Dewey Market Watch 12/10/21 thru 1/10/22

Happy New Years!!!! Life is good:) We had the pleasure of a winter coastal storm and received between 12″ to 14″ of snow. The brilliant uv rays and warm afternoon temps had it gone in a couple of days, just the way I like it! The daylight hours are increasing daily and spring is right around the corner. Market activity (1 month) has been minimal, partly due to the holidays and mostly due to minimal inventory. Interest rates have increased with the new year. The interest rate for a 30 year fixed has risen to 3.5% and a 30 year fixed jumbo loan is now 3.250%. Presently there’s only 2 single family homes available, four condos and four Surf Club units (fractional shares-1 week per month x 12). The rental inventory is also critically low or non excitant. I personally do not participate in rentals only sales but all four of our office’s do. Thinking of renting? You may be surprised at the rental incomes. Please call for a free quote. Think spring, stay healthy!!!