March Newsletter and Market Update
For me, the word of the month is ‘strategize’…and that’s because the real estate market is moving fast and furiously. If you don’t have a strategy, you will not be adequately positioned as a seller or a buyer. If you are a seller, do you fix up your house or just list it in its current condition? Do you price it lower and hope for multiple offers? Do you price it at market and expect a few offers – or maybe just one? Or do you price it high and hope a frustrated buyer is willing to pay any price?
If you are a buyer – do you use an escalation clause? Do you waive all contingencies? Do you offer a free Post Settlement Occupancy Agreement? Do you want to add an appraisal gap statement? Do you take it “as is”? So many questions need to be addressed; each situation is different and should be analyzed individually. The good news is that I have the answers for you, whether you are looking to sell or buy in today’s market, who you work with matters!
As you know, not every house will sell just because of the market. You still need to have the right strategy to get it sold. On the flip side, a strong offer can position you to win over multiple other contracts with the right strategy, so call me to discuss your situation in more detail. I am always here to help.
I am getting many real estate-related questions lately – will the rising interest rates hurt the market? Will the market be impacted by the Feds increasing their overnight rates? Will the invasion in Ukraine and all its effects slow down the real estate market? Will rising gas prices impact real estate? How does rising inflation affect the real estate market? So many good questions. Here are the answers – at least the ones I have today. Mortgage interest rates remain at historic lows, and as a matter of fact, they are below where they were before the pandemic started. Given the supply and demand metrics in the area and the employment mix mortgage rates would have to get over the 5% range and on it’s way to the 6% before they began to seriously impact the market, and the government can’t afford to let this happen. Presently, rates are at 3.75% for conforming loans – an incredibly reasonable rate. The Fed rate increases do not directly impact mortgage rates, so this will not be a considerable influence. Rising gas prices may hinder a few first-time buyers from entering the market (they are budget-conscious overall), but this will not be enough to slow down home buying demand. Inflation may hinder some people from buying, but in the end, it won’t have a profound affect on OUR market. We are receiving multiple offers across all price points, so we will still have a robust real estate market even if half the buyers drop out. Lastly, if it gets worse, the situation in Ukraine may impact housing. At this time, it is actually helping to bring rates down, but it hasn’t slowed demand or slowed price appreciation. Only time will tell, but all is good on our real estate front right now.
There are many scenarios and questions out there but know that I am here to help answer them. Just give me a call to discuss everything with you!
Happy St. Patrick’s Day!
It’s a good life.
A MAJOR FIRST: RE/MAX AGENTS CLOSE OVER 2 MILLION TRANSACTION SIDES IN 2021
Read the full article at news.remax.com | George White
As announced at the 2022 RE/MAX R4 convention, agent productivity hits a new high for the network – and the entire real estate industry.
RE/MAX agents closed more than 2 million total transaction sides last year, a milestone no other real estate brand has ever reached, President and CEO Nick Bailey announced at the rousing Opening General Session of the 2022 RE/MAX R4 Convention in Las Vegas.
“We’re a company of firsts,” Bailey told the live audience of more than 7,000. “And now we’re the first (network) in the history of real estate to close 2 million sides in a year.”
The announcement was one of many highlights in a session –hosted by radio personality Bobby Bones – that reinforced how RE/MAX is a forward-looking, tech-savvy network built on a time-tested foundation of productivity and service.
“Our foundation is solid, and we continue to evolve and expand,” Bailey said, drawing an analogy to his childhood home – built decades ago but constantly updated, improved and modernized.
RE/MAX agents increased their productivity in every area last year: U.S.: 16.3 sides/agent | Canada: 20.4 sides/agent | Global: 9.9 sides/agent
Nobody sells more Real Estate in the world than RE/MAX. At RE/MAX Gateway, we have the tools, skills, knowledge and the drive to provide the best services to our clients. Give me a call to learn more!
Recipe of the Month
Cajun Shrimp Avocado Tostadas
Prep time: 10 min | Cook time: 20 min | Serves 4
• 1 lb medium/large shrimp peeled and deveined
• 1 tablespoon of Cajun seasoning
• 3 limes
• 1 teaspoon salt
• 3 ripe avocados
• 1 cup diced tomatoes
• 2 teaspoons chopped cilantro
• Corn tortillas
• Cotija cheese
• Sour cream
• In a large bowl add shrimp, Cajun seasoning and the juice of 1 lime and toss and set aside.
• Halve and pit the avocados, scoop out the flesh and mash into a bowl. Add in salt, juice of half a lime and cilantro. Mix well.
• Heat a large skillet on medium heat and add about 1/4 to 1/2 inch of oil to skillet (should be hot enough to bubble and sizzle when tortillas are added) Add tortillas and cook 1-2 minutes on each side until crispy. Remove to a paper towel to drain.
• In the same skillet remove all remaining oil except 1 tablespoon. Add shrimp and cook 2-4 minutes on each side or until opaque and cooked through. Remove and set aside.
• Spread the mashed avocado onto the tostadas. Top with shrimp, tomatoes, sour cream, cotija cheese and cilantro. Serve with lime wedges.
6 TIPS FOR SUCCESSFUL SPRING CLEANING
thespruce.com | Sarah Aguirre
The flowers are blooming, the birds are serenading, and the house still feels like it’s stuck with winter blues. Spring cleaning is a tradition that allows us to freshen up our homes and get a head start on the often hectic seasons of spring and summer. It can feel like a daunting task, but it doesn’t have to be difficult. Here are six spring cleaning tips to get you started:
Clean Room by Room
Approaching your house room by room is the most effective way to deep clean it. Create cleaning checklists for each room to help you get organized and to remind you of the areas that need extra attention. Feel free to skip the areas that have been cleaned recently, and focus on the parts of your home that were largely neglected over the winter.
Organize and Clear the Clutter
One of the biggest parts of spring cleaning is often getting rid of clutter. A systematic four-step approach can be helpful for this. Identify problem areas, analyze reasons for the clutter, determine solutions, and implement them. Sorting your belongings into four categories—trash, give away, store, or put away—can also be effective as you go through the spring-cleaning process. Move the clutter out as soon as possible, whether it’s bringing a donation box to a charity or planning a yard sale.
Get the Household Involved
Make spring cleaning a household endeavor. Even young children can be excellent helpers. Assign age-appropriate chores, so everyone feels included. Try throwing on some music as you all clean or establishing a household reward as an incentive to get the work done.
Tackle the Seasonal Chores
Many chores need to be done seasonally, especially in preparation for warmer weather. So incorporate them into your spring-cleaning routine to get them out of the way early. For instance, tackle outdoor chores, such as cleaning the grill, patio, and outsides of windows, as soon as the weather warms up. Also, store winter clothing, bedding, decor, and other items. And pull out your spring items to give your home a refreshed look.
Keep Cleaning Products to a Minimum
If you need to shop for new cleaning products for spring cleaning, keep your items to a minimum. Myriad cleaning supplies can create unnecessary clutter, and you probably don’t need all of them to keep your home fresh and clean. Opt for a good all-purpose cleaner and microfiber cloths. Those items will cover the majority of surfaces in your home. Then, purchase other specialty cleaning supplies only as needed.
Establish New Cleaning Habits
A thorough spring cleaning that covers the whole house is a great opportunity to establish ongoing cleaning habits, which can make the next spring cleaning even easier. For instance, don’t try to do all of your spring cleaning in one day or even one weekend. Instead, tackle items on your spring cleaning to-do list for just 15 minutes each day. That will help to get you in the habit of tidying up for 10 to 15 minutes per day even after you’re done with your spring cleaning tasks.