It is a Good Time To Buy

I’ve been telling you all for some time that it is a good time to buy Costa Mesa. I found this great graphic that illustrates it differently, between the beginning of 2010 and today. I am here to GUARANTEE that prices will be going up up up!

It’s a good comparison that shows where California median prices are versus the going interest rate that you can buy a home with at that time. As you can see, we have hit a pretty remarkable place - a steady market and low interest rates. And it is no different when you consider Costa Mesa median prices and Costa Mesa real estate interest rates.

Inventory levels are low, and many people have already been slowly looking for a home over the last 6 months. It does seem that those who have been looking are pulling the trigger very quickly once they see the home they want. With inventory low, and prices and mortgage rates at low/reasonable levels, it is a good time to buy.

 

I’ve talked to many of my agents recently, and some of my clients have experienced the difficulties of the present market. Not enough homes, and multiple offers for the very best properties. What I can tell you is that there are a couple of good periods coming up when it is a good time to pounce on a deal. August has always been a quiet month for Costa Mesa. You would think at the end of the summer, everyone is looking to make a quick deal, but it seems most people are away on vacation and preparing for back to school. The other good time to find a deal is in the late Fall, sometime between October and December. Most of the properties that have been on the market will have sold, so the time would be right to find a deal on a property that has lingered on the market past the summer.

 

Unsure of what to buy? I gave a few pointers recently on how/what to buy, especially if you don’t want to spend top dollar.

 

Need help in Costa Mesa? I’d love to help!

 

Call Colin at (714) 743-9882 or E-mail me.