy homes in Orange County, CA.
A Quick Overview of The Orange County Housing Market
The Orange County real estate market can be one of the trickiest to buy or sell in. As mentioned before, the market in Orange County can be difficult because of the sheer size and density of the county. With so many different areas, from Los Angeles to Anaheim to Long Beach, the property and areas are as vast and varied as the county. These areas also contain famous attractions, like Disneyland and Knott’s Berry Farm; with any area that has a famous attraction, the prices of the real estate can fluctuate rather rapidly.
And, also as mentioned before, Orange County is currently one of the most overpriced housing markets in the country. The average home prices in Orange County continue to rise, as well, going up 9 percent in July, 5.8 percent in August, and 6.4 percent in September. Couple this with the fact that homes sales have widely fluctuated over the past year, with sales of homes dipping down to a low in January and February of 2014, Orange County becomes an enigma of a market. That, though, is just the tip of the iceberg with the real estate markets in Orange County.
With these inflating prices continuing to rise each month, some real estate investors predict another housing bubble to pop in the near future. Harkening back to the “Great Recession” when housing markets tumbled, another spill could mean disaster for still unstable real estate markets. Although it is true that homes will always continue to sell, one must ask a nagging question: for how much?
This sets up the current housing market in Orange County. For a buyer, the prices are high and keep on rising. For a seller, the time to dump off a house before the values plummet is now; there is no telling what will happen to the markets, and with experts beginning to become leery, if a home owner is beginning to think about selling his or her home and moving, then now is the time.
How To Sell Your House In Orange County
Most people think that selling their home is one dimensional: people come and tour the home, another person buys it, moves in, and the home owner goes to their new residence. This, though, is not the case anymore. There is an array of different people looking to buy homes, some of them having no interest at all in living at the property. For a seller these days, there are three main ways to sell a home: selling your house through a realtor, for by owner, and selling to a home investor.
Selling through a realtor is a commonly used strategy. A home owner goes to an individual realtor or a company like Century 21 and has the real estate agent handle the selling of their home. Most of the time, the real estate agent will sell to an individual or family looking to live on the property. This is the traditional way of selling a home, one that can take some time. It is not unusual for a house to take up to a year, and sometimes even more, to sell. With this method of selling, the real estate agent takes a hefty commission for the sale. In the end, the home owner does not receive as much money, and the home selling process can last a couple months. If you need to sell your house fast or if your house is in a bad neighborhood, then this may not be the best option for you.
Another method for selling a home is a sale by the home owner. This is another popular method that some home owners attempt to tackle. This method is advantageous is some ways, mostly because whatever the home owner sells the home for is what he or she will keep. There are no commissions to be paid, and no one standing in the way of a hands on home owner. However, that is also its downside. Without the help of a skilled real estate agent or home investor, selling a piece of property can be difficult, sometimes undo able. And again, as with selling with a real estate agent, the process can take some time, possibly even more time than with a real estate agent. For those looking to sell their house quickly, the time needed to list the house, prepare the home, and then finally find the right buyer can be daunting if not overwhelming.
The final method a home owner can use to sell is looking for an investor. This method, much like the last, is done by the home owner, which gives the profits from the sale directly to the home owner without any commission being deducted. This option, though, does not require the time and patience that for sale by owner does. Many investors are looking to buy properties in Orange County. They have the assets to quickly buy homes, often times for cash. This makes for a quick sale, something that could be very important to a home owner depending on the situation they find themselves in. However, finding the right home investor, can sometimes prove difficult. That’s why at Blake Buys Homes we walk you through the entire process and explain everything in simple terms. We have the experience to find the right solution for you no matter what situation you find yourself in.
The Situations a Home Owner Can Be In
So far, this article has covered the current real estate market in Orange County and the ways in which a home owner can sell his or her home. However, it has neglected to examine the reasons why a home owner might need to sell his or her home.
Some home owners may find themselves in a financial quandary, meaning they will need to sell their homes rather quickly. Problems that put home owners in this situation could be the loss of a job, too many outstanding mortgages, overwhelming debt, sudden bills, including hospital bills, or the need to move to a different city for a job. There are a variety of reasons why a home owner might need to sell his or her home quickly, and all of them put unneeded pressure on the home owner. If you find yourself in one of these situations, it’s important to understand that it’s ok. Real Estate investors provide an excellent alternative for selling your house and getting back on your feet.
