Greetings
I think Autumn is my favorite season because it’s the season of transitions. And if we are willing to let go of what has been and accept the unknowns of what may come, transitions always bring opportunities.
This month, I’m thrilled to introduce you to a wonderful realtor who can help you navigate the changing market in San Diego's North County. I'm also sharing insights on how the recent half point interest rate cut changes things for both buyers AND sellers, highlighting an incredibly charming new documentary, and presenting a first look at a beautiful new listing in Malibu.
Let's Dive In.
The Dolphin Trainer: Meet North County’s Shannon Elias
While many realtors bring diverse backgrounds to the business, my friend Shannon’s prior work experience is a cut above. Originally from Kansas City, he relocated to San Diego in 2004 where he lived out his childhood dream of training dolphins and sea lions and swimming with sharks. But a few years later, after getting his Home Inspector’s license and buying his first property, he decided that real estate likely offered a safer career path, especially for someone starting a new family.
You can meet him in the short video below and if you’re interested in exploring any of San Diego’s North County communities (Carlsbad, Encinitas, Del Mar, etc) for purchase or investment purposes, I’d be thrilled to make an introduction.
Falling Rates Means Rising Opportunities
By now you're likely aware that on Sept 18 the Federal Reserve reduced its rate to 4.8%, a half-point cut from a two-decade high of 5.3%. It also penciled in two additional quarter-point rate cuts for later this year.
So what does that actually mean for buyers and sellers?
In general, a lower interest rate will reduce monthly mortgage costs, making homeownership more attainable. In turn, with access to larger loans and increased purchasing power, we would expect the buyer pool to grow. That’s good news for home sellers, especially those who price realistically and view their property through the critical lens of a buyer who will be captivated by a move-in ready home.
The bigger question is will this reduction begin to unlock inventory in what has been a long frozen housing market. As Chairman Powell stressed to reporters, homeowners have been reluctant to give up their historically low mortgage in favor of a new purchase at more than double their existing rate. "As rates come down, people will start to move more, and that's probably beginning to happen already," Powell said.
Reach out to better understand your opportunities in this ever-changing market.
Courage and Change
Will Ferrell and former "Saturday Night Live" head writer Harper Steele had been buddies since joining SNL in the mid-1990s. Two years ago, Steele sent an email announcing that she had transitioned to a woman. How they approached the changing dynamics of their friendship became the basis of "Will & Harper," a new Netflix documentary in which the two embark on a cross-country road trip – 17 days of laughter, tears and beer.
Honest, heartwarming and hysterically funny, I can't recommend Will & Harper highly enough. It's now playing on Netflix.
Featured Listing
11840 S. Beach Club Way Malibu, CA 90265
2BD|3.5BA offered at $2,850,000
Listed by Ellen Francisco
310-383-1282|DRE #00709314
If sand between your toes and the relentless sound of surf upsets you, then simply move on. On the other hand…
