All posts by Team Kriege

Hot Property for September 2024

Check out this Hot Property in Mesa, AZ!

5048 S Dante, Mesa, AZ 85212

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Hot Property – “Coming Soon” – Leisure World

Check out this Hot Property in Seal Beach, CA!

1881 Mckinney Way #28E, Seal Beach CA 90740

Updated 2 Bedroom, 1 Bathroom Atrium floor plan home, nestled in the highly sought-after Leisure World® Seal Beach community. This immaculate home boasts new flooring, and fresh paint creating a warm and inviting atmosphere. The bright atrium, featuring a large skylight and double doors to the second bedroom, adds valuable extra living space and floods the home with natural light. The primary bedroom offers a double wardrobe closet for ample storage, while the entire home is enhanced by newly installed luxury vinyl plank (LVP) flooring. Additionally, the home features plantation shutters in key areas, ensuring style and energy efficiency. Step outside to enjoy all the exceptional amenities Leisure World® Seal Beach has to offer, including pickleball, a pool, spa, barbecue, outdoor cooking area, golf, paddle tennis, bocce ball court, sport court, gym, clubhouse, billiard room, card room, banquet facilities, meeting room, and more.  This home is brought Courtesy of Patricia Gur, Realtor in the Sacramento area. 

If you would like to know more about this Hot Property contact me. Our Relocation Services are superb!

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Hot Property for July 2024

Check out this Hot Property in Katy, TX!

Welcome home to your meticulously maintained, 2019 build ”Juniper Ridge” Plan in highly sought-after Cane Island! 4 Bed/3.5 Bath/2 Car Garage, with large game room up that doubles as a 5th bedroom. Primary suite, formal Dining Room and Study down. Island Kitchen with Exotic Granite Countertops, 42” Raised Panel Cabinets w/Crown Molding & farmhouse sink. Complete with breakfast Bar & Butler’s Pantry! Corner Fireplace with Cast Stone Surround in Family Room. Dual Sinks, Separate Shower & Tub, Large Walk-in Closet in Primary Bath. Granite Countertops in Full Baths, Framed Mirrors and Upgraded herringbone Tile in Baths. Elegant and Extensive Hardwood Flooring, 2” Faux Wood Blinds, and high ceilings throughout! Long Covered Rear Patio with Gas Stub, ready for your grill! Energy Efficient 16 SEER HVAC System & so much MORE! This home is a Wi-Fi CERTIFIED smart home featuring integrated automation and voice control with Amazon Alexa. Will not last, 

Are you interested in this property? If so, call or email to receive a full property report filled with helpful information.

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2024 07 22 MBS HIGHWAY NEWSLETTER

MBS Road Signs 7-22-24

Week of July 15, 2024 in Review

Home builder sentiment remains below a key threshold while there was an important caveat to the rise in construction projects last month. Plus, more signs are signaling a slowdown in economic activity. Read on for these stories and more:

  • Home Builder Sentiment Held Down by Higher Rates
  • Construction Activity Boosted by Multi-family Projects
  • Retail Sales Remain Flat
  • Initial Jobless Claims Hit 5-Week High
  • Latest LEI and Beige Book Suggest Slowing Economic Activity

Home Builder Sentiment Held Down by Higher Rates

 

Confidence among home builders remains below the key breakeven threshold of 50, per the National Association of Home Builders (NAHB), as their Housing Market Index dropped 1 point to 42 in July. This marked the third consecutive monthly decline and the lowest reading since December as higher rates continue to dampen sentiment. Scores over 50 on this index, which runs from 0 to 100, indicate that most builders feel confident about the current and near-term housing market outlook, whereas lower readings signify there’s less optimism among builders.

What’s the bottom line? Though all three index components (buyer traffic, current and future sales expectations) remained below 50, NAHB Chair, Carl Harris, noted that “the six-month sales expectation for builders moved higher, indicating that builders expect mortgage rates to edge lower later this year as inflation data are showing signs of easing.”

Construction Activity Boosted by Multi-family Projects

After a disappointing May, new home construction ticked higher in June as Housing Starts and Building Permits both came in above estimates. However, the increase was led by a boost in multi-family projects, as starts and permits for single-family homes both moved lower.

