Is 2012 A Good Time To Buy A House In Laguna Beach?
Posted by Sam Smith on Wednesday, January 11th, 2012 at 8:24pm.
Many have asked if 2012 is a good time to buy a house in Laguna Beach. As real estate inventory in Laguna Beach is reaching record lows the supply and demand for real estate is reaching a new high. What does this mean for real estate prices? Our experts don't believe that we will see an increase in pricing for 2012 but a very competitive market for prime properties priced at market value and offering ocean views or located on the ocean front. We are currently seeing multiple buyers bidding one single properties especially in the short sale arena. Short Sales are becoming the dominant way to seize a great deal in Laguna Beach but there are good and bad points about doing a short sale. If you are patient and you act quickly when you see a good deal then being the first one in on a short sale is the smart thing to do. The bank will only look at one offer so make sure you offer is the one that is being presented to the bank. The bad side to short sales is that they take a lot of time and there is always unexpected things that come up that may force the buyer to come out pocket more than their offering price. The good news is that when you do get a short sale approval the bank will want to close right away. Be prepared with a pre-approval letter from your lender and make strong offers and your chances of getting approval at your offering price will be much greater. We also encourage you to work with a skilled short sale agent as with any real estate transaction you will have multiple issues that come up that will take an expert agent to handle.