Last week will probably stand as one that people in Costa Mesa will look back on as a turning point—the kind of week that marks the end of an era. As ever, the nature of the next will be unknown for a while.

As for Costa Mesa real estate, it’s a sign of the times that last week, despite the Federal Reserve’s surprise slashing of the benchmark interest rate to next to nothing (literally 0%, for some), practically nobody was talking about it. 

In fact, national mortgage interest rates not only didn’t plummet—they actually rose. Freddie Mac reported that 30-year fixed rates averaged 3.65% for the week, up .29% from the previous week. The reason cited by MarketWatch.com was practical: “lenders increased prices to help manage skyrocketing refinance…

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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…

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As you’d expect, the Wall Street Journal had a hard time keeping up with the head-spinning reverses and double-reverses in its namesake roadway’s fortunes. Costa Mesa investors with holdings in the sometimes-plummeting, sometimes-soaring equities weren’t alone in being unsettled by the whip-sawing proceedings. In truth, just about everyone with an IRA or other retirement stake had reason to do some serious brow-furrowing.

Costa Mesa real estate investors would have been somewhat relieved to read WSJ columnist Esther Fung’s mid-week commentary, “Investors Flock to Self-Storage, Rental Housing as Safety Plays”—if only as a counterpoint to Wall Street’s record-shattering volatility. The focus was, naturally, more equities—in this case, the REITs (Real…

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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…

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It seems like forever that TV and radio ads have been boasting about their “near-historical” or “near-record” mortgage interest rates—and they haven’t been exaggerating. Compared with what Costa Mesa home loans have cost in past eras, recent quotes have indeed been exceptionally low. The resulting expansion of “how much house” an individual buyer’s monthly income can prudently support has been a real boon for many local home buyers.

But last week—pretty much out of the blue—came an unexpected blast of terrific news for the Costa Mesa real estate world. Although the source was the usual suspect—the Federal Reserve—it was utterly unanticipated. The already low rates set for the U.S. banking industry’s overnight lending rate wasn’t just going to be…

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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…

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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…

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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…

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