Fullerton Homes For Sale - Market Update
Posted by Tony Leocadio Admin on Thursday, January 15th, 2009 at 8:00am.Fullerton Homes For Sale - Market Update
Today, Jan 15, 2009, there are currently 409 homes listed for sale in Fullerton. 56 of the homes are bank owned. 261 of them are detached single family houses.
There are 138 homes currently in escrow. 49 of those are bank repos.
21 homes have closed escrow so far this year. 8 of them are bank repos.
91 homes sold in Fullerton in December, 2008. 38 of them were bank repos. They sold in an average of 29 days for 101.60% of listing price. Most times, there are many competing buyers for these homes.
There are deals to be made in purchasing a bank owned home. Buyers need to be aware, however, that the homes will be sold in as-is condition with no repairs to be made. Sometimes, the bank won't even pay for termite repairs.
Half of my sales last year were from representing buyers in the purchase of bank repos. They were prepared to act quickly, were preapproved with a direct lender, had at least 10% down, and learned to offer asking price or more. When I say that they 'learned to offer', it's because it doesn't seem natural to offer full price. But writing low offers, and missing out on some nice homes, can get frustrating.
One of my clients decided to write an offer for $30,000 over asking price. He was happy as can be, as the purchase price was still $50,000 below market.
Great deals can also be made by finding the home you want with a motivated seller. I mean, they have to compete with the bank repos too.
See here for Fullerton Bank Owned Homes.
See here for all Fullerton Homes For Sale.
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