Orange County Housing Report

Orange County Housing Report

DANGERS OF OVERPRICING

Pricing – A key factor in selling a home quickly and for top dollar is to avoid price reductions.

A house is not just a building with rooms; it is a home where so many memories are made.  It is where a baby takes its first steps, kids learn to ride their bikes, and numerous birthday celebrations and family gatherings occur.  A home is where life transpires and is a special piece of a family’s history.  A home is emotional, more than just a dwelling.

In pricing a home, many sellers have an extremely difficult time pulling the emotion out of the equation.  After all, it is worth so much more in factoring in the memories.  Unfortunately, when it comes to selling a home, none of this actors into the price.

Ultimately, when a home initially comes on the market, the price will determine a seller’s success.  One of the most crucial steps in being able to  sell quickly, open escrow, and obtain the highest possible net proceeds from the sell of a home is to carefully arrive at its Fair Market Value.   Yes, the current market is a sizzling Hot Seller’s Market where homeowners are obtaining multiple offers that are remarkably close to their asking price.  Yet, in every price range, homes sit without success, leaving these sellers wondering what in the world they are doing wrong.  33% of all homes in range County have been on the market for over two months.

 

 

 

 

 

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.