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We're Getting Closer to Having New Inventory on the Market…. Stay Tuned!

 

 
March 5, 2022
Good morning,
 
From Jeannie Denholm at Scape in Corona Del Mar
Recent digital image inspired from artist's photo of St. Sophia Cathedral, Kyiv
Click here for the full story of this artist.
 
My heart is breaking for the Ukrainian people! While I try to keep things positive in my newsletter, I can’t but recognize the heroic actions of the Ukrainian president and the Ukrainian people. As much as I want to not look at the reality, I realized that it is important during these moments not to bury our heads in the sand. 
 
A friend’s mom used to say: 
"Without awareness, there can be no improvement...watch closely and learn."
 
Those who lived through WW2 are the wise ones. So today, I choose to keep my eyes wide open and while I may be upset by what I see and read, it pales compared to what hundreds of thousands of people are experiencing right now. Times like these remind us just how fortunate we are compared to these poor souls, victims of the cruelty and brutality that some thought impossible in the 21st century. Their gift to us is the important reminder that evil lurks everywhere and we have to be vigilant, strong and prepared for it, and identify it, and stand up to it before it happens to us.
 
Information + Updates
 
This morning let's start with some GOOD news....yes, we all need some of that right now!
 
  1. Weekly jobless claims dropped 17,000 to 232,000
  2. Continuing claims decreased 112,000 to 1.476 million
  3. Fourth-quarter US GDP growth was raised to 7.0%....WOW!
  4. New daily COVID Omicron cases are down 90% off their high's and hospitalizations are down 44% in 2 weeks!
  5. Travel bookings for this summer are ABOVE levels at this time in 2019......book your Summer vacation now!
 
Did You Know? COMPASS is the exclusive luxury real estate brokerage to sit on the board of WealthX due to the innovative ways in which we leverage the platform to search wealthy consumers. WealthX recently published an article citing The Ultra-Luxury Report, titled “The Super-Rich Bought More Than $40 Billion In Luxury Homes Last Year”. Read article here
 
Did You Know? To anyone planning to buy NFT's, BEWARE. This arena is rife with scammers. A COMPASS agent was scammed and robbed of a $50K NFT from his Metamask wallet. Most NFT sites have an ending other than .com or .co so it's hard to tell if the site is legitimate. Phishing sites somehow work their way up on Google to be ahead of the original site. When he googled the site, the fake site with the same site name - but different ending - came up first. It then asks you to connect your NFT/ Crypto wallet to the site, which is normal. But you're in fact connecting your wallet to a fake site. Once connected they stole his NFT worth $50K…
 
Did You Know? Housing has made a smaller contribution to inflation so far—0.6 of the 5.5 points of excess inflation—but given the way the Bureau of Labor Statistics measures them, housing prices are likely to rise sharply this year. This is a problem. But, it was also a big problem before the pandemic, when rents were rising by nearly 4% annually. Housing affordability is a serious issue in the U.S.  Over the past year, prices overall have risen by 7.5%, far above the usual 2% inflation target set by the Federal Reserve. But 70% of that 5.5 points of excess inflation has come from two categories that make up just 15% of the consumption basket: energy (2 points) and new and used cars (1.9 points). Used cars alone make up barely 4% of the consumption basket, but accounted for a third of the excess inflation. Pricing should correct the moment car production is corrected and energy prices come down once geopolitical instability settles. Home/rent prices could remain high and head higher and become the lead driver of painful inflation. Constraining monetary supply may make this worse, not better. (Barrons)
 
Did You Know? Rivian may be an indicator of things to come: the EV car maker announced it would raise prices by 20% - far more than the inflation rate - to bolster its profitability. The consumer revolted with mass cancellations of car orders. Consumers will pay more and more.....until they don't, especially when they see they are being price-gouged under the ruse of high inflation. Rivian reversed course immediately. Their CEO apologized profoundly for his poor judgement (a miracle in today's day and age where no-one seems capable of admitting fault!). Maybe - just maybe - Wall Street's lust for huge profits is partially to blame for some of the excess inflation we are experiencing? Some say there is 'great opportunity' during times of crisis.... Recently while searching for a tile, I identified availability with pricing ranging from $17/sf all the way up to $60/sf....for the exact same tile.
When I asked the $60/sf tile supplier why their pricing was so high, I heard the familiar tune: "inflation, supply-chain, labor….” it used to be “Because of Covid….” Now we have another song. UGH
 
Did You Know? This week in 1933, at the height of the Great Depression, Franklin Delano Roosevelt was inaugurated as the 32nd president of the US. In his famous inaugural address, he delivered these famous words:  
 
“The only thing we have to fear is fear itself.”
 
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Maura Short sold more homes in Emerald Bay than any other agent in 2021 and 2022. Maura has leased more homes than any other agent during this time frame and Maura represents all but one of the leases currently on the market in Emerald Bay.
 
The Emerald Bay Market
 
There are currently no homes listed for sale in Emerald Bay.
 
We are getting closer to having some new inventory
on the market…. stay tuned!
 

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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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