Homes For Sale – Not On MLS
When it comes to Orange County real estate, the homes for sale lineup consist of homes that are called “on the market”. That means just that. They’re available for purchasing, being offered to buyers and, quite simply for sale. That makes the term “on the market” fairly straightforward and simple to understand.
By the same token, one would naturally assume that the terminology “off the market” would be just as simple. And, by and large, it would be were it not for the other commonly used real estate term, which is “off-market”. Consumers often confuse the two. This confusion can also be compounded by the facts surrounding the outcome of a Orange County real estate property being taken off the market, which often produces a number of varied results.
Contradictory real estate lingo aside, it really doesn’t take too much effort to sort out the difference between the two terms. For starters, any Orange County real estate property that is currently not on the market, but was actually listed previously, is said to be off the market. Hence, it will no longer be appearing in updated listings for Orange County real estate. This could be due to the owner deciding not to sell the home after all. Conversely, it could be off the market because its currently involved in the purchase process and the sellers obviously don’t want to keep showing it to new buyers.
Then again, if a listing displays the saying “under contract”, then effectively the property is off the market, but buyers with interest in it should keep watching it in the event that the sale fails to be completed. In addition, a seller could withdraw their property from the market if they feel that the market might not be active enough to justify their selling efforts currently. It could also mean that they have decided to keep their property for some reason due possibly to an unrelated event.
In today’s real estate market, which has become increasingly web-centric of late, off the market may not seem to be quite as clear-cut as in bygone eras. Due to the fact that the Internet forgets nothing, off the market properties could still keep popping up onscreen during an online search for Orange County real estate. This especially occurs when certain national sites fail at removing outdated listings in a timely manner. The good news is that your Orange County Realtor has the ability of keeping you up-to-date at all times on any local property’s status currently.
In some cases, though, off-market can be utilized as an off the market synonym. They might be used by a national website or two to describe properties that are upcoming although they haven’t been listed yet. This terminology is used more often to describe properties that are for sale, but are not going to be publicly advertised. The majority of prospective buyers won’t even be aware that those properties are available because they won’t even be included in the Orange County real estate listings.
Now, this may seem like kind of a crazy method for selling a home, but sometimes it is with good reason. Celebrities will often resort to this kind of arrangements with their broker for the purpose of discreetly selling their property because they are always fighting so hard to remain out of the limelight publicly. And, in some cases, high-end properties are silently proposed for sale to other brokers and they are referred to as “pocket-listings”. When the sale is successful, then it is referred to as an “off-market-sale”.
The fact of the matter is that you may want to look for or sell a piece of Orange County real estate rather discreetly, and being a celebrity isn’t necessary for feeling that way. No matter who you are, if you’re thinking about your options in real estate, a no-obligation consultation with me will be treated with the utmost confidentiality, so give me a call today so we can get started.