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"I have to say that dealing with

Veronica was truly a pleas-

ure. Not only was she incredibly

kind and patient, but she was

also amazingly detailed in taking

care of all aspects of my pur-

chase. I truly felt that she was

taking excellent care of me the

whole time. I cannot recom-

mend her enough. Thank you so

much Veronica."

Margie.D

In This Issue

• Buying in a Downturn.

• Biarritz….Europe’s

Surf Scene.

• Prioritizing You.

• National Association of

Realtors report.

• Pandemic What Can

We Believe?

Buying in a Downturn Paying your mortgage and riding out the downturn is a major consideration, and more important than finding a low-priced home. Considering the stability of your employment situation, you must first be completely realistic about your finances before getting carried away by the potential gain. Not every low-priced home you spot for sale will be a good deal. Some will be in a state of disrepair and may incur unforeseen costs, particularly if the home was foreclosed. You must be prepared for a lengthy closing when it comes to short sales and foreclosures, banks tend to move very slowly in these instances. It would be a good idea to inspect with an experienced contractor. You should never neglect a title search, there may be some surprises were previous owners owed money and have liens against the home. On the positive side, mortgage rates are usually better during a downturn, and most home sellers are ready to negotiate. However, it is important to be con-siderate to sellers in a downturn, being pushy and insensitive will not score you any points and may lose you the deal. Speaking to an experienced realtor who knows the area and history would also be of great benefit, when considering the potential gain.

First things to consider when buying in a downturn. • Can I take on the extra costs at this time?

• Have I considered the work it may entail?

• Do I have a diligent Realtor who knows the history?

Buying in a Downturn - Good deals for the prudent investor.

PROJECT PEGASUS INC - GLOBAL BOUTIQUE REALTY Newsletter Feb/ Mar 2020 Issue

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Biarritz…..Europe’s Surf Scene. Biarritz is an elegant seaside town on southwestern France’s Basque coast, it has been a popular resort since European royalty began visiting in the 1800s. This former fishing village began its transformation into an elegant seaside resort over a century and a half ago, after the arrival of Empress Eugénie and her husband, Napoleon III. Biarritz sits about 15 miles up the Atlantic coast from the border with Spain, hit a peak in the 1950s when California surf culture was introduced to Eu-rope on its sandy beaches. Still known for its surfing culture, but if that is not your scene, enjoy the sights and relaxation of this picturesque seaside town, with its many seaside cafes, and beautiful stretch of coast. Biarritz has 6 km of beaches (“plages” in French) its beaches are characterized by fine sand and large amounts of seaweed. The seaweed adds iodine to the water which is known to have bene-ficial effects on the body. These healthy properties of the water are the reason for the popularity of thalassotherapy (the medical use of sea water as a form of thera-py) resorts in Biarritz. Take a leisurely waterfront walk to admire the town from its most attractive angles. Begin at the Rocher de la Vierge, a statue-crowned rock jutting from the turbulent sea that is reached from the mainland via a narrow iron bridge. Then follow the seaside path north atop wind-whipped cliffs, past rainbows of blooming hydran-geas, and along the promenade past the seaside Casino and the Grand Plage’s wide crescent of sand. Continue to the Phare de Biarritz, the white lighthouse on the town’s northernmost bluff, for views of the golden sands of Plage Miramar and the Hôtel du Palais, the city’s landmark luxury resort and former royal residence. Take in the Old Port area, where the action revolves around live music, from rock bands to acoustic guitar performances. The range of food is extensive, but you cannot go past the creative tapas and classic French pastries. To sample some culinary influences, head to the small bars and cafes clustered around the market hall ‘Les Halles’. Start on the main plaza at ‘Les Contrebandiers’ a cool wine bar that serves pots of rich country pâté with chewy baguettes, and boards of hand-sliced jamón (cured ham), from Lekun-berri, a village across the Spanish border. Then move down the street to ‘Le Comptoir du Foie Gras’, a corner bar where crowds pack the sidewalk tables while nibbling on platters of pintxos made with rich slices of foie gras, spicy chorizo and crumbly ash-coated goat cheese.

Prioritizing You

Take the time to occasionally remember that your needs are important and if you don’t make them a priority, no one else will. Evaluate those things in life that are causing you stress and consider the value of those things. Are they important? Is the stress of your own creation and within your power to control and change? • Ensure that you have a stretch of

quiet alone time each day. It’s easy to get caught up in the action and noise of the day, but every-one needs a few moments to cen-ter and reset themselves. Take a moment to breathe and relax.

• Get rid of any guilt you might carry for occasionally treating yourself. You don’t have to justify enjoying something or indulging in some-thing that brings you happiness.

• Take time to do those things that make you feel better about your-self. Whether it’s an indulgent beauty routine or making sure that you exercise each day.

• Embrace your emotions if only so that you can let them go. Sup-pressing how you really feel about a situation only serves to under-mine your happiness.

• Remember that how others treat you is more often a reflection of who they are and not a reflection of who you are.

• Acknowledge and appreciate those people and things which are positive and uplifting in your life.

• Eat things that make you feel good. And I don’t mean eat things that make you lose weight per se; I mean eat things that make you feel good inside and out. Things that don’t weigh you down but that motivate and strengthen you.

• Remember that there are only three things in life you can control; what you think, what you say, and what you do.

