My New Blog

December is notoriously slow for the real estate market most years, and for good reason- holidays, shopping, and a time for family get togethers.

It gives me time for pause, a time to work on preparing for next year, and to review the market in general. Do you know what the one thing I just can't wrap my arms around?  I see deals- great deals like have not existed in more than three years. And what about those deals? They are just sitting there, with little to no interest.

It's surprising, but I think people have forgotten about the fundamentals...low interest rates (6% and less), good employment, a stable local economy, and a chance to build equity in the best tax break money can buy.

I think a lot of what's happened is people have turned into value thinkers- but unfortunately are reacting to the news and not paying attention to the real market.  The value thinkers have certainly overreacted to news, both good and bad. They are not taking a long-term view of an investment (or simply a place to live), and dig into price disparities as we scan for foreclosures and bank-owned homes thinking the prices will come falling by a hundred thousand dollars overnight. If you could think of the Costa Mesa real estate market like a stock trader looks at a value stock, a good working definition of a value stock is one that can be bought for a price that offers a big enough margin of safety that if you are wrong in your analysis or if there are fundamental shifts in a company's strategy, you are protected from losing much money.

Well, from that approach there are a ton of million dollar homes for half price currently on the market today.

Look past the news- there are some super deals out there!!

One of the greatest benefits of living in Costa Mesa is the close access to great thaeater and arts and the Performing Arts Center.  Right now you can see Jersey Boys which is absolutely, without a doubt one of the most entertaining Broadway shows currently touring the country!! I wondered what all the hype was about when one of my friends had gone 3 times, so I had to induldge!!

There's just something about that era, the music, and an amazing story about Frankie Valli and the Four Seasons.

It was fantastic- don't miss it - definitely worth the price of admission!!