Why People Buy and Sell Orange County Real Estate
We all know the reasons that people buy a home — more space, more freedom, swapping rent payments for equity — but the reasons why Orange County homeowners sell their homes can be more complicated… right? Not quite! In fact, the reasons an Orange County homeowner might sell their home boil down to six simple points: the six “D’s.”
You undoubtedly know some of the six D’s already, but first let’s test your real estate IQ, if you don’t mind. I bet you do know the three most important things in determining the price of real estate. Sure you do! Let me jog your memory and give you the first one: location. Yes, location is the first and most important thing to ask in real estate. Where is the property located?
How about the second and third most important factors involved in pricing a property? Give up? Number two is location, and — drum-roll please — number three is… location! Yes, the three most important factors in establishing the value of a property are location, location, location. Sound familiar? Of course, other factors certainly come into play, but the point of repeating the word “location” three times is to emphasize that the true value of a property — the real property, the land, not the house itself — is based on where it is located more than anything else. Structures are built, they age, they are repaired and replaced, but the land is forever. That’s price in a nutshell.
So how about selling? Do you think you know why real estate is put on the market? Can you pinpoint the “six D’s” of real estate? Let’s try to do this together. This time there’s no gimmick (the same word doesn’t repeat six times), but each word does start with the letter D. They are easy.
Reasons to Sell: The Six D’s
1. The first reason a property is put on the market is Death. When a death occurs, many times the house is sold, or at least the option of selling is considered. Death is unfortunately a very difficult time in life, but it’s one we all must face with our loved ones.
2. The second D is Divorce. Again, this is an emotionally stressful time. A divorcing couple will often choose to sell rather than negotiate for one party to stay in the property.
3. The third D is Disability, yet another difficult situation. Homeowners facing disability are often met with the very challenging prospect of selling in order to find more suitable accommodations.
4. The fourth D is Decrease in Income. This can be due to many things, including the loss of a job, a cut in pay, one spouse quitting to stay at home with the kids, and so on. The inability to keep up with expenses is another major reason why homeowners might put their home on the market.
5. The fifth D is Distance. This can mean that there is too great of a distance between the homeowner and a new job, between the homeowner and a child or grandchild, or between the homeowner and sunshine! When a homeowner decides that there is too great a distance between their home and happiness, it’s time to put the home on the market.
6. The sixth and final reason for a property being listed for sale is Default. A default occurs when mortgage payments have become too difficult to handle. This can sometimes be related to any of the first five D’s, including loss of a job, a health crisis, death or divorce. Upon default, a property is typically sold on the market via a short sale, or even lost in foreclosure.
That’s all six D’s! How did you do? Did you guess them all? I’m sure you got at least a few.
Think about all your friends, family, and colleagues who have sold a home. Chances are, you can fit the motivating factors behind their home sale into one or more of these six categories. Who knew that the real estate business could be reduced to just nine letters! The three L’s (Location, Location, Location), and the six D’s (Death, Divorce, Disability, Decrease in Income, Distance, Default).
Choosing Your Orange County Real Estate Agent Matters. A Lot.
If you’re looking to buy or sell a home in Orange County, you may be wondering what difference this all makes. How can one real estate professional or another influence the outcome of your transaction? When it comes to the three L’s, a good or bad agent makes no difference at all — the property is located where it is located. In regards to the six D’s, however, an experienced and thoughtful real estate agent makes all the difference.
Whether you are in the midst of a death in the family, a lost job, a divorce, or any of the other six D’s, each of these situations can be incredibly taxing and stressful. It is of the utmost importance to work with a caring, knowledgeable, determined real estate agent to get the job done with the least amount of additional stress. You don’t need more fuel in the fire! The right real estate professional can make all of the difference between having a smooth transaction with minimal stress and a nightmare that drains more of your precious time, energy and money.
Managing stress in a real estate transaction comes down to experience, knowledge and care. You can pick a realtor for a variety of reasons, but the realtor can’t change the location of your property. It is more important to pick a realtor that has the wisdom and the character to help you get the results you need.
Your agent needs the experience to know how to navigate the complicated trail of legal paperwork in real estate, how to call people back and to take responsibility as a professional in the business. You need an agent who tells you honestly how the system works and then holds your hand through the entire process. You need an agent who would prefer to see your dreams become reality, rather than make a quick buck. Through the difficult “D” moments in your life, you will absolutely need an agent with the wisdom to guide you and provide the tools to make the right decisions. Your co-workers and neighbors need that as well. Why should anyone settle for less?
We Help Orange County Buyers and Sellers
At The Stavros Group, that’s what we provide. We’ve sold hundreds of homes in Orange County, and helped as many buyers and sellers through some of the biggest decisions of their lives. After successfully closing so many deals, we know his business, and we’ve seen it all. We know how to delve through a contract with a fine-tooth comb to catch little things that other agents might easily miss. We know how to market your property and expose it locally and globally through multiple marketing platforms. We know how to negotiate contracts to get you the best deal possible. Most importantly, we know how stressful your life can be during these times, and how important this six- or seven- or eight-figure transaction is to you.
Right you, you or someone you know may be experiencing one of the six D’s of real estate. It is unfortunate if it is one of the stressful D’s, where the pain and sorrow of the situation necessitates a sale. Let us help you, your loved ones, or your friends through this difficult time. Please don’t hesitate to reach out and start a no-pressure conversation. Let’s get to know each other. We’re ready to listen.
