Distressed Properties

7/6/22 Webinar Replay "The 6 things you need to know about this Market... to get listings"The housing affordability crunch is here — with mortgage rates continuing to rise at the same time that housing prices do. What do you need to know to get LISTINGS this summer!

"Why are agents fighting for the scraps in the market?"Lee Honish | Fred Solomon | Derek Kellyhttps://homeadvocates.io/events/

MARKETING IN BAD WEATHER & LOCKDOWN?!?REAL ESTATE DEALINGS VIRAL MARKETING:9AM PST Wednesday 12/15/21As Covid-Omicron increases mask mandates and lockdowns, agents and investors should learn to do marketing from the safety and ease of their home office desk.What you will learn:1. How to get leads and listings from your home office2. How to create weekly content to build TRUST for listings/deals3. How to put content into the complex algorithms of Facebook and YouTube to create a large following in your market4. How to use media trends to create content5. Step by step of R.E.D. to create your content for F R E E6. Q&A with Lee Honish7. F R E E Marketing pieces and downloadsREGISTER NOW FOR F R E E https://us02web.zoom.us/webinar/register/WN_Csggbq10SCStnob3E3TccQ

11/24/21 HAYWIRE: How to get listings Step-by-stephttp://homeadvocates.io/event/

The Market Crash Has Already Started | Lee Honish | Home Advocates

www.HomeAdvocates.io 833-969-4673Zillow stops buying & why that is a bad thing for you in real estate

http://homeadvocates.io/event/Common Homeowner Scams | Default Listings | Lee Honish

http://homeadvocates.io/event/833-969-467320 Things wrong with the real estate market | Distressed Housing Market | Lee Honish

http://homeadvocates.io/event/ links & tools & downloadsThe end of the month | Real Estate Marketing Crash | Credit Reporting | Lee Honish | Home Advocates

The Real Estate Market Crash | 10 Facts You Should Know | Eviction Moratorium | Foreclosure

http://homeadvocates.io/event/10 undisputed facts about the 2021 housing crash

www.HomeAdvocates.io 833-969-4673Real Estate is Broken | Interest Rate | Pre-Foreclosure | Eviction-Moratorium | Low Inventory

Direct Marketing for Pre-Foreclosure Listings | Eviction Moratorium | Home Advocates | 833-969-4673"Direct Marketing Now that Moratorium is over"www.HomeAdvocates.io12-step processLeadsSet upDeliveryFirst AppointmentQ & APLUS HUGE UPDATE ON MARKET

The Crash is coming | Lee Honish | Home Advocates | 833-969-4673New Podcast:"The Crash is coming"lee honish,homeadvocates.io833-969-4673New Podcast:"The Crash is coming"lee honish,homeadvocates.io833-969-4673

Coaching | Coaching Calls | Week of 8/8/21 | Lee Honish | Derek Kelly | HomeAdvocates.IO

Home Advocates Marketing | Pre-Foreclosure Listings | Lee Honish | https://www.homeadvocates.academy/

Eviction Moratorium is Over | Foreclosures | Evictions | Realtor | Lee Honish | Home Advocates

3 Steps for face2face | Lee Honish | 833-969-4673

Lee Honish on ABC Radio talking Pre-Foreclosure Market

Be the "F**kin' Perfect" Realtor® | Lee Honish | 833-969-4673

MAX Commission of 4.5% Seller Side on Pre-Foreclosure-Listings | Lee Honish | 833-969-4673

3 EASY Steps for Pre-Foreclosure Listings | www.HomeAdvocates.io 833-969-4673

How many homeowners are facing foreclosure | Covid19 | Eviction | Moratorium

The end of the eviction moratorium solution | Home Advocates | Lee Honish | Derek Kellyhttp://homeadvocates.io/ for information about joining and getting listingsThe end of the eviction moratorium solution | Home Advocates | Lee Honish | Derek Kelly

Home Advocates Lee Honish How to Write Your Own Book for FREE | Be an author #FREE | #whitelabel Book | The Book YOU WroteLIVE EVENTS & TRAINING http://homeadvocates.io/

Data, Foreclosures & ConversionsHome Advocates #coaching Data, Foreclosures & ConversionsLee Honish explains the current Data, Foreclosures & ConversionIf you have any question 833-969-4673 or visit www.homeadvocates.io for information about joining

http://homeadvocates.io/The End of the Eviction #covid19 #Eviction #Moratorium | #Listings for #RealtorsCurrent Market conditions for listingsCurrent Moratorium Update for evictionsMarketing for listings from distressed propertiesConversion for listings from distressed propertiesThe End of the Eviction #covid19 #Eviction #Moratorium | #Listings for #Realtors

