Paulo Prietto - Compass

09/09/2021

The summer market was hot! The same theme throughout the year remains the same: low, low inventory, strong demand and increasing prices. Here's the latest market report of August 2021.

02/26/2021

FIVE THINGS
Right now in the markets, there are FIVE things that REALLY matter:

1. Interest rates: They are at historical lows, but rising. Why? The economy is improving and may continue to improve significantly throughout 2021. Higher interest rates may cool some of the irrationally exuberant bidding that may cause appraisal problems.

2. Supply-demand: US housing stock is UNDER-supplied. We have been underbuilding for over a decade. The past few months keep flashing a red light on this subject.

3. COVID: 46.1 million people have received at least one dose of a Covid-19 vaccine, including about 21.6 million people who have been fully vaccinated......240 million should be in distribution within a month! A one-shot vaccine is a game-changer. Eliminating hospitalization (and death) changes everything. The POST-COVID era is approaching, faster than most acknowledge.

4. New Buyer Competition: New, large corporate all-cash single-family home buyers are new buyer competitors in the market further fueling the supply-demand imbalance. As COVID wanes neglected/abandoned markets will re-awaken.....they already have.

5. STIMULUS STEROIDS: Trillions of federal dollars will be flowing into the economy - along with corporate and privately saved dollars - lowering unemployment, causing rising demand.....and a potential frenzy of spending......that may cause inflation.....that could cause pressure to raise interest rates.

There is no doubt in my mind now that we are entering a ROARING moment. This is not unusual after an extended slumber....

09/25/2020

https://www.latimes.com/homeless-housing/story/2020-09-23/southern-california-home-prices-jump-12-percent-in-august

The Southern California median home price rose 12% in August, as people took advantage of rock-bottom interest rates amid the COVID-19 outbreak.

08/31/2020

Introducing... 60 Lagunita | $2,300,000

Lagunita is a true hidden paradise... a small gated oceanfront community sitting on one of the most spectacular beaches in storied Laguna Beach. In this quiet neighborhood of just 61 homes, 60 Lagunita is is a special gem and offers a chance to live in the prestigious community of Lagunita.. Originally constructed in 1952, the home has remained a beloved family home for more than 65 years. The two bedroom home carries an appealing mid-century ranch vibe, with a 1967 permitted addition creating a magnificent great room on the back of the property. With 65 feet of frontage on the view side, the property parcel is approximately 6,000 square feet with stunning ocean views from the living room and master bedroom. All homes in Lagunita share private neighborhood access to the sands of Victoria Beach, and sit less than a block from the famed Montage Resort. The home has great bones, and is ready for a refresh for its next 65 years. This is an opportunity to restore the existing original beach house or to completely redevelop the site. Whether you're looking for a primary residence, second home, or an investment, this is a rare opportunity to buy into one of Laguna Beach's most desirable oceanside neighborhoods. This is an unsurpassed value!

03/25/2020

Updated info on beach & trail closures:

See the story

03/23/2020

DID YOU KNOW? Treasury Secretary Steven Mnuchin said the Federal Reserve will play a key role in lending funds to businesses hurt by the coronavirus pandemic with up to $4 trillion of liquidity to be used to support the economy. The plan is broad-based to help small and large businesses get through the next 90 to 120 days. (Marketwatch)

DID YOU KNOW? Cisco is committing $225 million to assist in efforts aimed at combating the coronavirus while the rest of Silicon Valley initiates an investment blitz to help in the fight. Facebook has announced it will offer $100 million in cash grants and ad credits for up to 30,000 eligible small businesses. (CNBC)

03/23/2020

City of Laguna Beach closes beaches & trail heads to prevent the spread of COVID-19 :(

Laguna Beach community news and information. Police Beat, Laguna Dining, Arts, City Hall and more.

03/20/2020

This just in...B of A is allowing borrowers to postpone mortgage payments for 60 days. This will be a huge help for many homeowners across the country. Read more...

Mortgage relief options are coming fast and furious as the entire country struggles to deal with the spread of the coronavirus.

01/27/2020

Kobe Bryant's legacy is certain to live on by his 10 Rules For Success:
1. Have a Champion's mentality.
2. Outwork your potential.
3. Learn from failures
4. Be a long-term thinker
5. Find your passion.
6. Challenge yourself to grow.
7. Keep going.
8. Protect your dreams.
9. Be driven.
10. Achieve greatness.
(Thanks to Gordon Golub for sharing this)

01/15/2020

https://www.coastalrealestateguide.com/paulo-prietto-agent-of-the-week/

Paulo Prietto: Authentic, Transparent & Service Oriented This Laguna native is as real as it gets There is a good chance that if you are reading this, you already know Paulo. Paulo often affectionately jokes about how big of a family he came from. You likely know one of the many Prietto’s that hav...

01/09/2020

Chapman Economic Forecast Sees Downturn But No Recession in 2020

Thanks to continued job growth and an uptick in construction and homebuilding, there will be no recession in 2020, although the overall pace of U.S. economic expansion will slow to just 1.9 percent, according to Chapman University economic forecasters...

Continued job growth and an uptick in construction will offset downward slowing and keep recession at bay in 2020, say Chapman economists.

07/30/2019

C O M I N G S O O N
Newport Beach pool home ready to make a splash this summer.