Multiple Offers Doesn’t Mean You’re Overpaying for a Home

If you’ve been a “player” in the Orange County real estate market recently; either buying or selling a home, you know that home owners have been receiving multiple offers and with a low inventory of homes across Orange County. It’s been like the “wild west” for many buyers and sellers. This wild west mentality has caused some people to stay out of the real estate market because they think that home values and interest rates will only keep going down, but will the downward trend continue or will market conditions start going up?

Time To Act Now

Recent reports by RealtyTrac and other real estate market indicators have showed that market conditions are starting to get better. For example: mortgage rates are now off their record lows and are starting to creep up a slightly. Home values are also starting to go up in almost every Orange County zip code, especially in zip codes with homes under $500,000.

The Real Deal

When you measure things like inflation, it’s easy to see that home values are comparable to where they where back in 2003 -2004 and with interest rates still at their lowest levels in decades. If you are considering buying a home in Orange County you should make your move now. When interest rates go back above 3.75 percent (or higher), the current 2012 mortgage loan interest rates will seem like an awesome bargain for anyone who was fortunate enough to buy a home during the 2012 Orange County real estate market.

Top Orange County Realtor

Every prospective buyer should hire a top Orange County real estate agent now if they plan on buying or selling a home before the end of the year. With fewer foreclosures in Orange County and slightly higher mortgage loan interest rates, more buyers will be hitting the Orange County real estate market to get their part of the California dream.

To speak with one of the experienced Orange County Realtors at Fred Sed & Associates, contact us today at (949) 272-0125 or email us at info@bestocproperties.com.