Real Estate News TV: Recent Episodes

Real Estate News TV

Shana Acquisto and Mike Acquisto, Broker of Acquisto Real Estate discuss the most pressing real estate topics each M-F at 8:45 am central on Acquisto Real Estate TV, a blooming real estate Talk Show. This podcast is all about Hot and Trending topics in the Real Estate Niche.

Ladies and gentlemen, the market is moving, things are happening. And that is our topic.

It changes to clear cooperation and the reporting policy as it relates to that here. Seana, she’s got a quick update for you. It’ll be a quick update.

So, you know, there’s been discussions on, hey, I see this person and they’re marketing their property, they’re showing the the photos of it and they’re telling the city, but they’re not putting that address on there. And we’ve believed that that was acceptable.

Well, it’s not. So the requirement to provide a full address, full address of property when reporting this as a violation has been changed. So now you can report this as a violation. This falls in line with the NA enforcement requirements. They’ve been clear on this the whole time, but I think there was some misunderstandings through networks.

So now they coincide together and it is very clear that you can submit a, you know, a complaint so you can submit a complaint. And they do have to research it. And, you know, you can get fined for marketing a property even though it doesn’t have the address. That’s the that’s the thing to know here. So be careful. We’ve had discussions on this in the past and, you know, is what it is.

So we want to be careful. Nobody wants to find you know, it can be a $5,000 fine. So that’s pretty, pretty steep. So let’s all be careful with that. That’s it.

Thank you, Shana.

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The line. It’s a brand new development in Saudi Arabia and it’s part of their urban development plan. And we’re going to kind of discuss it because it’s super interesting and a little bit unique. It is definitely a huge real estate development and it’s modernizing the way that they do things, and maybe this is the way the future.

I’m really impressed with some of the things that come out of large, big projects, right? When you have a vision and they go ahead and start to execute on it. Yeah, you know, everything’s not always perfect how it works out, but this one in particular is a really grand plan.

So let’s go ahead and share the screen and take a look. So this is the line. It looks like it’s a video game. It does. But this is actually real life. I don’t know.

Why that girl flying in real life.

Yeah, I don’t know about that. But this is what they’re kind of looking for. I have a picture if we scroll down and think maybe just a little bit more.

Right there. All right. So that’s what they’re looking at. So what this is, is a huge line that stretches across the country from one side to the other, trying to get rid of cars. So there’s no cars inside. But it’s a huge structure. And according to the information I have, it’s taller than the Empire State Building.

Wow. Oc Yeah, all self contained and it’s a huge line and it’s like 100 and let’s get some stats on this one. How long it is? It’s 170 kilometers long. So it’s like 100 miles, 100 and some or 105 miles long and it goes all the way through the desert and then inside it has the same climate all the time.

Okay. It will only be 200 meters wide.

Yeah. So it’s narrow and long. It’s all self contained.

High speed rail. Yeah. Oh, now you’re getting interested.

Well how do they. I’m just curious about their water and.

Yeah, no, you can go from one end to the other end. 20 minutes. So everything’s all self contained. You’re within this ecosystem that is the same ideal climate year round. So one of the problems they have there is it’s very warm, right? Yeah. So they’re going to have the ideal climate inside all the time. Yeah, really crazy.

It is crazy. Does it seem real?

No, but it is. They’re actually starting on it and it just has all these things that they’re trying to build in there. So it’s it’s a vision that’s getting carried out by there, by the crown prince of Saudi Arabia. And what they’re trying to do is get this to be the new way it’s gone.

It’s like wanting to live on Mars. It seems like it is like living on Mars.

So it’s just a different way of doing things. But they’re trying to reinvent and have a huge urban plan.

Is this a plan or is this something they’re like, no going on? No, they’re doing.

And they do really ambitious plans.

That’s yeah. And they have a couple of other ones that will go over millions.

We’ll go over it in the near future, you know, some of the other projects that they have going on. But there are large plans and the idea is to change the carbon footprint, to make life a little bit better, to make properties more dense, but then to have more wide open spaces.

So basically everyone lives in a high rise, but then everybody walks, so there’s no commuting. So you can get from one end to the other end in 20 minutes on a high speed rail that goes the whole way. So it’s like perfectly straight. And then imagine that it’s only so wide. So people like live on the side. There’s this middle where it is, but it’s like a whole park through the whole thing.

And you live, work, shop, everything right inside.

Well, they’ve got to control population and if it’s like. It’s 100 miles long, and taller than the Empire State Building. And so it has nature in it and it’s just within this.

So it’s designed to be this like utopia of what’s going on now some of the times that there’s unintended consequences that backlash from stuff like this. Yeah. So they come up with it and they’re like, well, it’s going to be way better for the environment

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50 year mortgage five zero 50 year mortgage considered in the UK. Seana I’ve been a big proponent of finding a way to bring down the cost of home ownership and doing it in a logical way.

This is one of the things that I talked about a long time ago as interest rates were going up and as home prices are going up. So what do you think the UK said now? Well, it was proposed and then quickly they did say no, but they thought about it. So let’s talk about why it would potentially be a thing.

Yeah, it’s too long. But you know, if you think about now 30 year mortgage, it used to be just unfathomable that you would pay off a 30 year mortgage ever. Right. And now you’re seeing people pay off their 30 year mortgages.

Well, that’s just because we’re old. I don’t know if you think about that. All right. So let’s let’s talk our way through it. Okay. The traditional 30 year mortgage has 360 equal payments that you’d pay off over time. Now, what is the average time that a person stays in their home right now?

I don’t know. Well, it’s really 3 to 5 years.

Yeah. And then how often do they refinance it? Very often. So let’s consider this. Imagine that if you have any homeowners that are going to be buying a brand new home or whatever the their next home is, and they buy it now through the next several years. What we expect is that interest rates are going to be higher than they normally would be. And I would bet I would go ahead and say that they would be able to get a better mortgage rate in 2 to 3 years in the future from when they buy it.

So what that means is you’re going to be refinancing it. So they’re going to refinance. They’re like scheduling a refinance because at some point within the 30 years. And I would beg to differ or I would say that if you buy it in the next couple of years, interest rates are on this trajectory going up. And then after they go up, they go down. So then when they go down in interest rates are lower, people refinance.

So right now, it seems like anyone who’s buying a house is scheduling a refinance of their home in a couple of years. So if you do that, why are you trying to accomplish to pay it off in 30 years? Because all you’re doing is having an arbitrarily higher payment amount that you need to pay to the bank. Right. So if it was a 50 year mortgage, it wouldn’t substantially matter because what you do in the beginning is you pay pretty much all interest. Right?

So why not just lower the interest that you’re paying to them? Because you say, I’m going to pay it off in 50 years instead of 30 years knowing that you’re going to be refinancing it in two years.

I mean, it just helps a consumer. It really does.

How does that help the lender? How does it help the lender? Well, I’m not really concerned about helping the lender, but what it does is it allows more people to get approved, to have a lower monthly payment and cost of home ownership on a monthly basis. No. Because you qualify that you qualify people based on.

But then if you do, say, pay it off early, there’s probably going to be no prepayment penalties.

There’s nothing like that anymore. So I just think the 50 year mortgage helps bring down the monthly cost of it. And if you really look at it, homes aren’t going anywhere. Right. I don’t know why here in the US we try to pay it off so quickly.

Because people don’t like to have debt. But imagine to have debt. Sure. I totally understand that. Right. But a house is supposed to be here for a long period of time, you know? I mean.

That’s the other thing are is the quality of the homes such that, you know, I don’t know, definitely 50 years that your home is still.

Yeah, your home is an appreciating asset, meaning it goes up in value over time. So it’s a good asset. There’s no reason that we shouldn’t lengthen the amount of time that you can finance it over. If you consider think about this one in general, you have a depreciating asset in a car, so a car is going to go down. What is the real use

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Senate Bill 1588. There’s quite a few things contained within this to do with H0A, right? But what we’re going to discuss right now is what this has to do with just the fencing component.

We’re going to break it down. So Senate Bill 1588 was passed last year. And it’s it was put forth in a way to regulate highways. It was felt that they had a little bit too much control.

And thanks to realtors, they pushed this agenda and it got passed. So Senate Bill 1588 in whole is new laws for Texas homeowners. And he was right.

So but right now we’re going to discuss just fencing, right. Because there are several items within it and we’ll hit them over the next couple of days.

So, you know, a portion of this is about fencing. We’re going to take fencing out of this and talk about only the fencing. So homeowners anywhere in Texas will be allowed to put up a perimeter fence around their property for added security, front sides and or back of property.

The whole thing. So before who was would regulate and say, hey, you can only have your fences. You know, they regulated the size, the height.

And the materials. You can’t have it all the way up to distance.

Of the home. It can only be, you know, it has to be five feet back. I mean, they had all these specifics regarding fencing, so now they all go away. And the only thing that he was will be able to control is the material of it. So this is for added security. This isn’t for privacy, it’s for security only.

So, okay, so let’s talk about that because it appears like now the front of the property, right. So is what’s in question for the most part.

So that’s that’s really interesting because it specifically states that he was cannot restrict it. So a new fence or gate around the front of the driveway, front yard is allowed.

So can you imagine if around the front yard there’s a fence and say you have a front entry, that you have the gate like we have in the back of our house, we gate off the whole back yard, including our driveway, that if people did that in the front, I think.

Well, now it becomes more European because over there they have a lot of these like perimeter walls they do.

Around their property. You can’t even really see the homes. You can’t see the home at all really. And they have like a ten foot brick wall around their house.

I don’t know that I am all on board for for this. I understand the security part of it, but I don’t know, I guess if they regulate it by material that you can have the iron gate. Right. But I was also thinking about the height. How high can this be? Can it be as tall as your home?

So I do think that they’re city and county guidelines, right. If you are in a not in an unincorporated area, but if you are in the city limits, then you have city guidelines. And I think the cities enforce the height. But there were some subdivisions that said you can only do a six foot fence, not.

In a not an eight foot. It was like so you can almost see in some. That was a weird thing, right? I don’t think people really liked that into the yard. But this isn’t about privacy. This is only addressing security. So you guys just want to and then as it goes on just a little bit more, it talks about things around the pool. And so do you want.

To they’re allowed to install a perimeter fence around their pool, as well as security cameras and motion sensors on the property without prior approval.

So you don’t need approval for that. It’s just the perimeter around their their property that you do still have to seek approval from your HOA for the material only though that’s the only that’s the only input they can, they can give or restriction that they can give. So you can’t put security cameras outside of your property, which I don’t know.

Maybe I don’t know how you would put how you would be allowed to put a camera outside your property.

Well, think about this. What if. Behind our house. We have an alley. Yes. And there’s a little grassy area right there and there’s tree

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Are you interested in reducing CO2 emissions? If so, according to the article. More houses is the solution to this? Yep. So that is Shana Acquisto. And she’s a luxury real estate broker. But the idea here, according to worldwide. Rc So worldwide Rc What do they do, Shana?

So worldwide. Rc is basically they provide relocation services. They’re a mobility company that has mobility partners that help people with their relocation. So so they’re, you know, and this is international. This is global. So they have definitely information on I mean, they have great information because they are relocating people all over the world.

So, yeah. So I’m going to highlight one part of the article here is the average US state has a housing deficit of 79,000 homes. So we are 79,000 homes short.

In each in an average state. So that’s a housing deficit. The shortage has become a national issue and there’s a lot of repercussions. That report finds that building 3.8 million additional homes would help with housing affordability. So if we build all right, so if we break that down, there are 300. I don’t know how many million people live in the country.

Yeah, 300 and some million people. So they’re saying we need another 3.8 million homes. So that means for all the people we’re one they need 1% more housing compared to how many people there are. Right. If there’s 3 million, 300 million people and we need 3.8 million homes.

Right. We have a 1% problem. But when you extrapolate it because not 1%, not people don’t live alone in a home. But it’s a big problem. Right. And it’ll generate a bunch of local revenue because you’ll have more taxation and more stuff.

So they say that’ll generate 7 billion in additional local revenue. So that’s a lot more tax dollars because they say we need more homes.

So what do these people live now?

I don’t know about that, but let’s look at this. And it’ll also reduce CO two emissions by 7.7 billion.

The equivalent of 7.7 billion because they’ll be less miles driven because of all the homes getting built out.

Okay. So they’re saying if you build them closer, I guess, like we talked about.

Well, they’re just saying if you build more, then people will drive less because we’ll be closer to whatever it is. And because there’s not homes in those places, people have to drive further. So I don’t know that I follow all the logic.

But apparently if you have more lacking information. So I’m just reporting.

Now, we talked about a few days ago about the schools. Right. A school district bought a building and housed teachers to keep them closer to work.

So I don’t know. Yeah. The idea here is that when you build more homes that they’ll be all over the place and then people will be driving less, probably marginally less throughout time because everything should be closer.

So right now, if you’re, for example, commuting from Dennis into Dallas, if you built more homes, that maybe there’d be more jobs in Denison, so to speak, and then you would have to live further out because you wouldn’t be able to afford it. And I feel the same thing repeats itself and they might be missing a variable.

Right? And they need then they need the jobs there.

And then it becomes more expensive to live there. Then you move further out because that same person that lives in Denison now can’t afford Denison anymore. Right. And it still becomes a problem. So it doesn’t matter where.

You saw that in Bozeman.

Where do you stop. Yeah, there’s a big issue.

It is interesting how the information is disseminated and. Right. And how you can rationalize something like housing and CO two emissions.

And how they come together and how you can support a claim.

More homes means more people, which means more cars, which I don’t know if that’s cool. So build more homes, it’ll help us.

So it is an article from Worldwide. Rc There’s a bunch more other items that are hit on in this article. Aside from that. But often I just want to compare the hot button i

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Quality tips for working with remote clients. Well, so as the world changes, we have clients that we sometimes have met, have never met.

And and it’s hard. How do you build that connection, that strong connection that you typically get when you meet in person? You’re having to do it.

So let’s go ahead. I ran across an article and it had some good ideas in it and I was like, Let’s look at some of them and see how good these ideas really are and see if we can do that. So I’m going to pull that up and we’re going to take a look here. And they have five ways to build virtual relationships with clients that you’ve never once met. Kind of.

Cool. That’s happened many times.

Yeah, I’ve never met them. And so things are changing, right? And let’s just zoom through these here and pick these up and see what’s going on here. So them cars scrolling down for us here and to use the client’s given choice of communication method. Yeah, because people are different. So talk about that one specifically because.

Well, it’s funny that you think the younger generation likes text, right. But we have young clients right now that in their twenties and they prefer a phone call, they’re like, I really don’t understand this process of buying. There’s a lot of information. Can you just explain it to me over the phone?

Can we please talk over the phone, the text? You know, I just don’t like to to read through text and something like this. And I, I like that I’m a big I like to explain things. And I think a lot of things get mixed up in translation via text and email.

So you’re talking about the phone. I would like to ask a quick question. Take a quick poll.

But you need to ask you need to ask your client what is their preferred method like? What what how do they want to communicate?

Very good. So this question has to do with the phone. So when you call a business, just any business, would you prefer to get a phone tree or a live person answering the phone? This is.

Why we’re. Is this why we’re.

No, you brought it off in this article.

Yeah. So would you prefer a phone tree or a live person when you call a regular business? I totally separate question. I’m just stepping aside here and asking, all right.

This is a for myself, I guess. It’s a poll. I’m going to put it up.

And then we’re going to keep moving on to communicate using their preferred method. Some people like Facebook, some people like to communicate with you through WhatsApp. Some people like to use.

Yeah, I don’t think you should communicate about your real estate transaction through Facebook, but hey.

Hey, it says to use your preferred method.

Okay, so that’s number one. Choose the client’s private messaging. Yeah, they do.

But okay, so give your client a chance to get to know you first. And that does make a lot of sense. So what they’re saying is to have a good online presence and to let them know who you are by being out there. Yeah. In realize what type of impression you’re giving off to people.

Maybe record a little video. I think if you find yourself having more and more clients that are remote virtual meetings, then maybe put together a little video about yourself and and send that out ahead of time. And the more they hear you, the more they see you, the more they’re going to connect.

Yeah. And always keep your agent page up to date at a cost of real estate dot com backslash your first name and on that page you could absolutely send that out but they should get to know you to see pictures of you, videos, past listings, a bio of you, and they can know who you were before. Careful checklists are useful to clients to understand the real estate journey. Some people like checklist being able to like.

I love checklists. Mike doesn’t like checklists.

So all right. So there’s a different way to do it, right? It depends on the person, but a good checklist. So if you find yourself going through things with clients and there’s certain spots, maybe it’s a good time for you to st

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Well, hey there. Paul Foster, I got a question for you. It’s going to be the most often overlooked and costly repair item on a home inspection that buyers often look at. And the question really is like the buyers like ad, don’t worry about that one.

The realtor says, I gotcha. That’s okay. Right. And they kind of overlook it because you’re looking at something else and then it comes back and just like bites them in the butt. All right. Let’s talk about that. What do you feel that one is?

It could be one of several different things. I’m going to say that the grading and drainage away from the home is probably the most overlooked issue.

Grading and drainage.

You know, when you did six inches in every ten feet of drainage away from the home. So we got to have a slope, right? New homes will always have a slope. Older homes, all that slope will go away because there’s all kinds of settlement and all that stuff gets washed down. Right. But we want at least six inches from wood siding from the ground.

We want at least four inches from brick just to keep any of the past, the water. We don’t want water to wick up inside the walls. You know, we want we poles all the way around the brick. We want drip screen all the way around there. Also, just to keep the elements out, you know, to help preserve, you know, extend the life of the home without any issues.

All right. So drainage and grading. Most important and often overlooked, because what that’s going to take is it’s going to take effort. Right. And you’re going have to get out there and you’re have to do something. You’re going to have to somebody’s going to have to, like, sweat, right?

And you’re going to have to. But you’re only going to hire a contractor to come out and do that. But we don’t want a flat surface. We don’t want water pulling next to the home, to the home. We just don’t want those things to cause issues with the foundation.

Once we alleviate all that stuff, then the home will perform as intended. Mm hmm. Sorry. That’s a super good point. Thank you for covering it. Let’s hit the ball and move on.

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Home inspections for investors, investment buyers specifically. This is Paul Foster of Noble Home. Noble Property Inspections. And I’m Mike Acquisto. We’re interviewing him, discussing home inspections from the investment standpoint.

So we were just talking that there is an alarming amount. Well, from my words, I guess an alarming amount of home inspections that are done that are for investors specifically. Right. So in your experience, tell me a little bit more about that.

Well, I mean, I probably do 2 to 3, not 2 to 3 a day. I do at least 1 to 2 a day, four or five days a week, it seemed I seemed more of those than I do individual homebuyers.

So that’s that’s interesting. Right. So what we have is the inspector and you’re saying, hey, the way our business runs and it’s not necessarily reflective of the whole market, but he has one person with his experiences and their business model does have a lot of investors going through it.

Right, for sure. So tell us a little bit about some of the things that they want, some of the things they see, you know, the amount of different investors because you see a lot of different investors as well. Right. It’s not like the same one every time.

Well, when I get the software or when I get the template, I don’t really know who the who the client is. I just go off of their template and we go through the house. We we follow their guidelines and what they want inspected in their photos and so forth. So we go in there and we look at that. We’ll look at the, you know, the condition of the home. It’s basically a lot just like a regular home inspection.

But they want to see other things as well. They want to know the condition of the paint. A lot of cosmetics as in Trek. We don’t really you know, we don’t really prioritize the cosmetics of things because, you know, the paint and general maintenance can take care of a lot of that, but they want to know the structure of the home. We’ve got to get into addicts, of course. We have to look at the foundations, look at the walls.

You know, do they have cracks on the outside? You know, they want to know all these conditions of the home so they know about what they’re going to go in there and spend when they go in there, you know, and put there.

Now, there was something that you were talking about in particular when we were just talking a few minutes ago about the amount of pictures that some of the people want for each room. So talk about that experience just a little bit.

Some of them want just a couple of pictures. Some of them weren’t, you know, anywhere from 12 to 20 pictures per room.

All right. So just think about that for one second, 12 pictures or more per room. So explain that experience.

It just takes a little bit more time. But you want to give them a good idea what each room looks like. So if you go from each corner, you know, take a picture of the opposite side of the room, you’ll get a good idea of what that room looks like. But they would have you take a picture like standing in the corner facing down. And you’re taking a picture there. Then you move to the next corner, the next corner, the next corner. And you’re taking that many pictures in each room, correct? Wow. All right.

So, you know, now we see how investors are evaluating the properties a little bit more and they’re really looking at this report. Right. So sometimes you go through some of these things, you’re like an investor is buying it, like kind of not to worry about anything.

And then you realize that there’s actually a gentleman going out to look at the property like pollen inspecting it, and he’s taking 12 pictures per room. So it’s a very different experience and possibly perception and reality of what’s going on. So that’s kind of the process.

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Hey there, Paul. Let’s talk about costly repair items and specifically possibly the most costly one. We just talked about foundations, and that can be expensive. But there’s others that are potentially more expensive.

You know, in my opinion, I think the roofs are probably the most expensive coming in with the foundation shortly after that and then the heating and air conditioning.

All right. So let’s talk specifically about roof repairs. So most of the time, you know, a lot of people would probably fall into the camp of I’ve never been on my roof at my home. Right. And so I would say most homeowners don’t spend a lot of time up there. So they don’t know the exact condition. They probably would know it if it starts leaking. Right.

That would be no. I mean, you know, water stains on the ceiling. And number one, cause that unless there’s plumbing running across the, you know, the attic.

Yeah. And then right now, a common cause of such problems would be like super extreme heat like we’re experiencing right now. Right? So we have, like 109 degrees that it’s been for a while. That’s not, like, great for the shingles, right? That doesn’t help.

That’s an that’s an honest answer. I can’t I mean, honestly, I can’t really answer that one.

I’ve got a quick pulse cramping up. So but we’re going to we’re going to battle through. I do have a feeling that the heat that that when it hits the roof, it’s not good for the roof because it just bakes the shingles and dries them out and then makes them a little brittle or You know, you don’t want to walk on it when it’s that hot.

You’ve got to be careful what kind of roof you walk on, too. You don’t want to walk on just every roof out there. You want to get up there in the attic and inspect the decking to make sure, no, the decking dropped. And so you don’t fall through when you do walk on the roof.

But then the thing that goes along with the roof repair, right, is I don’t know if I put aside my real estate career and just thought, personally, I don’t know if I know anyone that’s ever paid for their own roof to be replaced. It’s a really weird thing because it seems like it’s always runs into a hail situation and then it’s replaced and you have a deductible.

But I don’t know anyone that’s like, Oh, I just need to replace my roof like right now all of a sudden, and they’re paying out of pocket for it. It’s a weird thing.

I couldn’t imagine it because I mean, that’s that’s a great big expense. I mean, depending on the size of the house, the roof type and what kind of shingles you go with, you’ve got solar on the roof. I mean, the sky’s the limit as far as the roof cost goes.

Have you ever inspected a Tesla roof?

I have not. You have not. All right. I was just. Just wondering. Yeah. All right. Well, there’s no further questions there.

No, I haven’t even I don’t even inspect solar. That’s you know, that’s something that I require them to have somebody else come at that certified to do that.

I don’t want to give them misinformation on it. All right. I’m not educated enough on that yet, so. Well, let’s hit the hit the bell and we’ll move on.

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Did. You know there’s all different types of home inspection software and we have a home inspector with us. Paul is here to discuss the different types of home inspection software and the templates that reside in it. As a real estate broker, I just thought Home Inspector. And then I thought about track the track, home inspection, right? And I never thought anything more about it, but there is more to it.

So, Paul, why don’t you tell us just a little bit? Well, as a Trek inspector, we had to follow guidelines that are set out by Trek, you know, and as for the individual home buyer that we had to follow those guidelines for and we have a sop that we need to follow.

Sop, give me what that would be perfect standard operating procedure.

The when it comes to an investor or a company that purchase homes, you know, we can follow their guideline because that’s what they want to go off of. So that would be the differences between the two.

All right. So now you have this piece of software on the on your device and the company that runs that puts in a bunch of different templates that you could kind of follow. Right. Right. Okay. So tell me, like what some of the templates would be and what some of the processes would be?

Well, some of the templates are, you know, they want pictures of the house in front. From the front. They want to see the neighbor’s house. They want to see what the neighborhood looks like.

They want to know, is it a nice neighborhood or a rundown neighborhood? You know what? They want to know the area they’re buying in. And then from there, they want to know the condition of the house. They want to know the landscaping. They want to see the, you know, the perimeter of the home. So we we go around and take pictures of all that, document everything, and go inside the home and do all that as well.

And then you like touch a lot of things, right? Turn a lot of knobs.

And turn on every light. Turn open and close every door, every door, every cabinet, turn on all the faucets, check all that stuff, make sure all the hearts on the left side, codes on the right. So you do a bunch of different things and everyone do. They prioritize different things in their template. Do you see like, Oh, this person really cares about this?

Or This investor really is worried about this?

Not so much. They’re they’re mostly pretty much pretty close to, you know, very similar very similar to one another. I haven’t noticed anything that’s just really outrageous.

We had to go in there and do cubicles, which is a floor plan where video of the whole home, you know, walk in video that each room, it seems to be something that’s pretty, pretty hot, you know. So we do that as well.

Okay. Well, now everyone knows there’s different software and there’s different templates and each investor kind of has their way of doing it right. And then they follow the template, take all the pictures to all those things and off they go.

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The top seven real estate markets for stability next calendar year. We’re going to take a look at that and see where these markets are calendar year.

For 2023, right. Because what we’ve had is we’ve had growth, we’ve had things go on, we have inflation going on now. We have all these different concerns and sometimes you’re just like, can it be stable for just a minute?

Yeah, right. And what people are nervous about is prices going down, price is going up. They just want to know what’s going on. Right. Right. And so we have the top seven markets.

And I looked through this list and what I saw is this is kind of stayed true for a long time. For years and years.

All right. Well, let’s take a look at some of these on the list.

There were a few that I you know, that may be new players to the game.

So we’re going to skip right down and we’re going to get to code is number ten.

South Dakota.

Not North Dakota. Not South Dakota. Now, they had an appreciation rate of 20%.

That’s a very, very high appreciation rate.

20% it is.

And they have new houses. They have underwater mortgages of roughly 5%. So those are people I’m not sure how, but they’re upside down in their mortgage currently would be really difficult to do when prices are going up 20% to have 5% of them underwater. Don’t really know exactly how that would be.

It’s possibly bad data. I mean, even if you bought the housing, it would be up in value immediately. Right. So how you. Anyways, let’s move on.

Nine number nine, South Carolina, I’ve been hearing more people purchasing there.

They’re up 21%.

Yeah. All right. There’s a lot of there’s new construction, it says. But Arizona so Arizona has always been one of those states that, you know, they’ve seen a lot of appreciation, but it’s also remained stable.

Our 7% appreciation.

In that’s a lot 27.

And then imagine that.

Look at their their mortgage their I guess they call them underwater mortgages 1.4 and that’s pretty low.

Well, yeah, if you’re going up 27%, it’d be extremely difficult to be behind on it.

Number seven, Vermont, Vermont, new residents. What did it say? People are moving there to escape from the big cities. Got it. Tennessee, we’ve heard all about Tennessee. The Nashville area is booming. Second strongest overall economy in the nation.

Wow. 24%.

They’re crazy.

Those are big numbers on what these properties are up in value, right?

They’re on average, they’ve all been over 20%. Right.

Idaho, we know that. Gosh, there’s not even anywhere for four people to build their.

27%. Wow. Foreclosure rate, one in 6000 homes, underwater mortgages, 1.6. And the best state of all, Texas, that’s awesome. So 19%.

So I think it has the lowest appreciation rate on the whole list.Which I have no problem with that.

Okay. So think about that for just a second. If you think prices are crazy here, right, and you have to look on a relative index of what it is compared to others, I think everywhere else has been higher on the list so far. Yeah, this has been by far the lowest.

So if you’re worried about a price reset to the negative side, you’re going to have the smallest amount of that here compared to other places because it’s only went up so much. Yeah, I’ll take 19%. It’s a great appreciation rate, right? I have no problem with that.

Always remains been stable and I think we’ll remain stable. Yeah. Florida. Florida is number three, 25%. Pretty high.

Yeah, it totally is. All right. Let’s get to Washington.

Washington, 20%. It’s crazy. Economy number.

Three Utah. Do you guys know who Shaun Bradley is?

27%.

Shaun Bradley lives moved to Utah. Oh, yeah, Utah. Yeah. He was a client of one of my realtor friends.

Yeah. And starts per 1000 is 12.2. Our 12.2. So they have a lot of new homes being built there in Utah. If we could scroll back up and let’s see where Texas is on new housing starts, because that’s an important thing. Our population continues to grow.

And Texas, we’re at 8.9% or 8

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Hey there, McKinney. You guys need some more roads, and I think we’re going to get them that Shana Acquisto and she’s super excited about new roads, aren’t you?

I am so excited. And I always love a great infrastructure project.

So let’s go ahead and talk about it. We have an article to share. And we’ll get to it. So tell me, Shana.

So, you know, McKinney is growing and I think that they’re really putting in a lot of effort and thought into making it better than maybe other cities like they’re trying to doing all of this to attract businesses and show them that, hey, it’s easy to get from A to B and they’re really investing in that.

So I think they might have been a little behind the curve.

I think they were they were behind the curve for a change for many reasons. They have a lot of land in their property or within the city. And that makes it that makes it a little difficult.

And on a sidebar note, I want you guys, if you see right here, if you stop for a second on the car, there’s a link to the city council meeting that happened in June. I encourage you guys, wherever you live, whatever city that you live in, is to check the agendas every month when they have a city council meeting and see what’s on.

There could be things that directly affect where you live, maybe some things being developed behind your neighborhood, or you see some type of change or topic of interest. And that way you keep up, you know, you keep up with what’s happening in your community, but you can always find it there.

That’s where it starts. Everything has to go through the approval of the city council. So I think it’s really good to at the very least just glance through the agendas each time.

Yeah. So McKinney has partnered with some of their different local places and they plan on contributing up to 150, 150 to $300 million for new roads. And it doesn’t say the exact time frame for that, but they’re trying and they’re making a commitment to roads. And I think that’s important. Right. Because as you put those through streets in. Yeah, then you’re going to do better off.

And the upkeep I mean, the upkeep of these roads, too, I was driving, I don’t know when it was, but I was driving out in I think it was Irving like out in that area and it was like, man, the roads are so bad, potholes. And I don’t know, I think it makes a difference.

Oh, no, it definitely does. So Omaha did show me the time frame. It looks like it’s a what is it, a 15 year time frame to put this money to work. And it looks like 150 to $300 million. So we’re looking at $10 Million a year ish. That’s going to go towards new roads. And that’s great. You know, anytime you can get those totally all for it.

So interesting to see where and it’ll definitely help growth for sure. Definitely. And attract businesses. It does. There you go.

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8 worst states for infrastructure

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aquor - outdoor watering improved

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999 type it in your phone and if you hit enter, what would happen? Don’t do it right this second, but do you know what would happen? Well, if you are broke down on the side of the road on any one of the toll roads in town on a Dallas North Tollway, then you hit pound nine, nine, nine, and they will come and get your butt out of that sticky situation to keep traffic moving.

Now, they’re not going to like totally fix the problem, but they’re going to help you and get you off the road and get you into a parking lot and make sure that you’re safe. And then you can make an informed decision on what to do because there’s a couple of seconds when your car has a problem, when you’re on the side of the road and you’ve got to say, Hey, what do I do now?

Well, now you know exactly what to do.

Nine, nine, nine. From your phone hit enter and you should be good. They will come really quickly and the guy be like, Wow, no one ever calls this number. And then for free, they’ll take care of your situation. Now, the reason I bring this up is because the other day I was driving back from Destin and I was like, holy cow, there’s a ton of cars on the side of the road. And I didn’t realize why.

I was like, Man, that’s a lot of cars. I just been seeing so many cars. And then I remember that the heat, it’s super hot right now and the heat is a problem. So let’s go ahead and share the screen and show what’s going on here. So that’s the exact thing. You may recognize this little sign or poster or advertisement that they have. You probably seen it a couple of different places and not paid any attention to it.

But now that we bring awareness to it, maybe it does help you out at some point in the future. But the reason that we have all the issues there is because it’s so hot that you have battery problems and then you know, we start to run and stuff like that. So the extreme heat and the extreme cold do have problems for batteries. Well, imagine if your whole car only ran on batteries. Hmm.

I don’t know. Kind of weird. So is there a potential issue for cars that run only on batteries in extreme heat or extreme cold? And does that present a problem? I don’t know if you went out and made an investment in a battery powered car.

We’ll find out in several years how that all works out. You may want to leave it inside the garage. I’m sure there’s something to that as opposed to leaving it outside. And if you drove it to work every single day and left it outside and put it in a charger because you got free charging, but then actually the heat of the summer drained your batteries or warm out faster.

Does that even make sense? I don’t know. Those are all different things that I’m just reporting to you. That’s all I got.

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DIY mosquito repair. Are you into that? Well, it’s not mosquito repair. Mosquito treatment. So we can treat and prevent mosquitoes at your property. So DIY or do it yourself. And mosquitoes. We’d prefer to have none, right? We’re now in the hotter part of the summer. It’s nice to get out when it cools down a bit in the late afternoon or early evening and all of a sudden we have mosquitoes out and about all over the place and it becomes a problem.

There’s a few ways to handle this, and we’re going to look at some in which you can do it yourself. Let’s share the screen here on the car and see what we got. I’m going to take control here and show you. We’ll show you some different backpack sprayers and figures that they present to you if you want to take care of this at your own property.

So there are several different versions of this. They vary in price and they go up and down based on quality and what they necessarily do. But if you’re looking in general for your home, you would probably go with some type of fogger along this line. And at $490, you’re going to get yourself a fogger that can handle the stuff right up in the top and you can use this and spray and hopefully help take care of the mosquitoes around the place on your own. So this would be hiring somebody to this service.

You just simply pour the concentrate in here, add the water and go around and spray. Maybe you wouldn’t inhale the stuff yourself and you’d fog it and it comes out not as a spray. So this one comes out as a spray. If you’re using this backpack sprayer in this type of thing, you pump it on the side and you’d spray it specifically onto something. But if you get the fogger that’s going to release it.

Like, I just like that it’s not a third time, I’m only doing it twice. And if you use that, you’re going to cover a bigger area and you’d keep them out and it would stick to more things and it would be, you know, dissipated in such a way. So there are different price ones that go up and those ones would handle granular. So like some type of powders or other things like that you’re trying to spray in addition to the to the items that are liquid based.

So there’s different applications for it. Now, these also have crossover applications. So you’re thinking mosquitoes are not my biggest problem, but they are annoying and I can pay somebody, I don’t know, 75 or $100 to come over and spray for mosquitoes for me. And it’ll solve my problem for a month or something like that. If you want a permanent solution and you are interested in getting involved yourself and this is something that you could look at to control it on your own as you desire.

You might also be able to take care of other things like fertilization and stuff along those lines yourself as well. If you are looking for a place that you would be able to take care of this yourself and where you could buy this stuff, then you could go to DIY mosquito, DIY pest control, and they have a website there. They have some offices around town. They have one I know McKinney in 380 and 75, and then there’s one down in Plano.

I think they have three locations. They’ll come out and do it for you, or you can go there and buy the buy the concentrate and dilute it and then go ahead and apply it yourself. They’re very knowledgeable and super helpful and I would highly recommend them. If you want to go out there and test it out yourself and see how those types of things go. But you could take care of your fertilization, you could take care of your tree insecticides and, you know, give them all type of fertilizers.

And then, of course, you could take care of your mosquitoes as well. So maybe this helped you out. And here’s a slightly different way to do it. These were also used as backpack sprayers for when the virus was around to sanitize and clean things up. So if you have concerns with anything about that and it could be used for additional applications as well. Ladies and gentlemen, that concludes us with that t

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Institutional investor in its own. How many homes? Well, that’s a good question. And we’re going to discuss it right now to figure out exactly what that number is and who is nervous about it. Exactly. And why are they nervous? So let’s talk about this. We live in a free market society and we’re all about capitalism. And there’s ways to make money and there’s good investments and bad investments.

And all of a sudden, we have institutional investors that are investing in residential real estate, which previously, for the most part, had been where individuals would buy their own homes. And now we have this whole group of people that are buying homes in bulk because they feel they’re good investments.

Well, I guess that should make you very happy, because if large, wealthy, well thought out investments are going into the same thing, that is our industry, then it’s surely a good long term investment, right?

So that’s going on now. So flatter yourself because that is happening and let’s take a look at how many of their they actually have. So Inman is reporting to us that Congress targets investors and asks, where of all the homes gone at 280,000 is a number that are single family homes that are owned to be rented. So I believe this is the number of total homes in the city of Chicago. So if we were to think about it, there’s a lot of states in the union, there’s a lot of cities within each state.

And in particular, Chicago is a large city and there are 280,000 homes, all owned by institutional investors. So is it a huge amount? I don’t really think it’s a big amount compared to the all of the homes in the country. And people are looking for legislation to limit the amount of these that goes on. So why is it a problem? Well, because when you have a a market in which normally it’s one person owns one home.

Right. And now all of a sudden you have somebody that owns a bunch of them, then they could manipulate the market possibly. But I don’t know that they can become market makers and do certain things without, you know, without it really actually making financial sense. It is possible if they have a ton of homes in concentrated areas, that would be an issue.

So overall, I don’t have a problem with the total number across the whole country. Right. I think it’s almost irrelevant. But if they are highly concentrated in precise areas and they own, you know, 5% of the homes in a particular subdivision or 20% in a whole city or something like that, like just like an absurd amount.

Then they could start to control what’s going on there. But I don’t think that this number approaches anyone of those. But we do have to watch out for it looking forward, because that could become an issue if more of this becomes proliferated. And all of a sudden, if this number goes up by ten times or 100 times the number, then we could be looking at a situation where we have some type of imbalance within what’s going on. So, you know, that’s that a lot of homes owned and now we know exactly how many.

We do have a link directly to the article and we can kind of talk through how big of an issue it is. I personally I’m thinking it’s not a huge issue unless the concentration, like I said. So that’s about that. I think we have bigger fish to fry than that one specifically. And I think we kind of understand that real estate is a good investment. So there you go. I’ve covered.

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1% interest rate hike. Is that going to happen here in July? I’m not sure, but I think it probably should. Let’s talk about what’s going on here with the economy. Let’s talk about inflation roaring out of control. It’s just like crazy on fire. And we have to raise interest rates so you can rein it back in a little bit.

Right. So let’s kind of talk about some of the big picture things that are going on. And if we just look at like the whole world economy and the things that are currently going on. So we have inflation, inflation’s high and it continues to be high. And they’ve tried to reduce it by doing all these different measures like raising interest rates. And they raised it more than expected in kind of like a lot. And did it change anything?

I don’t know. Inflation seemed to be out of control again when they reported the the most recent number. I think there’s a lot of people that are kind of scared about this. So why is that important? Well, it’s important because if you have inflationary times, then what you have are your current money is essentially worth less if you do nothing. Right. So let’s assume that you have $1,000,000 just like sitting here.

And that’s just like a round simple number. But you’ve got $1,000,000 sitting here on this plate. If you do nothing with it and you wait one year and money now is worth 10% less.

If inflation runs at 10%. So now you have that same million dollars, but it only has the borrowing power or the buying power of 10% less than it had last year. But mathematically, because inflation goes up, it’s actually a little bit less. You might have 89%.

So now you have that, but you don’t go from 10% inflation to zero. Right. Or back to some type of normal number, like 2% that they really want. You’re going to go like a number like ten, eight, five, three. Maybe you will get there. Well, add all those numbers up, but add them on top of each other and see what that number is.

And suddenly you look at it like, holy cow, no matter what they do, it’s going to be 30% inflation total over the next X amount of years. Right. When you add in compound an increase on things and then realize we’ve already had some. So now you look at it, you’re like, wow. So the reason that that’s an issue is because it forces people to be active. You have to do something with your money.

You can’t sit there and hold on to it. It’s like this analogy all the time that I talked about is if you love the beach and you go to the beach and you pick up a handful of sand and you’re like, I love this. I’m going to squeeze it. I’m going to hold it. I’m going to do nothing. But like, I want this memory and you squeeze onto it, and then suddenly you look up and it’s all gone. That’s the same type of thing with money, if you just hold it is during these inflationary times.

If you do nothing, nothing at all, then what happens is you have less. So people are forced to do things. So to get this under control, what they’re trying to do is slow down the economy.

And to do that, they’re raising interest rates. Well, they’re raising interest rates relatively quickly because they realize they can’t get this under control.

So we have a couple of large things going on. Some of the larger things is the dollar is now strong. So the dollar compared to other currencies, it just keeps gaining on them. So we’re now back to near parity with the euro. So check that out and take a look. But like $1 equals pretty much €1 now. Right.

So they’re like they’re equivalent. Well, for a long time, I think it’s been 20 years since they were at parity. And it looks like the euro is going down even more. I might say it goes down to like 9.92 and goes the other way. And it’s because here in the US we have a strong economy.

We’re doing the things that we need to do to get inflation under control. We can talk about did we do it quick enough and are they doing enough to do it? I don’t know. But I’m just saying that we do have inflation and we’re tightenin

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Electric vehicles. Does this change real estate? Is it similar to the railroads when they went through the country? We’re putting together this new charging system. Right. And GM just announced this, that they’re putting a network of chargers all across the country.

We’re going to talk about how many and how it could change things. Does it change it similar to how, you know, we had the the virus and that changed everything on where people wanted to live. But if all of a sudden there’s charging stations for different things in different places similar to how the railroads were. Does this change it? So let’s go ahead and take a look at this article that was recently published as we look into it.

This is like a large infrastructure thing, not this one per se, but the whole overall thing. So let’s talk about this. General Motors will plans to build a network of EV fast chargers at pilot travel centers along US highways. In total, they will charge there will be about 2000 in total and they’ll open up and they’ll be a pilot and flying j locations and they’re going to be at 500 locations nationwide.

Okay. So is this news? Is it big news? Let’s kind of talk about this. So what this means is 500 pilot and flying. Js So think about pilot and flying. Js And where you would normally see them. So you got that in your mind and then think about 500 and then realize that there’s 50 states in the union. So it’s ten charging stations per state. Then think about that and then name the top cities in your state.

Now realize how many that is. And then think about you just named how many cities, and I said there was ten per state and then add it up and then go divide the numbers. And how many charging stations is that per city? And then realize you only said like four cities at the most and then realize, whoa, that’s not really many. Then think about how many gas stations you pass every single day.

Think about that number and then think about how many pumps are at each one. So now you got that number in your head. Then take those two numbers and multiply them out and think about how many pumps that is. So like every single day you’ll see a gas station on one side of the street and one on the other side. And then they’ll be like, what? Every couple of miles will be gas stations all over the place.

And they’ll all have, what, eight pumps? Ten pumps, 1216 pumps. It’s just crazy. And then think about how long it takes to charge an EV vehicle versus how long it takes to charge to fill up your gas tank and then realize you probably need like three times the amount of chargers as you need gas pumps to do the same equivalent thing because they charge slower than gas pumps and then realize like, huh, that’s weird. Okay. Well, anyways, so that gets us back. So is that huge news?

Maybe not. Is it a start? Yes, that that would be great, right? It’s a good start. But what I was looking at is, does it change real estate? So if we kind of talk about that for just a moment and you think about I don’t know why I like large infrastructure projects. We think through history and we think about things like when our highway system was built and we put a ton of money out there and we’re like, Let’s build this national highway system to connect everybody together.

And that was super impressive, right? And I like those big infrastructure projects. Then we had things like, let’s build a railroad all the way across our country. Let’s put in a huge oil pipeline. Let’s do you know, before we had a canal system that we used to have and in New York, because that was important. So there was all these interconnected things and now we’re building this totally new infrastructure project.

Now, this is like one tiny piece of it, but we’re going to need to have a lot more. And how does it change it? I like to think back about how the railroads really did change what was going on across the country. And they made cities and it was super important if you got a railroad in your ci

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Hey, Texas, your power grid. It’s like all on its own. And did it crash?

No. But according to this, that is really cool information. I hope you guys don’t get so mesmerized by it that you are not productive in your day. But own car is going to pull over here. There is a ERCOT graph that you can watch how the supply and demand is working of our power.

So I’m going to go ahead and take control of this for just a second and show what we’re looking at here. So what this shows over here is the capacity. There’s committed capacity, and then there’s Quickstart capacity and demand. And yesterday there was a time here in the afternoon where it got really crazy. So I’m going to see if I can go back to yesterday and get to where that was. There’s like a previous day.

At 3:00 in the afternoon. It was very close. Yeah. Power was going to just.

It was insane. Maybe I need to go back. I was on it yesterday.

So we’re trying to rush and get all of our work done just in case. I know. But this, anyway, shows what’s going on. Yeah. And yesterday it got really it was inverted where the lines were on the wrong side.

It’s like. Wow, we got up to a point where we were expected to have 82 watt for our demand and we couldn’t get up that high with the capacity. And luckily everything worked out because people conserved. We’re supposed to get our really close temperature up and maybe that saved it.

So this link will be in the description. You can take a look at it and see what’s going on here and it tells you if you should conserve and when you should or when you should not and what’s going on there. But this is a real problem for us. It is. So if we really talk about this and we go back and we just say, why is this important from a real estate perspective? Yeah, right.

So you’re going to get a lot of questions about what in the world is Texas doing with their power grid? Why is this a problem? How are we letting it be a problem? How did this happen in the summer after it almost happened in the winter? How dangerous is it if it happens in the summer? So in the winter things freeze like the pipes, but people most likely work out right and it ends up being kind of okay in the winter, as odd as that is. But in the summer, you can’t get out of the heat.

Well, it just keeps going. You do have other methods.

It’s really to stay a little warmer. You can put a blanket on. But in the summer, if you don’t have power, you can’t even turn on a fan.

So I’m not sure which one is more deadly. Right. If your power went out for as long in the summer as it did in the winter, it would be very dangerous for people. It is when it’s as hot as it is. So it’s a problem and you’re going to be asked by people. And I think the demand for things like which, you know, does the power go out in this property when there’s a problem?

Is it on a hospital grid or extra protections or do you have something like a backup generator? And I think those things are going to become increasingly more important.

Yeah, I agree. There’s a lot of people still moving to Texas. And if they don’t make a change, I don’t I mean, it’s just putting a lot more stress on the grid. So at some point we’re going to have a problem if they don’t fix it.

Yeah. So there needs to be a real solution to this problem and hopefully we get there. But from a real estate perspective, the grid is definitely a concern and the basics behind it is in Texas we do have our own power grid. We’re not connected to the rest of the country because we always believe that we’re like independent and free, like can’t rain us in and we’re. Yeah, it might need to let go of a couple of things.

Well, or just make our power grid better, just like totally operating.

I mean, look, we’ve known about the amount of people moving to Texas and the, you know, the strain on the grid for years.

I mean, imagine all this money that we should have coming in. In theory, because oil prices are high. Is there anything better to spend it on, as

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What? Oh. Mortgage industry leader lays off 75% of people and their office is in Plano. So we’re going to show some of this information off here. 70, 86, 70, 76% of their workforce. So we’re going to go ahead and share the screen and give you some information. Non QM lender fires three quarters of their workforce. All right. And so they’re trying to get ready for what they think is going on first.

Guardian Mortgage is the name of the company. They are headquartered in Plano. So I’ll bring this up to you because it is local and it is real estate related. Now a non QM loan also could be known as a business owner loan and they just laid off 76% of their workforce to try to help things out. So they are ready for a correction.

Right. So they said they’re having a hard time getting funding, right?

Yes, they are having a hard time getting funding. And it’s they expect to have some losses and what’s going on. And people don’t know exactly where we’re going with the economy. And they preemptively had, you know, operating losses and cash flow challenges.

So by the way, we had a guy yesterday that did this exact loan.

We actually put him in touch with a lender on Sunday.

Yes. Who was a previous TMT guest who specializes in business owner loans.

We were working a deal and kind of got in a crunch and called him and he picked up the phone on a Sunday night, Sunday night after 7 p.m.. And I mean, it was kind of incredible. So now we turned that frown upside down and got our deal.

This is one of the problems with the mortgage industry is if you work for a big lender, they do typically hire a lot of people during different times and then they fire a lot of people when rates go up. So their hiring would be related to lower interest rates and they’re firing would be related to higher interest rates. And it’s kind of a thing, right? And it’s cyclical on how it works.

Tough place to have a job where your job is based on the interest rate, not how you’re doing. Right. And so what kind of happens is people are like, well, if we’re quick to fire and we lay everybody off, then we can be around for when interest rates go back down. And then when all the people refinance, we’ll just bring all the people back, right? We’ll find new people. I don’t know if that’s the right way to do it or what goes on or how you should be conducting your business. I’m just reporting.