What’s the bottom line? Softer than expected construction activity this spring could limit much needed supply down the road, especially among single-family homes. This bodes well for appreciation and shows that opportunities remain to build wealth through homeownership.

Retail Sales Remain Flat

Retail Sales stayed flat in June, though this was better than the outright decline that had been expected. Sales in May were also revised upward from the originally reported 0.1% gain to a 0.3% gain when compared to April. 

 

What’s the bottom line? While this report was better than estimates, there has been growing evidence that consumers are spending more cautiously in the face of rising unemployment and a slowing labor market. The Fed will be closely watching future Retail Sales reports, as the strength of our economy will impact their monetary policy decisions this year.

 

Initial Jobless Claims Hit 5-Week High

Another 243,000 people filed new unemployment claims in the latest week, marking an increase of 20,000 from the previous week and tying the highest level since early June. Continuing Claims also rose by 20,000, as 1.867 million people are still receiving benefits after filing their initial claim.

What’s the bottom line? The pace of layoffs continues to move higher, as does the number of people who are already collecting benefits. Plus, this latest Initial Jobless Claims reading was an important real-time report because it includes the sample week that the Bureau of Labor Statistics will use in the modeling for their job growth estimates for July’s Jobs Report. While this is just one component, the high reading of 243,000 initial unemployment claims could point to weaker job growth when July’s report is released on August 2.

There have been growing calls for the Fed to cut their benchmark Fed Funds Rates at their meeting on September 18, given signs of cooling inflation, rising unemployment and a softening job market. Labor sector data released between now and then will play a pivotal role in this decision. 

Latest LEI and Beige Book Suggest Slowing Economic Activity

The Conference Board released their latest Leading Economic Index (LEI), which takes a broad look at the economy and tracks where it’s heading in the near term. June brought a 0.2% drop, which followed May’s upwardly revised 0.4% decline.

What’s the bottom line? “The US LEI continued to trend down in June, but the contraction was smaller than in the past three months,” explained Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators. The Conference Board predicts that “economic activity is likely to continue to lose momentum in the months ahead,” with cooling consumer spending pushing “GDP growth down to around 1% (annualized) in Q3 of this year.”

This correlates with the Fed’s latest Beige Book, which is a survey of economic conditions around the country. Five of the Fed’s 12 districts reported flat or declining economic growth, which was up from only two districts six weeks ago. 

 

Family Hack of the Week

National Peanut Butter and Chocolate Day is July 23. These Peanut Butter Bars courtesy of Allrecipes are a perfect way to enjoy this winning combination.

In a medium bowl, mix 2 cups graham cracker crumbs, 2 cups confectioner’s sugar, 1 cup butter and 1 cup peanut butter until well blended. Press evenly into the bottom of an ungreased 9×13-inch pan. In a microwave safe bowl, add 1 1/2 cups chocolate chips and 4 tablespoons peanut butter. Microwave on high, stirring every 15 seconds, until smooth. Spread mixture over crust.

Refrigerate for 1 hour before cutting into 12 squares.

What to Look for This Week

More housing reports are ahead, with June’s Existing and New Home Sales releasing on Tuesday and Wednesday, respectively. Look for the first reading on second quarter GDP and the latest Jobless Claims on Thursday, while Friday brings the most crucial report of the week via the Fed’s favored inflation measure, Personal Consumption Expenditures.

Technical Picture

Mortgage Bonds fell below an important support level at 100.914 on Friday. If they remain below this level, the next floor is their 25-day Moving Average. The 10-year tested an important ceiling at 4.25%, which held on Friday.  

Hot Property for July 2024

Check out this Hot Property in Gatlinburg, TN!

This is a beautifully crafted and well kept genuine log cabin used as a successful short term rental. Gas log fireplace, wood floors, cathedral ceilings, and marvelous views provide a charming experience for guests and owner. The mountain views are present at all times of the year, and the covered deck provides a serene experience to enjoy them. Use this as a family vacation home, a short term rental, or a great mix of both. Sleeps 6+ with pull out couch and 2 private bedrooms! Rents extremely well!

Are you interested in this property? If so, call or email to receive a full property report filled with helpful information.

