Costa Mesa Real Estate - Timing Is Everything!

In Life, Timing Is Everything... It's The Same In Real Estate.

 Over the last 10 years we've seen the market explode: 2003-2008: Rapid ride in values, high turnover of homes selling2009-2011: Correction of the real estate market. Real estate values declined. We saw an increase in the number of short sales and foreclosures on the market.2012: Dramatic reduction in interest rates. Many homeowners take advantage of loan modifications, refinancing to reduce their payments. What's important to note is that for the first time since the real estate market reached its peak, there is a calm in the market. Home values are settling and many homeowners have been able to take advantage of the extremely low interest rates that are out there. With this calm has come less homes available for sale. The one place where there IS NOT a calm is among buyers. Buyers are eager, anxious and EXCITED to be part of the tradition of home ownership. Interest rates have never been as low as we've seen recently so buyers want to purchase while they can still enjoy the advantage of lower payments. In many cases, owning can be less expensive than renting, especially in today's rental market. We've seen buyers battling it out for the limited number of homes that are available for sale. And when you see a surge in the demand, sellers tend to have the "home court" advantage! Ever so slightly prices are on the rise. However it is very important to note that sellers can't expect to get unrealistic prices because buyers are more cautious and not motivated to own homes that they won't be able to afford. So if you are considering making a move, the time is ripe for getting your house on the market. Sellers right now are enjoying shorter market time, maximum exposure, and deals in their favor. To find out about the value of your home, contact us today: -714-540-7355 -info@torellirealty.com