Episode 62: The Perfect Inventory Storm

- What if real estate is “sold out”?

- Why do we not have enough homes on the market?

- Charlottesville local builder contraction

- Buyers’ and agents’ frustrations in this market

- An amazing note card from Nest’s marketing department

- How’s the market?

- Emotions and winning an offer.

- “Finding the next” is limiting inventory

- Life, birth, divorce, job - why do people move?

- Affordability, home prices, new construction

- Shrinking inventory and availability of land

- Climate change

- Life decisions and real estate

- The market is what it is.

- Nike's inventory, adidas inventory; how will builder inventory respond?

- Generational Shifts

Show Notes

- Mapping segregation - DC

- Mapping prejudice - Minneapolis 

- Mapping inequality - University of Richmond

- Jefferson school of African American history

- Mapping Charlottesville

- Charlottesville never got a redline map?

- What were redline maps?

- Clip to the Amazon show

- 1948 supreme court decision

- Zoning and 1968 Fair Housing Act

- Infrastructure, tree canopy 

- Barbara Brown Wilson & the Equity Center

- Our podcast with Barbara Brown Wilson,  Episode 49: Urban Design, Climate Change, Equity and Resilience

Crowdsourcing Mapping Charlottesville

- At least 500 have logged a single deed

- > 250 people have logged multiple deeds

- HB 788

- Restrictive covenants; certificate of release of certain prohibited covenants. Prohibits a deed containing a restrictive covenant from being recorded on or after July 1, 2020, and provides the form for a Certificate of Release of Certain Prohibited Covenants to be recorded to remove any such restrictive covenant.

- Link to Richmond Sunlight

- The Color of Law

- A relevant Twitter thread about Race and Land Use

Chris Henry is Co-Founder and President of Stony Point Development Group, an award-winning real estate development company driven by creating great places and enhancing lives through the built environment. Stony Point Development Group has executed over $250MM of ground-up development and acquisition of urban mixed-use projects in Virginia, North Carolina and Massachusetts. Chris is active civically in Charlottesville, VA as a member of the Strategic Housing Partnership and the inaugural class of Monticello Young Advisors. Chris was awarded the Christopher Lee Small Businessperson of the Year award by the Charlottesville Chamber of Commerce in 2019. He lives in downtown Charlottesville with his wife, two young children and two labradoodles.

Show Notes:

Dairy Central in Charlottesville 

Stony Point Development Group

How place can impact and enhance lives

Riverside Village

ULI and urban planning

Transit and pedestrian oriented development

Champion Ice House - Craig Hartman & Hunter Smith in Gordonsville, Virginia.

Imagination process

Covid’s accelerating change of retail

Community building and local businesses

Center of Promise at 10th & Page

Niki Simon and Michael Coleman, Nest HQ’s Air Traffic Controller and Marketing and Development Manager, joined Jim and Keith this week. We love talking to Nesters, and Michael and Niki were no exception. Hear how they came to Nest, and how they help build and foster the Nest culture, and how they make Nesters better at what they do.

Show Notes:

- How our marketing department has grown and evolved

- Having one person, one point of contact for agents is invaluable

- Growing marketing from Charlottesville to all Nest offices

- Consistency of onboarding 

- Learning Nest’s marketing tools

- Nest’s Agent Advisory Committee

- How they make Nest agents better at what we do

Olivia Mariani joined Jim and Keith this week to discuss Curbio, a pre-sale renovation company, how they have shifted and adapted due to the pandemic, and how what they offer can benefit buyers, sellers, and Realtors.

- One of the shifts Curbio has made is: They are the finance mechanism, and they are turnkey

- Solution for Realtors and Sellers

- How fast can Curbio turn around a project? Within 3 days

- Curbio + their app reduces turn time by 60%

- Average turnaround time is 4-8 weeks for basic, and 8-12 weeks for a larger project

- How have they grown?

- How have agents and brokerages adopted Curbio’s offering?

- Some of Curbio’s case studies. The one she referenced that yielded $182K profit to the seller

- Farming older neighborhoods?

- Future of their business - rebranding, Realtors cannibalizing the business

- Curbio for buyers

The Nest Realty crew of Jonathan, Keith and Jim talk about proptech in the 2020s. 

- Last week’s podcast with Mike Simonsen

- CoStar - new offer to buy CoreLogic

- Zillow buys ShowingTime

- Rob Hahn’s thoughts on Zillow + ShowingTime

- Zillow’s Flex agent program

- Lone Wolf also on an acquisition spree

- Book: The Innovator’s Dilemma

- Ford Motor Company and Big Data

Mike Simonsen, with Altos Research, joined us for the second time and we discussed the housing crisis, state of the market, interest rates, data points that may signal the market cooldown, and we even touched on housing policy that may address our crisis. There was one number that shocked us; hope you enjoy the show.

Show notes

- Will the market cool?

- What’s the state of our housing crisis?

- Rising interest rates will be the driving force in a potential cooldown

- Will rents drop?

- Altos’ research channel with weekly market updates

- Altos on Calculated Risk

Jonathan and Keith were joined by Jesse Cole, the founder of Fans First Entertainment and owner of the Savannah Bananas, a Coastal Plain League baseball team in Savannah, Georgia. Cole and his teams have welcomed more than a million fans to their ballparks. Jesse has been featured on MSNBC and is a keynote speaker all over the country, promoting the mantra “If it’s normal, do the exact opposite.”

Show notes:

Who is their competition? Other baseball teams? Netflix? Amazon?

What are liquid expectations?

Why we have to always be improving

Game changer was recognizing the difference between marketing and attention

Eliminating friction

Books cited:

Creativity, Inc

Find Your Yellow Tux

Disney’s Land

- Recapping the Nest Summit

- Jesse Cole with the Savannah Bananas

- Savannah Bananas

-NAR’s Chief Economist, Dr. Yun, joined us

- His presentation is here

- New construction material increases and supply chain challenges

- Existing and new construction home sales up

- NAR’s annual homebuyer profile

- Prospect of fewer repeat home sales, and ramifications

- Looking outside traditional box for marketing and experiential inspiration, and the Savannah Bananas’ ownership of the fan experience

- “It doesn’t matter how many customers you have, it’s the matter of fans,” and for Nest, it’s the number of happy clients

- Value of building connections and community

- And momentum

- Look forward to 2021, some new Nest programs and locations

- Big shout out to our amazing Marketing Department!