Costa Mesa: Updates in a New Market

What is the market like right now?

I get this question frequently and now more than ever.  With the city of Costa Mesa on a stay at home measure, as it is in most cities, how do we go about doing a real estate transaction?

To answer the first question, sales of Costa Mesa real estate are happening and at a robust pace.  As of this writing, there have been no “slashed” prices, desperate sellers or buyers and there appears to be a normal calm in the transaction itself. Yes, there are different procedures in place, none that are hampering the transaction. There are creative work-a-rounds being implemented, and done in a safe manner.  We have all heard about the virtual tours and  distance ways of marketing.  There is, and always has been much more to a solid sale then the marketing.

Matching a buyer’s needs to those of the sellers and managing the expectations of both parties is still key.  Working within those parameters, nothing has changed.  Real estate is shelter. There will always be a need for shelter. Shelter is one of Maslow’s Hierarchy of Needs.

These times call for decisions made in confidence not in fear.  The calls I am getting now are often filled with some anxiety.  The questions I ask of the client are still much the same.  The reason for selling/buying, the goals, the timing, and of course, what is it you want to accomplish?   Fitting these answers into the “right” property at the “right’ time is what makes for a successful sale. 

The amount of homes for sale in Costa Mesa remains extremely low.  There have been over 30 sales in the last few weeks, there would be even more if there were more homes to choose from.  Yes, many of our citizens  have been affected with job loss, loans are more challenging to obtain and there are more steps to “see” a property, but it is happening and homes are closing.

Sellers, on the whole are pricing their homes to sell, instead of inflating prices and homes are staying on the market for less time.  As of this writing there are little over 70 homes for sale in the entire city.

The timing could be right especially if you are approaching your move from a place of confidence.

Check out our recent Private Listing by CLICKING HERE