Irvine is one of the most desirable housing markets in Southern California, but there are certain practices and customs you should learn so you can take full advantage of the local real estate opportunities.
If you’re considering buying a home in Irvine, here are some things you should do:
Hire a Real Estate Professional
Even if you see a For Sale by Owner listing, you should not approach this market without first hiring a real estate agent in Irvine. In 2015, the National Association of Realtors determined nationwide FSBO sales made just 8 percent of the national market, and most of them ended up closing with the help of a real estate professional anyway.
Get a Home Inspection
They are affordable and equivalent to hiring a mechanic to look at a used car you are planning to buy. Home inspections tell you the actual condition of the listing right down to the spots you can’t see.
Shop Around and Take Your Time
Even when market conditions benefit buyers, you should not take a position of moving into the first listing you look at. Be sure to explain to your realtor exactly what you are looking for and at what price. Irvine is a considerably large place with various communities that cater to diverse lifestyles. You want to be sure you are making the right choice.
Whether you’re looking at single-family homes, townhomes, or condos for sale in Irvine, here are some things you should not do:
Make Major Credit Purchases
Now is not the time to get a car loan or to go on a shopping spree. If you happen to come into some extra money as you are looking for a home, deposit it and show it to your mortgage loan officer as being part of your cash reserves.
If for any reason you are not able to close in the first three months of 2017, you should not give up completely. The Trump administration is expected to introduce a fiscal stimulus plan that may raise housing prices a bit, but they should stabilize and even come down later in the year.
These tips are just scratching the surface of what you need to know about buying a home in Irvine, CA. For additional tips, or to learn about the various neighborhoods in Irvine, call 714-454-6304 today.