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Our friends and family span many backgrounds and nationalities and we know there are members of our family who are personally affected by the developments in Ukraine. COMPASS Cares has identified a few ways that we can help the people of Ukraine: Ukrainian Red Cross Society is collecting donations to help those in need affected by armed conflict: blood collection, mobilization of volunteers and resources – Donate Here United Help Ukraine is receiving and distributing donations, food, and medical supplies to internally displaced Ukrainians and families – Donate Here Nova Ukraine is bringing humanitarian aid to vulnerable populations in Ukraine – Donate Here Save the Children is delivering lifesaving aid to vulnerable children in Ukraine and around the world – Donate Here |
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San Diego Real Estate |
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Will the market slow in 2022? Interest rates have risen almost a full percent in 8 short weeks since January 1 (3.05%) to now (4.0%) - faster and higher than projected this early in the year. The average Expected Market Time (the time a home is listed for sale and when it goes under contract) dropped from 27 days to 19 days. The number of active listings is increasing at the same rate as buyer demand, making it a more fierce seller's market than 2021. What will it take to slow this market? Since we know history usually repeats itself, let’s reflect on 2013 when there was a very limited supply of available homes to purchase like what we are seeing now. Between January and September, 2013 interest rates rose from 3.34% to 4.5%, paving the way to a shift in the market from an Insanely Hot Seller’s Market to a Slight Seller’s Market, as overpriced listings sat on the market allowing for the inventory of available homes to rise over time. With a rising supply and muted demand, the overall speed of the market slowed and Expected Market Times climbed. For the market in 2022 to experience a similar shift, mortgage rates must persist at between 3.75% and 4% for an extended period, and then eventually climb above 4% with staying power. If that occurs, as more homes come on the market during the spring and summer, demand will be muted, and the inventory will substantially climb for the first time in 3 years. If you have questions about the current or expected market for 2022 or are considering buying or selling, reach out to me and I'd be happy to discuss your personal circumstances. Source: Steven Thomas, Reports on Housing |
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Recent Activity |
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Congratulations to our clients who were successful in reaching their real estate goals last month! We are truly grateful for the opportunity to be your partner in this process. |
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Contact me to learn how the homeowners of 2102 Meade Ave used Compass Concierge to invest in improvements before listing the home to generate a swifter and more profitable sale. |
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Tax Tips: Cost Basis |
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When calculating how much your home has increased in value for tax purposes, you have to identify its cost basis - meaning the purchase price plus capital improvements made to the property. The IRS defines this as "a home improvement that adds market value to the home, prolongs its useful life or adapts it to new uses." Capital improvements and other expenses you can add to your cost basis include: settlement costs, improvements to sell your home, home additions, lawn and grounds improvements, exterior/interior improvements, system upgrades and more. Click here for more extensive examples.Keeping good records will make this calculation easier and potentially help you save money when you sell your property. Remember to contact your tax preparer for professional guidance. |
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Local Events |
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Carlsbad Flower Fields Don't miss out on this spectacular display of natural color and beauty in the North County hills! The nearly 50 acres of Giant Tecolote Ranunculus flowers that make up the Flower Fields at Carlsbad Ranch in Carlsbad, California, are in bloom for approximately six to eight weeks each year - from early March through early May - literally bringing the famous fields back to life. Details here. |
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40th Annual St. Patrick's Day Parade & Festival The Annual San Diego St. Patrick’s Day Parade will begin on Saturday, March 12th, 2022 at 10:30 a.m. on Fifth Avenue at Laurel Street as thousands of marchers and spectators gather to celebrate the Patron Saint of Ireland. With over 120 Parade entries, this event is not to be missed! Full schedule here. |
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San Diego Crew Classic March 26th - 27th The SDCC brings together thousands of athletes from more than 100 universities, clubs and high school programs across the United States. The Crew Classic is a fun social gathering for enthusiasts to enjoy great local food, a beer garden with San Diego’s famous local craft breweries, and shopping. The event is held at Mission Bay, details here. |
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Lifestyle Tips & Tricks |
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10 Surprisingly Affordable Housing Markets Across America With the rise of remote work, Americans no longer had a need to center themselves in big cities, and moved into more affordable housing markets. Home sales hit a 15 per year record high in 2021. Price hikes aside, there are still plenty of housing markets in America that would be deemed affordable for the average family. Check out the top untapped housing markets in the country!
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How to Combine Decorating Styles for a Cohesive Look |
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8 Traditional Irish Desserts for Celebrating St. Patrick's Day There's no reason you can't enjoy Irish desserts year-round, whether you have an Irish heritage or not. Whether you're celebrating St. Patrick's Day or just looking for a satisfying, classic Irish dessert, these scones, shortbreads, and cakes will hit the spot. |
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Colorful Yet Hardy Plants to Grow in March Many local nurseries will start stocking their greenhouses with young edibles, perennial herbs, and flowers that can transplant in March. However, there's something special about watching a seed you sowed grow into a bountiful, lush plant over time. March is truly a month of planning for, prepping, and enjoying all four seasons in the garden. |
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To view past news and more, click here. |
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