new construction: You are Invited to the State of the Market
- 01/12/21 05:05 PM
You are Invited to the State of the Market
Today, I want to invite you to my State of the Market coming up at the end of January. It is so important—especially this year—to know what's been going on and what's happening right now in the market. There are changes coming in the new year. There are trends that started because of Covid. Bottom line: the market in 2021 is going to be very different.
You need to understand what the changes, challenges, and potential problems are. For example, how will forbearance paybacks affect your clients? What's going on … (1 comments)
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new construction: Why You Need To Know About Easements
- 09/04/20 09:53 AM
Why You Need To Know About Easements
Hi, everyone. Today's Zebra Report is on location. I am on-site today at a residential development property troubleshooting some easement inspection work. Oh, how fun is that?
I want to talk a little about easements today because I have received a lot of calls recently pertaining to delayed closings due to last minute issues arising from easement challenges. Easements are by far one of the trickiest things to navigate when you are buying, selling, and representing clients on real estate transactions.
Easements can be a complicated topic due to the incredibly … (13 comments)
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new construction: What Covid-19 Means to Inventory in 2020 and Beyond
- 04/17/20 10:12 AM
What Covid-19 Means to Inventory in 2020 and Beyond
Whenever there is any type of crisis in the housing market it is critical to take a step back to assess how the current crisis can affect housing in the future. Real estate markets are all driven by supply and demand and without inventory house prices can soar and buyers can be left without product to buy.
Most people may be wondering why I am worried about inventory at a time when buyers are sitting on the sidelines waiting for the Covid-19 crisis to pass. The reason I always worry … (1 comments)
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new construction: 7 Factors That Will Signal a Market Change
- 07/20/18 12:07 PM
7 Factors That Will Signal a Market Change
Recently I have noticed that more and more local, Puget Sound area agents are contacting me wondering if our market is correcting. When asked why, they say they are listening to the news and media, other agents, and even their clients talking about the next bubble or crash.
For any agents who have been selling real estate for more than 10 years and who were licensed when the market corrected in the past, it is understandable there is a level of fear that comes with hearing that conditions could change.
However, … (2 comments)
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new construction: Be on the Lookout for Up-and-Coming Communities
- 11/17/17 09:22 AM
Be on the Lookout for Up-and-Coming Communities
Recently I had a client call me to discuss how excited she was about writing an offer on an exciting new community in her area. I asked her if it was a community that I happen to know a lot about. She was so surprised that I had so much knowledge about it even though I hadn't toured the model homes yet.
I knew about this community because it had been in the planning stage for almost a decade. I was interested because of the surrounding area and how the development was … (12 comments)
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new construction: Predicting Real Estate Inventory: It's All About the Permits
- 10/13/17 11:09 AM
Predicting Real Estate Inventory: It's All About the Permits
Anyone who knows me will tell you that I have been talking about inventory challenges for years. Many markets across the country have experienced severe shortages of inventory caused by reduced new construction building. This has resulted in dramatically increased house prices.
Don't forget that the real estate market is just like the stock market in that prices change based on supply and demand. Markets across the country that have experienced inventory shortages have been also experiencing sharp price increases. So, how do you know when the inventory shortages will … (7 comments)
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new construction: The Changing Face of Real Estate: 2017 and Beyond
- 08/11/17 04:44 PM
The Changing Face of Real Estate: 2017 and Beyond
Real estate has been through so many changes over the past 10 years and there are more to come. If we take a good look at how our population is aging and changing you can easily forecast some changes ahead. In this two-part series we will look at the top 10 changes and trends the real estate industry will experience in the next few years to come.
Baby Boomers Double Down on Real Estate
Baby Boomers are coming into some cash in the way of inheritance money and they are investing … (0 comments)
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new construction: Becoming a Market Expert: The 20 Things You Need to Know
- 02/24/17 09:32 AM
Becoming a Market Expert: The 20 Things You Need to Know
If you want to be viewed as a market expert, you must completely understand your local market. Most of this information is easily accessible from your MLS. Every agent must be able to analyze for their marketplace:
SALES ANALYSIS
Go into the MLS and find out the total number of sales in your area/s for each of the past three years. This will show you a number of things, including the pace at which the market has sold. Put this information into your binder along with a chart or … (12 comments)
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new construction: How to Make the Best of Your Time When you are a Site Agent
- 02/03/17 12:11 PM
How to Make the Best of Your Time When You are a Site Agent
With builders back in the market, they are calling upon agents to sit at model homes waiting to tour prospective buyers. This article isn't going to tout the benefits or the cautions about making this commitment (as I certainly do not recommend this for everyone), but instead I am addressing how to make the best of this time and how to make this a very lucrative lead generation system.
