Which Costa Mesa Listing Detail Can Be a Little Squishy?
Today's house hunters have at their command a wealth of information by which to compare the homes currently available on the Costa Mesa listings—numbers that enable the kind of apple-to-apple comparisons that bring a smile to the faces of hard-headed realists who value hard data. Right?
Sort of.
If you're one of those realist types who value the precision of hard numbers, last Thursday's Realtor® Magazine provided an article bound to provoke a spate of teeth-grinding. In fact, why don't you just skip reading any further—you'll probably be happier reading the morning's stock market quotes or last night's baseball statistics.
The article in question, "Handle Square Footage Issues," was actually aimed at us real estate professionals. It dealt with imprecision in what people might assume is one Costa Mesa listing entry not subject to opinion: the home's square footage. It turns out that it depends on what's being measured. It can be what is defined as "official living space," or it could be "the total space" of the house. As a result, it can happen that a property's listed square footage can lead to questions and possible re-negotiations. Since the listed square footage number doesn't always match up to the appraisal's, it prompts RM's speculation, "what happens then?"
The answer to that varies, but the reasons why otherwise-diligently calculated figures can differ are many, resulting in a number you might call a bit 'squishy.' If, for instance, a previous owner has enclosed a patio or finished a garage without obtaining a proper permit, disparities can result. Too, anyone who has ever measured the square footage of an irregularly shaped area knows how challenging the calculation can be. Additionally, many lenders ask to see only "gross living area" used in the calculation they go with—that usually includes only areas that are heated or cooled, which may not have been the basis used elsewhere.
Since appraisers take their own measurements, discrepancies can crop up. Then, if the square footage number is lower than the one shown on the Costa Mesa listing, "sellers could even find themselves back at the negotiating table with buyers."
It's an important part of my service to ensure that my clients, be they buyers or sellers, are properly represented throughout the process—and that occasional hiccups don't unnecessarily derail a transaction that's clearly in the interest of both parties.
Call us anytime!
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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