Have you been looking at the real estate market and wondering what happened to all the Aliso Viejo homes for sale? The market has certainly taken a turn in recent months and if you've been out shopping for a new house, you know what I'm talking about. The available inventory of homes has all but disappeared. A well priced listing in Aliso Viejo will last just a few days before an offer gets accepted.
It's not just Aliso Viejo home listings that have disappeared, but most cities in Orange County are experiencing this issue with entry level priced homes. I think Aliso Viejo is experiencing this problem a much more than most cities in Orange County right now because of the relative value of the homes throughout the city. With an average sales price of $458,000 (up almost 11% from a year ago), Aliso Viejo homes are some of the most affordable throughout Orange County.
So what happened to all the homes for sale in Aliso Viejo?
In Aliso Viejo, new listings are down almost
35% for December 2012 compared to December 2011. Overall inventory of homes for
sale in Aliso Viejo was down over 73% for the same time period. Also, closed
sales are up over 30% overall. A few factors have pushed the market in the
upward direction throughout Orange County.
Search for homes in Aliso Viejo
All of these factors have combined to create
an extreme sellers market, defined by multiple offers, above listing price
offers, a short marketing cycle, and buyer concessions to get their offer
accepted. Nobody's sure if this market will continue at this pace. I'm certain
there are more homes in foreclosure than what we see in the market and I've
heard all kind of theories about what might be happening. The fact is, it's tough
to predict whether this is a temporary frenzy, or a long term trend.
Get Aliso Viejo Market info
My advice? If you're in the market to buy a home, don't get caught up in the emotion that this kind of market may bring. Determine the neighborhood you'd like to live in and a agree on a maximum value you want to spend to live there. Be aggressive on your first offer and don't wait for a counter offer to negotiate your maximum price. Make sure your agent understands what the seller and their agent is looking for in a strong offer and try to submit it as soon as you can. Be prepared to adjust your price, but not above a value you'd want to spend to live in the area.
Contact Troy Hooper â€“ The Hooper Group, Aliso Viejo CA Real Estate Agent for more information. You can call direct to 949-300-2464 or email homes@OCresidence.com.