1319 Belair Ave, Thermal, CA 92274 44441 Silver Canyon Ln, Palm Desert, CA 92260
REAL ESTATE ARTICLES AN BLOGS
Palm Desert Real Estate: Trends and Predictions for 2024
Palm Springs Oasis: Tailored Neighborhood Guides for Families, Retirees, and Investors
Palm Spring: Examining Vacation Rentals in Palm Springs: An Overview of Market Dynamics and Laws
PRESS RELEASE
Press Release for May 3rd, 2024
Employment Growth Slows as Labor Market Normalizes after Hot Q1
Press Release for May 7th, 2024
Housing Sentiment Again Shows Signs of Plateauing
Press Release for May 17th, 2024
Inflation Slows from Q1 Pace but Remains Elevated as Retail Sales Slump in April
Press Release for May 21st, 2024
Higher Rate Environment Projected to Dampen Housing Activity Through 2024
Press Release for May 23rd, 2024
Existing and New Home Sales Retreat in April as Interest Rates Weigh on Demand
Press Release for May 31st, 2024
Pending Home Sales Pull Back Sharply as Economic Data Slows Amid Still-Sticky Inflation
BRANDY NELSON REAL ESTATE SHOW
EDITOR’S NOTE
As the publisher and your guide through the vibrant tapestry of Southern California real estate, I am thrilled to welcome you to the inaugural issue of the Brandy Nelson Real Estate Magazine. This venture is more than a publication; it culminates my journey, passion, and dedication to connecting people with places they love. It’s an invitation to explore, dream, and discover the perfect home or investment in our unique and diverse landscapes.
My path in real estate has been paved with countless stories, each home a chapter, each transaction a milestone. From the serene deserts of Palm Springs to the lush vistas of Idyllwild, from the historic charm of 29 Palms to the contemporary allure of Palm Desert, I’ve navigated our region’s vast and varied terrains. My role extends beyond that of an agent; I consider myself a custodian of dreams, a strategist for investors, and a confidant to families embarking on new beginnings.
In this magazine, you’ll find not just listings or market trends but a reflection of my commitment to crafting personalized, tailor-made real estate solutions. I believe that the right home can transform a life, and every article, insight, and piece of advice within these pages is aimed at helping you make informed, fulfilling real estate decisions.
My approach has always been about more than just transactions. It’s about building relationships, understanding each client’s unique story, and navigating the complexities of the market to achieve outcomes that exceed expectations. Whether finding that quaint desert hideaway, securing a lucrative investment property, or discovering a family home that’s just the right fit, I am here to guide you through it all with expertise and care.
This magazine is a new chapter in a journey I am so passionate about. It represents my dedication to the real estate profession and to you, my clients, and my readers. As we embark on this journey together, I am excited to share with you the beauty, opportunity, and potential of Southern California real estate.
Thank you for joining me on this adventure. Here’s to finding your place in the sun.
Warmest regards,
Brandy Nelson Publisher and Real Estate Professional
“
PROPERTY INFORMATION:
Prime Commercial Property the former Rite Aid with Fixtures in the center of Palm Desert. Previously housing a successful Rite Aid, this expansive space is now available for a new venture, complete with all fixtures included.Ideal Location: Situated in a high-traffic area of Palm Desert, this property enjoys prime visibility and accessibility, making it perfect for a variety of businesses. Located next to Staples with Highway 111 visibility.Spacious Interior: Featuring a large floor plan, the property offers ample space to accommodate diverse business concepts. The layout is versatile, providing room for customization based on your unique requirements.Save time and resources with the included fixtures from the former Rite Aid. Shelving, display units, counters, and more are ready for use, providing a seamless transition for your business.Established Footprint: Benefit from the property’s history as a recognized retail location. The former Rite Aid enjoyed a strong presence, offering a built-in customer base and contributing to the property’s overall appeal.Parking and Accessibility: Ample parking ensures convenience for both customers and employees. Easy access from major roads enhances the property’s desirability.Perfect for: Retail Stores, pharmacies, health and wellness centers, convenience stores, specialty Retail, etc.
Contact Brandy Now
(760) 592-1571 Phone (760) 238-0552 Cell
PROPERTY INFORMATION:
Step into luxury within the gated community of Indian Palms Country Club. This beautifully upgraded golf course home offers a grand rotunda entry, spacious great room with fireplace, and a covered patio boasting panoramic mountain views. The kitchen features granite counters and a breakfast bar, while the master suite dazzles with golf course vistas and a luxurious ensuite bathroom. Additional highlights include two guest bedrooms, a separate laundry room, and a two-car garage with additional golf cart garage. Enjoy resort-style living with low HOA dues covering landscaping and access to community amenities.Experience the epitome of Palm Springs living in this meticulously maintained home. From the stylish interior upgrades to the breathtaking outdoor views, every detail exudes elegance and comfort. Don’t miss the opportunity to make this your dream oasis in the heart of Indian Palms Country Club!!
85413
$ 450,000
PROPERTY INFORMATION:
Welcome to Your Dream Oasis at 85413 Giorno Ct, Indio, California! Nestled within the prestigious Four Seasons Terra Lago community, this stunning property offers a rare blend of luxury, comfort, and tranquility. Experience the epitome of desert living in this meticulously designed home boasting breathtaking views and unparalleled amenities. Situated in the coveted Four Seasons Terra Lago, known for its serene ambiance and upscale lifestyle. Spanning 1,555 SqFt, this home features expansive living areas bathed in natural light, offering ample space for relaxation and entertainment. Amazing upgrades done by the owner are a landscaped backyard with hookups to accommodate a spa in the back, Leased solar Panels, solar shades for the hot summer months. The backyard is northwest facing with the gorgeous views of the Santa Rosa mountains.
An excellent opportunity to acquire the BEST BUILDING on Jackson Street, the Gateway to Indio. This 9,000 square foot landmark, Kirkpatrick Landscaping Company Headquarters Building, is beingoffered for the first time since was custom designed for the Company. Great opportunity for street signage. There is a current Tenant in the building now takingapproximately 2,000 square feet on a month to month basis; they would stay for the right situation with a new owner.Please note, there is an easement for the road access.
