The Seven Secrets for Saving Money on Laguna Beach Real Estate

I have an enormous respect for your money. I really do. That’s why I want to share 7 Secrets that my team and I have learned during our fourteen-plus years in the Laguna Beach real estate industry. This powerful body of knowledge applies to any market, whether you’re selling a Laguna Beach home, a Miami Beach home, or purchasing a New York City condo. Give these secrets a chance. You’ll discover a flawlessly beautiful logic in every one of them.

Not for Buyers Only

Sellers reading these secrets will learn the importance of selling a home within 30 days. An expeditious sale assures you the highest and best possible price. Perhaps you’ve even heard this before. Well, believe me, it is the absolute truth. A buyer eying a home that’s passed the 30-day mark will consider your property a potential steal. And their low bid will reflect this merciless evaluation.

Of all these secrets, the seventh is the most important and most applicable to the current marketplace. Read it until it sinks in well. This secret alone will save you a small fortune.

The Seven Secrets

1. Aim for a Laguna Beach home, or any home, that’s been sitting on the market 90 days or longer. If this is the case, the owners probably have been enduring the excruciating selling process for between 3 and 12 months. And they’re now experiencing a blend of frustration and utter exhaustion I call ‘seller’s fatigue’. Any owner who’s reached this point of no return is more than eager to negotiate.

2. Watch this same home for prices DECREASES. This is a major giveaway that the owner is starving for a sale. If the seller has not taken any price-reducing action, he or she still thinks their home is worth far more than the market will bear. But if you do see price dips, sharpen your claws and get ready to pounce.

3. Have your Laguna Beach agent learn the amount owed on the home. The less indebtedness to the bank, the more a buyer can save. Equity gives sellers room to negotiate. An eager seller can give up some of this equity to bring the price down. In order to get this information, your agent will need to call the title company or a lawyer if you’re in a state that requires an attorney.

4. Vacated homes are gold. An empty house is a telltale sign that the owners are probably paying a double mortgage -- each and every month. What’s worse than paying for a home you’re not even living in? Ouch!

5. Does the house need paint and carpeting? And are these deficiencies a buyer deterrent? This is especially true if the carpet is green. It is a law of nature -- buyers generally despise green carpeting. Therefore, hope the carpeting in your chosen home is this unattractive shade. Because you’ll probably want to tear it out. Of course, it really doesn’t matter what color it is. You’ll be replacing it anyway. In actuality, it is far less expensive for a seller to make a home more attractive with new paint and carpeting. When they foolishly avoid these steps to bring the home’s looks up to standard, they’re creating another reason for the house to stall in the marketplace. All of which gives you a golden opportunity to save money during negotiations.

6. Have your agent ask the listing agent if other Realtors are still showing the house. If they are not, consider it an excellent sign. Clearly, the house isn’t drawing a lot of interest from competing buyers. If you’re really in love with the house, be sure your agent becomes the new best friend of the selling agent. The latter can be an excellent source of valuable information, which you can use in your favor. A selling agent can provide invaluable answers to questions such as:

• Have they had any offers?
• What price was rejected?
• What is the seller’s emotional state?
• Does the seller have a place to go?
• Did the seller buy another home? (This is the best one.)

7. The BEST Secret of all -- ALWAYS NEGOTIATE YOUR DEALS IN THE 4th QUARTER. THAT’S BECAUSE NEW HOUSING INVENTORY WILL BE ARRIVING IN FEBRUARY. IT DOESN’T MATTER IF THE MARKET IS HOT OR COLD. IF A HOME HAS BEEN ON THE MARKET FOR MORE THAN 90 DAYS, SELLERS ARE FED UP WITH THE PHONE CALLS, OPEN HOUSES, APPOINTMENTS FOR SHOWINGS, AND MOST OF ALL – GETTING THAT HOME BUYER-READY. THEY WANT OUT!

Remember, you have to close by December 31 so the seller feels he or she is starting the new year with a fresh, clean slate. So start the process in September, find your home by October, and close in December. That’s the secret for your very best deal.

Whether you’re a buyer or seller, these seven secrets are your key to success. Hold on to them. Share them. They will serve you well, whoever you are.

If you’d like to learn more about these Seven Secrets or about getting the ultimate deal on a Laguna Beach home, we’re ready to assist you. As the area’s premier coastal property experts, Hillary Caston & Associates can help you discover the endless golden opportunities here in the Laguna Beach Real Estate market. Connect with our team now at 949.922.8490 or hillary@thecoastalpropertyexperts.com.

Until next time, keep it classy, Laguna.