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Top 5 Reasons Why People Hold Onto A Property Too Long In Orange County

There’s no doubt about it – real estate is a great investment. There is huge money-making potential when you own real estate. But how do you know if you’ve held a property too long? 

Reason 1. They are waiting for peak market to come back.

One of the reasons why people hold onto a property too long in Orange County, CA is that they are waiting for the prices of the real estate market to double, or triple! The real estate bubble of 2004-2005 is not bound to happen again any time soon. Some real estate owners are watching the market regularly and aren’t seeing the huge price increase they were hoping for. They watch it increase for a few years, then it corrects itself and goes back to where they bought it. They have a plan to make a certain percentage on their investment, but taking into account the annual taxes and the original investment, it is starting to become more money invested than they will ever see come back through a sale without the real estate peak market.

Reason 2. They inherited it from family

Another reason why people hold onto a property too long is that they inherited it from a really close family member, possibly their parents or grandparents. They want to hold onto that property forever to keep a piece of them in their lives, even though they never plan to live in it, rent it out, or build on a piece of vacant land. It might not even be in the same state! The annual taxes or homeowner’s association fees might even be a little too much for their budget, but they don’t care. They want to hold onto the property as long as possible. 

Reason 3. They plan to build

A more practical reason why people hold onto a property too long is that they plan to build on it. Maybe they’ve done a ton of research on the neighborhood and it’s a perfect fit for them and their family, but they can’t afford to build. Or maybe they can’t settle on the perfect floorplan for their dream home. They hang on to the dream of building, but never actually build. They do, however, pay taxes and maybe even homeowner’s association fees, but they hold on to the property with hopes that one day they will actually build their house.

Reason 4. They want too much money

A very common reason why people hold onto a property too long in Orange County, CA is very simple: they want too much money. They have an unrealistic idea of what they’re property is worth, and are not interested in selling for less than their ideal number. The sellers that have their house listed way over market value probably really don’t want to sell and will be insulted at anything less than their unrealistic price tag.

Reason 5. They have fond memories

Another reason why people hold onto a property too long is that they might have really fond memories. Emotions are hard to deny. Maybe their grandmother lived there and they grew up in the kitchen making pumpkin pies for Thanksgiving with her, or learning how to make pistachio thumbprint cookies in the dining nook. Maybe it was their first house as a married couple and have lots of happy memories cuddling in the den watching movies. Maybe it’s the house their children grew up in and they made notches in the door frame marking their growth. These are all extremely strong emotions to override and they are understandable reasons why people hold onto a property too long in Orange County, CA.

If you think you might be holding onto a property too long, send us a message or give H&M Realty Group a call at 949-625-4533 to discuss your options in Orange County, CA.

Joe

Broker/Realtor/Investor/Mentor (41 years experience) Specialties: Buyer's Agent, Listing Agent, Foreclosure, Short-Sale, Property Management, Landlord I'm a Full Time Real Estate Professional, house flipper and mentor to many of my clients. I am here to help you get top dollar for your home or get you the best price for a home that you are going to live in. I have over 40 years of real estate experience for you to draw on and actively list and sell over 20 homes a year. I have sold over 600+ homes in the last ten years alone. I am a very skillful negotiator and will work diligently to help you realize the best possible price when buying or selling your home. With my Exclusive Home Acquisition & Sales System, I can find the Right Home for You! I have access to homes no other Realtor will show you. I can show you how to save an average of $10,000.00 on the purchase price. We will find a home that fits your needs, in a neighborhood that suits your style. If you are selling your home then I can bring all the professionals to you. I always include professional photos in ALL my listings. I have contractors standing by to assist with those upgrades if needed. I can also quickly get you ALL CASH offers for your home if you desire. My marketing surpasses all other agents. It begins with extensive internet advertising to hundreds of websites throughout the world. I do direct mail marketing for you home and also knock on doors in your neighborhood when I am holding an open house. I hold you home open to expose it to as many buyers as possible. My Exclusive program is designed to sell your home for Top Dollar in Any market. I am an experienced flipper here in Orange County and therefore can offer you my over 40 years of real estate experience. The information is available to you at no charge! If you like what you see, please call me and setup Your Free Consultation.

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