Blog

A Look into the Current Emerald Bay Real Estate Market

 

giphy image

April 8, 2023

Happy Easter!

The economy is still exhibiting resilience despite slower growth in recent weeks. The strong labor market continues to push real wages higher and keep the economy from falling behind. As mortgage rates dip, applications to purchase or refinance continue to increase.

 

If you have any questions regarding our local housing market, please reach out.

Information + Updates

DID YOU KNOW? The average for a 30-year, fixed mortgage is 6.28%, down from 6.32% last week and the lowest in almost two months. (BLOOMBERG)

 

DID YOU KNOW? Hedge funds made more than $7 BILLION in profits by betting against bank shares during the recent crisis that rocked the sector, their biggest such haul since the 2008 financial crisis. (FT)

 

DID YOU KNOW? And then after the floods and storms came the .....SUPERBLOOM! Yes, California is about to experience an explosion of wildflowers after the heavy rains not seen since 2019! (WSJ)

 

DID YOU KNOW? The dollar has weakened by over 10% in the past few months after soaring to highs in October, 2022. Attention foreign buyers!

 

DID YOU KNOW? The inefficiencies of certain laws is astounding: Goods shipped from the far east to Hawaii have to go to Los Angeles first and then back to Hawaii - that's about 5,000 extra miles of transportation - due to archaic laws from decades ago that add costs/inflation.

 

DID YOU KNOW? Lake Mead is a huge body of water.....about 30 million acre feet of water.....and that is about the amount of the snowpack that exists in California's mountains right now. Hopefully temperatures increase slowly so that this melts slowly too. (LA TIMES)

 

DID YOU KNOW? The Longevity industry will be a $44 billion per year business by 2030 according to some estimates....so how does this impact real estate?

 

  1. The wealthy who have the money for this may live lots longer and stay in their homes longer, and require homes that cater to the elderly.
  2. Just look at the Flatiron District in Manhattan (just 10 blocks): for a long time many of the retail spaces stood empty: dozens are now filled with health-related businesses including several longevity spas....

 

DID YOU KNOW? There is $220 billion of cash in private equity funds on standby looking to buy 'bargains'.....

 

DID YOU KNOW? While oil prices spiked as OPEC+ cut production to keep prices up - regardless of a war raging in Ukraine - natural gas prices dropped notably, now less than half the price of where it was at the start of 2023.....down to about $2.11 compared to $9.68 in August 2022. Natural gas is most important to electricity generation and heating costs which could offset some pain at the pumps....and keep rising inflation at bay The US produces the most natural gas in the world.... 934 billion cubic meters, 33% more than Russia (701.7 billion cubic meters) or Iran (256.7 billion cubic meters).

Easter in Emerald Bay

giphy image

Easter in Emerald Bay is magical!

These pictures are 2008 through 2017.

Emerald Bay Market

In Escrow + Off Market

Representing Both Buyer + Seller

North Laguna

 

I love creating a Win/Win Scenario for both buyer and seller…. especially when I represent both…. Deals like these are why I love what I do!

New Lease

For Lease

12 Month Lease

For Lease

For Lease

Just Leased

There are currently 5 active homes for sale in Emerald Bay

ranging in price from $6,495,000 to $11,000,000. 4 homes have transacted this year. 2 of these homes were pockets which both received multiple offer. The homes listed sold significantly less than what they were listed for and were on the market on average for over 5 months…..

 

4 Emerald Bay Homes

Have Closed This Year

 

1016 Emerald Bay

Off Market

Close Price - $9M

Close Date - 1/18/23

Days on Market - 0

Received Multiple Offers

 

517 Emerald Bay

Off Market

Close Price - $9.9M

Close Date - 2/6/23

Days on Market - 0

Received Multiple Offers

 

133 Emerald Bay

Asking Price - $7M

Close Price - $6.2M

Close Date - 3/23/23

Days on Market - 114

 

819 Emerald Bay

Asking Price - $7.5M

Close Price - $6.5M

Close Date - 3/28/23

Days on Market - 200

giphy image
Facebook  Instagram  Youtube  

Work With Maura

Maura Short is known for her strong work ethic, broad industry know-how, and passion for architecture, in addition to her extensive network, confidentiality, and moral code. Combined with her wide-ranging local expertise, all of these assets result in favorable outcomes for both buyers and sellers under her care.
Contact
Connect With Me