Is This THE SIGN That We’ve Hit the Bottom of the Orange County Real Estate Market?
Home buyers take note – when an Orange County, CA REO home hits the market for sale at $177 a square foot, when the recent neighborhood sales indicate a market price of $206 a square foot – what do you think is the outcome? Before you answer that question – you should know the facts. So read on!
Orange, CA REO Home Sold in a Weekend for Waaay Over List Price
This well-maintained (read that to be “not a disaster – actually in really decent shape”) REO home for sale in the city of Orange is a two story, 4 bedroom 3 bath home with volume ceilings, island kitchen, pool, spa, gated side yard on a cul-de-sac with beautiful landscaping, room for an RV, and easy access to all the local shopping, freeways, and restaurants – with over 2300 square feet – getting the picture? This central Orange County beauty was offered for sale in the Orange County MLS on Friday, and brought in almost 20 offers in less than three days (over the weekend, no less) – most OVER the asking price by 10 – 15%, and several all cash. That puts the sales price for this lovely Orange County home right back to current maket value. What got these buyers off the fence you may ask? The lure of very agressive pricing and the reality of what the market will bear. What’s the point you ask? The point is the prices on Orange County Real Estate are holding – and holding strong.
So take advantage of all the incentives, government stimuli, and great interest rates to go out and find an Orange County home to buy – before you read that the bottom of the Orange County Real Estate Market came today – and you missed it. You waited until it was too late to claim your stake as a buyer at the true bottom of the market. But don’t beat yourself up too badly – there is still time to make a great deal on an Orange County, CA home for sale and emerege a true winner in this chaotic market!
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