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Where is the Luxury Real Estate Market Going?

 

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September 27, 2022

Good morning,

Fall is finally here and I LOVE this time of year…..

 

With interest rates skyrocketing, and a massive lack of inventory, there is a lot of speculation where the housing market is heading…. it will probably be different for the lower end than the higher end. How will it affect Emerald Bay? Stay tuned…….

 

If you're thinking of buying or selling, please consider me your real estate resource. I hope you enjoy my latest newsletter. Have a great week!

Information + Updates

Did you know? What was the first year Tiger woods won his first major golf championship: 16, 18, 21, 23 or 25? (The answer is found somewhere at the end of the Newsletter😜)

 

Did you know? What is the name of the generation born between 1916 - 1928? I just found this great graph explaining the different generations and the dates they were born….. This is helpful when reading about Gen-Z, Millennials, Baby Boomers….. What generation are you?????

Did you know? Profits for companies in the S&P 500 were up 70% from 2020 — an expected rebound from the depressed earnings early in the pandemic — but they were 33% higher than in 2019, which was a pretty good year for corporate profits. ie: This "BECAUSE-YOU-CAN" pricing - or greed - has fueled price surges notably. Argh….

 

Did you know? I have always wondered why so many retail stores sit vacant for so long: why not simply lower the rent? I have since learned that many landlords who own these properties valued them at extremes to draw out capital to finance other purchases.....now many banks won't allow them to rent them for lower rates as they base valuation on rental returns…..

 

Did you know? "The last two years are one of the biggest policy mistakes in the 110-year history of the Fed by staying so easy when everything was booming.”— Jeremy Siegel, Wharton, saying the Fed sat idle when it should have acted, and that now it's over-reaction will hurt workers the most. "Too far, too fast" seems to be the latest chatter in some economic circles.

 

Did you know? Higher US interest rates have bolstered the dollar, exacerbating inflation elsewhere by raising the cost of commodities which are, more often than not, priced in dollars. So while commodity prices are down off their crazy-high's earlier this year making building cheaper in the US, the price to build outside the US is waaaaaay up. (FT)

 

Did you know? Crude Oil and Lumber prices slipped to levels seen in 2018 as the threat of global recession rises. Commodities dropped between 1-6% yesterday! (Maybe good for construction costs?) Check out the Lumber price Fluctuation:

Did you know? Great quotes from COMPASS president Neda Nevab in USA TODAY on the housing market. (122 million web visits per month)  

 

Did you know? The office of the inspector general of the Labor Department, previously attributed about $16 billion to duplicate COVID unemployment relief payments or payments made to dead people, individuals with suspicious email accounts or federal prisoners. The office now says the federal government probably made $45.6 billion in such payments. $45,6 billion!!!!! How can this be???? (NY TIMES)

 

Did you know? Target, for the first time in years, is starting big discounts in OCTOBER weeks prior to Christmas shopping season and will have a price-match guarantee if you can beat the price.....a clear indicator they are overstocked....and potential DEflationary pressures. (CNBC

Oh Deer!

Just mind blowing… can you imagine paddle boarding and seeing antlers?

 

We all know about the 120-pound deer that ran into the Pacific Ocean near Aliso Beach on Sunday, Sept. 18. The deer eventually swam about two miles and came out of the water at Main Beach. He made it all the way to Emerald Bay where animal control was able to sedate him.

 

 Check out the YouTube video…. Just too cool.

 

Click here to watch....

Real Estate News

Luxury Real Estate Favored

as Hedge Against Inflation

 

Where is the luxury real estate market going? According to Real Trends, the real estate market of the past two years is expected to continue (not increase) for the remainder of 2022 and into 2023 despite high inflation, rising interest rates and a stock market that has posted double-digit losses on the year. 

 

HOWEVER, I think it is import to also talk about the opposing opinion posted in the WSJ last Friday.

 

Check them both out…...

 

Real Trends article...

 

WSJ article...

 

For Lease
 
I have pocket listings available. Contact me for details!
 
The Emerald Bay Market

There are currently 3 active homes for sale in Emerald Bay

ranging in price from $6,800,000 to $37,800,000.

Answer to 1st Did You Know?

 

At the age of 21, Tiger Woods won the prestigious Masters Tournament at Augusta National Golf Club in 1997 by a record 12 strokes. It was his first win in one of golf’s four major championships (Master’s, U.S. Open, British Open and PGA Championship). The Master’s tournament only happened because Augusta was rejected in their bid to host the 1934 U.S. Open and co-founders Bobby Jones and Cliff Roberts (he coined the name the Master’s) decided to host their own tournament. Golf legend Jack Nicklaus has won six Green Jackets — the most to date.

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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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