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Home Supply Continues to Improve

 

June 29, 2024

Good morning,

 

Home supply continues to improve as new active listings has increased by double digits for the fifth consecutive month as homeowners begin to list their house on the market.

 

With inflation showing more evidence that it has resumed its declining trend, the Fed is still expected to cut rates later this year, albeit at a more moderate pace. The moderation in rates, coupled with recent improvement in housing supply, should lift the market sentiment up and could create an opportunity for buyers to reenter the market before the homebuying seasons peaks.

 

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

Have a great weekend!

Information + Updates

Did You Know?

Is half of the US in recession already? The two areas that appear in recession are housing and the consumer spending sector amongst lower and middle income sectors that have depleted Covid era savings. The wealthier sector is not in recession as most own their homes, have investments in the soaring equity markets, have cash earning higher interest, and are paying lower tax rates, many even lower in low-tax states. (Rosenberg Research, CNBC)

 

Did You Know?

High interest rates have had an unexpected impact on U.S. housing. Instead of triggering a fall in home prices, as happened with commercial real estate, costlier mortgages have pushed residential values higher. The value of the median existing home rose to a record $419,300 in May: Before the pandemic, it was $270,000, a 55% jump in 5 years.

 

Did You Know?

There is over $6.5 trillion sitting in money market accounts waiting to be deployed.....lower rates could trigger this transition.

 

Did You Know?

"Old Power"? Over 17% of the US population is 65 years old and older. Our presidential candidates are both well over the age of 75. Almost 60% of US senators are 65 or older. The median age of a billionaire is 67 years old (40% above the age of 70!). 2 million Americans 70 years and older still work. As of the fourth quarter of 2023, over 65% of the total wealth in the US was owned by those over the age of 60.... Now THAT's power! 

 

Did You Know?

Waymo - the driverless robotaxi company that operates for all users in Phoenix and is available in limited capacity in Los Angeles and Austin, Texas - has driven about 20 million fully autonomous miles and nearly 2 million paid ride-hail trips. It has already logged 3.8 million rider-only miles in San Francisco as of the end of March. (CNBC)

 

Did You Know?

Private Equity titan KKR paid $2.1 billion for more than 5,200 apartment units across the US....Blackstone paid $10 billion for the landlord Apartment Income REIT, and last month Brookfield bought a portfolio of 7,000 apartments for $1.55 billion.....all are betting rents and home prices will rise as construction starts decline amidst higher financing costs. (WSJ)

 

Did You Know?

30 years ago, the average American consumed 90,832 kwh per capita ....today it's below 79,000, a drop of over 13% and about half of what people use in the UAE (Dubai) per capita ....US energy use per capita is up just 3% since 1965. Other emerging economies have seen energy demand soar 600% and more.....Oman is up 55,000%! (Our World In Data)

 

Did You Know?

What might be the single most appealing attracter of wealthy people? Tax savings! JPMorgan Chase has attracted more than $15 billion in assets from wealthy clients to its tax strategy business, where clients looking to lower tax bills sell stocks at a loss as a write-off against other gains, a tactic common in separately managed accounts (SMAs) known as tax-loss harvesting. (FT). Buying tax credits is also wildly popular.

 

Did You Know?

The number of American homeowners without insurance has more than doubled to 12% from 5% in 2019. The spike in uninsured homes is being driven by a dramatic rise in the cost of coverage. Higher premiums are putting a strain on households already struggling to afford life’s staples. Some bet that something bad won't happen to them. Some bet that government will rescue them. The fewer people paying into the insurance system the higher rates are bound to go for everyone else? (USA TODAY)

 

Did You Know?

Another record-smashing sale in Malibu, California.....$210 million for a waterfront mansion on 9.5 prime acres!

 

The happiest people don’t have the best of everything, they just make the best of everything!

*** BUYER NEED ***

 

Dear neighbors, I have a GREAT all cash buyer looking for home with a view, could be a fixer or could be a finished home up to $20M. Closing time frame is flexible. Please call me at 949-233-7949 if you are interested in selling.

Jobs Training

Five Undeniable Truths From Steve Jobs

Worth Pondering Today

 

  1. Don't educate your children to be rich: educate them to be happy so when they grow up, they will know the value of things and not the price.
  2. Eat your food as your medicine, otherwise, you have to eat medicine as your food.
  3. The 6 best doctors in the world are: Sunlight, rest, exercise, diet, self-confidence and friends. Maintain them in all stages and enjoy a healthy life.
  4. If you just want to walk fast, walk alone, but if you want to walk far, walk together.
  5. The ones who love you will never leave you. Even if there are 100 reasons to give up, they will find one reason to hold on.

Maura Short Real Estate Group 

Open Houses This Weekend

30982 Steeplechase | San Juan Capistrano

Asking $5,499,000

 

Open House Saturday | 12-3:00

1069 Granville Drive | Newport Beach

Asking $2,625,000

 

Open House Saturday and Sunday | 1:00-4:00

New Listing

Details

Make sure you turn the sound up when viewing!

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Featured Listing

Calling all St. Margaret's or J. Serra families, please check out this fabulous new listing. What an amazing home to raise your family in this special community!

Click Here

Make sure you turn the sound up when viewing!

Watch Video

Available August – 12 Month Lease

12 Month Rental

Winter Rental

Flexible Rental (Not 12 Months)

Flexible Rental (Not 12 Months)

Flexible (Summer and Winter) Rental Available Year Round

Summer Rental Available Last Two Weeks in August

Just Leased

Emerald Bay Market Update

When homes are priced right… they Sell!

 

1201 Emerald Bay came on the market 2 weeks ago and went into escrow a day after the home was listed on the MLS. The home was priced right, as I say, “with the bait in the water”. While the home needed work and likely adding some bedrooms, it was livable, street to street with an amazing view….. If you want to sell your home, price it with the bait in the water.

 

1201 Emerald Bay sold for $8,830,000. Asking price was $8.995M

 

There are currently 4 active homes for sale in Emerald Bay ranging from $9,500,000 to $27,500,000.

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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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