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
For those who’d been monitoring Costa Mesa mortgage rates ahead of last week’s Federal Reserve interest rate cut, the news that followed was confusing. The Fed’s decision to lower their overnight lending rate for the first time since the Great Recession commanded first page headlines—but the details that followed provided little clarity.
For homeowners pondering selling or mortgagees thinking of refinancing or applying for a line of credit, the question was whether now was the optimal time to take advantage of the bargain interest rate environment…or…?
First were reports on the fallout from Wednesday’s ¼ point drop in the Fed’s benchmark overnight borrowing rate. Wall Streeters didn’t seem to like it—not because it wasn’t good for borrowers of
It’s summertime and the livin’s easy...or maybe not, if this will be the summer when you’re trying to sell your Costa Mesa home! It’s a fact that summer buyers tend to be well-motivated buyers. Or they may be jamming activity between vacations, backyard BBQ’s and (especially recently) just trying to stay cool. In other words, they also may be distracted buyers. Luckily, there are reliable basics you as a homeowner can help best position your home for a successful summertime sale: 1. Mow the Lawn Twice a Week – everything grows faster in the summer! 2. Create Summer Curb Appeal – colorful flowers in beds and planters. 3. Decorate with Summer Accents – bright accents in tropical colors to evoke coveted vacation days. 4. Bring the Light Inside – It may be bright
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
Long before well-prepared Costa Mesa homeowners arrive at the signing table, they will have been aware of the factors mortgage lenders pay attention to—foremost among which is their bill-paying history. For years, they will have avoided making late payments—or underpayments. They will have corrected erroneous negatives on their credit reports and straightened out any historical inaccuracies.
If they have read up on how home loans are originated, they will know that a second weighty factor is “amounts owed”—but that’s a term that can be easily misunderstood. It turns out to include more than the term implies.
You’d think that “amounts owed” would be a simple dollar amount. If John and Jenny Smith have credit card debt totaling $8,000 and a car
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