"Of all that is wonderful in the human being, our most glorious asset is the capacity to change ourselves."
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Wishing you a 2024 filled with health, happiness, prosperity and the freedom to spend more time doing whatever it is that you love the most.
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Economic indicators are boding well for real estate heading into 2024. With interest rates 103 basis points lower than this time last year experts predict a busier year for listings and sales. Here are some quick stats about how we ended 2023, where we are at now, and where we are headed in 2024.
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In the last 2 months of 2023, the average, weekly, 30-year mortgage interest rate dropped from 7.79% to 6.61% and stands at 6.76% today.
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CPI inflation declined in 2023 from 6.3% in January to 3.1% in November.
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After its end-of-year rally, the S&P index was up 25% and the Nasdaq up 45% in 2023.
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According to the Case-Shiller Home Price Index, national home values hit a new peak in 2023.
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The number of new listings coming on market in 2023 was the lowest in decades, a dominant factor behind sales dropping to their lowest annual total since the great recession.
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Most experts predict the average 30-year mortgage rate to linger anywhere between 6.1% to 7% range in the first quarter, then decline throughout the year, though likely not fall below 6%.
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CA has a slew of new laws this year. Are you familiar with them? To highlight just a few that affect landlords & owners of vacation rental properties:
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AB 12: No more saving up two month's rent for a security deposit when moving into an apartment. This new law limits the amount landlords can charge for a security deposit to just one month.
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SB 567: Modifies the state's "no fault just cause" eviction to make it harder for a landlord to dislodge a tenant. Starting April 1, the law will require that if a tenant is evicted for an owner move-in, the property owners or their family members must move into a property within 90 days and live there for at least 12 months.
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SB 644: Cancelling a hotel or Airbnb reservation will be a lot easier if the place you are staying at is in California. The new law allows consumers to cancel, without penalty, a hotel or short-term rental reservation within 24 hours after the reservation is confirmed. The reservation must be made at least 72 hours before check-in.
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Congratulations to my wonderful clients! 👏🍾🥂
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41.5 Acres | 8.5 Acre Vnyd | 3/3 Home
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4 Bed | 3 Bath | 0.24 Acres
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A great new addition to downtown Napa is a new market located in Napa's First Street complex (right downstairs from our Compass offices). From the owners of Dutch Door, this food market features a bevy of healthy refreshments, organic grab & go meals and artisan food stuffs. Whether you need a morning espresso, quick lunch, picnic provisions or snacks, Deuces Market has you covered.
1300 First St. Ste #222, Napa
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Tonewood & Courage
Tonewood & Courage will be a destination and gathering space focused on acoustic instruments with live music and sales, coming soon to Deuces Market in First Street Napa. It’s the brainchild of Brian Courtney, who was a Nashville-based musician before becoming a publisher of several music magazines.The store will sell guitars and hand-built instruments by local artisans. In the evenings it will transition into an acoustic music showcase for local and touring singer-songwriters. Community evenings will include strum-along sessions and bluegrass jams with group instruction.
1300 First St. Ste #212, Napa
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For 10 full days, Napa Valley’s world-class restaurants offer exclusive deals on inventive epicurean meals and experiences.
Celebrate the gastronomy of Napa Valley with this showcase of premium ingredients and farm-fresh produce curated and presented by talented chefs. Napa Valley Restaurant Week is the perfect time to explore.
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Napa Lighted Art Festival
The Napa Lighted Art Festival is a celebration of creative arts, technology and lights, and supports innovative techniques using light and light technologies as a growing art medium. This walkable outdoor experience is FREE in Downtown Napa featuring 10 lighted art sculptures for 5 weeks. Projection artwork will be displayed on 3 iconic downtown buildings January 20th - January 28th.
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5 Interior Design Trends That Will Define 2024
Per Architectural Digest's annual design trend predictions these are the top 5:
1. Stone Fruit Chic: Apricot & Peach
2. That's So Metal: Essential Elements
3. Dark and Deep: Jewel Tones
5. Now and Then: Mixing and Matching Historical Eras
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Interior Design Trends: What's IN and What's OUT
Vogue weighs in with their take on what's in and what's out in 2024. A big IN on their list? Quiet Luxury. Think dark woods, luxurious soft textures, and traditionally shaped furniture that can evolve through the decades with re-upholstery.
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Rates are coming down.
Are you ready to get into your new home?
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$949,000 | 3 Bed | 2 Bath
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$2,249,000 | 4 Bed | 4.5 Bath
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$1,750,000 | 2 Bed | 2 Bath
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$895,000 | 3 Bed | 2 Bath
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$349,000 | 2 Bed | 2 Bath
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$5,100,000 | 3 Bed | 2 Bath | 7.72 Ac.
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© Compass 2024 ¦ 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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