3 WAYS TO SELL BEFORE SPRING - BEAT THE RUSH!!!

As we all know, most people are putting their homes on the market in the Spring and Summer.  This is typical, because people don't want to disrupt their kids' schooling and it's better to make the move when the kids are out of school. 

The problem with waiting until Spring or Summer is that you are competing with SO many other home owners who are doing the same thing.  And, if my real estate math is correct  LOTS OF HOMES = PICKY BUYERS + COMPETITION.  Why be part of all that?  Right now, we still have a shortage of nice properties for tons of buyers who are smart enough to take advantage of the low interest rates and bottomed out market. 

So, Nic, how do I do that if I have three kids in school?

  Put your home on the market now.  It should take anywhere from 1 week to 2 months to get a good offer.  If it happens too fast (like in 1 week), then here are a couple of options:

    1.  Counter back the buyers with a longer escrow.  Instead of the typical 30 days, ask for 60 days...or longer.  If they really want the home, they'll wait.  I personally don't like longer escrows because so much can go wrong and it gives the buyer time to see other options out there.  However, in order to beat the "rush" or "flood" of homes that will come on the market in Spring and Summer, this may be the only way to get the home under contract and still be able to extend it out until the kids are out of school.

  2.  Even better, ask for a "Lease Back."  This is where you stay in your home AFTER it has closed escrow and pay the new owner rent until a specified time that you have to be out.  This is a good scenario when there is a Buyer who really doesn't care if they get in the home in 30 days or in 4 months.  A Lease Back is a short-term lease and is easily taken care of through the use of a C.A.R. form. 

If Plan 1 or Plan 2 don't work, then the only other way to sell now would be to move to a temporary location (like Residence Inn), have the money in the bank and be looking.  You'll be in good position, non-contingent and ready to go. 

For more information on Placentia Homes, Yorba Linda Homes, Brea Homes, Fullerton Homes, Orange Homes, or Anaheim Hills homes, visit http://www.nicpetrossi.com/

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BREA, PLACENTIA, YORBA LINDA and ANAHEIM HILLS...Which city wins the "Best Ratio for Homes in Escrow" Contest?

As of May 10th, 2010... How many homes are actually on the market in Placentia, Yorba Linda, Anaheim Hills and Brea? (When I say homes, I'm referring to detached single family residences, or SFR's).

Here's the breakdown...you may be a little surprised at the ratios:

PLACENTIA (A Pleasant Place to Live)
125 TOTAL homes on the market
75 of these are ACTIVE and
50 are IN ESCROW

For you statisticians out there, that's 40% of all single family homes on the market in Placentia are currently IN ESCROW. That's really a very high percentage.

YORBA LINDA (The Land of Gracious Living)

372 TOTAL homes on the market
234 of these are ACTIVE and
138 are IN ESCROW

The ratio? That's 37% of all the homes on the market are in escrow. Again, not bad, considering it was 12% back in 2007.

BREA

110 TOTAL homes on the market
63 of these are ACTIVE and
47 are IN ESCROW

The ratio for Brea? 43% of the homes on the market are in escrow. The highest percentage out of Placentia, Yorba Linda and Brea, but not by much.

ANAHEIM HILLS

189 TOTAL homes on the market
118 of these are ACTIVE and
71 are IN ESCROW

Drum roll please.....38% of all Anaheim Hills detached SFR's are in escrow as of today. So, the city rankings: #1 Brea, #2 Placentia, #3 Anaheim Hills and #4 Yorba Linda.

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