Buying a Home in Costa Mesa: the Question is When?
Buying a home in Costa Mesa is the longstanding goal for a good number of determined future homeowners—but for many who have delayed making a commitment to dive into the homebuying process, the timing just never seems to be right (or anything close to it). Worries intrude from a number of fronts: mortgage rate hikes, asking price creep, a steady stream of free-floating threats to the national economy, and monetary inflation are the leaders—and more seem likely to emerge at any time. It's enough to make anyone want to sit out major long-term commitments like buying a home, at least until the picture gets clearer.
Yet that was just as true last year (and the year before)…
So last Wednesday’s Forbes.com Advisor contribution—“…When Will Home Prices Be Affordable”—looked like a worthwhile read. If Forbes was ready to supply an answer (or at least a direction) for when green-lighting a home purchase in Costa Mesa will make the most sense, it was worth digging into.
Now? Later? Ever?
The timing discussion followed a housing market forecast for May 2023 (“inventories will continue at near historic lows”) and an optimistic view of the likelihood of a housing market crash (“today’s homeowners stand on much more secure footing than those coming out of the 2008 financial crisis…likelihood of a housing market crash is low”). Near the bottom of the article, the heading, “When Should I Buy a Home in 2023?” came close to supplying a firm answer—and did offer some good advice.
The author pointed out that endlessly sitting on the sidelines is a prescription for “ending up disappointed” because “anticipation of lower prices tomorrow” is unlikely to be rewarded. Instead, joining those who are actively making themselves “the best prepared” will put potential buyers into the group most likely to emerge from today’s market having secured a home that’s financially sensible. After first accurately appraising their budget limitations and housing needs, these future homeowners will access research that identifies Costa Mesa properties that fit—after realistically eliminating those that would involve making too many sacrifices “just to get a house.” They will also have contacted lenders who will provide evidence that they already “have their financing lined up”—a preparatory step that is often a saving grace in a competitive seller’s market.
We are here to help with all the steps that lead to success when the time is right for buying or selling Costa Mesa homes. We hope you’ll call!
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
