October 2022 - Luxury Market Report for Sacramento County

Movember 2022 - El Dorado Hills Fire Fighters Association

Movember is the leading charity changing the face of men’s health. Since 2003, Movember has funded more than 1,250 men’s health projects around the world, challenging the status quo, shaking up men’s health research and transforming the way health services reach and support men. Their focus is on prostate cancer, testicular cancer, mental health, and suicide prevention. By 2030, they aim to reduce the number of men dying prematurely by 25%.

Each year, our local EDH firefighters grow mustaches and host a golf tournament in support of Movember. This year, we sponsored hole 5 on the Cameron Park Country Club Golf Course. It was a wonderful event and we look forward to being involved again next year.

View Last Years Photos >>

October 2022 - Luxury Market Report for Lake Tahoe, California

Another Mega Interest Rate Hike is Coming—What this Means for Your Finances

Americans should prepare their finances for even higher interest rates this year as the Federal Reserve continues its fight against inflation.
Although the Fed has increased its benchmark short-term fed funds rate by 3% this year, with the last three rate hikes at a whopping 75 basis points each, consumer inflation continues to linger near a 40-year high.
It also is expected to telegraph more rate hikes to come as it focuses on combating inflation, so consumers should expect their costs to head even higher and job losses to mount as economic growth slows.
Although the Fed doesn’t directly control consumer interest rates, its rate increases ripple through the economy and ultimately, hit businesses and consumers and slow demand and inflation.
“Given the environment of rising rates and a slowing economy, the financial steps for households to take are boosting emergency savings, paying down high-cost debt, and maintaining contributions into, and a long-term perspective on, retirement accounts,” Greg McBride, Bankrate chief financial analyst, said.
How high will interest rates go?
The Fed's expected to raise rates Wednesday by 75 basis points, which would mark the fourth consecutive increase of that size.
And likely that won't be the end. The Fed's year-end median fed funds forecast is 4.4% and 4.6% next year before heading lower, according to its economic projections. That means there’s likely another rate increase coming at the Fed meeting in December.
Economists generally expect the Fed to slow its rate hikes in December with a half-point rise to get inflation closer to its 2% target, but another 0.75% hike isn’t out of the question. Deutsche Bank analysts, for now, expect a fifth consecutive supersized 0.75% rate increase in December.
In September, overall annual inflation dipped to an 8.2% pace from August's 8.3%, but the core rate without the volatile food and energy sectors rose 6.6%, from 6.3% the prior month and the largest increase since August 1982. Both topped economists' mean forecast and unleashed worries that inflation's getting entrenched in areas that'll be harder to control if the Fed doesn't act faster.
How does this affect my plans to buy a house?
Homeowners with existing fixed-rate mortgages won’t see any changes. But recent and prospective homebuyers are being socked by higher rates that take into account projected Fed increases through 2022.
"The speed at which mortgage rates have risen is more destabilizing than the actual level of rates,” Yelena Maleyev, KPMG economist, said. “We have seen mortgage rates higher than 7% before, but we never have seen rates double in a matter of months. “
The average rate for a 30-year fixed-rate mortgage in the week ended Oct. 21 was 7.16%, the highest rate since 2001, according to Mortgage Bankers Association (MBA).
That's dampened borrower demand for both mortgage purchases and refinances. For the week ending Oct. 21, mortgage applications fell 1.7% to the slowest pace since 1997, MBA said. Refinance applications were essentially unchanged, but purchase applications declined 2% to the slowest pace since 2015 and more than 40% behind last year’s clip, it said.

3079 Madrid Drive, El Dorado Hills, CA 95762

Stunning single story home located in Heritage, a gated, 55+ active adult community in El Dorado Hills. This energy efficient Solar home was built by Lennar and completed just a few months ago . With 1,230 square feet, this Ruby model projects warmth and sophistication with a comfortable, flowing floor plan. The gourmet kitchen features stainless appliances, dual ovens, subway tile, granite counters and an island with a farmhouse sink that overlooks the great room. The master suite is tucked away in the rear of the home and presents a spa-like bathroom with dual sinks, shower stall, and a spacious walk-in closet. The secluded guest bedroom is situated in the front of the home, near a full bathroom with shower. Down the hallway is the laundry area, storage closet, and two car garage. Enjoy the spectacular views of the foothills from the covered patio in the low maintenance backyard. A walking trail is located behind the home, and "The Resort" clubhouse pool is conveniently located next-door.

Community amenities include a 5,000-square foot fitness center called "The Retreat" and a 10,000-square foot social clubhouse called "The Resort." These residents-only clubhouses feature both indoor and outdoor pools, spas, billiards room, activity rooms, pub, theatre room, fitness facility with locker rooms, walking trails, Bocce ball, tennis and pickle-ball courts. Residents enjoy the community events that take place throughout the year including outdoor concerts on the green, coffee socials, health fairs, classic car shows, game nights and more!

Listed at $598,000

Economic Outlook for 2023

The International Monetary Fund predicts global growth will slow to 2.7% next year, 0.2 percentage points lower than its July forecast, and anticipates 2023 will feel like a recession for millions around the world.

Aside from the global financial crisis and the peak of the Covid-19 pandemic, this is "the weakest growth profile since 2001," the IMF said in its World Economic Outlook published Tuesday. Its GDP estimate for this year remained steady at 3.2%, which was down from the 6% seen in 2021.

"The worst is yet to come, and for many people 2023 will feel like a recession," the report said, echoing warnings from the United Nations, the World Bank and many global CEOs.

More than a third of the global economy will see two consecutive quarters of negative growth, while the three largest economies — the United States, the European Union and China — will continue to slow, the report said.