Selling Costa Mesa Homes: Is it a Sellers’ Market?
If you’ve been contemplating selling your Costa Mesa home, if you came across last week’s USA Today article that found “home sales are slowing,” it might make you think twice. You couldn’t be faulted for jumping to the conclusion that slowing national sales means tough sledding for selling Costa Mesa homes—but that takeaway is almost certainly wrong. The reasons are tied to the nature of the market—specifically, to this year’s Costa Mesa market. It is true that in some slow markets, sellers find themselves at a disadvantage. That’s the case when a sales slowdown is due to a national economic outlook that makes consumers nervous, or to financial turmoil like runaway inflation, or to other general conditions that drive down the number of eager prospects. Such conditions also increase the length of time it takes to sell a home, which drives up the number of homes being offered. In slowing markets like those, competing with others selling their own Costa Mesa homes can mean lowering your own asking price beneath what seems fair: it’s a buyers’ market. But in other market slowdowns, the opposite conditions prevail. Today’s national residential market looks a lot more like that! Further down in that same USA Today article are details describing a “debate about whether the culprit is rising mortgage rates or low housing supplies.” It points to the fact that “…economists largely blame low housing supplies, not rates.” The Chief Economist for mortgage titan Freddie Mac even observes, “…there’s just no inventory.” Plus, the nation’s economic outlook doesn’t at all jibe with typical buyers’ market conditions. An even more convincing argument for homeowners currently hesitant about selling their Costa Mesa homes is how “skimpy supplies are pushing up prices.” That’s no longer debatable—at least not on the national scene: last month, the median price of an existing house was up 5.3% over last year. In short, it’s pretty clear that this year’s version of a slowing market equals a sellers’ market. We are standing by to help demonstrate all the ways that this can turn out to be a market that’s just about perfect for selling your own Costa Mesa home!
We are built on a philosophy of Heritage & Hustle 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 to provide trusted, convenient, responsive service to ensure clients enjoy their real estate experience. 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, L3 has grown to a full staff of 20 serving over 300 clients a year. L3 is not limited to serving just its clients; it is also committed to serving the community. Not only has 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 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 L3 today at 714-444-4663 or email us at info@thel3.com
