tate Of The Market
The pandemic did not hit home sales, but as restrictions begin to loosen, buyers are returning
In full force. Increased demand has inventory extremely tight, but tome builders are starting to pick up the slack

Regional Market Snapshot
While national trends also hit close to home, at the end of the day, real estate is local.
Here's a look at the post-pandemic rebound in each region

West Median Price $501,200 +19.9% year over year
Midwest Median Price $259,300 +13.5% year over year
Northeast Median Price $381,100 + 22% year over year

This is not a bubble
The housing market is hot but lead economists say a crash is not imminent
Causes of the last housing bubble (2007- 2008)
-Low down payments
-Flexible Mortgage Rates
-Oversupply

Why 2021 is different:
The current combination of low inventory and high buyer demand means the risk of overbuilding is minimal

Down payments are up
More money down means more equity at the start. Leading up to the market crash in 2008 down payments were low.

More fixed-Rate Mortgages
Before the 2008 Market crash, more buyers gambled with adjustable-rate and fixed-then adjustable-rate mortgages

Buyers with adjustable-Rate
And fixed-then adjustable-rate mortgages
2020: 4% 2007: 15%

Leading Restrictions are tight
It's harder to qualify for a mortgage you can't afford, foreclosure filings were at a 15-year low in February 2020 before pandemic forebearance.

Foreclosure Filings:
March 2008: 234,685
February 2020: 48,004
April 2021: 11,810

Mortgage stats
While mortgage rates are expected to increase slightly, they are still hovering at historic lows making, home ownerships more accessible for many new buyers.

Live in the payment, not the price
For a home that costs $329,100 a 1% decrease in the mortgage rate take $165 off the monthly payment.

What to expect for buyers
In this competitive marketplace, buyers will need to be flexible in order to secure their dream home.
When a buyer knows what to expect, they are set up for a smooth, successful process.

The buying process is taking longer
2021: 96 days
Homes tenured: 14

2020: 91 days
Homes tenured: 13

Top 3 buyer concessions

Buyers are making change to sweeten the deal
1. Higher Down Payments
About $9,000 more per buyer

2. Paying above asking price
34.4% of buyers are paying over asking up from 21.2% in 2020

3. Waiving Contingencies
Like inspection and finance

What to expect for sellers
This is a strong seller's market in all regions. When the home price is right, the process will be quick, so sellers should be prepared

Anticipate multiple offers
Average number of offers a home received in 2021: 5
Average number of offers a home received in 2020: 3.4

Homes Sell Quickly
Average time on the market in 2021: 17 days
Average time on the market in 2020: 27 days

Homeownership: the Best investment

The uncertainty of 2020 demonstrated the tremendous value of homeownership - and the value was reflected in dramatic equity gains.

A system to succeed in any market
More than 80% of all transactions are conducted through a sphere of influence= there is an existing relationship that leads to sales. Buffini & Company members achieve this by working by referral

We featured Brian Buffini's Bold Prediction 2021 Real Estate Market Outlook

What's really going on in the industry today? Buffini covered 3 points to look at.

1. Industry update - What's really happening?

2. Market update with Dr. Lawrence Yun

3. Update your skills - your ability to earn and your connection to learning.

"It's your skills that pay the bills"

The link is posted on our Ruthie Rocks page.

We've talked about some tools and techniques that real estate agents used to close more business in Las Vegas.

What makes you choose a title company over the other? It's all about Relationship. Loni Reed shares why you should choose Driggs title as your partner in your real estate journey! Know more of realtor tips on how to put clients under contract. She also shared some their advanced ways when dealing on clients.

For more inquiries, give her a call:

Loni Reed
Driggs Title Marketing
[email protected]
(623) 533-2636

What are your top 3 goals? What are your constraints-Your Obstacles? Most Importantly - Future proof initiatives.

Las Vegas’ tourism industry is expected to surge back this year from its steep plunge in 2020, but the valley’s economic recovery could stall if it suffers another wave of coronavirus infections

UNLV’s Center for Business and Economic Research predicts that visitor volume in Southern Nevada will climb 57 percent this year and 13.2 percent next year, following its 55.2 percent drop in 2020 after the pandemic kept people home and away from crowds for fear of getting infected.

The center also forecasts that Southern Nevada gambling revenue will rise 35.5 percent this year and 10.7 percent next year after it fell 36.8 percent in 2020, and that hotel and motel occupancy will climb 30.2 percent this year and 12.1 percent next year, following its 46.6 percent drop in 2020.

The pandemic sparked huge job losses nationwide last year. But its fallout was especially severe in casino-heavy Las Vegas, threatening the foundation of the local economy as a place people visit from around the country and world, often by airplane, to stay in huge hotels and eat, drink, gamble, party and network, all in close quarters with masses of others and often indoors.

