Feb 23

The L3 Open Houses on February 24th & 25th!


L3 Real Estate Orange County, CA Featured Open House for:

Saturday and Sunday – February 24th and 25th 1-4PM

9952 Effingham Drive, Huntington Beach

We are built on a philosophy of Heritage & Hustle 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 to provide trusted, convenient, responsive service to ensure clients enjoy their real estate experience. 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, L3 has grown to a full staff of 20 serving over 300 clients a year. L3 is not limited to serving just its clients; it is also committed to serving the community. Not only has 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 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 L3 today at 714-444-4663 or email us at info@thel3.com

Feb 22

Future Costa Mesa Home Sales May Defy Assumptions

Many Costa Mesa homeowners will be planning to list their properties this spring because it’s when future home sales would be expected to peak. Historically, at least, spring is when a sudden crush of prospects usually arrive on the scene. But this year, the upward drift in mortgage interest rates might have would-be sellers worried. After all, it’s common sense that any rise in home loan rates would put a damper on buyers’ enthusiasm.

Sometimes common sense and reality don’t go hand in hand. When we try to estimate the strength of Costa Mesa’s future home sales, it could be a case in point. That’s one way to look at the conclusions drawn by a pair of studies released last week. Both were focused on examining how rising interest rates are likely to affect future home sales. If you assume that higher mortgage rates automatically dampen home buying activity, that in itself could become a self- fulfilling prophecy. For Costa Mesa homeowners currently deciding whether the prospects for future home sales are on the decline, that could be a factor in their decision about whether to list their own properties.

John Burns Real Estate Consulting examined the “common sense” idea about the dampening effect of rising mortgage interest rates—and found historical evidence that put the kibosh on it. They looked at ten separate periods since 1975 during which rates rose by 1% or more, and found little or no impact on sales if the underlying economy was strong. Apparently, the public optimism that accompanies a roaring economy offsets the effect of higher monthly mortgage payments. Another study by market research journalist Greg McCarriston summarized a late-2017 Redfin-commissioned survey. More than 4,000 people were polled in late 2017 about their own homebuying plans. Surprisingly, only 6% of those quizzed said they would cancel their own homebuying plans if mortgage rates passed 5%. A surprising 46% said that would either have no effect on their plans—or that it would actually increase their urgency to buy since rates might rise further.

Common sense or not, if both studies prove out, the strength of recent economic news could energize this spring’s Costa Mesa future home sales activity—despite a creeping rise in interest rates. That will be good news for homeowners who decide to sell, and for buyers who are planning on the traditional spring flood of new properties entering the market. If you are thinking about joining either group, I hope you’ll give me a call!

Feb 21

Becoming a Landlord in Huntington Beach: 3 Tips for Profitability

Anyone who has ever thought about becoming a landlord in Huntington Beach has probably been attracted by its distinct advantages as an investment. Owning a property that appreciates in value at the same time it generates cash flow is a hands-on investment with obvious appeal. Yet that same “hands-on” factor can cause second thoughts: the very phrase “becoming a landlord” can inhibit busy would-be Huntington Beach investors who aren’t eager to enroll in a second or third career. In reality, becoming one of Huntington Beach’s next landlords is considerably less daunting than it might appear. The “Forbes Real Estate Council” recently offered some choice observations on that score. The Council is an assembly of seasoned high-end professionals whose commentaries appear on the heavily trafficked Forbes site. Their ideas frequently make good reading—especially when they manage to distill million-dollar wisdom down into a few major guiding principles. For Huntington Beach investors grappling with the idea of becoming a landlord, real estate management software CEO Nathan Miller recently offered his distillation of the top ways to maximize real estate investment profits. There were three:

1. Tenant screening is the Number One priority. Quality tenant background and credit
screening services cost as little as $15.
2. Have your tenants pay rent online.
3. Require standard routine maintenance be performed by a licensed professional (or DIY if
you are qualified)—don’t delegate to tenants.

For Huntington Beach landlords, following these simple practices are actually methods for avoiding the most common cash flow siphons. The first rule tends to minimize vacancies and deadbeat tenants. The second guideline is derived from proven statistics that show online payers are more punctual with their payments—and less likely to resent the emotional toll extracted by writing out those big checks by hand. The third capitalizes on basic human nature. Even the best tenants can “forget to change the air filters or clean out the dryer trap”—or any number of other routine tasks that homeowners know will prevent expensive breakdowns.

Becoming a successful Huntington Beach landlord may not be quite as simple as just following Miller’s rules—but the three do embody the kind of cut-to-the-chase mindset that seems to go with profitability in any business endeavor. And right now, Huntington Beach’s opportunities are here and waiting—call me for a look!

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