First-Time Buyers Eye Local Home Market!

Weichman Realtors knows that many eager first-time homebuyers  were sidelined by the worldwide economic recession. It’s hard to commit to any decision – much less such a major one – when you read almost daily that the market is falling or downward pressure continues. Who needs any kind of  pressure?

So it’s not surprising that, after such an exceptionally lengthy period of down or nearly flat economic expansion, the optimism that drives sales of all kind has been slow to reappear. But for the home buying public, and especially for first-timers, that hesitation could prove costly if, as it now seems likely, the market is entering its recovery phase. So just what does a ‘recovering market’ mean for today’s buyers?

The first sign will be a wakeup call: buyers will no longer find a market filled with purely bargain homes.  Already, foreclosures and short sales are selling above the asking price in some areas, with multiple and all-cash offers beginning to reappear. Veteran observers in a few areas report that it even eerily begins to feel like the old pre-crash days. Published reports remain mixed, but as with the stock market, by the time you are reading headlines confirming a certain trend (i.e. “the bottom”), you’ve already missed it.

This is not to say that home buying is already a missed opportunity in the Costa Mesa, CA market.  ‘Market recovery’ is a phrase that only signifies that movement and prices are on their way up. For today’s potential buyers, it does mean that it is time to get serious about investigating what is being offered — what’s out there.

Financing remains an issue.  Home buying candidates hoping to take advantage of the historically cheap loan programs may still be able to do so, but fees and insurance costs for the smaller down payment packages are on the rise. In any case, first-timers who encounter bank caution due to their inexperience with home buying will do well to seek help from an experienced real estate professional.

Every recovery is different, and the good news now is the presence of both the historically low interest rates and the survival – for the moment – of some bargain listing prices. Together they mean that regardless of any local resident’s buyer status, most can wind up paying less for more.

By seeking expert advice, it’s possible to take advantage of the benefits our changing market has created. With the assistance of a great agent, you can arm yourself with that kind of market knowledge.  Interested in learning what our company  can do for you during the home buying process in our area?  Call us 714-444-HOME!

Weichman Associates Realtors is a full service real estate agency located in the heart of Costa Mesa offering a wide-array of custom services to meet their clients’ needs with roots in the community since 1976. It’s Weichman’s mission to provide trusted, convenient, responsive service to ensure clients enjoy their real estate experience. Weichman Associates Realtors 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, Weichman Realtors has grown to a full staff of 20 serving over 300 clients a year.

Weichman Realtors is not limited to serving just its clients; it is also committed to serving the community. Not only has Weichman donated hundreds of hours to many area charities, they have also received the prestige of being named one of the top real estate companies inCosta   Mesa.

If you’re interested in buying or selling in OrangeCounty, turn to the experts. Turn to Weichman Realtors 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 Weichman Realtors today at 714-444-4663 or email us at info@WeichmanRealtors.com.

Local Residential Real Estate Part of Global Picture!

Weichman Realtors has been noticing that for quite a while, Costa Mesa,CA residential real estate holders – that is, homeowners  – haven’t had to work very hard to come up with a description for the U.S.real estate market. ‘Lousy’ certainly came to mind. ‘Bleak’ was a strong contender. ‘Cautiously optimistic,’ at best a distant third.

So July’s Wall Street Journal report came as a quiet reminder that, for serious-minded investors who view our situation from a less-involved perspective, our residential real estate outlook is neither lousy nor bleak. In fact, the combination of lower residential prices and the international currency environment has created a ‘property-buying binge’ by Asians, Canadians, Europeans and Latin Americans – more than 60% of whom pay in cash.

“There’s this international view thatAmericais on sale,” according to one property manager. He should know; he’s an executive whose Chicago-based company buys foreclosed homes and manages them for investors. A year ago, all of his investors were domestic. Now, one in five is foreign.

Whereas before, most foreign residential real estate investors were interested in ‘trophy’ properties to enhance their personal prestige, the new onslaught is coming from buyers who see that they can earn high returns by buying here, renting, then reselling in the future when the market rebounds. It seems that in many countries, a residential real estate downturn is expected, but has yet to occur. In their estimation, ours is already history.

It looks like “a gift,” according to one developer, who judges that an oceanfront condominium inRio de Janeirosells a level 50% higher than an equivalent property inMiami. International or domestic, investment money is always drawn to bargains — but when bargain basement prices are combined with the perceived safety represented by U.S. residential real estate, the lure is apparently irresistible.

 “FOREIGNERS SNAP UP PROPERTIES IN THE U.S.” was Nick Timiraos’ headline, with a caption that read, “To many Americans, plowing money into real estate has never looked like such a risky venture. But to many foreigners, U.S. housing has never looked like a smarter investment.”

Thanks, Nick, for giving us some outside perspective; I guess we can adopt the ‘cautiously optimistic’ view with a lot more confidence. If you have been waiting on the sidelines to make your own local residential real estate investment, I hope you will give Weichman Realtors a call when you decide that now is the time. We’re standing by to help you find the property you’re looking for!

Weichman Associates Realtors is a full service real estate agency located in the heart of Costa Mesa offering a wide-array of custom services to meet their clients’ needs with roots in the community since 1976. It’s Weichman’s mission to provide trusted, convenient, responsive service to ensure clients enjoy their real estate experience. Weichman Associates Realtors 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, Weichman Realtors has grown to a full staff of 20 serving over 300 clients a year.

Weichman Realtors is not limited to serving just its clients; it is also committed to serving the community. Not only has Weichman donated hundreds of hours to many area charities, they have also received the prestige of being named one of the top real estate companies inCosta   Mesa.

If you’re interested in buying or selling in OrangeCounty, turn to the experts. Turn to Weichman Realtors 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 Weichman Realtors today at 714-444-4663 or email us at info@WeichmanRealtors.com.

Weichman Realtors Open House List for 6/30 and 7/1

Weichman Realtors Open House List for 6/30 and 7/1

Saturday- June 30th

311 Santo Tomas, Costa Mesa

2pm-5pm

3114 Coolidge, Costa Mesa

1pm-4pm

Sunday- July 1st

311 Santo Tomas, Costa Mesa

2pm-4pm

  Weichman Associates Realtors is a full service real estate agency located in the heart of Costa Mesa offering a wide-array of custom services to meet their clients’ needs with roots in the community since 1976. It’s Weichman’s mission to provide trusted, convenient, responsive service to ensure clients enjoy their real estate experience. Weichman Associates Realtors 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, Weichman Realtors has grown to a full staff of 20 serving over 300 clients a year.

Weichman Realtors is not limited to serving just its clients; it is also committed to serving the community. Not only has Weichman donated hundreds of hours to many area charities, they have also received the prestige of being named one of the top real estate companies inCosta   Mesa.

If you’re interested in buying or selling in OrangeCounty, turn to the experts. Turn to Weichman Realtors 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 Weichman Realtors today at 714-444-4663 or email us at info@WeichmanRealtors.com.

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