June 3, 2023

Good morning,

While home sales continue to improve as tight supply remains an issue in the existing housing market, demand could dip in the short term as rates remain elevated. With consumer spending staying solid and inflation not easing in the latest reading, the housing market could face additional headwinds as the Fed contemplate on having another rate hike in their June meeting.    

If you have any questions regarding our local housing market, please reach out. Have a terrific weekend!

Information + Updates

DID YOU KNOW? 

And yes - shockingly - the House passed a debt ceiling deal thankfully. PS: The interest payment on our federal debt is about $600 billion per year…..Yowza

DID YOU KNOW?

Credit card delinquencies peaked around 13.8% in 2009. By the end of 2015 they were down to about 3.85%. By the end of 2019 just before COVID hit they had almost doubled to 6.91% and now they are back up to 6.51%. Mortgage delinquencies are around 1.94% They were 3.5% just before COVID hit at the end of 2019. (WSJ)

DID YOU KNOW? 

JPMorgan Chase & Co. has quietly built a global unit - 23 WALL - focused on catering to about 700 ultra-wealthy families and their investment firms with a combined worth of around $4.5 trillion as it looks to expand services to the world’s super-rich with offices in Europe, the US and Asia. (Bloomberg)

DID YOU KNOW? 

There are now 7 US companies worth $1 TRILLION or more…..

DID YOU KNOW? 

HVAC manufacturer Carrier may be poised for growth after its recent acquisition of Viessmann Climate Solutions, a leading German maker of heat pumps and other climate-control products, as many more homeowners convert to much more energy efficient systems. Heat pumps are notably cheaper - almost 50% - than regular electric heating.

Technology

Juice Jacking

Our cell phones have become gateways to all of our information more and more over the years. Now we can carry our passport info and in some states even our drivers licenses along with Netflix passwords right in our phones. It’s very convenient but it’s also very dangerous to have all that sensitive information in one place.

The FBI has recently issued a warning against plugging our phones into public charging stations. You’ve seen those kiosks/desks in the airports where you pay a couple bucks to charge your phone along with 8 other suckers, I mean, travelers. Don’t do it. Apparently this is a way for hackers to load malware into your device which could end up stealing your data. They call this “Juice Jacking”…I know, it’s a funny phrase but I also know you won’t soon forget it lol.

So as you travel this summer, do yourself a favor, bring along your own charging supplies. That’s the safest way to stay juiced up. Your own wall plug or your own power brick. Click pic to see options on Amazon. Stay safe out there!

Arts + Entertainment

Joseph Kleitsch

The Old Post Office

Oil on canvas, 1922-23

40 x 34 inches

Gift of the Estate of Joseph Kleitsch in memory of his wife Edna

1950.013

A new exhibition will debut at the Laguna Art Museum this June, museum organizers announced Tuesday.

The upcoming exhibition, Joseph Kleitsch: Abroad and At Home in Old Laguna, will showcase the work of impressionist painter Joseph Kleitsch, whose pieces "vividly capture the energy and beauty of Southern California" when it debuts on June 24.

Just for Fun

Why Black Truffles Are So Expensive

Some friends recently shared with me their experience in France with truffle hunting. I asked,"Well aren’t their farms?" Well there are but the best truffles come organically, usually under Oak trees and identified by trained dogs…. How cool is that?

Congrats to the Class of 23!

Congratulations to all the graduates this year. My daughter Lauren is graduating from LBHS and headed to play D1 waterpolo at Villanova University in Philadelphia. I am beyond proud of her grit, fortitude, discipline and most importantly her kindness and character. Your world is your oyster baby!

Emerald Bay Market

New Listing

Please Visit Me Tomorrow

Open House

This Sunday 2:00-4:00pm

Call for gate access

322 Emerald Bay

$14,900,000

6 Bedrooms | 7 Bathrooms | 5,493 Sq.Ft.

A highly desirable and rare luxury 6 bedroom Emerald Bay residence has come to market. Flawless custom construction seamlessly incorporates a clean contemporary style with affluent coastal living.

This home was designed with ultimate privacy in mind and to enjoy the ocean and Catalina views. Nearly 5500 square feet of spacious living surround an exquisite outdoor courtyard complete with a spa, covered dining loggia, outdoor fireplace, grilling station and lush landscaping. Nearly every room welcomes ocean breezes and ample natural sunlight through over-scaled windows and doors. Several balconies wrap the front exterior of the home extending the living area.

The chef's kitchen boasts high-end appliances, a large island and a dumb waiter to transport food items from the garage level. The three-car garage includes a space for a golf cart that will easily whisk you down to Emerald Bay’s pristine white sand beach. 

For Lease

For Lease

For Lease

For Lease

For Lease

Just Leased

Just Leased

There are currently 5 active homes for sale in Emerald Bay

ranging in price from $7,149,000 to $14,900,000.