Yeah. What kind of goes on. So there are some people that have been laid off. If any one of you guys know those people, I don’t know what to say. Right. Like condolences, but the economy is good and you should be able to find something. You might almost be happy that it happened quickly so they can bounce back and find something else, right?

While everything is still as hot. As it is a sign of things to come. Maybe that you know, of. Of our stabilization and market correction, you know, you might see more of this.

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If you’d like to dig at your property, pick up the phone and call Shana now or 811. Yes. So 811 is a number that you would call if you do want to dig it all. And you think you know your property well, but you often don’t.

But you don’t always know those. We talked previously about the sewer lines. You need to you need to make sure before you dig to call and they will come out and do.

What like really quickly. Really fast.

It’s shocking how quick they are. You call and I actually did this on the website, so we’re going to go over here and show them off their website in particular. And you want to dig. Right. So you just click on that button, I want to dig and then you tell them what you want to do.

Yeah. And then once you do that, you fill out some quick paperwork and then the paperwork that you fill out basically says what you want to do. You’re a homeowner. What you what you intend to do, where you intend to do it. You give them some information and then immediately, boom, it gets sent out to a ton of people and all the different services.

Look up and see the utility contractors. Anyone looks up that has some something related to your property, whether it’s gas, water, sewer, electric, telecom, and they come out and mark all of the lines for you. So you know exactly where they are. And when I say, like immediately I was, I put it in and like an hour later I got a call from the gas guy. He’s like, I’m at your property. And I’m like, What? And I just could not believe how quick they got there.

Yeah, that’s good. Yeah, that’s awesome.

So that is how quick that is. The water, I think took til the next day. There was no other utilities there that were in in and around that place. But they mark them out. They talk to you about what you plan on doing, how you plan on doing it and where it’s going to be.

They Oh, that’s good right there. If we look at the colors, if we scroll down just a touch, what we have are different colors that they mark everything. So the paints a different color for each particular one for what it happens to be. So now you know where those lines are. So when you dig, you don’t hit them.

That’s kind of it. You might be doing this for a tree root. Barriers for foundation, barriers for putting in a new fence, for some type of landscaping, for digging up bushes, whatever it is, right? Oh, yeah, cool. Especially they’ll definitely call on that. But there’s all types of reasons that you may dig in your yard and there’s all types of reasons to also dial 811.

Shana, how do you feel about that? I feel that was great. You do? Yeah. On the web or on a call. Doesn’t matter. They’ll take care of it all.

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Foundation problems suck, and we don’t want you to have them. So what we want to do is talk about root.

Barriers for your foundation and for trees. And it’s not too late to do root barrier after the fact. So we’re going to discuss that one. Yeah. And then we’re also going to discuss just because it is insanely hot out right now.

Yeah, we’re going to discuss watering your foundation a little bit more and some expert tips become.

All right. So that’s what we’re doing. Do you want to go first? Yeah, let’s go ahead and share the screen here, Omar, if we could, and show you some area right here.

Does Well, the idea of the root barrier is it stops the roots from going any further.

How does that happen? It just acts like a barrier showing it stops it right in its track. So right on the screen, you can see this product here in particular that just like, boom, it’s like a wall. It’s like, no, not going any further. So it’s a fabric material.

And then on the material they have, there’s some stuff, right? It’s supposed to be allegedly totally fine and whatever that is. But it has, I don’t know, some herbicide on it where it doesn’t let it go any further. And you basically see over here how it’s applied and how it’s worked in. You can see that it’s not too far from the foundation or way from that area.

Yeah. It encourages them not to cross that, that barrier. And then you put it in so far down, I can’t remember the exact distance depending on the size of the trees, but it’s like 24 inches, sometimes 36 inches deep. And then what it does, it reroutes them and then it goes down and under it so it doesn’t come up and attack your stuff.

All right. So there’s a couple of different products. This happens to be one of them in particular that you can use. And what it basically just does is draw a line in this and it’s like, no.

So if you guys have trees that are, you know, that are growing rapidly and you start to see. So, for example, in our front yard, we have a border of stone, a stone border enclosing our flower beds. And it started to crack. Right. And the one of the trees was growing and spreading and cracking that. So, you know, it’s a good time to now go in and you can do that after is go in and put that barrier into try to stop any further damage.

Yeah. So if we’re talking about the roots of a tree and each tree is different and how they’re all constructed, but in general, wherever the canopy of the tree is, is where the root system is underneath it. So if you walk out and you have tree limbs over your property, right over the house, then you probably have invasion of roots into your house.

And you probably already know all about foundation problems and about plumbing pipe problems and sewer problems as it relates to this. Yes. So to me, this is one of those things that kind of should be installed when you initially build the property to make sure that you have a good barrier in. So you don’t have this problem later on.

Yeah. And you don’t want to kill trees. I don’t know how if it’s like kiddie property, they’re huge. So I don’t know. So something to think about. I think that would be an added bonus like at when you’re building a home. Yeah. That you just go ahead and add that around your foundation. Be smart.

So think about it. Just go out front your property and walk behind it, walk all around it and see where the trees currently are and see if you need to put a trench in. Now, if you do right, then you’ll be trenching and then putting this material in and then obviously fill in that that dirt back in. But then what you need to do is control for the grade because we talked with an inspector just the other day and he was telling us how the grade away from the property. So if you have your home here how you have to grade the property away.

Away, right. So it does. And there’s a certain slope that it has to be and it has to be up so high on the house, but not too low, because what happens is water comes in along the side of

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ZoomMeetingWithAcquistoRealEstate.com

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Zillow Gone Wild. Content creators love real estate. So there’s all these social media content creators, right? They want to be putting stuff out there all the time and they want to have people following them. One of the big items that they’re using is real estate, and they’re using people’s addiction to real estate. And the fact that people want homes so bad or want something different or do all these things.

Just like another really good example of this are like the home renovation shows and everything that goes along with that, right? And all the TV channels that even come up from all those things, people buying stuff and the DIY craze and everything going on.

How is this for real estate? Right. And the answer is, I believe that almost any publicity or any attention is good attention. I believe that there’s a lot of people that currently are obsessed with real estate and they talk about it all the time.

If you ever go out to the restaurant and you’re just sitting there and you’re talking with whomever you’re talking with, and then you hear some chatter off in the distance, you know how you can, like hear a voice every once in a while you hear somebody saying something and you just listen in for a second because it’s just just kind of hits you, right? And all of a sudden, you’re listening. They’re talking about real estate, too.

And no, it’s probably not appropriate for you to go over and chime in and talk to them about what’s going on in your world as well. But it’s amazing how much people talk about real estate, about the appreciation about what they’ve done, about what they want would like to do, about what their neighbor did, because everybody knows they talk and people gossip. So that’s going to get a lot of discussion.

But let’s go ahead and take a look at this article we have here and we’ll chat that link in for you. Don’t fear the content creators Why Zillow Gone Wild is not bad for real estate agents.

So like I said, almost any publicity is good publicity, right? It’s showing these properties off in a light and people like put themselves on the side and showing off the properties and doing all those types of things right. So we’ll just scan through the article here and we’ll chat it in for you. And I believe the same thing. Anytime that you have publicity on something, it’s going to be good.

The amount of views that are on something is tremendous. If you just log into your emails and think about this and look at how many times somebody’s viewed, clicked, scrolled, or whatever the metrics are for your properties and you see where that happens to be. Maybe it’s on your MLS account, maybe it’s on like Realtor.com, maybe it’s on Zillow. You’ll see how many times it was viewed there and then realize that it also goes out to all the other brokerage websites and how many times is viewed there and how many times it picks up in somebody’s search and how many times it is shared online.

And you look and you see all those shares, all those mentions, all the people that have put an eyeball on it. It’s unbelievable to think about how many people are talking about real estate all the time and how many people are viewing it and scrolling it and wishing and hoping. And it’s just tremendous. So I’m a firm believer in almost any attention is good intention and you should continue continue to have no problems with any of these people doing those things.

I just don’t want them to impersonate real estate agents and say that they’re either the property owner, they need to ask for proper permission to get it done. And you can’t just do stuff. But this is an article here that I think you should take a minute and look through and see the unique social media approaches that people are doing and how it brings attention to it and how it helps them grow their followership. I think these people that you’ll see here will have a lot of different views and a lot of followers.

So if that’s something that you’re after, maybe this is a good i

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Anything needed to let us know? Yellowstone, the TV show, and it has an effect on Montana real estate. We have an article that CNBC, a reputable news authority, recently published on it. So what we’re going to do is pull that up and channel. Oh, yeah, we’ll talk about that afterwards. That’s a future topic there.

All right. So CNBC reports and we’ll chat this in for us. You guys have it here. But it pits Montana, lifelong Montana residents against wealthy newcomers. So apparently there’s a whole bunch of super uber wealthy people moving to Montana to live the rancher lifestyle in a very similar way that it is on the Montana real on on the Yellowstone TV show. So talk about this just a little bit, Seana, as Omkar takes us through this.

Well, you know, we we had firsthand experience of this when, you know, the pandemic, when we were admits amidst the pandemic, we had a client that was supposed to go out of the country for vacation and they couldn’t. So they took their family and decided, you know, we’re going to go to Montana, we’re just going to go to Montana. The Yellowstone TV series was out at the time.

It had just, I think, been released and we had not watched it. So our client went to Montana and, you know, started sending me pictures and then started sending me homes and said, Do you watch the show Yellowstone? You know, and we’re like, no. And Mike says, Oh, he’s totally going to buy. They’re like, No.

Well, as soon as I saw the first couple of episodes, I’m like, Oh yeah, he totally has a bug for this.

And I think, you know, from our experience, we’ve I mean, look at the picture on there and it’s just breathtaking. It’s beautiful. I think there’s just a desire for space. And, you know, you just during that time, I think, you know, there were a lot of pros and cons, but some of the pros is that people were able to get out and look up and really appreciate what’s in front of you.

And this is I mean, it is gorgeous there, right? It’s just absolutely beautiful, surrounded by mountains, Colorado, it’s another place. It’s very it’s beautiful there. But it’s a lot more commercialized, I think, than Montana. You still have a lot of locals that live there. And just as we view people from other states coming here and kind of, you know, moving here and taking over, that’s really the buzz around in Montana that you have so many people moving here and they’re taking up our land. What’s going on?

And I don’t know that it’s really you know, it’s affecting the long time residents of Montana. I know they’re a big fan. But, you know, share people share the land.

Well, there’s just a huge demand, right?

Yeah, there is. In fact, the problem that it’s creating, there are several things to do and a lot of good times to go there during the year. Outdoor life.

Yeah, and people are doing all different types of things. I mean just the scenery is amazing and as it is in Wyoming as well. So we had user from Wyoming chat in as well that they have.

Interesting. Yeah. That they have a person that’s from the show Yellowstone Marshall is the grand marshal of their 4th of July parade. And there’s a lot of people that are showing up as Yellowstone fans.

We might have to. Her hometown in Wyoming. So Wow, that’s awesome.

Yeah.So there you go. That’s pretty cool. So you know this, if you go back to that old car really quick, it was really interesting that this particular gentleman, I don’t know if he’s in real estate or it said the bear tooth group, they take old ranches and restore them.

Yeah, let’s zoom up to that.

And I think, you know, we talk about rehabbing homes here. He’s restoring ranches and, you know, and then sells them. So it’s great, you know, and even here locally, you know, we’ve got we’ve got some land listings right now coming up. And I think that even here locally, not everybody can, you know, move across the country to Montana. So, you know, just understand that there is a desire for that. And if people live in the city a

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Hey there. There’s a ton going on in real estate, and we have some problems, right? We have an inflationary time frame right now and we have got a bunch of different issues. And people are talking about is it a supply side problem or is it a demand side problem in what’s going on? And so we’re going to discuss that from a real estate perspective of what’s going on and what’s going on in the broader economy. Right.

So from an economic standpoint, if I’m to look at it, there’s a supply in demand. And those two things need to be equilibrium to have a stable price. And what that means is there has to be the same amount of supply as there is for demand. And if you’ve taken an economics or as a curve for different prices in different amounts of items to come together and where they cross, right.

That that’s where you happen to be at. So sometimes you’re out of balance and you’ll have too little supply or you’ll have too much demand. And if you change things from price, it’ll affect it or change the amount of supply.

These things will all be out of balance, but we’ve had a big change and with all this reset that we’ve had, we’ve had a lot of supply side problems and that’s what I’ll kind of be discussing here for you and give you some examples of that, right. Of where it became a supply side problem is, you know, scarcity creates hysteria. So if we look at it, toilet paper, if you guys all remember there was a huge, huge run on toilet paper.

And what happened is people ran out and bought it and there was a huge demand for toilet paper. Right. So that’s a classic example of like we demand this and all of a sudden there’s this huge run on toilet paper and I don’t know if it was rational or irrational or what went on there, but I think we all made it through and everyone had enough toilet paper, right? But that was a demand issue. What we have with supply things is our business model has changed for what’s going on for for the whole world economy.

And people have, in the classic sense, gotten so good at what they do. And, you know, I actually kind of blame a company like Walmart that is so good at logistics that they became part of the problem. And what happened there is there used to be, in this classic sense, a manufacturer, a wholesaler and then a retailer and then a consumer.

And this wholesaler in the middle would have goods that would be shipped from this wholesaler directly to them or from the manufacturer to them. So they would hold this stuff and store it and then send it directly to the retail establishments. And they had to have supplies on hand, right?

So they would have things. But what happened is we said we want to get cheaper and better prices and we need to get rid of all inefficiencies in the system. So this wholesaler was essentially eliminated and removed or streamlined dramatically. And we used computers and technologies to go directly from, you know, the manufacturing facility, right. To some type of distribution center.

And they, in theory, want it to go in one door, sort it all out and parse it out to the different locations, and then have it go out the next door like right away and not have storage of these items. And what that essentially does is when any disruption we have right, we no longer have this store of items. And if there’s any problems, if a truck gets delayed, if something is missed, then we don’t get it out in time.

If any of the inputs to make this thing don’t show up to the supplier right, then that’s an issue when it has a problem and as things start to get more expensive, people now demand them because like, hey, to sell this, I have to have all of these inputs.

There’s hundreds of things that go into this. And if I lack one and I have 99 of them, I can’t complete my job or I can’t complete this product to sell. I can’t get a certificate of occupancy for the home, so I need to get that done. So what happens in those cases is you now because there’s a lack of supply, you rush out to bu

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Why not you? Why not me? Why not any of us? So let’s kind of think about this. I’m going to share a couple of things from my wife and myself that kind of inspire us. Right.

And I think lead us to some more success. So what we do from time to time is we’ll go look at things that are interesting that we feel are a little bit beyond our grasp that we kind of can’t reach to right now at this moment, that we don’t think our inner wheel has, that we don’t think that we could currently afford to have earned yet, or whatever that is as motivation.

So the question is, why not you? Why not you? When you’re driving down a road and you see something that you want, why not take just like an extra second to visualize it, right? To pull the car over, to drive in, to talk and to ask and to see and to take a look at that thing that you might want for your family, whatever that happens to be. Right. Whether it’s a new house, a new neighborhood.

And just visualize it. See what’s going on there and see if you could obtain it for yourself. Right. And that’s how you kind of will will achieve it, because you have to realize that all these things are in grasp for somebody. So if that house that you’re kind of like dreaming about that front porch that you want that view, that you want that neighborhood, that you want, that whatever it happens to be.

If it’s just a little out of reach, maybe it’s out of reach just because mentally you think it’s out of reach because it’s there because somebody currently has it. Right. Like it’s getting built with somebody in mind. And why is it not for your family? Right. So a lot of it is mental barriers that we put in place for ourselves and we can achieve it with a good, positive mental outlook. And if you visualize it, then often you can achieve it. All right. So go see it. Put the numbers to it, think about it. And if it’s within reach, then why not for your family, right?

Why not put in whatever that happens to be that little bit of effort, remodel your life to accomplish the goals that are important to you. And sometimes that goal is is a physical thing, like an object that you want, right? Or sometimes it’s a different concept, you know, like for our producer Omkar, it’s to be a traveling nomadic individual. You know, I don’t know the exact name that he likes to go by, but he’s just living this nomadic, wayward lifestyle in all these different places. And that’s something that he he dreams about, right?

So his thing is less tangible, but more tangible because he gets to see things. So just think about what you want and what you would like to accomplish, not just for you, but for your family, and then realize that it is possible and realize that you can accomplish it. And if you want it, then do it.

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So we have wholesale pricing, increasing wholesale price of goods is up 10.8%. Going to cover this really quick. Show you some information on it and let you just digest this one. So this is the most recent information that came out and we have it increasing at 10.8% for wholesale goods.

So wholesale goods are the items that go into making items. Right. So imagine that you are buying you’re building a car, you’re building something that you’re manufacturing putting together. And each of the different components that come into it are now more expensive, right? So you have to now put more money out. You have to have a larger line of credit. You have to have more investment.

You have to try to save in different ways. So you’ll try to buy a different competing component and invest in some technology to substitute a different good because all these prices are going up.

Right? And then as you add all these inputs together, you have to now charge something to somebody else, right? You’re going to sell it. So if your input costs went up 10.8% for the items that all are put together, and now you’re like, I can’t pass that along. And now you’re going to try to substitute for something else that takes investment, innovation, some retooling of a plant of something, right?

Like you’re changing your process. It’s not the same as it was before. Now you’ve also had to make larger investments. So I’m going to argue that as the wholesale cost of your inputs goes up by 10.8% to build whatever this item is, you need to pass this cost along. And I would say that the increase in cost that you’re going to put out to somebody else is going to be more or higher than even the 10.8%, because now you have to have a larger profit margin because you’re spending more money. Right?

There’s a larger investment that’s needed. And so you’re going to raise your your profit margin and you’ve had investment you had to make for all this retooling or whatever it is. So I would argue that you’re going to be raising your prices by 15%, not by 10.8%, maybe 15 or 20% above what they currently were before. So I would look for more and more and more of this to continue to happen and for prices to continue to go up. We don’t have this under control yet.

We still have this supply side problem, and this is just more evidence of it. And I talked about a car kind of in my example here, but it’s the same exact thing for houses. All these input costs are going up. People want to be paid more because they’re doing stuff that they’re selling for more because there’s more money coming in. The ticket price is higher, all these different things.

So labor input costs also go up and you know, with it we have inflationary pressures that still don’t seem to be under control. We do have increases in interest rates coming at us. They’ve already signaled that that’s that’s happening. And so off we go. But ladies and gentlemen, that concludes us for this topic.

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What is the business owners mortgage penalty? And that’s my made up words about what this is, John. Right. But essentially, as a business owner, you’re writing things off on your taxes and you’re taking the correct tax deductions that you should have to lower your income and doing so, you don’t qualify for traditional mortgages.

So in that scenario, you’re going to have a rate adjustment that’s going to be a higher interest rate. And for that, there’s going to be like this offset penalty, but approximately in super broad terms, what kind of interest rate adjustment?

I mean, so it can add we’re typically if you’re conforming, you’re usually about 1% higher to one and a half percent higher, just depending on certain criteria than what a traditional home loan is. So it’s nothing scary.

And, you know, yes, we’ve come in from the days where rates were super, super low and we’ve gone through these new adjustments and so forth. In all reality, when you really do the math on it, Mike, it makes sense to continue to do what you’re doing with your business because the slight difference in the grand scheme of things doesn’t make a huge difference.

Yeah. So like, let’s kind of look through a scenario here and I’m going to even go and say it’s 2% right for an adjustment or two and a half percent, whatever that number is. So if rates are currently at.

Five and 7/8.

So we’re in a round in say 6%. So we’re going to say today’s rates are about 6% for a conforming 30 year fixed loan. And now we’re going to have a rate adjustment of 2%. So now it’s going to be roughly, say, 8%. So now if we look at the mortgage and we do the calculation, we run that back and look at the difference between the two.

That’s what I would consider the penalty that the lender not it’s not you, you’re not doing it. It’s what the market is requiring. But for an individual to buy the home without proper income documentation, that is traditional.

So now this business owner pays that penalty. But the offset for that is.

I mean, it’s it’s it’s again, the offset isn’t that much because yes, it’s a slightly higher payment. Right, slightly higher amount of interest. But if you kind of break down the math a little bit different, where if you were let’s say you’re claiming 300,000 in net income for the year, your tax liability on that is, what, 890 grand or so that you’d probably be paying out the tax. So it takes a lot of interest to make up 90,000 and that’s on one year.

Okay. Know so if you did traditional again. Well, I’ve got to make sure my tax returns and I’m not encouraging anyone to do something different on their taxes. I’m not a CPA. Right. But just looking at it logically and mathematically. Right.

The slight difference in mortgage payment or interest that you’re paying over the term, you know, definitely is in your favor versus paying that full blown of what you showed without doing your deductions that you’re entitled to take and so forth. Yeah. So it really I wouldn’t say there’s much of a penalty for it.

No, it’s a net. It’s a net income. I think it’s a positive. Really, really is.

We did this on a deal. We kind of looked at. Right. It was a $1.9 million home purchase business owner.

So let’s talk about who wants to today write a contract on a property for. 1.9. 9 million.

If so, called John and called three of your favorite business owners. Yes. All right. Keep going.

And we did the math on it, you know, because we’re looking at the, you know, the variance in interest rate. And even as I’m looking and we’re we’ve been in an environment where rates are going up a little bit, the rate was a little bit higher than a traditional deal. Right. And if they had really wanted to qualify for a 1.9, it was actually 1.8999. I’m getting ahead of myself. Yeah. All right.

So so if they would have really wanted to qualify for that, the tax liability that they would have been having been paying over the last couple of years was huge.

Yeah. The amount they hav

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What is a non QM home loan? That’s the question that we’re posing right now. That is John Lutz. He’s going to let us know what it is and tell us why it’s different and who it’s used best for and why you, John, are very, very good at helping out people like this. But how it’s different.

Right. And there’s a huge thing here. It’s really important that people understand. And that’s why I’m begging the agents to kind of tune in here a little different, because you’re going to help business owners 100%.

And this should grow your business because it’s a segment you are likely ignoring. And John swims in this in the exact opposite direction of every other mortgage.

Right. I mean, so, you know, Mike, you hit on a topic there that’s really, really important with that is that this is definitely going to help people grow their business. You know, we’re still in unchartered waters with what the way the market is right now. And you know what a non QM loan is is basically just not a it’s a non traditional type of home loan. We obviously we do our traditional home loans, our our conventional, our jumbos, our FHA, our VA’s everything and we do those extremely well.

But this other this other segment of of home loan that’s out there, I should say, products that are available really need to kind of understand them, get educated on it because it’s a large group of there’s a large amount of people that are that are missing the boat on this. And, you know, as an agent, as a lender, it’s our duty to inform people of loans that they could possibly qualify for.

So again, what a non QM loan is a non traditional type of home loan, pretty much. It’s geared towards a self employed business owner. Yes. It allows alternate forms of income to be used to prove what your what you’re making annually.

I like that. That sounds really good. Yeah. So the big difference is a traditional loan or conforming loan is going to use full documentation, right?

Your traditional two years tax returns, business returns, everything’s signed, sealed, stamped, you know, and this is an alternate way of showing income.

So a person like myself as a business owner, what we’re going to do is we’re going to want to take advantage of every opportunity to write off. Yes, all of our expenses. And if you expense stuff, so you have your income that comes in, but they don’t count your top line income. Right. What you’re going to look at in a traditional mortgage is like, okay, how much did you make? And you’re like, Well, no, really, how much you can make.

1090 tax on it. Correct? Yeah. So now my number comes down, comes down, comes down and not necessarily my number, but all business owners are most likely going to do something similar. Then you get down to this bottom number and you’re like, That’s perfect. My whole goal is to maximize the tax code to make sure that I pay as little in taxes as possible and do it legally and correctly. But I’m going to expense my expenses and then I have a lower income and that’s amazing to pay less in taxes. But then the flip side is it hurts.

By something big, like the home. So I have a challenge. Yes, but these business owners now most likely have something different, like they have equity or cash. Yes. And they need to qualify for mortgage. They still need a place to live.

Correct. So, you know, these programs, Mike, it’s it’s that’s exactly what it’s geared for. Right. You know, as a self-employed business owner, you should be taking advantage of the tax codes. That’s what puts you in a better position to do open other businesses to keep your business thriving. Right?

Yeah. And you shouldn’t be penalized for what the bottom line number was on your tax return. If we’re all able to do it, I think we all would. Yeah. So with, with, with a non QM type program, you know, and it’s not the, the crazy subprime stuff from years past. I mean these are truly qualified type deals. So the so one option, Mike, would be we look at bank statements as incom

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The value of proper irrigation for acreage. Now. My wife’s not here, so she’d probably want to kill me if I show these things off or if they actually get implemented. So we’re going to actually go ahead and do that. So I have a couple of. Different lengths that we’re going to actually pull up here in just a second here and show some stuff off. So we have acreage and Dave and I were sitting around and we’re like, how are we going to possibly water all of this?

So let’s pull up some of this stuff here. And we have we have some big wheel lines that we would like to add across the property and just have them going. Now, they’re not going to be the lines where we actually would go out and move them each morning like some other people might. This would be one that hopefully we would have the line moving and there’d be just some massive wheels on here in a motor, and it would just move from one side of the property to the other side all the way across while watering it.

And for some reason I think this is a good idea. I’m not sure if it is or not, but let me know what you guys think and tell me if my wife would want to kill me if we were irrigating with a monster wheel line and how that would work.

I’m going to show off the second link here for you guys and see what also happens. Oh, Craigslist. Any time that you can start a project by going to Craigslist, it’s going to be successful, in my humble opinion. So I’m super, super interested in this one. So this here is a massive cistern. So I want to get a 6000 gallon tank is $3,500. 8000 gallon tank. Right. I need an even bigger tank. So what?

There we go. 10,000 gallon tank to bury under the ground. I want to pump the water up from the lake into this cistern right there and hold that off. That one’s a premium tank, 6500 and it is 10,000 gallons. Imagine if you saw one of those coming on a truck and it’s bound for your place. Would my wife, like, throw a dart at me or what would happen? I want to put this under the ground and pump the water up, hold it in here, and then use the next link that we have shown off here on car. Perfect.

This is a pump station. And this pump station would spread the water through that through the wheel line. There we go. And you have your own little pump station. This is a Rainbird operation. So this is probably the most pro level of what I’m showing off here today. I can’t even keep a straight face as I’m talking through this. So chat in if this is a yes or a no, but how much is good lawn worth? Right.

So if you want to have green lawn, you have to irrigate it and. I think my wife is all in on this one, so enjoy. I was trying to show off some different things for an irrigation project to you guys, but I think that’s about enough.

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Travis Cobb. So this man here knows Ad Analytics. He’s super detailed, right. And he’s all about structured data points that you can have to reach out to and touch people within the real estate industry. So Travis touches me at different points in the transaction. And what we need to do is talk about some of the things that you that you kind of like to do here.

Yeah. So for me, I’ll be speaking kind of the loan side, but I always I work closely with my agents as far as structuring stuff, making sure we’re staying in the right lanes. And I don’t want to have touch points at the exact same day that you’re doing. We’re both going, Hey, do you got any referrals? Because I work as a team. My CRM keeps track of where the referral source came from. If we get another one from that one. Good, let’s, let’s do it with the team again. Right. Same realtors, same lender.

Makes it that much easier. That’s one of the things they call the force multiplier. When you like both of the people involved, it’s way easier to get friends, family, stay top of mind. So the my touch points are slightly different from what I will advise my realtors to do. But my touch points are as soon as we get the the pre-qualification.

Free fall. You’re you’re approved for X amount, right then. Hey, you know, you got any friends or family thinking about getting it done? Congratulations.

The next point that I do it is as soon as we issue the clear to close with, the paperwork goes out and most realtors are usually asking for referrals around the closing table. So I wait till 30 days after funding because as most women find out, we get follow up calls Hey, where’s my payment going and all that stuff. I have an email that goes out 29 days after closing, so it lets them know all the servicing stuff, gives them all the basics and let to know that I’ll be calling them the next day to go over their questions.

Oh, so you’re telegraphing it, which I like that. And then, you know, I do it 30 days out because after the move it still it’s just a super stressful time and everyone’s life is moving stuff in and that’s enough to kind of have the flow like, Hey, are you enjoying the house yet? Are you still unpacking?

You know, you can just kind of touch base and see how they’re doing and that’s usually where I’ll I’ll ask for another one. I also have great insurance agents that I work with and another touchpoint I put in the CRM is a month before their insurance is due before it goes up. Because we all know you’ve signed up for insurance and had a $50 month payment and then then next year goes and it doubles or triples. Right.

Do you have a favorite goose head insurance agent?

I do. His name is Matthew Palmer. He’s Matthew Palmer. All right. I know Matthew Palmer, a great individual, upstanding man. And I’ve known him since he was in, I don’t know, diapers. I think it was a messy time.

So but yeah, you know, a lot of people are winning industry. They’re competing over ten, $12. So I like to follow up just before then and go, hey, you know, if they if your rates start going up on your homeowner’s insurance, call, Matthew, he can you know, he can shop 20 or 30 different insurance providers and, you know, you can make a $50 change like that. And we do a lot of stuff, a lot of training as loan officers just to try and shave off five or $10 a year by structuring it slightly differently.

So that’s another great touch point. Whenever your loan officer calls you nine months later or ten months after you’ve got in the house and saves you money again, that’s a great time to ask for a referral.

All right. So let me go back to circle back to one last thing that you talked about. And you mentioned a phrase in particular that I think is important to you, but you called it a force multiplier.

So that that’s a unique use of of a different phrase. Right. I don’t call it specifically that, but talk about that concept in general.

So, you know, the most traditional use of it is in the milita

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Hey there, homeowner. Do you have a pool? Hmm. All right. Do you want to rent it? Really? Rent your pool. That’s apparently a thing. So you can rent a pool in somebody’s backyard and go over and have a pool party. And they charge you by the hour. And it actually happens.

It’s a real thing. So what we’re going to do is go ahead and share this link and discuss it for just a minute and see what’s going on here, because it’s hot out and people have a desire. They want to get in the pool and enjoy it, but they don’t want to go to the public pool. They don’t want to go to the neighborhood pool. They want to go to somebody’s backyard and they don’t have one or something’s going on. So let’s go ahead and share this screen and chat in the link to others and here it is.

So this is simply S.W. imply simply. And so you can swim simply swim place. I don’t even know what the heck the name is all about. Not really all that, sure. But if you do want to go ahead and swim in somebody else’s pool and rent it by the hour, then you can go ahead and do it.

So what I’m going to do is chat in or I’m going to type in Frisco and we’re going to do a quick search and see what’s going on. So if you would, let’s type in Frisco, Texas, and see our results here. And if you wanted to go swimming in somebody else’s pool as soon as a couple of days from now, then you can and it’ll cost you $22 an hour for this fine, fine place, $60 an hour if you want to go somewhere else, $50 an hour.

So there’s all these different options on what you can do and what the availability is. And people will rent out their backyard essentially to you. And you can do things like swim laps or dive in the pool or have a bash. I’m not really sure. So it is what it is and this apparently is an option. So it kind of feels like Airbnb or VRBO, but by pool for pools, yes. I have somebody jetting in and talking about liability issues. I have no idea.

I didn’t study this, but I just really looked at it and was like, Wow, that’s crazy. You can rent a pool by the hour and you have a certain amount of people that you can invite over. There’s different options. You can all look at this and we’re going to chat that link in so you have it, but there you go, you can actually do it. And there are listings here locally in our market, ladies and gentlemen.

So whichever side you are on, the pool owner or the non pool owner, you now have a couple of more options for you.

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Real estate photos and data entry. Is this just going to happen all of a sudden with MLS?

It’s going to happen that Shana Acquisto, we’re going to discuss this topic right now and see what’s up. So let’s start in general.

So when we were in D.C., there was a lot of talk about this, this technology that will basically eliminate us from having to put in details into a listing.

All right. I need to hear more. So you’re just going to take the photo and it’s going to be able to scan it and read it and be able to actually input your your data automatically. Okay. So I’m not sure how that will work. Again, I don’t think you can ever replace the human in the real estate transaction and or this.

So let’s let’s look at it. So it takes a picture maybe of like you put a picture in. The other thing that’s going to be super important that I learned is the description. So when you put in your photos and you have a little description at the bottom, you want to be specific on features that you want to highlight because it’s going to read that and put it in as well. So.

Okay, so you’ll type in the features though, I mean or it’ll re it’ll like use artificial intelligence. I mean we’re not using realize that.

It’s stainless steel saying that it’ll be really important that you know, when you have your photos you can go in and add extra features and details that’ll get it more recognition. So.

All right. Well, that’s interesting. So yeah, the article here that we have will go ahead and share that off and we’ll chat this into the description so you have it and I’ll take a look. It’s interesting all the way through this article real quick, so we have a couple more minutes on this topic in general, but the concept is that like it does everything now everything’s a huge word and I don’t really know that’s the case.

I think that. Right. It probably advance us right and do some do some data inputting, but we’re going to have to go in and then, you know, put in the remaining details.

So it’s like it’s going to save you so much time. You can just do like everything else.

So just stop right where we are with photos are going to be through the roof.

Yeah. All right. So it’s just going to allegedly automate some stuff and I don’t really know. Okay. So photos feature metadata that are attached individually to each image.

So metadata is the additional description information within a photo. Right. So so the photo is going to include things like, you know, maybe the address of the property. It’s going to include that it has certain things with it features functions.

And, you know, but I’m not sure. So you could search that because it creates the picture to words. The words become searchable and online.

And I like to believe this.

I mean, you know, I think there’s more to it. Just know this is this is coming. We talked about it after my D.C. trip. And I think, you know, even an actress is looking into this software or this program to be able to implement. So it is interesting. But I don’t know. Like if you do your 3D video, are they going to be able to calculate your the number of rooms, like the number of garage spaces? And I mean, how detailed is this going to be? That’s really crazy, if you think about it.

Well, we shall see. It looks like more technology is coming in. Anything that’s going to save us time is going to be better, but it looks like we don’t have to worry about it. Somebody else is already on.

You know, I see the pros and cons that the pros you eliminate misinformation out there. Right. But again, how can you put schools in and I don’t know.

Well, allegedly where the picture is taken, we’ll have the GPS information and that would be able to do it. And it’s going to allow you to put like the house together virtually of where it’s at because like nowadays a different GPS coordinate than the where the other picture is taken.

Yes. But we know that we are going through this with our in our database is choosing which school the ho

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I got some quick takeaways from a conversation I got to have with the deputy sheriff. So the deputy sheriff is the number two guy? Yep. And we happen to be at Dutch Bro’s on Sunday morning, right. And so we were up there and the place gets so busy that they have people directing traffic.

And from what I understand, it would be people that are off duty directing traffic. And the guy happened to have a sheriff shirt on. Like, I’m going to go talk to the guy. And Sean was like, like, really? So I did.

So I’m going to go ask him if he’s the actual sheriff or get specifics on why he’s wearing this.

Yeah, what’s going on? So I talked I talked with a gentleman and come to find out he was not the actual sheriff, but he was with the sheriff’s department and he was a deputy sheriff. So had a nice guy, very, very nice, had a conversation with them all about it. And the first thing he tried to do was recruit me to work with him.

And he was always recruiting, right? Yeah. And he was like, Oh, you go really enjoy the job and all those things. And I was like, Wait a minute. Yeah. No, I currently have a job. Thank you for the opportunity. And he said they are severely understaffed. Yeah. And they have massive, massive.

Problems with hiring Kerry,

And then he proceeded to tell me a couple of different facts, and he mentioned one of them, and it kind of stuck with me. And, you know, he said that Collin County is currently having an import of Collin County residents, buy 80 new people every single day.

Every day. 365 days a year.

And then I thought about that. So the sheriff covers the whole county, and I was like, Whoa, wait a minute. 365 days, 80 new people every single day. There’s 80 new people coming in. And at the same time, he also mentioned that there are 84 new jobs created every single day, 365 in Collin County. So the jobs are outpacing the jobs are outpacing the people that are coming here.

So effectively, we have a lower unemployment rate every day because of that. And then I thought about the numbers, right? And I just wanted to share that. It’s it’s 30,000 people per year for a sustained amount of time that we’ve had. And it fluctuates a little bit between 80 and 82 and 85 people a day that have came in over the last decade. Collin County, just Collin County, 80 people.

So think about all the homes that that has to be. So I do have some census data and I’ll pull that up and let us take a look at it.

This is actually really good to follow. Yeah. And know where to find this information.

So census data has this at 1.1 million people as of July of 2021. Just had a census.

And then you look at that number and then you add 30,000 people to it at a minimum for this current year to get us to where we are now. And the number might be actually even larger or whatever. But if we take a look back and we look at 2010, you know, roughly ten years ago from this data and it’s seven 8782, that’s a huge growth. Yeah, right. It’s 400,000 people plus in a super short period of time.

So it’s more than so it’s more than 30,000 people per year. And then if we think about that one just for a little bit, so we’ll go back over here and we’ll just talk about that number in particular. So think about the average household and how many people are in an average household. And there’s a lot of people that come in with, you know, on their own. So there’d be one person, right?

Or two is a couple with no kids or whatever. But then there’s kids and whatever. So maybe it’s the average is three people per household, maybe four. But that means that you have to have at least 20 new places every single day. 365. Right. For people to live.

That’s the type of growth that has to happen just to keep up. And then all of a sudden you hear a stat like new building permits have slowed down. Mm hmm. So if new building permits slow down, you can’t slow down too much before all of a sudden.

I mean, that number really catches up with you every single day.

Right. S

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What percentage of homes in 2022 in Dallas and Tarrant County were purchased by investors? This is going to be interactive as well. This topic was brought to you by Stacy Hendren, real estate transaction coordinator, or pretty much my boss here at Acquisto Real Estate. And what percentage of homes was purchased this year so far?

Year to date with investor owned funds, your real estate agents in your active and you’ve seen your buyers compete and you’ve seen cash offers and you’ve seen all these different things. What percentage were bought by investor owned properties? Right.

So as we talk through this and as you guys have a moment to chat this in, what I’m going to say is this is going to give us a challenge to our market. So what’s happening here is as these investors are purchasing the property, they could be small investors that are buying one, two or three properties and doing it as part of their real estate portfolio, like for retirement or something else.

Or it could be institutional investors or foreign investors coming in and purchasing properties so that they don’t have to take the money back to their country and change currencies.

And they think that there’s stability in the US with what’s going on worldwide and for those reasons there’s different types of that it could be. So what percent in your mind right now? The challenge that this also brings up is that how are they going to unload these properties later on or are they going to continue to buy them? The reason that I think this is happening now is because there is this inflection point that we’re at right now, that we’re in this unique situation where inflation is higher than interest rates.

So the institutional investor, the large one, can borrow money at a rate that is less than the rate of inflation. It’s typically reversed. So in doing this, they’re effectively printing money as it’s going up. And I also have talked about the fact that it’s leveraged because you have this rate that you can borrow when you have a loan as opposed to the money you put down. So it’s really magnified this return. Now, the losses will also be magnified if it switches back and flips the other way.

But I was shocked to find out that, ladies and gentlemen, according to Stacey Hendren. And the news source said it was reported from to her. 52%. Of all properties in Dallas and Tarrant County. Year to date have been purchased as investor owned. 52% over half investor owned. Now, I might have to look at this and back some of those numbers out, and I’m not positive on on this number, but I think we are possibly getting some bad data in here.

And I would say that it is closer to a number that Mike Sheppard’s chatting in here and Logan is chatting in. And the reason that I think that the number is actually a little bit less is the bad data is probably accounted for with people who are using cash money to buy it from a business and then later finance it and become a cash buyer. So there are certain programs like Home Lite has one that we’ll be talking about in the near future.

If anybody has a buyer that would like to purchase a home before they sell their current one and they’d like to be turned into a cash buyer. We have a program through Home Lite that you could simply, for a 1% fee, have your borrowers become cash buyers on the new one. I think that would get recorded as a institutional investor or a business buying the property because they are paying cash for it and it’s in the business name and then the property is transferred to yourself once you get this new loan.

So I think that might be giving us some bad data accounting for roughly half of it. So I think that that it’s that number right there. I think it’s probably more 25 and 25 bringing it to like 52. But I’m not sure. So. That’s the number. But regardless, that’s a lot of investors that are owning property. And what it’s doing is these people could be taking the properties and renting them out for Airbnb for short te

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NTREIS news.

Oh, this is exciting. So networks recently had a board meeting and some great things came of it. Fortunately, I didn’t have to go. There was a new a new person that that goes to that meeting and attended that meeting. But it was a four hour meeting.

Four hour? Actually, I think it was 5 hours, but, yeah, it was very long, but some good things come of it, so I want to share that with you.

I’m listening. Okay. So first, we’ve had a lot of talk about showing time. And showing time is our showing concierge, if you will. And they are owned by Zillow. So there’s been a lot of discussion on really do we really need that? What should we do? And, you know, we came across a company named Broker Bay, and I’m going to have Owen Carr slide it over here. And I want to talk about it for a minute because it is approved.

So networks will be implementing broker bay. Not sure of the time frame of that. Probably don’t probably nearly go as fast as you like with them, however it is coming. So we I have sat through I think three presentations from Broker Bay and I like it. There’s a lot of things that it’s that it does. It’s similar to showing time, but a lot of the frustrations that we have with showing time is resolved with Broker Bay. Broker Bay Bay is a carrier product. Product like the air conditioners. Really.

Yes. And they in supra as well super bought them. Oh so are they bought supra. Sorry.

Yeah. So it’s all under one umbrella. So it’s really, it’s really innovative. It’s very user friendly. So when you’re.

Not owned by Zillow. That’s an upgrade.

And there’s a lot of features in there. And I think there’s there will be a lot of features they will offer that will be an upcharge. But once it gets rolled out and we see, you know, how much networks will cover or basically us and our dues, we will see, you know, all the different features that they have and say if there’s anything else we want to add. But it’s really cool. I really like it. I think you guys will like it too.

Okay. Yeah. So some of the different things that so it’s mostly around showing services.

It is, it’s a, it’s a it’s our showing management. But there are it’s not meant to be a place to go search for homes, but it can almost do everything up to that. So it’s really nice if you need to reschedule a home. This is something I found really good. And we’ll put the link in there and you guys can take a minute and and watch their video.

We don’t want to take the time and do it now, but if you have a showing that your back to back showings and this one oh sorry we canceled and you have to at the last minute shift everything it has a very interactive feature that allows you to do that with ease because sometimes you’re in the car, your client’s behind you, you’ve got to call and say, Oops, shift, we’re going somewhere else.

Somebody just canceled and it gets a little crazy. So I think it’s it’s something that will impress your clients. You’re going to love it. It’s going to make your job easier. And I’m happy after a long discussion, months of discussions that was finally approved.

That’s awesome. Yeah. So there’s another I don’t know if you guys ever used. I’m drawing a blank now. It’s our mattress go. Mattress Go was an our mattress app pretty much. I never used it because it was horrible. It did not work or function properly and just didn’t work properly. So they have now implemented it’s called less touch and it’s much better user friendly. So that’s something they’ll be rolling out to.

So we will have a better app for Mattress. I think that is huge. And then there was one other one other item and it’s called RSA, TB, DOT AI. So it’s an artificial intelligence that they’ll be implementing. And we talked about it a little bit before, but it’s something that will be rolled. They out now. And basically what it does is it takes your photos and it scans them and detects all the different features in the homes to make your data input much easier.

So I don

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Well, not everybody is credible. Some people are and some people aren’t. But like not every person’s equal, right? And not every industry or every industry partner is equal. Right. So we have a couple of different issues that Sean is going to bring up.

Yeah. So first thing is, when you’re doing a transaction, you want to make sure the other person, your cooperating broker on the other side is actually licensed. We have actually ran into a few instances this year that the other party, either the agent or the broker, was not licensed. So just because so I just want to touch on that for a minute. So say Mike’s license is expired under a custo real estate. It’s broker to broker.

So you’re still covered, right? In the event that the agent that you’re working directly with, if their license is expired, it’s still brokered a broker. So you’re covered if you’re doing a transaction and the broker and the agent’s license are expired, you don’t have a deal.

So you want to be very, very careful with that. So the cooperating broker named on the transaction must be licensed. That’s the first thing. Yes, that happens. You guys, we are professionals. We must have a license to conduct real estate. So make sure that know.

I think in the busy times that we’re having, maybe we fail to just check. So let’s do that. The other thing, if you see that it isn’t an individual broker or an entity broker, so you know Shana Acquisto or Acquisto real estate, then you need to double check the contract, right? You need to double check who the cooperating broker is just because you have a team name, right? A team name.

A DBA Smith team, yes. Real estate team.

Shepherd team. Right. For example, a DBA of a broker is not the broker. So if you have a DBA, it must be filed with track. So all of these things, Tarek controls all of the licensing, so you can go straight to track, see what’s going on. If you don’t find them, then you need to let us know before you proceed forward with a transaction. So the other thing would be title companies.

There’s a lot of title companies out there and some of these corporate brokers or corporate buyers are requiring as part of the requirements to do the deal is that we must use their title company. So it’s all good, but you need to just protect yourself and double check.

So something that I’ve heard is there’s a couple of title companies out there. I’m not going to say them right now, but I will let our agents know. But they are not employing or taking protective measures to ensure commission payouts are being disbursed to licensed professionals. Licensed brokers.

You’re not double checking this. So what’s happening is maybe that broker supposedly is getting all the commission and then you never get paid. I’ve heard of funding issues that funding’s taking. You know, you close and funding’s taking 48 hours to fund. That’s not cool either, right?

Oh, well, because they’re using the money from the other transaction. Wow, that sounds really bad.

And as we all know, the only person that can distribute funds is the broker to broker. So we have a disbursement authorization. We authorize our funds to be disbursed directly to our agents. So you don’t have to wait. Correct. So that’s what we do. But, you know, you have to be cautious and just do your due diligence, know who you’re working with, ask how these things happen.

You might want to double check with the title company and find out how you disburse, what’s the process right? There was another example of a lender. So in this particular case, the buyer, you there was a corporate owner. They wanted them to use their title company and their lender to get the deal. Similar to how a builder would require us to.

Do that bundle and save. So the loan officer left in the middle of the transaction.

Could see gone. The money was wired to an incorrect title company that was no longer in business, and then it was almost 30 days before anyone got paid on the transaction, including the

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Market shift is happening. Yes, it is mad.

Shana Acquisto. She’s a luxury real estate broker and I’m here helping her out as we kind of walk through and discuss what’s going on with this market shift. We have stats and stuff and we’re going to show, yeah, are you ready?

So when we say market shift, I just want to reiterate something real quick. Doesn’t mean a market crash.

So I think there’s a there’s a huge distinction between the two. But you’re going to have to educate clients and people in general out there, because when they see things happening, although we know it’s a shift, they’re like, Oh, the bottom’s dropping out, everything’s going to crash. And that is not necessarily the case.

No. So you’re talking about how it’s different across the whole country, right? And how it’s different even in our Mlss different. And there’s different pockets all over the place and for different price points as well. Right. So the bottom’s not dropping out.

You just had a property that was that went under contract for a considerable amount more, maybe eight, 10%, 12% above list price and a competitive multi offer situation.

And now we had a lot of showings. It wasn’t as many showings as we’ve seen in the past, and we had multiple offers, but not as many as we’ve seen in the past. And that just goes into what’s happening in the market with higher interest rates and with inflation.

You know, all of this is meant to slow things down and that’s exactly what’s happening. So it’s slowing down, doesn’t mean it’s crashing. It’s just, you know, it’s calming just a tad.

You know what? And I would love to take a deep breath. I would love for the market to do exactly that. So if the interest rates do go up a bit and we do get more listings on and we do sell them all within like 30 days instead of 30 minutes, and we do have two offers instead of 20 offers and we are able to get our buyers homes that are qualified for them. Yeah. Then that would be way better.

Think how much better your life would be. Yes. And if that has this that app, one of our best, most productive years in real estate was a year when people were refinancing to six and a half percent because that was a good rate. Right. So and that was a great year for us and we were fairly new to the business.

So anyway and I think that rates, even if they go up, they’re going to eventually go back down again. And then what will end up happening is people will refinance what they what they had. So things will all work out. They will work out. The world is not going to end.

But, you know, I say this a lot. Your assets increase with inflation. So it’s a good time to buy. It’s it’s it is. So I want to make sure you guys, you know, it’s important for us to have our hand on the market and know in real time what’s happening. So I saw on Facebook yesterday several realtors were posting like markets crashing. Don’t think the market’s crashing all of these things and showing different stats. And, you know, out of three realtors, they all had a different perspective and different stats.

So I’m a believer in the actual facts and the data, and you have to hone in on the specifics as well to give the proper data. Right. We can’t give national we can give national information, but we really need to look at how it’s affecting us locally. And really, I call it micro local because you can get super detailed in this. So this is through your CCAR membership.

If you log in through CCAR net, you can have access to networks trends. There’s a market viewer and there’s our PR. These are all three good resources to get information. I like metrics trends because this you can look at your entire MLS, you can customize it to how you want and it shows in the, you know, up to the the previous month. So we’re in June now. It’s got all up to May’s information. Mm hmm. So this is a really good way.

