Lowest Price Laguna Beach Home For Sale In South Laguna Village Area

Posted by Sam Smith Team on Saturday, February 25th, 2012 at 11:07am.

As the Laguna Beach housing inventory starts to increase we are starting to see some really incredible prices on single family homes.  Take for example this South Laguna Village Home that just came on the market as a short sale for $459,900 that offers two bedrooms and an incredibly beach close location and is currently the lowest priced single family home for sale In Laguna Beach.  Keep in mind with short sale listings that the offering price is not necessarily the final price the bank will accept on a home.   Prices for real estate listings are typically negotiated at first between the listing broker and the seller of the home.  In a short sale process the price that is picked between the owner and the agent and then offered for sale at will be considered when the short sale offer is sent to the bank.  Banks do a lot of due diligence on their end to determine the estimated value of the home.  Banks are now started to hire 2 appraisers to give them an estimate on the home to get a better idea of the market value.  Often time one the appraisers will be a local real estate agent who will give a "Broker Price Opinion" or more commonly known as a "BPO."  These BPO's will be a rough estimate of value since the real estate agent will typically not be a licensed appraiser.  The 2nd appraisal will be typically done by a licensed appraiser who will do a thorough research on the home and recent sales within the last three months in that immediate area.  It's important not to list a home for sale that is too low in price since some banks have been known to reject the offer all together with no counter offers and negotiation.  Working with a skilled short sale agent who understands this will help you get the approval quicker without the stress of getting turned down.

Leave a Comment