OC Housing Report

Pricing Matters

Longer market times and price reductions are very strong indicators that sellers will net less upon closing.  Scrutinizing comparable pending and closed sales is critical for sellers to walk away with the most money in the least amount of time.

The housing market has been plagued by a limited inventory for years now. Buyers eagerly await a fresh supply of available homes that best match their wish list. They regularly check their home search apps for anything that hits the market. Home buyers scour every photograph, every feature, and every detail of each home within moments it is listed FOR-SALE. It is during the first week of coming on the market that a home obtains the most attention. Buyers scrutinize the pictures, looking at condition, upgrades, amenities, style, curb appeal, and location. But, even more importantly, before climbing in a car to tour a home, potential purchasers will carefully analyze the asking price. 

Correctly pricing a home initially, especially in a market slowing from week to week, is critical to secure a successful outcome and to walk away with as much money as possible. Armed with the knowledge of what they can afford, seasoned buyers have seen many different homes. Some look like a model, and others have plenty of deferred maintenance. They have seen homes that have been upgraded and updated and have alluring amenities. More importantly, they are very familiar with proper pricing for their specific needs. When a home first comes on the market, buyers immediately look at the price in relation to what the house has to offer. They can easily discern when a seller is being a bit overzealous and is stretching the asking price. 







Excerpt taken from an article by Steven Thomas.

About the Author

Tim Morissette, also known in the community as Mr. Foothill Ranch, offers over 46 years of real estate experience which has given him an established reputation and unmatched market knowledge. He is joined by his wife, Michele and sons Matt and Jeff, 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 26 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, paper shredding and e-waste recycling event, an Easter egg hunt, & a Meet Santa Event.

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.