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The Market is Expected to Normalize


July 10, 2022
Good morning,
Whoop whoop! We now have 5 homes on the market in Emerald Bay ranging from 4.9M - $49M, with 2 more properties coming on the market this week. There is also 1 property (pocket) under contract which will be the highest sale on the non oceanside.
Mortgage rates fell for the second week in a row. With mortgage rates steadily coming down after reaching a recent peak in mid-June, the market has begun to show some signs of stability.
The market is expected to normalize further in the second half of 2022 with softer sales and more moderate price growth.  
I hope you enjoy my newsletter. Please always consider me as your real estate resource.
Information + Updates
Did you know? From the start of the pandemic to the end of 2021, U.S. households built up $2.7 trillion in extra savings, according to Moody’s Analytics. Covid-19 lockdowns kept people at home with nowhere to spend money, and three rounds of stimulus payments boosted their incomes. Now, with inflation at its highest point in decades and wage gains trailing behind, Americans are turning to that stash to cover costs. (WSJ)
Did you know? Inflation is high almost everywhere around the globe.....here is a snapshot:
US 8.6%, Canada and Mexico 7.7%, UK 9.1%, Spain 10.2%, France 5.2%, Italy 6.8%, India 7%, Turkey 73.5%, Egypt 13.5%. Shockingly some oil-rich countries have crazy high inflation too: Nigeria 17.7%, Sudan 263%, Russia 17.7% and Venezuela 167.2%....Saudi Arabia (2.2%), Kuwait (4.7%) Iraq (5.2%), and Jordan (4.4%) are much lower.
Did you know? According to the National Hole-In-One Registry, the odds of making a hole in one are 12,500 to 1. Sounds pretty good considering the odds of winning the California Super Lotto Jackpot are 1 in 18 million. 
The odds of winning the Lotto Jackpot are about 1 in 14 million. (3)
If one person purchases 50 Lotto tickets each week, they will win the jackpot about once every 5,000 years. 
If a car gets 25 miles per gallon, and a gallon of gas is bought for every Lotto ticket bought, there will be enough gas for about 750 round trips to the moon before the jackpot is won. (I am sure these stats are before the gas prices jumped up.)
It is three times more likely for a person driving ten miles to buy a Lotto ticket to be killed in a car accident than to win the jackpot. 
Did you know? The National Association of Realtors’ housing-affordability index fell to 102.5 in May, the lowest level since the index fell to 100.5 in July 2006. It was close to the lowest level since July 1990, when the index stood at 100.2. The affordability index incorporates median existing-home prices, median family incomes and average mortgage rates. (WSJ)
Did you know? After 3 years as the world’s most popular maker of battery-powered cars, Tesla was dethroned by China’s BYD. Half-year sales figures showed that BYD — short for “build your dreams” — delivered 641,000 cars in 6 months, 300% higher than the year before and ahead of Tesla’s 564,000, overtaking Tesla before Volkswagen, Ford or GM, each of which had made this a public goal.
Did you know? 46 million people moved to a different ZIP Code in the year through February 2022, the most in any 12-month period in records going back to 2010, mostly seeking cheaper housing, better weather, less traffic and lower taxes. (WSJ)
If that makes you stand apart from the crowd. It’s a wise warning:
Don’t stunt your own growth by toning down your natural talents and
skills. Instead, like Queen Bey, show others what’s possible, and the world may just follow where you lead. ––Beyonce
Real Estate News
What’s up with the Crazy Housing Market?
After a two-year boom, the housing market finds itself
at a pivotal moment — but pivoting to what, exactly?
For Lease
For Lease
In Escrow
I have pocket listings available. Contact me for details!
The Emerald Bay Market
There are currently 5 active homes for sale in Emerald Bay
ranging in price from $4,900,000 to $48,995,000.

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.
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