Costa Mesa Resale Values: Location, Location, Location Variations
As it relates to Costa Mesa residential properties, the “location, location, location” homily is usually thought of as referring to neighborhoods. Homes in superior Costa Mesa neighborhoods are visibly well cared for, usually have larger footprints, appealing architecture, etc. Their higher resale values are self-sustaining because their buyers can afford attentive maintenance.
But the locationX3 adage can also be valid for how a property is sited. Costa Mesa listings that read like absolute steals online can sometimes prove the point (one that remote buyers without local representation can learn to regret).
A fabulous home situated in the wrong place can be a mistake waiting to happen.
Examples:
- An otherwise exceptional Costa Mesa home sited on a busy thoroughfare (AKA, a “double yellow line value killer”) doesn’t lose appeal simply because of road noise or the hassle of getting in and out of the driveway—there is also prospective buyers’ apprehension about what will happen when it’s time to resell. The same home on a cul-de-sac automatically commands a higher price and swifter resale.
- The value impact of a major road within sight is a matter of degree. A faraway freeway can be value-neutral, especially if the nighttime view of streams of head- and taillights can be viewed as sparkling, jewel-like ribbons of color. But too close by—especially within earshot—buyers are more likely to find it off-putting.
- Longtime Costa Mesa residents may remember when a corner lot was the preferred neighborhood configuration, but that assessment has been declining for years—partially because corner lots create greater side yards and smaller backyards, and partially because they create twice as much street exposure.
- A nearby airport can be promoted as a major convenience for frequent travelers—but one that’s close enough to constitute ear pollution can have the exact opposite impact.
Almost without exception, situations like these will be glaringly obvious upon a prospective buyer’s first visit. Exceptions do happen, though—especially when prospective buyers fall in love with something about a property. In that case, it’s only important that the buyer be fully apprised about what to realistically expect from the market if and when it’s time to resell. When you are a client of ours, that is absolutely certain to be the case!
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
