The passage of the massive American Rescue Plan Act last week gave those who plot the ebb and flow of Costa Mesa housing activity much to ponder. Even without the Act, most observers already expected that by the end of spring, the majority of the U.S. economy would be undergoing a healthy recovery due to the escalating rollout of the COVID-19 vaccines. It was predictable that the Act's injection of trillions of dollars (including $20 billion for increased vaccine production) would add strength to the rebound.

But what would be the impact on real estate in general—and Costa Mesa housing in particular? For Costa Mesa sellers, the outlook couldn't help but be positive. According to website, in February, U.S. sellers had been chalking up close to 100% of their asking prices (99.6%, to be precise). The pace of sales looked to be heating up as well if the Mortgage Bankers Association report of a 7% increase in weekly home loan applications was a fair indication. The MBA concluded that despite rising rates, homebuyers appeared "ready to 'spring' into action."

At least for the short run, real estate investors also seemed likely to benefit. The direct stimulus checks to individuals were sure to boost retail spending—ultimately flowing to the retailers' landlords. Additionally, consultants at Novogradac identified an Emergency Rental Assistance portion of the Act—a 21,550,000,000-dollar (those are billions!) monetary injection that will come to the aid of renters. Their landlords may be unnamed, but they are definitely part of that picture.

By the week's end, it was the size of the package that continued to draw both praise and criticism—most audibly from those worried that the downstream cost would greatly outweigh the immediate benefit. The focus was also shifting to a discussion of how rapidly the cash could realistically be injected into the economy—and whether it might overheat an already recovering economy.

Here in Costa Mesa, for the moment at least, it seems evident that the immediate result will be to assist the dawning spring-summer busy season. If you are planning to be part of it, we are standing by to help ensure success!

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





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