Last week, Costa Mesa residents who found themselves at any stage of preparing to buy or sell Costa Mesa homes had to have been motivated by what came out of Washington. Last Wednesday was the day the Federal Reserve officials were set to announce their new target for the benchmark federal funds rate. That’s the key trigger for future Costa Mesa home loan rates, which largely determine how attractive (or not) upcoming loan packages offers will be. Since any rise in rates raises monthly payment amounts—even if the underlying size of the loan remains the same—potential buyers and sellers have reason to watch what the Fed does with varying degrees of apprehension. Lately, strong economic performance has made it increasingly likely that rate rises will be forthcoming—and in its announcement, phrases like, “the economy is growing at a strong pace” were included. Earlier pronouncements have strongly indicated that three or four target raises are likely this year. So far, there have been two. The news was encouraging for those with homes currently on the market, or soon to list—as well as for those looking to buy. Not only did the Open Market Committee announce that the target rate would remain unchanged; they also indicated a raise would likely be forthcoming soon. In other words, Costa Mesa’s current historically low home loan rates won’t be nudged upward by the Fed, but only for the moment. It’s the real estate equivalent of one of those “Hurry before the sale ends!” furniture ads on TV—or the weekly grocery store specials insert with an end-of-the-week expiration date. Unlike either of those, buying or selling a home is such a major purchase that the Costa Mesa home loan rate is only one element of what makes a decision that will be seen as a fortuitous one over the years and decades to come. I hope you’ll call us to lay out Costa Mesa’s current offerings as well as the level of activity sellers can expect in the weeks and months to come!
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 companies. From its small beginnings of only two employees, L3 has grown to a full staff of 20 serving over 300 clients a year. L3 is not limited to serving just its clients; it is also committed to serving the community. Not only has L3 donated hundreds of hours to many area charities, they have also received the prestige of being named one of the #toprealestatecompaniesinCostaMesa If you’re interested in #buyingorsellinginOrangeCounty, turn to the experts. Turn to L3 and let them help you make your real estate buying or selling dreams come true. For more information or to get started on finding or selling your home contact L3 today at 714-444-4663 or email us at firstname.lastname@example.org