subject: Newport Beach Short Sales In The Off Season [print this page] The off season is a great time to buy a home in the Newport Beach community. Most homes move in the spring and summer with interest and listings drying up during the colder months. However, the savvy real estate investor should not take this as a sign that there is nothing of value in such an environment. You can actually find the best deals you'll ever get on real estate during the times that are least expected. Take into account the poor real estate market and the crash of 2008, and you can see where opportunity could work to your advantage. Here is what you will want to look for in the off season in order to capitalize on the best homes at the best prices.
1) Motivated sellers
Motivated sellers, who list their homes in the off season, are more likely to take bottom dollar. Some are trying to avoid foreclosure, or simply wanting to unload a property that has become too costly for them to maintain. You are more likely to encounter a motivated seller at this time than at any other during the year, so take special interest in each and every listing at this time. From there, you can move on to the type of area it is located in and figure out what the best price to offer would be.
2) Short sale homes
Short sale homes are often available during the colder months, because motivated sellers cannot afford to call their shots for when they list a home. To avoid foreclosure, they have to get rid of a home as quickly as they can, and that means being willing to take less than what they owe. Lenders typically approve short sales because empty or foreclosed properties end up costing them more money over the long haul. Just make sure that you come prepared with your best offer, because once word gets out regarding a short sale, it isn't long before a deal closes.
3) Experience
Real estate agents are your best bet if you are hoping to get your offer for a short sale seen in time. They have experience sniffing out these properties, advising on best offers to present, and closing deals. Short sales often don't make it to the online listing stage, so it is highly important you get all the inside information that you can before taking advantage of an offer. From there, it's important that you don't put all your eggs in one basket. It can drive you mad. Instead make an offer and keep your eyes peeled for other opportunities.
By seeking out the three things above, you can find the deal of a lifetime while the rest of the real estate market is taking time off.