Contact Brandy Now (760) 592-1571 Phone (760) 238-0552 Cell
PROPERTY INFORMATION:
TThis Historic Adobe home began in 1939 when a Los Angeles manager for the railroad, needed a place to stay while working in Indio. The one-room, original Adobe which was approximately 400 square feet and was added onto in the 1960s to accommodate a Kitchen, Laundry, 2bedrooms and one bath. This fixer home is ready for its new owner. The electrical was redone in 2004. The home has had a great rental history since 2010. Bring your toolbox and sweat equity and bring this cute adobe home to the 21st century while maintaining some of the 1930s charm. There is a detached storage shed and a storage room added to the home with access from the west side of the home. Located in Central Indio with a new dog park and minutes from downtown Indio and Miles Avenue City Park
PROPERTY INFORMATION:
TThis Historic Adobe home began in 1939 when a Los Angeles manager for the railroad, needed a place to stay while working in Indio. The one-room, original Adobe which was approximately 400 square feet and was added onto in the 1960s to accommodate a Kitchen, Laundry, 2bedrooms and one bath. This fixer home is ready for its new owner. The electrical was redone in 2004. The home has had a great rental history since 2010. Bring your toolbox and sweat equity and bring this cute adobe home to the 21st century while maintaining some of the 1930s charm. There is a detached storage shed and a storage room added to the home with access from the west side of the home. Located in Central Indio with a new dog park and minutes from downtown Indio and Miles Avenue City Park
PRESS RELEASE
PENDING HOME SALES PULL BACK SHARPLY AS ECONOMIC DATA SLOWS AMID STILL-STICKY INFLATION
May 31, 2024
Key Takeaways:
Gross domestic product (GDP), adjusted for inflation, increased at a 1.3 percent seasonally adjusted annualized rate (SAAR) in Q1 2024, a downgrade of three-tenths compared to the advance estimate, according to the Bureau of Economic Analysis (BEA). The downward revision primarily reflects lower consumption (2.0 percent) compared to what was previously reported (2.5 percent), particularly in the consumption of goods, which outright contracted. Gross Domestic Income (GDI), a measure that is theoretically equivalent to GDP but can differ due to measurement error, increased at a 1.5 percent annualized rate in Q1, a slowdown from a downwardly revised 3.6 percent rate in Q4.
Personal income, adjusted for inflation, was flat in April, according to the BEA. Real disposable personal income declined 0.1 percent, leaving it essentially unchanged since January. Real personal consumption expenditures (PCE) declined 0.1 percent amid a 0.4 percent pullback in goods spending; real services spending inched up 0.1 percent. The saving rate was flat at 3.6 percent. The PCE price index increased 0.3 percent for the third consecutive month, though before rounding the figure was a bit softer than prior months (0.26 percent vs. 0.34 percent). Core PCE rose 0.2 percent, a slowdown compared to first quarter data. Compared to a year ago, headline and core PCE prices were up 2.7 percent and 2.8 percent, respectively.
The Conference Board Consumer Confidence Index increased 4.5 points to 102.0 in May after falling 5.6 points in April. Confidence in the present situation was up 2.5 points to 143.1 while the index for consumer expectations increased 5.8 points to 74.6, a three-month high.
The National Association of REALTORS® Pending Home Sales Index, which record contract signings of existing homes and typically leads closed sales by one to two months, declined 7.7 percent to 72.3 in April.
The FHFA Purchase-Only House Price Index increased a seasonally adjusted 0.1 percent in March after a 1.2 percent jump in February. Compared to a year ago, prices rose 6.8 percent on a nonseasonally adjusted basis, a slowdown of three-tenths compared to February.
Forecast Impact:
The downward revision to consumption in the first quarter will likely flow through to a downward revision to our second quarter consumption, and thus GDP, forecast. This is especially true given the pullback in April consumption and a small downward revision to March’s data. Our fundamental view that growth is likely to slow as the year progresses is unchanged and is in part supported by the now-weaker Q1 and April spending data. On the inflation front, price pressures remain above target, though April’s report was a bit better than first quarter inflation data. Given that other data releases have suggested economic growth is indeed slowing in line with our forecast, we continue to believe that a Federal Reserve rate cut in September remains the most likely scenario.
The sharp fall in the pending home sales index presents some downside risk to our second quarter existing home sales forecast, which already calls for a small decline in sales compared to Q1. Still, we continue to believe existing home sales are near their “floor” and are unlikely to fall much below their current levels before beginning a slow recovery in the second half of the year.
TFantastic property in the Idyllwild with unobstructed views and close proximity to town. The availability of electricity close to the street adds convenience for potential development or construction. Scenic Views with picturesque location. Convenience: The proximity to town is a significant advantage for those who value easy access to amenities, services, and entertainment. The lot is ready for construction, to start building their dream home right away.
4.92 ACRE LOT FOR SALE
PROPERTY INFORMATION:
This remarkable corner lot offers endless possibilities for visionary investors, developers, and entrepreneurs eager to capitalize on the burgeoning opportunities in Lithium Valley. With direct access to major highways and the distinction of being the last commercial highway corner in Salton Sea, this property is a gateway to success. Imagine the potential for a flagship commercial establishment, a cutting-edge technology hub, or a strategically positioned retail destination. The Lithium Valley’s economic landscape is evolving rapidly, and this corner lot serves as a canvas for groundbreaking ventures. The 4.92 acres of land provide ample space for expansive projects, ensuring flexibility and creativity in your development plans. Whether you’re considering a commercial complex, tech park, or retail destination, this prime corner lot is the canvas for your ambitious vision. Lithium Valley, renowned for its significant role in the energy sector, is witnessing unprecedented growth, making it an investment hotspot.
Contact Brandy Now (760) 592-1571 Phone (760) 238-0552 Cell
PROPERTY INFORMATION:
Prime Commercial Lot in Lithium Valley, Thermal - Zoned M1-M2. Unlock the potential of Lithium Valley with this exceptional commercial lot spanning over 1 acre. Located in the thriving hub of Thermal, this parcel is strategically zoned M1-M2, offering unparalleled opportunities for industrial, manufacturing, and commercial ventures. Situated in the heart of Lithium Valley, this commercial lot enjoys proximity to major highways, ensuring easy accessibility for transportation and logistics. The Lithium Valley region is at the forefront of energy innovation and economic growth, making it an ideal location for businesses aiming to thrive in a dynamic environment. Zoned M1-M2, this lot is a canvas for your industrial and commercial aspirations. Whether you envision a state-of-the-art manufacturing facility, a logistics hub, or a commercial development, the M1-M2 zoning provides the flexibility you need to bring your vision to life.
Contact Brandy Now (760) 592-1571 Phone (760) 238-0552 Cell
PRESS RELEASE
HOUSING SENTIMENT AGAIN SHOWS SIGNS OF PLATEAUING
May 7, 2024
HPSI Flat in April as Consumers Continue to Adjust to Higher Rate Environment
WASHINGTON, DC – The Fannie Mae (FNMA/OTCQB) Home Purchase Sentiment Index® (HPSI) was unchanged in April at 71.9 and is showing signs of once again plateauing as consumers continue to adjust to the higher interest rate and home price environment. This month, 67% of consumers indicated that it’s a good time to sell a home, while 20% said it’s a good time to buy a home. These two indicators are up 10 percentage points and 3 percentage points, respectively, since the end of 2023, despite mortgage rates having moved steadily upward. Additionally, the share of respondents who expect mortgage rates to go down over the next 12 months fell to 26%. The full index is up 5.1 points year over year.
