By Joe Lins
September 23, 2014
I LOVE this real estate market! It’s a great time for all parties involved in the process. It’s markets like this that remind me why I got into real estate…to help people buy and sell homes.
Here are 4 reasons why I love this market:
1) Buyers offers are being accepted
Buyers actually have a chance of buying a home without being out bid by investors. Investors have made a lot of money over the past few years and good for them! As home prices have slowly inched up investors are not as prevalent which allows buyers, especially first time home buyers, to get the home they want.
2) Buyers can afford a home
People who want to buy a home are able to do so because interest rates are still very low. The Federal Reserve recently announced that it would keep interest rates low for now which is good news for borrowers. In addition, in our local Orange County market home prices are appreciating at a reasonable rate.
3) Technology is helping the home buying process
I know there are a lot of people in the industry who are freaking out about the potential Zillow-Trulia merger and the affects of other third party sites on the information available to the public. They think this will take the place of the professional REALTOR®. I don’t believe that mindset. Now, buyers have the ability to make better choices because of the technology available to them. They can research everything from neighborhoods and schools to crime rates and interest rates. Now, sellers can go onto Zillow and get a Zestimate of their property, this provides an opportunity for the REALTOR to educate (or re-educate) the seller on the actual comps for their home.
4) Homes are being sold for fair market value
It’s a true market where neither the buyer nor seller has a distinct advantage over the other. Sellers can still achieve top dollar without the fear of leaving money on the table if they had waited. Buyers can make quality purchase decisions without the fear of being priced out of the market. Both parties are able to achieve their definition of success, which rarely happens in any market.
The REALTORS who truly understand this are succeeding in helping people buy and sell homes through their micro-market knowledge and keen negotiating skills. After all, isn’t that why we got into this business?
About the author: Joe Lins is President and Co-owner of CENTURY 21 Discovery. If you are interested in becoming part of the CENTURY 21 Discovery team contact Joe at 714.626.2069.