Last week will probably stand as one that people in Costa Mesa will look back on as a turning point—the kind of week that marks the end of an era. As ever, the nature of the next will be unknown for a while.
As for Costa Mesa real estate, it’s a sign of the times that last week, despite the Federal Reserve’s surprise slashing of the benchmark interest rate to next to nothing (literally 0%, for some), practically nobody was talking about it.
In fact, national mortgage interest rates not only didn’t plummet—they actually rose. Freddie Mac reported that 30-year fixed rates averaged 3.65% for the week, up .29% from the previous week. The reason cited by MarketWatch.com was practical: “lenders increased prices to help manage skyrocketing refinance demand.” MarketWatch observed that borrowers shouldn’t “worry too much about interest rates staying this elevated.” They predicted another drop in rates as soon as the refi backlog works its way through the system.
That was bound to take longer than normal. As unprecedented health measures began to take hold, daily office routines began to unravel—with the amount of work accomplished expected to suffer.
Anyone seeking parallels in history might have unearthed a pair of quotes from the 20th century. One was from the Communist revolutionary, Lenin:
There are decades where nothing happens;
and there are weeks where decades happen
That seemed to describe the week pretty well. For just about everyone in Costa Mesa, it’s a safe bet that the eventual return to simple ho-hum normalcy will be newly appreciated—captured in the second quote from Joni Mitchell:
Don’t it always seem to go
That you don’t know what you’ve got till it’s gone
For Costa Mesa’s families, patience has become a useful virtue as we endeavor to slow down and stamp out the health menace. In the meantime, we’ll be standing by to answer your concerns about how Costa Mesa’s real estate is being affected—don’t hesitate to call.
We are built on a philosophy of Heritage & Hustle. The 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. Its L3 mission is to provide trusted, convenient, responsive service to ensure clients enjoy their real estate experience. The 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, The L3 has grown to a full staff of 25 serving over 300 clients a year. The L3 is not limited to serving just its clients; it is also committed to serving the community. Not only has The 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 The 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 The L3 today at 714-444-4663 or email us at firstname.lastname@example.org