“The HPSI, unchanged this month, may have hit another plateau as consumers maintain their ‘wait and see’ approach to the housing market,” said Doug Duncan, Fannie Mae Senior Vice President and Chief Economist. “Overall, housing sentiment increased from November through February, driven largely by consumer belief that mortgage rates would move lower. However, recent data showing stickier-than-expected inflation, rising mortgage rates, and continued home price appreciation appear to have given consumers pause regarding the market’s direction. While only 20% of consumers think it’s a good time to buy a home, 67% think it’s a good time to sell one, a share that’s moved steadily upward since the start of the year. We think consumers’ generally improved sense of home-selling conditions bodes well for listings and housing activity, particularly for the segment of the population who may need to move for lifestyle reasons and have already begun adjusting their financial expectations to the current mortgage rate and price environment. However, for potential homebuyers in less of a rush to transact, ongoing affordability challenges may continue to keep many of them on the sidelines – one reason why we expect home sales to tick up only gradually over the course of the year.”
Home Purchase Sentiment Index – Component Highlights
Fannie Mae’s Home Purchase Sentiment Index (HPSI) remained unchanged in April at 71.9. The HPSI is up 5.1 points compared to the same time last year. Read the full research report for additional information.
Good/Bad Time to Buy: The percentage of respondents who say it is a good time to buy a home decreased from 21% to 20%, while the percentage who say it is a bad time to buy remained unchanged at 79%. As a result, the net share of those who say it is a good time to buy decreased 1 percentage point month over month.
Good/Bad Time to Sell: The percentage of respondents who say it is a good time to sell a home increased from 66% to 67%, while the percentage who say it’s a bad time to sell decreased from 34% to 32%. As a result, the net share of those who say it is a good time to sell increased 3 percentage points month over month.
Home Price Expectations: The percentage of respondents who say home prices will go up in the next 12 months increased from 40% to 42%, while the percentage who say home prices will go down decreased from 20% to 18%. The share who think home prices will stay the same increased from 38% to 39%. As a result, the net share of those who say home prices will go up in the next 12 months increased 3 percentage points over month.
Mortgage Rate Expectations: The percentage of respondents who say mortgage rates will go down in the next 12 months decreased from 29% to 26%, while the percentage who expect mortgage rates to go up decreased from 34% to 33%. The share who think mortgage rates will stay the same increased from 36% to 40%. As a result, the net share of those who say mortgage rates will go down over the next 12 months decreased 1 percentage point month over month.
Job Loss Concern: The percentage of respondents who say they are not concerned about losing their job in the next 12 months decreased from 77% to 76%, while the percentage who say they are concerned remained unchanged at 23%. As a result, the net share of those who say they are not concerned about losing their job decreased 2 percentage points month over month.
Household Income: The percentage of respondents who say their household income is significantly higher than it was 12 months ago decreased from 19% to 17%, while the percentage who say their household income is significantly lower remained unchanged at 12%. The percentage who say their household income is about the same increased from 68% to 70%. As a result, the net share of those who say their household income is significantly higher than it was 12 months ago decreased 2 percentage points month over month.
About Fannie Mae’s Home Purchase Sentiment Index
The Home Purchase Sentiment Index® (HPSI) distills information about consumers’ home purchase sentiment from Fannie Mae’s National Housing Survey® (NHS) into a single number. The HPSI reflects consumers’ current views and forward-looking expectations of housing market conditions and complements existing data sources to inform housing-related analysis and decision making. The HPSI is constructed from answers to six NHS questions that solicit consumers’ evaluations of housing market conditions and address topics that are related to their home purchase decisions. The questions ask consumers whether they think that it is a good or bad time to buy or to sell a house, what direction they expect home prices and mortgage interest rates to move, how concerned they are about losing their jobs, and whether their incomes are higher than they were a year earlier.
About Fannie Mae’s National Housing Survey
The National Housing Survey (NHS) is a monthly attitudinal survey, launched in 2010, which polls the adult general population of the United States to assess their attitudes toward owning
and renting a home, purchase and rental prices, household finances, and overall confidence in the economy. Each respondent is asked more than 100 questions, making the NHS one of the most detailed attitudinal longitudinal surveys of its kind, to track attitudinal shifts, six of which are used to construct the HPSI (findings are compared with the same survey conducted monthly beginning June 2010). For more information, please see the Technical Notes.
Fannie Mae conducts this survey and shares monthly and quarterly results so that we may help industry partners and market participants target our collective efforts to support the housing market. The April 2024 National Housing Survey was conducted between April 1, 2024 and April 18, 2024. Most of the data collection occurred during the first two weeks of this period. The latest NHS was conducted exclusively through AmeriSpeak®, NORC at the University of Chicago’s probability-based panel, on behalf of PSB Insights and in coordination with Fannie Mae. Calculations are made using unrounded and weighted respondent level data to help ensure precision in NHS results from wave to wave. As a result, minor differences in calculated data (summarized results, net calculations, etc.) of up to 1 percentage point may occur due to rounding.
Detailed HPSI & NHS Findings
For detailed findings from the Home Purchase Sentiment Index and National Housing Survey, as well as a brief HPSI overview and detailed white paper, technical notes on the NHS methodology, and questions asked of respondents associated with each monthly indicator, please visit the Surveys page on fanniemae.com. Also available on the site are in-depth special topic studies, which provide a detailed assessment of combined data results from three monthly studies of NHS results.
To receive e-mail updates with other housing market research from Fannie Mae’s Economic & Strategic Research Group, please click here.
About the ESR Group
Fannie Mae’s Economic and Strategic Research Group, led by Chief Economist Doug Duncan, studies current data, analyzes historical and emerging trends, and conducts surveys of consumer and mortgage lender groups to provide forecasts and analyses on the economy, housing, and mortgage markets. The ESR Group was awarded the prestigious 2022 Lawrence R. Klein Award for Blue Chip Forecast Accuracy based on the accuracy of its macroeconomic forecasts published over the 4-year period from 2018 to 2021.
EXISTING AND NEW HOME SALES RETREAT IN APRIL AS INTEREST RATES WEIGH ON DEMAND
May 23, 2024
Key Takeaways:
Existing home sales declined 1.9 percent to a seasonally adjusted annualized rate (SAAR) of 4.14 million, according to the National Association of REALTORS® (NAR). The number of homes available on the market jumped 9.0 percent to 1.21 million, the highest level since October 2022. The months’ supply rose three-tenths to 3.5, while the NAR’s measure of the median sales price of existing homes sold rose 5.7 percent compared to a year ago.
New single-family home sales declined 4.7 percent to a SAAR of 634,000 in April following a downward revision to March’s data, according to the Census Bureau. The months’ supply rose six-tenths to 9.1, the highest level since November 2022. The number of new homes available for sale increased 2.1 percent to 480,000, the highest level since January 2008.
