Costa Mesa's still the place to be, but national trends are throwing a little dance party for our local market. Let's break down what's shaking, without making your head spin.
Interest Rates & Affordability:
- Yep, interest rates are doing their best impression of a rocket ship. This means your monthly mortgage might feel like it's doing the cha-cha with your bank account. Get pre-approved and maybe consider skipping that extra avocado toast...just kidding (mostly).
- Thankfully, we are seeing pricing cool down a bit, and less of those crazy bidding wars that felt like a reality TV show.
Investor Confidence:
- Costa Mesa's still a solid investment, especially with renters lining up like it's a new ride at Disneyland. Long-term outlooks are still strong, so don't panic and sell your beach cruiser just yet.
- And let’s be honest, beaches and easy airport access to John Wayne Airport? That’s always a good investment.
Renovations & Construction:
- Supply chain issues mean renovations and new builds are taking longer than a Netflix binge. Factor in delays and higher material costs. Think of it as 'surprise expenses'—the home improvement version. Also, permit times are longer than trying to get a reservation at that new trendy restaurant.
Remote Work & Lifestyle:
- Costa Mesa's lifestyle is a huge draw for remote workers. Expect demand for homes with workspaces and outdoor areas. Basically, everyone wants a backyard that looks like a Pinterest board. Location, location, location. And good wifi.
Conclusion:
Costa Mesa remains a desirable place to live, even if the market's doing a little jig. We’re here to help you navigate these changes, without making you break a sweat (unless you're running to catch the ice cream truck).
View current Costa Mesa listings (we promise, they're not haunted by rising interest rates).
Posted by Matt Kanoudi on
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