And if you look at the bottom, you have original list price, price for foot, all these different you go to the one t

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Well, let’s get you a market update. So this would kind of be the market pulse kind of what’s going on mid mid-June of 2022. So let’s just kind of take a moment and discuss what’s going on and see what’s happening here. So the stock markets down considerably. Yeah, oil prices are up.

Yep, inflation continuing to go up. And even if that basket of goods they’re using is outdated and is underreporting inflation, it’s still reporting a super, super high rate. Yeah, but unemployment’s down and interest rates are now going up. And this weekend you said you had a listing and you had an agent there for the open house. And tell me about that.

So we had an open house this weekend. Price point is I think a demanding price point is a 6 to 800000. So this one’s, 625 and we received offers significantly above the list price.

And that list price was what you would consider the new market price.

I consider that the new market this is and I explain to the seller, this is our starting point, right? But you have to be comfortable if this is our selling point and our end point. And they were totally good with it. They understand. And now, you know, we’ve got offers above.

So roughly what percentage above?

So we’ve got 60, 70,000 above.

50, 60, 70 above. And it’s a $600,000.

House, another offering.

So it’s a 600,000 house. So like eight, ten or 12% above. Yeah. And list price.

And that same.

You consider that to be the market, the new market price.

New established. Oh my word. So two months ago our price point was was five, 55, 50 to 575.

And then it got bumped up because.

We had two closings in the community that they started low and that’s what they closed at. So that’s our new market price.

So like before, like a couple of years ago, this was a $300,000 house.

So see, prices continue to go up, but you have this super hot market at that price point, right? Yeah. And you have a lot of people you had how many people at the open house.

So Kaylee said like 40 groups of people came through, 40 groups of people.

That’s one person. So going back to that, we probably should have had another agent there to help her.

Yeah. Or it’s like a bouncer checking ID to take care of. You know, we were kind of doing this before when we were doing open houses, but maybe it’s good to bring a buddy along. So sorry about that, Kayla. I kind of threw it to the wolves.

Yeah, you should kind of have.

Like, she handled it and did a great job.

So when did open houses become like nightclubs? Like where you need to have a bouncer outside and somebody checking IDs?

And you do need to be careful because there were people showing up 15, 20 minutes prior to the open house, knocking on the door asking if they can come in. No, that is not okay. That is not okay. Right. So, you know, same thing. We had agents showing up an hour earlier than their appointment.

They were just trying to get in there and the seller happens to be home and it’s not okay. The seller was put on the spot. So maybe in our showing instructions we reiterate, do not come early or please adhere to your scheduled time.

Well, all right. And then a bunch of listings are starting to come.

Online and tons of listings come on the market we’re still at we were looking earlier like a 1.3 months of inventory right now. So we’re still in a in a in a pretty hot seller’s market. But we are seeing I mean, just us alone, we’re seeing a lot of listings.

And I was looking at the price point right now. I was just thinking about this yesterday. I was talking with my sister Amy, and we were looking at some of the price points of the listings that, you know, that you have that you have coming online that like she just got one handed, just sold one.

Amy has one coming up of all that are well over $1,000,000 like way, way over. And looking back, that’s not common.

No, it wasn’t common here years ago. And now all of a sudden we’re looking at it and we’ll have like, I don’t know, at least five concurrent

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Does anyone know if they’re up or they’re down?

Yeah. Chat in now what you think lumber prices currently are. So here we are in June of 2022. Yeah. And we’ll see how this age is. And what we’re going to actually do is show you an article right here and have you take a look at it and discuss this real quick.

I like the article name you do. Prices soared in half.

All right. And what I’m going to have happen in the background, we’re going to all talk about this and we’re going to take a super quick poll. So we’re gonna do some stuff live and we’re going to push Omaha just a little bit. So who thinks that lumber prices are up or down or way up or way down?

So we’ll give you four choices way up or just up, down or way down compared to what it was before the pandemic started.

The answers on the screen. Well, we’re going to have we’re going to take a look to see exactly what’s going on. Right. So we’re going to see what people think. And then I’m going to have Omkar. Give me a quick Google, not live on the screen, but he’s going to maybe take a Google and put it up and put lumber prices in a chart and show what’s going on with the chart so you can see and we’re going to look from the past to now and see where it’s where it’s been trending at.

All right. And so we’ll get all those things done. But for just a moment, we’re going to sit here and discuss why this is a problem. The lumber prices, it’s one input and lumber is a commodity and there’s a commodity price associated with it and they sell it by like the board foot. And so this there’s an index that tracks the lumber, the lumber prices. And with this, you can see and it compares a relative basket of linear footage, a board feet.

And it’s some of this and some of that and some of this. Now, it’s it’s not exactly correlated. And I’ve had builders tell me that there’s not a direct correlation between the lumber index and how much you actually pay for lumber when you build a house.

But it’s really close because you buy different things. Yeah, exactly. Right. So but they’re like, no, it doesn’t really do that. I’m like, Oh, okay. Kind of really just think about it. It has to.

Be supply and demand driven.

Yeah. So what we have here is we’re going to zoom over and we’ll show the screen. Now, you very well pulled up the lumber price.

Index, although the lumber and everything is relative. So what he has here is this six month price of lumber. And if we’re going to go to a maybe slightly larger time frame, let’s go to five years and let’s see what we got for a year in five years and see what’s happened here.

So and maybe go to Max and see if they show us even more. One over. Perfect. All right. So now what we’re looking at here on the max price for lumber is if we look back in the past historically and we were to draw a line, I’m going to grab the mouse for just a second and control this here and look across. So if you were to look at historically over a period of time, I would say that the average lumber price was, you know, for 2016 run.

So if we look 2016 till 20 like 2019 when we had this this thing here, the number was about 400 was the average number for 2016 to 2018 range. We were at about 404 hundred for for this unit. Okay. And then the prices did go way out of control. We got up to nearly four times per unit.

Well, it’s this it’s a composition of so many board feet. And again, it’s a super detailed question and I don’t know the exact answer, but it it’s like a basket of goods for lumber and somebody might know the exact definition or maybe omkar even charts that one in for us. So I know the exact definition, but you can see that it plunged because people thought nothing was going to go on right during the pandemic. So we got as low as 322 for that same basket.

That was before. No, well, this is the pandemic and then the prices skyrocketed, then they whiplashed. Back then they went up and now they’re coming back down. And if you look way over here, it’s just a super

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Luau Recap Well, we have a little update or recap, so go ahead.

Why don’t you? First, I want to say this. I know everyone chipped in and helped in some way, shape or form. However, I’m going to give a special shoutout to Logan. Logan? Oh, my goodness. He did so much for us. And, you know, he just always will is willing to go the extra mile. He does it.

And he you know, he I don’t know. He’s so sweet and so, so fun and energetic and work so hard. And he’s always there and steps up to the plate. So thank you, Logan. Susan Oh, my gosh.

Susan helped out tremendously. And Shep, too, he came by several times, you know, bringing things helping. So thank you, guys. Thank all of you. But you three really made a difference. And I don’t know, it.

Was I would say it was Dave added in quite a risk in starting at Captain Dave before, and I mean nothing really compares to that because he not only cooked, but the next day he was out there cleaning up him and Karen. They were out there cleaning, picking up things. I mean, so many people Kyle helped. They even did some, you know, came the electrician. Christian.

You know, we did a lot the week prior. We decided to drain our pool, wash it, fill it up, because it wasn’t looking that great. We did several things around the house just getting it ready, and it was new for us because we’d never had a big event out there. So getting the flow and everything together was, you know, took a lot of time and and thought. But I think I would say this was one of our best parties because the weather was perfect, the wind was not crazy, and everyone seemed to have a really good time.

The sunset was awesome. So I want to take a minute and just recap by showing some of the photos from the night. I’m sorry I keep coughing, but you know, we had our band and these guys are awesome. They show up early, they, you know, they get all set up, they plan ahead and they have fun and they really enjoy us having fun. So, you know, they’re they’re great people. So we’ve had them we have met our Christmas parties.

This year was a little different. They had a few people that were different in their band, but I thought they were great.

So this is a behind the scenes picture when they were doing Mike Yeah. Mike warming up. And I took that from behind inside the garage. So they were a true garage band?

Yeah, they were a true garage band. And this worked. In the event that it rained, we could just pull them further inside the garage. And that worked out. Martha brought a tent. That was an amazing tent. That was great. This is Kyle Kinte from Republic Title and his wife, Kari, and they looked so cute.

So I wanted to I wanted to post this because if you didn’t see them, you missed it because they they dressed alike. I told them they get the cutest couple award of the night. So and I loved it. People were sitting around the pool putting their feet in. They had a great view of the lake and starting at six, I think was a perfect time because it was light long enough for everyone to get there and arrive and and be able to see the lake and, and get a tour with Mike. So it was great. And then, so this was funny.

So we had our son Trevor helping with parking. And at one time because, you know, the lower half of our front yard is not ours, it belongs to someone else. So I told Trevor, just keep them out of out of that our neighbor’s yard and make sure everybody’s up here. So he came and got me.

He’s like, Mom, I don’t know what to do. All the cars are I mean, the whole property is full of cars, so my snapped. That picture was pretty cool.

Yeah, I took this picture. I could not believe how many people.

Were there to the road. You know, you can zoom in and you can see I had planned on like three rows of cars to show up and I thought that would be a lot. We had no idea how many people would actually show up. It seemed like with everything that’s going on, everyone had been canceling like everything last minute and not going and hav

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Lego homes. Could you be living in one soon? Not like the Lego home that you’re thinking of, but really kind of similar that Seana Sisto, she’s a luxury real estate broker and this topic was brought to you by producer Omkar. He found this one for us. He’s like, You’re going to like to talk about this one, so let’s go ahead and do that.

First, I want to tell a quick story about Legos that our kids loved Legos when they were little. They do. And we decided one time to to kind of declutter and, you know, clear out.

That occasionally or do that as they as the kids got older.

Great idea. So there’s a few things I wanted to keep. Yeah. Legos, one of them. One day I came home, I went to throw something away in the trash bin, and I looked in there and there’s Legos everywhere.

Whoa. I’m going to hit the pause button. This one. I’m going to hit the pause button on this one. And I’m going to say there’s a difference. There are Legos and then there are these. True, true fact. There’s another item called do pillows.

They weren’t all the do pillows. Not one person collects a pillow. Not one person keeps a Duplo.

They were not all the Duplo was. There were Legos in there. I was literally in the bottom of the trash can and our neighbor came.

Over, that part’s. What is going on. And I said. Then I had to defend myself and I had to make sure all of our kids toys away. So she’s like, aren’t they like 16? Like, yep. To keep them for when they have kids. Legos are valuable.

Ladies and gentlemen. Believe the stories you want to. I have been.

Known to throw things away. You can ask our neighbor.

And let’s go ahead and show the massive Duplo Omkar. Let’s share the screen here for us. Perfect. Thank you. So look at this. So these are homes that are built with mega, mega pillows and they all snap together. But as you see this piece, right, they go together in parts and we’re going to share this link.

So you have it and you can get to it, but it creates something kind of cool here, right in this guy is putting this house together and you can see how they snap together like like.

Bricks, but they create the whole thing. Yeah, it’s like fake, fake Ted Cruz with sunglasses on and maybe a little more hair. And so he’s loading this up here. Right. And go ahead and we’re going to scroll down and see some more stuff related to this. You guys can take some time and peruse this on your seems a little.

No, but let’s continue to look at it. So he’s got some more stuff going on here.

Look at this. Isn’t that pretty cool? And how strange goes together like it only speaks to Brandon her. These just all go together and they’re put there.

I mean all right, ladies and gentlemen, kind of interest. Put the house together super quick. This goes to another concept that is remotely similar to this one because it’s quickly.

Establishing a structure. Right. And that’s done the same way. There’s a house that you like, the nomadic shacks.

And those are more for camping and for the reason for that is so you can bring it into one location. Can be established really quick. Well, this is the same thing.

So you stay in the plans and if you want and then you get this set back and then you have the whole house is just constructed.

For putting this together, no nails, nail free house. Interesting. Yeah. So, ladies and gentlemen.

How much they are? There you go. Nice. You know, you’re asking super detailed questions. I may not have reviewed all of the information to have that currently.

350 for the Lego plans. Is that what that was?

Yeah, but no, but let’s. I mean, it’s kind of cool, right?

And then they have the interior walls are a little bit smaller, but you see the whole house can come together really quickly and there’s less waste now. Hang on, Omkar. If we pause right here and scroll back just a little bit to reveal the tent, if you look, they’re putting this up all on the comfort of a massive, massive tent.

And it’s a temporary structure, but it’s ex

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Hey there. Let’s talk about land. Land brought to you by Megan. Why, thank you, Megan. So Megan gives us an additional place to list the land beyond and the less so this would be in addition to not as a substitute for. But sometimes people look in different places.

So let’s make sure that we uncover every rock and make things available for you guys. So we do have a subscription now to land, which is part of a larger network, and their logo actually looks eerily similar to like Loop Net’s logo.

So it kind of feels to me like they’re probably part of that same exact network when I look at that. So you see that up in the upper left hand corner right next to Lancome. They’re a little logo, feels like they’re part of something else. So we have a lands of America, land in farm, land watch, Land Magazine.

So this a place that you can list it any of your properties for sale and go about putting it up there. It’s to do with more, more properties that are more spacious. So the typical listing that we that we normally have wouldn’t fit well here. But if you maybe have a farm and ranch that you’re listing, then this would be an excellent, excellent place to put it. I think acreage, if you’re describing it in, you know, the amount of acres and it’s multiple acres, then it probably should go up here and be listed here.

A lot of these properties are really, really large, but I think that it’s going to be good for anyone that’s looking to move a little bit further out or look for something different. So we have an account to list stuff. There is a cost associated with it. So if you have a listing, please come directly to me and we’ll talk about the cost and what it is. But we do have an account that you can log into under to get exposure and to have that all put together and that secret has been shared with you in vault.

So if you do not have it shared with you, then please also ask me about it. We’ll make sure we get it there. But we want to make sure your listing has the maximum exposure. So conversely, if you happen to have a buyer, right? So this would be an additional place to look if you currently are not finding your needs met on the traditional MLS and you can’t happen to find something because this is a place that you could independently go and list a property kind of for sale by owner, or you could list it here instead only.

And maybe, maybe there are properties that happen to be listed here that are not in the traditional system. So if you have clients looking and wanting to buy something, this would be a supplemental place to look as well.

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Good morning. Thank you guys for joining us today on a Wednesday a can’t stop won’t stop Wednesday. Mr. John. So thank you for joining us, first of all. And we’re just going to do a quick overview and a couple of reminders for our agents. But today we have a thing called Can’t Stop, Won’t Stop Wednesday.

And the idea behind that is you kind of get like Monday. People are catching up on things, right? So you’re hitting the ground and you have Monday and Friday, people are like super excited about it. Right. And then Thursday is like pre Friday, right? So that’s like a thing. And then Wednesday needs its own because you’re like in the middle of the week and whatever. So it’s like when we put in the most effort of the week. So it’s can’t stop won’t stop Wednesday. All right. Like, yeah. And you just move things forward.

So we also have agent meetings. So that’s the reminder to everybody here 10:00 in the morning. We do have agent meetings. We have a special one today. So we have Katy leading the agent meetings this week. So welcome back to Katy and we’re looking forward to the topics that she’s going to cover. We’re going to have the link chatted in the description for everybody. So you guys have that link and we’ll get that for you and remind you guys about those meetings. But please be there. Be prompt to have your camera on and be ready at 10 a.m..

Thank you guys for that. And we’re going to get started here with John in just a second. So, John, go ahead and hit the bell and we’ll get started. Perfect. Who is John? Let’s discuss. John. So, John, I’ve known you for like, ever at some time.

Like. Yeah, I know. Like, pretty much. You’re one of the first people I was lucky enough to meet when we moved to to Dallas area. So tell me a little bit about you. This is kind of your introduction.

So John Lutcza with the goal, financial services. Been in the mortgage industry for 23 years and every every day is an adventure in this lovely business. So we have been married for 20 years and have two gorgeous daughters, one eight about to be 18 and one just turned 15. So I’m losing hair over that and that’s kind of my story.

Now, I want to be sure and we’re clear on this one and the whole married 18 years that.

20 almost 20 years but. But you have to your wife correct.

Okay, good. I want to make sure that you weren’t implying that. I’ve known you a long time, John, and. Yes, yeah, exactly right. That’s perfect.

All right. So and then you’re a lender.

So and talk about that for just a little bit. So we’re a local a local lender here in Dallas. We have our office. We have complete underwriting department, processing department, closing department, all under one roof. So we get deals done a lot quicker than some of our competitors. It’s helped, especially in this market right now, as everyone sees the the stress and strain of importance, of getting things done quickly in a time frame.

I mean, in 23, three years of business, you know, some of the stuff we’re seeing in contracts right now where we’re waiving mortgage contingencies, waiving appraisals, things like that, I mean, your mortgage lender really needs to be on point to deliver for your for your buyers and for your sellers.

You know, we we understand that there’s a lot of moving parts with the home loan, the very emotional process to, you know, you have people that are selling and they could be relocating out of state. There’s timelines and it’s important that we’re able to deliver that. And I think that’s something that we’ve done really well at.

Mike Yeah. So we’re going to share all your pertinent contact information. We just displayed your website, so, so that’s there. And you know, there’s a little parallel. So let me think of the name here. Shana has an agent that she did a lot of business with, and one of her first transactions that she ever did was directly with this with this agent. And they both knew nothing. They were like both super, super green. And I’m lacking t

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How much is the right ISD worth to your property? So I have a real life scenario here where the property in McKinney is in Walnut Grove, and that’s in McKinney. But it used to go to Prosper ISD. Then they switched a long time ago from Prosper ISD to McKinney ISD.

And there were several, several homes in the area where they still had children going to prosper. Sd So they asked to be grandfathered in and remain that specific property as an ISD of Prosper. Right? So they would still go to Prosper even though the whole area was zoned to McKinney.

So I want to change it back to Prosper ISD. And I was trying to talk through and figure out what the value is of the right school district to a specific property. So we’re right on the border and it actually feels reversed.

That property on the other side actually goes to Prosper ISD and this one’s carved out and goes back the other way. So it’s this weird and it seems extremely logical that it would be based on where it’s currently located. So the question comes up to you, and this is the interactive part of this is how much in a percentage term? Is it worth to go from McKinney ISD to Prosper ISD?

How much of an increase in value or decrease? So put in a whole number if you think it’s a if it’s an increase and put in a negative number, if you think it’s a decrease to go from McKinney ISD to Prosper ISD.

So what I also have is some additional information that I’m going to put up here on the screen. So we’re going to share this off. And what I’m going to show you is this is Prospers Third High School and the high school you can actually see from Walnut Grove. And this right here is Walnut Grove High School. So they named it after the neighborhood. But the neighborhood actually doesn’t go to that school.

So I think we have a very good case to be able to to amend this and get this one to pass here, seeing as it is named after the area. And, you know, it seems extremely, extremely logical to me. So anyways, now you guys have seen what prospers third high school is going to potentially. Oh, there you go. You can click through this here and see what this what this looks like. Right.

So inside here we go. Look at this. This is inside that new Prosper High School. Let you keep messing with that old car and show off what that looks like. But I think it’s worth. You know, quite a bit. Right. And you guys can take a look right there at this Prosper New High School, Walnut Grove. So I have my first answer in that Stacy Hendren Chance in that she thinks it’s worth 10 to 15% to move from McKinney ISD to Prosper ISD.

Now, for the high school and in particular here, the the high school would go to McKinney North, which is a considerable distance, in my opinion, from this or prosperous high school is going to be like, I don’t know, one mile. Right. So there’s there’s that we’re not going to play this three minute video, but you guys can at any time take a look through and see what this new high school is going to bring for for Prosper ISD, the property.

The school is actually in construction right now. And I myself think that it is 15% what the school is worth. I think Stacy is on the right move. So I think that to the whole neighborhood it is worth pursuing. I’m not sure that price difference in the tax rate between Prosper and McKinney, that might play a little bit of a difference if the taxes are significantly more for Prosper that ISD versus McKinney ISD.

But we’ll have to take a look. But Stacy, thank you for interacting. 10 to 15%, she says. So there is a value in Stacy’s mind. My mind it was 15%, and I would like to hear what anyone else says. – How Much is the Right ISD worth –

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Short and long term rentals. So these are items here when you’re renting out a property that you purchased. Right. Let’s go ahead and discuss the basics of this here. So as real estate professionals, if we have investor clients, we definitely want to be a little cautious with this.

Right. There’s a short term rental, I guess, feud going on in the city of Plano right now. And there’s one particular neighborhood that has an Airbnb and the surrounding neighbors are furious. They’re going before the city council meetings and just in a rage. So I think, one, that’s something we’re going to see at the legislative level that they’re going to they’re going to work on these short term rental issues and long term rental issues, because what we’ve heard is the caps, you know, they they place caps.

The HOA was place caps, rental caps that you can only have a certain percentage of homes that are used as rentals. Everything else must be owner occupied. Well, there was an instance in Plano where when this investor purchased the property and leased it out, he was grandfathered in right during the lease. He during the lease, the rental cap changed. And so once his tenant moved out and he replaced the tenant, he couldn’t do that and he was received. These topics are so interesting, right?

Because you have the property owners rights, you have the best interest of the neighborhood. You have the property going up in value. And you need to look at it during those times in your highest and best use. And then when property values are going down, you want to be allowing the person to do something else. It’s super complex.

Yes. And it seems like there’s not a great solution to it. But you want to let the free market work, but then you want to protect the property owner. You do. And you allow for. Yes, control and you do. But, you know, going back to when I went to the NAR leadership and we heard from Lawrence Yu and he mentioned it several times, he’s like, if our country becomes a rental country, right?

So there should be some control on it. If it becomes a rental country, that is not good. It’s just not good. So, you know, I heard that yesterday. What was it? So I heard a stat that 82% of wealth when a person retires comes from their real estate holdings that they own. And if you rent, you don’t have them. Then the same person also told a story about he had two young daughters. Right.

And one of them just jumped in and bought a house and was maybe premature on it. And the other one he described as bougie and was not ready to buy and wouldn’t do it till she was prepared and fully had all our ducks in a row and, you know, didn’t want to move into a place that was like that. Right. So the other one buys a place. It’s like falling apart and less than desirable neighborhood.

I think it was Summersville or something. So she bought where she didn’t really want to go but just did it and the other one held off, put some money into it, you know, did some cosmetic updates and turned around and and then she sold it.

Right? So then the one that bought real estate ends up selling it. And she’s younger and she makes, I don’t know, 100 and some thousand dollars on it when she sells it. Right. When the market’s right. Yeah. And then she goes and buys three acres of land and she starts on her next thing. And then the other one, the bougie one, didn’t buy any real estate because she wanted to be the right piece. So now prices are up here.

So that’s a good lesson when people say, Should I wait, do I wait? Do I buy? Do I wait, do I buy? What do I do? So you can tell the story of two sisters, the story of two sisters. But going back to the short and long term rentals, if you have an investor client, you know, we don’t want to be on the hook if something like that happens, right?

So it’s really important that you talk to them about these rental caps and what’s going on. And and, you know, but tell them you you know, you’re not you can’t be responsible for that. A

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Are you a courteous listing agent? That is the question right here that we need to discuss. That is Shawna Acquisti. She is wearing a hat, as am I. She’s a luxury real estate broker. Thank you. To McKinney Hat Company or put together some awesome hats for us.

And let’s go ahead and talk about things that are important for being courteous. Listing agent like yes. So being a courteous listing agent really goes a long way. People remember these things, right? If they did not, they remember more. If they had a bad experience than a great experience, just remember that. So here’s a couple of things. If you have a listing.

Yes. And this is coming from a personal experience that I had last week. So we were negotiating a contract, working through it. And in the meantime, showings continued to happen on our listing. So we had an executed a contract, say mid morning. We had a showing that happened right before that. And then she went to schedule a second showing later in the afternoon after the contract was executed, a contract was executed and it was under contract and she was furious. She called me and she’s like, Why would you let me come and view this home?

Why wouldn’t you have told me? You know, and she was just upset. And so I said, Well, you know, we don’t necessarily have to do that, but I understand your your frustration. But maybe next time you could call as well. Right. So the phone does work both ways. Phone does work both ways.

But, you know, in understanding how upset she was, I thought, you know, this would be a good reminder for us that if you’re going to continue and allow the showings right after you’ve executed a contract or if you’ve executed a if you’re executing a contract and you have future showings, I think that would be very courteous to just give them a call and say, Hey, I don’t want you to waste your time.

However, we would really love for you to show the property and we would accept a backup offer, right? So just I think a little courtesy goes a long way and just think of those things and how you feel when that happens to you and, you know, try to just be a little more courteous.

All right. So if we go back to your timeline and we’re to plot it on a map here, you said early morning showing by the agent for the first time. Yeah. Then actually we were negotiating the contract the day before, so that’s fine. So you were negotiating it. Okay, so start the day before you’re currently working with somebody to try to get a contract executed. Yes, but you don’t have one executed. You have one. And you know, you never.

No, no, no. Yeah. So then the next morning, early on, you have the first showing for this person? Yeah, totally. Fine. There’s nothing to report there. Then you execute a contract or, you know, a lot of times we will call and say, Hey, are you working anything? I’m coming.

My client’s interested. Are you working any offers? Right. And so remember that side too. It’s always good to ask the questions. Then you execute a contract, say, midday, right? And then so the showing before that, you would have no idea. Then the person goes to schedule a second showing and then you have the conversation, right?

Well, she saw then it was under contract. So she’s like, I’m coming back to, to write an offer. And I’ve already showed it to them. I didn’t know that you were working an offer, or then it just goes under contract. You should have let me know that this morning. Well, you can’t foresee the future right before that happens. So you can’t. But just just a reminder, you know, let’s be courteous.

And and if you you know, if you are working a contract and you do execute a contract and you have future showings, just call them, let them know. And then if you’re under option, I mean, it’s going to show under option. We have three days. So to put it under option, if there’s a delay in in changing the status, then I just think it’s a good idea to reach out, give them a heads up of what’s going on. Excellent.

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An overview from the city of McKinney. This is a transportation update from August. The middle of August. Yes. And we’re going to go ahead and share that with you. Thank you to Mr. Mike Sheppard. Yeah, thanks. Of a quiz to Real Estate four. It’s nice when someone is to go and attend something and bring back this information.

You know, we talk a lot about attending city council meetings or things that are relevant to our business and bringing it back. We can’t be everywhere all the time. So. But if you attend, obviously continue to send us. Yeah. Don’t keep it all bottled up. Just share it. It’s the ideas we need to share.

So we’ll have this. We’ll put it in the description so you guys can see, get the exact link to this. And so this is the updates here of what’s going on with the city. Yeah. And what they have going on four big major projects for new roadways and for how they’re going to be funding it. And then they have their comprehensive 2040 plan, which 2040 maybe that bypass will begin by 2040, maybe.

I think it’s in their 2050 plan. Right. So they have a master thoroughfare plan, they have mobility, they have pavement management, regional mobility with how they’re involved from that big overall perspective. They have a bond update.

Oh, no, I was just you know, infrastructure is really key and it’s really good to know with all the growth that we’re experiencing in North Dallas, how they’re proposing to tackle it. So I just saw Proposition E includes 100 million for traffic improvement.

Yeah. So that’s their bond that they have going on. They have key projects and key updates that are going on. So you’ll see those noted as one, two, three, four and five showing what’s going on below.

Now what’s going on? Reg We see that it’s coming in off 380 WILMOTH That they’re working on that. Interesting. Well, with Collin County Parkway, I think that’s going to relieve a lot of traffic. Personally, we’ll see. They shop. We thank you for sharing that one.

Road improvements, living added additional lanes. Oh, okay. So Custer. Custer has some new new stuff going on there if anyone’s going to help Custer recently. And raise your hand if you’ve hit one of those big barrels. It’s crazy. I have not hit a big barrel, but I will tell you that I haven’t either. But I’ve seen several people who have hit them and it’s crazy. They just go, It’s funny. I read the other day in a Tesla. So the Tesla picks really? Yeah, the Tesla picked me up.

So let’s go back to I’m going to take a quick aside from this old car and we’ll just go back to Talking Head. So I was in a Tesla, in an Uber, sitting in a back seat and we were talking to the guy about technology and you know, he had it on the mode where the car was driving and he was still attentive.

He had his hands like right here. Right? But he was like, Oh, it’s amazing. You know, Tesla’s have self driving abilities, so that’s what he’s talking about. He was so related to this.

We’re in McKinney. I’m on a new road improvement that they have, but there’s a bunch of things going on. So we’re headed down the road and right there at like the Home Depot intersection on Custer going north, they have a barricade up with some of those barrels and then they have an arrow pointing this way. Right?

And so we go up to it and the car approaches it and then he stops and he’s at the light and it stopped there at a traffic light. And all of a sudden the car starts moving and he’s like, Whoa! And it identified something and thought he was supposed to drive between it and it didn’t know is it the light? So he had to stop it from driving in there. But it identified that as a truck is what it showed up on the barrel. The barrels showed up as a truck on the on on the jeeps type thing. That’s what I identified it as.

And that’s like, well, that’s concerning because if you have to make a choice between like if somebody runs out, if it’s a classic scenario that I have, if something jumps out in front of your driverles

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Heating and cooling with geothermal. Is that really a thing? So everyone talks about all these different ways to be efficient, to be green, to be responsible, to be all of those different items. And as a homeowner, is geothermal an option for you?

Do you live in an extreme climate or climate either one way where it’s either hot or cold and you use a lot of resources to heat and or cool your facility, right? Or your house.

If so, then geothermal could be the correct answer for you if you have enough space to go ahead and pull that off. So let’s go ahead and take a look at what geothermal happens to be. All right. So here we have a an example of what this is. And I happened to find this one, and I it was from our from the university that we that my sister and I both attended.

And Cornell University does use geothermal, as does one of our local schools with Frisco ISD. They use geothermal with all of their new items. But what geothermal does is it uses the earth to heat and or cool your inside space. So Cornell University uses the Earth way down to heat it, and it uses the lake to cool it. So they have extremes there in temperatures. And when it’s cold outside, you want to heat inside. And when it’s hot inside, you want to cool it down, right?

So that’s basically what they’re doing here. You can take this loop and you can see what it is. So the concept of geothermal is to take the outside unit that we have the heat, the heat sink element or the cooling element, and to allow the earth to do the work.

So if you think about it, what it’s doing is the AC in your home is extracting the heat from within the house and it’s sinking it somewhere and it’s putting it out into the air. So we have this unit outside and many people think that the air conditioner is outside and the heater is inside.

But what we have outside with our unit is this this thing that takes and attracts the heat and dissipates it and diffuses it and gets rid of it. And that’s exactly what is going on here, cooling it with the water. So within the water, there’s different things. You can have rods, you can have cooling instruments like a big plate, you can have a tube. And within the tube they can cycle some gel through it, kind of like an antifreeze.

And that can cool or get rid of the heat so that when it goes back to your home, it’s much more efficient. So if we were to think about this and I gave you some numbers, geothermal is at a C rating of about 30 is how efficient it is and it’s using electric inside to convert it.

But what’s happening is it’s a more efficient way to heat and or cool. So you’re getting a much higher efficiency rating than you normally would with a traditional unit, and it’s sinking all of that stuff into the earth.

So if you go deep enough into the earth, it normally ‘s about 50 degrees. So if you go dig down either 6 to 10 feet or you go into a body of water, you’re going to find that the water is about 50 to 55 degrees at about ten foot down or ten foot into the earth.

It’s about that temperature year round and it doesn’t change. So what’s essentially happening is the heat is leaving or the cool is leaving this unit as it goes through.

And it’s using friction. It’s using the earth to do all the work for you. And is this the way that things are going? I don’t know if you have enough space. It like something that works. We’re going to go ahead and take a look at something else here.

And this is another unit which is placed within the earth, right? So this is a community that is putting it inside their man made retention pond here. So within this, you see it’s all aligned. It’s ready to go. They put stone inside it. And if we were to zoom inside there, what we have is the unit inside, and that unit itself is the item that is dissipating that heat within it.

So if we were to scroll around here and zoom in and see if we can find an even better picture than what we’re going to see is that that is what’s going on is taking the surfac

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Writing with the brand Kenny Parcel So, yes. So I attended the NAR Leadership Conference last week. I am the incoming president of CCAR, as we know, and they had a leadership conference just for the incoming president. So it was really, really cool.

And they announced their new initiative for 2023 as well as their leadership for 2023. So Kenny Parcell is a realtor from Utah who has been elected to be the president for NAR for 2023. So, you know, everything was kind of focused on his initiatives and what his vision is for, for the future.

So his agenda, it was really cool because, you know, I had no idea of this, but it’s totally in line with kind of what my thoughts and vision are are for for CCAR in my presidency next year. So it was really cool.

It was kind of like the State of the Union address that Jerry Jones gives before the season starts. For the Cowboys. This is that kind of version of it.

But off, you know, straight out of the chute, Kenny, when he came out and started speaking, it was like, wow. I mean, it was impressive from the very beginning. And I had met Kenny one time in San Diego, and this is kind of a funny story. We they rented an amusement park for for us. We were at a conference. And so we were all there. And there was this one. I don’t even know what it’s what it is. It’s just some little exhibit or booth that you hang. So you. Hang from this bar and it raises you up, right?

And then your feet are off the ground. And it’s you know, it’s a contest to see how long you can hang. And I mean, I did it. Several people did it. I mean, it’s really hard to do that if you haven’t done that. And so. You know, sitting standing back, observing was Kenny. And someone in the crowd was like, Kenny, you got to come do this. You’re an athlete. And he was like, No.

I mean, he’s very just kind of chill and low key is like, no, no. And then they kept on and on and on because Kenny was an athlete, played football. So you see him, he starts rolling his sleeves up. Get ready comes up there. He did it and he hung there forever. We were like, Wow.

So the challenge is, can you hang for 60 seconds?

Can you while or longer I think is over a minute. And that’s, like, really super incredible.

Very, very impressive. So I was like, okay, who is this guy? And then fast forward to now, it’s like, oh, he’s the incoming president. Wow. All right. Yo, Kenny. So, you know, we’re going to be talking about more things that actually I’ve learned from Kenny just in that week of conference. But we’re going to start out with what is in RS Initiative for next year.

And this is Kenny’s kind of you know his year to kind of roll all this out. So we’re going to start with a video, which is the story of the mission, which is the theme is Ride with the Brand. And it’s about us, you know, supporting the realtor brand and sharing it within our communities so we can, you know, bring awareness to who we really are and what we stand for.

We’re not just transaction based. It goes much deeper than that. So I think this is a pretty cool video that Kenny put together and we’re going to show it.

In the Old West. When a cowboy rode for the brand, it meant they had signed on to the mission and goals of the ranch owner. It meant they were committed and were a dedicated team player. It meant that they promised to protect the brand as though it was their own. The theme for 2023 is not riding for the brand, but rather riding with the brand.

Because you, the members of the National Association of Realtors, are the brand. The brand is you. And the brand is us. We are the brand. It’s who we are. It’s bigger than any one person. And for years, great leaders like you have protected and safeguarded the brand. Thank you for writing with the brand and giving your very best. Our brand represents the best of people who truly love our community and the people who live in it. Buckle up. We’re riding with the brand in 2023.

So I don’t know where they did their retreat,

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Okay, guys, we’re going to run over a little bit today, but we do have Dr. Blake Bennett here. And I just want to we we talked about how property transfers without a will.

Now we’re going to talk about with a will. And we’re going to be brief because I know we’re holding you over, but we do have him. So we definitely want to take advantage of of our time with you. So let us know some things. Just because you have a will doesn’t mean everything. Oh, well, okay. No problem. Right.

Absolutely. You know, it’s number one is probate. Everyone thinks, oh, with the will, I’m going to have to go through probate. And that is true. There’s thresholds for the value, I can say.

So what is pro can you just let’s simplify it like I have a will, but it has to go to probate. So what does.

That I believe that the threshold is the state is 75,000 or more and that’s where you go into court and all the debts are settled up and then it’s divvied up amongst the heirs per the wills instructions.

So yes, and there’s normally an executor to the wills.

Who and it could cost some money. It can. So, you know, that’s just that’s a pain.

It is a pain. But I can say that if the surviving spouse is on the deed, then it doesn’t have to go through probate. So that’s nice. That’s nice. You know, after it’s not held.

Up if the surviving spouse is on the will. So what is is on the deed. Is on the deed. Yes. What if there’s. Children. So you have a will. The children divide everything.

Well, it depends. It depends. I mean, if you don’t like one of your children, you can cut them out of the will, literally. Wow. That’s the nice thing is with the will you get to state? This is how I want my estate divided up. I will say that, you know. You’ve got to be careful whenever you draft a will.

I’ve been to enough meetings where I’ve heard lawyers speak about intergenerational transfer, transferring property from yourself to your children and grandchildren.

And let’s say that I left a house to my son, and my daughter gets the Mickey Mantle rookie card that I have stored. That’s in the way, really.

I don’t I know I don’t have that, but I think one of them just sold for $10 million. And so the wills read and my son gets the house and my daughter gets the Mickey Mantle card. Well, I sold them a mickey Mantle card three years ago to pay for hospital bills, let’s say.

So the Mickey Mantle card is gone. My son still gets the house. My daughter gets nothing. So that’s the importance of, like you mentioned earlier, updating that will and making sure this is how it’s going to be divided so that that’s one of the big, big.

That doesn’t really affect us in real estate, I guess, unless not really.

I mean, unless you’re looking at maybe someone’s going to contest that will because well the Mickey Mantle card doesn’t in the round anymore. I’m going to contest your ownership of the house and so they might be able to slow up the process.

A nice thing with a will is you get what’s called a step up in basis. So I buy the house in in 1985 and I live in it until I pass. And let’s say that that’s going to be in 2050. Well, the market’s kind of changed since then. What’s nice with the will, whenever it’s passed, is the value is placed on that house as cost basis on the day that you pass away.

And so your children, whenever they inherit that property, they can turn around and sell it the very next day and have no capital gains tax whatsoever. It’s because they they effectively inherited it market price and they’re selling it at that same.

Is there a time period? I thought it was two years.

Something like that, I believe. But that that’s very important. And I think that once a property and this goes beyond even the real estate get involved, but once once a death occurs and if property passes through the will, it’s very important to get our appraiser out and have them appraise that property so that you have a cost basis on the day of death.

Right. Okay. It makes sense. So as

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And so then you’re going to have that estate without a will. It’s going to be separated into community property and separate property.

Okay. I’m going to pause you right there, because community property, I think it’s an assumption of a lot of people. Maybe you guys are different, but I think it’s an assumption. We hear this a lot in Texas. If we live in the home, if I live in the home with you, then it’s community property, 5050, right. Is that true?

No, no. And here’s here’s an example. Let’s say that you and your husband decided to move out of your beautiful home. And let’s say that your husband had inherited his parents home out on a lake, and you both moved into that house.

For the time being. And that’s where you decided just to set up shop for now on. That’s his separate property.

That’s his separate property without a will.

Without a will is separate. That’s his separate property. And so it’s it’s handled a little bit differently in in the state of Texas. If he were to proceed you in death, you would get one third of that separate property. But it would be for your life. You would have basically a life estate. And then it would pass to your children. So you would never truly own that property. You would have use of that real property. But you wouldn’t. It wouldn’t be yours.

So how would it get sold?

That’s going to be one that probably the children are going to have to get involved. If that house were to be sold after after the husband’s passing or the wife, whichever one had that separate property, you’re going to have to get those heirs involved and they’re going to have to agree to it.

So that’s on separate property.

Yes. So that’s that’s one situation. So let’s talk about the unfortunate that, you know, you and your spouse. I’m not going to say Mike and I, because this kind of freaks me out like this, that you and your spouse live in a home and one of you passes, right? You bought it together. You live in it together.

It’s community property. The spouse passes and you’re ready to sell.

There’s no will. 100% of that community property goes to the surviving spouse. Okay, so it’s yours, free and clear. But again, anyone could contest that. An heir could contest that along the way. So that’s why it’s so very important to get a will. It’s so very important to plan, right? Because if you’ve planned ahead of time, it takes a lot of the headaches off of the family.

So let’s go back to this question, not to put you on the spot, but okay, so this happens and I have 100% of this property.

Yes. So say there’s children like we have three boys. But what if there were three other boys somewhere else? How does that work? We have three boys together and three boys, not two.

That’s a blended family. So that’s a blended family. Selling without a will you say I have 100%, but is that right?

Right. And so, yes, if it’s community property, then yes, you would be able to keep that part. I’ve got some notes here, if you don’t mind, because we disclaimer here. I am not I am not a lawyer here. So I do I.

Should O.D. on here too, because she should have put this up up front that I am not a lawyer.

Neither am I and in a blended family, your children are going to get all of your half. So the the spouse that passes away in a blended family, their natural children will get half of that community estate.

Ok and then what about the other?

The other half gets the spouse gets the surviving spouse gets to keep their part. So I keep…. we’re not taking you and Mike right.

Now, are you? You, somebody else gets, the surviving spouse gets 50%. The other 50% is divided amongst the children.

Exactly right. The spouse that passed away and the children of the spouse that passed away would get their their half of the community estate.

It’s confusing already. Very, very confusing. So we don’t need to dissect this for clients. What we need to know is, is this to understand if this is a possibility. So if you go in and you have one single s

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Fractional home ownership in real estate, specifically residential real estate that Shana and I are going to discuss this one real quick and see what’s kind of up here. So the concept of fractional home ownership is that you don’t reside in it yourself and you don’t like living it for so many days a year.

It’s not like a timeshare. Right. So it’s different than that because like a timeshare in that classic case would be 12 people would buy it and you get it for a month each or 52 people, and you get it for the same week each year, but not personally. A huge fan of that myself, but like whatever. Right?

So this is strictly an investment. This is an investment. So think of it as like a right, right. A real estate investment trust, but just for specific properties.

So you own everyone, you put a certain amount of money is no, you can’t use that. Well, you could like you could rent it and happen to be the same person that rents it.

It’s like the real estate stock. Stock market.

Yes, almost. So that’s pretty much what it would be. Yeah. It’d be like stock market for for real estate. But you’re buying an individual stock, which is an individual house or property, not like collectively a larger assortment of it.

And then somebody would be professionally managing it and then you would own a fraction of it.

So is this good for maybe if you have a first time homebuyer and they have some money saved, but with the current market, it’s difficult for them to purchase. All right. So they can go in and take their, say, $5,000 that they’ve saved for a home and have an interest in a property.

You know, I don’t see that it’s really any different than buying any other stock or any other investment.

Right. But what it’s doing is it’s allowing people to invest in something that might be appreciating or going up in value that’s backed by a physical asset. Stuff like this is probably going to further propel real estate prices on an upward trajectory because any time that so, say this takes off and even just 1% of all the homes are bought like this. Right. And people start turning to investing money in something like this.

Right. Instead of pick whatever other investment they could have. Now you have less supply, right? Because something else competing is purchasing it like a foreign investor or a business or one of these.

So with this can count as like the institutional yes. Buyer definitely would the corporations. And so somebody would buy it and then they’re taking.

Yeah, they’d be basically divvying up this and they’re going to. Have like this and then they’re going to have some type of ownership of it and get paid to like manage.

So basically I’m going to go buy this house and I’m going to have these investors that control, you know, when you have like a what’s it called? We did it with an E o the company that controlled her basically.

Yeah. I’m not sure the exact word we’re looking for, but anyway, yeah, basically your investors are controlling what you’re doing.

Yes. So they’ll be their desire will be to raise rents and to push the push the market higher and to do it for a profit. Right. And they’ll want to get in and out. And I don’t know that there’s enough appreciation, right. In homes that you can pay all these different fees, so to speak like a CD.

Yeah. I mean, there’s going to be fees all over the place, right? Yeah.

And I know about that. So we shall find out. But maybe this works your money under the mattress and wait until you have enough to to buy it yourself.

Yes. I don’t think this is an entree or an entry point for you to get into home ownership by buying a fractional home ownership like it’s a stepping stone to buying a home. It would be no different, in my opinion, for any other investment that you would be making right now. From the real estate perspective, I think it’s taking properties off the market, so to speak, and it’s allowing for more rental properties in single family residences.

Which I think is a

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Every day real estate accomplishments. So each morning you wake up. And each night you go to bed, hopefully in that order. Right. And throughout the day, you have different accomplishments that you get done. Sometimes you might write a contract. You may sign a listing agreement.

You might do one of those things. But other days, you might be working on things like building your brand and meeting somebody for lunch, inviting people to the party or whatever that happens to be for you, right? For that day.

But each day you kind of need a quality score of a certain amount of things that you add up. And you go through the day and you try to accomplish things and you may have small accomplishments, but they all add up. It’s cumulative. You get like this cumulative quality score for what you do for the day, and you need to do things every single day, right? But you just need to be thinking about short term, medium term, long term. I to bring in volume business how to bring in high price point business.

So think about what you need to accomplish today. Like as in right now on a Can’t Stop, Won’t Stop Wednesday, which is the perfect day to be thinking about something like this. Right. And some days it might be that you need to put in a little more effort. Some days things might just happen and you get to take the afternoon and lay in the pool and just enjoy yourself and whatever that is, because you already accomplished stuff in the morning. But don’t let the day set on itself without some type of accomplishments.

Sometimes you need to burn the midnight oil or wake up earlier to make those things happen. Right. So last night I send my last message and got it out and it was something that I had to work on. And I said to myself that like, I’m going to get this done by the end of the before, by the end of the day. And my definition at the end of the day might have been a little bit different than I was initially thinking. Right?

So I thought I would have it done. I don’t know, by two in the afternoon and then things happen. I thought I’d have it done by five and I thought I’d have it done before, after supper. And then I thought I would have it done before this. Right? And then I ended up pressing send on that and getting all my thoughts together and having it completed by 130 in the morning. But sometimes that is what it is and that’s what it comes down to. In real estate. You need to have accomplishments every day big, small and otherwise.

So what is your accomplishment today and how can you tie it back to what your dreams are to make those things happen? Big, small make them happen today on a Can’t Stop Won’t Stop Wednesday. See you soon.

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Travis Cupp this man gives back to the industry. And I’m Mike Acquisto. I’m here to kind of talk about some of the stuff that you do as an educator as giving back to the industry within the real estate profession. Right. So you are a mortgage lender and you’ve done a great job there. And you know, one of the things that came up that when we were talking about this was that you’re you give back and you educate and have different classes. And to be able to do that, you have to have success within the industry first. Right.

We talk about these different things at different levels where when you first start within anything, you have to do enough to survive to like be able to like feed your family and eat and like exist. Then once you fulfill that, then you can move on to like more lofty goals, like giving back to others in need or specifically to the industry that helped you out. Right. So kind of talk about a little bit of that.

So, you know, and I kind of learned a run almost before I walked because I learned the stuff from a training perspective before I was even really involved in it. So I’d already kind of had it just jammed in my head. As far as the VA things, you know, I’ll teach classes, you know, sometimes I’ll try and do direct outreach straight to the veteran because every veteran ought to know that they can have multiple homes. They ought to know if they’re only buying one home with their VA home loan that they don’t have a purchase limit. As of 2020, the Navy Blue Water Act, most people don’t know that.

They think there’s a cap somewhere. You know, you can build some serious wealth in real estate. And that’s one of the things that makes you feel good about your stuff by the end of the day. So, you know, especially I was in Colorado when I started my career and there’s a lot of active duty people, right. The the difference in wealth between a renter and a homeowner is tremendous. Like the average renter has about $6,000 in assets. The average homeowner has over 300,000.

And when you look at a 24 or 26 year old getting out of the military, the difference of having a house with 100 grand in equity and you’ve got a lower payment might go up over time if you’re renting. The difference between those things is just it’s it’s incredible what you can do. There’s different financial strategies, take cash out and sit on it while you find your career.

It is really, really incredible. And I talk about that a little quite a bit. So let’s just put a pin in that right there and discuss just that one item for a moment. Right, that one single act of buying versus renting and the struggle that might be at the moment. But if you’re able to like just like put in that fortitude to do that, right. So recently, homes have went up in value dramatically.

They’ve appreciated. Right. And people have gained 100 and $200,000 in equity in their home, 250,000, whatever that number is. That’s happened recently for people. And I think about that, right? Like how much that really is because that’s the value in their home or the equity appreciation is akin to like a savings account, right? It’s their money. It’s just like a long term savings, like a safety deposit box for their savings that they kind of can’t access it all the time.

But if you think about that and you look at people’s normal savings rates, right, like I was just talking to one of my great friends and you know, he said he saves $1,000 a month. And so in saving $1,000 a month, how long would it take to get to 250,000 in savings?

Very well done or year.