The minutes from the Federal Open Market Committee (FOMC) April 30 - May 1 meeting showed officials are likely to maintain a higher-for-longer policy stance, noting “the disinflation process would likely take longer than previously thought.” In addition, “various participants mentioned a willingness to tighten policy further.” With regard to balance sheet runoff, “almost all” participants supported reducing the cap on the runoff of Treasury securities, with “a few” participants saying they would have supported keeping the current cap or reducing the cap by less than the $35 billion per month that was decided upon.
Forecast Impact:
The decline in existing home sales was in line with our second quarter forecast. The climb in mortgage rates from mid-March through early May is likely to continue to affect sales later in the quarter, though we believe further downside risk is limited because existing home sales are already near their “floor.” The increase in homes available for sale remains supportive of our forecast for a gradual drift upward in home sales activity in the second half 2024 and beyond. New home sales were a bit below our expectations, though, and will likely lead to a downward revision to our near-term forecast. However, with new sales relatively soft and the months’ supply rising, we view this report as consistent with our forecast for a near-term pullback in single-family starts. Looking forward, we continue to expect growth in both new home sales and single-family starts in the second half of the year as the inventory of existing homes for sale, though rising, remains below pre-pandemic levels.
The minutes from the FOMC continue to highlight a likely ‘higher-for-longer’ policy stance, barring a significant deterioration in labor market conditions. While we continue to forecast two rate cuts this year, with the first occurring in September, risks remain weighted toward less easing.
This is a beautiful home that can be rented fully furnished, partially furnished or completely unfurnished. Owner is negotiable on the rent based on the furniture situation. House is located in the gated community of Rancho Santana in La Quinta.
The house sits on a 1/3 of an acre and has plenty of room to entertain. House has 5 bedrooms, 4.5 baths and an office room. Big open kitchen with lots of cabinet and counterspace. Kitchen is open to the Living Room with Fireplace, TV and large windows. Master bedroom has backyard access, dual sinks, separate tub / shower and a large walk in closet. The high ceilings throughout the house adds that extra touch.
Owner will consider lease terms of 3 months (minimum) thru 12 months (maximum). House is available starting on May 15, 2024.
PROPERTY INFORMATION
YManufactured home with 433 cert available in Portola Country Club! Desert landscaped front yard, two bedrooms, two bathrooms, covered car port, storage shed and in a gated community! Located in an active community with all the amenities & activities for you to enjoy: 18-hole par 3 golf course, pickleball, 3 pools, clubhouse with Pub, billiard & fitness rooms. Low HOA fee of $396 includes golf, trash, cable, internet & all community amenities. Close to El Paseo with its great shops & restaurants!
6-unit multi-family located in the middle of Palm Desert. 2 triplex units being sold together and fully occupied by long term tenants. Gated complex with pool in the center and grass area. Laundry room that is coin operated for extra income. Each unit is 2 bedroom, 1 bath and 840 square feet.
PROPERTY INFORMATION
Your Monterey Country Club retreat is ready for you! This 2BR, 2BA condo is a stylish sanctuary with a private courtyard oasis and an extended patio offering serene golf course views. Inside, discover a gourmet kitchen with granite countertops, top-ofthe-line KitchenAid appliances, and built-in wine storage. Dual master suites feature custom built-ins for added convenience. As you step onto the extended rear patio, panoramic golf course views unfold before you - a daily reminder of the breathtaking surroundings. The patio is not only a serene space but also an outdoor chef’s haven, featuring a built-in BBQ island It’s Southern California living at its finest - your dream home is just a showing away!
PRESS RELEASE
INFLATION SLOWS FROM Q1 PACE BUT REMAINS ELEVATED AS RETAIL SALES SLUMP IN APRIL
May 17, 2024
Key Takeaways:
The Consumer Price Index (CPI) rose 0.3 percent in April, a deceleration compared to the prior two months, according to the Bureau of Labor Statistics (BLS). Compared to a year ago, prices were up 3.4 percent, a deceleration of one-tenth. Prices for food were flat over the month, while energy prices were up 1.1 percent due to a 2.8 percent increase in gasoline prices. Excluding food and energy, core CPI increased 0.3 percent over the month and 3.6 percent compared to a year ago, the slowest annual rate in three years. Core goods prices outright declined over the month, while core services inflation was up 0.4 percent, a deceleration compared to the monthly gains in the first quarter of the year. Rent and owners’ equivalent rent (OER) prices also increased 0.4 percent.
The Producer Price Index (PPI) increased 0.5 percent in April but followed a downward revision to March’s data, which now shows a 0.1 percent decline rather than the previously reported 0.2 percent increase, according to the BLS. Compared to a year ago, the PPI was up 2.2 percent. Excluding food, energy, and trade services, core PPI increased 0.4 percent over the month and 3.1 percent compared to a year ago.
Retail sales and food services were flat in April, according to the Census Bureau. Strong gains in sales at clothing and accessory stores (+1.6 percent) and a price-related 3.1 percent jump in gas station sales were offset by weak sales in non-store retailers (-1.2 percent) and motor vehicle and parts dealers (-0.8 percent). Restaurant and bar sales increased 0.2 percent. Control group retail sales (excluding auto, building supplies, and gas station sales) declined 0.3 percent and were revised downward modestly in March.
Industrial production, a gauge of output in the manufacturing, utility, and mining sectors, was flat in April, according to the Federal Reserve Board. Manufacturing activity declined 0.3 percent and was revised downward in the prior month. Mining output declined 0.7 percent and utilities output jumped 2.9 percent.
The National Federation of Independent Business (NFIB) Small Business Optimism Index rose 1.2 points to 89.7 in April, its first increase since December. On net, negative 12 percent of firms expect their real sales to be higher in the next six months, an improvement of 6 percentage points. A net 25 percent of firms reported raising average selling prices, a decline of 3 percentage points. At a net 22 percent, inflation remained the most reported “most important” problem, though this was down 3 percentage points compared to March.
Housing starts increased 5.7 percent to a seasonally adjusted annualized rate (SAAR) of 1.36 million in April, according to the Census Bureau. Single-family starts were down a modest 0.4 percent to a SAAR of 1.03 million, while multifamily starts rebounded 30.6 percent (following a 38.8 percent
decline the month prior) to a SAAR of 329,000. Single-family permits fell 0.8 percent to a SAAR of 976,000, their third consecutive monthly decline, while multifamily permits declined 7.4 percent.
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index declined 6 points to 45 in May, its lowest level since January. The index for sales in the present declined 6 points to 51, while the index for sales over the next six months was down 9 points to 51. The index for the foot traffic of prospective buyers declined 4 points to 30.
