You would think shopping for San Clemente homes for salein today's San Clemente Real
Estate market that buyers would have lots of choices and hand pick they very best properties at the best prices. If you are familiar with the local San Clemente marketplace then you know the large majority of homes for sale are short sale listings.
What this means to you as a San Clemente home buyer is that you will have to wait. Typically, most short sale homes will take 3-6 months for an approval and only one offer is submitted to the bank. So if you are not the very first offer that is submitted to the bank, your chances of getting the property are very slim. In addition, most San Clemente real estate agents keep the home on the MLS (Multiple Listing Service) as "Active" even though they have accepted an offer and submitted to the bank. They justify this by trying to round up additional "back-up" offers in case the current buyer where to back out during the approval process.
Making offers on short sales is too easy in my experience. It doesn't cost anything to submit an offer as the banks only want a copy of a personal check and a pre-qualification letter from the bank. Most buyers in today's San Clemente Real Estate marketplace will make multiple offers on multiple properties because it's FREE. The personal check's are never cashed unless the bank gives a formal written approval but that typically doesn't happen until 3-6 months have passed.
The most frustrating part is buyers will call us and let us know they have found a great deal on the Interent and my first question typically will be "Is it a short sale?" I've learned the hard way that most "good deals" have already had an offer submitted to the bank even though it shows "active" in the MLS.
The best way to find a home in today's market is to speak with a local San Clemente Realtor that is a full time real estate agent and who lives and works in the San Clemente area. You will find the best deals working with an agent who understands the San Clemente Real Estate marketplace.