Last week there came this snippet from a radio commentary: “No matter how business is doing, the landlord business is doing just fine.”
Especially in the context of last week’s nerve-rattling tumult on Wall Street, that remark seemed particularly relevant—especially for investors newly motivated to investigate the upside of Costa Mesa residential investments.
There is one national statistic that unambiguously points in a positive direction—one that current landlords from coast to coast should find comforting. The indicator in question is the Moving Rate—and it’s signaling stability.
In the common vocabulary of commercial business, the Moving Rate describes the “customer base” for the “product” that residential investors produce. It is the
The importance of “curb appeal” as a factor for selling Costa Mesa homes has never been questioned. It’s as important as packaging is to breakfast cereal makers—or to any manufacturer whose products compete for shelf space in a supermarket. “Curb appeal” produces a potential homebuyer’s first impression—and that has a way of influencing a lot of what follows.
Yet just exactly the degree to which curb appeal determines any Costa Mesa home’s sales success is—like most of the other factors that go into the art of selling—not something that you’d think would lend itself to scientific study.
Not so, as the slogan on the masthead of the Journal of Real Estate Finance and Economics proclaims. The editors of that periodical take an opposing view:
According to Alina Dizik, one of the leading Wall Street Journal’s real estate commentators, a growing number of luxury homeowners are finding new appreciation for an old idea. In fact, the older, the better.
Pursuing a way to enhance the feel of modern homes, more and more homeowners are “getting into the groove” of reclaiming ancient materials—especially old wood. Antique timbers from old New England barn sidings have long been recycled, but usually only for walls. Now other uses are being found to add character to otherwise unexceptional rooms.
For Costa Mesa homeowners looking to update their own homes, looking to the past might be an idea worth thinking about.
The Journal highlights a successful example in a Minnesota couple who
Every serious house hunter is aware that the Costa Mesa neighborhood surrounding any house has a significant effect on its ultimate value. It follows that the future of a neighborhood will have a measurable impact the future value of the properties in it.
Part of the reason not much emphasis is given to this factor is the difficulty of gauging a neighborhood’s future prospects. That’s especially true for homebuyers who are new to the area. Yet there are ways to scrutinize neighborhood characteristics for indications that augur well…or which point to a future which might not be headed in the right direction.
Here are four such factors:
Incomes. Strong average household incomes are indicative of more than just the current
As soon as you begin to plan to sell your Costa Mesa home, you’ll soon find one thing everyone agrees upon: the need to de-clutter. But where to start? For any home that’s been lived in for years, it’s easier said than done. Most of us shrink from even thinking about what goes and what stays. But one way to wade into the project is to force the issue by picking a date and (now that you’re committed)—holding a garage (AKA ‘yard’) sale!
For garage sale neophytes, there are a number of tips that veterans agree upon.
Here are six that top most lists:
Inventory as if you are serious. That means making a list of each of the major items you will be offering, then placing a price tag on each. A very general rule of thumb is to
If you are among the local homeowners counting the days until Costa Mesa’s hot selling season begins, unless your house is already in perfect showing shape, you might be pondering which—if any—possible remodeling projects would be wise to take on before you list.
The answers aren’t simple. The first consideration is the calculation for whether your property is likely to attract top dollar in its as-is condition. If not, you need a prospect’s-eye take on which areas are most likely to detract from the apparent overall value of the property. Then comes another factor: identifying which of those projects will go furthest in recapturing their cost.
Even if leaving everything as-is doesn’t inspire much confidence, it might
Last Friday was the final day for the Las Vegas mega-trade exposition: the annual Consumer Electronics Show. Forward-thinking Costa Mesa homeowners have learned to keep an eye on the CES because the public debuts of new appliances, gadgets, apps, and devices that take place there often wind up influencing Costa Mesa real estate. Sometimes, in major ways.
Past examples are numerous. Not too long ago, giant screen TVs were oddities—but today it’s unusual to find a single Costa Mesa house for sale that doesn’t have at least one room configured to suggest an inviting big screen entertainment area. CES is where the latest television advances showed up first—and America bought into big screen in a big way.
As Thanksgiving rolls around again and our Costa Mesa houses fill with visiting relatives and friends, it’s hard to repress an occasional thought like, “Gee, I hope the water heater holds up” or “Boy, this would NOT be the time for the range to give out!” But it’s true that if there’s one thing first time homeowners can learn from their more experienced Costa Mesa neighbors, it’s to expect the unexpected—at least when it comes to home repairs. That isn’t to say that some wallet-draining breakdown is certain to happen a month or two after moving in—but the odds are close to 50-50 that something could need attention within the first year or so.
That was just one of the major takeaways for Costa Mesa readers of last week’s NerdWallet 2018 Home
When it comes to selling your Costa Mesa home, kitchens get the Grand Prize for being the room that gets the most attention. But it’s increasingly possible for bathrooms to give them a run for the money.
Kitchens take first place because so much of a typical Costa Mesa family’s “together” time is spent there. Preparing and serving meals is, for most of us, a positive part of the day we look forward to. As a result, the quality and practical layout of a kitchen get a lot thorough going-over during showings and open houses. It’s amazing how frequently prospective buyers stop to chat with the showing agent right there in the kitchen. People just like kitchens—so having one that’s especially appealing is an indisputable plus for selling any Costa Mesa
Most Costa Mesa real estate turnaround practitioners follow what might be called “The House Flippers’ Creed”: buy, fix, sell—as quickly as possible! The speed factor isn’t just because, as in most businesses, volume dictates profitability. It’s also due to the investment’s interest expense—the value of money over time. You don’t need an economics class to see how it can gnaw away at a bottom line. Now it seems that The Creed’s fundamental hypothesis is being challenged in many parts of the nation—at least by buyers targeting dated homes for their own use. According to last week’s Wall Street Journal essay about the rising tide of “Extreme Makeovers” which focused on residences that have had a single owner for decades. Many are in need of “new interior