Does a Baby Boomer Wave Create Costa Mesa Real Estate Opportunities?

From midway across the Pacific came an interesting commentary last week—one that sparked an idea Costa Mesa investors should look at, especially with the recent news. The article appeared in the HawaiiHomes section of Oahu’s Star-Advertiser where an investor couple decided to make a change in their real estate portfolio.
The investors “Joyce” and “Reid” are seniors and have “been reading about the demand for senior-friendly housing”. Over 10,000 people turn 65 every day in the U.S., this AARP statistic is a little startling until you realize that there are 77 million American Boomers who were born between 1946 and 1964.
To Joyce and Reid, that fact—plus local senior-friendly housing prices were on the rise—convinced them that a portfolio change might be needed. They ultimately decided to swap their current investment property—a two-story townhome—for a more centrally-located property. It’s walking-distance location, in addition to a single-story floor plan, makes it senior-friendly. Keep these tips in mind if you plan on doing something similar.
The decision was fortified by other observations. In their area, some senior living communities were already experiencing waitlists. They reasoned that the senior-friendly rents would increase. And if in future years they found themselves unable to obtain suitable housing, they may decide to move into their investment property themselves. This could be an option if you are looking at purchasing a second property.
The demographic repercussions the Hawaiian landlords observed is one that Costa Mesa residents have probably been reading about, too. Costa Mesa real estate investors might want to keep senior living in mind when they’re weighing alternative real estate investments. TheL3 is here to assist with all Costa Mesa’s real estate investment alternatives!

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

When is “Boring” Good News for Costa Mesa Home Loans?

The Mortgage News Daily gives the home loan industry’s workaday professionals something to read with their first cup of coffee. It catches them up on the latest numbers from the previous day’s activity and provides a running commentary on the why’s and what next?’s for mortgage issuers.
Friday’s edition gave Costa Mesa homeowners, soon-to-be homeowners, and those soon to be home sellers ample reason to head into the Labor Day weekend with renewed confidence in the current state of affairs. Friday’s lead headline in the MND provided the reason: “Mortgage Rates End Week Near Best Levels.”
The opening sentence began, “Mortgage rates caught a break…” and went on to explain that an array of underlying reasons continues to prevent home loan rates from rising. That extends a near-freeze in the low rates that has recently prevailed. Despite widespread expectations that home loan payments would rise throughout this year, rates have actually moved downward since April.
And lately?
Yawn.
Commentator Matthew Graham summarized the plight of journalists who cover the loan industry: “If You Like Boring,” his headline read, “You’re in Luck!” “Mortgage rates didn’t move at all again today,” he groused. “If we broaden our definition of ‘sideways’ just a bit, we can legitimately fit most of 2018 into the same conversation.”
Costa Mesa home buyers and sellers might commiserate with the writer’s creative distress—but not so heartily that they would wish it otherwise. As long as the current Costa Mesa mortgage rates stay mired in the lower half of the historical range, they result in the kind of more affordable monthly payment quotes that widen the ranks of eligible buyers. It means nothing but good news, too, for Costa Mesa home sellers—and another sound reason to give us 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

Before Your Costa Mesa Listing Appears, Take 2 Financial Steps


In a fast-moving market, sellers can be caught off-guard when their Costa Mesa listing turns into an unexpectedly quick sale. That might sound overly optimistic, but most people who are preparing to list their homes are so focused on preparing the property that they put off worrying about what happens once Job One is accomplished. Yet the downside to being caught unprepared can lead to awkward (and expensive) consequences.
Getting the place ready for the listing photos—and after that, preparing for the first showing or open house—tends to command a lot of attention. It’s no surprise that many an average Costa Mesa home seller doesn’t see the need to focus on what will happen after the sale. But a “that’s the kind of problem I hope to have!” attitude is a misstep—particularly when it comes to the financial details.
This is particularly true for sellers who plan on an immediate move to their next house—either one you already have your eye on, or one you plan to seek out once you find a buyer for your current Costa Mesa home. It’s easy to be lulled into complacency since common sense would seem to indicate that financing your future residence will be a snap. After all, any existing loans will be paid off at closing, a substantial amount of extra cash will become available at the same time, and your credit score should reflect those admirable financial accomplishments including a happy ending for the last home loan lender. How could there possibly be a hitch when it comes to financing a new place?
Well, there shouldn’t be (but those can become some of those ‘famous last words’). Fortunately, to prevent any irritating unexpected (and undeserved) financial SNAFUs, it’s only necessary to take a couple of preventive moves:
• First, check on your current credit score. As you know, all three of the credit reporting agencies are legally obligated to let you see your report details as they currently stand. Don’t assume no misreporting has crept into your score—they can appear at any time. And since it can take at least weeks (and often months) to correct, the right time to check is before your Costa Mesa listing hits the market.
• Second is something that can prove to be a godsend if your Costa Mesa home sells immediately to buyers who need to move in quickly. Simply do the same thing your buyers may already have benefitted from—secure a lender’s pre-approval. Although it will be contingent upon the sale of your Costa Mesa property, it will still signal to the next home’s seller that you are a VERY serious and prepared buyer. If you find yourself vying with others to land that next home, that can make all the difference. If, on the other hand, you find yourself scrambling to get the paperwork in order at the same time you are closing on the first property, unnecessary tangles could develop. Part of our service includes helping our clients foresee upcoming events. Whether buying or selling (or both), I hope you’ll give us 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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