Yeah, right. So thinking about this, that’s amazing. And how much money would that person made total over their whole 20 year time frame to save that amount of money? Right. Right. So this individual probably has to make two and a half million dollars, right? 300 or $3 million to get back to this over this length of time to be able to save that amount of money. Yeah. Right. So it’s unbelievable how much it really is because it’s li

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In a changing market. How long is an approval good for? Well, it depends. So we’re going to answer that question out with Shana. She’s here to help us walk through this one.

And the issue is, right now, we have changing interest rates. Right. But there’s other times when we have job market changes where we have pricing changes, we have all these different items going on and we have an approval issued.

And if your client has not been able to find a home and it’s been a few weeks since approval and maybe they’re kind of at the top of their other price point. I mean, it’s 30 days really safe anymore. I think that before you pull the trigger, if you’re having to go significantly over, then you need to talk to the lender and find out, you know, does this impact them? Does this change their monthly payment dramatically?

Right. And it could. You always want to, on your third party financing addendum, put a cushion in there. So I think having that conversation with the lender to say, hey, you know, you’ve approved them at a 5% rate right now. What if it goes to seven? What does that look like for the client? And encourage your client, your buyer to have that conversation with their lender so they know so they’re not, you know, hit with a surprise.

Taxes are going to be more. All of these things they need to factor in, you know, not just not just your lender approval but yeah, that falls into it. Your taxes. You know, so.

I would wonder my question to you would be, you know, your best course of action of after your client falls over when you say something about a 7% interest rate and they’re laying on the floor. You know, would you ask the spouse to help lift the person back up or would you make sure that you lift with your legs, not your back when you pick them up with your legs?

So that’s that’s the suggestion there. So that’s going to shock people when you say something like that. Right. And I think that’s what’s right now, we’re in a shock because people are like, oh, I could have got a 4% now I’m at.

Yeah. And then you say another number like seven, right. And then suddenly they’re like, whoa. And then so let’s walk through the the math that goes with that. So now all of a sudden, you have an approval letter, you have a price point in your mind that you’re thinking about, and then you have the double whammy.

Right. So the whammy of like the price going to go to this. So if the price goes up because it’s an in-demand property and you’re bidding above and then you have the interest rate changes because right now they’ve just been huge swings in interest rates. Yeah. All right. So now we have that. Then all of a sudden the amount changes. And the reason that important is because people get approved based upon different ratios. And the one that would be affected, their likely is their income probably is not swinging in drastic amounts.

Right. So they would either have to put down more money to get to the same monthly payment because there’s a thing called the their ratios, they’ll have their front end and back end ratios and you need to make sure that both are kept in line. Just a friendly reminder, the front end ratio is going to be all of just the housing expense on a monthly basis. Only that. And then the back end ratio is everything else in addition to the housing.

So that would be the car loan or any other liability divided by on a monthly basis how much their income is. Yeah.

So, there you go. So, you know, it could it could change drastically. But if you think about it, maybe they’re not having to go up as high. Right. Because we’re seeing that maybe we’re not seeing the huge overages as we’ve been seeing from this vista to sales price. So maybe it helps them out a bit.

But, you know, I, I like to always think and remember that whatever you’re doing right now, if we’re seeing inflation, we’re seeing things go upward with inflation, whatever you’re purchasing is going to the same thing as is happening, right? So what

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Best location in the world. Like I can’t even think about where to live in remotely work whole world so Chad in right now where you think it happens to be in the world.

Well, yeah, well, we have it up over here, but we’re not going to it yet because we’re going to allow people a minute just to chat in and say where they think it would be. Okay in the whole wide world.

Yes. So name some places.And then what you want to do is then think about what impact this has on real estate, because things consistently change and, you know, the Internet and travel and everything that’s going on, it makes it that a world is changing faster and faster and faster.

Right. We’re getting to this point where things are just like super fast and quick.

Right, fast and quick and things also aren’t so far away anymore.

Right. Right. So you can do a lot of different things. Right? So where would you live? Right. So the best things are, you know, I would assume some of the things on the list are going to be cost of living. Right? Probably ease to get to things. So to travel, probably accessibility to entertainment and culture and museums and parks and hike and bike trails and nature and all that type of stuff.

Yeah, right. I would assume they would roll all that into it. So you probably have to have a good airport is one of my first first guesses, right? Yeah. It’d be nice and centrally located, so. Yeah. All right. Well, drum roll. Yeah, let’s see.

Oh. The number one city is in the US.

All right, but it’s not New York or LA. So now we’ve narrowed it down to the United States. Now we need to think a little bit more, and I think it has to be centrally located with a great airport. I think that’s going to be one of the first steps. I think it has to have good weather. Okay. And let’s keep going. So all of that would lead you to believe that, right? Correct. Okay. All right. Let’s take a look.

I can’t wait.

All right. That’s foam cars. Cute. Does that look like Dallas? No, it does not. All right. Union Station, downtown Kansas City.

Come on. Know what? Is that true?

Yeah. They put this list together and figured it out. Yeah. Kansas City. We have friends who live there. Young. The kids friends move there.

Yeah. So there you go. So Iceland Air put this together, and they had an analysis. I thought they were defunct. Maybe it’s just me. I thought they were out of business, but so it goes. Kansas City all. They have barbecue and a good jazz scene.

Wow. Yeah, I guess it’s centrally located.

I don’t look at Kansas City, Missouri, of having like an international airport, like an easy.

I don’t know. Well, just because I said that would have been part of my criteria doesn’t mean that they took that to be it. You’re a traveler. Well, they they looked at happiness index. So. Kansas City.

Austria. Hey, we’ve we drove through Austria.

Okay, let’s see what else we got. New Zealand, Denmark, the U.K., Canada.

Australia. Yeah, Germany. You know, we really like Germany.

We drew we flew through Frankfurt, Germany. I think I actually had my car impounded in Frankfurt, Germany, if I’m not mistaken.

Okay, one true story. One of our family vacation. True story. And no sleep. And Finland.

Okay, so of all the places in the world. Kansas City, Missouri. Come on. They’re just trying to. Somebody paid a lot of money to try to boost their economy there.

It might be the only place that Iceland might be. These might be the ten locations that Iceland air flies to directly, most frequently. So I’m not exactly sure how relevant that list is.

That’s funny. But no, it’s it’s got to be at least reasonable.

It’s right in the middle. Yeah. And so the reason to talk about these things and I’m actually super happy that we were not like name number one on the list because if we were, then there’d be even more people coming here and there’d be even more demand and more popularity. We have been a victim of our success here in this area is people then see it and unde

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Alternative building materials for residential construction specifically. So we’ve had all these different spikes in different directions and there’s a shortage of this. There’s a shortage of that. I can’t get enough of this or oh my gosh, the price of and whatever.

And what happens is things need to continue moving along. Yeah, right. So we’ve had problems with lumber prices. All of a sudden we’re like, bam, way up here. And I would ask you today, because this is being recorded, what are lumber prices right now? So think about lumber prices.

And I would ask you real quick how our lumber prices are right now, that’s just one input. But if I’m asking you right now without looking it up, what do you think lumber prices are?

Look it up. No. So our lumber prices up or down? Right. Right now. Where do you think they are? So they got up like 1300 or 1600 for like just like a little bit, but they got up to like 12, 1300. And, you know, they had historically been around 405 hundred and 600. So the question would be, what do you think lumber prices are currently at?

Because that’s an input. And then there’s alternative methods of construction, because here locally, people normally do build their home with wood, right. As a framing material. But there’s other alternatives as prices go up. There’s metal studs, which they use in commercial, and those are a little bit more expensive. There’s concrete blocks that they use now. So that’s the thing. As prices change, all of these other materials become less.

We saw home, you know, I guess it was. Last year, a couple of years ago, started to be built with the concrete blocks. And I thought, what did you think about that? That’s a solid house. It really.

Is. It’s solid, secure. You insulate it. It’s not going anywhere.

And then there’s ice. There’s ice caps. And those. There’s like it’s pre construction where it’s put together prefab and then brought in and then that’s all done. So it’s kind of like made in a factory and then comes to you and you like, install it and put it together.

And like a commercial building, you’ll drive by and all of a sudden it’s like, wow.

That’s fast. Exactly. So that’s how they’re able to accomplish that. So these alternative building materials, as one thing goes up, the other becomes more attractive and sometimes it’s pricing, but sometimes we just fall into a habit and you’re like, Well, that’s not how we do it here in Dallas. We don’t do it that way. Right? And then all of a sudden you’re like, Well, why? And then you’re.

Just like, Well, everybody else does it that way. And that’s that’s the mentality, right? Yes. Because it’s always been done that way. And that doesn’t make it right. It’s worth the the due diligence to find out what are the pros and cons of this? Who’s done it around here? If it works for a commercial building, why wouldn’t it work for a residential home? These commercial buildings are, you know, a lot of times.

I don’t know. So maybe you’re going to start going with tilt wall construction for your house you’re just going to bring in and, like, oh, and stand it up and then have all open space in the middle.

Tilt wall construction for one storeys. I don’t know. It could work totally fine. Yeah. All right. Well, anyways, there’s alternatives. And what is one? And there’s different ways. So I would say open your mind and think about these different methods as you run across them. Pass along to us.

Yeah. If you hear of any builder using alternative products, that would be interesting.

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So the newest, latest report comes out that inflation year over year has slowed at its lowest rate the first time that it’s actually went down since we all got into lockdown.

So it was recently reported that it went down to 8.5% year over year. Okay. So let’s think about that. What does that mean? So this inflationary number reduced from what it previously was. So did we hit the high? I’m not sure. Maybe so. This number came down mostly due to the input cost reduction of oil. So that cost coming down allowed this number to to decrease from where it previously was.

All right. So that seems to be good news, but it doesn’t mean that it’s down or away or over or any one of those items. In fact, it’s still going. Right. So what we have is numbers piling up upon numbers. So we had this crescendo of the highest rate of inflation. I think that’s a word I can use in this situation here. And then it seems to have hit the peak and may be coming down, but we still have all these cumulative numbers that are going to be added up on top of each other.

It’s not like it went from here to like zero or to like normal type of inflation of 2%. It’s still exceedingly high, and it’s going to take a period of time to ratchet that number back, and then you’re going to have those numbers added upon each other. So you do have a real challenge and this article directly says what they kind of think, and I would tend to agree with it. What are some of the solutions to this? So businesses are struggling to find solutions as to what to do with inflation. Right.

And how do they get better with it. And what we see here is that people are continuing to make large investments in technology because they’re finding that people in places in things are expensive. And what you need are better technology solutions. And with those technology solutions, you can cut people, which is an input that goes into it. It doesn’t sound good when you say it, but that’s a reality. If you’re going to conduct business, you have to do that. So how do we bring this back to real estate?

Right. You’re probably going to find a lot of items be remanufactured in a different way. Our home is going to be put together differently. Are they going to use things like CIPs where they build the house and then bring it out to you and assemble it when it’s there?

Right. Are they going to do different things with technology to continue to make showings easier, to do all these different items as a for for the real estate industry? So just think about these large scale items that are applying to different industries because you’re going to see it apply to your industry.

So find those ways to streamline everything you can. Double down on technology as others are doing. And that will lead ultimately to even more success for you as the agent, ladies and gentlemen. Best of luck with that.

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Fertigation. Yeah, that’s right. Fertilizer and irrigation. Separate words combined together. Fertilization. That’s what we’re talking about now. It’s a home related topic because it obviously has to do with irrigation and fertilizing. These are two tasks that you probably don’t want to do all on their own, so why not combine them like any good home chore? Let’s go ahead and take a look and see what we can do here. Introduce the horse.

So this is a fertilizer injector. So this would go directly into the irrigation line. And as the water passes by it, it picks up the appropriate amount of fertilizer. You dial that into exactly what you need and where it’s going. Boom, presto, fertilization inside your irrigation. How good is that?

So there’s a bunch of different ways to do these. You can do it on larger scales. You can do it on smaller scales. You could have it through a hose, you can have it through a drip line. You could put it build it into your standard system. You could have it indoors, you can have it outdoors, you could do it where it takes it from a concentrate and dissipates it out, like a miracle grow.

Or you could take that concentrate, put it in a larger tub there and then spray it out with the actual water and a different level of intensity.

So those are just all some things that go with it. We will chat this link into you so you can go ahead and see that and do some more research on it and see if that is the appropriate item for you and for your fertilization and irrigation needs done. Inflation. It slows down just a little bit.

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Store return items add a discount, especially for designer items like lighting, bedding, all types of home decor items if you are looking to renovate your home and or stage it for sale. These are some items that could help your listing out and make it just a little bit better and save yourself a couple of bucks along the way.

So let’s go ahead and show some stuff off. These are tips that you may know, but we’re just bringing them back into light here. So this is one of the lights that my lovely wife happened to happen to. Like she like the whole brand. They have a whole theme that goes along with them. And this one came up and I saw it was $514 and it was nice. There’s nothing wrong with it. But I didn’t necessarily like the price.

So what I did is I took the information off of that. I took the $514 price. I’m like, Man, I really don’t want to pay that, but I would love to get this. Now, I didn’t care so much about the exact light because we’re going to be moving. We’re going to be listing the house and like new use to scratch your two on it, like whatever.

Maybe it’s seen, maybe it’s not right. So what I did is you just take the information from the light and you search the model number, you Google that, you’ll go ahead and put in some information, but not all of it and see what your results are. So they came up and I was lucky enough to search all around. And let’s go to the next tab here on car. Lo and behold, we’re able to buy that same item for not $514 plus tax, but for $249.99.

Wow. All right. So same exact item. It happened to be brand new. It was just in a box and return previously. Somebody must open it up and like, hey, that color is not for me. That type of thing is going to happen all the time. And then they have to go ahead and sell these. Right? So what happened is it was available for purchase and I clicked by now. So there’s all different types of places you could find stuff like this and this is just one different example of it.

So I just remind this to you so that you can search correctly yourself and also get name brand items, designer items for your home and decor as you’re remodeling, ladies and gentlemen, just do it.

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Hey there, I’m Mike Acquito, real estate broker with Acquisto Real Estate. Do you know what FTTT stands for? I don’t know exactly how many ts. There’s only so many ts. Ladies and gentlemen, don’t get lost in that OC. What it stands for is if this. Than that i f if. This than that. So that’s what that means. And it’s it has to do with technology and specifically Zoho Mail has an option for if this than that.

I’m going to use Zoho now to explain what it is and show it off and use some of their stuff that they have. And we’ll chat in this link for you as we zoom over here as well. So what this is this is explaining if this than that specifically through Zoho Mail. So if you look at the left, anything that has to do with email and then some action happens. So it would read something. So for example, it might be if Mike sends you an email, right? So if the sender is Mike and you have my email address, then do something else with it.

Either build it on, read it, put it to the top, put a urgent message with it, or delete it, put it to trash anyone of those things. Right? A very simple example of if the sender is me and it comes to you through email, you could do something with it, right? And there’s all types of different options with what this would be. So you can automate tons of different items within Zoho email.

So we’re going to go down through this list and let you choose and you can integrate it and find different triggers to go ahead and do something. It’s normally linking to different applications or different sources to do some types of things.

So for example, send a copy of your SMS or your texts to Zoho Mail. So maybe what that means is every time that you get a text message from a client and you want it to be part of the record, right, then automatically send it to your Zoho email so that you could upload it as a part of the file. So that’s an example of if this then that I had Stacy talking about that just the other day about how important it is for your text message log to get uploaded as an email and then get brought into Zoho CRM related to the transaction.

We don’t want to have stuff laying out there, so you can click on that one where it says Send a copy and it’ll give us some instructions of what to do. So send a copy of your text message to your Zoho Mail account. Maybe let them click on that bad boy and see if we have some information underneath there. Right? So this opens up here and there’s all types of different options that we have.

So it just brought us to one page to see that. And then you can click to connect and you can walk yourself through this and see exactly how this works, right? So these are all different examples and we’re going to chat in specifically this last link that we just had.

If I navigate back one page to the whole list of them through Zoho Mail, we’re going to have those links in the chat. And if you come up with anything else that you think would help you out, then those are different changes that may assist you. All right. So let’s go back here and we’ll talk about this in general from a real estate perspective. Thank you. Okay. So if this then that the concept of two different things linking to each other and a decision tree being made. So let’s talk about it from a real estate perspective.

So you’re an agent and you have different things that happen in your world everyday. I just talked about it tech. Now we’re talking about it in the real world. So a real world application for you as an agent would be something like, I just met a client for the first time and you could say more specifically, you just met a buyer client for the first time. So the question is, if I just met with a buyer client for the first time, then you would do something else.

So if they said, yes, I want to work with you, then get a buyer representation agreement signed. And we’re just kind of looking at what technology is doing and what you’re doing in real estate and how it all works. But bringing this

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Oxagon. Is that the future of real estate, specifically commercial real estate and what’s going on with the world over in Saudi Arabia? So let’s go ahead and take a look and see what this is real quick.

So we’re going to flip to the screen, show it off and let you guys decide. All right. So this is a link we’re going to chat this one into for you guys. But this is oxygen. This is what Saudi Arabia is doing. They’re you know, they have leadership. And some of the things that I really enjoy, right, about some of these other countries is they have leadership that stays around for a long time.

And you might not like all the decisions that the leadership makes, but they have a direction. In most cases, China does a great job having like a 50 year plan and they go execute on that and they publish it. Now they might tell us what they’re going to do, and then they have a different internal plan, right? But they do have a plan and they stick with it for a long period.

Here in our country, we seem to go back and forth between like yes and no or up and down every four years, right, whichever way that happens to be. So we’re moving and we’re consistently staying within this small range now where some of these other countries are making bold initiatives. And these are similar things.

You look at this and this is a shipping port that they have that’s highly automated, automated. And so you don’t see many people there and they’re going through this and making huge, huge changes. This is similar to what we did as a country when we had our industrial revolution and we put in like maybe highways. Right? These are huge, large scale projects that are very impressive and kind of should be understood.

Now, it might not directly impact us, but when you see what the rest of the world is doing real estate wise, right, we can’t get left behind in some of these things. It brings up great discussion points for you to talk about with clients and you can say, Is this better or is that better?

And you can have all types of different discussions. But let’s roll back up to the top here on the car, if we could, and just take a look at what they’re doing here. Right. They have so many amazing things going on and we can just take a look and see what they are trying to accomplish.

And they’re trying to lay out this world specifically for businesses where it’s just a highly interactive space, where technology leads the way for business and where it’s all collaborative and kind of next level in all those words that you would want to put together and you kind of see that coming together here. So they have science, they have computer science, they have tech, they have those interactive displays and those rooms. Those are amazing, right? Who wouldn’t want that? This looks like the future of anywhere, not just Saudi Arabia, but where it is. And they’re acting on it. And to me, that’s very impressive.

So isn’t this something that you would want to have locally, right? Would you want to have a great, huge project with a good vision, looking forward and leaning into doing all these types of things? It’s kind of impressive and maybe we can learn a little something about some of their real estate initiatives.

So anyways, that link will be chatted in for you and I think that’s going to kind of conclude us just bringing you guys up to date on a few things that are happening globally so you can talk about them locally and specifically with your clients. Ladies and gentlemen, we’re done.

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Are you wondering if something’s on the up and up? Wondering if it’s level. Wondering if it’s square? Are you getting all the things right? So we have a laser leveler that I’m going to showoff here and how you can laser level with confidence. We’re going to showoff a couple of products here.

I have a link and some items for you guys to take a look at. And it seems really simple that things should be level and things should be square. And, you know, how is it outside and what’s the rise and the run and the drop and does the house slant away from the property? It quite the right rate so that you have the right amount of drop off or drainage and all those different types of things.

And I bring to you a few different types of laser levels. So you probably have seen surveyors out in the field or you’ve seen guys out there and you’ve seen some type of box that’s set up. And the old school box used to be a transit and they would look through and then they would have some guy holding something else on the other side, right? There’s like a guy in a pole. And what that was doing is finding out how far away, if it’s level, what the difference is between the two and all those things.

So, you know, there was kind of an old school way to do it and then there’s a new school way. So these items aren’t as expensive as you think and it just provides you with a way to check or to double check or to have your homeowner’s check and see what’s going on. So these are a couple of different types. There’s levels that go, you know, all around the room and they’re horizontal and then they have the vertical ones and they have them that make that you can use for outdoors.

So you can find those types of items. But these are all super handy and they are really not as expensive as you would think. So if you ever see a surveyor out there or one of those guys and you wondered what it was and how to do it, using a laser level is really a simple thing. There’s a whole bunch of courses online on YouTube on how to figure it out, and you see that they come in different colors and different formats there.

But like I said, not all that expensive. This was 100 bucks. And then you can make sure that you’re leveling things correctly. So it would help when you’re hanging up things like pictures or get ready to to list a home for sale. If you go in and you see things just a little off, this would be a way that you could verify what’s going on for a rather simple thing, maybe you recommend it to the homeowner, but this keeps things square in a line.

And, you know, maybe it helps you out if you’re trying to do like a garden, it would be a good option there. Tons of different things that you would have uses for this for and not that expensive again. So check it out. Maybe it helps you out a bit. We’re done.

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Chicago? Yeah. Chicago. We went there last weekend for a for a quick visit. Sean was up there for a National Association of Realtors event for leadership training. And while we were there, we did a highly advised item. So I’m going to highly recommend it to anybody that goes up to Chicago.

Is a architectural tour on the river? Yeah, on the river. So there’s a river that runs through downtown Chicago. So I’m going to go ahead and show this off shoreline sightseeing. It’s an excursion that is available there in Chicago. You leave from Navy Pier and from the pier, you go out just before sunset, maybe an hour before.

So it’s a little cooler. And you go down through and you get on this jam packed boat with all your closest friends.

And as you go down through there, they tell you all about the architecture that is down there. So it’s an option for you to learn. And I could not believe how kind of cool it was. If you look, you see where you leave from on this route down below. And it shows that you go in and then you go up and you go around and you come back. And it was a 75 minute guided tour.

The explanation was really, really good of everything that was going on. You can clearly see all the buildings. It’s nice temperature, it’s a good thing to do and you learn quite a bit from an architectural standpoint. I didn’t realize how much, how much there is to it and in what goes on. So we’ll go back up to the top. We’ll see where it is.

I highly advise the Navy Pier one, but if we just look at that picture at the top, you’ll see that in Chicago, they’re downtown. It’s all kind of around this this river. And the river runs out to the lake and they have a lock system to keep the water so it’s not back flowing and all those things. But you go on this tour and you see all the different architecture of Chicago in the different time frames in American skyscraper history.

And it goes back and there’s you see all the similarities between buildings in this city and that city, and you’re like, Whoa, we have that building in Dallas. And like, Oh, I’ve seen that one in New York City. Or and there’s a lot of similarities that the same person built one in this city and they built one in that city and they built one in that city. So you’ll see those across the board.

You can see the different time frames. You can see how they went after things. Oh, good, the video is playing here and you can see some of the different architectural items. I feel I learned a ton and it was pretty impressive. So if anybody has an opportunity when they’re in Chicago, this would be one of the items that I would definitely, definitely see.

I really was very, very impressed with that. And I think you will be, too. So, ladies and gentlemen, it’s just a little something to do.

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So here’s a couple of ways that T.A. can help you answer your real estate questions that you have to deal specifically with brokerage. So some of the other questions that we were just discussing would be if they were related to general real estate learning or, you know, important items that you need covered right away.

This is just about brokerage and how you would maybe want to grow your business. So we try to cover all different types of topics and maybe it’s growing your business, maybe it’s contract related and those we specifically want to hear about.

We do. And you can search our database of all the different things. So again, we’ll go ahead and look at some of these. Right. And we’ll pull up to grow your business and see the types of results we get there. You can have nurturing farming. There’s all different types of topics that you can search that we previously had and or we might cover in the future. Right.

So you’ll look at all these different things, right? So grow your business. This is a perfect list of all those different types of things. So if you want that, here’s all these different resources that we’ve covered. To me, that’s actually good.

It is good. It’s it’s a lot. And you also have Meghan as a resource. So if you look through here and you get an idea that we talked about maybe farming and how you can do that. Get it from TNT and then take it over to Meghan. And she’s great at helping you put it all together and where you can implement it yourself.

Tons and tons and tons of ideas. All in here for you to help you grow your business and then if you have any contract questions. So let’s kind of talk about that. Right. If you have a specific contract related to just a contract, let’s kind of discuss that. You can send the contract over just white out some information on it and then we can actually discuss it.

Yeah. Send us over a question that you have maybe one of the paragraphs in the contract you don’t fully understand. You want to know a little bit more. Let us know. And then if it’s something, you know, pretty in-depth, like I’m going to use this as an example because it’s coming up, we’re going to have Dr. Blake Bennett on to talk about death, taxes and selling a property because there’s really a lot that goes into it that I think we don’t think about until we’re having to be reactive to a situation.

And we want to make sure that you understand this so you can avoid any delays or a deal to fall completely apart because we didn’t ask the right questions in advance. So we’re going to have him on, we’re going to talk about it, and then we’re going to take it and have an actual class on it and have you guys come in and, you know, be able to sit and have an interactive conversation and ask further questions that you guys might have.

So it can be used in a bunch of different ways if we think about a general real estate question. The first thing to really do to get information is simply type it in Google and it’s going to give you a lot of results.

But sometimes you have to be careful that you get a lot of stretching of the truth, I guess, if you will.

So now you have basic information. Then if you want more specific information that we’ve discussed, then you can go directly to the page at Real Estate News TVGuide.com and search it there.

Then if you feel that you haven’t gotten the information from just a general Internet search and you haven’t gotten it from here, right, that we’ve previously covered it and you need to ask a question. We want to hear all the questions, but we want to have great interactions with you as the agent always.

So the easiest way is to get the simple answers. Simple questions answered are just those. Yeah, right. Stacey’s a resource. Meghan’s a resource. And both Shawn and I are resources. But we want to be here to answer and spend the most quality time with you. Possible.

And if we’ve already covered something and we already have the answer, then you specifically have

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How and why? To suggest topics for TNT each day. So my name is Mike. You probably know me if you’re watching this. And that’s Shana Acquisto. And we’re going to talk about why and how to suggest some different topics for us. So if you have an urgent question that comes up, then please please email myself copy Shana and put Omkar on there and we’ll get that topic covered the next day.

Yeah. Yes, that’s important to us. Yeah, it really is. So it doesn’t matter what that topic happens to be often. It would be a question that you might have that you think, man, I should I should ask or I could use a little bit more information on, yeah, whatever this is for your client.

So the idea is that we do T.A. just before your workday is supposed to start at 9:00, so you get your questions answered. So anytime you have a question, sometimes like an email, sometimes a phone call is something you’re thinking. But this is a format right here where we can answer that same question.

It is a format now. There are instances where you’re having a crisis, right, with a deal and you call Stacy and we understand that. But it could be that you also just are in the car and you think of something and you want to know it. A light bulb comes on and you should just email that out and you can copy Stacy as well. But send that to us, send out your thoughts. And if you did have a crisis, even though it was worked out, send us an email and say, Hey, I think this will be really good. I just went through this.

I didn’t really know this. I think it would be good to take a deeper dive into it on TNT. So anything, you know, real estate related, send it to us. And if you see something interesting, you see an article that’s interesting, anything like that, that can also be included. You can send that over as well. So yeah.

And the idea would be that we have a whole bunch of questions that are already answered. So we’re going to split the screen and show you some different things so you can get those answers to it. Yeah, because the idea is where.

Do you find it after? Yeah. Right.

So you would go to real estate news MTV.com. Real estate news mtv.com. And we’ll put that in the description so you have it and we’ll chat it in for you. And when you go there, you’ll go ahead and type in a search. So for example, if you wanted to be reminded of something on 1030 ones, you couldn’t remember the exact information you may type in 1031 and hit enter. And now what you’re going to get is information on 1031 exchanges in a reverse, 1031 in creating wealth and whatever it happens to be.

And if you look down here, you’re going to have all the relevant links, right? Yeah. And you’re going to have the full transcript. You’re all there. Everything super handy.

And maybe that helps eliminate some questions that you have or answers them for you. Right. This is kind of like Google for real estate questions.

And I think that’s a good a good reminder that instead of making a panicked call, maybe do a little due diligence on your own and see if it’s been covered before. Right? Because most likely it has. And if not, then we’ll add it. You can send it to us, but always check there. First, we want to be efficient with everyone’s time and then we also want to make sure that we get information out there.

So yeah. And then if you want to do even deeper dives into something else, right, like maybe another one is Iris or you have an HOA question. So we just searched Iris there and maybe ho you have a question so you would type in halfway and go ahead and hit enter and then you’ll see results here. You could be more specific on your search if you want, and then you get more specific results.

But everything’s here. Maybe this helps explain something to a client that you need explained. Yeah. And you say, Hey, here’s the link to it, right? And here’s what’s going on and here’s why we covered it and how we covered it and what’s going.

It’s just we want to keep everybody informed and we wan

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Can the real estate market start to imitate what’s going on with the Ford Maverick, the new small mini pickup.

By what used to be the Ranger / Ford Ranger. But, you know, we grew up I grew up in a Ford family. My uncle owned one of the first four dealerships in the country.

And their phone number was seven. Was it seven? Yeah, that was the phone number. Just seven. You’d pick up the phone and you would hit.

A operator seven. And that was they had a live operator. But, you know, the motto for Ford is built Ford tough. So I hope our real estate market relates to the Ford product.

Well, let’s take a look and see what we’re doing. Right. So how this compares here. So Ford is attracting younger and more female buyers with this smaller pickup.

And you got a maverick lady. So what we have here, the second point is the key one that I was looking at is about a quarter of the buyers are female for this pickup truck. Compared to the other way, it’s 90% are males. So it’s less than 10% normally for a pickup. But for this smaller, newer, more innovative. And they’re younger. Is it because males need the big heavy duty? No. Branch truck?

No. They’re they’re saying that this is a gateway truck. So you start in this smaller.

These guys more example came from California Omaha can you scroll back down a minute can I look at the other cars in this article? Okay. That one has horns on it. They live in Fort Worth. Yeah, that’s I see. That means you live in Fort Worth if you have that on the front.

Rachel and Stacy Love, Fort Worth. And that’s great. It is beautiful.

Yeah. All right. So let’s continue to scroll down and maybe we can see a picture of what the Ford maverick is 78 Lincoln Continental, but it’s a little bit more affordable. There you go.

And what they did is they reinvented this pickup truck and they made it smaller and then they made it where it had certain kind of less features. And they changed the price and it allowed for newer, younger and different buyers to get into it.

Well, and it became a Texas and they think I need a truck. Right. They just…. yeah, I don’t know.

So why I show this off is because they were able to take something like a pickup truck and make it a little bit more feminine and have more females want to buy it. And they made it simpler, cheaper. And can something like this be done for housing? Right.

That’s why we bring it up here. They made it usable, interesting and functional and better gas mileage and it became what what a lot of people wanted. Yeah. So how do we do that with housing? How do you market and capture that if that’s what you would like.

But and still have it efficient. Right. And functional and efficient and you know something that has a decent quality about it.

Yeah. And it’s making non pickup people become pickup people. Maybe we’ll get maybe we will get a ranger.

Yeah. Well, I was looking at it and the reason it was interesting to me is because this vehicle, if you look at a side by side, right, like a Can-Am or a Polaris or one of those, and you get one all souped up, it actually costs more.

It is crazy than this pickup truck.

Yeah. And this also said the average age of a new vehicle buyer is 48. So if you you know, you say it relates, can you imagine if the average age of the first time home buyer is like in their forties? It could be.

While it could be for their home. And then the pick, the the maverick is more like an apartment or a townhouse or a starter home.

Yeah, right. And then the home is more like, you know, the F 150. I don’t know. I’m trying to draw parallels and I’m trying to show you what somebody else did and how it worked for them and what it’s attracting in. Just yeah, it’s a little bit different. So maybe when you meet with your clients like, Oh, you’re a Ford maverick, I get it.

Oh, you’re a Fiat. Yeah, you’re you are an F 350. Let’s go get you a house or that’s awesome. All right. Is that it, Don?

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The real estate market forecast for 2023. You know, we get forecasts often, but it’s important to keep up with them because the market is changing and stabilizing. And we need to, you know, be aware of what’s happening out there.

Where is your doom and gloom? Where is your hope and optimism? Let’s take a look.

So this is not an old car. That was my cue for him to show. There we go. We’re showing the screen off here. Like I didn’t have to. I was like, oh, my God. I say, oh, you’re just going to happen. Ten markets most likely to see a downturn.

Oh, do you all want to guess? Well, we got some pictures here, so who can guess just based on the city pictures. Okay, so what do we see?

Well, it’s not Paris. No. So I’m guessing Vegas in the upper left? Yeah, maybe he blows up the.

Is that D.C.? Looks like some water that we see here and palm trees. So those are warm locations.

It’s got to be California and or Florida possibly, I believe.

A Bay Area and, you know, a capital area. So let’s see where the where we’re going to have some market downturns. Let’s see.

We shall take a look at the ten top markets to see. They looked at the 90.

These are at risk for a downturn. Yeah. So here’s where I you know, the news you hear downturn and you just think that the apocalypse is happening and a downturn doesn’t mean the bottom is dropping out. Right. What it means is we are stabilizing. And I this is what I believe and we can stop right there on the the market has been like increasing increasing increasing and I see Boise on here. It’s been crazy there.

Right? I see Bakersfield, California.

Yeah, we visited now they’re all moving to Texas.

So no, there’s a risk factor here that goes along with that. And when I also looked at this, they had let’s pull down just a little bit more. So I see is these places had downturns because they had been going up.

Well, I mean, it’s just not sustainable, right, to continue that. And that’s where I always fall back to being comfortable where we live and grateful where we live because we have seen our prices increase, but not in the magnitude of we’ve seen some of these other areas.

And so with stabilizing, I think you’re not going to see things drastically change, but you’ll see them even out and give a little bit more opportunity that we’re seeing to buyers.

And so let’s look at the colors. So color will often show us something here. So we have Redfin. They have a risk factor of the downturn. And the darker the blue, the less risky it is, the more the red, the higher the likelihood of a downturn or the higher risk. Right.

So if we look where we are, we’re in a a light, a light blue. So, you know, a little bit better. It looks like maybe Austin or Houston is a well, I thought that it should look like Austin. I thought, no, but they’ve I mean, it’s been crazy, too. So I see all of these cities.

Of course, it kind of makes sense that the cities that we’ve been hearing about that are just out of control will now even out. So I think you just have to be careful how you interpret the the words that they use for these articles, right?

It is. Yes. And it’s nice to see on a national level where they are and then where you happen to be locally. Yeah, because perspective really helps.

And if you go back to, you know, we are in a different situation, but if you go back to where the markets that struggled in the past, I mean, you kind of see it with exception of Austin or Texas, you kind of see the same cities, right?

Yeah. And then what it appears is that Fort Worth is slightly more likely to experience a downturn than the Dallas market. You see it shifted over just a little bit. There’s that red right behind it.

Do you guys feel like there’s like this competition between Dallas and Fort Worth? No, I think there are two totally different areas.

They operate together because they’re close together, but they do feel totally different.

I do. I don’t often hear people saying like, I’m either going to

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Do you have a crack in your tile floor? A little crack. Hairline crack. A big crack. It doesn’t much matter. And you need to fix it. And the problem normally is that you’ll have to go in and take that tile out and replace the whole tile, and then you’ll have a problem matching the grout because it’s been there for a while.

Maybe you can’t find the same tile, whatever that happens to be right. And there is a solution. So don’t worry about that. It’s a much easier solution.

Well, thank you, Shana. We’re going to discuss that right now and show you how easy it could be with magic easy tile. They’re easy.

Magic, easy takes that crack right away. Yeah, pretty much. It’s about how it works. Pretty much. So let’s make it easy on you.

I will say I’ve seen people try to fill cracks, and I think what they do is try to fill them with grout and match the tile or something. And you can always tell and it looks bad. But we had a a small crack in our bathroom tile and it’s been there for quite a while, but we’re trying to make some of these small repairs.

And I told Mike, I said somewhat one of our past clients had I was trying to find out who it was because they had their tile filled like some cracks and you couldn’t even tell. It was amazing. Yeah.

They brought a professional in to do the job. They brought somebody in. Shana was like, We’re going to have to bring this guy in to do this job. And I’m like.

So I got home very late yesterday and Mike’s like, Do you see any cracks in there? No. I mean, I couldn’t find it.

So let’s go ahead and show off the product first to start with. So waste of money hiring tile professionals. You can hire Mike.

You can do it yourself. It’s an easy DIY situation. So this is the bundle here that would probably fix most problems and in a standard home because they have multiple different colors. I went with the low cost solution, just brought one color because I knew what I was looking for.

And this one here happened to come with four or five different colors for 43 bucks. You can get it tomorrow and have it all fixed. You can put the colors together to make the exact color match that you need if it’s a solid color. But it works really well.

Yeah, and it was super simple. It didn’t take me long at all. And then I fixed the tile crack.

You can literally. Yeah, it was amazing. It’s funny that I found something similar for furniture. If you have a a little knick in your furniture. I found these pins like paint pins and stained pins and took it to a client’s home and touched up some cabinets.

So very, very similar. Yeah, I would have to give a five star review on this one myself if looking at it, they have a bunch of different colors, types, whatever. But it appeared to be totally good. Yeah. It’s not noticeable at all.

Problems not find it? No. Nope. In just a matter of a couple of minutes.

It’s awesome. Yeah. So it works for all different types of solutions. Way better because initially the thought was we’re going to have to take this tile out.

And when you take that tile out, the grout is going to be a problem because it’s not going to match. And then we’re going to do this and then we’re not to clean the grout and redo this. And then it’s like, Well, if we can’t do that and that doesn’t work, then we have to replace like the whole floor.

So we’re like, Oh, but how much? $43.

Yeah, well, this. I only bought one color. I bought one color and I think it was 15 bucks for one color. Or you pay $43 and you get like five colors or something. I just went with just the one. Yeah. Let me grab and show off what else they have to say here from their store. They say that you can repair cracks, scratches, holes in chips, right? That’s right. I don’t know if this works on glass tile.

I would say it probably does not work well because it kind of changes the color of the tile when you have a crack on it. So those glass tiles can be tough, but it definitely worked on I don’t know if it was porcelain, cerami

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Wealth from real estate and just a couple easy charts I was looking through and I saw some of these articles and saw some charts and I was like, Whoa, that really shows a lot. So let’s go ahead and split our screen and bring up that bring up the article that we have referenced here.

And take a look, see if we would. All right. So let’s see our charts. We’ll scroll down just a little bit and see what we’re looking at. And the first one here is wealth inequity is rising across America. Inequality is rising. The top 10% have 70%, 76% of the household wealth. That’s crazy.

And then the next 40% have 23%. The bottom 50% have 1%. Wow. I didn’t know that the bottom 50% of all the people would have 1% of all the wealth in the country. It’s 1%. That’s like, really, really small.

Yeah. Like, didn’t really register.

Now it is really crazy. And then here’s the here’s another chart. If we can blow this one up just a little bit underneath it, omkar or find a way to interact with that chart just a little bit. The distribution of family wealth between these different time frames. You’re going to see what we can get here for some interaction and open this up just a little bit. Maybe blow her up. There we go.

You see that?

Well, they won’t be able to. All right. So what we have is the percentage that is with each different. So this shows the distribution of the wealth as it currently is, that the top 1%.

From 63 to 2016. How much of it it has, the distribution of where the money is that the bottom 50% has 1%, and then that the bottom 10% actually has negative money. They have negative household wealth. Negative household wealth. They’re not worth much.

So this is showing where all the wealth is in the country and how it relates to it. And then the next chart is going to show how it relates to real estate and home ownership, because home ownership is a big deal that goes into this. Yeah. And it goes on to talk about stock markets and then owning real estate and owning assets.

Yes. If you don’t own the assets, then you don’t have the wealth and the appreciation.

And yeah, because it goes up over time, an appreciating assets are very important to do. So looking at those, there’s a ton of tax benefits that we’ve talked about. Yeah. Yeah.

It’s just amazing to see when you see a chart that, you know, the top 1% has this much and this is what homes are worth. Why you should buy the home.

Yeah, no matter what. It’s really important. Economic factors are if you can buy a home, buy a home.

Yeah. So 20. That one right there. That chart had some good words on it. If you scroll down, just. There we go. Perfect. So in 2012, the average American home price was 163. It’s closer to 338 now. So it’s up almost 200,000.

200% in ten years. Yeah. And household income has went from 57 to 67000.

That’s it. Yeah. So that’s all people have made the average. Yeah. And not much of an increase in household income now. But your house going up by that much shows how much more you could be making. Right, if you owned a home during that time frame and made $200,000 on your home.

But does it also show that the pay pay increases should maybe be looked at? Well, it’s a real it’s a real asset now.

I think these two items also are doing two things to us. When you get some information, sometimes you have misleading facts and you can make them look like you want. They picked it at the absolute low of where the homes were, and then they picked it at what would be perceived as the high and then also the income correlates to that. So I bet you’ll see incomes going up later on.

So I think we picked like the two numbers and put them over each other and all of a sudden you have this massive thing and it looks very different. But when you have $200,000 of household gain in appreciation over a ten year time frame, on average, that type of money you just can’t make and save.

Can we look at the like, where are we getting this information from?

This one came from broker age

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New features in NTREIS. New features? Yeah. Well done, Shana. That’s awesome. All right, so.

It’s a little. I like this little feature. We’re going to get over to my s log in so I can log in and show you guys just a quick little thing here. But if you are in nitrous and you’re searching for a property and you see inaccurate information, there’s now a way that you can report that just with a click of a button. So let me show you. We’re just going to pop in Frisco here. Now we have to select the city.

Some new changes. All right. So when you’re looking at a property, all right, and you click on it, you’re going to now notice up here there’s a little triangle with an exclamation mark. So if you see that maybe a school’s wrong or somebody has put something in here that you know is against the rules that you shouldn’t do, like no showings for ten days, something like that.

Or you see that you’ve talked to an agent, you’re like, look, they’ve they’ve told you they’ve already accepted an offer and it’s still showing active. Then you can report that. So when you click on the the little yellow button what happened will happen.

Listing data checker dot com. So it has parcel ID. So if your parcel id is incorrect, I don’t know who would know that, but maybe somebody would address verification. This could fall into we’ve had those issues with property following in Prosper or Salina and someone may want it in one city, but it goes by your taxation city and then change in status, inaccurate information.

So if you see that and inappropriate words in the remarks, this is basically for fair housing violations. If somebody is putting inappropriate things that you feel are offensive, then now there’s a button and you can report that. So you could put that information in here. It goes directly to your MLS board and there it goes to the brokers and and the appropriate people.

So you don’t you don’t have to send it to Terry at our mills. You just do it right here. So there you go. So use that, you guys, if you see something, it takes 20 seconds to do. So please make sure you’re doing that and using that button.

And I would feel that that’s important as well because what we have there is the whole thing with being a realtor is having the best database and having the correct information when the information is wrong or you dilute the database or you don’t have all of the data, that’s when the whole realtor thing starts to crumble. Yeah. And when it starts not working. So I do highly encourage people.

And you make sure That you’re. I also want to remind people, you know, and this is what I tell people, I am starting to hear a lot from other agents just because of my position at CCAR. They reach directly out directly to me with these different things and I say, you know what? If this is something that you’re frustrated with or you feel needs to be changed, then send an email, send an email to me, I’ll forward it on.

Or you can just go straight to CCAR, but you have to voice your concerns or your suggestions or your frustrations or nothing happens. So don’t keep talking about something. Take action and do something about it, and that’s going to make us all better.

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Zillow meet tick tock. It’s a new platform called Playhouse. There’s an article on this. I don’t actually have this app installed, but we should take a look at it and see if it’s appropriate for some of you guys. But allegedly the whole idea is for realtors to be able to interact socially with properties and do some different things with it. So I don’t know Zillow.

I think it could be pretty good. Let’s go ahead and take a look at it. Pull up that screen and here we go. So what we have here is this is the app. It’s called Play House. And if you kind of scroll on down through here, what you’re going to see is you’re able to interact with the properties, show it on the screen.

Interesting. It’s a price guessing game.

There’s all different types of things that you can do on it. And so you can play the, you know, the stuff in the background. You can comment on it, you can be in the video, you can do all different types of things with it. You can play music. So I don’t know.

I think it’s something that’s kind of kind of interesting. And I bet it turns into something.

I bet it does. And I bet you have to be. So it’s not just for realtors, it’s for anyone.

But you have to have a Zillow account.

And it’s a way that you would interact on this. And I don’t know, I bet it gets a lot of a lot of views and people that are big on social media, I bet this would work out really well.

So it’s going to show that if you’re listing is on Zillow, you’re going to get more traffic and interaction.

And yeah, no, they’re definitely good like that. There’s no question about it that once you have the platform, you can have all these different types of things.

Interact with it. So I would say somebody should try it out, see what happens, be early to the game.

So these aren’t tickets, anything? Yeah. Are there any people out there on TikTok right now?

I, I vote Kaylee and Ragan. Try this out. They’re good. They’re good at talking.

Let’s see, there’s a video here we can tap and play that one, too. It happens. Yeah.

Let’s see it. Nailed it. Well, there’s not much that happens. That said, after playing the game. So it’s like they tease you with something and then it goes away. I don’t know. They’ll build upon it, I’m sure, and it’ll be a thing. So awesome. All right.

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Frisco - Hwy 380 overlay district

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Will owners be taxed out of their homes? What? I don’t know. Could it happen? Property taxes are going up. The statements came out there in your mail. You received them, you looked at them and you like either had to put on glasses to, like, double check and see what’s going on. You know, Aaron Rodgers has a discount double check where he checks your insurance just to make sure that you have the best insurance possible.

So you have like the property tax double check where you’re like, whoa, I need to put something on here to make sure that’s wow, that’s the right number. I’m going to be paying that much. Interesting. So you’ll be getting a lot of calls and discussions about that.

And will people actually be taxed out of their home? Think about that one, right? With all these things that are going on and we have inflation going up and it’s like through the roof and how much is it going to go up next year? 20%, I say. Yep. 20% is my number that I think inflation is going to go up year over year. Over the next 12 months. I think we’ll be up 20% with everything considered, which is a lot.

And I think homes are going to go up by that same amount and then all of a sudden we’ll be totally scratching our heads and we’re like, wow, that’s really crazy. So are they people going to be taxed out of their homes? I’m not sure.

So how much money does the local government really need to run? I don’t think they really need any more than they currently have. So then they have to keep the actual amount that they tax you the same, plus inflation. Right. And they should all be good. And hopefully that’s exactly what does take place that your actual amount you pay to them over time doesn’t double.

If your property taxes go up in value or your property goes up in value and your property doubles over, you know, a short period of time, what in the heck would the government do it? Twice as much money, right?

So I think what they’re probably end up doing is changing the millage rate, giving a larger deduction, having maybe more investors pay for it as secondary property owners hopefully help out the people that actually live in their own home, you know, and raise the the minimum cap for for homestead exemption and raise that considerably because there’s no protections for investors as secondary homes.

So what that ends up meaning is that investment properties are going to be really, really taxed. There’s not like a cap. It can go up, there’s not like deductions for it. And then when that tax rate goes up, you’re going to see rental rates skyrocket and then we’ll have a problem there.

So we’ll figure that one out when we get there. But yeah, I see inflation going up dramatically and as well as tax inflation.

So when your property goes up in value in your taxed more, then that also is a component like the increased taxes, also a self- fulfilling prophecy that adds to the inflationary index. So now you’re paying more for and it just continues on. So I don’t know when like somebody hits the brake and this inflation stops, but I don’t know that it’s happening any time soon.

So my prognostication is 20% inflation for the next year, one year from today will be up another 20% from where we’re at. And that does cause a whole host of challenges. And I do hope that we come up with some property tax reform because like, it’s just not going to work.

People’s property taxes going up by so much. I did get a message the other day from Dr. Blake Bennett of Texas A&M. He’s been a guest with us here multiple times. And he’s a very smart man. And he did confirm for us. That people who own their property can file a homestead exemption as of the first of the year after they purchased the property. So then they file this homestead exemption, but then your property cannot go up in value by more than 10% once you filed your homestead exemption.

Okay. So what does that really mean? So what that means is if you purchased a property today. Okay. And then you file your

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What is trustless? trust and then less like like no trust. Zero trust. Like we don’t trust anybody. And what is that as it relates to real estate? So the way that we’re currently doing things is we’re like kind of in Web 2.0 in the early nineties.

We’re in Web 1.0 where we had all these static web pages and then we went to like the centralization of things and we had these big tech companies that we. I decided to trust and they could like track us and do all these things. And it was all the stuff was centralized.

And we have like huge monolithic companies that are in charge of everything and we adopted to like trust them. Then we decided like now we shouldn’t trust anybody going forward. So if we talk about like the new version of the Internet, that’s kind of going all around and it’s going to take a while to adopt.

But it has this concept of being of not trusting a certain person and getting rid of the centralization of certain things. So how does this relate to you and why is it important to real estate? So the concept of not trusting this single entity is going to come down to something very, very similar to kind of like Zillow and real estate.

