Why Real Estate is Still Happening (Even in New York)
For the next wave of Costa Mesa home buyers—as well as for homeowners who intend to offer their Costa Mesa properties for sale—the past week produced little to clarify what to expect from future Costa Mesa market conditions. Even so, as California’s state and county officials scrambled to offer guidance on public health and safety issues, there was also a growing national awareness of the simultaneous need to preserve a viable economic future.
Throughout the week, New York City dominated much of the nation’s attention. As its heroic health workers braced for a potentially catastrophic viral surge, it was not surprising that almost unnoticed came a ruling affecting its real estate disposition. It illustrated one aspect of the dilemma facing buyers and sellers elsewhere.
ESD (Empire State Development) is New York’s agency charged with overseeing the state’s economic activity. It had been silent about real estate offices’ inclusion in a statewide lockdown which ordered all nonessential private-sector employees to work from home. Needless to say, that created a significant barrier for New York’s real estate industry.
Last Wednesday night, word came that ESD had reversed course, designating residential home and commercial office showings as “essential functions.” Officials explained that the chain effect of hampering real estate transactions—as when the postponement of one home’s sale would trigger the failure of a seller’s subsequent purchase—was so potentially harmful that it warranted the “essential” designation.
But despite the essential designation, the need to retain strict social distancing could not be ignored. According to the Albany Business Review, and EDS spokesman explained, “Brokers can only transact business in their offices or show properties virtually.” The spokesman added, “anything else is off-limits.” As the Wall Street Journal observed, the announcement “generated both relief and anxiety.”
Such mixed reactions are understandable—and realistic. But as the New York example demonstrates, economic reality dictates that some real estate transactions must proceed, even under almost unimaginably difficult circumstances. Here in Costa Mesa, we are meeting today’s extraordinary conditions with strict attention to the urgent safety and health measures—followed by our commitment to bringing all of our energy and experience to bear as we help our clients successfully conclude their Costa Mesa real estate dealings. Call to discuss how we are making that happen today!
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
