Emerald Bay Demand Very Strong

February 27, 2021

Good morning,

As we come to the end of February, the demand for Emerald Bay houses remains very strong. There are currently 11 active listings in Emerald Bay, AND 5 of these listings are under contract! Note that the average number of active home listings is typically 12 to 15.

Needless to say, the demand for homes in Emerald Bay remains high. Projections from several economists suggest the real estate market will continue to be strong through 2021. Consistent with the increase in home values in Emerald Bay over the last year, we have seen healthy increases in home values across Coastal Orange County since the pandemic started. For those who think Emerald Bay home values have gotten a bit frothy, one only needs to look at current home prices in other nearby coastal communities to understand the current home values we are seeing in our community.

Have a great weekend!

Information + Updates

Did You Know? Tesla's financial health has long depended on its ability to sell hundreds of millions of dollars in regulatory credits each quarter. In the first half of 2020, credit sales actually accounted for all of Tesla's positive reported earnings. In Q3, Tesla sold $397 million credits in order to post a positive net income of $333 million. In other words, credit sales exceeded net income by $66 million in Q3. (Seeking Alpha)

Did You Know? Effective 2021 there were 125 Rule changes to the official Pickleball Rulebook (USAPickleball.org)

Pickleball Anyone:

Of the 3.3 million players, 2.0 million were “Casual” participants who play 1-7 times a year
1.3 million were “Core” participants who play 8 or more times a year
The Average Annual Growth Rate (AAGR) for all players from 2015 to 2018 was 9.7%, for a total growth rate of 29.1% over three years
62% of participants are men; the percentage of participants who are women grew from 33% to 38% over three years
The average age for all players is 41 years old
The average age for Core players is 54 and Casual players 33 years old
64% of Core players are 55 or older
84% of Casual players are 54 or younger

Did You Know? Why are timber prices so extremely high right now? Blame Canada! The US actually has a rather significant OVER-supply of lumber.....but most of the mills are owned by Canadian corporations which now can control the prices paid to tree-growers......and mills were virtually shut down for many weeks in 2020 adding to the backlog.....pun intended! (WSJ)

Did You Know? Architects across the USA have noticed older clients are increasingly taking on new construction and major renovation projects. It is partly because there are more households led by people 65 or older, with a million added nationwide every year between 2014 to 2019. It also reflects a preference for aging at home. A 2018 AARP survey found that 86% of 65+ and older really would like to do is stay in their current residence for as long as possible. A big share of those intending to age in place wants it to be in a different place from their current residence. (WSJ)

Did You Know? Bitcoin's value plummeted 17% in one day earlier this week....imagine if the DOLLAR plummeted 17% in one day.....? (Markets insider)

Did You Know? 65% of the members of TIGER 21, an elite multimillionaires club with an average of $100 million in assets, expect the stock market to end 2021 even higher. Real estate remains the largest chunk of portfolios, at 27%. Industrial real estate “is on fire,” particularly distribution centers that form the backbone of the internet delivery chain. Investing in workforce housing is also popular, including converting limited-service hotels. Those units could be garden apartments around cities aimed at tenants making about $50,000 a year in stable jobs. What members do not feel is hot is hedge funds, which have steadily shrunk from being 7% to 9% of portfolios a decade ago to 3%, the lowest percentage ever. Why? High ANNUAL fees.(Yahoo)