About March 2023

Dated: April 10 2023

Views: 95

“Our brains work like computers: They input data and process it in accordance with their wiring and programming. Any opinion you have is made up of these two things: the data and your processing or reasoning."
 

-Ray Dalio

About Last Month...

A few of the home sales statistics I'm following for San Bernardino County:
  • Active listings are what dropped 77.7%!!!
  • Average prices down slightly by -0.8%.
  • New listings are down 32.9%! 
  • Pending sales are down 39.9%
  • Closed sales are down 39.2%!
If it feels like there aren't a lot of options when searching Zillow - it's because of this graph, active listings has fallen off a cliff!
Seeing Good People Do Good Things

If you haven't heard of Mark Rober, chances are your child has -- and that's because over the last 12 years this former NASA engineer has been making some of the best videos on the internet. His YouTube Channel has over 3 BILLION views!

His latest video is a much watch (valuable for kids too) where he highlights a drone company delivering medical supplies throughout Rwanda with incredible speed and precision. Sometimes new technology is fun and cool, sometimes it saves thousands of lives. In this case, Zipline is both.  

$686,000 - SOLD!

Earlier this month, I had a fun 9 days with two homes selling and two more entering escrow. After the rapid rise in interest rates last year, closed transactions decreased by over 50%, this was a welcomed kick start to the year. 

If you are looking to make a move in the next 6-24 months, click the link below to start the valuation process. 

Find Out How Much Your Home is Worth

Real Estate = College Fund?

Want to give your kids free room and board when they leave for college? Buy them a house when they are born. 

I was chatting with a friend last week about how to create wealth and security for our kids in the future and this topic came up for the second time in a month. Instead of tossing money in 529 Plan, we want to purchase assets that will deliver cash flow and intrinsic value in the future. 

Here is our plan: 

1. Find a property that can be cash flow break even...on a 15 year mortgage. 
2. Sell the home in 10 years with projected 3x return on invested capital.
3. Utilize a 1031 exchange to purchase a home in the town where our child attends college
4. Gift the house to the child following graduation.

There are a multitude of strategies that can use Real Estate to pay for things later in life, if you would like to brainstorm about options that might help pay for your lifestyle, let's chat.

Until next time,

-Patrick

PS - If you learned something, please share the newsletter with someone you know.

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Patrick Edgett

Hi I'm Patrick Edgett, I live in Southern California, I am a realtor.  I am a #girldad to four amazing humans!In my past life I have worked on marketing campaigns for the governor, prod....

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