The State of OC Real Estate

After several challenging years, prices have finally started to move upward. . . as much as 10% or more for 2012. This is true on Balboa Island as well as many other neighborhoods in the coastal area. Factors that are driving this rise include: the end of the recession and an improving economy, an acute inventory shortage, an increase in credible buyers—many buying with “all cash,” and buyers from abroad.

The rise in prices will, over time, expand inventory as owners who lost equity during the recession, begin to see a restoration of their assets along with many good values that are coming onto the market. The Spring 2013 market should see considerably more inventory.

Sellers often ask whether they should hold off putting their home on the market in the Fall and Winter and wait for Spring. My belief is that the holiday season is a great time to sell a home. There usually are less homes on the market during the holidays, but the buyers who are looking are more serious and motivated. Instead of shopping in the malls, they are looking for that one large purchase in which to enjoy every day of their life. With a positive attitude, I have found that November and December can be some of the most productive real estate months of the year.

Another question clients ask is whether they should hire an independent broker like me, or go with one of the large corporations. The beauty of being an independent broker is that I am independent; there is no bureaucracy here. I can make decisions or give advice without concerning myself with higher ups or a board of directors. Of course, a background as an attorney and experience as a trial attorney with the US Justice Department has given me the confidence to make decisions and bring the best negotiating skills to the business of real estate.

Besides independence, there are two other things that make a first class realtor. First is superior knowledge of the local market. I need to know more about Balboa Island and the neighboring environs than anyone else. And second: availability 24 hours a day. I answer the phone whenever it rings.

If you are thinking of buying or selling a home in the coastal area, please call me for the best real estate experience ever!

Connect with Don by calling (949) 675-4822, stop by Abrams Coastal Properties
on Balboa Island at 315 Marine Avenue in Newport Beach or visit www.abramscoastalproperties.com

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