So Zillow came out and Zillow buys showing time, right? They’re showing service. They’ve also bought like a whole bunch of other companies. But what they did is they keep acquiring these companies that we trusted. And what we did it was really, really a funny thing is we’re like, all right, we trust you look fine. We trust you. And we’ll give you this and we’ll give you that.

We’ll give you data and we’ll share and we’ll do. And on its own, none of it seemed like a big deal. Right? Like we’ll allow you to schedule our showings, we’ll allow you to finance the buyers, will allow you to have this part of the transaction. We’ll let you do this. And then all of a sudden, what happened is the companies bought up all of them and then put them under one umbrella and then shared all the data behind the scenes.

Right. And then sold it back to us. And it felt really bad all along the way. It was like, Oh, that feels a little dirty. Like, Oh, I really don’t like that. It’s like, that doesn’t feel good. And then all of a sudden it all comes together, right? And then you look at the whole package and you’re like, Whoa, that is gross. What are we doing? And it just feels really bad.

So that’s where we’re kind of currently at is we gave all the stuff to like one person, now they have it and we’re like, Oh, that’s no good.

We need to do something different. We need to take back this power, this control, and we need to go like peer to peer, and we need to be the ones in charge of our own data. And like, do we get to sell our data now if you’re going to be using it, like does that have a value and there’s something there, but like, so we don’t want to trust anybody going forward kind of with all of this data. Okay.

And so now we run into this same thing like Zillow, and we’re all of our data is in these the big, huge data companies like CoreLogic. Maybe you’re starting to have too much power.

And CoreLogic goes out and they make all these different announcements and they make these moves over time and they integrate with this company, and then they do this, and then they have the property data, and then they have your personal data, they have transaction data and the title company integrates with it, and you can pull flood data and then all of a sudden you can get insurance information and like all the same stuff starts to come together and you look up and CoreLogic is essentially becoming Zillow, but from the other side, but they’re getting the information in even bigger volumes. In their trusted by larger organizations, then we are currently trusting Zillow.

So it’s like every one person is trusting Zillow, but CoreLogic they’re almost like ten times the enemy because they have larger trusted people that are sending them data. And then you see they’re like, well, we bought homes, we have L

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Let’s talk about topic number one, gardening, survival basics. How much land do you need? To be able to survive on your own and plant your own food, but only eat vegetables. So I have an article here that links to it. We’re going to go ahead and reference this article, but we’re going to just kind of talk through this.

So if you have people that are hearing now that we have this impending food crisis and food prices are going to just spike and we have all this going on in other parts of the world, and then these like domino and supply effects and all of a sudden, like food is going to be a problem and you’re like, I’m going to take care of it on my own, and you are going to go ahead and plant a garden.

But like no beef because it’s going to need like a lot of land, but you’re only going to eat vegetables and like stuff like that that comes out of the earth. How much land do you need? All right. So here we go. So if you’re going to 100% survive on this, you’re going to have to have a super dense, great garden and you’re going to grow like just hello food and you’re really, really enjoy it.

So and you’re probably going to have to be really good at it and you’re going to have to not let any animals eat any of it. And it’s going to have to be like, you’re going to have to like store it. There’s a lot that’s going to have to go on, but you can do it. So in this perfect scenario, we scroll on down and there’s actually an amount of space that you need. So what is the necessary square footage estimated that you need to have 4000 square feet per person of like this super dense garden?

Oc. And so now we like. And then you have to be a gardening guru. And be really good at it. So 4000 square feet. So it’s like maybe the size of an average large house around here.

All right. And that’s per person, but not just the first floor, but the second floor. So just imagine that and then play it out. And imagine there’s four people. So you need 16,000 square feet. An acre is 4000, 42,000, five, 63, 60, something like that on a 42,000 square feet and change for 200 by 200.

So you’re going to need, I don’t know, an average family close to half an acre for just planning your food and having that work out. Now, I would love to see if somebody could actually do this on half an acre. I’m saying, no, you can’t live for a full year with your family on just half an acre. So if somebody wants to try it and tell me that I’m wrong and go ahead, that’d be great fun for you.

But I’m saying you can’t live off half an acre for a full family for a full year. I’m just like, nah, and only live off of that. But if somebody does it and proves me wrong, I’m willing to hear. But now we know. So there’s all different types of calculators. And you can look at this and you can have great gardens, you can have like bad gardens, and you can have them work all these different ways. But at the end of the day, you’re going to need some space.

So move your clients out a little bit further, give them a big garden, maybe get rid of the pool, apparently, because you don’t need that.

If you’re going to need to survive, you’re going to need a garden. There’s a real estate news for today. See you next time.

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Real estate development in Collin County. And how do you go about doing it? We have a nice PowerPoint presentation from Collin County, from Tracey Field, Rumsfeld, Rumsfeld, whatever it is, assistant director of engineering covered this one and this is a course that was put together so you can get some information on it.

And I just figured we would go ahead. Maybe, you know, somebody that has land or you want to find somebody that has land and you’re thinking, huh, how can I help them? Divide it up, chop it up, sell it off and get your all of your clients to a property.

So this is covered from September of 2021, has all this information and it was shared over with us. So we’re going to go ahead and share it. So what is the subdivision of land? Right.

So Collin County is the division of a tract of land situated within Collin County and outside the corporate limits of any municipality into two or more lots, parcels or tracts for purposes of sale or development and or for the purpose of laying out roadways, alley squares, if you’re into squares, parks, public utility easements, public right of ways, private ingress, egress easements, drainage and stormwater improvements and or other parts or tracts.

Why am I reading this whole thing?

I don’t know. But the point is, if anybody is going to subdivide, it must be replanted. You can’t. There are exemptions and I think it’s if you have ten acres or more, you don’t have to. But if you have less than, then you have to.

So there are some exemptions. But pretty much you’re not going to fall into that. Right. Are you going to read this to us? No, I’m not going to. I’m not. Yeah, there’s a map.

But it is nice to understand, you know, who regulates that, like us and our McKinney property has we’re in an J and there are different regulations for that because we don’t fall under the city regulations, so we fall under the county. So it’s it’s interesting.

And then if you live outside the bay, then there’s other things. If you’re not even within that. Right, you’re in some other areas of land.

Then there are other regulations that go along with this. There’s stuff to do with flood zones and what’s going on there. Yeah. And so anyways this is kind of what it covers here. So if you’re a lot is less than one acre or larger than one acre, less than 150, then it kind of tells you like what type of roadways you need to have.

Yeah, these are things as realtors you may be thinking, oh, I’m just trying to find my buyers a home. These are things that add to your realtor tool belt that make you valuable. And these are things that you need to know.

Other things, you know, we’ve talked about like the closing, the deeds, the things that maybe you’re not 100% involved in, but you need to know so you can spot an issue or discrepancy or explain to your client if all of a sudden you get to closing and they’re like, What is this? And you don’t know it’s a problem, right?

There’s just different terms that you would pick up that you’re not sure of, is a term that you might not run across often, but it is nice to actually know what it is.

So I think taking time and reading through these things, you know, I just saw something on there. If you need a septic system, what do you have to do? You just put it in. No, there’s regulations for everything.

We’re just always trying to give you information from different places so that you have it and then you can do something with it.

And if you guys research and read something, share it with us, all of us. So we’re all informed, right? ETJ stands for Extraterritorial Jurisdiction.

Now something else that goes along with that, you know, when you’re in the county but not in the city. And I just figured this out the other day, it was kind of crazy is when we have an Amazon package shipped. And if it comes to our our place in Frisco, it’s taxed at the normal rate. So for example, if you sent something for if you purchase something for $100, we’d have the normal tax r

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Prosper protests 380. They’re not happy about it. Well, nobody’s happy about it.

But what they’re doing, Shana, is important. They’re organizing, putting everything together and showing. Visually that they’re not happy with it. I have a link and we’re going to go ahead and share this and show it off.

It’s like you. If you have a problem with something, bring a solution. If you’re going to complain, then complain with a solution.

Yeah. So this article comes up and it’s about Prosper and how the whole city gets together and they have a clear message. They’re like. No.

And it’s hey. But that’s kind of a simple message, right? But they’re showing it and getting together and people are taken. People are taking notice. All right.

So let’s see kids eating snow cones, adults peeling crawfish and twisted sisters. We’re not going to take it anymore. That was really crazy, right? So they all got together and they said no and they’re protesting and they’re using their their, you know, their local colors.

And they’re saying, no, we’re united and we’re not doing this. So what they did is they got together and this is what I’m happy about, is they said no. And what you said is they provided another alternative, right? The alternative they actually proposed was like, hey, look over here. Right. So there’s an old.

These old homes just they need to go away anyway.

Yeah, there’s an old phrase that says, if you don’t like the current conversation, change the topic. Right. So you just like they just changed it. They’re like, hey, let’s throw another variable in there and see what happens. So like, how about we just revisit one of these other ones you currently are showing option A and B, how about we go back and go to like an old one, right?

So they’re like clearly against option B and they’re very, very good and they’re like, but if option H is not an option for you and it’s not going to get chose, then how about you look at some of the old options that you had? Like once it went right through Walnut Grove, which happens to be the neighborhood that we have property in, in McKinney and Mike Shephard’s in, and we’re like, Whoa, wait just a minute.

So they tried to throw that one in there right as part of it, but they were organized and then they said, let’s change the discussion. Let’s give another option.

I don’t like to consider you like that. I don’t like that. I don’t like. When people will throw another person under the bus and try to you know, I never in favor of throwing a person under.

The bus, but, you know.

In fact, that’s why we’re married, right? I guess. My I saved his life. That’s right. Early on, I saved my life. I don’t know if you all know that story, but. Yeah. So anyway, I. So home ownership is one thing, right? And I think that we have to go back to the very beginning. This road was put in place to bypass downtown McKinney. Now we’re way up here, and I get it, but.

380 is three 8380 was planned. It’s a road now. Why are we deviating from that? I don’t know. That’s that’s my thought. I want all the homeowners to be protected. And something you guys may want to follow in the next legislative session is eminent domain and the taking of one’s land.

So that is a huge push by Texas realtors to really open this up and look at it and and protect homeowners and landowners specifically from having this type of thing happen.

So this is currently one of the largest real estate topics around. Right. That people are discussing and look how many people this directly affects. And so there’s a lot of people that want to know about this, a lot of people that will have input in a lot of people that their lives could be affected by it, and specifically the real estate and the values and what they have and what’s going on.

So that’s why we kind of discuss it. So Prosper did have this. They got to organize. They didn’t like it. They came up with a clear message. They branded it and put it out there and moved on and then.

Said, Hey,

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parallel between car inventory and home inventory

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NAR. There’s a lawsuit against you, and it just gained class action lawsuit. Class action status. So I do have the article.

I’m going to reference that and we’re going to just discuss around this topic in the event that any of your clients start to ask you about it or you’re concerned about like, where’s a future, what’s going on?

And I’ll talk down some of these like rabbit holes of what could kind of happen with this whole thing. And they’re coming after your commissions in this situation, but not like actually you, but like maybe you. I don’t really know what’s going on.

So let’s go ahead and share the screen here and we’ll reference this article and drop it in for you.

So is your brain exploding agents? Brokers are all torn over this whole thing. So what’s going on? If we scroll down through the article and I’ll let Omar control that and scroll through as I discuss it, what’s basically going on here is there’s commissions, there’s a buyer and a seller, and then we have the buyer’s agent and the seller’s agent on both sides.

Right. And there’s a commission paid out in the typical situation.

So I’m not going to discuss the exact commissions or any of those things and have any violations here. But essentially what happens is when you do a listing, you agree with the seller on what’s going to happen with the commissions that there’s going to be X Commission offered to the listing agent and X Commission offered to the selling agent and you fill it in.

It could be a whole number, it could be a percentage, could be like, whatever these numbers are, you fill them in, there’s blanks for everything and it’s agreed to contractually.

Right. And you say this person is going to represent them in this person, going to represent them, and here’s how this is going to go. There’s all these boxes, you check these boxes and agreed to what’s going on. So the listing agent does that and inputs the data into MLS.

So what this lawsuit is claiming is that they should be able to go back and, you know, because the buyer paid an artificially high price for the home and their claim is the buyer paid an artificially high price for this for this for all properties over the last eight years, because the commissions are being paid by the seller and not by the buyer.

And with doing that, what happens is the prices are allegedly higher and they want all of the commission that was paid to the buyer’s agents, all of it over the last eight years, to be paid back to the buyer. So it’s a class action lawsuit asking for all that commission money back over the last eight years. Now, that would be like a crazy high number, right?

Imagine all the buyer agent commissions over an eight year time frame. And then how do they get that money back? And like how and why? Because there’s already, like, an agreement. Contractually. That said, the seller is going to pay this commission and here’s how.

And they entered into it and signed it all independently. And so this really goes down these weird rabbit holes, because if they let this actually happen and they sue. Well, I mean, honestly. Right. Think about this.

Over the last eight years, do you have 100% of all the money that you earned sitting in a bank account that like, oh, man, I thought I might get sued someday. I would just pay that all out. So, like, nobody has that money, right? So fundamentally, what are they trying to go after and how that works?

So then if you’re found liable, like there’s this class action lawsuit against all buyers agents, that the house is too high, like you have to pay this money back.

Well, then you would go after and sue. The cellar, right. And then the cellar wood. It’s just like this rabbit hole of, like, who sues who and like, who tries to get this money back. And then you would suit the seller would sue the bank because the bank over like this whole thing just goes in a circle of what’s going on.

And then do they really want all of the buyers to go unrepresented? Because

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Make your real estate business go from GIGO to VIVO? Yes. What does that even mean? So GIGO is garbage in. Garbage out. Think about it. Garbage in.

It is something to think about. In focus as independent contractors. Think.

GIGO to VIVO. Value in. Value out. And how are you tracking these key metrics so that comes back to your database? Right. So my question to you is, agents is what is important to you? What are the key things that you do as an agent that matter to you specifically, not me, but to you?

So are you one of the people that say, you know, what I need to do every day is I need to call ten people. I need to knock on three, right? I need to meet two new people and put them in the database. What are your key metrics that sustain your business?

You have to put some goals in place.

For that, but what makes it work for you? Everybody is totally different. Some people could say, I need to volunteer so many hours because when I volunteer it works myself.

When I was originally working in the beginning, it was I needed to volunteer and be the coach of every team that our kids were on and somehow that resulted in business. I never pushed it, but every season we’d get more.

Business, family goal. Like, what did we want to do? You could tie it together and what did we want to do and be yourself.

Know, if you’re if you’re in business for yourself, these things should all be part of of you. Right? And you should be working on it alongside when you’re you know, you have your family time and you have these things you need to separate. But at the same time, you know, no understand opportunities.

When there’s times when you step back, can you ask for clarity in your life and you want to pursue something? And you’re like, My life would be better if. And then you just sit and ponder and think and I would be best if I did this right.

And then you can find the business and create it from there. If you’re true to who you are and your you are your best self, then you will attract and you’ll get. But at the end of the day, what you have to then find out is how is this? But what are the key metrics to report on?

So the question then becomes agents. Send me an email with What are your key metrics that you need to track for yourself?

Yep. To relate. Each one of you. We want you. This is an action item.

Send me personally an email. And if you feel comfortable, you can copy, Stace. You can copy, Shauna. Right. To hold yourself accountable. But to say for your business, I would be successful if and when. Right. This is what’s important to me. And you’re going to move from giggle from putting garbage in, garbage out. So think about before this conversation. Were you putting all that information in the CRM?

Were you tracking it? Were you doing any of this or were you running reports on it? Were you putting the stuff in? Right. So if you’re not, then you’re not putting information in, so it’s garbage in, so you can’t report on it. And I want to help you move to vivo value in, value out. And what essentially that means is we need to track some of the things that you’re doing that are important to your business.

And I want to help you out. The main reason this question comes up is we are making some some adjustments into our new system, our new CRM, that we’re moving towards the myki system. If you’re not totally on board with that yet, we’ll fill you in. Is it is it rolls out. But our custom CRM we’re moving towards and I need to know what fields are important for you. Right. So but it comes back to you first.

What are you doing? How are you going to be successful? And then once you do that, you establish what are the key metrics I need to be put new people in. So Mike, run a report for me every day or every week and tell me how many new people did I put into the CRM with full information? And it only counts if I put name, address, phone number, email, whatever. Right?

Did I send them off on a search? Like what are the key things for

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Metal Survey Stakes. How were they used for four surveys and what can that do for you? What we’re going to do is take a look at what this is all about, show you how you and your clients can have a long term solution that works for them instead of just having those like pink flags all over the place.

And if somebody goes along and moves them, what does that look like and how can we do that going forward? So let’s go ahead and share my screen and go over and highlight this link for us here and show that off if we could. Omkar. Now. I think he’s having a connection problem.

Let’s go to Talking Head screen and there we go. All right. So here we are. Survey markers. These are how you can purchase them on Amazon. They are $32.99 for four of them. It’s a four pack. And what happens with those is these are items that you can actually take and insert under the ground. There’s a great example of this. I’m going to take control of the mouse here and show us what these look like.

So when the surveyor comes out and puts those pink flags out there, those are only going to stay there so long. I would strongly suggest that you go out and replace them with something just like this. It makes it nice and easy. I’m going to run this quick video and show you exactly how this gentleman goes about doing this.

So let’s hit play on this. We’ll see how he puts them in the ground and how that all works. It’s super short. And and we’ll finish this topic up. So here we go.

Hi, I’m Will with Seaside Supply. Today, I’m going to show you some installation tips for a patent pending low profile survey. Steaks, they’re all hot tip galvanized to protect against corrosion. And we have some models where the heads are painted for increased visibility.

Depending on your soil type, there’s different ways to install them. The easiest method is you can take it and start it in the ground and then you can stomp it the rest of the way in with your foot. If you have a rubber mallet, you can simply hit it with a rubber mallet and install it. If you don’t have a rubber mallet, all you have is a metal hammer, just like you wouldn’t want to hit a painted bicycle or automobile with a metal object.

The simplest thing is just to take your packaging that the state came in and roll it up and put it over the painted head while you hit it with the metal hammer to install it. The stakes have tons of uses for all fields, property, corners, septic drain fields, underground utilities, etc.

Now we’re going to get the lawnmower out and mow over. One last tip is that when you install them, kind of make sure they are where you want them because they do not come out of the ground as easy as you think. You’ll probably need to take a shovel and pry them to get them back out of the ground. Thank you. This product has hundreds of uses and will be around for lifetimes.

Well, that’s good to see. They’re glad to see that gentleman.

Hi, I’m Will with Seaside Supply. I’m going to share with you some advantages of our patent pending low profile service days. They come in two models. We have a six inch model with approximately two and a quarter inch head, and we have an XL ten inch model.

Make sure that you have the lasting impact here. My guess is you need more than four of them. It’ll help you locate those lines and put a permanent thing down. You can then go back years later and find them with a metal detector and make it nice and easy on yourself or just kind of know where they are.

But it’s nice and permanent people come by and as soon as they mow the lawn, they move those, you know, the stakes and then you have yourself a problem. So another way to find it is to use an X on x is another way that you have your property boundaries.

They’re pretty close, but this is a little bit more accurate. Just don’t waste the money that you have from the survey stakes and make them permanent. Highly, highly suggested, ladies and gentlemen. And we’re done with that topic. See you.

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Loan analysis. People are asking you, should I buy now?

Interest rates are scary. They’re going up. Should I wait? Should I? What’s going on here? So the classic case of interest rates are high. I shouldn’t buy now. I need to wait. That’s a concept that people make based on interest rates.

But there’s other variables. If that was the only variable, then that would make sense to wait based on that. But let’s go ahead and do some calculations.

So we’re going to split the screen and we’re going to show off a mortgage calculator, and we’re going to make some decisions based on that because your clients are going to be asking you these things, right? And I’m going to go ahead and take control and see if we can go over.

Here and see what we got so the first thing thatmI’m going to do is look at maybe what a standard home in our area used to be.

So I’ll put in 350,000 for the average home and interest rates were lower. So I’m going to put in 3% here.

And I’ll show you what your payment would be. So we have roughly a $4,500 payment on a property that ism350,000. So that’s maybe where we were before.

Now, as we fast forward here, we have a different set of circumstances. So what’s happening is interest rates are going up.

So let’s put in a higher number here and see what happens. So now on its own, we had an increase in the payment because we simply changed the interest rate. Now all we did is we kept the loan amount the same changing interest rate. Now our payments higher.

And that’s what most people look at is they’re like, well, it’s going to be much more expensive, but there’s other variables. And the other variable.

Is the fact that what we also have going on is that the value of the home became more expensive. So let’s take that same house and put some numbers in here and say that it goes to 500,000. Now the payment goes up even more because it became more expensive.

And then this is what people talk about with home affordability.

That it’s a difficult thing. And who can afford this now that the payment went from for that same house and went way up to here?

So I do understand that and then people are worried that in the future we’re going to have a higher number nonetheless. So now we’re going to have like a7% number.

And this is going to go up. But if you simply wait for the interest rate to go back down or hope and wait, then what you miss is something like this.

So what we’re going to have now is the value of the home is continuing to go up and appreciate. So what you’re going to have is if you do wait, the home is now going to cost you probably 700,000 later. And then you can wait for.

The interest rate not to be a number like that and you can wait for it.

To go back down to something like 3% and you can wait on this higher number now in your monthly payment will be less because interest rates are less. But what you’ll have is a higher loan amount in your balance will be more in. What you simply missed out on is all of the appreciation with the property going up in value. So what are you going to do? You’re going to be sitting on the sideline and miss all of this price.

Appreciation because you want a lower monthly payment. What you need to be is you need to be in the market as it’s going up, right?

So you need to be buying more and more and more. And by doing that, you’re actively participating in the price appreciation and the balance going up and then that money goes into your pocket. It’s really hard to save and accumulate wealth, but real estate is one of the best wealth builders there happens to be.

So it almost is irrelevant of what the interest rate.

Is. It goes back to more of what did you actually pay for the property and what did you sell it for, right? So everyone right now was like, I really don’t care what the interest rate was before because now my home is worth more. So just think about that one.

When somebody asks about interest rates, talk more about pricing and price appreciation and

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Inflation in historic, historic world events all kind of lined up in one neat chart. We’re going to discuss where we’re currently at with inflation. We’re going to look back in the past and see what was at. We’re going to overlay some world events on this and it will trigger some things in your mind. You’ll see how the economy did.

How it recovered. How long it lasted, and learning from these historic events. Maybe you have some more information to look forward because we can’t predict the future, but we can learn from the past. So I have a link for you and we’re going to chat, add in and then we’re going to go ahead and split the screen and show this off.

So I’m going to take control of the mouse here for us on the car, and we’re going to go over here and take a look. So this goes back all the way to 1929. So I’m going to take a moment and get you a little bit comfortable with what you’re looking at. Maybe we make.

The screen just a little bit larger. If we can Omkar. So it shows up a touch bigger for everybody. I’ll let you go ahead and do that. Nice job. And now what we have is 1929 is when this chart goes all the way back to OC and it shows the inflation rate.

Which is year over year and then we have the business growth cycle, the GDP growth, like if it grew or contracted. And then the world event that went on. So this goes back to 1929 and during that year we had a historic stock market crash.

So we had a market crash. And then down through here, as we go down the list, it shows different inflation rates.

So we actually had deflation during these years. So it deflated by 6% by 9% by 10%. That’s a lot of action here and a contraction in the economy. And if you can look at this, could you imagine living through something like this where there’s the stock market crash and then the dust bowl like back to back? If you think what you’re currently going through is crazy, add on like a dust bowl beyond that and then see how that feels. Right? Like do that like back to back years.

And see what’s going on. That is really crazy. As you continue to go look through.

These numbers after that kind of gets all situated. Now we go back to some normal expansion with inflation and we’re at 3% and under and the economy starts growing and then we have the depression resuming over here and then the depression ending. The Dust Bowl finally ending. Is that a crazy amount of time there? Did anyone realize the Dust Bowl lasted that long?

All right. That’s some crazy stuff. That’s a lot of hard times. And then you’re like, oh, what’s going on? Oh, Pearl Harbor starts.

Then let’s start a war. A world war and these things just continue to add up. There’s a lot of things that happen in the world. And then we did have a couple of years of inflation, almost 10%.

9% right after this World War event where we had to start doing some stuff there. Then we went back to kind of normal.

Numbers, but then we have some crazy 18% and 8% and then it goes right back down to 3%.

So we normally don’t stay at a super high number for too long. It normally does become under control. And we had some Cold War spending here, World War Two ends, and we had an expansion here of what was going on. Then we go back and we have five, 6%. 0%, and these numbers through here aren’t all that.

Crazy. We just have some normal type stuff going on. Nothing that seems all that absurd till we start.

Looking at it. We have other events going on, the moon landing, right? So the moon landing took place here we have recession, price controls. I don’t even know what that is. Stagflation, not sure exactly what that is.

Gold standard. You know, did the gold standard ended in 73? I didn’t know it was that short of a time frame ago. But we did have inflation right after that of what happened.

8%, 12%, 7%, 5%. 6%, 9%. That’s a lot of inflation right through here.

So as soon as we got off that gold standard, we did have massive inflation for a real prolonged time frame.

That

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Property tax bills are out. And it gets me to thinking how much should property taxes really, really be? Right. So we had a budget shortfall not too long ago and we didn’t have enough money with our local government, with the economy kind of having a problem.

I think it resulted in after like 2007 correction and prices coming down and we had all this stuff going on and then it got to this level where we had problems, right?

And people had to do things and they had to like tighten their belt in the schools. I remember going as far as a school district, they were like, we need to do things a lot better. And they had things going on like, let’s not mow the lawn as often and let’s have the sports coach mow the lawn. Yeah, right.

And you said that earlier and I was like, What? But now.

Yeah, I remember the coaches. I remember the coach out on the mowing the lawn and it kind of was his time where they had people that had to get off of being fat and happy and come up with a way to just make things work. Yeah. And it happened. Yeah.

And I’d say we were frugal then. So now fast forward to where we are now. Home prices have went up like crazy. We made it work when everything was as price. And there is this much tax money coming in. Now there’s this much tax money coming in and it looks like it’s going to go to here.

So my question really is how much should property taxes really be? How much should every person be chipping in? Right, because my taxes are paying for schools and for those things, but a good amount of it is paying for like police and fire and EMS, all those like things here locally for my ability to go to the park and I can consume so much as just one human, but it is a lot more money. But do they have more expense?

I don’t know. Do we have more parks now than we did before? Like twice as many. Are things gold plated here now? Now that we have twice as much money. Right. Is a DMV like amazing? Now, are all these things that great or do we still hear the same things? Do we fight with local politicians on things like getting building permits done in a timely fashion? Right. Is that make sense?

Or do we still have the same things going on as we did before? So should we be demanding a lot more if they’re taking that much more right and have that if their budgets just like ballooning. And they made it work before. So I propose to you $7,500 a year. Is how much I think taxes should be for your property taxes if at the moment everybody. At the most.

So you’re saying cap it at 7500?

Yeah, I’m kind of looking at it like, how much do I consume? Right. Mm hmm. Because it all comes back. If property taxes go up that much on people own properties, then they go up on the rental community as well. So it’s looked at upon that, you know, all of a sudden that is just one of those things on people who own homes and it’s like, yeah, tax them, they deserve it.

But then it also it’s the same thing. It’s just reflected in the rental rate really quick and you know, somebody’s renting is going to be disproportionately impacted as much. So any time that you raise those types of things, it’s going to be a problem on everybody.

So I think Texas is one of the. Leading states with the highest property taxes.

I don’t know, because. Yeah, there’s no state income tax. Right.

Which you know, that it’s kind of strange because you would think that that’s where wealthy people would live. More extremely wealthy. Ultra wealthy people would live here because they don’t have that. But then they have, you know, then it equates in their property taxes being astronomical.

So. Well, I think it puts a real, real cap on how big of homes people build in, what the value is. And it really actually changes what’s going on. Because if you think about a person who has uber wealth and they could build what they want to build and right like pay for it, if you’re taxed like ridiculously on that property, then it becomes too expensive and it becomes like impossib

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Frisco name the safest city in America. Wow. Followed up by a city that’s super close to it. That’s number two on the list. We’re going to figure out what that city is here in just 1/2. So let’s go ahead and think about this. Right. Like safest cities. What’s going on?

Yeah, safest. All right. So let’s take a look at the list here. Let’s go ahead, Chad, in this link and put it over. Bam. Here we go. Mckinney, Texas, name number two. Safest city in the whole of America.

Mckinney, Texas. Thank you, Jean, for sending this over. Appreciate it, Jean Scott, for sending over some information. Yeah. And we’re going to go ahead and blow this up. Let’s stop can see some.

Additional four and five is California.

Yeah, super safe there because everybody left can move from there. There’s nobody there to write these down.

We need to I don’t know about that. Santa Clara, Sunnyvale, Glendale, Mcallen. Plano,Texas.

Number nine when I was in in high school, one of my friends or acquaintances, I guess, moved to Plano and I was like, Plano. I was thinking like plane, you know, the lane Oh, like Plano. I thought that was the weirdest thing. But yeah, they moved here.

Well, there you go. Looks like a lot of Texas is on the list. College Station, super safe. Send your kids down there.

Because they don’t location, steal or tolerate anyone who does. I know. I like the last part. That’s, like, super, super.

All right. So what I’m going to also show you guys here is within the stats. I like this one, California.

I know. So looking within these, I’m going to take control of the mouse and get us back up to the top here. And what I’m going to look at are some of the stats within this.

Yeah. So what we have first is the rank and then the city. We have violent crimes, property crimes, vehicular vehicular mortality, drug possession, percent. This is what I wanted to look at. Percent of the population engaged in excessive drinking.

This is just like a stat that I was like, whoa, where did this one come from?

Well, that means you’re drinking and driving and. But that would go back to the vehicular. I don’t know.

But I just looked at that one and I was like, That’s crazy. So who would have thought that the percentage of population in Frisco that’s engaged in excessive drinking is 18.66%? That seems higher than I would have thought. I know what’s considered excessive.

Okay. I don’t know. Yeah, I don’t know. Can you scroll down? Is there anything higher like Frisco and McKinney? Yeah.

First go to McKinney. They both like to drink equally. Yeah. There’s another 18 in North Carolina. 18.66. The same Plano. All the same. Numbers thing to me. That’s really interesting.

Oh, wow. College Station. What do we got? College Town. Oh, I don’t know about that one. That’s so fast. It’s a College.

Station. Drinking, I would say. There’s nothing to do there. Irvine, California. Wow. Was in Virginia Beach, Virginia.

Where to go? Virginia. Oh, all right. Anyway, so that was I don’t know. That was just a stat within a stat.

Yeah, it was. The lowest is for excessive drinking. I don’t know. Probably I’m not going to say 16. Santa Clara. Okay.

So calm down. You all quit binge drinking all the time during the day.

What if that went up? Raise your hand if you drink during the day. Megan Hours is 4%. Wow. Wow. Megan I think the four.

You need to start a new trend. You need to. What did you say? I think that’s for something different. Oh, what was that for? What’s a 4% sales tax? Oh, sales taxes. My guess they’re on city sales. Tax not or. State sales tax. Excessive drinking. 4% of the people in Wyoming excessively drink. All right. That’s cool.

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Digital Real Estate, The Metaverse Nfts. I have a video that explains it a little bit better than I think I have previously, and maybe that helps out. A lot of people have been asking questions about this, not just to me necessarily, but I’ve been hearing a lot of chatter about those couple of words and what’s going on and just the pricing and is it a bubble and whatever and who knows?

So we have a video from CNBC. We’re going to go ahead and click on that and play it. Let’s pull it over. We’ll give you the link and see what happens.

Well, the real estate investors are paying millions of dollars for plots of land that don’t even exist. It’s come to this. At least not where you and I can see the land there in the metaverse, the virtual reality space where a digital private island can cost as much as an average American home legitimately on the land rush where there is no real land. Here’s CNBC’s Andrea Day.

So where are we right now? We are in Decentraland right now.

I’m in my home in New York and Andrew Kegel, a crypto entrepreneurs in Toronto, Canada. We’re at Amnesia nightclub in Decentraland.

But we’re together virtually in the metaverse. That’s me, that’s Andrew. And there’s my producer, Chris, with the Mohawk.

This is the museum district. So what is this place? It’s a digital world where you interact with real people, but as cartoon like characters called avatars.

Andrea I think you need to save that for the club district. Really, the metaverse is the next iteration of social media.

But there’s more here. I will take you guys to some more interesting areas.

Major artists are performing here like Justin Bieber. You can go to a carnival, you can go to a music concert, you can go to a museum. All types of different experiences that you can explore and get immersed with.

But what has some investors paying millions to grab a piece of the action? Digital real estate.

Prices have gone up 400 to 500% in the last few months.

Kaggle is showing us around one of the hottest worlds in the metaverse right now called Decentraland. So hot. His company recently dropped nearly two and one half million dollars on a piece of land here.

Another hot world in the metaverse, the sandbox where Janine Georgiou’s company that invests and develops virtual real estate just spent more than 4 million on a parcel of virtual land. That transaction breaking records.

The Sandbox is probably the second most popular blockchain metaverse today.

Her company sold 100 virtual private islands last year for $15,000 each.

Today, they’re selling for about 300,000 each, which coincidentally is exactly the same as the average home price in America.

So why the digital land rush? Real estate broker Oren Alexander explains The digital world.

To some is as important as the real world. So it’s not about what you and I believe in, but it’s about what the future does.

And just like property in the real world here, it’s also all about location. There’s areas when you first go into the metaverse is where people congregate. So those areas would certainly be a lot more valuable than the areas that don’t have any events going on.

It’s those heavily trafficked areas reeling in big spenders here in the sandbox. This piece of land with Snoop Dogg’s face on it is owned by the rapper. He’s building a virtual mansion on it and talk about location. Someone just paid 450 grand to be his neighbor.

I think it absolutely matters who your neighbor is. That’s kind of true of almost anything, right? It’s like a club and you want to be around people that share similar interests.

Buying land is pretty simple. You can buy it direct or through a developer, but you’ll need to build on it and make it interactive.

You can decorate it, you can change it, you can renovate.

It’s code. But there are critics.

I would not put money into this that I didn’t care about losing. I certainly wouldn’t.

Mark Stepp is the director for Real Estate Theory and Practice at Arizona State Univ

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Digital Real Estate, The Metaverse Nfts. I have a video that explains it a little bit better than I think I have previously, and maybe that helps out. A lot of people have been asking questions about this, not just to me necessarily, but I’ve been hearing a lot of chatter about those couple of words and what’s going on and just the pricing and is it a bubble and whatever and who knows?

So we have a video from CNBC. We’re going to go ahead and click on that and play it. Let’s pull it over. We’ll give you the link and see what happens.

Well, the real estate investors are paying millions of dollars for plots of land that don’t even exist. It’s come to this. At least not where you and I can see the land there in the metaverse, the virtual reality space where a digital private island can cost as much as an average American home legitimately on the land rush where there is no real land. Here’s CNBC’s Andrea Day.

So where are we right now? We are in Decentraland right now.

I’m in my home in New York and Andrew Kegel, a crypto entrepreneurs in Toronto, Canada. We’re at Amnesia nightclub in Decentraland.

But we’re together virtually in the metaverse. That’s me, that’s Andrew. And there’s my producer, Chris, with the Mohawk.

This is the museum district. So what is this place? It’s a digital world where you interact with real people, but as cartoon like characters called avatars.

Andrea I think you need to save that for the club district. Really, the metaverse is the next iteration of social media.

But there’s more here. I will take you guys to some more interesting areas.

Major artists are performing here like Justin Bieber. You can go to a carnival, you can go to a music concert, you can go to a museum. All types of different experiences that you can explore and get immersed with.

But what has some investors paying millions to grab a piece of the action? Digital real estate.

Prices have gone up 400 to 500% in the last few months.

Kaggle is showing us around one of the hottest worlds in the metaverse right now called Decentraland. So hot. His company recently dropped nearly two and one half million dollars on a piece of land here.

Another hot world in the metaverse, the sandbox where Janine Georgiou’s company that invests and develops virtual real estate just spent more than 4 million on a parcel of virtual land. That transaction breaking records.

The Sandbox is probably the second most popular blockchain metaverse today.

Her company sold 100 virtual private islands last year for $15,000 each.

Today, they’re selling for about 300,000 each, which coincidentally is exactly the same as the average home price in America.

So why the digital land rush? Real estate broker Oren Alexander explains The digital world.

To some is as important as the real world. So it’s not about what you and I believe in, but it’s about what the future does.

And just like property in the real world here, it’s also all about location. There’s areas when you first go into the metaverse is where people congregate. So those areas would certainly be a lot more valuable than the areas that don’t have any events going on.

It’s those heavily trafficked areas reeling in big spenders here in the sandbox. This piece of land with Snoop Dogg’s face on it is owned by the rapper. He’s building a virtual mansion on it and talk about location. Someone just paid 450 grand to be his neighbor.

I think it absolutely matters who your neighbor is. That’s kind of true of almost anything, right? It’s like a club and you want to be around people that share similar interests.

Buying land is pretty simple. You can buy it direct or through a developer, but you’ll need to build on it and make it interactive.

You can decorate it, you can change it, you can renovate.

It’s code. But there are critics.

I would not put money into this that I didn’t care about losing. I certainly wouldn’t.

Mark Stepp is the director for Real Estate Theory and Practice at Arizona State Univ

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Oh, no. 2022. Property taxes are hitting your mailboxes very soon, if not already. So let’s talk about some of the top points about this, how to fight it. Like can you should you?

I don’t really know. And could you argue if your property taxes are going up? I mean, isn’t it a good thing that your values are up?

And it’s going to be really hard to argue right now. I mean, I think, you know, they can only go up if you if you filed your homestead, if this your primary residence, there’s a cap. If you have an investment property or a second home, there’s no cap. So that can get a little tricky.

If you have any investor clients that own properties, maybe it’s your time to reach out to them and analyze and see, is this really, you know, maybe we need to raise the rents. Maybe you want to sell it and be done. I don’t know. I think it’s an opportunity there to to find out because it could really be a shock to a lot of people.

I talked to one past client of ours and there’s one I think 35% in one year. So they were like, Oh, that’s a lot.

Yeah. I could see a lot of people being hit with that shock and a large amount. Yeah. And people may be being like priced up, being taxed out of their property.

I mean, it’s, it’s a big deal if you see. Okay, we’re all worried about what inflation is, but imagine if your property taxes go up by 10% for the year or more like that’s a lot. It’s a really big number. Yeah. On top of everything else. So I don’t know. It’s just something that you should be aware of.

Be aware of. You know, there’s a lot of talk about, hey, can you supply me some comps and let me I’m going to do this myself. I strongly advise against that. There’s a couple of companies that are out there that do this for you. They’re very experienced. This is all that they do.

I would advise, you know, I can give you some comps here, but I don’t know. I mean, there’s a lot of factors that even we don’t know. Right. So it’s really important that you give them to the proper person, because if this doesn’t work out right and they’re utilizing your comps, this can be a reflection on you and not go well. So guide and help and be there for them.

But yeah. Helping them fight their taxes. No, we can’t do that.

And as a reminder, probably the best way to argue the value of your property is not by looking at comps necessarily. It’s the traditional way that people think about it and they’re like, Could I find lower comps out there than they’re currently using? And so that’s the common misconception.

The best way that I strongly recommend is you have to actually bring new facts to the discussion. And the new facts would be like the House that I currently have has all of these problems and you document it and that shows what the status of your home is compared to the other ones. You’re like, No.

No, those were new and whatever. Yes. And then you can deduct back on your property, be like actually that home had this feature. We don’t have that. We didn’t paint our cabinets yet. And you know what I mean?

There’s different things. So every home is not necessarily equal. They had more features and functions than this property had or there are certain problems. Our AC unit is bad and whatever those items are. So just consider those and that’s probably your best way.

But check your mailbox today. Yes, clients will be getting these and they’ll have a bunch of questions. We’ll be covering all types of things around property taxes here in the near future. If you want more information on it. We cover this every year, so it’s a great time to go back and look at past episodes on property taxes.

Like North Texas property taxes.

That’s what I was is the one that that we personally use. And they’ve done a good job. They continue to do it every single year for us. And some years, you know, the property taxes go down a little bit. I sound like a check for like 40 bucks and but there’s not much that you can really do certain years.

So and as a bonus, surel

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Client poker parties coming up, Shana, when is it Get your poker face is on, it is Saturday. We have some assets that were.

Guys, and we’re going to remind you that today is a great day to go ahead and hit that and make sure that everybody is properly invited. Yeah, OK. So we’re going to share those assets with you. We’re going to pull it up. I think we have a link here so we can give you the assets.

We’ll also let you know that it is on Facebook page.

It is on our Facebook page you guys can share. But Meghan is going to actually send you guys. I know she’s been talking to you guys in the workshops and in meetings, but we’re going to send you an email and share it. You can send an email with the assets.

I’ve been sending out messages on Facebook and Instagram with the link so you can save it to your phone and do that. If you have trouble doing that, let me know. But you guys should all be sharing this

And everybody should already have registered themselves. And so if you go ahead and put yourself on the list, that would be a key thing and your spouse. Make sure that the people are of age so that we can actually have them play. There is a cost to playing. One hundred percent of the money is paid out, so it’s a fifty dollars buy in cash only. We’ll take the money. We’ll distribute it out to everybody.

There’s prizes for the first couple of people. We have some rules. I saw those published somewhere it’s five to six, is a barbecue in six fifteen is poker time when we actually start. If you would like to learn more about how to play poker and you’re unaware of yourself or there’s something that you want to. Please show up early and we’ll teach you. We’ll show you all the rules and everything else.

Even if you’re not like a poker whiz, it’s probably great for you to play to have interactions with other people, including your clients. So encourage people even if they’re not amazing at it, just to participate and you’ll be making a donation to somebody else that happens to be good at it.

And last poker party was exciting.

Logan won Yeah, that was awesome tournament.

So that was really cool. He did a great job there and it’s fun, you guys. We have barbecue, so you have that five to six that you’re you’re getting to mingle and have a good time. And then it gets serious. People start playing poker

And then as people are out, I think last time it turned into a dance party outside, somehow maybe led by yourself. So guys, it should be. It should be plenty of fun.

You know, sometimes if you have anything you want to drink, you can bring that for yourself.

Sometimes people don’t really like to play poker, but their spouse does, or vice versa. They want to come with a friend and it’s OK, come and hang out and mingle and have some barbecue and then you don’t have to play. But it’s so much fun,

So the long range weather forecast looks really nice, looks good. So we should be good and that will be here in Frisco, at at our home. The party house.

Yeah, so we’re super excited to see you. Yeah, and it is important that you invite people and you invite up promptly. Don’t like wait till the last minute. Don’t definitely need to have your cell phone already.

This person would never play poker. Look beyond that. Look at invite, invite getting in front of them, you know, and including them. They want. You want to show them appreciation, right?

So it’s not actually about the event. It’s about inviting somebody and inviting a lot of people. It’s like a volume invite. So there’s only going to be a certain amount of people that show up no matter what, right, due to like if it’s the right time for them, if it’s their event, if it’s, you know, kids and what they have and like what’s going on with school and sports and like, pick all

Those inspiring kids coming up. I know, you know, a couple will be gone for spring break and we have, but it’s about inviting a lot of people because even if they said no, at least a herger name and gave you an o

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Where does DFW rank for some key construction metrics that’s Shana Acquisto, she’s a luxury real estate broker and we’re going to discuss some of these different items, you know, where are the other areas that are top? How long have we been at the top and for what verticals in particular?

We happen to rank really high. Yeah. So let’s go ahead and share the link and put it up on the screen and chat it in so you can take a look at it.

You know, it’s crazy about this. It says DFW is number one for the most active real estate market in the last decade. What market is like? You know, it shifts. It goes, we see the ups, we see the downs. But what stays steady for a decade?

That’s crazy. Yeah, it’s a decade long study and what we have here is overall, DFW ranks number one for the category, studied this a 10 year time frame. Ok, so second for single family home permits at Sumana home permits thirty two or three hundred and twenty three thousand multifamily permits.

That’s a lot of them. Office space. Fifty five million square feet of industrial space, retail space and self-storage. So even though our homes are big, we still need to store stuff. Interesting. Yeah.

So to your new homes?

It’s great storage. Houston ranked number two overall. So Texas ranks really well. Austin number 11. San Antonio 20. And these are just some of the things that we can take a look at here.

That’s so totally great. All Texas is pretty hot.

We, a few of us attended a breakfast the other day with the mayor of Frisco, and he did talk about the starts. Like the the new Apple, the applications for new homes starts was just ridiculous. I don’t remember that the exact number, but it was unbelievable.

So yeah, and you guys, if you ever want to kind of know, you know, we talked about this, I think I talked about it with somebody last week. But if you kind of want to know what starting and what’s happening, go to the city planning and zoning website and you can, you know, you can attend the meetings virtually.

I don’t know if they’ll continue them. I think they will because they did it. They were doing that before the pandemic. But if you follow these, you can see kind of what’s happening and follow it. I think it’s interesting. I actually watched city of McKinney when yesterday. Just trying to keep up

What you do in your spare time, in my spare time meetings for City.

Yeah, but you know, our market remains hot. We have also heard a lot about these build to rent communities, which will be a whole other topic we’ll dive into, probably in a few days. But yeah, new constructions, nuts. So thank you to Megan for coming up with this topic and sharing that in particular off so we could give it to everybody else.

If you find any topics that are important to you that you think others could benefit from, please just send me a quick email and I’ll make sure I get covered. If you come across anything in your day that you’re not, ultimately all that sure of is an agent. Also, send that across when we get it covered. First thing in the morning each day.

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TREPAC supported candidates, if you're interested to find out who the realtors are supporting, then we're going to show you, so we're going to go to the website Texas realtor support. This is not who we support, this is who they support and it will show you all the details on it. So we're going to pull up that website right now.

We should all be voting. We're in the primary elections now. Early voting ends today and then the regular election or voting is Tuesday.

So over here on this the website Texas realtor support. Yep, this is the page where it'll show you who is supported by that by the Texas realtors. All of us, as realtors should be voting and doing our due diligence on behalf of property owners, right? We're all property owners. We should be understanding who these candidates are, who they stand for. Ok, I'm not political by nature. I don't really like to get in the weeds of all of it. But I do know that our our PAC, the Texas Real Estate Political Action Committee Tree PAC, they take on this role for us. So what they do is they interview candidates. They understand who's really for or against values that we stand for as realtors that protect property owner rights. And they go through all that and then they let us know who you know are supporting candidates are so that you guys can go to the polls and vote for whoever you want. But this is a way that you can understand that some people that have been vetted and who they support.

So these are the supported candidates here locally for this zip code. If you are voting Republican and if you're voting Democrat, I don't know. Maybe we have an error when we look this up, but it doesn't return any results here,

So well, it does. Oh, that's weird.

So maybe we would have to go do a different search. All candidates you're putting in as a populist? Well, I know. But is there no Democrats running in this zip code that are supported? So I don't know enough about it. I haven't done the research.

They also have that hot list that shows all the hot races that they think have a runoff election.

Ok. And then we have all candidates, so they are all here and we can do some research on them independently. And then your personal guide, if you do your own due diligence, you guys, and you know, that doesn't mean that's who you have to vote for. But this makes it kind of just understanding that they you know that our our PAC is going through and interviewing candidates and really diving in to understand who these people are.

So and we have a libertarian in the house who's making her voice heard on her political stances. So we value that she says that she can't vote in the primaries because it disqualifies her from participating in the libertarian convention, where the true proponents. That's interesting. There you go. Thank you for chatting in there, Rachel Lester.

And that's why Rachel Wester, you should be involved.

Yes. That's awesome. Ok. There you go. There you go. If you want to print that out and bring it with you, I don't actually know the rules. Does anyone know? Can you bring that in with you if you print it out?

I don't think you can bring anything in.

I don't know. It's weird. Like, I want to know who to vote for. Like, I had to memorize this list.

Like, I don't know, does anybody know if you can bring that in? You get in there and it's there's a lot and you might forget.

Yeah, get in now if you know if you can technically bring something in with you. So you go there.

One thing to check, you guys, is there's there was some redistricting this year, so our district actually changed a little bit. The borders of our area changed. So you know who you think you might be voting for may not be in your district, so make sure you double check that.

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Have you ever thought about renting a place in Paris while she has? That’s Dr. C. She’s here. She’s going to tell us all about her rental experience in Paris, and we can learn some stuff from this to see how it differs from our local market. She can tell us all about that and more.

So thanks for joining us. Yeah. Hi, everyone. All right. So let’s kind of talk through in general, how many places have you rented? So as a student, you got to rent different places. So just talk about maybe how many places you’ve rented.

So far, I’ve rented like three apartments. One alone, one with a roommate in which I change twice, roommates three times. Yeah, and then one with dinner.

Ok. 10 there. Yeah. Well, that’s awesome. So what we’ll do is quickly talk through them and see how it’s a little bit different. One of the first things that shocked me is how you can quickly get out of a lease. Yeah. Ok, so talk about that.