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2024 06 18 MBS HIGHWAY NEWSLETTER

MBS Road Signs 6-17-24

Week of June 10, 2024 in Review

The Fed once again held rates steady, while tamer than expected consumer and wholesale inflation for May was a welcome sign. Unemployment claims also saw a big move higher. Here are last week’s highlights: 

  • Fed Holds Rates Steady, Indicates One Cut in 2024
  • Consumer Inflation Takes Important Steps Lower
  • Friendly Wholesale Inflation Numbers
  • Initial Jobless Claims Hit 10-Month High
  • Latest on Small Business Optimism

Fed Holds Rates Steady, Indicates One Cut in 2024

After eleven rate hikes since March 2022, the Fed once again left their benchmark Federal Funds Rate unchanged at a range of 5.25% to 5.5%. This decision was unanimous and marks the seventh straight meeting they held rates steady.

The Fed Funds Rate is the interest rate for overnight borrowing for banks and it is not the same as mortgage rates. The Fed has been aggressively hiking the Fed Funds Rate throughout this cycle to try to slow the economy and curb the runaway inflation that became rampant over the last few years.

What’s the bottom line? While inflation has cooled considerably after peaking in 2022, it remains above the Fed’s 2% target. Fed Chair Jerome Powell reiterated that the Fed does not expect to cut rates until members are confident that inflation is moving sustainably towards 2% as measured by annual Core Personal Consumption Expenditures (which is at 2.8% as of April).

The Fed’s “dot plot” of member forecasts signaled that just one rate cut is expected before the end of the year, down from three cuts forecasted in March, though these estimates can change quickly based on upcoming data. The Fed did acknowledge that they have seen “modest further progress” toward their 2% goal, reflecting some recent friendly inflation readings as noted below.

Consumer Inflation Takes Important Steps Lower

May’s Consumer Price Index (CPI) showed cooler than expected inflation, with the headline reading flat for the month while the annual reading declined from 3.4% to 3.3%. The Core measure, which strips out volatile food and energy prices, increased 0.2% and the annual reading declined from 3.6% to 3.4%.

All these measures were softer than estimates, as moderating motor vehicle insurance costs were a key reason for the friendly Core number.

What’s the bottom line? May’s data followed better than expected numbers in April. This is a welcome sign that inflationary pressures may continue to ease as we move further into the year, especially after readings in the first quarter of this year were unexpectedly high.

Friendly Wholesale Inflation Numbers

The Producer Price Index (PPI), which measures inflation on the wholesale level, was also below estimates last month. Headline PPI fell 0.2% in May, with the annual reading also moving lower from 2.3% to 2.2%. Core PPI, which strips out volatile food and energy prices, was flat in May and the year-over-year reading fell from 2.4% to 2.3%.

What’s the bottom line? The favorable CPI and PPI reports brought a double dose of positive inflation news last week. Plus, some of the PPI components are factored into another important consumer inflation measure called Personal Consumption Expenditures (PCE), which is the Fed’s favored measure, and this could lead to a friendly PCE report when that data is released on June 28.

Initial Jobless Claims Hit 10-Month High

Initial Jobless Claims rose by 13,000 in the latest week, with 242,000 people filing new unemployment claims. This was much higher than expectations of 225,000. There were also 1.82 million people still receiving benefits after filing their initial claim, as Continuing Claims jumped by 30,000. 

What’s the bottom line? Initial Jobless Claims have now risen for three straight weeks, with the latest reading the highest number of first-time filers since last August. Continuing Claims are also still trending near some of the hottest levels we’ve seen in recent years, suggesting that the pace of hiring has slowed.

The Fed will be closely watching for signs of a sustained rise in unemployment as they weigh monetary policy and the timing for rate cuts, given their dual mandate and price stability and maximum employment.

Latest on Small Business Optimism

The National Federation of Independent Business (NFIB) Small Business Optimism Index rose to 90.5 in May. While this is the highest reading of the year, it remains well below the historical average of 98.

What’s the bottom line? NFIB’s Chief Economist, Bill Dunkelberg, explained that “for 29 consecutive months, small business owners have expressed historically low optimism and their views about future business conditions are at the worst levels seen in 50 years.”

Given that 22% of owners reported that inflation was the single most important problem in operating their business, the cooler than expected inflation readings for May were a positive development.

Hot Property for June 2024

Check out this Hot Property in Tampa, FL!