9 Alternatives to Foreclosure #COVID19 #Evictions #moratorium #Realtors #listings Home Advocates Lee Honish Enroll NOW: https://www.homeadvocates.academy/

Home Advocates Presents: #Covid19 #Evictions #moratoriumHow to get #listings for #realtors Lee Honishvisit www.HomeAdvocates.Academy for full details

The Coming Distressed Market | #Covid19 | #Moratorium Home Advocates Lee HonishLIVE EVENT 5/14 Las Vegas www.HomeAdvocatesLive.comDistressed Property Education www.homeadvocates.io

How to build a brand that elevates your businessBuilding a brand is often synonymous with building a business. Your brand communicates what do and what you stand for, and it helps build trust with potential clients. Here are a few tips for building a brand that'll ultimately boost your businessHow to build a brand that elevates your business

Housing market is headed for a slowdown say Fannie, Freddie•Rising mortgage rates cause Fannie Mae and Freddie Mac to downwardly revise forecastoWho are Fannie mae and Freddie Mac•The economy is improving, homebuyer demand remains strong and COVID-era restrictions are easing, but mortgage giants Fannie Mae and Freddie Mac each predicted a slowdown in the housing market as mortgage originations decrease in 2021. •Fannie Mae revised its forecast down to predict mortgage originations will drop from 4.5 trillion in 2020 to just under 4 trillion this year and to just under 3 trillion in 2022.•Fannie Mae stated that while housing demand remains strong•Additionally, given the continued supply-demand imbalance, home prices are forecast to rise 8 percent in 2021 – up from the previously forecasted 4.2 percent – before decelerating to 2.9 percent annualized in 2022•Fannie Mae’s full-year 2021 real GDP growth expectations improved to 6.8 percent, including 9.1 percent annualized growth in the second quarter, due primarily to the continued easing of virus-related social restrictions and stimulus-driven consumer spending

