Orange County is consistently voted as one of the best places to live, the Los Alamitos community of Rossmoor is a unique real estate opportunity.
But it’s not just the perfect SoCal weather and scenery that attracts homeowners and real estate investors to Rossmoor.
Nextdoor, Seal Beach is also home to the first gated retirement community in the United States — Leisure World. And the picturesque community has been drawing in retirees ever since.
Let’s take a closer look at the Rossmoor real estate trends impacting buyers and sellers alike.
According to the latest Rossmoor real estate trends, this area is somewhat competitive with advantages for both buyers and sellers.
Here’s the current breakdown:
One of the first questions to ask is whether housing prices are rising or falling.
Because housing prices have been historically high in California, the market doesn’t swing too hard in the buyer’s favor. However, recent forecasts show that’s changing as sellers are starting to cut prices to attract buyers to bite.
Furthermore, according to recent real estate forecasts, Orange County housing sales are projecting downward, falling by nearly 21%.
Overall, Southern California has seen one of its largest housing sales decline in almost a decade. So as it stands, buyers looking to retire in Rossmoor have a slight advantage in this current real estate climate.
However, homes sales in Los Alamitos alone have increased by 11%, which also gives Rossmoor home sellers some leverage.
Because trends are slightly pointing to a buyer’s market, Rossmoor would be considered a lukewarm market – neither a hot seller’s market or a frigid cold buyer’s market.
You have room to negotiate but you need to act quick. This lukewarm market won’t last forever and Rossmoor’s is starting to heat up for sellers as Los Alamitos home sales increase into 2019.
Because there’s slightly more supply than demand, this is the time when serious home sellers are willing to negotiate.
If you see a home you like, take action and call your real estate agent right away to start the process.
What do buyers do in a cold or lukewarm real estate market?
The current median home price listing for Rossmoor real estate stands at just under one to two million dollars. However, the median sale price is just over 1 million.
Rossmoor home values are still strong and this lukewarm market favors high-income retirees most. Because you have buyers ready to spend, one of your biggest challenges is attracting these serious buyers.
One of the first things that you need to do is scrutinize your pricing strategy. If you’ve been trying to sell a home on your own, your listing price may be scaring away buyers without realizing it.
Other problems you can face when selling a home on your own arm is mishandling negotiations or the wrong home staging.
Therefore, if your home has been on the market for too long. It’s probably time to call a real estate professional to help you hone in on the right price, look, and buyers for your home.
Aside from choosing a real estate agent and the right listing price, there are other things you can do to attract buyers without setting your price too low.
The right amenities are extremely important to the Rossmoor real estate buyer. For someone retiring in Rossmoor, it’s important to have a home that’s easily accessible and functional for senior citizens.
Here are several in-demand housing upgrades for seniors:
The less your buyer has to upgrade the home, the better. Installing these fixtures beforehand can help you sell your home quickly to a senior buyer.
Aesthetic upgrades to consider include landscaping, new outdoor lighting, repaved driveways, patio decoration, fresh planters, and decorative accessibility ramps.
Now that you understand the current climate of Rossmoor real estate, let’s try to predict what’s on the horizon.
While we may not have a crystal ball, here’s what many experts are predicting for the California real estate market in 2019:
According to the Orange County Register, expect a Statewide decline in home sales. While this may sound like bad news for sellers, it’s not exactly great news for buyers either.
Forecasts also show that housing prices will continue to rise through 2019 and Beyond. In fact, the median home price in California is expected to rise from approximately $575,000 to $593,000.
For home sellers in Rossmoor, this could be an indicator that buyers are still willing to wait on the sidelines for a better price. Therefore, you may not have those lightning-fast sales as years prior.
However, as these housing bidding wars subside, expect senior buyers to warm up again to California real estate. The market is essentially “calming down” which sends a more neutral signal to both buyers and sellers in California.
Rossmoor is a hot spot for retirees. That’s why the growing retirement population is one of the most consequential trends impacting Rossmoor real estate.
As California’s population ages, researchers expect more than a million seniors will require assistance of some kind. This is because the youngest baby boomer generation will officially hit retirement age by 2030.
This trend will continue to make Rossmoor a sought-after location and long-term investment opportunity for businesses, retirees, and families.
Now that you have a solid idea of Rossmoor real estate and what’s to come, your next step is to take action.
Take advantage of all the resources available to you. Like this handy guide and more tips and tricks from the pros.
Rather talk to a real live Human? We don’t blame you. Experienced real estate agents are standing by waiting to answer any questions you may have.
by Kelly Laird Smith, CA BRE #01359555
Pattie, Kelly, Wink & Associates
(562) 522-5173 (m)