So that’s like really specific to Paris where I was because so. Normally in France and in general, you have to give a three months notice to the owner or the agency with which you are dealing with so that you can go out of the apartment. But Paris is special because there’s a lot of demand.

And so because there’s a lot of demand, they made it one month because they know the owners is all going to be able to find somebody like. Usually within like days or a week.

So imagine that you just like move out and you’re like, I’m done here. See you, suckers. And 30 days later, yeah, you kind of move on.

That’s really helpful, even for the renters. Mm hmm. Because usually.

So I think it’s also something for the renters, because if you want to move out from your apartment in another apartment in Paris, usually because of that, if you like, go really fast with it, you can find an apartment within a week and you are afraid to, like, get rid of your last apartment before you know you have another one because you don’t want to be in the street or like going back to your parents that are maybe like,

Yeah, no one wants to live in this street, you know, like, that’s a bad option. Talk about bad options.

I said, living in the street, but that’s kind of harsh, like living at a friend or. Yeah. But yeah, so it’s really usually nice to have that. Um, but yeah, one wants one once it is in Paris because the demand is really high.

Very good. So you moved around a little bit. And part of that is for various reasons. But you were a student right when you were doing this, and there’s a lot of great places for students to live there, right? There’s education base. So maybe talk about just education because you didn’t specifically live in Paris.

Yes, I did

Know when you were growing up. Oh, no. And then but you moved to Paris for school. You live kind of close. So just describe kind of that.

Well, I was my parents live in the suburb, kind of what we are doing right now with Dallas. So first, all my first years of undergraduate, I was at my grandparents, which were a little bit closer than my parents to Paris. So it was fine. It was like just like the train and metro after.

But. It just kind of adds up, and so at the end, I was like, I would like an apartment in Paris. Mm hmm. So I would do so, and then it was like, it’s just more easier and you get to live the Paris life. So it’s nice. But yes, I was after having a first apartment alone. And then I was like, It’s too lonely. Let’s have a roommate.

And so now maybe talk just a little bit about how the schools are there because there’s interesting setups there, right? As far as where the schools are specifically located and you know, then the international miss of like where Tanner was, for example, to start with.

Yeah. So in Paris, you have several universities, so basically you’re going to have almost like one university per. I don’t know how I would say that like you have different. Its parents are separated in different neighborhood.

I would say. And then so you have a university that

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March 1st, Matrix has changes like big changes or small changes, some

Substantial changes that you need to know about March 1st is Tuesday, so it’s coming up, so they’re coming out with a new. They’re having to update matrix. They’re changing from an old data dictionary to an updated data dictionary. And so this is what it means for you. The most important thing is net price will be down from four p.m. on Monday until 10:00 a.m. on Tuesday. That’s quite a bit of time, Inc.

We’re going to share that and pull it up as well when we talk about it. So these changes will be in effect on March 1st. And, you know, just plan ahead because some of you when you’re doing your searches and things at night, it’s not going to be available from Mart from the night at 4:00 p.m. on the twenty eighth till 10:00 a.m. the next morning. Ok. Ok. The biggest thing is the areas.

So way back when I think we talked about this, the maps go had different areas and you would associate an area with a number that’s going away. So most people today are familiar with the, you know, drawing on a map to determine their area. So if by chance, you have saved a search for someone by an area not drawn but by an MLS area and some area, it’s not going to work.

My suggestion is, and this is just my thought, if you have saved search for anyone, you should go back in and just probably update them or redo them on the first, because I just I don’t know how it’s going to really differentiate those areas, and I don’t want them to miss out and not see everything OK.

A couple other things. The total baths we talked about is now an integer, not a decimal. So it’s going to be a total number of baths. It will be broken down with if they’re full baths or half baths. Status is sold and leased are now considered closed. Residential subtype condo and town home is now a separate search.

I like that commercial type for sale and for leases are also now separate searches, so maybe they’re going to welcome more commercial into our market. So anyway, there you go. March 1st Plan ahead. And don’t be caught off guard. There had plenty of notice.

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Can the housing market keep going? That’s Shana Acquisto. We’re going to talk about that. We know we have demand and we have, but we don’t have supply. You know, we’re going to have to talk about interest rates. We’re going to talk about inflation.

We’re going to talk about all these different factors here. But can the mark is this sustainable? Like what in the world is going?

It is sustainable because it’s been sustainable for the last, how many years. So I think I mean, it is I think it is sustainable.

We’re things just way too far behind then, right? Is housing, should it really have been much more? Was it just lagging for so long that now we’re catching up and it has this real value and we weren’t putting enough value on what that is, right?

So, you know, if we dive in just a little bit, I think would be decent to start with. I think the big issue is the type of property that people want has changed. Sure. Right. And there’s different trends. So if we look just design wise and super hyper local, there was a trend from one color palette to another color palette that happened a while ago.

Right? And then what happened is you would look at the pictures of these homes and you would say this older home, right? Looks like this. And I don’t want that. I want this, OK? And that’s acceptable.

That’s like a personal preference or taste of what it is. So if you looked at just the supply of homes built in this time frame, OK, and homes built in this time frame, OK, yeah, you would see that it’s it would be like nearly impossible to have everybody transition to this new style.

Right. And at the time, there wasn’t enough premium put on this new style. Ok? Because they were valued at like the same. I mean, so they’re either should have been a lowering of the price of the old home that was the old color and the old palette, or a price appreciation or raising of this new palette above what was here.

Because to take the older home and modify it to get to this standard is extremely expensive.

It is. That’s why people are moving and then they move right? And then when they move, this one catches back up. But then all of a sudden people like, Well, wait a minute, if I had to fix this house, then this one goes to here and then this one went to here and then this one. So that’s kind of like locally what happened just based on taste and preference for color palettes, right?

Not even rooms switching. Then we have everything going on. And all of a sudden it’s like, Well, no, I actually want to function my home differently. I want more of a one story than a two story, and I want to have more people

Want to do story. So it went to two. And now it’s kind of going back where everybody would like to have a real chance to me during TNT.

You’re texting Shana on her phone while she’s on TNT? Hmm, interesting. We’re supposed to use the chat over here on the right or wrong chat. Yeah, wrong chat. Texting Shana directly. So, no, but you know, there’s definitely there’s a demand, but the demand is for this type of home. Yeah, right?

And so it’s totally different. So then we talk about not just then its features and functions in addition to color palette. And now you see that you have a whole other problem because all of a sudden people like, well, I want my home to be laid out like this and I want this room in this feature.

Certain things you can’t change. Yes, that you can’t change, right? Then it’s like, Well, all of these homes are no longer good because I want either more space. I want,

I want, I want. That’s the problem. Yeah, everybody wants. But you know, here’s the thing supply and demand, where are these people coming from? I know that we have people coming from other states within, but are there so many people moving from other countries that gets here that? I mean, what is it?

Yeah, I have no idea how. We just don’t know. It’s going to be a long time. You know, and we’ve seen like, you know, not to get political, but we do see that y

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Texas Builders Association and a super quick review of that brought to you by Shana, she’s a luxury real estate broker and you gain some information about this and when you were down in Austin at the big.

Conference last week. So I was speaking with Leslie Rouda Smith about she wanted to talk to us about some issues that we’re seeing and I brought up, you know, I feel like there’s a lot of issues around the new construction process. And you know, we have the there’s a builder, then there’s a sales rep and you know, so that right there kind of feels just like we’re battling each other in that regard.

So they’ve decided not to cooperate. Some of them have decided, you know, we’re not going to cooperate so much with the realtor. So we’re not going to, you know, compensate you. And there’s a lot of stipulations around that. But something that really bothers me is in the contracts that they have the right to terminate for whatever reason at all.

So when you have someone that’s purchasing a new construction and they’ve gone through this process and then they sell their home, you know, let’s just use that as an example and then they get closer. This is a true story. Within forty five days of closing on their new construction, the custom home builder terminated the contract, so he terminated the contract and would not.

We understand that there’s price fluctuation and sometimes something extreme happens, but wasn’t even given to the the buyer as an opportunity to make up that difference.

It was no terminate. So, you know, the fact that the prices have been increasing and it just feels really kind of slimy that someone would take that to their gain by terminating a contract and potentially selling it to someone else? You know, if the client was extremely difficult and there were some challenges along the way, I mean, I’m sure there’s other factors that were considered in that.

But I’ve heard about this at least a dozen times in our area, and I didn’t know that until I spoke to Leslie. And she said that she is going to the National Association of Builders, and she’s presenting these challenges that we’re having. So maybe we can get something regulated in a sense that either, you know, we hold them to a higher standard. Right. And there’s some fair fairness as far as cooperation goes.

So I’m really excited and interested to see what comes of that because I think there needs to be some, you know, we need some help there. Yeah, a little out of control for many years.

There’s a whole host of issues there because you just offer bonuses and now they’re like, you ain’t going to pay you well.

Compensation aside, there’s a whole host of other issues.

I mean, that was, and so the other issues would end up being things like, you know, you can list your home as an owner for sale by owner but not put it on the market and not put it in MLS. But then they put other ones in and put some of them in. But then the sales agents don’t have to be licensed because they work for the owner.

Now, doesn’t everybody end up working for the owner at the end of the day? Because can’t I say if I hired an agent that this person is working for me is an owner? And that’s the same argument opportunity, really.

Presentation in that sales rep is working, like you said, for the builder who’s really advocating for the buyer and they’re, you know, you think that it’s a new construction and it’s easy and I don’t need representation, but that is wrong. There are many, many things that you need someone, you need the oversight and you need help with.

And I just I think it’s wrong. And we we did talk about that and it was brought up well, you know, it’s it’s no different than it for sale by owner. This builder owns this property. He has the right to sell it without a realtor. Right. But that’s crossing the line, in my opinion, of what’s truly happening right there listing on MLS. Then they have this handful of them over here that I could get you in here or there, and i

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Temporary apartments. And we’re going to talk about this, so if you are trying to buy a property and with that, you might be consider yourself possibly homeless for a little while if you can’t find a place, right? So you’re going to sell your house first and try to move in, but you find yourself in an issue.

Maybe you want to find yourself behind a gated luxury apartment. There a little smaller units. They do allow pets. They do have short term leases as low as six months and you won’t be homeless. Wow. So that’s pretty decent. Yes, let’s go ahead and pull these up. Here, are they?

Yeah, they’re in McKinney. So they’re on Skyline Drive in McKinney, one bedroom starting at fourteen. Fifty to eighteen hundred dollars apiece. What? Yup. There you go.

I think our apartment, we had an apartment and it was like 675.

Yeah, but no times have changed and they’re a little bit nicer. They’re not necessarily huge by any stretch of the imagination, but prices two bedrooms 20 to twenty two point ninety nine and three bedrooms twenty five hundred.

So there is a price to short term leasing pet friendly. Oh, well, that’s a huge thing. That’s a huge thing. That’s why Jane sent it over to us, so we could all see that we do have the URL and we’ll chat that in to you. So you guys can see it. But Jean felt it worthy enough. So your buyers don’t.

If they end up listing their home and they need a place to go, that they would have a short term solution that they can go from somewhere to this. And if you look at them, they’re each. If we go back to the exterior of it, just a couple of slides back, what you’ll see is that they do have a garage on it and the garage is in the middle and there’s a unit on the left and the unit on the right. So they’re kind of like home.

It does look like a home, but is this one of the build to rent communities? I wonder. It seems like it could be interesting, possibly amenities 10 plus units available. Ok. You know, if you think about your liabilities of being a seller and then turning into a tenant with the with the lease backs, there’s a lot of there’s a lot of risk associated with that, actually that you’re on the hook for.

It seems like an easy process, but once you dig into it, there’s a lot of things that could go wrong that could be super costly, so it might be worth just get out. I mean, that’s a lot of work to move right to move twice. But you know, it’s definitely something to think about.

So so these range different options for you, right? To help you get more listings so you can say, like no, have the confidence to go ahead and list your home because here’s an opportunity that you could do to have and because you know you don’t want people to settle. So they’re stuck in this place because a lot of people are saying, I would love to sell my home right now. However, I would hate to buy right now because of the uncertainty.

Or then you’re having to do one of these things where you buy and then you have two places. And that’s not really fun to have two payments and to have two places now.

So why not? And you know, these give you the garage space for the storage. So these make, you know, to me, they make more sense than just a typical apartment that you may not have that extra room in storage.

So, yeah, it feels like for short term, you would be fine with a with one of these if you were a traditional homeowner. Sure, it gives you an option in six months time. I believe Jean may have, because she was. She was the one that sent it over, and she thought it was a good solution for us. Jean. Thank you. Keep sending stuff over, guys.

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How realtors can develop self-awareness, just be a little bit more aware of yourself, but to be honest with yourself, now that Shana Acquisto, she’s really good at what she does at real estate. And we all need to work on becoming self aware, especially myself. So the first thing that you need to do is you need to be objective.

You need to evaluate your transactions from the past and really look at them. You need to be accountable and they need to track and push your boundaries in what you have.

Yep, I agree. Looking at things objectively is really important.

So let’s dive in. Shana, don’t always do that. Let’s get after this. Ok, let’s do it. All right. So talk about being objective. And you know what? That really is yet to separate yourself. Right? But look at yourself, but not be like, Oh, you know, I’m really good at that when in all honesty, you’re not, you know, be truthful with yourself. I think you bought yourself.

It’s I mean, something that I like to do is I’ll take a minute, you know, if I get in where I’m feeling maybe negative, right? And you flip it around and you think, how? Just think of that. Whatever your negative about or you’re talking about that, you turn it, flip it around and you’re hearing that yourself from somebody else, right?

Oh, OK, how would you feel? And I think that really helps to know, OK, if I flip this around, I was on the other side and I was hearing what I’m saying, how would I feel? And sometimes it’s like, Ouch, you know, it’s kind of an eye opener.

So OK. So that’s a good way to look at it, to be objective. You know, and sometimes you have to be honest with yourself, you’re like, grade yourself as whatever that is, right?

You ever go in like an analogy would be sometimes you go to a changing room and you try something minor like, Damn, this looks good, and then you’re like, Wait a minute, like, something’s weird here. And then you walk out of a story like, this is totally weird. Like, the lighting is not the same. Are you getting a mirror is not the same. It’s just a little different. Right? I’m sure that’s happened to just about everybody.

That’s why there’s a return.

Yeah, but what that really comes down to is like how you see yourself? No, it is. Hey, you know what I mean? So that’s like an analogy. So now we look at it and then think about your career. Yeah, like how are you as a negotiator? Mm hmm. Right. How are you as a business generation person for yourself, right?

How are you as a delegator? Previous topic we just spoke about. Yeah. How are you about as an accountant? Right? What about your technology? How are you on social media like all these skills? But really, look at it and then learn more skills all the time?

And are you one to always blame? Right? It’s really a blazer, and I’ve been guilty of this. Like, you try to put the blame on everybody else when it’s really yourself.

Like design pickle. Do you blame design pickle for too many things, right? Maybe it’s a lack of of putting it in, right? So there’s a technology phrase it’s called Gigio garbage in, garbage out. So whatever you give them, right, sometimes comes back this way.

I’m not going to take their side necessarily and say that they’re always perfect because it’s not necessarily right. Right. But as you kind of look at it, you do self reflect. Like, Did I explain that right? And how are my results coming back?

So that’s very true. So, yeah, just stop for a minute and think about that because I think we are I don’t know. It’s easy to blame. It is guilty. It’s easy to blame when in fact you’re actually wanting somebody to read your mind.

You need a psychic to read your mind and be able to take that information and tell path to the other person. Well, that doesn’t happen. So we have to think about that.

Maybe you’re so busy that you need a personal handler.

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The hardest real estate skill to learn, and it actually does pay off over a period of time that Shana Acquisto and we’re going to talk about delegation, we’re going to talk about how much your time is worth on an hourly basis. We’re going to see who could help you. And we’re going to try to make it fun.

Ok. Those are all the things we to talk about going to make it just a second. Yeah, we’re going to see what can what can happen here. All right. So let’s talk about delegation. It’s a super hard skill to learn.

Oh my gosh, I’m trying to learn.

Yeah, I have no clue. Yeah. So I’m still you do a great job at it. I’m still trying to take the mick out of micromanagement.

And yes, you’re good at delegating, but maybe not to the full extent. Right?

Well, it depends. There’s things that are, you know, all different purposes and different intensities and different like skill sets are needed and different priorities. Yeah, so it is

If you can somehow delegate. We’re all super protective of our of our business and what we’re doing, and we can do it better than everybody else, right? So if we can learn that skill of delegation to just kind of trust and pass off a couple of things, I, you know, we talk about, how do you get more time in your day? And I think that’s the answer.

Yeah. So let’s kind of look at when you would delegate. Ok, OK. So when you would delegate is you have to look at how much you currently make. So, you know, if you’re from the most simple term is take home what you made last year, OK? Ok. And then take that and divide it, divide it by, divide it in half and then move the decimal point. And that would be how much you make on an hourly basis.

So, for example, if you made one hundred thousand dollars, then you would have earned if you work to standard work week about fifty dollars on an hourly basis. Ok. Ok. So one hundred thousand equals fifty bucks an hour. So anything that in theory is less than fifty dollars an hour in value creation or that you could acquire somebody to do it for less than fifty dollars.

So from like a pure economic standpoint, yeah. If if somebody could do something for forty nine dollars an hour for you with equal opportunity, then you would gain one dollar per hour. In theory, now it gets more extreme and makes way more sense when the is less sure. But from that simple economic standpoint, that’s what you do.

Yeah. Now you know that there are certain things in our business that we have to be licensed to do, but there’s a lot of things that you know, we could have somebody do that aren’t that requirement that they’re not client facing and engaging the clients? Right?

Yeah, no. There’s just like and sometimes it can be as simple as utilizing your family, OK and finding those items. Maybe it’s something simple, like finding a house cleaner to help you out with tasks like that. Right. And in doing that, then you’re not doing certain things that free up your time. Talking to me, I have a Swiffer that I’ve taken to Wendy today.

So I’m going to me. Those are those reach things. And then from the other standpoint, it might be, you know, like, do you mow your lawn right now? Do you do that for your own personal time or whatever? And. And that’s why. Yeah, but you would look at items like that. Maybe the and it might actually hurt your time production, but do you have like your kids do the laundry or your kids do the dishes or some types of things around the house that save you time and then give you more time to do other things right?

So there’s a whole host of things like that that would come in, and your spouse would probably be a great person to help kind of balance these out like, Hey, I’m busier, could you? And then you find those types of items. Maybe it’s things that you don’t like to do as well.

So it would make your career better if you didn’t have to do this, pick whatever thing you don’t really like and try to delegate that. Maybe then you’ll have a higher satisfaction, which in t

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How much sleep do you really need? I don’t know. I’m going to do a study on it myself and find out, and I’ll get back with you now, but really, there’s all these different practices, unlike how much sleep you really need.

I recently heard from one of my good friends that you only get so many hours of life. And I was like, Whoa, I started thinking about that. And then I thought to myself, Well, what are you saying is, I should never sleep, I should just stay awake, and I should enjoy myself all the time and like, why sleep at all?

But then what he told me was, No, that’s not what I mean. I mean, you only get so many hours that you’re alive when you’re awake and you should stretch them out and sleep more. And then I was totally like, Whoa, that’s crazy. And my mind was blown. So you’re kind of thinking through this, do you only get so many beats of your heart? Do you only get so much stress in your life?

Do you only get so many hours when you’re awake? Do you only like, what do you get to sleeping more equal? What if you’re healthy? How what’s this balance? How much sleep do you really need? So chat in now. How much sleep you typically get, what time you go to bed and what time do you wake up in the morning? How do you function right? And are you better at different times?

So make it interactive. I’d love to hear how much you guys are sleeping. Super important. I think it is important, like when you’re scheduling your surgery is Mike Shepherd. Dooley points out that you schedule it for first thing in the morning and the guy is going to be like paying attention, right? Hopefully.

All right. Schedule like, who wants to be the last surgery of the day? That doesn’t make sense. You know, like call the guy in the middle of the night and let them operate on you when he’s then. But everyone has different hours. I hear that some of our agents are great in middle of night, like two o’clock in the morning.

They’re amazing then and then sleep, right? So I don’t know. I’m currently at going to bed about 12 30, waking up at five 13, and you can figure out the math and how much sleep that is. And I feel totally good. Or do I? All right. So let’s kind of think through that one and then think about yourself.

Maybe if you just had a baby, maybe you’re getting a lot less sleep. So that would be an interesting case study to know parents. Right. So you had kids. And then when you are, you better when you get more sleep like later on in life for them? Or are you more efficient? Do like you get more done in the day. Are you a better person?

Like what’s going on there? So anyways, that sleep and how it affects you? I don’t mean anything else to say. Wow, that’s a lot of hours that some of these people are sleeping. Way too many hours. You guys should be doing some more stuff. Don’t sleep.

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When are you most productive your day? And how does that relate to real estate? We’re going to talk about you.

Yes, you and when you are most productive, then we’re going to talk about when I’m most productive and I’ll share that. Then we’re going to talk about your clients, specifically what’s going on in their day and how does that all line up to their schedule line up with yours?

Or are you opposite whatever? What’s going on? How do you coordinate with Stacy if you happen to have some stuff going on as an agent? Right? So I want to talk about that and much, much more. I don’t know. Like what the much, much more part is, just like pretty much the topic we’ll talk about. But anyways, diving into that, so I was on with Stacy and we were kind of talking about this topic in general, and she she’s an early riser and she tends to get certain things done early in the day, myself as well.

My standard wake up time is five 13 a.m. And so when I wake up, then we, you know, you get to work and you do your stuff. And I feel that when I need to work on a spreadsheet or I need to work on something that’s detail oriented, kind of the first couple of tasks of the day that I get done. So if I had to file my taxes, for example, I would do that first thing in the morning and I would knock that out and I’d be like focused on it.

Now I’d have a cup of coffee. It would be quiet. I put some music on and it would just go and I would get in this trance and just get the work done and move on. But when are you most productive? So kind of think about that for yourself and then think about this from a client perspective, right?

So now your clients are going to be different and imagine their day. So now if we think through like a standard client like husband and wife and a couple of kids and they’re bringing them to school and shuttling them around and they got all this stuff going on, maybe they go to bed earlier, maybe they stay up later.

So what is their schedule like? What time did they want to talk with you? Right? So now all of a sudden, if you have clients calling you after work or at lunch break or on their way to work, then you need to be able to identify that, but then sync up with their schedule and work your schedule around them, not vice versa. So imagine that I happen to be working with a client right now if I was an agent that took on clients.

If I’m working with the client and they also are in the standard habit of calling me in the morning on the way to work. And now these people are calling me first thing in the morning, right? But they’re calling me maybe at seven 30 as they commute down to Dallas to work.

So they get through at 8:00 so they can leave early and not be stuck in rush hour and all those things. So now we think through that, but that lines up with the times when I like to do my spreadsheets right and I’m working on those types of things. So now we have to line that up and make sure that we’re working around our client and make sure that you have those discussions with them.

If you want to work your day in the best way you can, sometimes you have to make sacrifices. So would you rather talk to that client first thing in the morning at seven thirty on their way to work when they want to write and kind of have that scheduled? Or would you rather put that off in the day and have them calling you at your supper time when they are free? So that ultimately becomes your choice?

And if you want to take control and like just rein them in, like grab on to that and take charge, then you identify that type of thing, pull the client to where they really want to be OK and do it first thing in the morning. It might be uncomfortable for that client to ask you, like, Hey, can I call you at seven thirty in the morning?

Maybe it’s not uncomfortable for them, but if you lead them in that direction, you get there that you’re having that conversation when they’re fresh, when they’re on their way to work, when they’re in the car, when t

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Hello, ladies and gentlemen, this is Shana Acquisto. She’s a luxury real estate broker. She just attended the Texas Real Estate Conference

In Austin, and it was a week it was six days of fun, back to back meetings and my brain is kind of overloaded with such great information. But I just wanted to kind of go through a few takeaways from the week. I know one you we talked yesterday about Leslie Rouda Smith, who is the in-air National Association of Realtors president, current president, and she is a CCAR member.

Ok, so it was really good to talk with her. She spends so much time with her local association. When we’re at these events and we can just sit down and pick her brain and talk to her, and it’s really cool. I find it really cool and a very big deal. Yeah. The more that I sit down and talk with her, I realize, dang, I mean, she does so much and how impressive it is that she has moved up in the ranks.

And, you know, she’s really a voice for us here locally, you know, on a national level. So it’s super cool. She’s very approachable. So anybody could reach out to her with any issue or concern that you have. And I guarantee she’d get right back to you and and be willing to talk about whatever it is. So really cool.

That’s awesome.

You know, on the legislative side, there’s some things in the works from the public policy and governmental affairs about, you know, we’ll talk through that. There’s one thing that I found super interesting is we talked about the big talk is our property taxes and how expensive they are. And I know Omkar is going to slide over a website that I was not familiar with. Maybe you guys were, but it’s Texas dot gov back backslash property taxes, and they’re trying to make everything transparent, right?

Because I think there is a lot of questions about how our property taxes work. It seems simple, but some people don’t understand the homestead exemption. They don’t understand the caps and how all of that works. So this was a really cool feature that we have in place. So you can stop right there at home car, you can go in and find your county. And if we could, I don’t know if we can do this live right now, but it’s super cool. So you can go in, you find your county, which we’re calling county.

There you go. And then search and then if you just type up or right there, I don’t know if you could get my address. Yeah, put our address in their own car. It’s one five six three one Ridgewood Drive. First goal. Well, I don’t know if you have to put first go, but if you just.

Ok, so if you click on that right there, that very first one. So this is a really good way to kind of analyze your taxes, and it gives you percentages of how much they’re going up or kind of what’s happened in an easy to read format. So they have graphs and charts, so you can kind of look through these and find out, you know, how much of an increase are my taxes going up? How much financially does that impact me?

And I think these are business taxes, are they? Yeah. So let me help guide possibly back. I’ll take control for just a second.

The point is, if you guys go to Texas dot gov back slash property taxes, putting your address, play around with it because there’s a lot of good information there. Super cool. Yeah. There you go.

Ok, so this is home property taxes. Mm hmm. Oh wow.

Lot of bars sit down. Yes. I’m all about the bars and graphs. I just think it’s easier to understand and read, but it breaks it down by the city, by the county and by the school taxes. So you can kind of see what those all are. So I didn’t know about this site, but I encourage all of you all to go to that. We also talked about ways that we could supplement. Are there any any ways that we could supplement to to offset our property taxes? Because, you know, as we know, if you lower taxes, I mean, it has to come from somewhere.

So you know the whole thing of you, rob Peter to pay Paul. You know, so what they were talking about is a way to supplement, you kno

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How Zillow is discrediting the realtor database. This is kind of a big deal. I’m going to go ahead and show you exactly what’s going on here with Zillow. And if we follow along, you’re going to see some things that they have strategically done. They’re smart, like, really smart. They have great leadership. And the leadership might not always tell the truth, OK?

And they might give disinformation campaigns, but they have a real agenda in a way of doing things in their super impressive. So we’re going to go ahead and split the screen and show you how they are discrediting the realtor and discrediting their database specifically.

Let’s go ahead and take a look at that here for us.

And so here we are at the database and we’re looking at Zillow, and I’m going to show you really quickly if I go type first, go into the search bar and hit search in Frisco. What I’m going to see is there’s a bunch of dots that start to show up here, OK? And the amount of homes here is impressive. And specifically, I’ll show you what they’re doing over here with creating inventory when inventory doesn’t even exist.

So we’ll look over here in the hills of Kingswood and give you that as an example, that there are currently 10 homes available in the hills of Kingswood. And you’re like, Huh, that’s pretty interesting. I’d like to see all 10 of them. So we click inside here. And what we have is this is now the hills of Kingswood by grand homes, and this is pretty interesting.

So what they’re doing is they’re putting this together and they have what they’re calling buildable floor plans. So a buildable floor plan is not a property with an address, but rather it’s a combination of many different homes that you could put on specific home sites. So I’m going to go ahead and click on inside here, and they are naming the plan. So this is the Whitehall by grand homes and it’s a buildable plan. What you’ll see is there’s no address to this property, no address at all. But you can build it.

And then what they’re doing is creating this inventory, which showing you what the floor plan could look like. You could have any one of these exteriors and see what’s going on here and then down below. They have pictures of what the home would look like on the inside, and it’s a nice home. There’s no no issues with that in the least, right? But then what they’re doing is creating multiple listings that really don’t even exist for this property and for others.

So with the current market that we’re in, if you are looking for homes and your clients are out there looking and they go to a place like Zillow and they see, well, there’s this new home over here and there’s more new homes over here and there’s dots all over the place. Why am I not getting that? Well, the simple answer is because this home doesn’t exist. The address doesn’t even exist.

Zillow has an advertising campaign with these different builders, and the builders pay them a nominal fee to be listed here, and I believe it is about seven hundred dollars per community on a monthly basis that they pay to list these different properties. Then when they have these listed now, they create this inventory.

So if we take and look at the same exact thing on Realtor.com and we’re just going to use them, and if we look up and we type in Frisco, Texas, let me see if I can properly type here. Ok. And we pull up Frisco, Texas, and we go ahead and look at the same thing with the map view, what we’re going to see is over here.

We don’t have all of that going on with the hills of Kingswood. It doesn’t exist. They don’t have all these 10 other listings. They have just simply the amount they currently have in Zillow has all of this, plus others. Right. So that does create an issue that now all of a sudden, the realtor database is not like it kind of should be. And that’s where it creates a huge issue because when as soon as the realtors lose control of the database, which they effectively have here because Zillow says, here’s our

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Wendy Farms floorplan review. Well, here we are, we’re going to review the Wendy Farm floor plan, the Absaroka. It just depends on where you happen to live and what’s going on there. We’re going to take this floor plan and blow it up, make a little bit larger and take a look at it so we can see together what’s going on here. So as we split the screen here and review the floor plan? Nice. Job perfect.

I’m going to go ahead and take control of the mouse here for just a moment and show you what we’re trying to do with this floor plan. And I’m pretty happy. I think it’s kind of unique and how this mostly one story, it’s like a one plus story home is kind of constructed. It’s a long, long home, and that’s nice. That’s why people want one stories. And as we see over here, we have an entrance.

And when you go in the entrance that you’ll be able to see directly through the home and look out towards where the pool is, so that helps us out. That will have this great view. As soon as we walk in, we’ll kind of have this moment that’s going on. I’m excited to have that experience. And then when you come in, you’ll be able to look directly into here. So you’ll come in.

Have this moment in this glass cube? Oh, not too dissimilar from where I’m currently sitting. So if we go back over here and just take a look where I am, you’re going to see that screen and you’ll see exactly kind of where we are, right? So we kind of have this, this hallway cube thing and then we have the stairs off to the side.

I think it’s pretty cool. So we’ll kind of have this neat experience as we come in and then we’ll get back over to the plan. Nice car. And then in here we have the living room in the kitchen and the dining room. They are not stacked, stacked as when it’s like one two three in front of each other. And that’s a different progression. Some people like it and some people don’t.

But this opportunity here gives us the opportunity to have the dining room over here on its own, all in a glass cube kind of sitting out. You’ll also have windows here in the living room as well. And so that’s kind of the arrangement. There are a lot of glass looking in and a lot of kitchen space.

So with the range, everything will be underneath here. And then we’ll have the addition of kitchen space here, a pantry and a full prep kitchen right behind here, so you can get in and get anything that you need and you’ll be able to keep this kitchen fully clean. And when you entertain, you’ll have extras of nearly everything, including the sink and stove and everything else in here and oven. So you’ll be able to cook back here clean dishes and do things without disturbing the way this looks.

So to some, that’s super important and a nice large pantry next to that will have the game room, pool, bath and a bar, as well as we have the wine wall right next to it. So this gives us kind of a look as we’re transitioning down here, we kind of have an airlock chamber here. The Foir, which serves the owner suite inside the owner’s suite. We have the bathroom, the shower closet, second closet.

So we only have one entrance getting inside the closet, the second. So maybe a his and her closet take it whichever direction you would like their mechanical room and then a door and a sliding door in a hidden room that shows up over here. So I’m really, really liking the flow of what we have over here on this side of the house. I’d like to get feedback from you guys and see what you think.

We’ll have this link out there so you can take a look at it a little bit later on and tell us exactly how you feel on this one in general. Then when you go inside the Home Office one and office two with these corner sliding things that open up so you’ll have access from one to the other. These can be put in as different types of flex spaces, depending on what your needs are, and those would be right here in the front kind of transitioning the home. So if you had clients come over, they wouldn’t necessarily have t

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380/Tollway in Frisco. Ok, what is happening, everything’s moving north, all these new big and exciting developments coming in and we just want to share with you so you’re in the know. So three eighty and the tollway, as we know heard now, Jerry Jones has bought up a lot of land out there and he’s going to be doing his thing. But this development at Three Eighty and the Tollway is going to be pretty magnificent.

This is all stemming around the the PGA. Ok, so they’re going to have new office space, a new entertainment destination, and I’m envisioning it being a lot like Legacy West Area. Right? They have some housing around there. It’ll be it’ll be a little different, but you know, it’s going to be a really great place to go and hang out. So I knew they were going to be putting in.

They’ve made a couple of changes. They were going to put in a big convention center there and they have since pulled that back because there’s another one close by.

But I’m going to have a um, car. Share this so you can kind of get a get an idea of what’s going on there. So there’s going to be a new mixed use development, right all around the PGA. It’s going to be insane. It’s going to be super cool and it gives us another place to go hang out.

So the development will be four point seven, five million square feet of office space. That’s a lot and twenty two hundred residential units. Who’s excited about that? Now this is going to take, I think when I was reading it eight to 12 years to build out the development.

I’m not sure about the housing, but it’s something to keep on your radar, you know, and know that this is going to be a really wonderful area. So when you have your clients moving to this area, it’s something you definitely want to add. It’s exciting, new and exciting big developments like this. You know, I don’t know the newness. It is exciting to have another place to go.

Hang out. Another place to go and spend time with, with family or with guests, I think is super exciting. You know what else I think this does? I remember not long ago when people wondered, if I am north of the tollway or if I am, you know, a little further west. Like Aubrey and even further, crossroads, you know, you start getting closer to Denton.

People thought that was in the middle of nowhere, and all of a sudden it’s not. It’s going to be kind of in the middle of everything. So we talked before about these areas that could be up and coming, and we don’t have a crystal ball. We don’t know what’s going to happen. But look, what’s happened in the past. Look how everything is kind of, you know, been on this forward movement north. You know, we used to laugh at my dad. He lived in the West Ridge area and you guys know where we live.

And every time he was like, Well, I got to go. I got to go north. You know, he was just when he would leave our house. So it’s really funny, but you got to go north if you want to be in all the excitement. You know, you kind of got to go north. That’s where all the newness is coming in. But we also talked about these small little towns, you know, and if they’re within a certain area, you can use this as your kind of your base, right?

And see how far these homes these residential areas are from this area, right from three, eighty and the tollway. And then, you know, it’s really probably not that far, not as far as it was, you know, a few years ago when we were thinking about it because there is nothing out there now, there’s growth in development.

So when you’re looking for your clients, you need to talk to them about this. Show them these things so they feel comfortable. When they are purchasing homes in a different area, they’re having to go outside of the area that, hey, things are coming. Things are encroaching out that air out that way. So it’s, you know, gives them something to think about and it might make them feel more comfortable.

Ok. I also want Omkar just so you guys know where this whole PGA headquarters and all this de

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Scroll stopping real estate photos. So if you’re just sitting there and you’re just scrolling through stuff, right, any which direction, then Shauna is going to give you guys some tips on what’s going on here, what to look for when you can do it, how you could use an MLS where it could be used, maybe just on social media. These are all different things. But she’s an expert.

So I know you guys are always looking on social media. You know, other posts, real estate related items. And you know, we scroll a lot and I just ask you what causes you to stop scrolling? You know, what is that that you’re like? Whoa. So think about that for a minute. Think about what is so impactful that it causes you to stop scrolling and then try to take those and put them into your own posts.

So we’re going to pull over some examples that I thought were cute or different. This is one of them that was on social media that I thought, You know what? There’s a little dog in this photo, and a lot of the times we want everything perfect, everything cleaned up, moved off. You don’t want people in there. But what is wrong with that? It kind of shows how they live, right? And wow, that door opens wide up.

Their pets can come in and out. You know, you’re not going to appeal to people who hate pets. Probably. Or maybe they’ll also be attracted to it because it is cute. It is cute.

Yeah, there’s a lot of big men, little dog situations out there. So that’s the thing that does happen. Shout out to Kyle.

Ok, so let’s scroll to the next one. My style. So this one I liked because it had the shoes, it had the slippers in the photo. So it kind of tells, Hey, this is a great place to like, kick your shoes off and sit back and read, you know, as we’re as we stressed to do more lifestyle photos and to be ourself, then we need to convey that in our photos too.

So and it’s not just in a listing photo, you know, when you’re doing your social media posts for if you’re out showing a property or you doing something like that, you know, post these kind of unique things and tell a story. You know, I think that it really resonates with people. It might cause them to stop scrolling.

Now before we look to the next one, I do want to remind people that there are certain standards that you can put in MLS and uploading the photos and there’s things you can’t do. Yeah, so we’ll go over that at the end. But just there are items. Ok, yeah. Let’s scroll in this one home car.

So this one I like just because it’s not showing the room, but we’ve talked about this one before, but you’re kind of highlighting something cold in the home, like a feature or a piece of furniture, even though it doesn’t go with it. You know, people may stop because they may be remodeling their home, right? They may be moving into a new home and they’re getting different ideas if they stop on yours on your post.

They’re going to understand who you are. So you kind of think outside of the box there of it’s not just, I mean, you are trying to sell this home, but you’re also putting something out there that you want to be recognized for.

So, yeah, and I often think this is better than a picture, just like this one. Even putting that in MLS is going to definitely grab somebody’s attention when they’re just looking through the photos rather than like the third picture of the fourth bedroom.

So empty. Yeah, yeah. So think let’s not bore people with our post. Here’s another one I like just got the blanket there. Know kind of a close up of that chair. I really liked this. It was appealing to me. I, you know, I know everybody’s got a different style and taste, but I don’t know. I stopped on this one. I thought it was

Cool in the winter. It might resonate more with you, especially when it’s cold, right? Oh, there’s a blanket. I could sit here. I could see myself here.

Yeah, and there’s browns in there. So we’re kind of shifting from everything you see is the white marble with the gray veins. That’s a that’s a very tre

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Eero Mesh Wifi 6 for your home. Hey, there. Who’s super excited to talk about why fi version 6.0 or a wi fi mesh network, specifically the one by Eero? Well, my name is Mike Acquisto and I’m a real estate broker and wi fi is actually a bigger part of your home than you would kind of imagine because it’s important to have stable internet and a lot of people are working from home.

And if you can overcome a big obstacle that somebody has and you’re going to make your client very happy, like maybe I did with a gentleman like Mike Shepherd, who is having a problem with his internet at his home. Mike, are you currently on right now and are you getting much better internet? Can you see me way better and hear me way better than you used to with less connectivity problems?

I hope so. And when we see Mike on our his next Zoom meeting, you know, maybe I’ll have better picture quality, better stability, and maybe it really changes his world.

But what we’re talking about now is the Eero six and specifically the Pro. So here we go with this one here, and the Pro is the latest one level six Wi-Fi has the mesh network. So what that is is as the home is larger and you move from one device to the next device as you’re like walking through the home. So imagine you had that you’re walking from like one the left side of the house to the right side of the house that you might have one base station or like range extender going off over here, but they only cover certain distance.

So as you move across this signal and the signal is going out, you eventually get to a point that you’re at the edge of one in the beginning of the other. And what it does is it passes off from one station to the next, and it does it seamlessly where you’re not dropping connectivity. So it’s it creates this mesh network that you have at your home and this one does it really well.

The version 6.0 and specifically the Pro is going to be the model that acts as both the router and it’s going to also act as the range extenders. So the one that I do recommend is the version 6.0, the Pro. And yeah, here’s the secrets of the mesh and kind of how it works.

Oh, they pretty much explain it in a great way here. Yeah, that’s like way better way to explain it than me describing it with words. That’s them describing it with pictures. So if I’m going back to the product itself, I’m going to highly recommend for a gentleman like Mike Shepherd. The three pack and I would get the pro and then what this is going to do is one of them is going to be used as your base station, so you’ll take in plug from the device that you just got one cord into this one ethernet cord, long, short, whatever you want.

Put it, buy it at one extreme end of the property, then put one in the middle and one at the far side by your office. And then you’ll have this mesh network that’s kind of created and hopefully maybe one of them passes by your patio so you create wi fi on the patio as well. So start in the back one in the middle, one on the other side. If you need a fourth one, you can.

But I think you’ll be good with three spread out throughout the property, but spread them as far as you can until they break and then try to push them back, so extend to the edges of your house. And then what will happen is is like, you’re in the yard, then you’ll have really good Wi-Fi in the yard way over there, so you’ll be connected to the internet at a distance.

If that’s too extreme, then you can either buy more units and extend it further and put one leg outside on your patio or wherever you want the garage and extend it there. So there’s some opportunities or just moving closer back together if you want.

But start with the three pack and I think you’d be good to go with the Pro. It’s going to cost you five ninety nine, but you’re going to be good and you’ll have great wi fi from here going forward. You can create your own network and a guest network, so you can give that to your anyone else to log in. That is a guest

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Hey, there. My name is Mike Acquisto. I’m here to talk to you about a real estate item. Yeah, it’s real estate and it’s to do with your home alarm system and it’s taking an existing alarm that’s in place and converting it and upgrading it to a wi fi based one with ring with notifications online to get away from kind of like this old, stodgy system to see if this is right for you.

We’re going to utilize the items that are currently in your home and upgrade it. We’re going to talk about the pros, the cons, the prices where you can get it, what company is going to be best for it and all of that right now? So Omkar, let’s go ahead and split the screen and bring over this and we will chat in this link for you as well. So this is the retrofit kit brought to you by Ring, which is an Amazon company.

And what this retrofit kit does is allow you to bring into the back of it all the different wires that go into your current. If you have any existing alarm system at your home, whether it’s monitored or not, all of the contact sensors in the home kind of electronically go through the walls and then it goes back to one specific spot on the wall. If we click on that button over there for three 19 and we see what’s inside this retrofit kit, you’ll kind of get the whole idea of what’s going on.

Ok, so within this retrofit kit, what’s going on is we have a contact sensor and when that contact sensor is broke and it does something that separates, it sends this notification all the way back to this device. Now that’s where we have the wires coming out of our wall and we kind of have this keypad on it when we detach that keypad and take it away and we put this retrofit kit in there.

Now we’re creating a hybrid with this hybrid system. We now have the system that takes in, makes all of the information coming back to it. So it’s hardwired. But then it becomes why fi from there forward? And that’s what I’m really in favor of. So I kind of like this hybrid solution of physical fixed wires going to each of the connections in the place to totally seal it off.

Whether it’s the windows, the doors, any type of contacts that are currently existing, you retrofit it just like this. So now this is where everything kind of comes back to. Ok, so now we have where they used to have this keypad, we have this. But now there’s not a keypad because the keypad didn’t necessarily need to be there. So then we insert the real keypad, which is the this other one that we have or we can use our app or there’s a bunch of different other ways to to utilize this.

Ok. So this, I think, is the best of both worlds where you have a hybrid solution and you’re able to take your wi fi, you’re able to take your alarm system. And there’s the alarm keypad that was kind of talking about the base station makes it wi fi enabled through Eero. And then we have the retrofit kit that allows you to use these hybrid alarms. We have the motion and contact sensors and alarm notifications. If something breaks, if something moves, there’s a lot of different sensors that can be installed if you want.

And then the range extender is simply Eero WiFi system, but it extends the network larger if your home happens to be bigger. So we build all these things together in this kid is supposed to give us cybersecurity for our internet. It’s supposed to give us home fire, carbon monoxide detection, all of these different protections, all in one. So I think the system is kind of ready.

And if I was building a new home, I would strongly consider putting in wired contacts, bring it all the way back and using actually the retrofit kit, even if it’s on a new build to to make this all work and line it up with Eero. And I think you’d have a really good system. So we’re going to talk about that next. Let’s do it.

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Ring home alarm system, we’re going to give you a quick overview of how that works, how it’s on wi fi. We’re going to talk about that and we’re going to see, is the system ready for prime time? Should I be installing this in my home? What if I have an existing home?

What if I’m considering building a new home from scratch? Is this something I would do? So we’re going to go ahead and share the screen with you guys and go over a little bit as it relates to this. Ok? So Ring is an Amazon company. It’s owned by them. They purchased them several years ago and have incorporated in here. And this device here is the hub for the ring system. So that’s where the things kind of all connect throat.

And then what we’re going to see is there’s a bunch of different items within the ring system, how they have a whole plan associated with it, how it actually Amazon also bought Eero Pro and has the WI. So this actually has the router 6.0 built into it. There’s a price for just buying that device there, and then there’s the keypad that goes along with it. Now this keypad does not go on your wall.

It’s a keypad that’s wireless in general. And then there’s options on if you can buy this and you can use it and how many you need. And like, what other setups do you have and like alarm glass breakage and all types of different things that come along with it? Ok. So I put in a second link there, I think within. No, no, not within this topic. So I’m going to just keep going down through here.

So if we look at and we took an example of the one ninety nine. Ok, and we kind of pulled that one up there. The One Ninety Nine has the base station, which all the information goes through. And then what it also has is the keypad. So you can set this, you could talk through it with like Alexa and you’d be like Alexa, set my alarm or you could walk up and push this. But this is not going to go physically. It could go on your wall, but it’s not going to retrofit and use.

Probably if you have an existing home, it wouldn’t use the sensors that are in your current home that are currently wired to it. It is going to have the opportunity for some contact sensors. The contact sensors are going to be put in the windows so that when it moves or opens or when a door opens, then you could still get that chime or that notification that would go on as those items separate.

The only thing that I don’t particularly like about that is that these are going to require batteries at some point to continue to operate if Wi-Fi fails or still some connectivity between these items that I’m not totally, totally comfortable with. And then there’s a listener. So the listener is that device that is going to see if there’s something going on.

So it would hear if there is an alarm that goes off in your home like a smoke alarm or carbon monoxide detector. So what it would do is send it, hears the alarm and then it sends this notification to the system to alert you on your phone that something’s going on or to alert the security company that there’s currently a fire at your home. So that allows it to kind of be monitored for the alarm system.

This is all over Wi-Fi. This would probably be best if you’re building a new home from scratch to use a system like this. Ok, so those are kind of the pros and cons of it. I think it’s a good system and I like where the technology is going. I, however, would kind of caution that not just Wi-Fi fails from time to time. I think there needs to be a couple of redundancies built in, and I’m still, for several things, being hardwired, most specifically the contact sensors and what that’s going to do is it’s going to bring us to the next episode.

So that’s kind of a tease for that. You have to watch the next episode on converting your old alarm to a new one to create the ultimate hybrid system for your alarm system to be monitored or not monitored for yourself using Ring. I think the system’s ready as long as you use a hybrid one. Let’s take a look.

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Ladies and gentlemen, multiple offers, multiple offers galore and the pressures it creates. We’re going to look at it from the agent side, from the client side, whether they’re a buyer or a seller.

We’re going to totally discuss it from a bunch of angles with luxury real estate broker Shana Acquisto. Nice to see you. Nice to see you. All right. So multiple offers are all over the place already.

Yes, they are. And what I want to stress to you as an agent is how you handle them with your client. So I’m seeing a lot of different things. I’m seeing people, you know, posting on their social media that, hey, we you know, whether you’re listing agent or buyer’s agent from a listing standpoint, hey, we had one hundred and fifty offers.

You know, just think about how that all of your posts are perceived from the public. You know, we want people to value us as a realtor. We want them to feel like they need us. They need us to go through that process with them. So we don’t want it to sound easy because it’s not, you know, it is not an easy process.

It’s very stressful for imagine how hard it is to actually manage that. So there’s different opportunities to speak about that, for sure. Yeah. And now imagine how that looks. So just play that one post forward, right? So imagine you post out one hundred and fifty offers on this property.

Yeah, I’m amazing. Look at me. Look at me. And then you post six days later back on the market. And it’s like, What? How did that happen? I don’t know. You picked the wrong one out of the one hundred and fifty.

Yeah, so really a suggestion is maybe tell the story of what happened, what is happening behind the scenes that people don’t necessarily see, but tell the story of how you are actually helping navigate through that. Hey, we had a ton of offers, but here’s what we did, and we ended up, you know, a positive result is X.

So just I think how you tell that story is going to resonate with people instead of seeing that and being like, well, I can list my home myself. Why would I? Why would I need them if they can? Just if you know, all of a sudden we’re getting tons of offers, why do I need a realtor? Well, we all know why they need us. Let’s just make sure we’re relaying that information properly so they perceive us.

