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For Costa Mesa Home Sellers, this “13” is Lucky!

In any other year, when Costa Mesa homeowners read an opening line like, “For the 13th time this year, the 30-year fixed-rate mortgage set a record low…,” their reaction would most likely be something like, “Wow! They cut rates again! How great!”

Not this year. Most of 2020 has seen gun-shy Costa Mesa residents, having rebounded from one unexpected obstacle after another, take one look at that sentence and be more apt to focus on the unlucky number ‘13’ and think, “Uh-oh! Now what?”

But Costa Mesa homeowners can relax. The news flash is, indeed, good news (unequaled news, actually). As Realtor Magazine noted, when it comes to 30-year fixed mortgages, “home buyers and refinancing homeowners have never before locked in a rate this low.” When the previous all-time record low was set on November 5, rates averaged 2.78%. As Costa Mesa headed into the extended Thanksgiving weekend, the new record beat that one by .06%.

For Costa Mesa homeowners who are thinking of selling, the progression of incremental rate lowerings was largely responsible for what some called “a national home-buying spree.” Realtor credited “ultra-low mortgage rates [that] are boosting home-buying activity to the highest level since 2006.”

The effect was contagious, as well. The chief economist at government-chartered Freddie Mac credited strong housing demand for “a domino effect on many other segments of the economy.” Strong demand plus sub-bargain basement mortgage rates are a potent mix for any Costa Mesa homeowner who has been waiting for the right time to put his or her home on the market. If that describes you, now is the time to 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

 

 

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