Biarritz– France

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Mortgage Rates Settle Near Historical Lows

The 30-year fixed-rate mortgage averaged 3.33% this week, near its all-time low, Freddie Mac re-ports.

“Mortgage rates have stabilized over the last few weeks as the market searches for direction in the fog of economic data,” says Sam Khater, Freddie Mac’s chief economist. “While financial mar-kets initially rallied on the news of Federal Reserve support and are improving due to the Sen-ate’s passage of a new small business stimulus, we continue to see a deep economic contrac-tion amidst uncertainty about the recovery formation.”

Freddie Mac reports the follow-ing national averages with mort-gage rates for the week ending April 23:

• 30-year fixed-rate mortgag-es: averaged 3.33%, with an average 0.7 point, rising slightly from last week’s 3.31% average. Last year at this time, 30-year rates aver-aged 4.20%.

• 15-year fixed-rate mortgag-es: averaged 2.86%, with an average 0.7 point, up from last week’s 2.80% average. A year ago, 15-year rates averaged 3.64%.

• 5-year hybrid adjustable-rate mortgages: averaged 3.28%, with an average 0.3 point, dropping from last week’s 3.34% average. A year ago, 5-year ARMs averaged 3.77%.

Freddie Mac reports average commitment rates along with average fees and points to re-flect the total upfront costs of obtaining the mortgage Taken from Realtor Magazine

Sales Drop in March

National Association of Realtors WASHINGTON (April 21, 2020) – Existing-home sales fell in March following a February that saw significant nationwide gains, according to the National Asso-ciation of Realtors®. Each of the four major regions reported a dip in sales, with the West suffering the largest decrease. Total existing home sales, completed transactions that include single-family homes, town-homes, condominiums and co-ops, dropped 8.5% from February to a seasonally-adjusted annual rate of 5.27 million in March. Despite the decline, overall sales increased year-over-year for the ninth straight month, up 0.8% from a year ago (5.23 million in March 2019). “Unfortunately, we knew home sales would wane in March due to the coronavirus outbreak,” said Lawrence Yun, NAR’s chief economist. “More temporary interruptions to home sales should be expected in the next couple of months, though home prices will still likely rise.” While sales have declined, home prices are still solidly strong. The median existing-home price2 for all housing types in March was $280,600, up 8.0% from March 2019 ($259,700), as prices increased in every region. March’s national price increase marks 97 straight months of year-over-year gains. Total housing inventory3 at the end of March totalled 1.50 million units, up 2.7% from February, but down 10.2% from one year ago (1.67 million). Unsold inventory sits at a 3.4-month supply at the current sales pace, up from three months in February and down from the 3.8-month figure recorded in March 2019.

“Earlier in the year, we watched inventory gradually tick upward but with the current quarantine recommendations in place, fewer sellers are listing homes, which will limit buyer choices,” Yun said. “Significantly more listings are needed and more will come on to the market once the economy steadily reopens.” NAR’s most recent Flash Survey showed that 93% of sellers changed behavior to help the homebuying transaction move forward with social distancing and necessary precautions. Properties typically remained on the market for 29 days in March, seasonally down from 36 days in February, and down from 36 days in March 2019. Fifty-two percent of homes sold in March 2020 were on the market for less than a month. First-time buyers were responsible for 34% of sales in March, up from both 32% in February and 33% in March 2019. NAR’s 2019 Profile of Home Buyers and Sellers – released in late 20194 – re-vealed that the annual share of first-time buyers was 33%. "Despite the social distancing restrictions, with many Realtors® conducting virtual open home tours and with mortgage rates on the decline, a number of first-time buyers were still able to purchase housing last month," Yun said. Individual investors or second-home buyers, who account for many cash sales, purchased 13% of homes in March, down from both 17% in February and 18% in March 2019.

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Pandemic What Can We Believe? The conspiracy theories regarding the corona virus pandemic appear to be

spreading almost as fast as the virus itself, but what can we believe? Consid-

ering it is an election year in the US it would be prudent to take the sources

into account with many accounts simply distorting facts. There are also many

allegations that seem as realistic and as complicated as the plot from a Tom

Clancy novel. Can there be some truths in all these claims floating around?

The saying ‘truth is stranger than fiction’ may apply in part. With some evi-

dence from experts that the pandemic was more to do with covering up mis-

handling of research, it’s little wonder there is confusion and disbelief about all

we are being told.

It was reported earlier this month that the wet markets in Wuhan had indeed

re-opened, considering the numbers in China are still relatively unconfirmed

you may ask…. how can this be? U.S. media reported on April 1 that U.S.

officials believe China has concealed the extent of the coronavirus outbreak

in its country, with officials calling China's numbers "fake." Questions have

also been raised by Russia's relatively low numbers as well. In India New

Delhi has refused to expand coronavirus testing, despite criticism that limited

testing could leave COVID-19 cases undetected in the world's second-most

populous country. There is much controversy on a global scale as to how

governments and health authorities are responding to this pandemic, the first

of its kind in a social media and internet connected world. One thing is cer-

tain, we will feel the effects of this situation for some time to come. The far-

reaching results will impact economies, industries, and even social behaviour.

https://www.bbc.com/future/article/20200325-covid-19-the-history-of-pandemics

https://www.jpmorgan.com/global/research/fallout-from-covid19

2020 - Year of Pandemic ProjectPegasusInternational.com

Info@ProjectPegasusInternational.com

1 (561) 308-5982