Simon Quinon…, Real Estate Pro in Buena Park, CA

What is the average time a buyer buys a home from the time they are qualified?

Asked by Simon Quinones, Buena Park, CA Fri Jul 11, 2014

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6
Expect an average of 12 weeks to find your home. (Per the 2015 California Association of Realtors Home Buyer Survey.) That being said it really can vary due to the lack of home inventory causing high competition, your personal flexibility, your financing, etc. I suggest working with an agent who has many good leads on pocket listings (homes not yet on the market.) This way you will be competing with fewer homebuyers.
0 votes Thank Flag Link Wed Jul 29, 2015
The shortest for me was (2) months the longest was a family looking for one year. It does take time to find the right thing. It really depends upon the buyers, the amount they qualify for and their needs.
0 votes Thank Flag Link Sun Jul 13, 2014
I think there are too many variables to get a realistic average. My wife an I personally took about 10 months but 3 of those months was being on a waiting list for a new house and the other months we actively put offers on houses. We put probably put in 30 offers before we finally had an accepted offer.
0 votes Thank Flag Link Sun Jul 13, 2014
Hi Simon,

The most recent experience I had was I showed my current buyers two homes on the first day and they put in an offer that very next day on the 1st house I showed them. Of course this doesn't always happen. My other current buyer has been looking for 3 months.
It has a lot to do with the reasons they are buying.
0 votes Thank Flag Link Sat Jul 12, 2014
I've had buyers who bought the first time out, buyers who only saw one place and bought it, and buyers who've looked for over a year.
0 votes Thank Flag Link Sat Jul 12, 2014
Hi Simon,

The answer to that question varies. I don't think you can say there's an average. I have some buyers who will go right out and find a home immediately and others who will take months. I have a few buyers out there who have been "looking" for more than 3 months. I think it depends on how motivated they are and the availability of homes that meet their search criteria.

Best wishes,

Elva A. Wormley
Mortgage Consultant
32+ Years Experience
Office: (408) 615-8500
C2 Financial Corporation
2845 Moorpark Avenue, Suite 209
San Jose, CA 95128
NMLS #331981
0 votes Thank Flag Link Sat Jul 12, 2014
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