Market Update

January 8, 2019

What you need to KNOW!

#LeonardSteinberg

DID YOU KNOW? Mortgage rates have fallen to around their lowest levels in 8 months. The average rate for a 30-year fixed mortgage fell to 4.51%, matching the lowest level since last spring, according to Freddie Mac. That rate is still higher than its level of 3.95% from a year ago but has fallen from a more-than-7-year high of nearly 5% in October.

DID YOU KNOW? At the end of 2018, the 19 Rudin Management (an early investor in Compass) properties using high-tech systems monitoring and controls together achieved a 44% reduction in emissions, more than half of the 80%-by-year-2050-goal established under the New York City Carbon Challenge. (FORBES)

DID YOU KNOW?  Amazon has overtaken Microsoft and Apple to become the world's most valuable company.

DID YOU KNOW? Global high-net-worth individual ($1m+ investable assets) wealth rose 10.6% in 2017 to surpass $70 trillion, and may top $100 trillion by 2025 (Capgemini, World Wealth Report 2018).  Cultural tides are turning, as seen most visibly in Paris. Where wealth used to be something the affluent wear proudly, today the wealthy are retreating into their cocoons, living behind walls and going increasingly inconspicuous. As the rich get richer, everybody else has fallen behind. Income inequality is resulting in resentment growing among hoi polloi and rising anxiety among the wealthy. The wealthy may become less conspicuous, retreat from danger in the public square and act to secure their holdings. Privacy is becoming an enormous focus and the wealthy have the means to achieve it, making it harder for luxury brands (and real estate agents) to connect with them. (LUXURY DAILY)

JOURNEY OF JOY

If the vast majority of your time is spent working to achieve your goals or delivering those 'end results', you should probably focus MUCH more of your efforts to make the process of getting there more enjoyable and less stressful.

Here are some thoughts on how you may achieve this:

1.  Accept that we live in an instant-gratification world with decreasing patience. Your surroundings influence the way you think. Separate yourself from these unrealistic pressures.

2.  Let go of the expectations. Yes, set goals and know you have to achieve certain things to get ahead, but focus less on the finish line and more on how you will get there, the process, the action steps, the day-to-day, moment-by-moment tasks.

3.  Try to think of the process the way you would a vacation:  the best part of a vacation is not the trip back home. It's the daily moments and experiences that matter.

4.  Embrace the moment: every moment of the day is part of the process to get to where you want to be. Be mindful of the moment. Savor the moment. Savor the work.

5.  Celebrate work. The activity of doing. Doing the work is what gets you to where you want to be. Focus on making that work enjoyable and rewarding. Let the work itself be the enjoyment, not just what it produces.

6.  Let go of the fear of failure: whether you succeed or fail focuses exclusively on the end result. Chances are you will be much more successful if you focus on the quality of the process.

Focus on the quality of your efforts. Focus on excellence and enjoyment. The results are almost certain to follow. The results will then become secondary to the process - and deliver equal reward, possibly more.

Remember, life is a fast moving train; we live, we love, we work, we die. Your in-between better be good. What's your in-between? Let me know: agismith@comcast.net

 

Tags:mortgage ratesluxuryreal estatehigh end real estatenapanapa valleywine country

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