Orange County Housing Report: Buyers’ Frustration

An Ongoing Seller’s Market

Housing has lined up in favor of sellers for years now and it is due to a low inventory of homes available to purchase coupled with strong demand boosted by historically low mortgage rates.

It is tough buying a home in today’s housing market. A couple browses home after home until they find one worth seeing. After scheduling a showing, they write an offer to purchase because the house would be perfect for their growing family. It meets all of their requirements and it has the added bonus of a downstairs bedroom. Excitement and anticipation are in the air as they wait for a response. Their enthusiasm begins to dim as they find out that there are nine additional offers on their “perfect” home. After going back and forth with the seller, the buyers learn that they were not the winning bidder on the home. They have to go back to the drawing board and browse for their next opportunity.

This scenario plays out repeatedly across the United States, not just in Orange County. Many buyers find success, just not immediately. Other buyers, especially in the lower price ranges, write offers over and over again, but just cannot seem to get one of them accepted. It is frustrating and many buyers come to a point where they simply want to give up. Should they wait until the market slows and tilts more in the buyer’s favor? Will it get easier anytime soon? Unfortunately, it will not get any easier and it does not make sense to wait to purchase.

Excerpt taken from an article by Steven Thomas.

About the Author

Tim Morissette, also known in the community as Mr. Foothill Ranch, offers over 43 years of real estate experience which has given him an established reputation and unmatched market knowledge. He is joined by his wife, Michele and son Matt, as they continue to offer personal service with an emphasis on achieving his clients’ real estate goals.  This unique combination of traits has led to his proven track record of referral and repeat business. This can be witnessed by the trust of homeowners in Foothill Ranch where he has sold twice as many homes and represented three times more buyers than the next-leading real estate agent for the last 23 years.

As residents of Foothill Ranch since 1994, Tim and Michele are actively involved in the community by fundraising for Foothill Ranch Library, Make-a-Wish Foundation, Cancer Society, Homes for Habitat, Relay for Life, South County Outreach, and the local church and schools. Tim enjoys sponsoring community-wide garage sales, as well as sponsors Paper Shredding and E-Waste Recycling events twice a year.

Tim and Michele are dedicated to their family of four sons, daughter-in-laws, and grandchildren. As a family, they enjoy many outdoor activities which include camping, spearfishing, mountain climbing and exploring the miles of hiking and equestrian trails in Foothill Ranch and the Whiting Ranch Wilderness Park. Tim and his sons are also avid snowboarders and enjoy mountain biking and lobster diving. Family is a top priority in the Morissette household. They look forward to helping more families achieve their dreams of homeownership.