Forecast Impact:
The April CPI report was in line with our expectations and is encouraging compared to the data received in the first quarter, though it’s clear that some underlying inflation remains sticky. Core services, for example, remained at a pace that is faster than what would be consistent with the Fed’s 2 percent inflation target but did slow to a 0.4 percent month-over-month gain from 0.5 percent in February and March and 0.7 percent in January. Additionally, the PPI report on its face looked to show accelerating inflationary pressures but under the hood was far more encouraging given the downward revisions to March’s data. We continue to expect inflation will drift downward as the year progresses but will remain sticky enough to prevent rate cuts before September
Control group retail sales, which feed directly into the Bureau of Economic Analysis’s estimates for personal consumption, were weak in April. However, with Easter landing in March this year instead of April, and major spring sales also shifting forward a month, we think seasonal quirks may be understating this data somewhat. Still, this report presents some downside risk to our assumption that consumption growth will remain strong in Q2 due in part to better base effects from the first quarter
The modest pullback in single-family starts was in line with our forecast. While the limited number of existing homes available for sale remains broadly supportive of new home construction and sales in the intermediate to long term, starts have outpaced new home sales in recent months. As such, we expect some near-term softening in starts in response to the relatively weaker sales pace, which would also align with the drop in home builder confidence in May.
Welcome to your dream oasis in Desert River Estates! This upgraded home that is partially furnished is nestled on a sprawling 1/2 acre lot, offering you the perfect blend of luxury and tranquility. As you step inside, you’ll be greeted by an open and airy floor plan that seamlessly connects the living, dining, and kitchen areas, making it an entertainer’s delight. The high ceilings and large windows flood the space with natural light, accentuating the elegant features and fine finishes throughout.The gourmet kitchen is a chef’s haven, boasting top-of-the-line stainless steel appliances, custom cabinetry, and a spacious center island that doubles as a breakfast bar. Whether you’re hosting an intimate dinner party or preparing a family feast, this kitchen is sure to impress.The primary suite is a true sanctuary, offering a peaceful retreat after a long day. Pamper yourself in the luxurious ensuite bathroom with a deep soaking jacuzzi tub, a separate large shower, and dual vanities. The expansive closet provides ample storage for all your fashionable attire.Step outside into your own private paradise. The backyard is a haven for outdoor living, with a covered patio that’s perfect for al fresco dining and a sparkling pool to beat the desert heat. The vast 1/2 acre lot provides endless opportunities for entertainment with an outdoor bar and entertainment area and putting green. RV parking with hookups, outdoor shower, and a putting green.
PROPERTY INFORMATION:
Welcome to this charming property nestled in the desirable Sun City Shadow Hills community. This beautiful home offers a fantastic opportunity for comfortable and active 55+ living. The community also offers a wide array of amenities, including a clubhouse, fitness center, swimming pools, tennis courts, and more.Built in cabinets, open kitchen, granite counter tops. 2 car garage. Large yard with covered patio great for entertainment. Conveniently located near shopping, dining, golf courses, and medical facilities, this home provides easy access to everything you need. Don’t miss your chance to own this delightful property in Sun City Shadow Hills - a vibrant community designed for an active lifestyle.
FOR $305,000
2255 S Calle Palo Fierro Apt 75, Palm Springs, CA 92264
Discover the ultimate Palm Springs retreat at 2255 S. Calle Palo Fierro #75. This ground-level condo offers a welcoming and spacious open floor plan, featuring two generously sized master en-suite bedrooms perfectly positioned for privacy. Step onto your own private patio, where you can relax and soak in the sun. Bonus features include a convenient washer/dryer inside the unit, allowing for effortless laundry days, as well as elegant plantation shutters that add a touch of sophistication to the space.Indulge in the resort-like amenities of Canyon Country Club Estados, where the community enjoys beautifully landscaped grounds adorned with fruit trees. Dive into relaxation with three heated pools and four invigorating spas. Stay active with five tennis courts and two pickleball courts, perfect for friendly matches and staying fit. The community also offers a clubhouse with a function room and kitchen, a fitness center, sauna, and barbecue grills for your enjoyment.With excellent hiking trails, downtown Palm Springs, and the Smoke Tree Shopping Center just minutes away, this condo presents an ideal opportunity for full-time living or a part-time vacation escape. Don’t miss out on experiencing the best of Palm Springs - seize this captivating oasis today!
Palm Spring: Examining Vacation Rentals in Palm Springs: An Overview of Market Dynamics and Laws
With its breathtaking scenery and lively culture, Palm Springs attracts visitors from all over the world who want to explore its idyllic desert setting. Amid the excitement of organizing your ideal getaway, it is imperative to understand the unique aspects of the vacation rental industry, especially about laws and dynamics. We take an in-depth look into the fascinating world of Palm Springs vacation rentals in this extensive guide, illuminating market dynamics and the laws that control them so you may travel with confidence and knowledge.
REVEALING THE DYNAMICS OF THE VACATION RENTAL MARKET:
A multitude of factors impact the dynamic environment that is the Palm Springs vacation rental market. First off, the demand for vacation rentals is greatly influenced by the city’s standing as a top tourist attraction. Palm Springs provides
a wide variety of lodging options to suit every type of traveler, from elegant villas tucked away against the San Jacinto Mountains to charming mid-century contemporary residences.
In addition, the emergence of internet booking portals like VRBO and Airbnb has completely changed the way tourists book lodging, providing them with a wide range of choices outside of conventional hotels. The market for vacation rentals has expanded as a result of this shift toward alternative housing, which gives owners the opportunity to make money from their homes and provide guests distinctive, customized experiences.
But problems like price swings and seasonality come along with this demand spike. Travelers from colder regions of the world come to Palm Springs in large numbers during the peak season, which falls during the winter. As a result, the cost of holiday rentals skyrockets during this
time, posing both opportunities and difficulties for landlords and tenants.
Getting Around Regulations in Palm Springs: Although there are many profitable prospects in the Palm Springs vacation rental market, it is important to carefully navigate the regulatory environment. To promote the peaceful coexistence of visitors and locals, the city has imposed strict rules on holiday rentals.
The Transient Occupancy Tax (TOT), which mandates that property owners gather and submit taxes on short-term rentals, is one of the main laws. This tax contributes to the general upkeep and growth of the city by helping to pay for necessary services and infrastructure improvements.
Additionally, Palm Springs limits the number of houses that can be rented out for a brief period of time within residential districts by enforcing restrictions on vacation rental permits. These rules are intended to protect residential communities’ unique identity and lessen any potential annoyances related to overindulgence in vacation time.
To protect both visitors and neighbors, homeowners must also follow strict rules about noise levels, occupancy restrictions, and upkeep of the property. Property owners should take great care to comply with these requirements as violations can lead to fines and penalties. It is crucial that you comprehend the workings and rules of the vacation rental industry before setting off on your adventure to discover the colorful charm of Palm Springs. You can have a flawless and fulfilling trip and fully appreciate the beauty and charm of this desert paradise by being aware and following local norms. Let your trip serve as an example of how responsible tourism and local preservation can coexist, whether you’re exploring the unique streets of downtown Palm Springs or relaxing by the pool of a mid-century modern marvel.