12 videos every agent should make1. What people love and hate about living in (your area)Share with your audience all the things residents love about living in your area and the things they don’t love. Whether you’re talking about a city, a neighborhood or a subdivision, people are curious about what it’s like to live there, and these videos will draw them in.Whether we like it or not, negativity often attracts attention. If you share that you don’t love living in your area during the summer because July and August are incredibly humid, you’ll be a bit more relatable to the people trying to learn more.2. Renting vs. buying in (your area)Use this video to highlight the area you service, and include the area’s name in the title of your video. Then, really break down the specific options for your audience.Show them the numbers of renting versus buying. Include how much an average house would sell for and a rough idea of their mortgage payment, including taxes and insurance. Then break down the monthly expenses of the lease payment versus the mortgage payment. Highlighting the potential for capital appreciation, the tax advantages of ownership and demonstrating that their payments will actually be lower than if they rent will usually reveal the value in purchasing.3. Virtual open housesFacebook has given us unbelievable reach for virtual open houses, even if we live in an area with the option for in-person events. Although our in-person open houses might draw 10-12 people, a Facebook video allows you the opportunity to reach an audience of hundreds of people.It demonstrates to your sellers that you’re using unique methods to reach buyers, and it helps you draw a larger audience.And if you live in an area that hasn’t fully reopened yet, virtual open houses allow you to engage with an audience until things fully reopen safely.4. My favorite places in (your area)People who are thinking about moving to an area want to see a highlight reel of the best things around you, so highlight a variety of offerings in your area. Include places to take the kids, places to take your spouse and any of the things you love to do. Shoot video at the local park, a restaurant, the farmer’s market or on a bike trail you love to ride.Providing this insight allows potential buyers to begin to picture themselves enjoying the area. It also shows potential sellers that you are actively marketing the area to attract more potential buyers for their home, should they list with you.5. Coming soonAs soon as you take a listing, shoot a video — even if it’s with your phone — and tell your audience how excited you are to bring this house to the market in a few days. Give just a few details, such as the number of bedrooms and bathrooms, and invite interested people to private message you for more details.These videos will demonstrate a willingness to do something different on behalf of the sellers, and you might even get a chance to double-side some of your listings.6. Neighborhood highlightsCreate a video of the area you’re farming or a neighborhood that you love, and highlight amenities like a pool, neighborhood gym, dog park or anything else that will interest your audience. You can shoot this with your phone, or you can hire someone to shoot this for you.If you want to draw more traffic, you can spend a little money to buy a domain that you can point people to at the end of your video. If you’re highlighting Live Oaks subdivision, for instance, point your audience to a website you’ve created called LiveOaksSubdivisionHomesForSale.com, where they can see pictures of the homes that are available. Then point them to your website with an evergreen IDX feed of homes currently for sale in the subject neighborhood.We use BoomTown for this because it allows the visitors to see pictures of the houses that are for sale, and it has a built-in lead capture prompting for them to opt-in to see more photos. It’s a great way to add value to your farm and build your reputation as the expert in that neighborhood.Posting these videos on YouTube with proper titling, tagging, description and professional thumbnails has been highly effective for us over the past few months. If you aren’t sure how to correctly title and tag your videos on YouTube to generate the most organic traffic, try the tools Keywords Everywhere and TubeBuddy.7. Cost of living in (your area)People want to understand what it will cost to live in the area they’re considering, so start by figuring out the markets that are feeding people into your area. Doing a simple Google search for demographic information for (insert feeder city) and for your area will give you the ability to create personalized comparisons.In your video, compare the price of a house where the audience currently lives with a house in your area. The people searching for this kind of information are likely close to a buying decision, so you can help them gather the information they need and potentially engage with them before any other agents in your market.8. About me Customers want to do business with people they know, like and trust, so tell your story. Tell them about your family and your background in the industry. Explain why you love the industry, activities you enjoy and anything that helps people better understand who you are.About me videos give you the ability to connect with clients before you actually meet them in person.9. TestimonialsThese videos are critically important because they effectively tell people that you’re safe to do business with. Begin the process by contacting your previous clients and asking them to share their experience working with you. Ask what they liked about working with you.You could even record these at closing using your cell phone while your clients are happiest. Then, share these videos and begin to build rapport with your future clients.10. New listingsEvery single time you take a new listing, do a walkthrough video as proof of the business that you’re doing. Not only does it add value for the seller, but it also increases the odds that you’ll find the buyer who’s a good match for your property.Customers are drawn to people who are doing business and generating activity.11. Area demographicsTo help people get comfortable with your area, gather statistics about crime, school performance, available churches and other information that’ll help them decide whether your area is a good fit for them. They want to know whether their family will be safe, whether the schools are good and what activities will be available.Give them the information before they even ask for it, and they’ll be far more likely to call you when they’re ready to find a house.12. Interview local business ownersGive a shoutout to your favorite businesses in the area by interviewing the owners and giving them a chance to promote their businesses. These shoutouts can include restaurants, handyman services, service providers or any other businesses in your area. When you post this on social media, tag the business to cross-pollinate your audience on social media with their audience.This win-win proposition helps promote their business, and it draws potential clients to your network.When you share information about local businesses and service providers, people will consider you a resource for all things, especially real estate.

Zillow president expects increase in home listings as Covid certainty improves•Home supply could rise in the coming months as Covid certainty improves and the “great reshuffling” continues, Zillow President Susan Daimler told CNBC on Friday.•“What we know is that moving is on a lot of people’s minds, and we’re imagining a lot of would-be movers are going to come off the sidelines here,” she said on “Closing Bell.”•“It’s quite possible that we see a bunch of listings come on and there’s enough buyers to scoop them up and we’ll stay in this place we’re at right now,” she said.

