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Why Costa Mesa Neighborhoods Welcome Some ‘Disasters’

Around this time every year, crazy weather conditions wreak havoc on various parts of the North American continent. Costa Mesa neighborhoods don’t have to be threatened directly to have local homeowner nerves on edge, either. Many of us can’t help but be affected by all the shaky iPhone videos of coastal destruction and the mayhem wrought by twisters that suddenly come roaring through communities, no matter how far distant.

So last Thursday, it was a nice change when housingwire.com’s cataclysmic headline brought news of a different kind of disaster. Even though the language shouted, “collapse!”—the effect was comforting. It was a welcome kind of fiasco. More directly, it looked as if Costa Mesa neighborhoods were going to feel the aftereffects of the debacle that had taken place, yet this time the results promised to be more agreeable than not, especially for homebuyers—but also for local sellers who had been watching mortgage interest rates on the rise.

Housingwire’s disaster was one certain to be felt in housing markets all across the nation—but was a ‘collapse’ to be savored. The headline put it succinctly:

Mortgage rates collapse on softer inflation data.

Truly, this was a “disaster” local buyers and sellers would wish to see repeated. The Consumer Price inflation data had come in lower than the most optimistic forecasts. The effect had been immediate, striking. “As a result,” the release said, “mortgage rates went from 7.37% yesterday to 6.67% as of this writing…and mortgage rates will be below 7% today.” And sure enough, by Friday, Fox Business’s “disaster” coverage included how the ‘collapse’ had triggered a ‘plummet.’ But the illustration wasn’t of splintered beams or caved-in foundations: it was a graph of the mortgage interest rate nosedive: “30-year fixed-rate refinance: 6.25%, down from 6.75%.”

There was even more heartening speculation, ending with housing potentially becoming “a positive story in 2023.” It is time to start planning for next year, too—and not too soon 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 info@thel3.com

  

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