With home prices and interest rates on the rise, you’re likely to assume that the cost of that next Costa Mesa home you’re thinking about buying has made it a financial stretch—especially compared with “the good old days.” But news stories tend to omit the effect of rising incomes and actual inflation on the real cost of a home in today’s market—which turns out to be something of a bargain! A recent calculation may not hold true for everyone, of course—nor does it apply to the cost of every Costa Mesa home—but the details make sense when you think about them. The comparisons are from a study by Zillow Research on housing affordability across the U.S. Researchers were looking into how much havoc the rise in U.S. mortgage interest rates has wreaked on
We are built on a philosophy of Heritage & Hustle L3 is a full service real estate agency with a regional office located in the heart of #CostaMesa, offering a wide-array of custom services to meet their clients’ needs with roots in the community since 1976. It’s L3 mission to provide trusted, convenient, responsive service to ensure clients enjoy their real estate experience. L3 was originally formed to offer personal, concierge-level service as an alternative to the large, nationally based real estate
The experts seem to have gotten it slightly wrong. Costa Mesa real estate observers always expect a surge in activity when the spring buying season gets underway—an annual phenomenon that’s frequently accompanied by an uptick in prices paid. Because of optimism about the national economy and the ongoing nationwide shortage of homes for sale, a continuation of last year’s gradual rise in residential prices had been what the experts expected. Last week, if CNBC’s Realty Check has it right, those predicted “gradual” price rises took an abrupt lurch upward. “Home prices just took the biggest jump in four years” was the headline, backed up by the new numbers: a surge in March’s U.S. median home prices of 8.9% compared with last year. Costa Mesa homeowners
We are built on a philosophy of Heritage & Hustle L3 is a full service real estate agency with a regional office located in the heart of #CostaMesa offering a wide-array of custom services to meet their clients’ needs with roots in the community since 1976. It’s L3 mission to provide trusted, convenient, responsive service to ensure clients enjoy their real estate experience. L3 was
For many typical Huntington Beach breadwinners, last week’s stock market gyrations undoubtedly revived feelings that had been largely absent for quite a while: retirement jitters. Nearly a quarter of working Americans own Individual Retirement Accounts—but since most IRAs’ values fluctuate considerably with the ups and downs of Wall Street, when major indexes officially enter correction territory (as the New York Times reported last Thursday), savers’ anxiety levels head toward redline territory. That’s too bad because one of the principal purposes of saving for retirement is to create a secure feeling about the future. Even if the financial pundits seem undismayed by all the correction territory chitchat, those feelings can begin to evaporate.
“Circumlocution” —the hefty word for “beating around the bush”—describes what the national
real estate news feeds have been practicing for a while when it comes to the state of the marketplace. Until recently, most analysts seemed reluctant to call this spring’s U.S. lineup a “sellers market”—perhaps because the phrase might discourage would-be buyers. That began to change last month.
As the week came to a close, Costa Mesa homeowners who’ve been putting off their own decisions about whether to list their properties could find ample reasons for acting. Not only was that “sellers market” label showing up more often, but a host of supporting reasons had appeared in month-end reports:
Compared with the last quarter of 2017, the percentage of