As long time Orange County Realtors we’ve had many clients ask us over the years “how can I find a great deal on a new home?” The answer to this question isn’t as simple as you might think.
It can be difficult but not impossible to find a great deal on an Orange County home but the deal you find on a home here also depends on your personal circumstances and it’s important to ask yourself these questions:
What Are You Looking For?
The first step towards finding a deal on an Orange County home is to define what type of home you are searching for and where you want to live in the area.
What Is Your Situation?
Are you searching for a primary residence for your family or a rental home which you hope to generate monthly cash flow from?
How Are You Going To Finance The Home?
Will you be paying for the home with cash or are you going to get a mortgage loan?
This question is important to ask because cash buyers have more power to move quickly during a competitive Real Estate market compared to buyers who have been pre-qualified for a mortgage loan.
The Reality of the Real Estate Market Today
Four years ago you may have been able to buy an Orange County home and enjoy a discount of 20% to 30%, but times have changed and during a competitive Real Estate market you can expect to pay up to 100% of a home’s market value especially if it’s in move in condition and doesn’t require a lot of work.
Where the Deals Are In the OC Real Estate Market
Although the Real Estate market is competitive you can find deals on homes in Irvine, Tustin and other Orange County communities if you purchase a home that’s a fixer and requires work to make it livable.
Many home buyers right now are finding great deals on fixer-uppers, especially investors who fix up homes and rent them out while they build equity or they fix and flip homes.
Learn More about Orange County Real Estate
To learn more about the Orange County Real Estate market especially about opportunities to fix and flip Real Estate in the area contact Fred Sed & Associates today by calling us at (949) 272-0125.