Why I sold my Orange County Home
Updated: Sep 1
I sold my Orange Country home!
Many realtors don't own a home. This job is like motherhood in the way that until you do it yourself, you don't really get it. You are not an expert and you cannot relate.
If your realtor is preaching, "buy buy buy" when they rent rent rent, allow me to introduce myself, my name is #SOLD!
I've been the single girl buyer who doesn't know how their story will go but knows she wants to make a good investment.
I've been the engaged seller who make $80,000 in three years by doing nothing but coming and going from my home. I slept in my savings account. It appreciated.
I've been the newlywed buyer who wanted a coastal home that was good for entertaining but had to go outside San Diego city limits to get all the boxes checked.
And as of late, I've been the seller with the world's most challenging escrow including an all cash offer with offshore money who simply disappeared. If anyone sees Mr. Zion flowing around Panama, he owes me $1 million dollars like two months ago and I'm not being cheeky.
My point is that I've been there. The only thing I haven't done is buy at full asking or sell at a loss. =)
I am a buyer.
I am a seller.
I am a wife.
I am a mother.
I am a Realtor and I'm really good at it.
So to answer the question I get so often; Why did I sell my nice big ocean view OC home perfectly situated at the end of a cul-de-sac? Because it was the right time in the market to do so. That's really all it takes for me to sell. We bought not even 1 year prior, and I knew it would appreciate nicely but didn't anticipate it being this quick. Now I thought I'd raise my child there, I really did. Not forever but for a while, you know? But when opportunity calls, I always answer, so there we were-FOR SALE.
And we sold. Fell out of escrow and we sold again. Fell out of escrow and alas, we sold AGAIN, to one of the most frustrating buyers I have ever had the displeasure of working with. Actually all three of our buyers were pretty bad. So we went ahead and moved before the sale was closed. Having inspectors and buyers constantly in and out of your home with a 4 month old is a burden I'd with on no one. So we posted up at our family's beach house and decompressed. I call it the time when I detoxed pregnancy. I just let it all calm down, you know?
And after hurdle after hurdle, the sale did close and we successfully closed the chapter on our Dana Point home, net positive.
I think there are many ways to make money on real estate but I don't know how to make money as a renter. I'd rather buy and sell within a year than throw away money. Had I rented that home it'd be $5,000/month at 12 months which is a whopping $60,000! Instead I net more than that all because I bought. I lived in the same home, paying around the same monthly, but I gained instead of lost. There's really no pitch that easier to explain than that. And now I had done this twice so I feel super confident in advising others.
The other advise I'd like to give is that you've got to stay loose with your real estate. The second you fall head over heels in love with a property, you've lost. You now will make decisions based on emotion which is never the way to make a profit. In my household, we constantly speak on the things we like about where we live and the things we'd change, if the chance arose. This way we know what to keep an eye out for. We are never married to a property. We settle in and hang all of our photos but we never see ourselves there forever. We see ourselves in a home as long as it serves us. Until we see a clear path to get an even better life. My Mother refused to sell our childhood home to anyone who didn't have kids. She really wanted a family to live there and have the life we did. She ended up taking a lower offer just because of that. That's emotional and this is a piece of property that has no emotion towards you. You know what I have emotion for? My bank account. All the feels, you know?
For the next home I bought see the post https://www.luxulane.com/post/i-built-a-house-and-i-liked-it
Until next time, may all of your sales be for capital gains,