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More Listings Have Been Coming Onto the Market in the Past Few Months

 

June 14, 2024

Good morning,

 

10-year Treasury rates have surged in the wake of last week’s jobs report, which showed more than 270,000 net job gains and daily mortgage rates have jumped back near 7.2%.

 

More listings have been coming onto the market in the past few months despite many homeowners facing rate-lock after buying/refinancing when rates were below 3%. This has already helped home sales rebound from 2008 financial-crisis levels through April. Sales are expected to continue to rise through the end of the year.

 

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

Have a great weekend! Happy Father's Day to all the dads!

Information + Updates

Did You Know?

The Oklahoma City Council (my stomping grounds) on Tuesday gave the green light to plans for a tower that will rise nearly 2,000 feet in Oklahoma’s capital city, dethroning One World Trade Center in Lower Manhattan as the nation’s highest. (NY TIMES)

 

Did You Know?

These are the five most heard words from a recent book about what people say just before they die:

  1. I wish I’d had the courage to live a life true to myself, not the life others expected of me.
  2. I wish I hadn’t worked so hard.
  3. I wish I’d had the courage to express my feelings.
  4. I wish I had stayed in touch with my friends.
  5. I wish that I had let myself be happier.

 

Did You Know?

US Household net worth climbed $5.1 trillion, or 3.3%, in the first quarter of 2024 to $160.8 trillion, a Federal Reserve report showed yesterday. The value of equity holdings increased about $3.8 trillion, while the value of real estate held by households rose about $900 billion to a record high. Mortgage debt rose 2.1% as consumers and businesses borrowed more, even at higher rates. (Bloomberg)

 

Did You Know?

Contrary to some 'opinions' out there, a recent Gallup poll showed people in the US still think real estate is the best longterm investment: 36%! That's over 50% more than the 22% who favor stocks and 18% who favor gold. 13% favor a savings account and 4% like bonds.....just 3% like crypto. 

 

Did You Know?

In 2019 less than 10 million U.S. families had more than $1 million in wealth. In 2022 it was 16 million. We increased the number of millionaire households by 60% in just 3 years, mainly self-made wealth. Only 21% of US millionaires have received any inheritance. There are 600,000 millennial millionaire households, and while the average millennial has 30% less wealth at the age of 35 than baby boomers did at the same age … the top 10% of millennials have 20% more wealth than the top baby boomers at the same age.

 

Did You Know?

164,000 people fall off a ladder every year, 300 of these people die. Over half of these are men over 55…. Note to self, stay off ladders.

 

Did You Know?

Will A.I. resolve one of the most critical cost issues around construction: speed? Homeowners are experimenting with an explosion of new artificial intelligence applications to quickly visualize an array of layout and style ideas, coordinate with builders and designers and estimate costs. These new tools say they can help save time and money in the building and renovation process, which has traditionally been filled with seemingly endless decisions and an avalanche of paperwork that often result in longer projects and ballooning costs. (WSJ)

 

Did You Know?

The U.S. has more liquid investable wealth than any other country, with $67 trillion dollars available. Liquid wealth includes listed company holdings, cash holdings, and debt-free residential property holdings. (Henley)

 

Did You Know?

Property owners have long seen restaurants as risky tenants with a high rate of failure. Now, with Americans dining out more than ever, the restaurant business is emerging as the hottest corner of retail real estate. Food services accounted for more than 19% of all retail leases in 2023. The average household spent nearly 53% of its food budget on food away from home last year, a record-high proportion and up 10 percentage points from 2003, according to the U.S. Agriculture Department’s Economic Research Service. Total restaurant sales are on track to top $1.1 trillion this year, a 5.4% increase from 2023’s record-high level. (This statistic is nationally and not withstanding California restaurants where a McDonald Quarter Pounder meal is $15😳…. Not that I have been to McDonalds in the recent future) (WSJ)

*** 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.

Class of 2024

Congratulations to all the graduates, you are our future.

 

And this is happening this weekend.

Megan is graduating from Santa Clara University

Outrageous Goal

A young Zlatan shows just how good he is while at Ajax in 2004.

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In Escrow

(On Market 2 Days)

Details

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
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For Lease

 

Available August – 12 Month Lease

Flexible (Summer and Winter) Rental Available Year Round

Flexible (Summer and Winter) Rental Available Year Round

Summer Rental Available Last Two Weeks in August

Just Leased

Emerald Bay Market Update

There is definitely movement and activity in the Emerald Bay market…. Whoop whoop for the first time in 3 years we have more than 3 homes on the market!!!!!! Just this week, we have 2 new listing hit the market, with 1 of them going into escrow…. We now have 4 active homes on the market and 1 under contract, with quite a few off market opportunities…..

Emerald Bay Homes

Currently on the Market

Click Here to View all Listings

We have a few more vacation rentals and

12 month rentals coming on the market.

 

There are currently 4 active homes for sale in

Emerald Bay ranging in price from $8,995,000 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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