Understand the rules around what you are and are not allowed to do. Depending on the … (0 comments)
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new construction: The Market is NOT Falling!
- 08/26/16 04:26 AM
The Market is NOT Falling!
I have received so many emails this month asking me if the market is going to crash just because pending sales in their area have decreased slightly. When I ask them what area they are in and when I look the stats up on the MLS I confirm what I know which is that the slight decrease is completely normal for this time of year.
Real estate markets everywhere fluctuate not only when markets are tumbling, they fluctuate based on what is happening in each local area. For example, the last week of August … (1 comments)
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new construction: Custom Home Building: Trend or Here to Stay?
- 08/19/16 07:20 AM
Custom Home Building: Trend or Here to Stay?
More and more people are opting to build their own custom home rather than buy ready-made new construction. There are many reasons for this, which I'll get to in a moment, but this increase will surely create a further shortage of available trades.
The definition of a custom home build is when a home is built by a homeowner on their piece of land. It is not, for the purposes of this article someone who buys a custom home; it is someone who builds a custom home.
So why has custom … (1 comments)
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new construction: Single Family Tear-Downs
- 03/31/16 07:39 AM
Single Family Tear-Downs
Depending on where you are in the country it may or may not be unusual for you to work with a buyer who finds the ideal lot in the ideal neighborhood, but it just happens to have an old and outdated home on the property. Although the cost to build new when one has to demolish first is usually greater than building on a blank slate, the buyer proceeds and builds the home they have been dreaming of.
According to the National Association of Homebuilders, in 2015 almost 8% of all single family home starts were … (0 comments)
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new construction: The Census Bureau Does More Than Just Track Population
- 03/04/16 08:36 AM
The Census Bureau Does More Than Just Track Population
The United States Census Bureau is one of my favorite resources for everything from population charts, area information, and even what is happening in real estate. Wait... did you know that the Census Bureau tracks what is hot in housing trends? They do indeed!
The Census Bureau conducts The Survey of Construction which looks at current national and regional statistics on housing starts, housing completions, and even the characteristics of single family housing and multifamily housing. The Department of Housing and Urban Development contributes to funding this survey. Housing data … (2 comments)
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new construction: New Construction in High Demand
- 01/08/16 01:34 AM
New Construction in High Demand
New construction is a major driver of real estate markets nationwide. Without it inventory levels remain lower than normal and house prices can't help but rise. In order to look forward to what is expected for the spring building market you have to first understand what it takes to build a home.
With the average new home requiring over 20 subcontractors to complete, it is no wonder homes are taking longer to build than normal. If there is also a shortage of one or two of these subcontractors it can delay completion of the … (0 comments)
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new construction: Spring Leads Into a Robust Summer Market
- 07/10/15 03:56 AM
Spring Leads Into a Robust Summer Market
Over the past few years we have been used to real estate sales taking a breather in the summer months after the usual spring boost of sales. However, this year is different and the rate of new single family home sales has continued to soar to its fastest pace in seven years. This has caused many to wonder whether or not the market has hit its peak.
With new home inventory remaining steady, both locally and nationwide, the national month’s supply of inventory number dropped to 4.5 months (this is the number … (1 comments)
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new construction: New Homes Sales to Surge By 30%
- 05/29/15 04:01 AM
New Homes Sales to Surge By 30%
I have been reporting on new home sales for years and track this facet of the market with a great deal of interest as a Master in Residential Marketing through the NAHB. I find the new home market to be a strong barometer of what is happening with the market as a whole.
A stat released by the Census Bureau caught my eye this week - new home sales rose 26% from one year ago during the same time in April to 517,000 sales - the third highest month of activity in … (4 comments)
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new construction: Custom Homes on the Rise Could Spell Opportunity
- 02/20/15 05:06 AM
Custom Homes on the Rise Could Spell Opportunity
Custom homes have always been a part of any real estate market and will continue to be. The number of homes being built on an owner's land with either the home owner or builder acting as the general contractor jumped significantly in 2014. Is it that we are all watching too many home improvement shows and the mystery of building is being simplified or is it because the demand has risen so dramatically? I would say it could be a little bit of both.
The National Association of Home Builders (NAHB's) … (0 comments)
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new construction: New Construction: 5 Trends You Need to Know
- 08/26/14 02:26 AM
New Construction: Trends You Need to Know
As real estate professionals we are trained to keep a very close eye on changes in the housing marketplace. But we also need to pay particular attention to what is happening in the world of new construction, as construction trends can have a dramatic impact on the housing market. Here are five important trends we've seen recently in new construction that you may find interesting.
House Size Decreases
When the real estate market is booming house sizes seem to increase because builders and home buyers have more confidence. When the market struggles, the size … (1 comments)
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