March 9, 2024

Good morning,

Recent economic reports suggest that inflation continues to cool from last year but may remain sticky in the short term. As a result, mortgage rates have been moving mostly sideways in the past couple of weeks. With the labor market easing and consumers spending less since the start of the year, the economy could see a slowdown in the months ahead. While it is widely expected that the Federal Reserve will not cut its policy rate in its upcoming meeting, mortgage rates could begin to trend down more meaningfully towards the end of the second quarter if the economy continues to slow, or frankly according to Harley Bassman’s Convexity Maven newsletter, not at all.

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

Information + Updates

Did You Know?

Can you even believe that before 1974, women often were not permitted to obtain a mortgage without a male cosigner. The Equal Credit Opportunity Act (ECOA) of 1974 was a turning point for women in America and their financial futures. Before the ECOA, women generally could not take out loans without a male co-signer, and lenders often saddled female borrowers with higher interest rates and larger down payment requirements. We have come a long way! Today, women actually outpace men in homeownership. Of all careers, real estate brokerage has allowed women to soar! Many of the world's leading agents are women. We should celebrate these enormous strides towards full male-female equality! (Bankrate)

Did You Know?

America is running out of power due to AI Data centers. Artificial intelligence, data centers and the boom in clean-tech manufacturing are pushing America’s aging power grid to the brink. (Washington Post)

Did You Know?

Post Brothers CEO and co-founder Michael Pestronk highlighted the real estate opportunity brewing in urban areas as some Americans are opting to rent instead of buying a home. The "Forever Renter" is something happening on the higher end for those who could easily afford to buy but choose not to....Shark Tank's Barbara Corcoran recently said your second home should be one that you rent out.....yes, those who are promoting the rent forever narrative are also.....the beneficiaries: landlords! ($8,000/month in rent equates to $5,75 million over 60 years assuming rents never rise.....)

Did You Know?

Retirees watch 47 hours a week of television….. we need to get these people off the couch!!!!!

Did You Know?

One good thing about higher rates? Higher rates may be acting as a disguised form of economic stimulus......baby boomers and retirees - and many others - have (MUCH) more income from their cash and bonds.. This has also fueled spending. Imagine a retiree with $1 million earning 2% in interest versus 5%...... in an economy reliant on consumer spending, I would bet this impacted the US' GDP numbers and helped prevent a recession....

Of my favorite quotes is from Maya Angelou

“People forget what you say

people forget what you do

but people always remember how you make them feel."

The Emerald Bay Buyer

Where Are the Emerald Bay Buyers Coming From?

Below are the last 2+ years that shows where the Emerald Bay buyers are coming from… There are a lot of agents that will try to convince you where our buyers are coming from, but the proof is in the puddin’.

Skijoring

Where Cowboys Meet the Skiers

You can catch this iconic tradition in Leadville, CO.

Skijoring is a winter sport in which a person on skis is pulled by a horse, a dog, another animal, or a motor vehicle. The name is derived from the Norwegian word skikjøring, meaning "ski driving". Although skijoring is said to have originated as a mode of winter travel, it is currently primarily a competitive sport.

Watch Video

Boating

The future of boating is here!

Watch Video

Timing is Everything

Do You Want to be a Buffalo or a Cow During a Storm?

The natural reaction for a cow when it senses a storm coming is to run away from it? If the storm is moving from west to east, the cow will move further east, trying to “outrun" the storm. Here’s the problem: cows are slow. The storm will always catch up to them. And because the cow continues to try to run away from the storm, it will actually spend more time in the storm than if it had just stood still and never moved at all.

A buffalo takes a totally different approach. When a buffalo senses a storm coming, it moves toward it. If the storm is moving from west to east, the buffalo moves west and will move headfirst into the storm. Because the buffalo is going one direction as the storm is moving the opposite way, it will end up spending far less time in the storm than the cow.

I choose to be a buffalo!