Mid-Summer Dirt Musings

Iceland is by far one of the most remote and picturesque countries that I have ever experienced. 

Visiting Iceland with a group of great friends, by motorcycle, was as beautiful as it was thrilling. The Icelandic roads - a mix of tarmac and plenty of gravel were all in great condition while we were there in late July 2023. We got to see and share the local Icelanders excitement for earthquakes, volcanic eruptions and nice weather. We were blessed with multiple days of sunshine, little to no rain and a wild (scary) wind storm so strong it nearly blew a few of us off the road one day.

I think we must have seen more waterfalls in those 2 weeks than I have seen in my entire lifetime. Mesmerizing landscapes, volcanoes, volcanic lakes, the west fjords and numerous rivers made for more photo stops than we usually take and traveling by motorcycle seemed to be the very best way to see the sites as we got to visit places way off the (lightly) beaten track. 

Even though I have a passion for adventure, I am happy to be back home, back to work, and ready to help you with all your real estate needs.

Let's rev up your property search

and turn your real estate dreams into a reality!

DID YOU KNOW...

Paris Home prices are down around 8.3% since their high's in 2020. Paris has seen a 52% increase in real estate taxes this year! French banks are not allowed to grant mortgage loans above a maximum rate which is set by the Bank of France limiting lenders’ capacity to pass on the impact of higher rates.... leading some to turn down loan applications. Paris remains the most expensive of all European cities. As of 1 January 2023, occupancy tax only applies to second homes and vacant properties, not main residences. There are three taxes in Paris: a wealth tax for properties worth over 1.3 million euros, and two taxes on its rental value: the taxe d’habitation and the taxe fonciere. (Bloomberg)

Medical researchers say the workers who make and install Quartz countertops - now the most popular choice among home renovators and designers because of their durability and resistance to stains, scratches and heat - are dying of lung disease at a young age, possibly from inhaling the dust from cutting and polishing quartz, silica.... “quartz” is made of an artificial material that includes crushed silica (quartz) with resins, dyes and glass. Roughly 2.3 million US workers are exposed to silica in the workplace, including 2 million in construction and 300,000 in other industries. Many of the new spec homes we broker have Quartz counters 😣 (NY POST)

Minneapolis, which ended single-family zoning in 2018, hasn’t seen a surge of new duplexes and triplexes. The local government said that between January 2020, when the regulation took effect, and 2022, only 41 new projects were approved for construction. (Marketwatch)

There are about 1 million new rental units under construction, which could lower rents and counter some of the upward pressure from higher home prices, but this could take many months to filter into housing cost numbers as they come online.

“If housing begins to recover more meaningfully, that raises the risk that inflation is going to be more sticky,” 

As said by Torsten Slok, chief economist for Apollo Global Management. While the Fed mulls another rate hike - instead of doing things to boost supply - we should note that shelter costs account for roughly 40% of the core CPI basket, and are an important part of the inflation battle. Areas in the US still in super-growth mode that have significant inventory shortages are experiencing sharply higher inflation than the rest of the US and could fuel a higher inflation rate AVERAGE that feeds the decision-making of the FED.....

 In 90402 Real Estate News...

There are currently 

31 Active listings North of Montana Ave.

Well, 32 if you count our newest listing

a single level home that will hit the market in a couple weeks with a list price just below $4M.

Call me for more information!

Other New Listings Include

520 Marguerita Avenue – Listed by us for $14,000,000. A Buyer can purchase pre-completion and the Seller will finish the build OR purchase at its current stage of construction for $7,900,000 and finish on their own. Great 12,000+ sqft lot with pool and impressive guest house.

1122 San Vicente – Listed for $4,599,000. Single level, set-back from San Vicente with some updates. This one is about 3,500 sqft on a 9,400 sqft lot. Last sold in 2002 for $950k.

214 15th Street – Listed for $4,999,999. This house was purchased less than a year ago (last October) for $4,475,000. It is a 2,400 sqft, 2 bedroom house with pool and room above the garage. Looks like a quick flip with a beautiful, newly renovated interior.

424 12th Street – Listed for $4,250,000. Just under 2,200 sqft on a 7,500 sqft lot. 1925 Tudor, ready for updating, but livable as-is.

There are 7 Properties in Escrow

319 14th Street – Listed for $7,988,000 by Pence Hathorn Silver.

455 21st Place – Listed for $7,995,000.

450 15th Street – Listed for $3,299,000.

328 21st Place – Listed for $3,700,000.

364 21st Street – Listed for $9,998,000.

551 Lincoln Blvd – Listed for $5,895,000.

350 21st Street – Listed for $6,950,000.

In the Last Month There Have Been 8 Closings

335 24th Street – Sold by Pence Hathorn Silver for $6,000,000.

611 10th Street – Sold at asking for $4,250,000.

428 26th Street – Sold for $3,968,000. Originally listed at $3,998,000.

239 15th Street – Sold for $3,920,000. Originally listed at $3,695,000.

831 San Vicente – Sold for $3,630,805. Originally listed at $2,995,000.

615 19th Street – Sold for $4,775,000. Originally listed at $4,395,000.

439 18th Street – Sold at asking for $4,413,650.

306 22nd Street – Sold for 3,176,000. Originally listed at $3,500,000.

We have several others that will be coming to market soon and 3 great lease properties if you know someone looking to lease.