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Recently released reports offer some promising outlook for the California housing market in the medium term and the long term. The anticipated increase in the statewide population in the coming years and a strong desire for many renters to buy in the near future are encouraging news that should help push housing demand to a higher level in the next few years.
With the improvement in housing supply conditions expected to continue throughout the summer and rates projected to moderate more consistently in the second half of the year, more buyers should reenter the market in the later part of the homebuying season.
As always, please reach out if you have any questions or comments with your local market.
DID YOU KNOW? The U.S. has more liquid investable wealth than any other country, with $67 trillion dollars available. Liquid wealth includes listed company holdings, cash holdings, and debt-free residential property holdings. (Henley) DID YOU KNOW? Will A.I. resolve one of the most critical cost issues around construction: SPEED? Homeowners are experimenting with an explosion of new artificial intelligence applications to quickly visualize an array of layout and style ideas, coordinate with builders and designers and estimate costs. These new tools say they can help save time and money in the building and renovation process, which has traditionally been filled with seemingly endless decisions and an avalanche of paperwork that often result in longer projects and ballooning costs. (WSJ)
DID YOU KNOW? The Legends Tower, located in Oklahoma City has been given the green light. The Oklahoma City Planning Commission granted approval for a tower that will rise nearly 2,000 feet in Oklahoma’s capital city, dethroning One World Trade Center in Lower Manhattan as the nation’s highest. (NY TIMES)
DID YOU KNOW? A strong jobs report squashed hopes for an early Summer rate cut as the economy defies expectations and keeps growing, even though reading many headlines you'd be hard pressed to believe this is so... the unemployment rate rose to 4%, from a previous 3.9%, and employment (according to a measure adjusted to conceptually match payrolls) actually fell by 456,000. The contradiction helps explain why some observers see an economy that’s running “too hot” and others see an economy with emerging “cracks” that could be warning of a recession...and FED rate cuts. (Bloomberg) DID YOU KNOW? Buying next door to expand or simply adding on to a home is a growing trend. Benefits include savings on a move, closing costs, potential capital gains tax savings, no new neighborhood learning curve/familiarity, and only 'half' the home may need a mortgage at a higher rate.... (WSJ)
DID YOU KNOW? Copper gutters on a home may be worth mentioning as copper prices are likely to continue to soar. Existing mines and projects under construction will meet only 80% of copper needs by 2030. Copper is used in LOTS of things related to electricity....generators, appliances, manufacturing, you name it! (Consumer Energy Alliance)
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Neighborhood Market DataOur coastal neighborhoods each offer different nuances - varied lifestyles, amenities, and overall community planning. Every Monday, I tap into Altos Research to get a market snapshot. While I pay close attention to national headlines, our local markets tend to tell a different story. Type in your zip code, and utilize the charts for the in-depth data.Click here..
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SUGOTucked away on Paularino Ave in Costa Mesa, Sugo is one of the best pizza spots I know! Born and raised in Atina, Italy, Chef Sandro is known for his unique cuisine - rooted in Italian cooking while offering a modern twist. A "fast-casual concept", select from an array of rectangular pizzas which are then sent to the oven on a small sheet pan, ready to serve. The dough is airy, light, and crispy...and high-end toppings devine. Check it out...
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Midsummer by the MarinaCelebrate summer in Scandi-style at Lido Marina Village! On Friday, June 21st, sister restaurants Skål Pizza and Malibu Farm are set to host a swoon-worthy Midsummer soirée. ‘Midsummer by the Marina’ promises all the makings for a perfect Girls Night Out amidst beachy-boho vibes and a stunning waterfront backdrop. Guests will enjoy smorgasbord-inspired bites and signature sips, complimentary flower crowns, tarot card readings, Swedish candy, a step-and-repeat flower wall for the perfect photo moment, and more!Check it out...
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36 Outdoor Kitchen IdeasThere’s so much to love about sunny summer days—lazy afternoons lounging by the pool, out-of-office replies, and vacation, to name a few. None, however, quite compare to the simple pleasure of having a meal outside. What makes a great outdoor kitchen and lounge space is a space that transforms from day to night, providing elements of relaxation and good vibes...Details...
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11 Boutique Hotels That'll Have You SwooningFrom La Jolla to downtown LA, unpack your bags at these small but mighty hotels! Whether the idea of a getaway has been on your mind or you’re just now ready to run away, check this out..Southern California has vacation vibes written all over it, with its countless boutique hotels that rest near the beach, in the mountains and even in the desert. From coastal hues to ocean views and beyond, this guide to boutique hotels in SoCal will quickly become a go-to for your bucket list. You’re welcome.Details...
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108 Via Undine, Lido Isle4 Bed | 4.5 Bath | 3508 Sqft | $5,800,000108 Via Undine features a spacious backyard unlike any other on Lido Isle. Situated on an oversized 53’ lot, this recently remodeled home embraces indoor-outdoor living.
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113 Via Yella, Lido Isle4 Bed | 3 Bath | 1866 Sqft | Call for DetailsRecently remodeled, this Spanish-inspired home highlights timeless architectural details while embracing a modern coastal flair.
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220 Via Koron, Lido Isle3 Bed | 3 Bath | 2352 SF | $5,295,000 ListREPRESENTED BUYERSMeticulously transformed and spanning approximately 2352 square feet, this newly crafted home offers the perfect blend of modern luxury and island-inspired design.
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