Second only to Forbes.com, MarketWatch is the most often-visited financial and business news site—pulling in more than 38 million unique readers a year. That beats out more prominent names like the Wall Street Journal, Bloomberg, and Reuters. Such popularity can be interpreted as “highly trusted”—but given today’s heightened level of free-floating skepticism, that remains to be seen.
Last week MarketWatch’s “Picks” page presented four predictions for the housing market that might interest Costa Mesa readers—including owners of Costa Mesa luxury homes and those interested in acquiring Costa Mesa high-end properties. It dealt with residential real estate as a whole, but the writers—economists and real estate pros—placed a luxury market prediction first:
- Less competition for higher-priced homes. With mortgage rates hitting 5%, homebuyers will have to adjust what they can afford. That means more competition for lower-priced homes.
That’s possible, certainly—but over at the Journal’s ‘Mansion’ page, researcher Liam Baily was not so certain. Although “the luxury market is not immune from changes in the cost of debt or cost of living,” luxury buyers often do not need financing. That leaves them much less affected by interest rate fluctuations, “transitory” or not.
The MarketWatch predictions drew a flood of reader reactions, particularly regarding the likelihood of prices continuing to rise despite climbing mortgage rates. One comment saw this as evidence of “irrationality” in the housing market—which drew strong rejection from others who simply saw buyer demand reacting to limited supply (and today’s market certainly has that). In the wider market for mid-priced homes, tight inventories could continue for years to come since owners will be reluctant to sell when it means giving up sub-4% mortgage payments.
Predictions from any source may prove out or not—but as this spring’s Costa Mesa market activity demonstrates, opportunities can still be found for alert, motivated buyers. 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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