So from your client’s standpoint, so you, as the agent, have put in ten offers and they have not been accepted, right? And you see your client, they’re becoming very weary of this process and they’re going to, you know, tap the brakes.

And they’re going to start submitting offers on like they’re going to take a couple of actions, right? Like tap the brakes or submit offers blindly on anything. And just like hope, it works. And so you can see that happening all over the place. Did the people even see the property when they’re submitting offers in most cases, right?

You know, I think a lot of people would prefer their buyers to have seen in person the property. You know, we’re doing a lot of walkthrough videos with with people to show them the homes because they can’t get there fast enough. And I understand that that we have to do that. But you know, you want to you want to make sure that you as a listing agent, you choose the right one and you have a process for handling them, right?

Just showing off the house, nice house. It is nice, probably in multiple offers in my guess.

Probably.

But you know, you have to set those expectations with your client up front. You know, you have to let them know that you may go through 10, but don’t give up because here’s the thing there’s a, you know, talk of interest rates rising. When is it going to change?

It’s not going to all of a sudden the light switch click off and we go back to normal. There’s not a normal right. This is where we are in the market. This is how it is, and it’s going to be this way for the foreseeable future.

So rather than be upset about it or any one of those things, I think it’s all a mindset. So consider this consider b

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Hey, NTREIS, you’re converting from RETS to RESO. So it’s been quite a while in coming, right, so this is moving from one standard, the old API standard to the new one. And there’s a lot more fields. There’s some information we’re going to share.

We do have a document to go over that is Shauna. She’s going to be helping us explain some of these items that Mitrice has going on. I think it’s far, far overdue.

It’s way Overdue. We’re going to get to it right now. So let’s share this document. Have some discussions.

So we’ve been going through some beta testing because any time you make a conversion, there’s some hiccups along the way. So there were some functions that weren’t working when you were inputting a listing or when you were searching.

And you know, it could still happen when they roll it out. So it’s important to get some feedback from you guys. And I’m going to say that anything, not just this, but anything that you see when you’re searching or you think could be beneficial to you or a client through our MLS, please let me know.

I am on the MLS committee and I’m in leadership and I would love to bring all of these things, which I am, but I would love to have you guys a part of it and get your input so we can maybe make some changes because it is long overdue. They have a new data dictionary that’s a standard that is used all across the country that we have to, that we have to make sure that our system, you know, complies with. So it works.

But yeah, so these are some of the different items that have been updated or added. There’s now significantly more fields. Yeah, and it’s kind of like this new nationwide thing. It’s a much better database. Yeah, it’s more updated and it functions quicker. There’s a lot of super positives about it. I don’t want to get totally into the weeds Now, but there are some things that we’re really irrelevant before, and they brought in some new things.

We talked before about the bathrooms and how they’re going to separate them, and they’re going to have a total bath number. But it will be broken down so you can see how many full baths and how many half baths. But before it would just say like two point one and one being the half bath. And it was a little confusing, I think, for people and the consumers.

So we are that’s one of the changes that they’ve made. And if there is two half baths, it would be zero point two. Is that how it used to be? Yeah. Ok, yeah. I actually like that myself. I understand what it is, but I could understand how the consumer might not.

But now it’s going to be. So if you have, for example, three bedroom, two half baths, right, it’s going to be total baths is five and then below it, it’s going to break down. How many are full and how many are haves? So I think it’s better, actually. Mm hmm.

I didn’t. I mean, in the beginning, they were just telling us that it was just going to be a whole number, and that was a little confusing.

But so I I would say there’s going to be quite a few challenges with this because the API really wasn’t even available for us to test. We tried to put it in. Yeah, and it wasn’t working as of like just the other day. So it’s supposed to go into effect next month, I believe, but this has been like three years, we can’t even test it fully yet, and we can’t implement it.

So I don’t know. I bet there’s going to be a lot of different websites out there that kind of break, hopefully because of this, if you’re not totally, totally on top of it at the last minute, it kind of feels weird. We should really be able to have been testing this for a long time and implemented it already.

They’re still in beta testing. And there’s, you know, I’ve been looking at it. There’s a lot of the releases they’ve updated how the leases are done. I’ve seen that be a big change. But yeah, you guys may not even notice, but I bet you do. Hmm.

Well, if anyone’s keeping track at home, this is coffee number three for me already this morning. And these are pretty

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Build to rent communities. Otherwise known as BTR.

Are they hurting home ownership? Yes, they are. What is going on with them? Why are they popping up everywhere? Is it profitable? Should you be doing it?

Do you want to buy into one? What’s going on? We’re going to have to discuss that and more. We have a supporting article that we’re going to go ahead and put up here and we’re going to talk about it just a little bit.

Yeah. So tell us what these are. You know, we’ve talked about them before, but refresh our memory on what the beaters are. You guys might start hearing them.

So that’s a crazy picture you see right there. I don’t even know what the heck that is, but it’s build to rent, meaning that the builders are going in and putting in a whole neighborhood with the whole idea of building them and not selling them, but renting them and collecting the cash flows, the monthly cash flows for the rent and selling this as a collective group, a much larger sale to somebody else, right to some investment firm or managing this income as it comes in and holding the whole property. The whole community. Right. Is a is a package, a portfolio for later on.

Are they doing this because the prices have skyrocketed and maybe they’ve lost money? What is the appeal? I know it’s an appeal to investors.

Yeah, no, it’s a money thing for sure. And it’s also kind of a control thing. So let’s look at it from that perspective. If all of a sudden you have and as we scroll down, we can see some different things that’s going on all over the country.

You can see the names of the communities. You can see that it’s skyrocketing and how many of them are going on. You can see that there’s new home builders that are getting involved and you can see the names of the builders. Yeah. Taylor Morrison jumping into it.

I think I was. Tell reporters is what they are. No, a bunch of ones locally are starting to move to this. Right. So this is a model that is definitely, definitely coming. Wow. But why is it happening?

So think through if things are if there’s supply issues and you can’t get certain things right and somebody is super picky and like a one off, like I really need blank whatever it is, this refrigerator, this, you know, this cabinet that but there’s substitute items that could be used for it. So when you have a super picky person, it caused a lot of problems. But overall, if you’re putting together 300 units.

Then when people don’t have a choice, it doesn’t matter when they have a choice, yes matters.

So they’re making all the choices for them. So everything’s getting done. You’re like, We don’t have that colour. We don’t have that material. Fine, make a substitution done, move on. And they’re not having to deal with that. So they don’t have to deal with 300 buyers that are super picky about their home. Right.

That it has to be perfect. They just fly through them and put them in and make some kind of, you know, a lot quicker. Yeah. And so now they don’t have to worry about that. They’re worried about price and worried about getting it done on time and putting the whole community together so they can go super fast.

Very similar. There was a community in Long Island that kind of started this. I think it was 11 town where they just like went through and put up home after home after home. And that was in Long Island, the initial start of the suburb, after people came back from from the war. And this is almost the same thing, except they’re not for purchase, they’re made for lease.

But they’re they tend to be more of a luxury product. Yeah, well, I mean, that’s what depends.

Well, let’s look right here. So yes, in the way that a Cheney unit is a luxury apartment, then these homes, these luxury these are luxury homes as well. The company estimates that it can build each home for 65,000.

Yeah. Or about 160,000.Probably not going to have the bells and whistles.

Well, so maybe luxury and whatever. But they’re trying to sell them. Right, and tryi

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What is best for the neighborhood in real estate? How does that conflict with homeowner property rights? The two could be in conflict from time to time when it comes to things like Airbnb, VRBO, Short, any type of long term rental, short term rental use of your property in unique ways, right?

Or solar panels or, you know, business uses of your property there. So let’s kind of talk about from a neighborhood perspective what you would probably want to see and.

How it varies for everyone. But it goes back to I think you should be able to utilize your property for what you want and if it’s rental or whatever. And as long as those activities are managed, you know, there’s an aesthetics and then there’s, you know, well, a lot of it is aesthetics, right? That we want. We don’t want deals.

Yeah. And how it feels because that maintains everyone’s value.

So just because it jumps up just a little bit, right? Because individually you have a price in a way that you want to protect. But the neighborhood is now a conglomeration of ten, 20, 50 to 100 hundreds of homes, and they are looking out for the greater good of the collective unit as a community. Yeah. And they want to restrict certain things to protect everybody. Yeah. And it can be in conflict.

It could you know, you talked about solar panels like some people, I want to have solar panels and then, you know, how does it look? So those are in conflict. But, you know, here are some things that happen that I think are the negative of that. So say our neighbor over there decides that they want a bright pink door. Bright pink door.

And the highway. All of a sudden it’s like now you can’t have that just because that one person doesn’t like it. So there is a benefit to having an air way and you have all these things in writing. But say that particular item isn’t in writing and it doesn’t exist in your covenants, then they can’t force you to do something just because it’s one person doesn’t like it, you know what I mean?

So you have you know, a lot of people don’t they’re not, you know, proponents of HOAs. But I think that they do, as long as they’re managed properly, which involves the way that can be managed properly, is one now they have to to the new homeowner HOA laws. But for all the community to get involved and show up, you know, we’ve shown up at our HOA meetings and there’s been two people.

So if you don’t show up, you know, you’re not going to be in the know, you’re not going to know what’s going on and it’s a problem. So these exist for a reason. If somebody tells you you’ve got to trim your hedges and you see the neighbor doesn’t have their hedges trimmed, look in your yard or your covenants and see if that exists.

Right. So, you know, I think that their everything is intended and those houses are intended, you know, to to maintain and help your values as a homeowner.

Yeah. From what society has kind of judged to be the correct thing because when you talked about the pink door, wouldn’t it be interesting? I like yeah, it might.

I might like to think, you know, oddly enough, it might be a great idea. But what if the HOA said nobody can have the same color door and they all have to be different color doors? Yeah. Why is that not a style? Why did society vote that everybody shouldn’t have a different color door?

And then you could say, Oh yeah, the guy with the yellow door, the guy with the green door, the blue door. And you would know which house you’re talking.

About and then know maybe those those covenants are all of. Voted on right by the by the community. So, you know, I think to protect one thing to protect your your your property is having an HOA.

So we’re going to do a live test of that. Shauna, do you think it’s a good idea maybe at Wendy Farms that we restrict it that no one can have the same door color and everyone has to have a unique door color? No, no, that’s not happening.

I just don’t see that. Wow. We just did a live test and now. They know.

Have the

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Amazon vs construction industry. So we’re going to talk about what this means. Right. And how they’re in conflict and how. Oddly enough, I’m going to try to display to you a connection between Amazon jobs and the construction industry.

And I think I talked about this just the other day that most younger people like when was the last time that you talked to somebody and they said, I want to grow up and become a and fill in one of these different. Yeah. Like who was like, I want to work on a construction site, right?

Who wanted to go into any type of construction. And the answer is it’s, it’s an ever decreasing amount of people, but yet somebody has to kind of do this.

And then it’s pretty fascinating. We’re kind of involved in it now, so it’s kind of cool.

Yeah, but in society though, we get a whole group of people that end up having to make a choice because they didn’t like just the way things worked out for them. And then what I’ve heard a lot of people talk about recently is when they’re accepting this job, they get excited, oddly enough, to go work in a warehouse with Amazon.

Is it the name? Like a name?

So that’s what I’m kind of asking you. Here it is. It the name? Is it the fact that it’s indoors? Is it marketing it? Amazon’s done the pay is often dramatically as good as Amazon pays. Yeah, the construction industry is currently paying more.

Is it because you’d have to sweat in one versus the other? Is it socially acceptable to work in an Amazon warehouse versus to be a roofer?

And how the difference between the two. Isn’t it really weird?

Yeah. But you know, what is really weird about it is all of those trades in the construction industry are skilled professions. Like they’re skilled like you. I mean, you can’t just go and have somebody start framing.

Just this last week I heard of two different people that were extremely excited to start a new job at Amazon in the warehouse. Really. Yeah. But they were not, would never consider the construction industry.

Maybe it is outdoor. I don’t know. Maybe it just has that stigma of it has a cachet to go work for Amazon even if you’re making dramatically less in society is said yes and society has said no.

Because it’s popular versus non.

It’s really, really weird. It’s funny even if you’re not following the money, how all of a sudden accepting that an Amazon pays great for the job that it is, right? But there’s other jobs that pay dramatically more and people are voting no. So what does that come back to?

Real estate is we’re going to continue to have a housing shortage, correct? Because people won’t do that. They will accept less to do something that is like in vogue. I guess if working at Amazon and a warehouse is in vogue for that specific type age generation.

We talked a lot about how that whole like, I guess what do you call it, trade like when you go to school for.

You know, those type of trade.

School, trade school. I mean, those jobs are necessary and they’re paying a lot of money. So why is that? Maybe more and more people will get into it now. Maybe maybe this will you know.

Maybe this article right here is really where it’s going to all change and the youth are going to change their mind on one of those things. Yeah. But right now they’re currently voting Amazon in that is a real estate problem. House prices.

It is a real estate continue to go up and it’ll only be exacerbated because of Amazon. And we also heard this morning that there are two jobs for every person looking for a job.

So that’s a true fact as of today, 330, 22 two jobs for every one person looking for it here in the US of a.

So we went through the craziest crisis of our life, the pandemic. And that’s where we are. Yes, we are crazy. We’re done. Amazon, it’s on you.

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Homeowner property rights. That’s Shana. I’m Mike. We’re going to talk about this right now from an owner’s perspective, if you own property, what are your rights and what do you want? Right. We’re going to talk about highest and best use. We’re going to talk about freedom to choose what you want to do with your home individually.

And maybe there’s some negatives that come from this. And it doesn’t always parallel what’s best for the neighborhood and what’s best for you as the homeowner. Some of this goes into Airbnb, some of it goes into commercial versus residential. There’s a bunch of different places where this kind of leads.

And you can’t think of you in looking at these things as an individual because, you know, is everyone going to conform to the same standards that you have?

So so go ahead and talk about anything that you’d like to. Wherever you want. One, we as realtors, that’s what we fight for is to protect property owner rights. Right. So if you talk about the highest and best use, you should be able to enjoy your home, you know, and not be deprived of that enjoyment of your home. So, you know, what does that entail financially?

Right. Is that what you can do there? There’s a ton of different things, right. So there’s different restrictions that are put upon property, right. By municipalities, whomever they happen to be for zoning, for regulations and on those properties. And it reduces what you can do with your property.

And there’s property rights that would be above the surface that are in like space. Then their surface rights, their subsurface rights, there’s what you can do as far as releasing things, as far as building on it and different. And realtors, you guys fight to be able to maximize this.

Yeah, right. The best use the highest and best use. So if we kind of look at that and we understand. Right, that that’s what we’re fighting for, sometimes it’s in direct conflict with what your neighbor might want to do because you want to do this right.

You may want chickens or ducks. And that would interfere with your neighbors use of the property. Totally separate topic of what’s best for the Neighborhood, right? Right.

Yeah, but just about what’s the highest and best use for you. You would probably want to be able to maximize it, to be able to put up a ten story building, if that’s what you wanted to put in a hotel. But that’s not really possible on every single property. No, but you want to restrict these in certain places.

But property rights says that you’re going to fight, that this person can do whatever they want the property to benefit and to benefit. Yes. And if you do things like that or allow things like that, then that diminishes the value of the other property. So I think the highest and best use, you should enjoy your property and you know, you don’t want to do something that’s going to adversely affect the value.

And this is where it goes into all different types of things, whether it happens to be solar or solar panels on the roof and how that aesthetically looks right and how it is financially, it’s going to be different and the same type of thing. When you talk about just every different type of way, you can use your house, not just from from solar, but all the way across.

Well, solar is a big one right now. And Airbnb. Yeah, is it was the second one I was mentally trying to think and I lost it. So short term rentals, you know, does it benefit you? Sure, it probably does. But does it benefit the neighborhood and protect your value?

What about renting it long term? We we see a lot of battles there right now. So property owner rights says that you should be able to rent your home out if something comes up, right? Yeah. And there’s all these different things and you should be able to run out of portion of it or your your adu.

Right. And how big can that be? And the property owner. Right. Says that you should be able to do all of those things. It basically should be yes is the answer. Ye

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HOA reform 2.0. That’s Shana Acquisto, she’s a luxury real estate broker. And these are some of the things that she lobbies for. These are things that when you get involved that you get to make a difference on. And there’s a lot of great people that have really put in some serious effort behind this.

Right. And we’re going to be talking about not only the people, but the process and how it works. We’re going to show you a Web links. We’re going to share documents with you. And we’re going to discuss several topics all within that.

Here in just a sec. Reform. Yes. So we’ll get started on, as you know. Last year was huge. Texas realtors across the whole state fought, you know, and brought all of these issues to the legislators about how and how we need to create more of a transparency out there. I mean, there were a lot of things from transfer fees to, you know, how they’re dealing with rentals and everything in between.

So it passed. So the new reform for transparency was passed last year. And what we want to do is pull this over on Carr and just remind you guys of some of the things that you as realtors, you know, we’re responsible for. So the fees, the resale certificate fees were capped at 375. And, you know, to update a resale certificate was $75. So that is a big one right there.

They track, they don’t regulate, but they created a website that will show later. But they created a website for all the who was who. They have to upload their certificates to this website. So we have one database with all the highways so we can easily find what’s going on in those areas. You know, there are several on here. I want you guys to to take this and and have it so, you know, oops, false alarm.

So, you know, kind of the things that were passed in the initial reform. So I think this is great for transparency. I think it helps all of us. And, you know, one thing that, you know, the transfer fees were huge and they still exist, but at least you’re going to know what they are in advance. Right?

So if you’re selling a home in an air way, you need to go to this database and you need to search and know what you’re getting, what your buyer is getting involved in prior.

You know, if you know something that is really specific for their use of the property, then you should probably encourage them to look at that in advance. You don’t want to wait until later, so how can you help? Well, there is a website called MyHoyastory.com and this is how we can hold the was accountable. So as we know there’s there’s always ways around the rules right and people tend to find them. So what is really important and this is what you guys would do well yeah.

Is if you know or hear of something that’s going on within highways, then you are encouraged to please go in here and tell the story. If we don’t tell the story and we don’t, you know, share this information, then we don’t know that a problem exists. It’s the same in our industry, you know, and I’m just kind of sidebar this for a minute.

If you are constantly banging your head against a wall because this agent is doing this or nobody’s disclosing this or, you know, whatever is going on out there and you continue to argue and argue and and go crazy over it. If you’re just telling me, that’s fine. That’s one person. But you should file a complaint. If you keep going through the same issues over and over, it’s your responsibility.

If you don’t complain or file a complaint or do something about it, then you shouldn’t complain about it anymore. Right? There’s avenues for us to to be able to to share in and hopefully get answers.

But so let’s we’re going to take each of these links and chat him in. So you guys all have them. We’ll give you the initial one, this one, and then there’s one more. So those will be coming in the chat so you can access them all on your own, right? You’ll be able to see them.

So this my HOA story. com. So you guys can go in there as realtors and share a story you can encourage and

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Highway 380. It’s called a bypass. And universally I wonder, myself included, if it’s really bypassing anything, what we’re doing and what the heck is going on with that road. All the creativity is creativity. Good thing when it comes to road construction, I don’t know what report you’re going to decide. We’re going to show some stuff here and kind of walk you through it and discuss it and give you updates.

So originally, years ago, I don’t know how long this has been going on 5 years. Forever, I don’t know. But originally there’s a lot of congestion in the downtown McKinney area from Princeton to like 75. So there’s a lot of accidents, as we know that’s on 380.

So the idea was to bypass the downtown area and get back on. But I think it’s kind of expanded beyond that now and they’re trying all these different ways to go around problematic areas. But I don’t know. I don’t know if they’re really solving a problem or just they’re not.

So I have a suggestion. Okay. So I want to loop. I want no, no, listen. So I want to loop around 75 and 380, that whole intersection in 121 and 121 and 75 just to circle around that whole area. It just goes around in a circle. And when you get close to those roads.

It belt line loop. I don’t know just around all of that area, there’s just so much traffic congestion there that if you put a loop around that whole area and it was like just a circle and you can get on and go around that circle wherever you want, it would alleviate the traffic at those core spots.

There’s like four core spots right there. Right. And it would alleviate all of it and it would do what you want to do.

But instead they want to, like, disrupt all these neighborhoods and commercial, you know, businesses that have recently gone in that now have to be demolished. I mean, it’s it’s super expensive.

So that was my suggestion. I don’t like to go into anything and be negative about it without a suggestion. So that’s my suggestion for improvement. Okay. If we go ahead and take a look at that, I think you’d see that that would actually be a pretty good idea.

So we have a hunch that the design and what they plan to do is already been, you know, kind of agreed upon. But they’re going through these motions of the latest is after the feasibility study, the proposed improvements from the meeting just recently, March 22nd.

So we’ve got this pulled up and, you know, there’s a controversy of does it come through? Prosper and Prosper is really fighting this hard. You know, it was Tucker Hill. Tucker Hill was fighting it hard. So from both sides, east and west, it’s really causing a lot of stress for a lot of homeowners.

I mean, so full disclosure, we do have a vested interest in this and it is to keep the stuff away from Walnut Grove and what’s going on here.

And to, you know, we have future real estate developments going on in here. So we would prefer to see this area uninterrupted. But then you look at it and step back from an overall perspective and you’re like, what? The world is really going on here because it’s just some real, real craziness.

And let me just make a statement that you should not just sit back and see, you know, and what’s happening and talk about it. You should get involved. Right? This is a good example. We were there at this meeting and talking with they had all the different engineers there discussing different segments of the 380 proposal. And one of them, they had really nice large photos out showing exactly how it was going to happen.

And I notice there were a lot of things that had come in since this whole bypass started. And I asked the engineer, I said, Wow, you guys wait. Looking at this, this isn’t here. This neighborhood isn’t even here. And he goes, Yeah, it’s really difficult for us to keep up with what’s going on and how how fast they’re building.

And I thought, man, don’t you guys have a drone to, like, fly over and do a photo of the most recent? I mean, this is like five years ago. So it was

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Texas Realtors 360 Real Insights Regional Meeting with Shana Aquistoo, a luxury real estate broker CCAR you’re the vice the president and waiting vice president elect these titles.

Elect president elect. I need to be better about that because it is a great title. Thank you for your service. I appreciate that. And let’s go ahead and discuss what went on just the other day. Yeah.

So a lot of good takeaways from this meeting and what it was the Texas Realtors leadership was there and just sharing some things that are going on and some hot topics with us. And we had open discussions about it to understand how important it was to realtors that they, you know, push harder on these topics to get some changes made. So I’m going to have Omar pull over this.

This is one thing that I want you guys to never underestimate is the Texas realtor. Texas real estate com website. There is a home buyers and sellers report that we’re going to chat in with you guys. But this link, it gives you lots of great information. There’s a relocation packet that you can download.

There’s lots of great information there that I think will help you in your business and for you as a realtor to just know the different stats. And you know, it really opened my eyes to how strong our market really is compared to other parts of the country and how so many people are moving here.

And it’s all things that maybe we know. But, you know, it’s good to have it in a form that you can you can share with your clients. I thought it was really good. So you can go there and there’s other information and surveys that you can download from here.

You can see quarterly housing report, the market viewer, small land sales report. I mean, there’s a lot of different things, international condos and it just breaks it down. So I thought I wanted to share that with you so you knew where it was. So you have that as a resource to go and look for great information. I like the stats. I like to share all I think it it resonates with people.

And so there you go. The next thing we talked about were appraisals and we’ve talked about it on TNT a couple of times. But how now there’s going to be as of April 1st, desktop appraisals are going to be allowed only with Freddie Freddie Mac loans right now. So they’re government loans, but not all government loans are Freddie Mac. So it’s not all loans that are going to be going through this. But what that means is you can basically have someone else, an assistant who’s not licensed, go in and do your measurements for you.

You know, the realtor could do it. Anybody could do it and submit it back to the appraiser to get to get done in the report. I don’t like that. I mean, licensed appraisers have to be licensed. So the couple of things that were discussed were who’s going to be how are you vetting these people that are coming in in the home if they don’t have to be licensed? You know, and just anybody can go in and do a measurement, is that violating safety for a homeowner? You know how that’s going to work.

So it’s really important that we know who is doing the appraisal and just be aware of what measurement is being done. And if a different measurement is being done, then there’s different addendums and disclosures that we have to make sure that we provide information from other sources is one, we’re getting information on measurements and square footage from another source.

So we’ll talk about that in more detail and I’ll get with Stacy on that. The other thing I learned was, and I didn’t know this, you guys may know this, that anything under ceiling height, under seven feet is not counted in your square footage. So I think in our pantry. Right, it kind of slants down. So that’s that area wouldn’t be counted as square footage in the back.

So it just kind of cuts it off when it becomes less than seven feet. So if you have bedrooms or rooms within your home that have like unique ceiling heights, maybe a slope ceiling, you know, just be aware that

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Hail anyone, check your roofs for all listings

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Hey. Have you been asleep under a rock for a while? Well, if so, you don’t realize that prices have went up on real estate. But I’m going to catch you up regardless.

So if you have been paying attention, you know that prices are up, but like you don’t maybe know exactly how much. So we’re going to take a quick spin through and look at our website and look at some prices on a per square foot basis.

So, Omkar, let’s go ahead and share the screen. I have some stuff prepared for us and I’m going to go ahead and take control of the mouse and move around. And I’m just going to look at homes in Frisco. And what I want to just look at are prices of how much these homes are on a per square foot basis. And so right in here is the price per square foot of $206 a square foot for this home.

This one is 600 and $653 a square foot. So now this is an outlier and it’s a larger home and there’s some things going on here. But that’s an intense number, right? It’s a four and one half million dollar home, $218. 206 to 20 9 to 90 7 to 55 to oh seven. I don’t see anything in here under. Right. This is crazy. Right. 224 This person put the wrong number in.

They said the house is 15,000 square foot. That’s actually how big their land is. So that’s some bad data point there. That person put in 182 cheapest house you can find on a per square foot basis. Let’s take a look and see what we’re getting for this bad boy here.

Right. So when you take a look at this house and you pull up and you look at this, how much do you think this really is? Right when you’re looking at it, if you put goggles on from the past, you kind of like, see this? You’re like, yeah, that’s a nice looking house, right? And you see it.

It’s built in 2010. It’s 3800 square feet. And you kind of like, I don’t know, 450. And then you’re like, no, wrong. 695,000. It’s like, whoa, that’s crazy. Your mind just misses things. And all of a sudden it’s been like an increase in increase and increase and things keep going up. So I just wanted you guys to see that it is crazy what the price per square foot is of homes nowadays.

And I got used to seeing things like $75 a square foot, $85 a square foot for new construction. Now it’s like $300 a square foot for standard homes. I don’t know what to say, guys. Prices are crazy compared to what they were. And I just wanted you to have a little bit of interaction with the website, see what’s going on with prices, and just recalibrate your minds on what pricing really is on a per square foot basis.

When every single thing you see is starting with a two, it’s like 200, 200 and 202 092 41 230 again that house four 181 eight Wow, that’s a real deal. We’re going to have to jump on those. Send your clients now. Anything you can find under $200,000 or $200 a square foot is crazy. You know, you look at some of these homes and I just don’t realize you look at this house, right? I don’t know.

It’s 2600 square feet and you’re like, I don’t know, it’s got a front garage and you just give like your initial number on it. It was built in 2004. Looking at that picture, I really think this house for 2600 square foot is like, I don’t know, maybe 225,000 is like what I kind of see myself and it’s not like it’s got some amazing stuff in it, right? You know, like, no, 500,000.

Ladies and gentlemen, this is a crazy world. I just want you to look at some prices real quick. We’ll come back over here and just give us a talk that prices are up for sure. And I don’t think they’re coming back down. Right. And we are here right now and we just need to stay here at this super high price point.

So if you have people that are wondering what’s going on, prices continue to go up. Supplies are in short demand and short supply. And there’s a huge demand. Tons of people are still in apartments because they still can’t even get into houses yet. So the demand is going to just continue is as long as we get to keep interest rates at something semi reasonable, we should be amazing.

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Multiple offers and home appraisals. Just because you have multiple offers doesn’t mean that the home is going to appraise. No, but it doesn’t mean that it’s not going to. If it goes way above. Right. So it was weird this morning. We were talking about how some homes didn’t appraise that we’ve seen recently and others that were 300 and some thousand above. And I asked, how is that going to appraise?

And you’re like, Oh yeah, totally. And it’s really weird that how we’re starting to look at things, right? So let’s kind of break this down and I’ll give you my own opinion first. And then I think that’s a.

Kind of two parts to this topic.

So let’s look at first. If there’s ten offers, 20 offers, 30 offers on a property and people are willing to put that much money in and they were willing to go above. And the price that one or the highest one or the one that was selected was not materially much higher than the others. In that scenario, I don’t see a reason why the home is not 100% worth whatever number is paid for it because everybody was willing to pay it.

Correct? Right. Like the market just showed. Not one person but two, but three. But for about five we’re willing to pay for it within hours.

Yeah, but I don’t think so. Therefore it’s worth it to appraisal standards. That’s one of the items that.

Well, they need to change. They need to change their standard. They need to change your standards.

But that should also I mean, what one 100% pay is definitely what the home is worth. Right. But the appraiser is working on behalf of their client, who is a lender in most cases.

All right. So let’s let’s think about this. Right. So because the appraisal, there are three different standards that they can appraise it by, right? And I think they need to add a fourth one and just put some more details in. So the first is they can choose the cost approach, right?

Like it’s a replacement cost approach and I don’t know why. Just decide to name these off the top of my head, but I did the market value approach.

Sales approach and the income approach. Right. And I just nail those. I think I kind of did just remember them from a long.

Time ago, an investment property then so then they pick which one is the most appropriate right. But I think that they totally need to have a section I haven’t seen if it’s been put in there, but I think the standard appraisal needs to be modified to include how many other offers were on this property and what type of time frame, what type of volume just to show the overall demand that was going in.

Yes. Well, here’s the thing, guys. How would it. Not? The appraiser does not have access to that information. They don’t know they’re not provided that information.

I don’t know. I think most experienced agents would provide that information so they can understand the demand of the property. But, you know, they only have certain amount of information. They access it from MLS and they don’t have that information. You know, they don’t know also if a home next door was sold in a distress situation.

So, you know, that’s why it’s extremely important to do your appraisal packets. But I see what you’re saying. Their standard should include what is the market. But they do have a section in their report that says what is the activity like? And they’re, you know, they’re supposed to to put that in there. But if they don’t ask and they don’t know, then they don’t have it right.

Well, Miss Shana Acquisto. Yeah, I do suggest that there are some additional information that should be added to Miss then. So when was the last time that we made a major change to it? So let’s think about this.

If we show how much income or commission that’s offered.

Now, if there’s if there’s been strong demand for property. Sure. Why is that not documented within Mlss for records? It might not be shared publicly.

Because I think it shows in the cost above list. That’s really the indicator of if it goes 112% above the list price and you’re

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What happens when there’s no real estate inventory that Shana Acquisto, she’s a luxury real estate broker. We’re going to discuss this. The prices go up. Do people start remodeling? What happens are they’re less new builds because all the contractors are remodeling homes now. Oh, man. Pent up demand prices. Through the roof.

And even slower on new construction. Those are all things that are extremely probable when there is no real estate inventory.

And we have an article combined with interest rates. We heard that this morning. You know, that interest rates are or was it 4.7? We heard this morning.

I heard someone it probably wasn’t that. But before that had a 4.7. That’s pretty that’s higher than we’ve seen in a long time.

Yes, it is. So your article, article, article. According to Inman, it’s a real estate authority.

And this is what they have to say. Inventory usually, usually underlined rebounds in the spring. Not this time. Oh. Oh. So we’re going to go ahead and take a look. And what we have the inventory walk to the annual trend dropping month over month in February, despite initially borrowing, despite typically bottoming out each December before rebounding in the spring. So we’re in trouble. So it comes down to.

What do we do? What do we do during this time that there’s no inventory? Well, we have to get creative. You have to think of yourself as a real estate consultant and you have to get creative. The way of doing business before, I think is changing.

You’re not just set up a search. Hey. Yeah? You want to go see this property? Yes. It’s going to be much more than that. We’re going to have to get creative. You’re going to have to network. You’re going to have to find properties and create opportunities.

I want to be given.

Specifically about the underlying factors that I also see happening here when there’s low inventory. So the issues that I do see with low inventory is that obviously prices are going to go up because now all of a sudden we have, if there’s not it, scarcity situation, right? There’s still demand and there’s been pent up demand from last year because people couldn’t get it last year said out wait.

So now we have like years worth of people who are demanding right standing there wanting homes and they can’t get them, plus new people moving to the area, plus people in the area who just want to move because whatever those are. So prices will go up.

And I think what’s going to happen is all of a sudden there’s going to be more people that want to remodel their current home because they’re going to say, well, I can’t move, so I want to stay, right? So now all of a sudden people have to stay where they’re at and they start remodeling. Now imagine if all those contractors would have been on new builds.

Well, if they don’t have anything to build right now.

But it’s more of an issue of the contractors, too, because now when people are willing to pay the contractor more to stay in their home but to remodel it, then all of a sudden now those employees or contractors aren’t ready and aren’t available for the new build. Right? So now we have a slowdown in new builds because people are paying the contractors to fix up their current homes.

Right. And you’ve seen personally how hard it is to get contractors out there for remodels, but now people are going to willing to pay so pent up demand all over the place. And this article has a ton a ton of information about what’s going on here and percentages and what’s going what’s happening. And so by the end of February 23, so a year from now, the typical home is expected to be worth almost 400,000.

Yeah. What was it before?

No, I don’t know. I think it was 365 is my guess.

So Hannah asked a question, what would happen for that inventory to start going up? Well, that’s what they’re doing now. Their one thing is raising the interest rates. Right. So it’s going to it’s going to start to balance out all of this craziness that’s going on. People are going to b

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NFT's come to real estate

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Zoho Calendar update. Who gets excited when there’s a new Zoho release and they update a product? All right, fine. I’m guilty. We’re going to talk about the updates that came to Zoho Calendar. We have a link. We’re going to chat that in.

We’re going to tell you how to use it. What are the resources possible uses that you can have and how you can share your calendar with some other people? So let’s go ahead and give that link and switch over here. Omkar is going to be nice enough to highlight some of these issues and throw it up on the screen and we can walk through this.

So here is the article. This one came out a little while ago. I’ve been holding this in the back pocket for a little while, waiting for just the right moment to make sure that we get this information out. So this came out in January, the end of January. So this is a couple of months dated now and these new releases are going to be available right now. They’re available now.

So updating your calendar. Yes, you should totally do it. You get a clean, clutter free interface. And who doesn’t like that? Right. Everybody is always clamoring for a clutter free interface. So that’s one of the things you get here. You can change the layout and look at it in different ways. So that’s going to be new and modern and bold and all of those things.

You have night mode, right? So check that out. Give it a look. You can work with teams across the world. So if you have people in other time zones, I know I have problems scheduling things from time to time when our calendar changes and there’s doesn’t necessarily change.

And I think for some reason that we are the center of the universe. And I quickly realized that like the time zone change here doesn’t translate and it doesn’t like auto ding to somebody else across the world to know that, you know, daylight savings time hit. Right? So those are real issues.

But here we have a different time zone. So you can have a different time zone in there and have that all noted for you. So that makes it easier. You can search smarter and faster. So did you know that there is a search feature in the corner of that so you can look through it to find different items, many, many different ways that you can search. You can search for details like event, location, organizer name, and you can find these things a little bit quicker.

So if you just remember, I don’t know, I can’t remember when, but Mike sent me something or whomever it is that sent that out, you’ll be able to search on those items. So if you just remember one piece, this should all kind of tie it together so you can find it shortages in double booking. So that has to do with resource bookings. So a resource would be something like a conference room maybe or Zoom meeting with Mike Dotcom, if that’s the case, if there’s only one of those, but we’re using it, maybe Logan for scheduling a media day.

So there are certain resources that are things. So what this is insinuating here is some type of conference room, some type of shared space that multiple people are trying to use and or book such as Logan. Then that’s a way to go ahead and do that. So if there are some enhancements there that make it a little bit better, maybe if Megan sees it better that she uses a resource like that and they can see Logan’s schedule or Media Day schedule, and that helps out. That would be good.

So there’s many different features that all come into play here, and whenever there’s an update, there’s different things that we can use to go ahead and take advantage of the changes in the technology updates. So spend a couple of minutes look at Zoho Calendar as it relates to you as an agent, see how you can take advantage of this. See if there’s a programming change that you can have to put in there to make your day just a little bit easier, right?

So there’s obviously notification bells on when things happen, how you get notified, what your standard thing is. All of this can be made a little bit easier

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What happens when an HVAC shortage hits Texas and the summer heat? We’re having problems, guys.

We don’t have enough HVAC components. There’s a real, real shortage, and that’s creating a real issue. So what we’re going to talk about is the fact that already before the summer even came, we have three week delays for much of the HVAC equipment, three weeks.

And that’s now when people aren’t even using the HVAC. What’s going to happen as we get later into the summer and all of a sudden things start happening? How long is it going to take to get a full system, all the different components, and what should you be doing to tell your clients?

So let’s kind of dive into this one about how you can be proactive and what what’s going to happen here. So we were talking through this with the owner of Frisco Air and he was telling me they are already four, four and five ton units. There’s a three week backlog before you can get it.

And that doesn’t mean that you can get the full system in that amount of time. It just means that you can get I think it was a condenser that you can get. And if you can’t get that component, then the system simply doesn’t work. And so there’s a lot of things that go into this and imagine once it gets a little bit busier and people really realize and the word gets out that like, there’s a shortage on this.

He’s had a lot of clients start to call him and be proactive and change out units before they need to be changed out.

Because they’re saying to themselves that, hey, I have a probability that I’m going to have a problem this summer. And my odds are, you know, 35% that I’m going to have a problem this summer and 60% next year and, you know, 85% a year after. Am I better to go ahead and proactively replace my unit now when I can get it and schedule it?

And if it’s going to be three weeks or a month or two months to get the equipment, if I’m on the list now and I go ahead and do it, then it’s actually taken care of. I might be doing it before the unit dies completely, but all the components, if there are available on two months, at least it’s completed now play through that.

If you wait those two months and you don’t do it and all of a sudden you’re in July and your unit goes out and other people’s units went out for them in May and April and June, and all of a sudden that happens. How long is it going to be for before you can get it?

How do you survive without added a unit? What if you only have two units in your house? What if the main one goes out? How do you do that? Right. What’s going to happen in real estate when all of a sudden somebody turns around and says it’s going to be six months for each vac for you? Right.

What do you do? It’s just hot. How can you do that? So there’s real challenges. So do people start turning to used units? Are they putting in used units that work to, like, limp through because they have to? How much you be willing to pay would you take if you wanted a whatever sear? Would you take this one? So the units that they’re going to be producing similar to cars, are going to be only the highest end units that make them the most amount of money.

If you have limited if you have a limited capacity in which you can put out, then which ones you’re going to make? The cheapest ones, the most expensive ones. Right. So now all of a sudden you’re only going to be able to buy like the highest and newest, the latest and greatest, the most expensive. So how does that compare with what you would maybe typically do? Right.

And if you don’t have a choice and there’s nothing available, are you going to take this unit? So are you better off to go ahead and order and get it done? These are real questions. So if you know anyone that has an older unit, probably a great conversation to have with them from a real estate perspective. And are these units going to be so expensive when that time comes?

Because if all of a sudden you can only get so many units and the the installers can only install s

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Tips to getting offers accepted by Shana. There’s many of them. People want to get them accepted, but we’re not sure exactly how. So we got a bunch of them. And did you know the first most important one is that you can ask to be present when the offer is presented.

We’re going to show all that stuff. We’re going to talk about deadlines, option fees, letters without violating fair housing. Yeah. And just kind of discuss it all.

But let’s talk about this because I don’t know that we’ve we’ve talked about this a couple of times. And, you know, Jean and I were talking over the weekend because she’s been working so hard with this one buyer to get an offer accepted and missing it by just slightly every time.

And she’s like, okay, this is it. I’ve got to get this one accepted. So we talked about some things, but here is something that I think could be interesting, right? So you the last NAR meeting of last year, they did vote in that you could be present, that the buyer’s agent can be present when the submission of offer is is presented to the seller by the listing agent.

So you can ask to be present, you can do it via zoom. That way, you know, your offer is accepted. Here’s what I’m hearing a lot of these presented or presented.

Yes, I’m hearing that a lot that I don’t know. I never get a response. I don’t even know if, you know, if they looked at it. Next thing I knew, it went to pending or it went to an under contract. So this is a way that I think from the get go that maybe you just ask, hey, could I be present when you know, I would like to be present when you present the offer to the seller.

So we have a link on that. We’re going to chat that link in and show it on the screen real quickly so we can discuss. Could this be a real headache? Yes, for everyone involved. However, you know, I think it stuns people, throws them off. The other thing is that if that gets you and you’re like, oh, I don’t know about that one, then at the very least, you can request in writing to the listing agent that you get a written acknowledge back, acknowledgement back that your offer was presented, right?

So at the very least you have that option and that should make you feel a little bit better. And if you get something back, then you can share it with your buyer.

So they know at least it was accepted, right? Unless the seller says, no, I am not doing that. I’m telling you that this is the you know, this is how the offer process is going to work. And they give those clear instructions to their listing agent that nobody’s going to be present. I’m not sharing anything. I’m. I’m not even going to put a deadline, whatever they are in charge to determine what they want to do. So unless they do that, you have the right. But if they do, say the seller said no. Great.

Could you please send me that in writing? Now, the last thing we want to do is is to be that agent that people want to avoid because you’re you know, you’re causing all these uncomfortable situations. We don’t want to do that. However, you can choose wisely and depending on who you’re working with on the other side, this could be an option.

I’m just saying ask for it in writing, because remember you answer to your client, so they need to know that you’re aggressive and what you’re doing, right. So at the very least, request for the acknowledgment to be given to you in writing that it was presented.

I like that. And I’m actually for that, I would say go ahead and do it. Try it. I challenge anyone to try it. It was kind of funny. We were talking about it, I think last week at agent agent meetings.

But can you imagine if somebody at you as a listing agent said, Hey, I want to be there, I just want to hear how you present my offer. It could be crazy. So a couple of other things that go against what the norm is is, you know, something that Jean and I were talking about is what if I set a deadline? So we know how that typically works. Okay. You’re setting a deadline. Really? We’re in the

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Debt service coverage ratio, also known as D.S. C.R., right, we’re going to go ahead and explain what this happens to mean in lending terms and how it’s helping out landlords. Owners of the property get loans done differently than they traditionally would have in the past.

And it’s kind of using commercial loans, OK for residential purposes, and it’s changing the dynamics of how this all goes on. All right. Ok, so it’s a little bit different and it’s all about like investments and how you can use retirement funds and you can diversify into this. And but DSCR is a concept.

So what we’re going to do is first start with what what it means. Ok, DSCR is debt service coverage ratio. DSCR debt service coverage ratio. So what that means is there’s a there’s a debt amount. So I’m going to use some numbers for people and this is specifically talking about investment properties.

If you’re purchasing something as an investment property, OK, what you’re going to have is how much income comes in on a monthly basis, right? And what your expense is for that property. Ok. And that’s your debt service coverage ratio. So I’m going to use a really simple, basic number and say that the amount of income that comes in is a thousand a month, so it’s like a rounded number.

So if a thousand comes in and so your income’s a thousand right and then you have expenses related to the property, OK, right. And the expenses would be everything that adds up to it. If it adds up to five hundred dollars, for example, then your debt service coverage ratio is five hundred divided by a thousand or 50 percent would be your DCR its income expenses. It’s a ratio.

Ok, debt service coverage ratio. Got it. Ok. And in that what happens is you’re able to get a loan based on the coverage ratio for the property. It’s a commercial loan, but it has to do with income and expenses, specifically just for that property. Ok. Not anything else to do with the actual borrower.

So it’s like the DTI, but It’s just for that property. Yes, just extremely similar. Ok, so DTI is debt to income ratio, but that’s for the whole. It’s for an individual right and it would talk about all of their debt. Mm hmm. And how much they have to pay. That is a minimum obligation on a monthly basis and income, how much they make divided by 12, and that’s their income ratio.

Ok. And then you have front and back end ratios for those. Ok. And this is exactly the same, except it has to do with the coverage ratio for the property desk is how much you owe every month over how much you bring in, not how much the property’s worth. Nothing to do with that.

It has nothing to do with that, but it’s really what it’s worth because that’s what the rental rate is that is bringing in each month

So the expenses such as. Everything’s included there, so that in that five hundred or whatever? Yeah. So when that five hundred what they would do is they would include everything in there. So I simplified it and just said it was five hundred. But what would happen is it would include your taxes, your utilities, a vacancy factor.

It would also include things like a realtor, expenses to release it, the property. So in that five hundred in this fictitious five hundred, it includes all of those things, plus your mortgage if you have one, right? So it adds up all those numbers. So that would be the five hundred dollars.

So tell me how the loan works then.

So how the loan works is they base it only on the property. Nothing to do with your personal stuff,

It’s only property specific. Ok, so it doesn’t matter if you own 17 other properties.

It doesn’t want to go purchase a property. Yes, and you they’re going to look at only the property, Ok, debt service coverage ratio. But for it to actually work, it all comes down to the same things. It’s a different word on the same. On the same thing, right, is you got to put money down debt service coverage ratio and what has to happen. This property has to be in the right balance, right?

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Historical housing prices, we’re going to go ahead and look at a chart because who doesn’t like a good chart when it relates to real estate and what we’re going to do is we’re going to show you why this feels different than it did in the past. We’re going to talk about some big trends that we see here with younger people moving back home, but not so young.

They’re in their thirties and forties and they’re moving back home because they can’t afford things as prices are going up. This is really happening. And then we also have people cohabitating together for a little bit longer and kind of like you’d think about, you had a college roommate.

It’s almost the same thing as an adult roommate and then put their buying houses together. I don’t know. And then we have other younger people who are starting to move out because they kind of caught their groove.

And we have like these small rental homes going on and they’re not apartments, but the rental homes, and there’s just a lot of items going on. So let’s go ahead and share this chart and start to discuss it. All right. So here’s our chart. And if we take a look right here at the middle of the graph, you’re going to see zero percent. So zero percent is a line that kind of goes along from the left to right.

And anything above that line is a positive and that’s going to be housing prices going up. Then we have anything below that line. We’re going to see that line is most notably in two thousand nine and then you’ll also see it in 10, 11 and 12. So you’re going to see it kind of in the beginning over on the left hand column. Ok. And so those are housing prices going down by a certain percentage and then obviously above is the ones going up.

So what we’re going to see is in two thousand nine, we had a housing price overall that went down by more than 10 percent. So we had negative housing prices or housing growth or shrinkage in values, right? So it went down by more than 10. Then it kind of went back up and it was a little bit negative.

So it was turning more positive than it was before, but it was still negative over the last year. So there was a loss in a loss, in a loss. But most great, the most great losses were in two thousand nine, according to this graph. Then what we see is it went up in twenty fourteen, roughly right.

So then we had we recaptured all of this negative. So if we essentially took those two numbers and kind of like swapped them and put them together, we would be almost at zero growth for the years between two thousand nine. And if we looked out all the way, maybe to twenty fifteen, if we just like, you know, took that average there, we’re at like essentially zero.

So it’s really crazy that you would go all the way from two thousand nine all the way out with essentially no growth, right? So we kind of had this pent up, well, deflation really, because we didn’t have inflation in housing prices and housing prices over a historically long period of time. Keep up with inflation, and that’s what it really is. So housing prices and inflation pretty much move in lockstep.

If you look at it over a 20, 30, 50 year time frame, they’re going to be about the same as inflation over that extended period of time. Now there’s anomalies that we have things that go on that cause more extremes, as noted with two thousand nine fourteen and then what we’ve seen recently.

So we have this other up. So what I showed you before in the early years is we kind of had this up in the down and then if we average them out, they’re about the same now. If we kind of take a look over after that in twenty sixteen twenty seventeen twenty eighteen, we kind of started to get back closer to housing prices, keeping up with inflation plus maybe just a little bit to kind of make up.

So if we looked at inflationary things being typically three percent and we’re having four or five and six percent growth, then we were, you know, exceeding that by just a little bit kind of making up, but not fully r

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Who chooses the title company? That’s a realtor, actually a luxury realtor named Shana Acquisto. My name is Mike Acquisto. We are real estate brokers together, and we’re going to talk about who chooses a title company. In certain cases, there’s buyers there sellers, there’s agents, there’s all types of stuff going on. Sometimes it’s above market pricing and we’re competing.

Sometimes, you know, it’s a different market. So there’s a lot of different scenarios. So we’re going to talk through this whole thing and show you an article here on who chooses in.

Why, right? And so you know who pays for it? That’s negotiable. Ok, so that’s a separate thing. But you guys may have noticed in when you’re pulling up your MLS sheets and you’re getting ready to prepare an offer. Sometimes the listing agent will have their preferred title company listed in the MLS.

