BobPhillips-RE wrote:
Hi Equityseller, Calling our Orange County real estate market a "summer" market, is obviously a misnomer.
Let's just say that the best "selling season" typically starts around Super Bowl time, ( Although it started earlier this year.) and develops steam into the summer months - typically late July thru early August. During that 6 month stretch - in a normal year, not influenced by tax credits - I would imagine that 60-70% of a year's sales actually take place.
This year we are already starting to have a higher percentage than usual, of houses going into escrow, and due to the already lower inventory, that SHOULD bode well for you, as a seller, anytime over the next 4 or 5 months. In my opinion, if you wait a couple of months, until at least April, and then put your house on the market, you will probably be able to take advantage of the groundswell, which is just starting, and which SHOULD result in prices being slightly higher, than they are now.
If you wait too long, say into July, you will probably miss the boat, and be following a slightly descending market, that typically starts in September, and nudges downward through the holidays - because there are usually fewer buyers, as we move into the fall.
Just out of curiosity, did you ever add that second bathroom to your house? That would probably help net you a higher price, as well.
One last thing. If you are truly an equity seller, you SHOULD be able to hold out for a slightly higher price than distressed properties being offered around you. Buyers will frequently pay a slight premium for a property that they buy with a definite close of escrow date, which they cannot obtain on most short sale listings.
Good luck on making your decision.
From what I see on OC graphs for listing and selling activity tracked by Redfin, the OC buying season starts an uptick in April and seems to be getting lots of steam in May for buyer actually buying houses....It looks like sellers begin listing houses in increasing volume in January, with the pace steadily increasing to around July before tapering off again through the end of the year.
I sure don't see any indication of it starting already....both listings and sold volume seems to be at or near 12 month lows.
| 5,722 houses for sale: |  12% m-o-m |
| 3,303 condos for sale: | 11% m-o-m |
