Spring has arrived!
I hope everyone had a wonderful Easter and if you have children a nice Spring Break. I took my family to Nicaragua and had a great time and experience. As I have always told my family, taking time off and or going on a trip is not an expense, it’s an investment!
On the real estate front, inventory continues to be low and market times are fast. Of note, the condo sale at the Sanctuary marks one of the highest sales in years at $1,150,000. One thing to keep in mind is that this is the only condo with 3,649 sq. feet. The owner convinced the developer to create one unit out of two that were side by side – truly one of a kind. As of April 21st there are 6 homes and 2 condos available for sale. It will be interesting to see if the recent rise in interest rates will affect demand at all. Time will tell.
Activity for past 30 days is as follows:
Single Family Homes – 2 Sold and 5 Pending
Condos – 2 Sold and 2 Pending
Market Metrics – January 1, 2022 – April 20, 2022
Current rates courtesy of Liza Gibboney – Fairway Mortgage
NMLS# 243062 | Cell: 757-630-9604 | Office: 757-932-8497
Jumbo Non- Conforming Primary and Second Home 30 year fixed – 5.0 (this goes for second homes)
VA 30 Year Fixed – 4.875
Conventional 30 Year Fixed – 5.375
FHA 30 Year Fixed – 4.875
A true sign of spring is the opening of The Sugar Shack and the Baja Coffee Company opening on weekends beginning May 3rd. There is also a rumor that Jose Tequila’s located at The Sanctuary may be opening very soon. We had a very successful Easter Egg Hunt at Little Island last week. There were well over 100 children there to gather eggs on the beach and meet the Easter Bunny. See link for photos and video. (Credit: Angela Kirkland / Sandbridge Portraits)
See you on the beach!
Aloha,
Pat