5 Things To Keep in Mind When Buying a Home – Orange Coast Magazine

Kimberly Schulze, co-owner of Wise Choices Realty in Aliso Viejo, shares tips.

5 Things To Keep in Mind When Buying a Home
Photo by Tierra Mallorca on Unsplash

1
Get preapproved
“Suppose you fall in love with a house but don’t have a secured loan ready to go. In today’s low-inventory market, by the time you get your loan paperwork done, someone else has snatched up the property.”

2
Know the competition
“People need to understand how crazy the current market is. The inventory is lower than normal right now, so there’s more competition for the properties that are available. Sellers are getting multiple offers a day. Buyers who come in offering only asking price are likely going to lose the house.”

3
Know the pandemic’s impact
“Folks have been living with their extended families for a while now. With some restrictions being lifted, they feel now’s the time to get a bigger house. Or they’re getting a divorce as in, ‘I’ve been cooped up in this house with this person all year’ and they need a new place.”

4
Do your homework
“Buyers can best help themselves by doing their research before contacting a realtor. Less working hours for the agent means more savings for the client. Doing your homework ahead of time is like scratching off a winning lottery ticket. Suddenly you’ve got money to get that new carpet.”

5
Keep calm
“Agents deal with all aspects of home buying and selling. Appraisals, repairs, negotiations … it’s a lot. Buyers deal with all that plus the emotions. Some clients panic and end up canceling the deal only to come back a week later saying they’ve changed their minds. But by then, the house is gone. Take deep breaths and work with your agent. That’s the fastest way I know to getting the keys to your new home.”

Median Sold Home Prices by City
Compiled by Hannah Dilanchyan (Source: realtor.com (February 2021)

Aliso Viejo • newest city

$675K

Anaheim • most populous city

$700K

Brea

$805K

Buena Park

$685K

Costa Mesa • official motto is “City of the Arts”

$949K

Cypress

$770K

Dana Point • the Whale Watching Capital of the World

$1.3M

Fountain Valley

$836K

Fullerton • considered the birthplace of the electric guitar

$719K

Garden Grove

$640K

Huntington Beach • has the only beach where dogs can be off leash

$915K

Irvine • Its park system is ranked seventh in the nation.

$899K

La Habra

$557K

La Palma • the smallest city by size at 1.8 square meters

$900K

Laguna Beach • more than 3 million visitors annually

$2.4M

Laguna Hills

$835K

Laguna Niguel • one-third of the land is designated open space

$800K

Laguna Woods • 90 percent consists of a retirement community

$300K

Lake Forest

$660K

Los Alamitos

$822K

Mission Viejo

$805K

Newport Beach • 10 miles of coastline

$2.2M

Orange • The Shaffer house is the city’s oldest home, built in 1874.

$775K

Placentia

$728K

Rancho Santa Margarita

$816K

San Clemente

$1.2M

San Juan Capistrano • oldest city

$1.1M

Santa Ana • home to a 20-acre zoo

$620K

Seal Beach • listings range from $160K to $4.2M

$252K

Stanton

$503K

Tustin

$714K

Villa Park • least-populous city

$1.6M

Westminster • home to Little Saigon

$810K

Yorba Linda • has dozens of horse trails

$1.1M