For the local homeowners with Costa Mesa homes for sale, last week’s real estate news was filled with encouraging details. Headlines like “Home-Price Growth Accelerated in January” (the Wall Street Journal), “Home prices skyrocket 19.2% in January” (CNBC), and “Condo prices hit all-time high: Redfin” (TheRealDeal.com) were prominent across the media, with reportage emphasizing signs that for most of the country, this year’s busy season was already in full swing.
Even the most worrisome development—a stronger-than-expected uptick in mortgage interest rates—could be viewed as a plus for homeowners with Costa Mesa homes for sale. Although the week’s average home loan rates climbed to their highest level in more than three years, most outlets included the caveat that they remained at close-to-historic levels.
Furthermore, the Federal Reserve’s indication of more to come could well spur sales. Although prospective buyers might be disappointed at having missed out on the best mortgage bargains, the future seemed all but certain to hold higher (possibly, much higher) rates. Per Bloomberg, already a half-point hike “was on the table in May, and more to come.” For buyers whose monthly housing budgets might already be challenged, that outlook would be hard to ignore—adding pressure to catch the affordability train before it left the station entirely.
Readers of last Thursday’s Marketwatch found confirmation in reports that “…homebuyers rushed to lock in deals.” Even the Federal Housing Finance Agency’s Supervisory Economist Will Doerner confirmed that “intense borrower demand” was not yet dampened because of the week’s home loan pricing levels, while The Wall Street Journal headlined, “…costlier home loans have yet to dent demand in a big way.”
All in all, last week provided ample encouragement for area homeowners contemplating adding their own property to the current crop of Costa Mesa homes for sale. If that’s your own agenda—or if you plan your own house-hunting expedition—now is a good time to give us a 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 email@example.com
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