Apr 26

If Costa Mesa High Schools Taught Real Estate, a Friday Quiz

Even though the average adult homeowner spends about a quarter of his/her or their hard-earned income on real estate-related expenses, there’s no Costa Mesa high school course that teaches real estate fundamentals. We may have all grown up accepting that fact, but when you think about it, it really is astonishing. Especially because most of us don’t discuss the very fundamental details of homeownership with our parents, either (at least not until we need a little help coming up with that first down payment).
If there were a high school class on real estate, I think a good first order of business would be establishing how relevant the subject matter is to everyday life in Costa Mesa. Imagining what a snap real estate quiz might look like at the end of the first week, here are some possible questions. They’re multiple choice (to give the kids a chance!)

1. Last year, how many homes were sold?
a) 1 million
b) 3 million
c) 5 million
d) 20 million

2. What fraction of homebuyers were first-time buyers?
a) 1/10
b) 1/4
c) 1/3
d) 1/2

3. Over half of today’s homebuyers first found their new homes via
a) Newspaper and magazine ads
b) Yard or open house sign
c) The internet
d) Real estate agents

4. Typical buyers prefer
a) Neighborhood quality over size of the home
b) Shorter commute time over a larger yard
c) Both of the above
d) None of the above

5. In the U.S., how long does it typically take for a home to sell?
a) 10 days
b) 15 days
c) 3 weeks
d) 2 months

6. Median sale price for a typical “For Sale by Owner” home vs. an agent-assisted sale:
a) $180,000 vs. $120,000
b) $200,000 vs. $250,000
c) $190,00 vs. 249,000
d) They sell for about the same price

ANSWERS: I’ll admit the last question is pro-real estate agent propaganda – but it’s accurate, so why not? As you may have guessed, all the correct answers are c). For the answers to all your other Costa Mesa real estate questions, just give me a call!

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

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