Las Vegas’ jobless rate, just 3.6 percent in February 2020, skyrocketed to 33.3 percent last April after Gov. Steve Sisolak ordered casinos and other Nevada businesses closed to help contain the virus’s spread.

Listen to it and find out more!

Maximizing your google business page? We've talked about the importance of it especially to
real estate agents and the industry.

You will understand what happens in a google search, how it really work and how can you apply
It on your business.

Jeff guides us on how to register your business on google and explained some tips how to fully
utilize it.

He shares some strategies how to really rank high on the search.

Listen to it and find out more!

People need motivation for something they want

Build your brand in the eyes of the consumer

Yesterday's meal will not satisfy today's appetite. Learn something everyday!

Listen to it and find out more!

"People lose because they want things fast, when life is long"

What is the reason that you're doing all these work? What are your behaviors?

Behavior Always Win! The Market is Booming! Make a simple Start with a 90-day plan,
have your goal set up for the next 90 days and write them down for the rest of the
year as well.

Make your choice and get out of your funk and bad routines.

Get a routine! Get on the groove! Get out of the funk if you're in it.

GET INSPIRED!

Free Father's Day Video downloads in our Ruthie Rocks Group.

Listen to it and find out more!

11 Hilarious real estate agents you need to follow on instagram right now!
By: Eric Simon - The Broke Agent | June 10, 2021

1. Taya Dicario @tayadicario - Her feed is a perfect variety of real estate posts,
Market updates, humor, education, personal hobbies and family life.

Her content is both professional and reliable as she showcases her wins, her losses

2. Matt Lionetti @matt.lionetti - He does a great job at using his passion for music and comedy to promote listings and real estate business. His content has continued to evolve with instagram as his focus shifted to high quality vertical video and reels.

3. Aken Moose Musa @yourfriendlyneighborhoodmoose - He posts a wide variety of content on instagram that includes home improvement tips, wacky marketing promos, rap parodies, and memes.

4. Derrick Gregory @derrickwflrealtor - his instagram strategy has been to go heavy on high quality comedy videos. The goal of a real estate is to stay top of mind and derrick is always at the top of your feed.

5. Dan O Neil @danoneil - built the number one team on Long Island while maintaining a perfectly trimmed beard. He seems to outdo himself with every video, as he can be failing

6. Buffalo Real Estate Lady @buffalorealestatelady - She has a unique instagram where she actually memes herself and put captions above her own pictures and poses.

7. Dan Lee @dan_lee_plum - His instagram is full of high production, fast paced, comedic listing and marketing videos that look like they were shot in Hollywood. One other thing is, his content is that he starts every video off with a quick-hitting joke. He understands that the first three seconds are critical to keep the audience engaged and to continue watching.

8. Byron Lazine @byronlazine - a real estate renaissance man building teams and selling luxury properties in Connecticut. Byron's instagram content is unique in the real estate space because of this podcast clips. He displays his vast real estate knowledge with commentary on the market, opinions on current events, critiques of opinions, brokerage gossips and more.

9. Yackeline Leiderman @yackelineleidermanrealtor - Yackeline memes herself in videos and pictures with real estate captions that make fun of current market conditions and agent-client interactions.

10. Jason Cassity @jason_cassity - He is a luxury realtor in San Diego. He post with purpose and focuses on quality over quantity.

Listen to it and find out more!

Are you really working hard?
Many people brag about working 80-100 hours every week and working harder than everyone else in the room, but they don't put in efforts worth those 80-100 hours.
It's better to work less and be productive for as long as we work because in the end, It's the results that count, not the number of hours.

People getting in funked and they don't know it

The 3 Types of people to surround yourself with

The Dreamer - Its important to have someone who always thinks positive and keeps you believing

The Hard worker - You need someone who will keep pushing your work ethic to new heights.

The Realist - This person will keep you level headed and make sure your thinking deeper into actions

Reminder
"A dream written down with a date becomes a goal, A goal broken down into steps becomes a plan. A plan backed by action, makes your dreams come true..."

Go meet somebody, make their day better.

"People lose because they want things fast, when life is long"

YOU GOT THIS! TAKE ACTION!

Listen and find out more!

"Why aren't you doing this magical recipe for success"
We want to try help people get over whatever it is. Fear? Lack of Self Esteem? Or is it
They don't think it works. What do you think it is?

Showing people on what's going on in our market as giving value

We featured Michelle Bee Bellisari's instagram stories on how you can be more
creative when presenting market stats or databases

Listen to it and find out more!