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The summer remains hot and the Olympics have taken over!

 

 
 

August 11, 2024

Good morning,

 

The summer remains hot, and the Olympics have taken over! The Federal Reserve, meanwhile, is ready to cut rates for the first time in more than four years in the upcoming September FOMC meeting (or sooner), especially since the last jobs report suggested that the labor market is cooling faster than expected, and the stock market has been reacting negatively to the news. Should the downward momentum in rates continue, lower costs of borrowing could help push home sales back up in the third and the fourth quarters.

 

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

Have a great weekend!

 

Information + Updates

“I was with Warren Buffett yesterday and we always talk about the resiliency of America. It is extraordinary.”

- Jamie Dimon, JP MORGAN CHASE

 

 

Did You Know?

The BATTERY skyscraper? Skidmore Owings and Merril have designed a skyscraper that would use a motor powered by electricity from the grid to elevate giant blocks when energy demand is low. These blocks would store the electricity as “potential” energy. When there is demand, the blocks would be lowered, releasing the energy, which would be converted into electricity. (CNN)

 

“The Fed needs to drop rates.

They have been foolish not to have done so already.” 

- Elon Musk

 

Did You Know?

Nationwide, the costs of utility companies’ capital investments are being passed on to customers. Those added fees, combined with higher inflation and a series of heat waves, mean painful bills for many this summer. California now has so much electricity during the day in some months because of its growing portfolio of solar power that the grid operator is turning increasing amounts away—roughly 840,000 megawatt-hours in April alone, enough to power more than 930,000 homes. There aren’t enough batteries to store the excess. (WSJ)

 

Did You Know?

What would you do if you had $277 billion in cash? Berkshire Hathaway is armed with that much and awaits buying opportunities....which may imply that any bargains may not be as cheap as some would hope for? PS: They are not alone....its estimated over $6 TRILLION is sitting waiting in the sidelines of non-banking US corporations..... yes, the Covid savings of the mass consumer have been mostly depleted, but the Covid GAINS - mostly fueled by consumer spending where under the ruse of inflation you could charge a bit extra - may have only just begun their adventures! (WSJ)

 

“I’m not pushing the panic button at this point, but it

is a cause for concern, and it certainly indicates the Fed

is behind the curve in cutting rates.”

- Robert Frick, corporate economist, Navy Federal Credit Union

 

*** 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.

Unforgettable Olympic Moments

1. The come back of Simon Biles in women’s gymnastics

 

2. Women’s Gymnastics: The queen: After Chiles accepted her bronze medal and Biles her silver, Andrade was introduced as the Olympic champion. As she approached the podium — completing the first all-Black podium in Olympic gymnastics history — Biles and Chiles turned to Andrade, dropped to one knee and bowed. Afterward, they called her a queen. — JULIET MACUR

 

3. Men’s swimming: Katie Ledecky and her cowbell. And for one ecstatic moment, the most decorated women’s swimmer ever appeared to lose her breath. Ledecky had won her own gold at that distance four days earlier. That night, she said that thinking about her training partners, like Finke, had been one of the things that got her through.

 

4. Men’s singles Tennis: Novak Djokovic, a 37-year-old Serb, has done so much in his tennis career: winning 24 Grand Slam singles titles, earning the world No. 1 ranking and raking in over $180 million in prize money. But when he finally achieved the only major milestone missing from his illustrious résumé, an Olympic gold medal, he was overcome with emotion.

 

5. Men’s 200-meter: The final had ended and Noah Lyles had won the bronze. But suddenly that was not the story. Lyles dropped to a knee and then onto his back on the track, gasping for breath. He asked nearby workers for help. They brought over water and a wheelchair. Something was not right. Lyles was rolled away, disappearing under the stands. He had Covid and still accomplished what he did.

 

6. Armand Duplantis, otherwise known as Mondo….Mondo has a career has been built on great skill and savvy decision-making. He grew up in Lafayette, La., but competes for his mother’s native Sweden, which selects its team instead of subjecting its athletes to the crucible of Olympic trials for a spot. And with a bonus of up to $100,000 available for a world record, he maximizes his paydays by inching the mark higher one centimeter at a time. On Monday, the bar was set at 6.25 meters (20 feet 6 inches). Duplantis missed once, then twice. On his third and final attempt, he fell to earth while the bar remained on its perch. He had another record, sliced as thinly as an onion. — JERÉ LONGMAN

 

7. Men’s Pole Vault: Armand Duplantis has been built on great skill and savvy decision-making. He grew up in Lafayette, La., but competes for his mother’s native Sweden, which selects its team instead of subjecting its athletes to the crucible of Olympic trials for a spot. And with a bonus of up to $100,000 available for a world record, he maximizes his paydays by inching the mark higher one centimeter at a time. On Monday, the bar was set at 6.25 meters (20 feet 6 inches). Duplantis missed once, then twice. On his third and final attempt, he fell to earth while the bar remained on its perch. He had another record, sliced as thinly as an onion. — JERÉ LONGMAN….. not to mention the other pole vaulter that got A LOT of attention 😘😘😘

 

8. The Tara Davis-Woodhall story is amazing…. Tara just won gold in the long jump and the first person she ran to was her husband who has an amazing story himself….. Please read.

 

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Emerald Bay Market Update

 

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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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