Ready to explore the vibrant vacation rental
market of Palm Springs? Contact Brandy Nelson for expert advice and personalized service that ensures a seamless experience. Whether you’re looking to rent a chic desert hideaway or considering listing your own property, Brandy is your go-to resource. Call her today at 760-5921571 and unlock the full potential of your Palm Springs adventure with confidence and peace of mind.
Cozy 3-Bedroom Home with Spacious Backyard and RV Parking!Welcome to this charming 3-bedroom, 2-bathroom home with a large back yard and convenient RV parking. This property offers the perfect blend of comfort and practicality.3 Bedrooms: This home boasts three well-appointed bedrooms, providing ample space for your family or guests.Spacious Backyard: The expansive backyard is perfect for outdoor activities, gardening, or simply relaxing under the sun. There’s plenty of space for kids and pets to play, and it’s a great canvas for your landscaping ideas.RV Parking: For those with recreational vehicles or boats, you’ll appreciate the dedicated RV parking space, ensuring that your prized possessions are secure and easily accessible.
Brandy Nelson
Ranch style home with lots of space. Yard is desert landscaped with beautiful native plants and has mature trees, including big yucca trees! Property is fully fenced and includes a shed, 2 car garage and enclosed patio! This 3 bedroom, 2 bathroom home has 2 living space rooms both with fireplaces! About 6 miles from Hwy 62 with shopping and dining.
Investment Dream or Personal Oasis? This 4BR, 3 bath Borrego Springs gem offers endless possibilities! Immerse in luxury with ceramic tiles, granite counters, and stylish remodeled bathrooms. Enjoy energy independence with 40 owned solar panels. Plenty parking for RV, sand toys, etc!! Dip into your own paradise - a spacious pool with fenced privacy. Bonus: Self-sufficient mother-in-law suite beckons with private entrance, kitchen, bath, bedroom, and walk-in closet. Make it yours today
Welcome to your serene desert escape! Nestled in the heart of Lake Tamarisk, this charming home offers a unique opportunity to experience the beauty of the desert with the added luxury of a picturesque lake in the neighborhood and a 9-hole golf course. All of this with no hoa. 3 bedroom, 2 bathroom house, and a lot of storage space. Step outside to a private backyard, where you can enjoy the desert’s natural beauty. The outdoor space provides an ideal setting for barbecues, gardening, or simply basking in the sun. Also has outdoor spa and sauna. Fenced in yard and patio. Large bedrooms, indoor laundry room, with plenty of room. Garage is large with extra storage above and in attic space. Contact Brandy Now (760) 592-1571 Phone (760) 238-0552 Cell DRE # 01471742
BRANDY NELSON
This
1284 Mac Rae Rd, Twentynine Palms, CA 92277
Welcome to the open desert area of Desert Heights!! Located on 5 acres of fenced property overlooking the desert, this 4 bedroom, 2 bath home features four bedrooms and two bathrooms! Beautiful sunsets and mountain views await you!! A FULL renovation has been done on this home! Here is your chance to enjoy this property with your family or as an investment property! When you enter the home through the NEW porch, you are greeted by an open floor plan. You’ll be amazed at how beautiful the new kitchen is, with its custom wood cabinets and tile backsplash!
PROPERTY DESCRIPTION
Welcome to 58710 Natoma Trail, a beautiful 4-bedroom, 2-bathroom home,built in 2020, located in the highly sought-after Western Hills Ranchos area of Yucca Valley. Featuring stunning Joshua Tree views and a spacious three-car garage, this home is the perfect blend of comfort and luxury. The open floor plan makes entertaining a breeze, and the expansive windows let in plenty of natural light. High-quality life proof and water resistant flooring throughout the house, give it a comforting, cozy feel, coupled with lovely rustic cabinetry and luxurious granite countertops. The farmhouse kitchen sink will elevate your culinary experience.
PRESS RELEASE
HIGHER RATE ENVIRONMENT PROJECTED TO DAMPEN HOUSING ACTIVITY THROUGH 2024
May 21, 2024
WASHINGTON, DC – Housing activity is expected to slow modestly compared to previous projections, if the broad upward movement in mortgage rates since the start of the year is sustained, according to the May 2024 commentary from the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group. However, the ESR Group notes upside risk to its latest forecasts for housing starts, single-family mortgage originations, and home sales activity, particularly if upcoming data releases lead market participants to believe that the Federal Reserve is closer to easing monetary policy, which would likely push mortgage rates downward.
The ESR Group forecasts overall economic growth to slow and mortgage rates to end the year near 7 percent. As a result, they expect a slight slowdown in housing activity through 2024 compared to their previous forecast. However, with active home sale listings now up approximately 30 percent compared to a year ago, the ESR Group believes sizable declines in home sales are unlikely and continues to forecast a modest upward drift in existing home sales over the forecast horizon, particularly compared to the historically low sales levels of the previous two years.
The ESR Group’s full-year 2024 real GDP outlook is unchanged at 1.8 percent, as underlying growth in the first quarter remained solid but still appears on track to slow as the year progresses. Household income growth has not kept pace with strong consumer spending and personal outlays on debt interest remain high, suggesting to the ESR Group that the higher interest rate environment will eventually weigh on future consumption. Combined with potential softening in payroll employment growth, the ESR Group expects inflation to decelerate through 2024 but remain sticky enough in the near term to prevent a Federal Reserve rate hike until September.
“The question our economics team is asked most frequently by industry participants remains where we think mortgage rates are headed,” said Doug Duncan, Fannie Mae Senior Vice President and Chief Economist. “For now, we see rates remaining closer to 7 percent through the end of the year – before trending downward in 2025 – but note potential downside to that forecast given recent actual movements in rates. Our consumer survey suggests that households who are paying attention to the housing market continue to take a wait-and-see approach. This is consistent with our latest housing forecast, which does not foresee a dramatic change in activity until affordability improves. Given ongoing supply constraints and recent indications that the labor market may be weakening, a downward movement in mortgage rates appears to be the likeliest lever to achieve an improvement in affordability.”
Palm Desert Real Estate: Trends and Predictions for 2024
As the real estate market in Palm Desert, California continues to thrive, many are looking towards the future and wondering what the next five years will hold. Will the trend of rising home prices and low inventory continue? What impact will the economy and other external factors have on the local market? In this blog post, we will explore current trends and make predictions for the state of Palm Desert real estate in 2024. Whether you are a homeowner, buyer, or investor, this information will provide valuable insight into your future plans in the Palm Desert market. So, let’s take a glimpse into the future and see what’s in
CURRENT MARKET OVERVIEW
•AVERAGE HOME VALUE:
Currently, the average value of homes in Palm Desert stands at approximately $557,993. This figure represents a decrease of 1.5% over the past year. The dip in home values indicates a slight cooling in the market, which could be attributed to various factors including changes in demand, interest rates, and broader economic
store for the real estate market in this beautiful desert oasis.
conditions. This adjustment phase might offer opportunities for buyers looking for lowerpriced homes and signals sellers to adjust their expectations and pricing strategies accordingly.
