Blog

What's in Store for the Spring Home Buying Season?

 

April 20, 2024

Good morning,

 

Even with the jump in rates and consequent impact on purchasing power for potential homebuyers, housing supply remains the largest obstacle to more home sales. Fortunately, the inventory shortage has begun to thaw very slightly of late. New listings have been growing on a year-to-year basis providing more options to buyers that are finally beginning to replenish closed transactions each month. However, the number of homes reaching the market are still too few to prevent rising competition as we enter the spring home buying season.

 

Home sales are expected to moderate in response to this more recent jump in interest rates, but the strong economic data and low levels of unemployment continue to put pressure on a housing market that is near historic lows for supply.

 

If you have any questions regarding our local market, please reach out. Have a great weekend!

Information + Updates

Did You Know?

The cost of energy has climbed by 29.4% since January 2021.

 

Did You Know?

While lower rates would fuel housing markets more than anything, a growing economy is equally important: US GDP Growth has outperformed expectations, based on a combination of government spending, increased immigration and resilient consumer demand. Recent estimates point towards slowing growth in 2024, but above 1%. Economists now believe inflation will dip to 2,54% by the end of this year. (WSJ)

 

Did You Know?

Cloud seeding? Yup, recently in Dubai using a technique that involves implanting chemicals and tiny particles — often natural salts such as potassium chloride — into the atmosphere to coax more rain from clouds.....resulted in massive downpours, the largest since records were kept in the 1940's, that caused flooding of homes and roads, virtually shutting down the city. (Bloomberg)

 

Did You Know?

In a transportation revolution, bicyclists now outnumber motorists in Paris. Using GPS trackers, Europe’s largest urban planning and environmental agency recorded the movements of 3,337 Parisians between the ages of 16 and 80 years old. Whereas transportation in the suburbs happens primarily by car, the number of people traveling by bike into the city center “far exceeds” the number of motorists. That’s a massive change from even just five years ago.

 

Did You Know?

The IRS recently announced that nearly a million people nationwide haven't claimed their refunds for the 2020 tax year. That includes 88,200 California residents owed $94.2 million, according to the IRS. taxpayers now have until May 17 to claim their 2020 refunds, according to the IRS.

 

Did You Know?

According to a Wall Street Journal article yesterday, even though families have struggled with inflation, the median net worth of the US population has grown notably in the past few years. This increase has mostly been weathered well by assets in stocks and real estate/homes. Boomers had a median net worth, defined as assets like homes minus liabilities like mortgages, of nearly $411,000 as of 2022. That was higher than any other age group.

 

Here’s a breakdown of the U.S. Median Net Worth:

 

Silent Generation: 2019: $284,059 | 2022: $309,620 Up 9%

Baby Boomers: 2019: $279,624 | 2022: $410,830 Up 47%

GEN X: 2019: $170,547 | 2022: $234,200 Up 37%

Millennials: 2019: $28,090 | 2022: $96,505 Up 243%!

 

While some decry the wealth of older generations, they forget/omit the asset growth factor of compounding value over time: older generations have had more time to reap the benefits of compounding. With kids moved on, often their expenses go down. Many work later in life. Notably, nearly 80% of boomers own their primary residence and about 25% own an investment property. More than 50% have retirement accounts like 401(k)s, with a median balance of $191,200. About 27% own stocks & bonds outside of retirement accounts, with a median amount of $201,800.

 

Did You Know?

At TED 2024, a physician and an engineer presented their solution: the PillBot. It’s a small, remotely controlled wireless robot that can swim around in a water-filled human stomach. It’s small enough to swallow (which they demonstrated live on stage), inexpensive to make, there’s (thankfully!) no retrieval needed, and gives physicians an immediate view of the stomach.

 

Did You Know?

Australia could generate 10,000 times more than its total energy consumption solely using the sun, according to government research agency Geoscience Australia. And now entrepreneurs are working on a 2,500 mile-plus transmission line to export this energy..... Australia will install more than 200 gigawatts of utility-scale and rooftop solar capacity by 2050.(Bloomberg)

*** 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.

Craftsmanship

What's Between a Great Idea and a Great Product?

 

Sage advice from Steve Jobs. The journey of a GREAT IDEA…

A GREAT listen.

Watch Video

Art Around Us

 

I love following David Zinn’s chalk creations in cities and small towns…. How creative and what a gift he has and I love that he shares it with us….

Watch Video

Highs + Lows

 

Death Valley is known for being Hot, Dry and Low. The hottest place on Earth with a recorded temperature of 134*F July 10, 1913. In 2020 and 2021 temperatures reached 130*F. It is the driest place in US…some years it receives no rain at all. Badwater Basin is the lowest elevation in North America at 282 ft below sea level. (Laurie Hefty)

Sand Art to Another Level

Experimental Tiles | Fort Stevens Oregon

 

I love Brighton Denevan sand creations just using a towel and a rake

Watch Video

New Lease Listing

12 Month Lease Available August

Summer Rental and Variable Winter Rental

Summer Rental

Available for August

Just Leased

Recent Leases:

 

1503 Emerald Bay

1209 Emerald Bay

517 Emerald Bay

806 Emerald Bay

812 Emerald Bay

107 High Drive

153 Emerald Bay

 

We have a few more vacation rentals and

12 month rentals coming on the market.

 

There are currently 2 active homes for sale in

Emerald Bay listed at $9,995,000 and $12,995,000

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