Have you seen some Mission Viejo homes for sale that are priced too low to be believed? How about that condo that was listed for $188,100, went into escrow 8 days later, and sold for $220,000?
Low Prices Attract Lots of Buyers
Did seeing such a great price work you into a frenzy, only to learn the home sold in a matter of hours? What’s going on here? If it is listed so low, why doesn’t is sell for that low price? Why does it end up selling for above, often WAY above the asking price?
Well, pricing a home in Mission Viejo below the other similar homes is a stragey that is working for some home sellers in today’s market. Basically, it helps to attract a bunch of offers from Mission Viejo home buyers looking for a great deal in today’s Real Estate market. It can be super exciting if you are a buyer thinking that the house you are interested in could be yours for a song! But then you find out that there are six or eight other offers already submitted at prices above the list price.
The fact is, the market sets the price. There are many other buyers looking for the same deal you are looking for and recognize an eye-popping price when they see it.
How Can a Buyer Be Successful?
My best advice is to use all the tools available to you to stay on top of the market. Work with an agent who is committed to keeping you up to date. Set up a saved home search on a website like this one, or ask your agent to do it for you. Most important, be prepared to act immediately, and understand that it might take more that one offer to own that dream home.
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