Spring Marks the Busiest and Most Dynamic Time for Real Estate

California bounced back solidly as mortgage rates declined throughout the month of February. Spring marks the busiest and most dynamic time for real estate. Recently, our area has seen a surge in quality inventory, giving buyers more options and welcome relief. In fact, active listings in Newport Beach rose 15% between January and February.
 

In the spirit of growth, the Coastal OC market remains strong and competitive after a stellar 2024, notably in the ultra-luxury market (residences which sold for over $10M). Newport Beach, in particular, has experienced a notable surge in demand recently. As a result, homes are staying on the market for a significantly shorter time, with median days on market dropping from 34 days in January to just 17 days in February. 

For those considering a move, staying informed on pricing trends and mortgage rates will be key to your success. For detailed market trends in your area, please reach out...now is a great time to connect!

DID YOU KNOW?
Will the Federal Government release federally owned land to build more homes? Only a small portion of U.S. government-owned land is near cities with housing shortages. About 47 million acres, or 7.3% of all federal land, falls within metropolitan areas that need more homes. (WSJ/NAR)

DID YOU KNOW?
The Boston Celtics was purchased for $360 million in 2002, 22 years ago. This week it sold for $6.1 billion... Why do wealthy people love owning sports teams, besides sports? Tax savings: Amortization allows owners of sports teams to deduct the cost of buying a team over 15 years from their taxable income, thereby slashing their income taxes, even if the team is profitable or, like nearly every major U.S. sports team, skyrocketing in value. Amortization + 13.75% value growth per year = tax savings. The sale of capital gains will also be taxed at the lower capital gains tax rates. Real estate investments afford tax advantages via depreciation...

DID YOU KNOW?
BYD, a Chinese electric vehicle (EV) manufacturer, has unveiled a new "Super e-Platform" that allows its EVs to add 249 miles of range in just 5 minutes, aiming to address "charging anxiety" and rival Tesla's charging technology. (CNN)

DID YOU KNOW?
Wall Street is offering what are dubbed private rooms, gated venues that take the core benefit of a dark pool — the ability to hide big equity deals so they won't impact prices — and add exclusivity, specifying exactly who can partake in any trade. Given that more than 50% of all US stock trading now happens away from public exchanges, it raises concerns about market transparency and potential conflicts of interest.  (Yahoo Finance)

DID YOU KNOW?
People who are good at navigating conflict don’t have the mindset that disputes are bad. They see them as opportunities for listening, debating, and learning.....without the desire to score points.

• Try to understand their motivation: Ask questions and express genuine curiosity as to how they came to their conclusion.
• Validate that motivation: Even if you don’t agree with their point, you can affirm that you understand how they got there.
• Emphasize your personal connection: Instead of peppering them with facts, be vulnerable and tell them why you disagree with them on a personal level. (Harvard/CNBC)