•MARKET ACTIVITY:
Properties in Palm Desert are moving to pending status in an average of 32 days. This duration provides a snapshot of how long it typically takes for homes to receive offers that lead to sales agreements. A 32-day average suggests a market that is neither too fast nor too slow, offering a balanced environment for both buyers and sellers. Buyers have enough time to make thoughtful decisions without the pressure of an overly rapid market, while sellers can expect a reasonable timeframe to secure offers.
•FOR SALE INVENTORY:
As of January 31, 2024, there were 587 homes listed for sale in Palm Desert. This inventory level indicates the variety of options available to potential buyers. It also reflects the competitive nature of the market, as a higher number of listings increases the choices for buyers but also requires sellers to ensure their properties stand out through pricing, presentation, and marketing efforts.
•NEW LISTINGS:
The introduction of 164 new listings to the market as of January 31, 2024, demonstrates the dynamic nature of the Palm Desert real estate market. Regular influxes of new listings help to replenish the inventory, ensuring that buyers have access to fresh options and that the market remains vibrant and active.
•MEDIAN SALE TO LIST RATIO:
The median sale to list ratio was recorded at 0.980 as of December 31, 2023. This ratio is a critical indicator of the market’s temperature, showing that, on average, homes sold for slightly less than their listing price. A ratio below 1.0 suggests that buyers may have some negotiating power, and sellers might need to be flexible with their pricing expectations.
•MEDIAN SALE PRICE VS. MEDIAN LIST PRICE:
The median sale price of homes in Palm Desert was $539,667 as of December 31, 2023, while the median list price was higher at $636,300 as of January 31, 2024. The gap between these two figures highlights the importance of strategic pricing. Sellers are encouraged to set realistic prices to attract serious buyers, while buyers should be aware of the potential to negotiate prices down from the initial listing.
•SALES OVER AND UNDER LIST PRICE:
The market dynamics also reveal that 13.1% of sales were above the list price, indicating a segment of properties that attracted significant interest, potentially due to unique features, desirable locations, or competitive pricing. Conversely, 71.8% of sales concluded below the list price, offering insights into the prevalent negotiation trends and suggesting that many buyers are successfully negotiating prices downwards.
MARKET TRENDS AND PREDICTIONS
The Palm Desert real estate market is characterized by its resilience and adaptability. The slight downturn in home values and the balanced days on market indicate a market that is adjusting to both external economic factors and the specific demands of the local area. The disparity between the median sale price and the median list price highlights a market where pricing strategies and market knowledge are key to successful transactions.
Looking ahead, experts anticipate a stabilization in the market as it adjusts to the current economic landscape. The inventory levels suggest that while buyers have options, the market remains competitive, especially for homes priced strategically or offering unique value. The percentage of sales above the list price, though modest, signals continued interest in premium properties.
For potential buyers, the market presents
opportunities to negotiate favorable deals, especially for properties that have lingered on the market. Sellers, on the other hand, will find that realistic pricing and understanding market dynamics are crucial to attracting serious offers.
CONCLUSION
The real estate market in Palm Desert, California, is a testament to the ever-changing nature of property dynamics. With the average home value experiencing a slight dip and the market showing signs of balance, both buyers and sellers must approach their transactions with informed strategies and an understanding of the local trends. For buyers, the current climate offers a unique opportunity to find value in a market adjusting to broader economic pressures. Sellers, meanwhile, are reminded of the importance of pricing in line with market realities to attract genuine interest. As we move forward, staying abreast of the latest market updates will be vital for anyone looking to make their mark in the Palm Desert real estate scene. Whether you’re planning to buy your dream home or sell a cherished property, knowledge remains your most valuable asset in navigating the complexities of the market. In the ever-shifting sands of Palm Desert’s real estate landscape, being well-informed is not just an advantage—it’s a necessity.
If you’re looking to make a move in the Palm Desert real estate market, I invite you to work with me, Brandy Nelson, an agent with Windermere Homes & Estates. With my deep understanding of the local market trends, extensive experience, and commitment to providing exceptional service, I am here to assist you every step of the way. Whether you’re a first-time homebuyer, a seasoned investor, or considering selling your property, I will tailor my approach to meet your specific needs. Don’t miss out on the opportunities that the Palm Desert real estate market has to offer
Contact me at (760) 592-1571 to schedule a consultation and let’s embark on a successful real estate journey together. Trust in my expertise and let me help you achieve your real estate goals in Palm Desert, CA.
Palm Springs Oasis: Tailored Neighborhood Guides for Families, Retirees, and Investors
Nestled within the vibrant landscape of the Coachella Valley, Palm Springs stands as a beacon of leisure, luxury, and laid-back living. This sun-drenched desert paradise, with its picturesque scenery, historic charm, and modern amenities, attracts a diverse array of people looking to call it home. Whether you’re a family seeking a nurturing community for your children, a retiree in pursuit of a serene sanctuary, or an investor on the hunt for lucrative opportunities, Palm Springs offers a neighborhood tailored to meet your unique needs and desires. In this comprehensive guide, we delve into the heart of Palm Springs, unveiling
the most suitable neighborhoods for families, retirees, and investors, ensuring you find your perfect oasis in the desert.
FOR FAMILIES: BUILDING FOUNDATIONS IN IDYLLIC SETTINGS
1.THE MESA
The Mesa, a neighborhood celebrated for its eclectic mix of architectural styles and tight-knit community, emerges as a premier choice for families setting down roots. The area is renowned for its safety, offering peace of mind to parents
and a secure environment for children to play and explore. Its proximity to top-rated schools makes it an educational haven, ensuring your children receive a quality education without straying far from home. The Mesa’s unique blend of historical charm and modern luxury, coupled with its breathtaking natural surroundings, provides a picturesque backdrop for family life.
2.SUNRISE
PARK
For families yearning for the quintessential suburban experience with a Palm Springs twist, Sunrise Park is the destination of choice. This neighborhood boasts spacious homes with ample yard space, perfect for outdoor activities and gatherings. The community-oriented atmosphere is palpable, with numerous parks and recreational facilities fostering a sense of belonging and an active lifestyle. Furthermore, Sunrise Park’s central location offers unparalleled access to cultural events, entertainment, and shopping, enriching the family experience with a splash of urban convenience.
FOR RETIREES: SERENITY AND LEISURE IN THE GOLDEN YEARS
1.TWIN PALMS
Twin Palms, a neighborhood synonymous with tranquility and elegance, stands out as an idyllic retreat for retirees. Characterized by its iconic mid-century modern homes and meticulously landscaped streets, it offers a visually stunning environment to relax and rejuvenate. The lowdensity living and quiet ambiance provide the perfect setting for peaceful retirement years, while the community’s active social scene ensures there’s always something to do or someone to meet. Twin Palms is not just a place to live; it’s a lifestyle, promising a blend of leisure and luxury for those golden years.