3 ways to set buyers expectations during this sizzling-hot springBY ANTHONY WESTApril 06, 20211. Schedule a CITO (see-toe)One of the best and safest ways to meet with buyers and set their expectations early is by scheduling a CITO or time to “come into the office.” This can also be done at a coffee shop or other public place that can serve as a neutral ground. (For safety reason, this can also take place virtually). 2. Give them an overview of inventoryIf your market is as hot as it is here in the Midwest, then you know how scarce inventory is. For the year thus far, we’ve been down over 50 percent from last year. High demand and low supply equals a seller’s market — and buyers need to be prepared.3. Show them what they getSometimes you’ve got to go old school. Just get in the car, and go physically look at properties at different price points and locations to show your buyers exactly what they will get. This will help them see the reality of where the market is.We want to help you make more money — right now. All month, go Back to Basics with Inman as real estate pros share what’s working now and how they’re setting up to profit in a post-pandemic world.There’s nothing worse than going into a competitive market with unrealistic expectations. Simply put, it’s a bad use of time and resources, and it doesn’t benefit a buyer in the least bit. As the professionals, it’s our responsibility to educate our clients on where the market is and how best to approach it.By providing buyers with the tools they need early on, we can better help them navigate one of the busiest times of the year for real estate activity. Here are three ways to set expectations with buyers as we move into a busy, compeitive spring selling season. 1. Schedule a CITO (see-toe)One of the best and safest ways to meet with buyers and set their expectations early is by scheduling a CITO or time to “come into the office.” This can also be done at a coffee shop or other public place that can serve as a neutral ground. (For safety reason, this can also take place virtually). 2. Give them an overview of inventoryIf your market is as hot as it is here in the Midwest, then you know how scarce inventory is. For the year thus far, we’ve been down over 50 percent from last year. High demand and low supply equals a seller’s market — and buyers need to be prepared.The best way to do this is by giving them an overview of all the available inventory in areas they are looking at. Allow them to see what you see — just how many homes are for sale and the price points they hit.3. Show them what they getSometimes you’ve got to go old school. Just get in the car, and go physically look at properties at different price points and locations to show your buyers exactly what they will get. This will help them see the reality of where the market is.That open concept floor plan with the large renovated kitchen and walk-in pantry may not be achievable at “x” price but certainly possible at “y.” And if they’re making an offer, show them why it may not be in their best interest to try and bargain the asking price right off the bat. But instead, put their best terms forward to give them the highest chance of landing the property.It’s been said not to get too attached to a home or show too much emotion while you’re just viewing. Quite honestly, that takes the fun out of the process, and buyers should be excited to tour property and get their hopes up on landing the home they’ve been searching for.By setting their expectations early, agents can put their clients in a more controlled position to buy the home they love and educate them on the marketplace to make sound decisions as we move into an ultra hot spring selling season.

Consumers read 10 reviews first! What's your review strategy?Consumers increasingly write, read and follow online web assessments. So, have you accepted reviews as a part of your communication with the market? Here are a few compelling reasons why you shouldBY LISA SUAZO1. Are customers paying attention to online reviews of local businesses?Yep — and they are doing it in increasing numbers. From 2019 to 2020, the percentage of consumers who checked out online reviews of businesses of interest rose from 81 percent to 87 percent. Or, put another way, only one in 10 do not.2. How many reviews do consumers need to trust a business? For the past three years, the average consumer has read 10 reviews before taking the plunge and engaging a particular business. I think this number and frequency comes as a surprise to many of us.3. What percentage of customers asked to leave reviews actually do?I often come across agents who feel that they are bothering their clients by asking them to write a review. However the survey found that 76 percent of consumers willingly provide this kind of online assessment.4. What percentage of consumers who read reviews read the response from the business?Almost all the people who read online reviews — 97 percent according to BrightLocal — not only watch for the business to respond, but make judgments based on what they see. This means that all businesses, including real estate agents, need to respond to online reviews — ideally within 24 hours.5. What about responding to negative reviews?Do you lose points by ducking a negative review or gain some points by directly addressing it? It turns out the most important point is that you respond. The BrightLocal research determined “there’s no real distinction in consumers’ perceptions of businesses responding to ‘positive’ versus ‘negative’ reviews.”We want to help you make more money — right now. All month, go Back to Basics with Inman as real estate pros share what’s working now and how they’re setting up to profit in a post-pandemic world.Online ratings and reviews are an inescapable part of the real estate business today. But just how much do the opinions of past buyers and sellers affect the actions of prospective ones? The answer may surprise you.One source of information I use to help me advise agents on digital marketing best practices is BrightLocal, which measures overall consumer online behavior through a range of key data points.The following five statistics, pulled from BrightLocal’s recently released 2020 Local Consumer Review Survey, make a compelling case for how real estate agents should approach this important aspect of their business.1. Are customers paying attention to online reviews of local businesses?Yep — and they are doing it in increasing numbers. From 2019 to 2020, the percentage of consumers who checked out online reviews of businesses of interest rose from 81 percent to 87 percent. Or, put another way, only one in 10 do not.We’re now in “a review economy,” said Tom Ferry, the top-ranked real estate educator and bestselling author. Today, clients and prospects are consulting online reviews before they purchase anything, whether it’s spending $10 on Amazon or $10,000 on Expedia.Those same customers search through agent online profiles and company histories before deciding whether to reach out to you. An agent with only a small sampling of reviews, old reviews or no reviews, will almost certainly lose a potential client to the competitor who sports a healthy mix of positive online engagement. Your collection of positive reviews tells a story of dedication, service and winning negotiation skills. And best of all, it’s being said by clients, not the agent.2. How many reviews do consumers need to trust a business? For the past three years, the average consumer has read 10 reviews before taking the plunge and engaging a particular business. I think this number and frequency comes as a surprise to many of us.3. What percentage of customers asked to leave reviews actually do?I often come across agents who feel that they are bothering their clients by asking them to write a review. However the survey found that 76 percent of consumers willingly provide this kind of online assessment.So, don’t worry. Reach out. It’s clearly become a necessity if nearly 90 percent of consumers want to read them and three quarters of consumers will leave them! When an agent delivers superior service and great guidance, an appreciative client will likely want to help. It’s the law of reciprocity at work.So, agents should always ask for a review from customers who have a successful purchase or sale. Asking is the first step. It may also be the hardest, but it will get easier. Make it part of your checklist and have a template with email copy including links to your preferred review platforms ready to go with your thank you or follow-up. A few prompts can be provided to get them started and up your rate of response. There are also online reputation management systems that can automate the process for you. GatherUp is one example. (Writer’s note/discloser: We internally use GatherUp products, but make no money for mentioning it.) If someone doesn’t respond within a few weeks of your request, it’s worth it to follow up. It’s a good excuse to check in to see how they’re adjusting.4. What percentage of consumers who read reviews read the response from the business?Almost all the people who read online reviews — 97 percent according to BrightLocal — not only watch for the business to respond, but make judgments based on what they see. This means that all businesses, including real estate agents, need to respond to online reviews — ideally within 24 hours.Whether or not it’s a positive review, consumers notice that a business took the time to show appreciation that they and other consumers are taking their time to comment. If it’s a positive review, responding with a short and sweet “thank you” or message of well wishes and appreciation will suffice. 5. What about responding to negative reviews?Do you lose points by ducking a negative review or gain some points by directly addressing it? It turns out the most important point is that you respond. The BrightLocal research determined “there’s no real distinction in consumers’ perceptions of businesses responding to ‘positive’ versus ‘negative’ reviews.”If anything, the edge goes to those who face up to the negative reviews. Seventy percent say they are more likely to use a business that has responded to their negative review, while 69 percent say that about those responding to positive reviews. Clearly, regardless of the type of review, the key is showing you care and that you’re willing to engage regardless of the comment. And the way we respond to criticism is a better test than how we respond to compliments. LeBron James said, “I like criticism. It makes you strong.” So respond graciously and professionally. Accept online reviews as part of communication with the market and potential clients will give motivated agents a boost in engaging prospects and elevating their online reputation.

