3/25 Email

THE WEEK IN REVIEW

Welcome to my weekly newsletter featuring a personal note on the ever-evolving world of real estate along with a few news-worthy updates. Enjoy!

STEALTH WEALTH

I grew up with a very proper grandmother. An old line New Englander who was only addressed as "Mrs. Whittaker," traced her heritage to the Mayflower and reliably commented on what one should and should not do in polite company. She abhorred any discussion of money, considering it brash and uncouth.

So it felt familiar, in a way, to read about the recent $6.1 billion purchase of the Boston Celtics by a buyer few had ever heard of. In an era of ever more ostentatious displays of wealth, the Celtics purchase highlights a demographic that we rarely read about. Those with stealth wealth. Despite significant wealth, these individuals choose to remain understated and avoid loud displays of affluence. They prioritize privacy and financial security over public validation.

Just like some people do not wish to advertise their homes for sale to the planet, the Stealth Wealth set wishes to maintain privacy around all things related to their wealth. Privacy trusts, LLC's, family offices, NDA's and digital anonymity are the name of the Stealth Wealth game.

Several years ago we were contacted by a Buyer prospect who was 100% non-Google-able. Scoping out fraudulent buyers is a regular part of a luxury real estate practice, and we suspected this buyer was wasting our time with a request to see an expensive listing. We almost did not show the property. Turns out he had a net worth in the hundreds of millions and a name no one would recognize.

In a world where Instagrammable displays of extreme wealth taunt us daily, it is possible that privacy has become the ultimate status symbol.

Listing of the week

spotlight on boca raton, fl

6794 Giralda circle

Listing Address

5 BD 4 BA 3,666 SF $2,195,000

real estate & the news

Contemporary scientists agree that there is a hereditary component to personality. Studies of identical twins raised apart pin the genetic contribution at 30% to 50% but we are also shaped by our environment, our peers, our habits and our hobbies. Conscientiousness is the only trait that predicts income and wealth. (Bloomberg)
U.S. existing-home sales rose 4.2% in February from the prior month to a seasonally adjusted annual rate of 4.26 million, far better than expectations. Economists surveyed by The Wall Street Journal had estimated a monthly decrease of 3.2%. (NAR/WSJ)
Federal Reserve officials slashed their economic outlook in the latest projections released yesterday, seeing the U.S. economy growing at a pace lower than 2%. While growing more is good, slower growth is still better than no growth, and if tariffs and worker shortages don't fuel inflation too much, rates could continue their decline if the FED sees the need to fuel the economy. (CNBC)
297,885 single-family homes and condos in the United States were flipped in 2024. That was down 7.7% from 322,782 in 2023 and 32.4% from a recent peak of nearly 441,000 reached in 2022. (ATTOM)

around dc

Cherry Blossom Festival

DC celebrates the blooming of cherry trees with a month-long festival that commemorates the 1912 gift from Mayor Yukio Ozaki of Tokyo to the city. Check out popular festival events in the lead-up to the celebration. Details can be found here.

Lee Arrowood

Principal, Arrowood Advisory at Compass

M: 202.251.3175

O: 202.448.9002

lee.arrowood@compass.com

+$173M Sold In 2023

#3 Team Lead 2022

Office: 301-298-1001

Compass Real Estate is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.