2.DEEPWELL ESTATES
Deepwell Estates, with its rich history and prestigious reputation, is another haven for retirees seeking comfort and class. The neighborhood prides itself on its spacious, wellappointed homes, offering privacy and comfort
for those looking to enjoy their retirement in style. The area’s flat terrain and scenic beauty make it ideal for leisurely walks or bike rides, while its proximity to downtown Palm Springs ensures easy access to gourmet dining, shopping, and cultural venues. Deepwell Estates embodies the essence of sophisticated desert living, making it a perfect choice for retirees.
FOR INVESTORS: A GATEWAY TO PROSPERITY
1.DEMUTH
PARK
For investors eyeing the Palm Springs real estate market, Demuth Park offers an enticing blend of affordability and potential. This up-andcoming neighborhood is witnessing significant interest due to its more accessible price points and the city’s overall growth. Its strategic location near major transportation hubs and amenities enhances its appeal, promising strong rental demand and appreciation prospects. Investing in Demuth Park represents a smart entry point into the Palm Springs market, with the promise of robust returns as the area continues to develop.
2.RACQUET CLUB ESTATES
Racquet Club Estates is a magnet for investors looking to capitalize on Palm Springs’ flourishing vacation rental market. The neighborhood’s iconic mid-century modern homes, coupled with its history as a playground for Hollywood’s elite, offer a unique selling proposition. Its popularity among tourists seeking authentic Palm Springs experiences translates to high occupancy rates and attractive rental yields. By investing in Racquet Club Estates, investors tap into a lucrative segment of the market, bolstered by the neighborhood’s enduring charm and appeal.
CONCLUSION: YOUR PALM SPRINGS JOURNEY BEGINS
Palm Springs is more than just a destination; it’s a lifestyle, a community, and a dream for many. Whether you’re a family in search of a nurturing environment, a retiree looking for peace and luxury, or an investor aiming for growth, Palm Springs has a neighborhood that caters to your aspirations. By exploring these tailored neighborhood guides, you embark on a journey toward finding your oasis in the desert. Palm Springs awaits, ready to welcome you home with open arms and endless sunshine. Let the journey begin, and may your Palm Springs adventure unfold in the neighborhood that feels like it was made just for you.
Watch & Listen on
Brandy Nelson Real Estate show
The Brandy Nelson Real Estate Show - part 1
REO market with Brandy Nelson on “The Brandy Nelson Real Estate Show.” Embark on a journey through Southern California, delving into topics ranging from foreclosures to equity. Experience the essence of Palm Springs vibes as we navigate the nuanced world of real estate.
The Brandy Nelson Real Estate Show - Episode 2
Join Brandy Nelson in unraveling the mysteries of today’s REO market and understanding its stark differences from the 2008 crisis. Brandy Nelson explores the changes, challenges, and the hidden opportunities within foreclosures. Learn why deals still exist despite a dip in inventory and shifting dynamics. Gain insights into equity, market shifts, and invaluable real estate wisdom.
The Brandy Nelson Real Estate Show - Episode 3
Brandy discusses the concealed realm of pre-foreclosure properties, unveiling the significance of Notices of Default (NODs) and the untapped potential of equity. Whether you are a discerning consumer or a seasoned agent, acquire a profound understanding of the intricate timelines associated with short sales. Gain insights into the challenges posed by these transactions and comprehend why they are increasingly prevalent in today’s dynamic real estate market.
THE BRANDY NELSON REAL ESTATE SHOW
In this episode, Brandy Nelson showcases two stunning properties: a 0.59-acre lot at 53505 West Ridge Road and a .20 acre lot on Deer Foot Lane. Both locations offer breathtaking views and a perfect blend of snowy winters and cool summer breezes, just an hour from Palm Springs. These properties are ideal for investors, second home seekers, or those dreaming of a serene Idyllwild lifestyle.
THE BRANDY NELSON REAL ESTATE SHOW | REAL ESTATE changes are innevitable
In this episode of the Brandy Nelson Real Estate Show, host Brandy Nelson from Equity Union in Palm Springs, CA, explores the recent NAR settlements and their impact on the real estate market. Amid widespread media coverage and panic, Brandy highlights key changes, such as the MLS no longer displaying commission rates and the introduction of mandatory buyerbroker agreements. Discover strategies for agents to adapt, stay resilient, and seize opportunities during this transitional period.
PRESS RELEASE
EMPLOYMENT GROWTH SLOWS AS LABOR MARKET NORMALIZES AFTER HOT Q1
May 3, 2024
Key Takeaways:
The Federal Open Market Committee (FOMC) held the federal funds rate at its current target range of 5.25-5.5 percent at its April 30-May 1 meeting. The committee announced that beginning in June, the Fed will slow the pace of decline of its securities holdings by reducing the cap on Treasury securities from $60 billion to $25 billion. The MBS cap of $35 billion was unchanged, though the actual runoff has been closer to $15 billion per month. Both the prepared statement and Chair Powell noted a “lack of further progress” toward the 2-percent inflation objective in the first quarter.
Nonfarm payroll employment increased by 175,000 in April, a slowdown from the upwardly revised 315,000 jobs added in March. Job gains were strongest in health care, social assistance, and transportation and warehousing. The unemployment rate ticked up one-tenth to 3.9 percent. Wage growth looks to have normalized, with a 0.2 percent gain over the month, bringing the year-over-year comparison to 3.9 percent.
The Job Openings and Labor Turnover Survey (JOLTS) declined by 325,000 to 8.5 million in March, the lowest level in three years but still above the 2019 average of 7.5 million, according to the Bureau of Labor Statistics (BLS). The quits rate declined one-tenth to 2.1 percent, the lowest level since January 2018, excluding the initial 1pandemic shock. Layoffs and discharges eased to 1.5 million after hitting 1.7 million the month prior.
Nonfarm business productivity increased at a 0.3 percent annualized rate in Q1 2024, a sharp slowdown from the 3.5 percent annualized growth rate the quarter prior, according to the BLS. Still, compared to a year ago, productivity was up 2.9 percent, the best year-over-year comparison since in three years. Unit labor costs rose at an annualized rate of 4.7 percent but, compared to a year ago, slowed to just a 1.8 percent gain.
The Employment Cost Index (ECI), a measure of labor compensation, increased 1.2 percent in Q1 2024, an acceleration of three-tenths compared to the prior quarter. Compared to a year ago, the ECI was up 4.2 percent, unchanged from the fourth quarter.
The Institute for Supply Management (ISM) Manufacturing Index slipped back into contractionary territory with a 1.1-point decline to 49.2 in April. Both the new orders and production indices were down, falling 2.3 points to 49.1 and 3.3 points to 51.3, respectively. The not-seasonally adjusted prices paid index rose 5.1 points to 60.9, its highest level since June 2022, likely reflecting higher oil prices.