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the most painful part of real estate digital transactions | www.Everhome.io presents @DavidBartels @LeeHonishMarketing

www.everhome.io Presents @DavidBartels @LeeHonishMarketingForeclosure ban and mortgage forbearance through June

Nearly 1 in 5 millennials have given up on homeownershipvisit www.everhome.io and learn about flat fee listings like a realtor

What Will Real Estate Look Like In 2021? 3 Homebuying Trends You’ll See This YearForbes•Record-Setting PaceoHomes aren’t just selling, they’re selling at a record-setting pace. The Covid-fueled real estate boost caused an average of 42% of home listings nationwide to sell in two weeks or less. One survey found that more than half of homebuyers say the pandemic accelerated their homebuying process. In the competitive San Diego market, 55% of homes are off the market in less than weeks, with an average of just 20 days on the market. o2021 won’t be such a steady rush. Due to the pandemic, typical homebuying seasons went out the window in 2020, creating a free for all. But as things return to a new type of normal in 2021, look for homebuying seasons to return, with a surge of buyers in the spring and summer months and things cooling down towards winter.•Changed Budgets, Higher PricesoThe move to remote working has pushed people out of cities and led to an increase in homebuying in the suburbs. Suburban areas have seen higher home sales growth than urban areas, and many homebuyers have increased their willingness to commute when they return to work in the office. oLowered budgets are changing what some homebuyers are looking for, leading to growth in less expensive regions•Leaving Cities And High-Tax AreasoThe move to remote working has pushed people out of cities and led to an increase in homebuying in the suburbs. Suburban areas have seen higher home sales growth than urban areas, and many homebuyers have increased their willingness to commute when they return to work in the office. oLowered budgets are changing what some homebuyers are looking for, leading to growth in less expensive regions.oThe top 10 most competitive real estate markets during the pandemic are Seattle, Omaha, Lexington, Denver, Indianapolis, Portland, Oklahoma City, Sacramento, Oakland and Tulsa. These areas will continue to thrive in 2021, especially in their suburban areas. Will this also create opportunity in the cities

