Homeowners who plan to put their properties up for sale this year are discounting much of the pessimism that has percolated through the nation’s press in past months—possibly because they are staying well-informed about real estate in Costa Mesa. The sellers should be greatly encouraged by the report that headed The Hill’s ‘Finance’ section on Tuesday: “Survey finds Americans wildly misinformed on housing market.

The facts it presents go to reinforce the prospects for this season’s Costa Mesa real estate market. It makes the case that fears that U.S. homebuyers are stampeding for the hills are “woefully” misplaced—on a variety of counts. Examples were cited from surveys by NerdWallet, the NAR®, and Redfin:

  • Twenty-eight million Americans “plan to purchase a home” this year. Since fewer than six million homes were sold last year, that would constitute more than a fourfold increase. Of course, “planning” and “doing” always differ—but the notion that a steep drop in sales is inevitable doesn’t match personal itineraries.
  • Those 28,000,000 potential prospects are determined to house-hunt despite the widespread belief that current mortgage rates are unusually disadvantageous. More than 60% of those sampled believe today’s rates “are unprecedented.” If the majority of those contemplate a purchase despite that misinformation, they should be further encouraged if they learn that at 6.15%, current rates are significantly lower than the 30-year average of 7.75%.
  • Pessimism about the state of the housing market abounds, with two-thirds of Americans saying they expect “a crash.” That extreme differs from most well-informed opinion makers. As NerdWallet’s Holden Lewis points out, “a drop in home prices isn’t necessarily a crash,” while market experts at Redfin predict a U.S. drop of “no more than 4%.”

While a freefall in this spring’s Costa Mesa real estate picture may seem highly unlikely, the persistence of widespread misinformation is noteworthy. One factor could be material: many potential house hunters start out with 2013 prices in mind, even though today’s median listings are significantly higher. Serious prospects will be better informed, of course. Call us for the latest verified Costa Mesa results—the key data that inform successful buyers and sellers.

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



Posted by Matt Kanoudi on
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