Another situation some home owners find themselves in is selling a new house. Selling a new house can be rather tricky, especially if the amount of time spent in the new house is under one year. Buyers will wonder what was wrong with the house, and worse yet, the price of a new house, taxes included, can be out of the range of many potential buyers. Though some people do look for, and enjoying living in, new houses, many will find themselves out of their price range. For these reasons, the standard methods of selling your house through a realtor or by owner may not be your best choice. There are many real estate investors in Orange County looking to purchase new homes.
Finally, one of the many reasons a home owner might need to sell his or her home is because of downsizing or upsizing. Life changes, and with the addition or loss of children, husbands, or wives, a home may be either too big or too small. Some may need a larger home to accommodate a new child, while others may want a smaller home after a child moves out. Also, after a job promotion or loss, upsizing and downsizing, respectively, is sometimes a natural step. When the mortgage becomes too much to handle, then downsizing is also a valid option.
Why Investors Buy Houses
For the most part, this article has looked at the housing market in Orange County and what problems and options a home owner has when looking to sell his or her home. However, one of these options is especially useful when the need to quickly sell a piece of property arises. Investors are looking to buy homes quickly, and most home owners don’t know why. Knowing more about investors and what they are looking for not only makes the search for the right investor easier, it also helps the home owner have the edge when negotiating a price.
Investors look to buy homes for a variety of reasons. Some look at the piece of property a home sits on a sees potential; although the structure itself might not have much value, the property might. For example, the property could be in an up and coming area or an area that is already hot. Sometimes, the property is simply well positioned, giving a view that is stunning or providing a location that makes access to big venues easy.
The home buyer, or investor, sees the opportunity in the property, and sometimes even structure, and wants to invest in it. For the buyer, this investment might be something that takes some time. Much like with stocks, a buyer might purchase something that takes years to develop or can go for something that could be turned around in a month’s time.
If an investor sees potential in a home, there is a good chance that the buyer will want to make the purchase quickly. The real estate markets can change rapidly, and having the right piece of property at the right time is crucial. Knowing this as a home owner is critical to making a good deal. At Blake Buys Homes, our focus is on providing solutions for the home owners we deal with. We always submit our best offer on the property as-is and don’t include any commissions, fees, or closing costs to the seller. You can learn more about our personalized process and why we're different from other investors, by starting at our Home Page.
Selling Your House Outside of Orange County
Knowing how investors work and about the different ways a home owner can sell his or her home is not only beneficial in the Orange County market, but is useful in nearly every other part of the country.
Investors work nearly the same in all other parts of the country. From city to city, there are buyers scouting areas, watching real estate trends, seeing where the newest, hottest location will be. Some look to turn around a home quickly, fixing it up and selling it for a profit. Other investors will buy and hold for the long haul. Either way, there are buyers ready to purchase the right piece of property.
For a home owner looking to sell, the option of selling through a realtor, by the home owner, or to an investor will be present in nearly every market. Knowing what the current housing prices are, how big a county or area is, what the population is, what the crime rate is, what groups of people tend to live in the area, are all key factors to consider as a home owner looking to sell in a different area.
Selling Houses in Orange County, California
Orange County is, and for the foreseeable future looks to be, a volatile market. Although this may seem attractive for some buyers, many experts say the market cannot stay this way forever; some even foresee another housing market collapse similar to the “Great Recession.” If this happens, selling a house could be rather difficult, and even when it is done, the price would not be nearly as high as it is now. This then, makes some home owners who are thinking of selling, look to what options are at their disposal.
For the home owner looking to sell, there are a few options. One is to sell through a realtor, an option that has, and most likely always will be, around; this has its advantages in the hand off approach, but also comes with drawbacks like time taken to sell and the commission taken out of the selling price. Then, there is the home owner selling the property by him or herself; this can take a while to do and can be a hassle, but give the whole amount of money to the home owner. And finally, there is the option of selling to an investor like Blake Buys Homes. Selling to your house to an investor is the quickest way to sell your house in Orange County, CA and you can receive a fair price without incurring any fees.
Home owners look to sell for as many reasons as investors look to buy. Some home owners need the money quickly or need to downsize or upsize their living space. Some investors want a property in an up and coming area and will look to buy up spots there as quickly as possible. The mutual benefits can help both parties when a property in the right area needs to be sold quickly.
Finally, knowing why investors buy homes and the ways a home owner can sell not only benefits a person living and looking to purchase in Orange County but helps in other areas across the country. Knowing the current trends, the prices, the hot areas, the reason why investors buy, and how to handle a sale can be useful anywhere in the country. And, with this information, a home owner can make a successful sale even in the market of Orange County.