This Spring Will Favor Prepared Costa Mesa Homebuyers
If last week’s Realtor® Magazine commentary is accurate, the timing for Costa Mesa’s peak homebuying season looks as if it is apt to return to traditional seasonal patterns—unlike what happened in 2020. If the economists at the National Association of Realtors are reading the tea leaves correctly, last year’s scrambled real estate sales activity should give way to something more closely resembling the regular pattern. That would reflect the current rise in optimism that recovery from the pandemic is on the way—reversing the disruptions that first crippled spring sales, then brought unusually brisk activity in the summer and fall.
If Costa Mesa’s traditional peak homebuying activity does follow the spring-to-summer pattern, Realtor’s advice to real estate professionals would be timely: they “should prepare their house hunters” for shallow inventories and rapidly rising home prices.
It’s a warning that contrasts with consumer expectations reported by the National Association of Home Builders. In their own commentary released at the same time last week, the NAHB reported that future buyers “perceive” that they are now able to afford half or more of the homes available in their areas— a significant rise in optimism. The report found that buyer perceptions about the availability of homes are also on the rise, with 37% now expecting that their search for a home will “get easier” in the months ahead. A year earlier, far fewer held that view.
Costa Mesa readers might well wonder, which is it? Will house-hunters in Costa Mesa’s dawning spring homebuying season have an easier time finding the home they want at an affordable price? Or is Realtor Magazine’s headline—“Spring Buyers Must Be Ready to Act Quickly”—a more accurate read on what they should expect to find?
It’s true that Realtor’s assessment of listing price increases (in January, “up 15.4% over a year earlier”) and hefty inventory drops (in the 50 largest metro areas) are national rather than local statistics. Still, this season’s prospective Costa Mesa buyers can’t go wrong if they expect and prepare for a competitive market rather than one that’s “easier” than before.
Being ready to act quickly is easy enough—it can be as simple as organizing personal financial records and applying for a mortgage lender’s pre-approval letter. Another key preparatory move: have an experienced Costa Mesa Realtor on your team from the get-go. In other words, 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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