The real estate market dynamics can seem enigmatic to both beginners and seasoned professionals. One question that often puzzles homebuyers and sellers is: "How do I know if I'm getting a good price?" The L3 Real Estate Team, experienced veteran's in the Costa Mesa property market, shares key insights that'll guide you through this conundrum.
Understanding the Local Market
Costa Mesa, over the last 12 months, has witnessed 599 transactions. With competitive average sales prices around $1,449,603, Costa Mesa's real estate is on fire. Houses spend an average of 36 days on the market, reflecting a more than desirable demand in this vicinity.
However, these numbers might not tell the entire story. It's important to delve deeper and explore
For past generations, the magic summoned up by the phrase “Million-Dollar!” would be hard to exaggerate—so the idea of Costa Mesa million-dollar homes would have represented gawk-worthy artifacts of success. Even though today, “million-dollar” this and that are attached to everyday news items, last week’s announcement from Redfin’s Economic Research unit may have come as something of a surprise. The news was short and sweet:
“Nearly one in 10 U.S. homes are worth $1,000,000 or more.”
The rising proportion of million-dollar properties may be due in part to a weakening U.S. dollar, but by no means is that the whole (or most interesting) story. Some details:
55 of the 99 most populous metros have seen a rise in million-dollar and
Last Thursday, under the headline “The Housing Recession is Over…,” Costa Mesa real estate observers found a MarketWatch report laden with positive indicators. All of them were, however, less than earth-shaking in scale. The optimism-tinged phrases like ‘ticked up,’ ‘inched up,’ and ‘small positive increase’ were balanced by negative results that were equally minuscule—‘falling only slightly,’ was one of those.
Even so, it was hard not to applaud the overall message—a fairly convincing gathering of June month-end numbers that look as if real estate industry momentum is stirring. The springtime doldrums seem to be over—but only ‘just.'
Here are MW’s particulars:
Pending home sales advanced a bit on a month-to-month basis—the first
Costa Mesa homeowners have ample reason to expect to attract bids that reflect the recent run-up in U.S. real estate prices, but that alone shouldn’t lull them into complacency as they prepare their property for entry into the Costa Mesa listings. That’s a real estate truism—even in a well-defined seller’s market. For area homeowners who see tens of thousands (or hundreds of thousands!) of dollars more in market value indicated by recent comparable sales, it’s tempting to then assume that little preparation will be needed to achieve similar results. Not true.
The value of thorough preparation to show off any property continues to make a substantial difference at the signing table. Since the word “thorough” may be too vague to be of much value, here
For Costa Mesa parents who have yet to experience the wonders of Disneyland or Disney World, despite the expense and the line waits, there’s a good chance you will come to agree with the majority takeaway: the memories are worth it. Even so, the corporate powers-that-be at the Walt Disney Co. have never relied on word of mouth to keep the crowds coming—and now they have come up with an amusing promotion that includes a real estate twist.
As World Real Estate News wrote last week, this attention-getting gambit sounds like it came “from the leave-no-stone-unturned school of marketing.” Disney decided the moment had arrived to add their landmark Haunted Mansion to real estate site Zillow’s national listings. For veterans of the eternally popular ride,
If you have ever tuned into “Today’s Homeowner,” you’ll be familiar with Danny Lipford, the friendly, drawling host of one of TV’s longest-running home improvement shows. Lipford is a contractor who demonstrates practical tips on how Costa Mesa do-it-yourselfers might remodel outdated or rundown areas in their homes with little more than ambition, energy, and a few bucks. He makes it look fun and easy, which is undoubtedly why the program has been syndicated for a quarter of a century.
The show has a website, too, which last week published a valuable safety tip: “20 Ways to Reduce the Effects of Indoor Air Pollution in Your Home.” It covered the topic from top to bottom: everything from what it is and what its health effects can be to what to
The text that accompanies your listing as it appears in the Costa Mesa MLS listings is called upon to do more heavy lifting than you might think. If it reads something like: THREE BEDROOM ranch style Costa Mesa charmer with 2 ½ baths, attractive kitchen, and fully landscaped backyard… —then it will only be serving half-duty. A blurb like this does succeed in emphasizing basic nuts-and-bolts details, but every Costa Mesa listing already includes the number of bedrooms, bathrooms and the rest. What’s missing is the story part of the story—the human element that strikes a chord with a reader’s own personal experience. It’s the pathway to emotions that astute marketers strive to reach. Successfully employed, it adds power to any Costa Mesa listing. One
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
