Pasta and Plane Tickets

Dated: July 7 2023

Views: 249

“I like to climb, I don't care where the summit is"
 

-David Senra

About Last Month...

Last A few statistics I'm following for San Bernardino County:
  • Active listings are what dropped 81%!!!
  • Last year there were 19k active listings. 3.5k last month.
  • Average prices down slightly by -0.8%.
  • New listings are down 35%! 
  • Pending sales are down 31%
  • Closed sales are down 22%!

What does that mean for prices? They are down 4% -- you can blame the FED and the 7% interest rates.  On a $500k loan, buyers are paying $1,000 more per month than March of last year. 

Hunting Season


Over the last month I've done a lot of hunting, not the kind that requires camofloughe and hiking, but rather finding properties that have assumable loans. I have a weekly discussion with clients on how we can find the next 'deal'. Right now, with inventory at the lowest levels in 20+ years, those deals on the market don't exist...which is why we hunt off market.

91% of California home owners have is a loan with an interest rate of 3.5% or lower -- half of the current national average of a new loan. With a home loan lower than the current rate of inflation (4%), there are few people who are willing to move. But with a significant down payment and the patience of a longer escrow period (~90 days), there are diamonds to be found. 

If you are curious of what the options are for assuming someone else's loan, send me an email and we can schedule a time to chat. 
Tell me more about low interest loans! 🙋‍♂️
SOLD!

I'm ecstatic for my client who is going to save 60+ hours a month in commute time following her move from Hesperia to Redlands! 

My second favorite part of the move is how much she will be saving in car expenses -- back of the napkin says $350/month. 😱 
Florence 2017 - What's the statute of limitations on illegal drone flying? 🤫 
Travel Season ✈️ 

So you want to go to Italy? 

We just booked 6 tickets for next March -- current retail price $6,500 -- but we only paid $1,500. Slide into my DMs if you would like to learn some of this sorcery. 

Until next time,

-Patrick

Emilia wanted to make a pasta "volcano". So she made spaghetti by hand. 😁 - #girldad
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PS - If you enjoyed this newsletter, please share it with someone you know.

PPS - If you pay rent and like to travel - you will LOVE the BILT Card. 🤑 

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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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