Southern California Real Estate Market is Heating Up!
Late spring and summer are traditionally the best times for homeowners to sell their homes. This summer will be no exception. Buyers seem to be everywhere. Investors, Cash buyers, FHA, VA, Conventional, you name it buyers seem to be pouncing on any listing that comes onto the market. It is not uncommon to have bidding wars amongst prospective buyers. Even investors, who for years low-balled sellers due to the surplus of inventory and lack of buyers, are now submitting offers at the list price or above. The process can be stressful on buyers. Many buyers, frustrated with the stiff competition for these homes, appear to be prepared to offer whatever it will take to get their offers accepted. Even buying agents are becoming more and more aggressive, and creative for that matter, at trying to get their clients’ offers accepted. The lack of inventory, low interest rates and a surplus of buyers has created a very hot real estate market. The amount of traffic attending open houses held by Realtors® really demonstrates the sheer number of potential home buyers. On Saturday, May 11, 2013 Michael Gaddis of Michael Gaddis, J.D. Realty Group conducted an open house at 780 Aldea Dr. in the Oceanside Community of Sonoma Hills. During the 5 hour open house twenty-two potential buyers stopped by to view the property; a staggering number considering where the real estate market was just one year ago. Similarly, on Saturday, June 15, 2013, Michael Gaddis conducted an open house at 7820 Serenity Falls RD in Eastvale, CA. During the open house which was held from 9:00am until 5:00pm over 40 prospective buyers visited the property resulting in over 30 submitted offers! Homeowners that have been waiting for the right time to sell their home might want to consider listing their property while the market is hot.