Most real estate transactions occur in the spring and summer months. Why?
- The holidays are over
- Homeowners have time to ready their homes for sale
- Kids are off for the summer
- The weather is better
So why buy a home in the winter? Because home sellers often need to sell sooner rather than later. Think about it… back to school, Halloween, Thanksgiving, Christmas, New Years all take time and energy away from the business of home selling. So it stands to reason that if a home is listed for sale in the late fall / winter, the homeowner probably has motivation to do so. Some of the reasons may be:
- A move out of the area for a new job / job transfer
- The homeowner has passed away
- The homeowners are going through a divorce and selling their joint assets
- A change in the homeowner’s financial stability
As a result, there are fewer homes on the market and they are priced more aggressively for a quick sale or there is more wiggle room on the price.
How does that impact South Orange County Real Estate? Laguna Beach, Monarch Beach, Dana Point, Laguna Niguel, San Juan Capistrano, San Clemente and other coastal areas are vacation destinations. There are 3 grand resorts in the area namely, The Ritz Carlton, The St. Regis in Monarch Beach and the Montage in Laguna Beach. Additionally, there are a plethora of boutique hotels as well as home rentals.
Think about spending upwards of $800 / night at a 4 or 5 star resort with multiple rooms for your family and friends. The about doing that several times a year. Think about long weekends. That can add up. And there is absolutely no financial benefit!
Buying a home in Coastal South Orange County in the late fall / winter months affords you the benefit of a better purchase price, tax breaks and even the opportunity to rent it out when you’re not using it to help pay for the mortgage. And you don’t need to lug your stuff with you every time you vacation.
If you’d like to explore purchasing a home in South Orange County, give me a call at 949-288-6777 and lets look at your options together.
Copyright The OC Coastal Realty Group
Garry Loss is an award winning REALTOR in South Orange County, CA specializing in real estate in Laguna Beach, Monarch Beach, Dana Point, Laguna Niguel, San Juan Capistrano, San Clemente and surrounding areas.