Hard-to-Follow Advice for Costa Mesa House-Hunters
"Budget better, shop smarter!" might be unassailable advice for shoppers of all stripes, but at the outset of 2022, Costa Mesa house-hunting readers of USA Today's Real Estate pages could have used a few more precise tips on how to follow the exhortation. "After a year of bidding wars and record-high prices, here's what's changing for homebuyers…" was a promising headline—but what followed consisted mainly of reasons why intelligent shopping is a good idea.
The reasons included cautions about rising home loan interest rates, which would make better budgeting important, and the continuing national "supply-demand imbalance," which would make more nimble (if not specifically "smarter") shopping advisable.
Experts added reasons why this year's Costa Mesa house-hunters may well find themselves facing increasing levels of competition. Since millennials, "the largest generational group in history," continue to age into their prime homebuying years, that demographic reality explains why last year saw an increase in bidding wars—and this year's Costa Mesa house-hunters are unlikely to see a change.
As for what to expect when it comes to affordability, readers had to settle for a glass-half-full/glass-half-empty prediction. Although some experts speculate that price growth may persist at double-digit levels, they are countered by the likelihood that an affordability crunch could force "moderation in house prices." Nonetheless, the overall projection is for "a competitive seller's market for some time."
The "… here's what's changing" article may have been short on useful house-hunting tips, but last week's revelation of 7.5% consumer price inflation—the highest level since February 1982—definitely validated the wisdom of its call for better budgeting. Although the author failed to supply specific recommendations for how readers could answer the "shop smarter" advice, Costa Mesa house-hunters already have a simple, proven, and cost-free way to get that done: call us!
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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