How the Pandemic is Affecting Homebuyers in Costa Mesa
In the days before COVID-19, had you asked most people how a pandemic might affect the homebuying public in Costa Mesa, a fair majority would probably have replied something along the lines of “Well—it probably wouldn’t be good.”
We now know that they would have been wrong (at least, initially).
Nationwide, most areas are experiencing an onrush of newly motivated buyers—many of them seeking to adjust to today’s changing needs. In a recent article in Barron’s, the CEO of a leading national homebuilder, Sheryl Palmer, described motivations of many newly energized homebuyers: “What I have to do working from home has just changed, and I can’t retro my house.’”
Simultaneously, at the same time that this increased buyer demand would normally coax homeowners into the market, many would-be sellers are hesitant to list their homes, because—well—pandemic! This in the face of interest rates, which, holding near all-time lows, translate into more affordable monthly mortgage payments and higher asking prices!
With the increase in demand and stubbornly low inventory, it’s hard to argue there could be a better time to sell. So, although much remains to be seen about the course of the virus and the short-term effects of the on-again, off-again economy, residential sales are happening—homebuyers in Costa Mesa are buying.
If you have been considering selling, pandemic or no, there’s little reason to suspect that tomorrow’s market will be more favorable than today’s. Call us—let’s come up with a strategy that works for you!
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. It’s 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 info@thel3.com
