Santa Monica Monthly – June 2024

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Mortgage Rates Curtail Home Sales, Yet Prices Surge

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Existing-home sales fell last month as mortgage rates eclipsed 7% and home prices continued to rise. But some market segments are showing resilience: High-end home sales—listings at $1 million and above—posted significant gains in April, increasing 40% compared to a year ago, according to the National Association of REALTORS® latest housing report. The share of first-time home buyers also is rising.

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Still, higher mortgage rates are likely the prime culprit for causing a slower spring market. NAR’s existing-home sales index, which reflects completed transactions for single-family homes, townhomes, condos and co-ops, shows sales fell nearly 2% in April compared to March and are down by about 2% from a year ago. All four major regions of the U.S. saw a decline in home sales last month.

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“Home sales changed little overall, but the upper-end market is experiencing a sizable gain due to more supply coming onto the market,” says NAR Chief Economist Lawrence Yun. The market for homes priced at $1 million or more saw listings jump 34% in April compared to a year ago, and buyers responded to the greater housing choices.

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Read more... nar.realtor

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SAVE THE DATE! JUNE 15TH, 11AM - 2PM

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The Regina Vannicola Real Estate Group & Melanie Sommers Team is excited to announce our 2nd Annual Big Gay Bake Sale in support of Pride Month.

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If you are interested in participating in the event or donating to the Los Angeles LGBT Center please contact info@reginavannicola.com for more information. We look forward to seeing you on June 15th!

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Food Obsession of the Month

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Cookie Dough Keto Fat Bombs

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Fat bombs alone make us want to go on the Keto diet, but we'll take any excuse to eat cookie dough. These are perfect to keep stored in the freezer for whenever the craving hits!

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Source: delish.com

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Ingredients

• 1/2 c. - (1 stick) Butter, softened
• 1/3 c. - Keto friendly confectioners sugar (such as Swerve)
• 1/2 tsp. - Pure Vanilla Extract
• 1/2 tsp. - Kosher Salt
• 2 c. - Almond Flour
• 2/3 c. - Keto friendly dark chocolate chips (such as Lily's)

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Instructions

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1. In a large bowl using a hand mixer, beat butter until light and fluffy. Add sugar, vanilla and salt and beat until combined.
2. Slowly beat in almond flour until no dry spots remain, then fold in chocolate chips. Cover bowl with plastic wrap and place in refrigerator to firm slightly, 15 to 20 minutes.
3. Using a small cookie scoop, scoop dough into small balls. Store in the refrigerator if planning to eat within the week, or in the freezer for up to 1 month.

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Lifestyle Tips & Tricks

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9 Locations where Housing Prices are Skyrocketing Post-Pandemic

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It’s no secret that real estate prices have increased substantially in the past few years, with the pandemic era of the early 2020s seeing massive spikes in home prices nationwide.

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Courtesy of Yahoo!

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Design Choices Sellers Might Want to Rethink

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Social media causes a lot of hype, but trends change frequently and could hurt resales. Sellers are wise to play it safe with timeless simplicity.

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Courtesy of NAR

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6 Spring 2024 Tips for Home Buyers and Sellers

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The housing market is in a strange place this spring...

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Courtesy of Forbes

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21 Plants to Add Instant Curb Appeal

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Before you plant that "For Sale" sign in your yard, plant shrubs and flowers. to boost your curb appeal!

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Courtesy of HGTV