Is it a Good Time to Buy a Costa Mesa Home

Colin Delaney March 20, 2012

Don’t take my word on when to buy Costa Mesa real estate, perhaps you should listen to Warren Buffet, considered to be the one of the world’s saviest investors, as he says is it a good time to buy a Costa Mesa home now. He says he would buy more than one too.

If you play that video, it’s actually pretty interesting. He says, when asked by the interviewer, that if he was a middle aged person, would he invest in stocks or a home to live in. He answers that he would buy the home, and if possible and manageable, he would buy more homes.

Perhaps that’s why I have been inundated with calls from investors recently! This has certainly transferred recently to Costa Mesa – there is little to no inventory now, and what little is out there is selling – quickly. I had this video for a few days, and now I am finally putting two and two together. Duh Colin! I guess when Warren talks, people listen. There has been a tremendous upswing in investor activity, and if you read my last post, you know we have a significant lack of inventory in Costa Mesa, both in regular homes and investment properties.

So What’s Driving This Activity?

1. Low interest rates. As of today, a traditional conforming loan is at 4.25% paying no points and 4.375% for a super conforming loan (up to $729,000).

2. Feel good economy. Everybody feels like we are past of the worst of the recession, so people are realizing it is time to buy again in Costa Mesa real estate. There have been positive feelings about consumer spending as well.

3. Low Paying Investments. Do you know how it feels to get 1% return on an investment? It’s awful – another reason investors and regular joes are buying investment properties and homes to produce a higher return on their money.

How Can Costa Mesa Real Estate work for me?

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With all of this positive sentiment out there, how can I make a Costa Mesa real estate purchase work for me? In my next two posts, I will spotlight how to buy a home as a rental, and how to buy a triplex for investment purposes. Each example are real life purchases that my clients made in the last year, and how they have fared with their returns.