So You Think You Can’t Afford A Home Anymore?

For the Orange County home buyer the Real Estate Market has resembled the Wild West over the last year as home prices have risen quickly and many home buyers who once felt that they would be able to find a home that’s right for them now feel like they are unable to find homes for sale in their price range.

Although the OC Real Estate Market might be difficult, it’s certainly not impossible to find a home if you know how and where to look.

Expired Listings  

The first step to finding a home that’s fallen off the “radar” of other home buyers in Orange County is to search for expired listings.

These are homes that for whatever reasons were once listed for sale but the listing ultimately expired and the home was taken off the market.

In many cases an expired listing was passed up by other home buyers because it was priced too high or needed a little work, so if you have your Realtor make an offer to the seller you could find the right home in Orange County at a great price.

Rentals

Another step towards finding a home in Orange County that other buyers may have passed up is to turn to the rental market. Many times rentals are homes that are owned by people who moved out of state at the last minute because of job transfers.

Once you find a home that you would be interested in purchasing you could once again have your Realtor submit an offer directly to the owner.

Short Sales or Foreclosures

There are still Short Sale and Foreclosures available in Orange County, but keep in mind that these homes typically take longer to move into because you have to submit an offer to the lender and a little work might be needed on the home before you can move in.

Awesome Financing Options Available To You

Another great thing about buying a home now is that you have plenty of great financing options available to you as well including: HUD, FHA or VA Loans so it’s possible that you could get into a home where you would have to put little money down and have affordable monthly payments.

To learn more about the wide variety of home buying options that are available to you contact Fred Sed & Associates today by calling us at (949) 272-012.

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