The real estate market is constantly changing, especially over the last 8 years. We have seen a real spike in real estate prices but the San Clemente real estate market is seasonal so our high selling season starts in January and usually continues through mid September. In the fall and winter months through Christmas the market can be relatively slow, and this even magnified more as the presidential elections have everyone in a holding pattern. Some of the best deals can be found in these 4 months with sellers that need to sell their home. These seller motivated homes have the potential to be good opportunities for buying a home at a good price. There are certain things to look for when buying a home in San Clemente.
First, know your comps. Your real estate agent should be able to send you a list of sold properties in the immediate area where the home you are interested is located. Comparable sold properties should only be looked at going back six months since appraiser's typically go back this far when assessing the value. It's important to compare similar properties and take in to consideration the upgrades or deficiencies the home may have compared to the home you would like to buy. Once you have a ballpark of what the home is worth be prepared to put in a strong offer slightly lower than market value to see what kind of deal you can get. Make sure you have a letter from you lender showing that you are qualified to purchase the home and include that with your offer.
Sometimes seller's are motivated to sell for a variety of reasons. Job transfer, divorce, moving out of state are always motivating factors that cause seller's to want to sell their home. It's important to consider other motivating influences that you may not be able to see. Neighborhood noise, slope problems and general defects in the house may also be factors in wanting to sell. Do your due diligence in checking out the area and home before you write up an offer. Ask a lot of questions if you can to the owner's agent, neighbors and even the homeowner if you get a chance. The more information you can find out about a property the better negotiating power you will have.
Finally, use the seasonal market here in San Clemente to your advantage. The months of October, November and December are excellent months to buy a home. Come the first of the year the market typically gets very busy with many buyers realizing they must buy for tax purposes. The only downside to buying this time of year is the low inventory of homes on the market. Most seller's will take their home off the market during this time due to the low activity and usually re-list them starting in January and February. For additional questions regarding the real estate market here in San Clemente please don't hesitate to call us at 949-204-5110.
San Clemente 2995 Calle Gaucho
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