Blog

What's Going on with Real Estate?

 

giphy image

April 23, 2023

Good afternoon,

We continue to face inventory challenges as fewer homeowners are listing properties ahead of the usual spring home buying season. Retail sales and inflation posted its second-straight monthly decline. However, prices remain elevated for core goods and services which will likely push the Fed to hike rates at their May meeting one last time by another 25 basis points. 

 

If you have any questions regarding our local housing market, please reach out. Have a terrific week!

Information + Updates

DID YOU KNOW? 

Children grow faster in the spring. If you think the son/niece/grandchild in your life is sprouting before your eyes now that the winter clothing has been shed, you're probably not imagining things. Researchers have long studied the connection between seasonal changes and youth growth patterns, with substantial evidence pointing to higher rates of growth among children in the Northern Hemisphere during the spring and summer months.

 

DID YOU KNOW? 

Sam Altman, one of Silicon Valley’s most prominent investors and CEO of OpenAI, has placed one of his biggest bets on nuclear-fusion startup Helion Energy, one of a number of tech founders and billionaires hoping to harness the process that powers the sun and stars to deliver almost limitless energy. Jeff Bezos, Peter Thiel, Bill Gates and Marc Benioff are among those betting that the decades long goal of building fusion reactors is now within years of being reality. (WSJ)

 

DID YOU KNOW? 

India is set to become the world's most populous country (1.4 billion people) in the world, surpassing China by mid 2023, whose population is scheduled to go into decline over the coming decades.

 

DID YOU KNOW? 

The distorting effect of averages is not just seen in real estate: some quote that the average EV car costs $65,000.....TESLA is the most popular EV in the US: in the first quarter of 2023, they produced about 440,000 cars. Of those 412,000 (93%) were Model Y (starts at $54,990) and Model 3’s (base price is $42,990).....

 

DID YOU KNOW? 

This weekend, I wanted to Dig into understanding the different generations and what made them who they are.

 

Defining the different Generations (Parenting Alpha)

 

1. The greatest generation (1901-1924)

This generation was considered GREAT due to its remarkable determination and resilience during WW1WW2, and the Great Depression.

  • Integrity
  • Humility
  • Work ethics
  • Financial ethics
  • A big sense of responsibility

 

2. The Silent Generation: (1925 – 1945)

They said very little and worked hard to get by. This probably contributed to their civic approach to work & lifestyle. The effects of the two world wars greatly shaped their characters and preferences in life. The Great Depression (1929 – 1939) and the Dust Bowl, which devastated farmlands in the 30s, also influenced their general wellbeing.

  • Loyal
  • Determined
  • Respectful
  • Thrifty

 

3. The Baby Boomer Generation: (1946 – 1964)

The post-war years allowed them to do what the previous generations had failed to do. They saw a future of prosperity, which also encouraged young couples to give birth to many children.

  • Ambitious, goal-oriented, and competitive
  • Focused and believe in more hours at work
  • Some times careless about wealth
  • Resourceful and team players
  • Bureaucratic

 

4. Generation X: (1965 – 1979)

Gen X just like the Silent Generation, is unfortunate to be sandwiched between Baby Boomers and Millennials. That is why they are sometimes referred to as the Forgotten Generation!

 

Gen X is also defined by its love for music and art, and actually pioneered pop culture as we know it today. Xers grew up watching lots of TV soaps, and for this, have fond memories of ‘Friends‘ and other popular TV series.

  • Work hard
  • Believe in work-life balance
  • Independent-minded
  • Flexible and direct
  • Self-reliant
  • Thinkers and embrace feedback
  • In debt
  • Cynical?

 

5. Generation Y or Millennials: (1980 – 1994)

They are called millennials because they hold the responsibility and opportunity to fully harness the experiences of technology, at the start of the new millennium.

  • Socially driven
  • Ethically diverse
  • Tech-driven and curious
  • Educated and multi-career based
  • Financially conscious and therefore stable
  • Poor at interpersonal skills
  • Less religious

 

6. Generation Z (or iGen): (1995 – 2009)

They also approach fancy lifestyles rather passively in comparison to Millennials. For example, they learn to drive late and become sexually active much later in life. They also indulge in alcoholic beverages a little later than the previous generations.

  • Tech-savvy and ‘always on‘
  • Poor at interpersonal skills
  • Reduced attention span
  • Indoor generation
  • Ethnically diverse
  • Set for online social interactions
  • Less religious
  • Personalized learning

 

7. Generation Alpha: (2010 – 2024)

Alphas will probably be the most transformative generation yet, at least until the Beta generation arrives. Alphas are born in a world saturated with gadgets and are experiencing the implementation of new technology innovations as years go by.

  • Tech-savvy and ‘always on‘
  • Will need 21st century skills in the classroom
  • Will readily embrace metaverse devices such as VR and AR
  • Poor at interpersonal skills
  • Will probably have reduced attention span
  • Less religious
  • Ethnically diverse & aware
  • Largely an indoor generation

Emerald Bay 1918

Circa 1918 - Emerald Bay….. WOW Just came across this advertisement.

Emerald Bay Market

Coming Soon

 

I have a great new listing coming on the market…. Call me for details.

 

For Lease - Corona del Mar

For Lease

For Lease

For Lease

For Lease

For Lease

For Lease

For Lease

Just Sold

There are currently 3 active homes for sale in Emerald Bay

ranging in price from $7,149,000 to $11,000,000. 4 homes have transacted this year. 2 of these homes were pockets which both received multiple offer. The homes listed sold significantly less than what they were listed for and were on the market on average for over 5 months…..

 

5 Emerald Bay Homes

Have Closed This Year

 

324 Emerald Bay

Asking Price - $10.2M

Close Price - $9M

Close Date - 4/14/23

Days on Market - 43

 

1016 Emerald Bay

Off Market

Close Price - $9M

Close Date - 1/18/23

Days on Market - 0

Received Multiple Offers

 

517 Emerald Bay

Off Market

Close Price - $9.9M

Close Date - 2/6/23

Days on Market - 0

Received Multiple Offers

 

133 Emerald Bay

Asking Proce - $7M

Close Price - $6.2M

Close Date - 3/23/23

Days on Market - 114

 

819 Emerald Bay

Asking Price - $7.5M

Close Price - $6.5M

Close Date - 3/28/23

Days on Market - 200

giphy image
Facebook  Instagram  Youtube  

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.
Contact
Connect With Me