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Week of July 8th-14th
Property Tips and Tricks
![Coastal Outdoor Furniture](https://assets.thesparksite.com/uploads/sites/4226/2024/07/Coastal-Outdoor-Furniture.jpg)
Outdoor Furniture: Going Against the Grain
- Low maintenance
- Ability to withstand harsh elements
- Attractive appearance
- Regular maintenance
- Frequent cleaning
- Protective covering
- Constant vigilance
- Strong winds
- Frequent rain/heavy marine layer
- Corrosive salt air
- Requires periodic cleaning
- Needs regular oiling
- Prone to mold buildup and discoloration
- Made from recycled materials (eco-friendly)
- Highly durable and weather-resistant
- UV stabilizers prevent color fading
- Color distributed throughout, minimizing visible scratches or dings
- Pest-resistant (termites, rodents)
- Moisture-resistant
- Fire-resistant
- Relatively heavy, reducing wind displacement
- Requires little to no upkeep
- Cost: These materials tend to be more expensive than traditional outdoor furniture options.
- Heat Retention: Darker colors of Polywood and Poly Lumber can retain more heat when exposed to direct sunlight, making the furniture uncomfortable to touch or sit on without cushions.
- Weight: The heavy nature of these materials can be both a pro and a con. While the weight adds to their sturdiness and wind resistance, it also makes the furniture difficult to move. This can be a challenge if you frequently rearrange your outdoor space or need to store the furniture during certain seasons.
Real Estate News
![Pacific,Waves,Crash,On,The,Rocks,Of,Asilomar,On,17](https://assets.thesparksite.com/uploads/sites/4226/2024/07/Monterey-Peninsula.jpg)
Winds of Change
- 27% driven by owners' equivalent rent (OER)
OER, a concept some economists find controversial, is based on a quarterly survey of about 5,000 renters. It represents what homeowners would hypothetically pay to rent their own homes.
Some economists suggest alternative approaches:
Implications for Real Estate and Federal Policy
The housing component of CPI is expected to continue falling, as apartment rents only increased by 1.2% in the past 12 months. This decline in inflation could potentially lead to rate cuts sooner, rather than later.
- Allstate has requested a 34.1% average increase in homeowners insurance rates, potentially affecting over 350,000 policyholders.
- This follows State Farm's recent request for a 30% rate hike.
- If approved, Allstate's increase would be significantly larger than their previous rate adjustments over the past five years.
- Commercial real estate is experiencing far more challenges, and distress, than the residential sector.
- 96% of U.S. homeowners with mortgages have fixed rates, with nearly 80% of those below 5%.
- The percentage of mortgage-free homeowners has increased from 32.1% in 2010 to nearly 39% currently.
- These retirees and soon-to-be retirees often have substantial financial resources, injecting vitality into the local economy.
- Their strong purchasing power can drive up real estate prices, occasionally resulting in surprisingly high-value sales.
- While beneficial for sellers, this trend may create hurdles for other buyers in the market.
- San Francisco has witnessed a significant exodus, losing approximately 8% of its population over the past four years.
- In comparison, Monterey County has demonstrated remarkable resilience, with a modest population decline of just 1.7% – one of the smallest drops in the region.
- The exodus has not been substantial enough to alleviate the persistent housing shortages in many communities.
- A "boomerang" effect is emerging, with some pandemic-era movers now returning to the area.
- The burgeoning AI industry has breathed new life into San Francisco and its surrounding areas, potentially fueling a resurgence in the region.
Monterey County
![Monterey County Population Trends](https://assets.thesparksite.com/uploads/sites/4226/2024/07/Monterey-County-Population-Trends.png)
![Monterey County Population by Age Segment](https://assets.thesparksite.com/uploads/sites/4226/2024/07/Monterey-Coutny-Pupulation-by-Age-Segment.png)
San Francisco County
![San Francisco Population Change](https://assets.thesparksite.com/uploads/sites/4226/2024/07/SF-Population-Change.png)
![San Francisco age change](https://assets.thesparksite.com/uploads/sites/4226/2024/07/SF-age-change.png)
Worked with me in the past? Share your experience.
![Jonathan Balog Luxury Realtor Carmel Pebble Beach](https://assets.thesparksite.com/uploads/sites/4226/2023/11/FireShot-Capture-740-ags-photo-art-JTB-2023-136-1-600x900jpg-600900-wwwsimpleimageresizercom.jpg)
Jonathan Balog
DRE# 01980970
Broker
M: 831.747.0310
[email protected]
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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 is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.