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How To Get A Good Deal On Laguna Beach Homes For Sale
Laguna Beach is an incredibly beautiful area, but it does come with a price tag that not everyone is able to afford. Properties in California can come and go quickly, and getting a good deal can be extremely hard unless you know how to shop like a pro. First-time home buyers are especially at risk for spending more money than they can reasonably afford on a property. With that being said, you really don’t have to give up hope on finding the property of your dreams for the right price.
Below, we will discuss some great tips and tricks to get Laguna Beach homes for sale at a steal! In fact, you may even discover that you have an affinity for scoring great properties at a fraction of the price and decide to flip them for a profit.
Check Out Foreclosure Auctions
One of the most common ways that people are scoring big on Laguna Beach homes for sale is by attending foreclosure auctions regularly. Since the homes were foreclosed on, you can end up getting them for a fraction of the original asking price as the bank just really wants their money back. Unfortunately, the downside to foreclosures can be the upfront costs and not knowing clearly what you’re getting yourself into.
There are many instances where the previous owners have vandalized the property as a form of revenge for the foreclosure. Since foreclosures can’t be inspected and are sold as-is, you have to take into consideration that there may be quite a few hidden costs that you didn’t count on. There could be foundation issues that weren’t talked about or plumbing problems that need to be addressed. At the end of the day, you need to weigh the consequences against the possibilities of owning a great home in Laguna Beach.
Build A Relationship With A Local Agent
Get an Agent to show you around the Laguna Beach and point out the pros and cons. A good Real Estate Agent will give you the truth and not hold back their opinion. If you have kids and are concerned about good schools in Laguna Beach be sure to ask your agent. Most Real Estate agents have or have had kids so they know the schools and should will know good schools. Property Specialties, Billy Long is very knowledgeable with Laguna Beach schools. A Real Estate agent with family first values is always a great choice to hire, they will understand your position and put their self in your shoes.
If you’re not sure you’re finding the home of your dreams or you’ve not seen anything you can remotely afford, the next best bet is to build a relationship with a local real estate agent. By getting to know a realtor in your area, he or she can alert you of properties that just came available on the market. More often than not, flippers get ahold of these properties well before anyone else gets a stab at them. By building the same type of a relationship with an agent, you can get great deals on Laguna Beach homes for sale.
Most sellers that are motivated enough are willing to negotiate the asking price of the home. Remember, even if you’re talking about a few thousand dollars, that’s less money you’re going to be spending over the years, especially when you factor in the interest rates of your loan.
The only downside to this type of a relationship is that you never know when the property of your dreams may pop up. It could be a week from now or months from now, so you really need to have a home base where you can wait out the fruits of your labor.
One of the biggest mistakes that any home buyer can make is to overstep their budget and purchase a home that they won’t be able to afford– especially in California! There are property taxes to take into consideration as well as HOA fees that can be crippling to someone that went above their budget. For that reason, if you wish to get a good deal on a home in Laguna Beach, it’s advisable to opt for fixer-uppers.
There’s definitely going to be some work involved in making the home work for your needs, but you can spend less on the initial property. In fact, if you have the skills to do some of the work yourself, you can save even more money while adding a great deal of value to your property. Overall, you can end up purchasing something in a great neighborhood for significantly less than comparable homes.
Even in this economy, getting a good deal on a home in California can be a hard task. However, if you keep your eyes peeled and you’re willing to do some legwork, you can definitely find a few properties that don’t cost an arm and a leg.