Groundhog Day in Costa Mesa

Please? I’m grasping at straws here, obviously. If I am looking for Groundhog’s Day to help predict this coming spring for Costa Mesa real estate. Or perhaps I’m just whining. But really, our inventory is super, super low. As of this writing, there are ONLY 54 homes and condos in Costa Mesa real estate that are Active according to our MLS. And that’s not good for Costa Mesa real estate.

 

So what’s Punxsutawney Phil got in store for us? He didn’t see his shadow, so that means we will have an early spring. We need it! That’s the time when lots of Costa Mesa real estate homeowners typically put their homes on the market ahead of the summer selling season.

 

It’s difficult- I’m working with a handful of buyers looking for great Costa Mesa homes, anywhere between $400,000 up to about $1,000,000 and there just aren’t enough choices for sale. I’ve written about it recently, in my end-of-January report for Costa Mesa real estate, but the trend stubbornly continues.

 

I had a new client come to me last week, very excited to start looking for a home in Costa Mesa real estate. They have been renting here for some time, and simply love how wonderful our great city is to live in. They’ve done all the right things- managed their credit, carefully saved enough money for a down payment, and talked to a mortgage professional about getting pre-approved for a loan. They were so excited to start looking. Here’s how our conversation went at first:

 

 

 

“Anything up to $650,000, and we would love to live in Mesa Verde.” My first thought- that’s awesome, that is a great price range and they should be able to find lots of homes within their budget and ones that are in good condition.

 

“Here, let’s see what’s for sale in Mesa Verde”, I say. “Uh, do you want to live on Colorado Lane or Peppertree Lane?” It must be Groundhog Day in Costa Mesa.

 

(3260 Colorado Lane has 3 offers currently, expecting more, and 2955 Peppertree Lane is directly across from a bunch of apartments)

 

Heck of a lot of choice, huh? It’s bad…it’s really become a waiting game for a home to go on the market, then it becomes a feeding frenzy for those homes near the $650k mark…

 

Hopefully, we can reach out and rub Punxsutawney Phil’s neck, and pat his head, wish for good luck and a lot more inventory, all the way out here in Costa Mesa!

 

Please call local expert/Broker Colin Delaney at (714) 743-9882 or E-mail me.