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- National Association of Realtors reports that the rate for a 30-year fixed loan has risen from 5.27% to 5.3999% since the beginning of May.
What does this mean for the debate of rent vs. buy? Should it be an option for you, we believe buying is the way to go!
One major piece of advice, especially among the midst of national inflation: adjust your budget to both save & buy! And don’t get caught up in the FOMO (fear of missing out) for that out-of-budget home; the thrill of the home will subside, the mortgage payments will not.
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- Realtor.com shares exciting news of a well-loved Long Beach bungalow that just arrived on the market featuring an underground wine cellar and private Irish pub!
The residence was last sold in 1999 for $285,000. It is now listed at $1.25M.
- Next up, are HOA perks worth the price? Realtor.com highlights 5 amenities that buyers desire but rarely use: clubhouses, tennis courts, screening rooms, roof decks, and recreation centers.
Due to the fact these have limited hours, it is less likely residents will be utilizing the full value of what they're spending. Our Advice, assess what HOA amenities you will actually be using before you buy.
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- President Joe Biden has released a Housing Supply Action Plan with the ambitious goal of increasing the housing
supply enough to end the inventory shortage within 5 years!
Realtor.com reports that the nation is short about 5.8 million single-family homes — this doesn't include condos, rental apartments, or other forms of housing. Much of Biden's plan focuses on providing financial incentives for communities to allow more smaller homes to go up and offer financing for builders who put up more lower-priced housing.
Sourced from the Realtor.com, Mortgage News Daily, and The National Association of Realtors.
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COMPASS delivered strong results in a dynamic real estate environment, where we are seeing increased uncertainty due to macroeconomic and geopolitical conditions that are affecting many industry and company share prices in the US and around the world. Despite the challenging conditions, COMPASS delivered record Q1 revenue, exceeding our Adjusted EBITDA expectations:
- Revenue: We delivered first-quarter revenue of $1.4 billion – up 25% year-over-year.
- Transactions: We closed 47,367 total transactions, up 18% year-over-year, compared to a year-over-year 5% decline in transactions for the residential real estate market[1].
- Gross Transaction Volume: We generated over $53.7 billion in gross transaction volume – up 23% year-over-year.
- Market Share: Our market share grew from 6.1% in the first quarter of the year, up from 5.6% in 4Q21 – demonstrating our ability to gain market share regardless of market cycles.
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Local Events. Crafts. Business Spotlight.
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Fahi's Skin and Wax Bar! Female owned and operated! This beauty destination offers many services to make you feel pampered and beautiful— indulge in that self-care.
Cafe Vida! A crowd favorite for Pacific Palisades residents! They serve delicious cuisine with ingredients freshly sourced from the weekly farmers markets that take place in the village every Sunday.
Sweet Laurel Bakery! A guilt-free delicious dessert spot! Taking pride in their "whole foods" approach by using 5 ingredients or less, Sweet Laurel Bakery boasts grain free, dairy free and refined-sugar free treats! All menu options are paleo with vegan and keto options as well.
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Pacific Palisades Single-Family Housing Stats
Median Prices are calculated by square footage, lot size, beds & baths, and property age:
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$12,247,500 - 6,979 0.25 - 0.5 acre - 5/7 Bd/Ba - 23 yrs
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$6,847,499 - 4,743 0.5 - 1 acre - 5/5 Bd/Ba - 62 yrs
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$4,997,500 - 3,489 0.25 - 0.5 acre - 4/5 Bd/Ba - 41 yrs
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$2,935,000 - 2,203 6,500 - 8,000 sqft - 3/2.5 Bd/Ba - 68 yrs
*Statistical housing stats are sourced from the California Multiple Listing Service pulled by neighborhood zip code.
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Pacific Palisades Blog
Pacific Palisades is a luxuriously modest coastal neighborhood nestled between the mountains and the Pacific Ocean, offering an upscale likeness while fostering its small town charm. Palisades residents often can enjoy a stroll in the park, a beautiful hike in the Santa Monica Mountains, delicious food from a number of well-loved, newly renovated restaurants and fun activities suited for the whole family.
Read our blog to see the Palisades neighborhood businesses, housing stats, and a local's opinion of the area!
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Our Top 10 Father's Day Gift Options
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Five Basic Principles of Feng Shui
- Earth
- Metal
- Water
- Wood
- Fire
Read more from the Spruce to see how you can add Feng Shui elements to your home!
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© Compass 2022 ¦ All Rights Reserved by Compass ¦ Made in NYC
Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.
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