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www.everhome.io presents:Real Estate Pros Pick 2021's 7 Biggest Housing IssuesThe lack of inventory will be the biggest story in housing this year, said real estate professionals recently surveyed by HomeLight, a real estate referral company. HomeLight’s Top Agent Insights report, conducted in the fourth quarter of 2020, reflects responses from more than 1,000 real estate professionals nationwide.What issues are top-of-mind for real estate professionals for 2021? Survey respondents identified seven key trends expected to affect housing the most in the new year, according to the HomeLight survey:1.Inventory shortages.a.Eighty-four percent of the real estate professionals surveyed said that inventory was lower than they expected at the end of 2020.2.Widely distributed vaccines to boost consumer confidence.a.Fifty percent of agents said that a widely distributed vaccine could encourage more sellers to list their homes and help offset inventory challenges.3.Some homes will be lost to foreclosure.a.Forty percent of real estate agents believe that the end of forbearance and stimulus plans this year could cause an increase in foreclosures in their markets.4.Low mortgage rates will continue to drive demand.a.Ninety-seven percent of agents said that low mortgage interest rates increasing buyer demand in their markets, the HomeLight report notes.5.A permanent shift to remote work could encourage more moves.a.Nearly 15% of agents said the shift to working from home could have the biggest impact on the real estate market in 2021.6.Virus surges won’t lead to further market panic.a.“The U.S. may not yet have a handle on COVID-19, but the surprise element has passed,” the report says.7.Affordability challenges persist and tax credits may help.a.Thirty-seven percent of non-homeowners cite down payment as one of the biggest obstacles to homeownership.b.Eleven percent of agents surveyed believe that finding an affordable home will be a major challenge facing buyers in 2021.c.Fifty-five percent of the real estate professionals surveyed by HomeLight said they were in support of President Biden’s proposed $15,000 down payment tax credit for first-time buyers

FHFA extends foreclosure, eviction moratorium to February•The Federal Housing Finance Agency announced Tuesday that Fannie Mae and Freddie Mac will once again extend moratoriums on single-family foreclosures and real estate owned evictions, this time until Feb. 28, 2021.

•What about the rest of Biden’s housing policy?oAffirmatively Furthering Fair Housing.During his campaign, Biden promised to reinstate AFFH, allocate $640B over the next 10 years to dramatically increase the nation’s housing supply, provide more robust funding for affordable housing projects through the Housing Trust Fund, establish “eviction diversion programs” for at-risk tenants, and create emergency funding for housing vouchers and homeless shelters.o$15,000 first-time homebuyer tax creditoHUD Marcia FudgeCongresswoman Fudge consistently fights for voter protection, equitable access to a quality education from preschool through post-secondary programs, child nutrition, food stamp (Supplemental Nutrition Assistance Program) recipients, access to locally grown, healthy foods, fair labor practices, and civil and human rights, among other issues. Additionally, she remains a steadfast advocate to strengthen and preserve Social Security, Medicare and Medicaid.•“Control of the Senate would give Biden his best shot at signing major new legislation on key issues such as the climate emergency, immigration, voting rights, poverty and racial justice,” a Guardian article read. “But even two Democratic victories in Georgia would not mean that Biden could easily implement a progressive legislative agenda, because centrist Democrats in the Senate might break with the party in close votes.”

(Realtor Edition) Elections, Civil War and What that means to Real Estate | David Bartels | Lee Honish | Everhome.ioWhat Georgia's election results could mean for US housing policyInmanWhat Georgia's election results could mean for US housing policy•In addition to breaking a 56-year run by Republican representatives and electing the state’s first Black senator, the election of Warnock and Ossoff would tip the scales back in the Democrats favoroAgenda and policy without republicans oThey would still need some form of republican backing for approvals•The most urgent piece of legislation on the line is the Ways and Means Committee Chairman Richard E. Neal’s (D-MA) Caring for Americans with Supplemental Help (CASH) Act of 2020. The CASH Act proposes $2,000 stimulus checks for individuals, $4,000 for married couples who filed joint tax returns, and $2,000 per dependent.•President Donald Trump signed a $900B COVID-19 relief bill on Dec. 29, which extended the Centers for Disease Control’s national eviction moratorium, expanded unemployment benefits, released another round of Paycheck Protection Program loans for business owners, provided partial debt forgiveness for Small Business Administration loans and $25B in rental assistance.•$25B in rental assistance will help prevent millions of Americans from falling into the fray, housing advocates and Democratic legislators say it’s not enough to stave off the immense personal and economic harm a wave of evictions and foreclosures could create.oStill no word on evictions and moratorium