Pride of ownership abounds in this Mid-Century Gem! Located in Lake Magdalene, this oversized corner lot features mature landscaping, Pool, circular driveway and no deed restrictions so park your boat or jetski and enjoy the DEEDED ACCESS TO LAKE MAGDALENE! On the inside is a tastefully renovated and well maintained 3 bed 2 bath home with multiple flex spaces and oversized covered patio. Double sided fireplace adds a unique eye catching feature. Brand new Septic Tank, lift station and drain field were installed as part of the current owners purchase in 2017. Well water with new whole home reverse osmosis water filtration/softener system. Oversized garage allows for room to park 2 cars while still having plenty of room for storage or workshop area.

Are you interested in this property? If so, call or email to receive a full property report filled with helpful information.

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Another Hot Property for May 2024

Check out this Hot Property in Tampa, FL!

Welcome to your home in the sought-after golf course community of Hunters Green, nestled in the heart of New Tampa. This charming, 4-bedroom, 2.5-bathroom residence on a quiet, tree-lined street has been updated to the point of truly being one of a kind, offering the perfect blend of elegance, comfort and character. Step inside and discover an open and airy entry and living area bathed in natural light. The renovated floor plan seamlessly connects the family room to the kitchen and dining area, creating an inviting space for family gatherings and socializing. The centerpiece of its many upgrades and the heart of this home is the gourmet kitchen, which boasts ample cabinets, a spacious center island, desk/workstation, elegant quartz countertops, glass tile backsplash, reverse osmosis water system, stainless steel double oven and induction cooktop. This is the perfect place to perfect your favorite recipe. Unwind in the primary suite, complete with dual walk-in closets and en suite bathroom with oversized tub and separate shower, providing a private sanctuary for relaxation. Each additional bedroom offers versatility and comfort. Step outside to your own private paradise, where a screened-in lanai and pool/spa with large, covered patio await. This serene oasis is perfect for entertaining guests or enjoying tranquil moments of relaxation at the end of a long day. Whether you’re enjoying a morning cup of coffee or hosting a barbecue, this outdoor space is sure to become your favorite spot to relax and entertain. The home’s exterior, freshly painted two years ago, radiates contemporary charm, complemented by the practical durability of a recently updated AC unit (2020) and roof (2022)ensuring both comfort and style. Additional modern conveniences and updates include a dedicated 240V outlet for EV charging, low voltage Ethernet wiring, window and door replacement including double pane windows and sliders, fresh attic insulation and full electrical panel replacement. Residents of Hunter’s Green enjoy peace of mind with 24/7 manned security gates and experience the ultimate Florida lifestyle with access to an array of amenities, including playgrounds, lighted tennis, pickleball, basketball, volleyball, soccer and baseball facilities, jogging trail with a 15-station exercise circuit, an off-leash dog park, designated bike lanes and scenic walking trails. All of this is surrounded by 43 lakes on 65 acres of protected wetlands and the exclusive Hunter’s Green Golf and Country Club with its Tom Fazio designed 18-hole golf course. Conveniently located near top-rated schools, shopping, dining, and major highways, this home will provide you with quintessential Florida living in one of Tampa Bay’s most beautiful communities. Don’t miss your chance to call this property home schedule your showing today!

Are you interested in this property? If so, call or email to receive a full property report filled with helpful information.

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Hot Properties for May 2024

Check out this Hot Property in Meridian, ID!

Welcome to prestigious Paramount subdivision! This stunning home features the highly sought-after Cambridge floorplan by Brighton Homes. Situated on a spacious corner lot, this residence boasts privacy and ample outdoor space, including a private backyard with a covered patio. Step inside to discover a wealth of luxurious upgrades, including granite countertops, hardwood floors, ample storage and surround sound speakers, creating an ambiance of elegance throughout. The split floorplan ensures privacy, with the master suite secluded from the secondary bedrooms. A den/office and formal dining room provide versatility for various lifestyle needs. With close proximity to shopping, restaurants, parks, walking paths, and bike paths. The large 3 car garage offers plenty of space for parking and storage. Don’t miss out on this amazing opportunity!

Are you interested in this property? If so, call or email to receive a full property report filled with helpful information.

Moving Out of State?

WE HELP THE BEST COMPANIES: Toyota, Microsoft, Costco, hP, Coca Cola, Cisco, The Home Depot, Walt Disney, FedEx, Sprint, Anthem and many more!

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