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Market Conditions in Costa Mesa : Real Estate Advice

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  • Local Info7
  • Home Buying54
  • Home Selling3
  • Market Conditions9

Activity 8
Wed Dec 19, 2012
Drew Hartanov answered:
Per CRMLS - CARETS

Last 90 -days, 46 properties sold both condos and single family homes

Average sold price $581,813
SP/SqFt $386.99
Median sold price $560,000
0 votes 3 answers Share Flag
Tue Apr 9, 2013
Sally Picciuto answered:
Yes, you are right. Prices are down from two years ago. From the high end to the entry level condo, buyers expect a deal and can usually get it. Banks are only going to loan on the latest comparable, so if short sales and reo's drive the market down, that is where the prices are going. Right now, with the interest rates as low as they are, it is a great time to buy. It is cheaper than renting! Buy now! ... more
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Mon Feb 28, 2011
Oc Buyer answered:
Have you looked on Craig's list or the OC register's site? The latter has MLS rentals as well as classifieds. I had been trying to gauge rental values on the house we are buying and saw tons of fully remodeled townhomes and condos that were renting for less than the apartments. They sound like distressed owners. My only concern renting from a potentially distressed owner is that it may foreclose anyway. The owner has your deposit, the bank doesn't give it back and you have to suddenly move. Some of the banks give people a few bucks to move, but not all of them. ... more
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Mon Aug 4, 2014
Dave Osborne answered:
I have an easy to read report that details the specific information you are looking for as well as a plethora of other pertinent info on Costa Mesa. It is in PDF form and can be emailed you with no obligation or follow-up. Let me know if you would like it.

Thanks
... more
0 votes 5 answers Share Flag
Mon May 5, 2008
Oc Buyer answered:
I was trying to gauge rental values for homes in Costa Mesa and looking on Craig's list I saw a number of rentals that appeared to be distressed owners. I assumed this because they are the homes that say all newly remodeled and the rents are below the average and the ads make them sound like they want someone in yesterday... offering things like 1/2 off the first month. Landlords don't typically completely renovate a rental with cherry and granite and the like.... speculators did that to flip. It's got to be tough to be a traditional landlord and having to compete with these. The only thing you want to make sure of is that you don't move in and the owner defaults and loses the house to foreclosure. If that happens you lose your deposit and have to move suddenly. ... more
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Tue Oct 12, 2010
Vicki Lloyd answered:
I don't think they will decrease as much % as the Inland Empire, but they will probably drift lower over the next few years. There are still a lot of "liar loans" that will be adjusting over the next 2 years, and it is unlikely that those owners will be able to refi or afford the new payments. The bank owned homes often need a substantial amount of work and money to make them nice, so they will be pulling the average values down for a while.

If you find a house that you love, and can afford, and plan to stay in for 6 - 10 years, it won't matter if "averages" dip down some more. They will come back up eventually, and you will have enjoyed living in your own home during that time.
... more
0 votes 54 answers Share Flag
Mon Dec 3, 2007
Michael Roberts answered:
Hi Caleb, Are you asking about subordination? If so, There are lots of those seminars around...my opinion is that the new Real Estate market will not support the strategy. Too many people have exposure to the available homes and there will always be a buyer for every home without having to to a paper shuffle deal. For now!

Michael
http://www.MichaelRobertsHomes.com
... more
0 votes 2 answers Share Flag
Sat Nov 15, 2008
Rita Bradley answered:
Good question. Are you curious or are you thinking of listing your home? If you are curious, one of the online services such as Trulia or www.zillow.com might be able to give you a ballpark figure on what your home is worth. If you want to list your home, I would recommend finding an agent you would like to work with and he or she will work with you to price your home correctly so it will sell in a reasonable amount of time.

If you want a second opinion, getting an appraisal might be a good idea. This type of appraisal is generally shorter and less costly than the type of appraisal used for purchases and re-financing.
... more
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