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visit our sponsor www.everhome.ioHome prices are rising faster in the middle of the U.S. as Covid drives people away from coasts Points:1.Smaller metropolitan markets like Indianapolis, Kansas City, Boise, Austin, Cleveland, Cincinnati, Memphis and Pittsburgh are seeing some of the strongest price gains in the nation.a.Is there an exodus from higher price marketsb.Can this effect Prices in those cities2.Prices in those cities are now at least 10% higher compared with a year ago.a.Where is the cap on affordability now in outlying communities and citiesb.What effect will the new president have3.Nationally, home prices rose a remarkable 8.4% in October from a year earlier on the S&P Case Shiller Index. That’s up from a 7% gain in September and is the largest one-month move in over a decade.a.General Affordability

“A super hot market': Economists weigh in on what to expect in 2021”InmanThe housing market will enter 2021 blazing hot with off-the-charts demand and an extreme shortage of homes for sale. While the risk of a double-dip recession hovers in the background, home sales and prices are expected to keep rising next year as coronavirus vaccines become available, the economy starts buzzing again and a new president focused on housing takes the helm. Inventory will continue to rule.That’s according to several economists Inman reached out to for their predictions on how the housing market would fare in 2021. They weighed in on home sales and prices, inventory, the impact of a coronavirus vaccine, the incoming Biden presidency and the risk of another recession.On home prices and sales“We’re going to start the year in a super hot market,” said Mike Simonsen, CEO of housing market analytics firm Altos Research, in a webinar last week called “The Real Estate Market Outlook for 2021.”Inventory has plunged to just under 469,000 single-family homes this month, down some 40 percent compared to the same time last year, according to Altos’ data.While about 31 percent of listings have gotten price reductions at the end of the year in previous years, current price reductions only stand at 26 percent, according Simonsen. “That’s because demand has been off the charts,” he said. “[For] houses on the market now, if they take a price cut, that means the demands is a little weaker, and the price that it’s going to sell at in January or February, it’s going to be lower.Win more double-sided deals in 2021With Knock, agents automatically get both the buy-side and the sell-side of their clients’ deals, ...He added that prices are “going to keep falling now through February, as the fresh new inventory comes on, and then we’ll probably have a resumption of a more normal market in the second quarter of 2021.”Danielle Hale, chief economist at realtor.com, expects home sales to continue growing, jumping 7 percent in 2021, and prices to continue rising to new highs, though at a slower pace than in 2020, increasing 5.7 percent.“As far as seasonality goes, we expect housing to be busier in spring, like it normally is, and while fall will be strong, we don’t expect it to match 2020’s frenzied level of activity,” she told Inman via email.Daryl Fairweather, chief economist for Redfin, also predicted a strong year for home sales in 2021, even stronger than 2020 has been. She anticipates low double-digit home sale growth, close to 10 percent.“There a lot of people who may have wanted to move this year but were just too nervous,” she told Inman in a phone interview. “They didn’t want to lose their homes during a pandemic or they didn’t want to list during uncertain economic times. It seems like next year the economy will be in a better place than it was this year.“With the vaccine on the horizon we may even be able to open the economy, so that will lead to a lot more economic confidence among homebuyers and more people will just be willing to enter into homeownership with the recovery, though we’ll probably also see slightly higher interest rates. Interest rates have been at record lows this year, and they will probably take off a bit in 2021. That will make homebuying slightly less affordable, so we may see slower price growth in homes, just because of higher interest rates.”Fairweather said she thinks more people will move across the country next year as remote work becomes more normalized.“They’re going to seek out places that are more affordable where they can have more space, and they’ll choose to live in places that meet their own personal preferences instead of just living where they can find a job,” she said.She expects home prices to rise the most in the most affordable places in the country. “We’ve seen a lot of migration to places like Austin and Phoenix,” she said. “I think that there is this kind of spillover effect where Phoenix becomes expensive, and then people leave Phoenix for like Tucson or they leave Austin for San Antonio and prices there in turn rise.”In a forecast released Tuesday, the Fannie Mae Economic and Strategic Group had more modest expectations, predicting a 2.8 percent rise in total home sales in 2021 after a 7.6 percent rise in 2020. The mortgage giant expects the median existing-home price to rise 4.1 percent next year, to $302,000.“Even though near-term economic growth may be slowing, as made evident by the latest employment data, we believe the high probabilities of a successful COVID-19 vaccine distribution and additional federal stimulus will carry the economy through a relatively soft first half of 2021 before accelerating in the second half,” said Doug Duncan, Fannie Mae’s senior vice president and chief economist, in a statement.“We also expect housing to remain strong, despite slowing from its previously torrid pace, as homebuilders catch up on current commitments and more existing homeowners list their homes to take advantage of strong price growth. We expect the mortgage market to finish 2020 at a historic level of production before slowing slightly but remaining strong in 2021.”On inventoryThe biggest factors that will drive the housing market in 2021 are the “age-old economic fundamentals of supply and demand,” Svenja Gudell, chief economist for Zillow Group, told Inman via email. That means sellers will likely continue to have the upper hand.“The number of available homes will remain low, and demand for them will stay exceptionally high,” Gudell said. “This ongoing push/pull will ensure that home prices keep rising at an above-average pace, which will continue to cut both ways. For existing homeowners, there will be enormous opportunities to build and utilize equity, especially in a post-COVID economy in which we are very likely to see a surge in spending of all kinds.“But for those struggling to enter the market, low mortgage interest rates offer little cover for home prices that have risen much faster than incomes over the past several years, and saving an adequate down payment won’t get any easier. I also think the traditional home shopping season will be more fluid as additional tools enable more sellers to reach more buyers, and vice versa, regardless of the time of year.”Gudell is hopeful that a vaccine will ease seller anxieties enough to pull them off the proverbial fence.“Increased levels of new construction activity at the tail end of 2020 will carry over into at least the first few months of 2021, both of which will add some modest amount of new inventory,” she said.“But I still expect inventory to remain relatively low. The market will continue to move quickly, but the ongoing adoption and refinement of tech tools like push notifications when homes hit the market, 3D tours and virtual closings will help consumers keep pace, shortening the home search and sale process from months, to weeks or days in many cases. This will mean continuing high velocity in the housing market and a higher number of transactions than we have seen in recent years.”Gudell expects the rental market will “come back strongly” in a post-COVID world, when urban living regains its previous shine.“[That’s] welcome news for struggling landlords, but little solace to younger Americans just starting out and saddled with high rent burdens,” she said. “Household formation has been historically weak for the past several years, but these millions of ‘missing’ households will continue to set out and seek homes of their own and are very likely to turn to the rental market as the traditional first step, reigniting rental demand.“The math is unavoidable — there are millions of millennials aging into their prime homebuying years, and millions more Gen Zers behind them that all will want and need homes of their own, keeping demand at a boil for years to come.”Redfin’s Fairweather is optimistic that 2021 be a “very strong year” for new construction, in part because low interest rates will make it cheaper to build homes and because a big pause in commercial building will mean that residential builders don’t have to compete for workers and materials. Fannie Mae predicts single-family housing starts will rise 12.8 percent to 1.1 million in 2021, from 981,000 in 2020. Still, it won’t be strong enough to overcome years of underproduction, according to Fairweather.“I think new construction will have its best year since the last housing crash,” she said. “But … we’ve been in a decade-long slump of new construction. So one good year isn’t gonna get us out of the hole that we’re in. There will still be overall a shortage of homes. But you know, every little bit helps.”She said the market is short about 2 million homes, so it would “take 10 years of basically doubling our production to get us even close,” she said. Realtor.com put the shortfall even higher, at nearly 4 million homes.“I think if we really wanted to address the shortage of homes, there would have to be significant government intervention [and] subsidizing of new construction,”Fairweather added. “It’s not going to happen just from purely market-driven forces.”Kosta Ligris, co-founder of digital mortgage platform Stavvy, anticipates that single-family homes will remain in demand in 2021.“The comfort and perceived safety of being in a single family home with no common areas or exposure to unknown contacts and risk has never been more relevant,” he told Inman via email. “I am seeing single family homes in suburban areas do very well and expect this trend to continue well into the spring 2021 market.”On the Biden presidencyRealtor.com’s Hale anticipates the Biden administration will likely focus its early efforts on keeping the coronavirus as contained as possible.“Until vaccines are more widely available, this is one of the best ways to help the economy heal,” she said. “Additionally, if a deal is not reached before January, ensuring that another