Nice to know. Ok.

It’s preferred. So rest buy rules say if the seller is paying for the owner’s title policy and the lender’s title policy because if they’re getting a loan, there is a mortgage. The mortgage company requires their own mortgage. Well, then they can choose. But where the the questions and the vagueness comes is when seller pays for it.

The owners and buyer pays for the mortgage for the mortgage policy. So Rachel and I had this discussion yesterday about, she said, Do you ever like push that like if they have their preferred in there and you’re in multiple offers? Do you ever want to, you know, put in your own preference in there, OK? And the discussion is this guys. So you need to ask your clients, do you have a preference?

This is who the seller wants to use, you know, and I’m fine with it if you are. We typically use, you know, we have our own favorite title companies, but you need to ask that to the client because if something ever happens way later and they’re like, Well, I never got a choice in that I didn’t know I had a choice. You always want to just have that conversation with them.

95% percent of the time they’re going to say, I don’t know one, I’m going to go with your recommendation and that’s fine. But you know, we just want to make sure that we know who chooses, right? And when you are selecting a title company. All the title fees are fixed by the state, so you’re not going to get a better rate going with one over the other for the House or the policy. Now they can cut their escrow fees

Or raise them, and you might see a variation. They can’t change it every time, but those are fixed within the title company. So, you know, something that we’re going to be learning about later in another workshop. But what does all that mean? They use different underwriters right for insurance, and just kind of like homeowner’s insurance, you need to know what your coverage is, right?

And that’s a whole really separate topic that we’ll learn about later. But there are differences. So something that you would want to know is, is it a reputable title company? Have they been around for a long time? Because when you put money there, escrow fees, your earnest money, you want to make sure it’s protected.

I mean, so you know, basically it boils down to the service, if they provide a great service and they take care of you and make it super smooth and easy on your clients. That’s, you know, that’s who you really want to make sure that you’re going with. So but going back to, you know, if if you’re putting in an offer and you’re in multiple offers and you see the preferred title company, if it’s a reputable title company, I personally would just go with that title company.

You don’t want to get in a in a battle over the title company and who we’re using because, you know, is that really doing your client a service? You know, justice?

Now, if you’ve got in a fist fight over a title company,

People get very adamant about it. And if you have a client that somehow has a family, you know, a relative or a friend or someone that works at a title company, they may give you a l

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All right, what can we learn from Enron 20 years later? So this article came out on CNBC and we will kind of see what we learned from Enron. Well, the first thing that I learned from Enron personally was don’t lie, cheat or steal.

So those are some things that really might help you out to do if you are just a human or a business or any one of those things. And Enron failed to do those. So we’re first going to remind everybody of that. But they did have a lot of innovation, a ton of innovation that came from them.

And we’re going to see what those are. Now, the innovation was expensive because ultimately it resulted in a lot of like lying, cheating, stealing and financial issues.

But we’re going to take a look at this article and see what came up from Enron 20 years later. And I had forgotten a lot of these things, but they were actually innovators, and they were the people that really helped bring us Zoom and Netflix. Imagine that imagine a world that one of the most hated companies of all time was super important in putting Netflix and Zoom on the map.

That’s really crazy, like two of the most important things that we kind of have right now came from the company that we hate the most. Isn’t that weird? And so there are liars and cheaters and stealers. But we got that out of it, and there was all this corporate fraud and all these things, and it was like these stories that was built upon in this web of lies that was spun.

Don’t we kind of see that right now with some of the phishing scams that go around right where a message is put out in a story is told and it’s believed upon, and it’s almost a foundation for what kind of went on there? It was just this elaborate story that’s made up and eventually you get to a bad place, but it all comes down at the end, right when it can’t be supported.

So this article here, I’m going to chat in and put it in the description, and you guys can reflect and remember on some of these things. But if we don’t look at the past, then we are doomed to repeat it.

Right. So just maybe reflect on this and see what was going on. Glean just a little bit from it. It has been 20 years, but refresh your memory on what happened with Enron, and let’s not repeat it as a country or as an individual and see what we kind of learn from it.

But when I saw that Zoom kind of came from it and Netflix, I was like, Whoa, that’s really crazy, the technology investments that they did make and where they were at. But imagine if that company spun those things off now what that would be would have been worth, right? So were they really super, super impressive? That’s going to do it for us here, guys.

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Will millennials ever buy homes? What we have behind us is a home. Hey, Millennial, this one doesn’t have a basement, so I’m not sure exactly what’s going on. So with this two story, there’s probably a room upstairs where your classic millennial will be living, and Inman wrote an article about this one. So let’s go ahead and see what they have to say.

We’re going to chat this link in for you, and we’re going to discuss it in this classic sense. Me as Mike Millennials and I have a great relationship. I am super, super tight with with millennials and allowed to discuss all things related to them.

They gave me express privilege to be able to go and do that, and I feel very, very lucky and fortunate for that. So as we kind of go through this article, link again is going to be in the description. We’re going to scroll down just a little bit more.

And what we’re going to see is there’s still a lot of people that are living at home. I’m going to go ahead and take charge of this and scroll us down here a little bit. They have a couple of points and I’m going to kind of hit on and let’s see here.

All right, so the characteristics of millennials, most men are in late twenties now, and some are in their early thirties. They came to age during the Great Recession, so congratulations to them. They definitely have some things and they’re thirty seven percent of all the home buyers now. That’s a big percentage that it actually makes up. And there we go, and they see that they are depressed.

So this is what they kind of look have seemed depressed wage growth over the last decade. I’m going to say that that might be in their mind of what they see, if they see that. I would completely disagree with this. Wages are going up about as fast as you can and the economy’s on fire and that’s going to be on you. If your wages are down, they carry significant student loans, probably should have finished college on time and you would have been fine.

You should have been paying on it just like everyone else has before you and you had been OK. Your parents probably paid for a big part of it and or most of it, and all you have to do is pay back the stuff, the money that you spend on beer and you should be fine.

Your Cheetos fund that also does have to be paid back eventually. With millennials, adulthood coincides with a period of under building, meaning there is a low supply issue. Yes, there definitely is. And I think actually the problem is going to be even greater because there is going to be a time when they when they do decide to get out and start moving and there’s going to be a ton a ton of demand that goes along with it. So I’m not doing this just as a comedy piece.

I do believe that there’s actually some stuff underlying what’s going on here, places that millennials like and destinations that they do enjoy as boys in Austin. So those are some places that have seen huge, huge growth and also seen huge price appreciations. So it’s going to be more expensive to live there, dramatically more expensive. Remember, we saw Boise, we talked about that specifically, and that state was up thirty five percent as far as prices go.

So imagine how much it has went up just in the most expensive city within that area or the fastest growing one within that area. So prices are going to be way, way up and it is going to be a little bit more difficult for them to do it now, the distance between the home purchase and their previous residence. So they are tending to move further then other people have.

So if you’re selling a home to a traditional buyer that’s buying their second home or third home or anyone of those things, they tend not to be moving as far as they’re moving across the street, across town to a different neighborhood, a bigger house, a smaller house, a retirement type area. But what we see is that the millennials tend to be moving much, much further than than others might.

So you might be dealing with them over some different applications over f

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When is the right time to end a relationship with a client and make sure that you move on from them? So there are times when it is a good idea, but we’re going to kind of discuss the pros and the cons of it of when to throw in the towel. We’re going to talk about how many more deals would you close if you didn’t do that? Because I think that’s really an important thing to kind of understand. And when is it the right time, maybe to refer it to somebody else in the office, right?

Instead, because maybe it’s just a personality thing and we need to get to what is the real issue or ask for assistance. You can also ask someone to come in and kind of help you. If you if you have someone that’s super time consuming and needs a little extra hand-holding and care, you don’t want to terminate the relationship with them because of it. You want to help them.

So sometimes you need to ask for more help and we’re all willing. That’s what I love about us. We’re all willing to help one another, and we have some systems in place to be able to do so.

So don’t just throw in the towel. You know, I look at it as if someone is asking you to do something that is questionable or unethical or illegal. Obviously, that’s that’s easy. You you’re not going to do that.

Well, they might not know that that’s actually the case, right? So you. Sure.

But if it continues, then I think that’s a time, you know, I think several of you.

I mean, if you’re unsafe, if they’re, you know, there’s illegal things. If the person simply can’t buy a home because they won’t qualify, they don’t have the funds or anything like that, then those are really great times to do it.

But you know, if you do your following your process and prequalify them and do the proper steps, then that shouldn’t.

Yeah, they don’t even become a good client.

No. Then you, you put them on a different path. Stay in touch with them until they can be on the road to home ownership.

But you know, what I’ve seen is that over time, so this is kind of my stance on it is you always want to move on to the next client because it always seems like the grass is greener on the other side. And I’ve invested all this time and then like, I whatever, right?

You can feel all these things deep down about it. But over time, I’m on the other side and I hear when the agents are calling Shana or calling Stacy. And I understand that, you know, when they they’re battling through these things and are like, should I?

And what I kind of looked at is I looked at people’s numbers last year and how they did for the year. And then I look back and I’m like, Well, that agent, you know, would have wanted to and had discussions about throwing in the towel or moving on from clients this many times. Right?

That I’m too busy to take one more or I can’t whatever those things are. And then all of a sudden, what happens is you look at the numbers and it’s like, Well, you want to throw in the towel on this person, on this person and on this person. And they weren’t easy and they get that.

You didn’t want to take one more here, but you did and you worked it in, and it really would have been easy to go on vacation and not do this extra one. And then all of a sudden you add it up and it’s like, Whoa, that was five or six extra transactions, and it was potentially 20 percent of your income or 30 percent of your income.

It just really depends on what it is and like ends up that, Oh, I got I did get a referral from this person, and all of a sudden you’re like, Whoa, that’s a big number.

Just because someone needs the extra time doesn’t mean that you want to give them less of your expertise. I guess if that if that makes sense. So that’s where I was saying, maybe you need to bring somebody else in to kind of help them. Maybe they are, you know, I don’t want to use the word needy, but you know, I don’t know of another term. I can’t think of another term.

But if they are needy, then maybe you need to bring somebody in to help them, right?

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Do clients really cry to the realtors? This is luxury real estate broker Shana Aquisto, so she’s been cried to many, many times, and we’re going to talk about some of the things that you as an agent will deal with. Some of the things are sometimes you’re going to be a therapist, sometimes you’re going to be a best friend.

It’s really crazy how all of a sudden they become like, your best friend is a client, how they need you and super needy with you and they rely on you. You’re going to be their financial advisor in so many other things. So we’re going to go over all of that and more.

Yes, I have been, you know, purchasing a home or going through the real estate process. Purchasing or selling is stressful.

And if you’ve got many things, additional things going on, maybe this is your cracking point. And if someone does feel good to be able to let it all out and cry with you or whatever, then I think that goes a long way and that builds a bond shouldn’t judge, you

Know, you just think it makes him a sissy.

One time at dinner, we had this big, big, beefy client, like, I don’t know, he was a I think he was a power lifter, but it was at dinner and he kept calling and I’m finally, I have to take the call, so I take it and everybody heard it.

He was loud and crying and, you know, I talked him through it, got off the phone, and Mike said, Was he crying? Yes, he was crying. No. Yes, he was crying. But we worked through it and everything was fine.

And I think that is important to note that it’s just stressful for him. But I think that’s when I bet you if a client has cried to you or if you’ve bailed them out of jail, or if you’ve went through anyone of these things with them, then you’re going to get. You’re going to get repeat referral business from that individual. So embrace it.

Yep, embrace it, you guys.

Now, if you have bailed your client out from jail?

No. So anyway, I also want you guys to be careful, whatever your whatever advice that you’re giving your clients. Don’t cross the line, OK? Be there for them, but know when to stop and tap the brakes and say, Hey, we need to contact attorney and find to go with you. But we need to get the advice of somebody who’s a professional.

Yeah, I know that’s a really important point. And then because a lot of times are going through stressful things, that’s why they’re selling. So they’re selling for a good reason or a stressful reason, whether it’s divorce, separation or something like that. You know, maybe there is like a death in the family. There’s it’s

Stressful. Yeah. And, you know, understanding we did that last year, but understanding different personalities and how they behave and those identifying factors of who they are. So you can try to understand what they’re going to need from you is really, really important.

You guys should all. And it’s just a small difference in the course of the year in building that bond and truly caring. So if you’re with your client and you’re talking to him on the phone or you’re walking through any of these things, sharing a piece of you with them often gives you an opportunity to have them then share back, right?

But that’s how you make the difference in that connection. But I would argue that if you’re talking to your client, you should actually be focused, right? There’s all these distractions that are going on in your world, you guys, whether you’re driving down the road, whether you’re talking to somebody else while you’re on the, you know, doing what’s

Happening is you’re missing out. Yes, you do not connect because you’re not connected and you’re trying to multitask, but you’re missing out on a lot of key details that tell you so much.

And it’s just a small amount of a difference that when you make that happen, you’re so different than the other agents out there because you’re focused and you’re in that moment. And then when you do that, you’re close, rates go up just a little bit. And imagine if you closed just five percent more

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Hey, guys, so I want to talk about some upcoming matrix changes, so as you know, I’m on the MLS committee for our Association for CCAR, and they asked for some beta testers that would help in kind of going through the system to see how these changes are going to be affect us.

What’s happening is there is a data dictionary and it is a little complicated. It’s all about how the the terms are viewed and perceived by the public. There’s a lot to it, but they are changing and updating their data dictionary.

So therefore there’s going to be a lot of matrix changes. This data dictionary is, you know, they try to update it into words and phrases that people can identify with. So when I have Omkar slide over these changes that are coming up March 1st, just so you’re aware some will apply, some won’t.

But I think it’s good for you guys to to be aware. So below are the summer I mean attached. Here is the summary of these changes. So when you’re searching and going through metrics through your searches, you’re going to see the display change in a few few ways. Commercial for sale and commercial for lease are now going to be separate. We have them separate residential, so I understand that change.

Multifamily is now residential income. I don’t know about that, but you know, we’re going to have to kind of change what our thoughts are and how we’re thinking through these things. Residential condos and residential townhomes are now separate their separate search subtypes.

So I think I do like that, you know, as things start developing and we start seeing more and more condos and townhomes, I think it’ll be good to have those separate agent and office search is now under a new tab called roster.

So before it was agent search, so now it’s going to be roster sold and leased status is now called closed, you know, sold. That makes a lot of sense because leased is not sold.

So that’s a good change that I think they have temporarily temporary off market is now called hold, and I do get that because people are like, What does that mean? When is it coming back on the market? So I do think that makes sense. This next one I have an issue with, I don’t understand it.

I think it’s going to cause confusion and it’s just downright not accurate. So total baths now mean total of all baths. This means half baths, full baths, they’re all categorized under one. So if you now have a three and a half bath home, it’s going to be for. So, you know, maybe they’re going to add a subcategory to say how many half baths, how many full baths? I don’t know, but at this point, they’re going to display as a total.

So that’s really something you need to be aware of because if someone wants a half bath, you know, say all the bedrooms are upstairs and they want a half bath downstairs or some bathroom for people to not have to go into the bedrooms. I just think it’s going to cause some confusion.

They view their biggest change as the area and sub area categories are now being gone. I don’t search by that. That’s way back in the day where they had a map shows. Do you guys remember maps shows? You’d have to figure out where you’re going ahead of time and take that thing with you and and figure it out? Well, I don’t know. Maybe some of you use the area and some areas, but it’s going away.

You will no longer have that. You can, you know, a lot of us now just search. We either search by a school or by a city, or you can you can draw in your search parameters. So. So anyway, those are some changes. If you have any questions on that, let me know. But just something to be aware of and they don’t.

You won’t see those changes until March 1st, and I’m sure you’ll start to hear more and more about this. You know, the time draws draws closer. If you guys ever have any spare time, there are matrix classes that you can take at CCAR. I think it’s a good idea. I always learn when I’m, you know, just hearing some of these, these things from the classes.

There’s a lot of little shortc

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Good morning, everyone. Next week is our blast off, and then this is an event going to be happening at the Plano Event Center.

I’m going to have a car pull this over. We’ve talked about it before. There’s some great topics there, you guys. It’s a full day of just various topics and learning.

They do it every year, CCAR, and it’s really good to just kind of get back into the groove. Start your new year. They have economic forecasts. They talk about upcoming changes and new things and a lot of learning. I think it’s great. There’s one event that our topic that was attraction marketing how to gain people’s attention. I think that will be, you know, a really good topic.

I’m excited about that one. There’s tax protest economic forecasts that we talked about. We talked about Kelly Milligan. He delivers a great message every year about his economic forecast. And so he’s going to be there. So if you, you haven’t heard of him, you should. And then Leslie Ruta Smith, she’s the NAR president who is a CCAR member. She is going to be there and she’s going to talk a little bit about how to get involved.

We’re going to talk about diversity and how to unite your diversity. I love that and then reengage, reignite and reunite and ignite and unite. It’s kind of confusing. So anyway, before this didn’t offer, you know, you could come, and it’s a long day, nine to four. No see was offered.

But now they have S.E. offered with this. So you’re going to have to follow the same guidelines of being present, being in your seat. You’re not going to be able to come in and out if you want the credit. If you don’t need the credit, it’s fine. But if you have not registered and you want to go, I know a few of us are going from the office.

If you would like to, I think there’s 40 seats left. That was yesterday or the day before, so you guys can go in and register for this, and I think you would really enjoy it if you haven’t been just lots of great information kind of chopped up into different segments.

So it’s not a, you know, it is a long day, but you get totally different topics, which makes it very interesting. Then you have lunch. So if you’re planning to go, let me know. I’d love to see all of you guys there. I think it’s a great event. All right.

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Affordable housing. Maybe you need to move to Texas if this is a problem.

I think you do. That is Shana Acquisto. She’s a luxury real estate broker. We’re based here in Frisco, Texas. And we’re going to talk about how affordable Texas homes are compared to the national average and how everything’s still doing great here.

And it’s still super affordable. So we’ll talk about that first. Then we’ll talk about the prices being super valuable and favorable here. We’ll talk about how price appreciation has been 10 percent or more and I believe 48 states over the last recent past. So it’s crazy that it’s up that much. Yeah, and some have been as much as 20 to 30 percent.

Yes. Can you guys guess which two states have had, you know, the least amount of growth,

A price appreciation, price appreciation for the same home? So we’re going to have a link for you and we’re going to share the screen and chat in some stuff and we’ll get a little interactive and kind of move around this map and show that off.

Ok, so that link’s going to be coming over to you. You’ll be able to find that in the description, and I’m going to borrow the mouse right now and move it around just a little bit and see what we can showoff here. Let’s see. Yeah, so this is a price appreciation. Ok?

Double digits are shown by anything that is in the darker blue. Mm hmm. Ok. And then under that is going to be the lighter blue. Right. So the two states North Dakota and yeah, ten point nine. So these are under 11 percent, right? So under 11 percent North Dakota and Louisiana. As far as price appreciation goes, the whole tax is above 10. That’s as low as it is anywhere.

Ok, so then as you start to look around, we set that as like the floor. And normally you’d see negative numbers in certain areas, but they’re all super positive. So what that means is, is everything is going up, everything across the country, then we can start to look at some specific numbers. So the state of Texas overall is at eighteen point nine, and it’s still very affordable

Here. And here’s where it becomes why it’s really affordable. So let’s look at some of your other kind of favorite states. The state of Montana, about twenty six percent. What so if you were in Montana, you would suddenly find that, relatively speaking, Texas is more affordable to move to than it was for Montana. The relative affordability? Yeah, between the two. Now I also point out, if you maybe are a Idaho. Is that what they would be? Yep. Thirty five point

Eight% is continuing to climb like it is crazy there still. And we’ve talked to, you know, my family, my brother and his family live in Boise and we’ve talked to them. They’re both in real estate. So we know that isn’t that outrageous. Yeah, check California.

All right. So let’s take a look at California. So they are at 21.2% percent. So their prices, if we look at it before this, we’re way higher than Texas, and they’ve continued to gain more traction. So relatively speaking again, California coming to Dallas or to Texas, at the very least, it’s even more affordable than it was before. Yeah, on a relative index, you have to take in.

Remember that even though prices have one up here, where have they went up more and how much have we gained?

Yeah. And what were their prices to start with? Right. So if it was already on the cusp of being like way, not affordable cost of living and everything, just outrageous, then that could. Those are where we need to, you know, maybe visit.

Yeah, no. Exactly. Oregon up 20 percent, right? Nevada twenty three percent. Arizona twenty seven percent. So I think we compete a lot with Arizona and like the Scottsdale area, for people specifically like, where am I going to move if that’s the case?

So we are now way more affordable than Scottsdale. Relatively speaking again, yeah. So if businesses or anyone of those things are considering relocating, we’re going to be super affordable compared to their competitors. Yeah, OK.

And then if we

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Top interior design trends for 2022. Brought to you by this guy, so I’m bringing you some different trends. So I was out on the internet searching, you know, it’s like, let’s talk about this, so I’m typing it in top interior design trends.

Twenty twenty two and Vogue shows up. So the first one we have is going to be from Vogue and then Taylor Morrison. We know some people there.

Yeah, so I also have some trends from them, so we’ll discuss those. I had the links and we’ll chat those in so you guys can see it. But we’ll first start with some of the following.

I got to tell Mike something really quick.

Tell me, but it’s OK. I have no idea what you just said. Ok, I’ll tell you, I didn’t hear you.

It has to do with this. Ok? She just told me something in my ear to take me completely off track, and I actually don’t. I didn’t even hear what she said. Ok. All right, so let’s go to first item. Ok, you guys know what I said? Go to the first item here and vogue natural items are kind of one of the top things, right?

Nature, open floor plans, browns and mixed styles. So we’re going to go ahead and those out. No, those are in what they are all in, according to Vogue. I know I was totally heavy faux texture on the walls.

Is that in while you’re going to also see, well, keep going down. No, but take a look at the picture, right? So in the picture, we have natural items, right? So we have some browns in here. The floor, you know, looks like there’s a carpet in there and it’s got textures and woven type things.

It seems like the trend is going back to maybe some timeless items, which I really like. You know, we we saw the greys and the whites and these specific colors that I think people will get

Shades of brown are in, right? So I’m gonna go ahead and highlight that shades of brown, our style. I know you just wait long enough and the things come right back. Keep going down. Chocolate brown is back. Ooh, yeah, there you go. And then look at some of these items here. Keep scrolling on down.

We give you a feeling. Yeah, I maniac burnt. Burnt. Yeah, amber these. This is a darker Pantone that this is I thought this was this home was from, I don’t know, the nineties.

But then if you look, they’re putting different color things in it. So the blue vase gives it a pop of color. So maybe just throw something blue on your wall and off you go. Maybe you brighten it up with a white photo of maybe these rocks. Do they have icing or something that they probably do have a rock collection, nature inspired service and objects? We’re so hip. Keep on going down Omkar.

There’s some more stuff within here, and Sean was talking about textures, right? Yeah, so keep going. You asked about like faux finishes while sculpture and carved furniture and curved furniture. If we keep going down, we’re seeing like these are natural items and Feynman’s leather sofas.

Well, look, Italian plaster. Oh, is back. Yes. Can you believe that

We don’t have that, thankfully, but this is according I think there are some up at the lake.

So have you plug in on the ceiling there?

Oh no, that is really easy, really in style. Well, that’s what Vogue has to say. Let’s get a opinion number two. So they were saying natural items, open floor plans, browns, mixed styles altogether. Item number two is we bring the is going to be Taylor Morrison. Let’s see if we agree more with what they are doing, what they say. So they’re clean and

They mention a word, a phrase right in here. Modern, organic. They kind of hit on all of a sudden at Oh, who’d have thunk it? I’m more into the rustic, modern organic than just straight, modern organic. I just need a little bit of industrial, like the word industrial and modern, Industrial and organic.

They go, No, you just have to make it a little bit more masculine.

Now, stop right here. Here’s a color that I’m hearing. We’ve heard it in Montana. I’ve heard it here, and it’s this forest green. Is that a forest green or is that blue? I’m sorry. Its

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If you're selling your home, the most important aspect of marketing your property to potential buyers will be capturing flattering photos for your house listing. Great photos highlight your home's biggest assets and draw potential buyers in for showings, and showings lead to offers. With more and more people buying homes without touring them in-person, too, those photos you post online with your listing are doubly important: A particularly interested buyer might make an offer based on those photos alone.

"I've had many people buy without going into a property, and a lot of it is based on those tours and pictures online," says Patsy Rios Franzi, a real estate agent with Better Homes and Gardens Real Estate Universal.

andresr / Getty Images

If you're looking to list your property on your own, you'll want to spend time taking good photos of your property and your home's best features so the listing shines. (If you're working with a real estate agent, they will likely help coordinate this for you.) These tips from real estate experts and photographers can help you get the best pictures possible on your own.

Related: Why Functional Front Yards Are Spiking in Popularity

3 Must-Follow Real Estate Photography Tips Prep Your Home

Prepping your property for great listing photos starts with good home staging: You don't want high-quality photos to be ruined by a cluttered space.

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Zillow, the popular real estate app, is responding to the bike boom in the U.S. by letting users see how “bikeable” a neighborhood is when viewing a house listing.
Zillow recently added a Bike Score in addition to its Walk Score and Transit Score.

Whether you’re actually looking for a new home or you’re just cruising real estate listings and drooling over open-concept living areas, Zillow is likely an app you already have downloaded on your phone or bookmarked on your web browser. And this week, Zillow made itself even more appealing to cyclists by introducing a Bike Score alongside of its Walk Score and Transit Score, so you can see just how easy it would be to pedal to work from your dream house.

Zillow licensed the Bike Score technology from Walk Score, which it also uses on the site, thanks to the increased interest in cycling in recent years. According to Zillow, the Bike Score measures the “bikeability” of a home’s surrounding area on a scale of one to 100, based on the presence of nearby bike lanes and trails, nearby hills, destinations and road connectivity, and the number of bike commuters in the area. The Bike Score methodology was developed by experts at Simon Fraser University and the University of British Columbia, along with the Canadian Institutes of Health Research and data gleaned from the pre-existing Walk Score.

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How much does it cost to heat and cool the globe’s millions of office buildings and other commercial structures? A lot more than it should, as it turns out.

A majority of such buildings waste from 10% to 30% of their energy output, according to Logan Soya, founder of Aquicore, considered to be the leading provider of ESG analytics software for commercial real estate.

The waste puts the real estate industry front and center in the accelerating environmental, social, and governance (ESG) movement, whose critical eye focuses most intensely on corporate issues related to the environment.

In fact, casual observers who perceive the automotive industry as dwarfing other sources of carbon emissions might be surprised to learn that commercial real estate generates 39% of the global emissions total. It is, after all, a $30 trillion worldwide industry annually.

That means Aquicore, as well as other players in the ESG field, is at the cusp of a huge challenge, but also a huge opportunity. The company’s mission is to help its clients — mostly large commercial real estate firms — become more aware of environmental, social, and governance issues, ensure their compliance with ESG regulations in the jurisdictions where they do business, and identify and adhere to best practices.

Standardization Challenge

As CFO noted previously, a major issue with ESG adoption generally is how to account on financial statements for the nonfinancial data that ESG efforts generate. If a workable solution is found, companies then must prioritize getting stakeholders’ buy-in to the presentation — another arduous task.

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WASHINGTON – The country isn’t officially in a recession yet, despite two consecutive quarters of national contraction of the gross domestic product, a commonly cited indicator of an economic downturn, says Lawrence Yun, chief economist for the National Association of Realtors® (NAR). And even if the nation is facing an official recession, several healthy economic trends – including a robust job market, coupled with new efforts to boost affordable housing – could stave off a more serious slump.

New guidance from the Treasury enables state and local governments to use leftover emergency funding from the American Rescue Plan to create affordable housing. Yun says that should help ease the inventory crisis and counteract the effects of a tightening economy.

Still, there are questions about U.S. “stagflation,” a period of high inflation combined with an economic slowdown. But the National Bureau of Economic Research – the council that watches over U.S. business cycles – still hasn’t declared an official recession, Yun notes.

Major factors counteracting current slowdown conditions

Job creation is robust. Total payroll jobs were over 150 million in early 2020 before the onset of the pandemic, Yun said at NAR’s Real Estate Forecast Summit last week. While COVID-19 shutdowns precipitated a steep decline in jobs, each month showed strong job creation after the restrictions were lifted. Though there is variation across the country, Yun says, the job market has largely recovered.“We are essentially at the same level of jobs and W-2 employment now compared to pre-COVID days,” he said. Data from the Bureau of Labor Statistics shows that right now, there are more job openings than unemployed people. As of June, there were 5.9 million workers searching for jobs and over 10 million job openings. So, while high unemployment typically characterizes a recession, “the ratio [today] is almost two to one,” Yun said.“It’s a very unusual recession – if we are in one.”

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I mean, for me is real estate in addiction. We need to talk about that. Are people spending so long on their? Are they getting all these dames and bells going off when it when a great home comes up that they look at it and they’re like, Hmm, what’s going on?

Do they spend so much time there? Is it making homes sell faster? That’s Shana. She’s going to tell us some of the things that she thinks, Oh, wow. Well, so let’s pick a couple of spots to talk about.

So in the past, real estate used to the average person would take out a 30 year mortgage and they would live there and they would pay it off and then they’d be done right. And they would like stay there.

And then all of a sudden you start hearing some different numbers and then you’re like, Well, the average person only stays in their home for 15 years. It’s like, Wow, that’s crazy.

Then it was the average seven to 10.

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It’s harder than ever to afford a home in the US, with higher mortgage rates claiming a bigger share of incomes and prices still rising at double-digit rates across most of the country.

The monthly bill on a typical existing single-family home with a 20% down payment jumped to $1,841 in the second quarter, according to the National Association of Realtors. That’s up 32%, or $444, from the first quarter and a 50% jump from a year earlier. Families spent about 24% of their incomes on mortgage payments in the second quarter, up from 19% in the previous three months and 17% last year.

The median price topped $400,000 for the first time, reaching $413,500. The 14.2% gain from a year earlier was slightly smaller than the 15.4% annual increase in the first quarter, thanks to a slowdown in sales. But that’s little comfort to would-be buyers who are stretching to afford a purchase and still getting tangled in bidding wars.

“Home prices have increased at a pace that far exceeds wage gains, especially for low- and middle-income workers,” said Lawrence Yun, chief economist for the Realtors group. “Overall, the national price deceleration inevitably followed the softening sales, providing well-positioned prospective buyers a small measure of welcomed relief.”

In the second quarter, 148 of the 185 metro areas measured by the Realtors group — or 80% — had double-digit annual price gains. That was up from 70% of regions in the first quarter.

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ride or die * *

when you are willing to do anything for someone you love or someone you really appreciate in your life. the person who you stand by in any problem and vice versa.

the term "ride till the end or die trying"

We are BFFS who will ride or die.

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Everything Must all Match To Close

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Home buyer love letters. Does it happen to be housing discrimination or is it free speech? It’s there’s like kind of room for both, and you can, depending on where you happen to be standing, you could look at it one way or the other, possibly that Shana Acquisto.

We’re not going to make our political opinions or anything along those lines. That’s not it. No, that’s not a thing. But we’re just going to discuss how you could see it from both sides. Yeah, sure, right. So I do have an article that I’m going to reference and I’ll pull up on the screen here for us.

And this has to do with the state of Oregon. And I just want you guys to see the issue here that the judge orders Oregon to pause its homebuyer love letter ban. Ok, so if I it’s like to

Like now you can send your love letters in. Yes, but you know. We went through this in the beginning of our crazy market, and we don’t see the letters so much anymore, and I think it’s just educating the buyers, but from a seller standpoint, if you’re selecting based on something subjective versus objective versus an objective item, then I think you’re just opening the door for lots of liability there.

You know, you can only accept one offer. There’s a whole slew of people that are not happy and they’re upset and they’re just desperate to find a home. So you just don’t want to put yourself in that corner to to be subject to an issue.

So, you know what? Just pick it based on who the other agent is. No, but I mean, honestly, if you just take a look at it, right, so take that comment aside, but you don’t know who the other buyer is on either side. Right, all you see is a name John Jim Rohn, like pick whatever name it happens to be.

On the other side, that’s the actual buyer. Mm hmm. But there’s an agent and you have experience working with this agent. And I think that’s where some of the great agents shine through is with that name there, and that’s where we want to make it.

And I think that’s a starting point. It is selected. Well, it’s a date. It’s a very important data point.

You know that person is reputable. Do they even greater than that when you’re narrowing down of offers that may be similar in nature?

And you know, it’s a fact to consider if we think that having a local lender that we know, like and trust is important, then so is the agent. So both of those are data points that you could consider. But the difference in distinguishing this here, if we’re to just talk about the issue at hand that we wanted to talk about is, is it housing discrimination or is it free speech? Right.

So you should be able to say, this is who I am. Right. And the other party should be making a selection based on specific criteria, not necessarily the person’s race, color, creed, sexual national origin, or like, whatever those things are. Yeah.

So and remember to the buyer’s agent could request to be present when the listing agent submits your offer or presents it to the seller.

Well, yeah, that’s a crazy concept, isn’t it? Yeah. All right. So go ahead. How does that work?

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NTREIS errors Open letter to NTREIS. It’s you, not me. You know, when you break up with somebody you normally say like, Oh, it’s not you, it’s like me, I need to do this and you give it to them the soft way. Or sometimes they actually need the facts.

It’s actually, you know, stress, you’re the problem. So let’s go ahead and we’re going to discuss this and tell you what’s currently going on. So this is a real estate agent. You probably understand that now is a busy time of the year. All these listings come on. I know as a company we have tons of media days that were just recently scheduled, executed upon and everyone says, Oh, let’s get my house ready to go live in the spring.

Well, when’s the spring when spring break? Know it’s all going on right now, right? Just depends where you live, what school district you’re a part of. Spring break is pretty much now. And everyone’s ready to go live with their listings, and we worked all winter to get them.

And now we have them in like we did all the work to do it. And then on the first, Ntreis says, Hey, we’re going to do this little conversion thing. We’re going to move from one standard to another standard and we’re going to like update some stuff and we’ll be offline for a couple of hours.

We’ll be right back. Don’t worry about it, right? And you’ll have to update these couple of things in there like, Hey, you’re going to update these three things like your new safe search. We’re going to like, modify this just a little bit like the bathrooms are going to be written a little bit differently.

What? The bathrooms. No, that’s not exactly kind of what was it? Right. So we’ve been getting all types of calls from all different angles of issues in what this relates to. So I will let you know that currently, if you have new listings that have went in since three one yesterday, they’re not going incorrectly. And when you push them out, if you have this new listing, they’re not showing up on Zillow on Realtor.com.

They’re not properly being syndicated. We have been testing it and we’re ready for it on our on our test server. And we were just on a meeting and we were able to get them to come through to our test server. So we’re ready for that. But the live server is something completely different. So we’ve been trying to work through this.

But at the end of the day, your listings, if you’re putting them on right now since three one are not syndicating properly as they should, and it comes down to networks and it comes down to them in their lack of documentation and their lack of rollout and lack of testing for major item.

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Unacceptable sq ft sources for MLS Listings What are some unacceptable, not acceptable, can’t use some sources of square footage for MLS listings that’s Shana Acquisto, she’s a luxury real estate broker and she’s going to give them to us right now.

But the most important one right off the bat that is not acceptable as a source for MLS listings is previous appraisals.

So I had an MLS meeting this week and it was interesting because we’ve had our new matrix changes and that’s a whole other, you know, bucket of problems that we’re experiencing. But there’s going to be some changes in the appraisal, how the appraisals are done from the lender standpoint. Ok, so that’s going to take that’s going to be another topic. We don’t have enough time to get into that right now. However.

We have to be careful, and this is what I want all of you guys to know because this is how we’ve done business in the past, we always ask when we’re at a listing appointment, could we see your pre? What is the most recent measurement of your home?

Most likely, it is an appraisal because an appraisal has the square footage. The appraiser comes in and measures the property and provides that OK.

But we’re using that as a source. And now the problem is is that’s not ours, that’s not ours to give. You have to think of it kind of like photos, right? You can’t use somebody else’s photos. You can’t use somebody else’s appraisal. So. Where you can use the previous appraisal is if you contact that appraiser and get written permission, then you can use that as a source. Otherwise, you cannot use it as a source.

Ok, so we have to be very, very careful with that. So this is something you’re gonna have to educate and talk about with your sellers that you my suggestion just to keep everybody out of, you know, to reduce your liability here. I think you use your tax source,

You know, if it’s correct. How do you know? So if you have an appraisal and it says one number that it was measured and then if you have your your survey or your tax

That’s in, you’ll see a big discrepancy like ours, for example, would have a discrepancy. Then my suggestion is, I mean, to save, you know, to to to save money there, contact the previous appraiser, ask him for written permission to use it as a source. They may or may not I don’t know how that’s going to work out. They may want a fee for it, right? They may want you to provide them payment for it.

I don’t know. Or there is an appraiser who will go out and measure the property and it’s a, you know, you pay a fee for that too. So you get an official square footage measurement that’s current. That’s probably your best option. But tax is going to reduce liability on you and your seller.

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Federal Reserve in Celina The Federal Reserve, they came to Celina last night, yeah, Christopher came out and we got to have a great discussion with them. He got to give a whole presentation. We have the whole thing right here. We’re going to show it real quick. Yeah, that’s Shana. She’s a luxury real estate broker. Huge. Thank you to Dr. Blake Bennett for putting this all together with public title. Was there?

Set it up with that for us, and it got super nerdy after the meeting and it was crazy. I was like, What is happening?

And guess who got to participate in all the super nerdiness?

My Federal Reserve race after Bennett and our new friend, we’ve met a new friend last night.

So without further ado, let’s talk about some of the things that the Federal Reserve kind of brought up. Now this is his personal opinion. It’s not anything related to the exact policy that they are going through.

But if we take a look at this. Yes, it did get super nerdy. I’m going to take control of the whole presentation on it.

Yeah, the whole super nerdy presentation. And as I scroll through, what you’re going to see is there’s twenty seven pages here and we can just, yeah, and we’ll share it and let you see. But essentially, he was sharing the difference in this recession and previous ones, right, related to demand in supply for different issues where we are.

Is Texas as it relates to other states or the rest of the country how we’re recovering, we’re home prices are where they’re likely to go, where supply is out for materials and inputs and all these different items.

Yeah, there were a lot of good stats. And one thing that it kind of came to light is, you know, historically every 10 years you have a recession right there like that happens. And it’s like, Well, no, that’s not necessarily true, and we shouldn’t expect that to be the case, right?

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How Higher Interest Rates Affect Home buying There's a lot of avenues to get information. recenter.com is a great source Interest rates are going to go up You can talk to your clients and give them some metrics. Will it affect the luxury market? maybe not . It will affect people that are already in multiple offers and bidding more for a home You have a DTI (debt to income ratio) you can borrow a certain amount of money from the bank based on what you earn. Loans with least qualified borrower so you will get the lowest interest rate. Just borrow from 1. It allows you to borrow twice as much. Mortgage will be in name of the person who borrows the money.

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Are all Cash offers ideal? Most of the time it is great, but make sure to verity proof of funds and verify your clients. People will give false proof of funds. Many investors are operating without a license, so be very careful. Do your homework and verify VOD - Verification of Deposit. You can verify the deposit in the bank to make sure the money is actually there. Have supporting information. Don't be afraid of different entities. They usually go smoothly.Be careful with assignment contracts.

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Rental rates up 18% Year over Year It means if you have children who want to buy a home, they may keep a little longer with you. Bigger homes coming back into play There is a lot of people in the same situation. There is people that can't move because of the increase in prices. People moving back in. Homes being built to fix those needs. More land needed - people moving to further places.

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Are you your own boss as a Realtor? We have to see if from different angles. It sometimes seems like your kids, agents are the boss. People sometimes get into real estate because you like flexibility. After so many years, you need to reassess. People start to burn out. We believe that you should continue to grow your career, you are the boss, look at previous years and see what you did correct and what you can change to improve. "You are the CEO of your business" - Be in charge of it. It takes years to grow your business, if you don't plan, you can fail, so plan and be consistent. Never stop caring. Give attention, care, plan, grow your business.

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Is real estate about sales? Is real estate about sales or is it more about the business process that’s we’re going to talk about right now with luxury real estate broker Shana Acquisto on some of the things that we talk about, right, is how are you growing your business?

Do you have to go door to door and get stuff? Do you have to talk to people one on one? Do you need to be in person? Is it about the process or is it about the sales person, right? Or is it a combination? Uh-huh. All right. So Shana, let’s let’s

Get into it. I think it’s a combination. Sure. I think our business is a relationship business. However, if you don’t have something to manage all those relationships, then I think you can fail, right? Yeah.

And you know, not that your relationship is going to fail, but are you going to be the first person they think of when real estate, a real estate need comes into play?

So and does any one individual have a large enough scale and scope or reach to get to all the right people if you’re not using the right system or process and you’re not doing things on a regular basis?

So if I was to take a look at it, I’m going to say that you and I are both real estate professionals and you’re successful and I’m in the business. And what I would say about that is that you can do real estate in many different ways. Sure. Right. Yeah. And it can work for you.

Well, it needs to work for you or it doesn’t work. So I like to say, you know, with the combination that each year I like to start out with a new plan, right? Look at last year, the previous year. See what worked, what didn’t revise your plan, your business plan and have a plan.

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Interesting Real Estate Stats Super interesting real estate stats with Shana Acquisto, real estate broker.

If they’re super interesting, but I think they’re things to just kind of ponder on and understand.

So what we’re going to do is go over where you could use them, how they’re applicable. You know, what clients would would like about them, how they can be dropped as like fun facts or just random stats or whatever they are, like stats.

And I think all of our agents have, you know, also expressed that they like them as well.

So it kind of shows your knowledge of the topic, right and your true professionalism, and you’ll find applications for them. Sure. So let’s kind of hit some. We have a link and Omkar is going to chat that and these

Are just mine. I mean, there’s random facts out there, everywhere. In fact, you had one that I wanted to start with from a while ago that I thought was super interesting. So this is where to go, Mike.

Well, I think the stat that you’re talking about, Shana in particular, is that the average real estate agent?

No, sorry, it was 86% of realtors do six or less transactions a year.

86% of realtors transact six transactions a year, or less or less. So if you’re above that number, you’re in the top 14%, you’re in the top 13%.

Yeah. So you’re in the top 13, you guys

And then you can like, have that badge. Imagine the badge that’s pinned on you. I’m in the top 13 percent. And you still you transacted seven properties. So yeah, celebrate that today on on a Friday top 13 percent.

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Lingering affects of the Texas Freeze of 2021 Valentines week when we had the freeze and affected everyone. Months after the storm, lenders were requiring information to make sure their home didn't have damage. There was lack of contractors and lack of supplies. Maybe they got paid by their insurance but fixed it themselves ( temporary repair) This are things you need to be aware of. Buy side- talk to them about this. Advise them to review and repair damages You have to dig and ask those questions Both sides , buyer and seller - make sure repairs have been done.

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Uponor plumbing system: Quick overview for realtors Unique plumbing system Pipe has memory and expands It uses 1/3 of the typical connection systems It uses less connectors It is something we will start to see in our new construction If you are going to new construction appointments, you can bring this up. It is smaller than PVC

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Rental Market Update January 2022 Article - fact based Rent is going up starting on February The increase is a deal breaker for many people since it is increasing substantially Home prices are up as well ibuyer programs are selling to institutional services and wait for appreciation. Tanner is moving (Manhattan) and there is a law where landlords get incentives and they can't increase so much the rent.

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Your client is buying a Zillow owned property What to expect ? Their buyer program is coming to a close, but they still have a lot of inventory and they are going to start releasing. 1/5 properties has now been bought by an institutional entity. Section 1 . Summary of material terms This contract takes the things that we have in our contract but expands in more things that we need to pay attention to. Read this contract, go through it and explain it to your client. Have your attorney look to this contract. In a market of multiple offers and giving up everything to get the deal, why would someone want to be done ? The process is very difficult You need to have a permit to remove a pool. It is important to find out things on time Don't take things for granted, because they can cost you money later.

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Multiple offers ...continue!

2022 multiple offers? It's the 10th of January and are we seeing multiple offers? Yes, inventory is still low. We are seeing multiple offers from $200,000 to 3.5M Housekeeping reminder on how to handle this: You. have to stand out, connect with the listing agent, make the connections and extract as much information as you can. Do everything you can to reach out to them. Suggestion: have an option period - don't make it 10 days. Have that conversation with inspectors in advance- be prepared Do some research and see if that property was listed before and had any disclosures before. Be prepared in advance. If you have a seller, you need to go through all the offers. You need to have a conversation with your client on how will you handle multiple offers and know what you are going to do. Multiple offers - blanks in the contracts, approval sent later - avoid this! Send the complete packet and make sure there are no blanks. Go to MLS and call the office if you can't contact the agent.

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Broadband for all by 2030

All the U.S? Will everyone get broadband? White house wants universal broadband by 2030, but it could take years to deliver. How dramatically will this change things. Expansion and conservation in some places will be important to protect what we currently have.

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Quick Overview: Environmental studies

Environmental studies are usually needed. Company: Enviro Assessment, PC Phase 1 : $2,000 they tell you if anything is needed to be studies further based on the historic use of the property (gas tank, storage tanks, chemicals, mine) Phase 2: more in depth study They also provide other reports : desktop review - if you already had a study done but you want to get it updated. Always ask questions - sometimes people have information that could be useful.

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Toyota 2030

What does this mean locally? Toyota headquarters is in Plano, TX They are investing $70 billion on electrified cars From a real estate perspective- is our power grid going to work with that? Could you go pass downtown? Tesl- app shows you where the stations are. It is free to charge. by 2015 they want to remove all the gas cars and only have electric cars

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Margin

The date on which the principal balance of a loan, bond, or other financial instrument becomes due and payable.

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Merged Credit Report

A credit report which reports the raw data pulled from two or more of the major credit repositories. Contrast with a Residential Mortgage Credit Report (RMCR) or a standard factual credit report.

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What We Can Learn From Parkinson's Law

Mike and Kyle were talking about how people were not super productive and they were at home all the time. The amount of time that you alot for a task is how long it will take you to get it done. Maybe we are spending too much time on a task Becoming mindful of your time - you can set a timer on your tasks

https://memory.ai/timely-blog/what-parkinsons-law-can-teach-companies-about-productivity

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Real Estate Word of the Day: Mortgage

A legal document that pledges a property to the lender as security for payment of a debt. Instead of mortgages, some states use First Trust Deeds. That's a wrap: Time available on Newport model home Halloween - Sunday - Keep track of how many trick or treaters you have Show me your listings

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Lessons Learned from Halloween

People wanted to get up and be nice and deliver candy There's people that didn't like Butterfingers Hover parents - Greedy kids Appreciative kids Wine for parents Less participation-- alternative celebrations - some people had parties and activities for the kids Maybe it is a result of the virus It shows you how people really are Things that you like and don't like - apply it to your business

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Open House Success Stories

Sometimes we get very busy and maybe we need to take a moment and you'll have an aha moment. Shana had one of those moments yesterday. 1 month ago , we listed Logan Trail - a couple came in and said they had an agent but Shana continued giving the information and spent some time showing the home. Last week they called Shana and said they fired their agent and wanted to talk with Shana because she showed that she cared. They met and said their agent was part-time and didn't feel they had the attention required. We should be the one who gives great information and a great real estate agent that cares. TNT - Try to give you something interesting and unique that you can use a resource We try to cover interesting and new things Be the real estate resource Open house with agent. Covert to your clients

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Choose Your Adventure : HOA Question

You represent the seller, the home is under contracts and just passed the HOA deadline. Dues are going to increase 5%. Communication has been given. Can they terminate the contract? A: Yes, Paragraph B of Addendum for Property Subject to Mandatory Membership NAR Convention - Shana is going today to California

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NAR Board Meeting Review

Overview from shana Shana is a NAR member that can vote Tomorrow or Friday Shana will be incoming president for CCAR. They become NAR director and attend the board meetings (1000 members) Voting items : 25-30 (for or against) They educate you in advance - little round table discussions about the topics Vote on the motion - amendments . Try to keep everything in track App for voting - it came to your email and you could only open it once . 40 seconds to make the vote

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Shana's Whirlwind week at the NAR Convention

BOD Approved motions Over 10,000 attendees. The whole week they ran out of coffee and there was no water Getting back into a routine was interesting . There hasn't been this kind of events in the past 2 years It was very educational for Shana. Shana recommends the conference Collin county staff attended as well Latest things that came out from the board meeting : 1. 6 changes to MLS - they are now going to require us to display our compensation (to support transparency) compensations for buyers and sellers Prohibit us from representing a home for free (can't advertise free services for buyers) Compensation $1 - you can't do that Data feed

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Local Broker Market Place

Last week Shana was in San Diego and learned a lot about trends People fighting individual battles. We all need each other. Makes us more transparent Sometimes we forget the bigger picture Save the link and visit it often to stay on top of our market Show value - why would people want to use our services Get valuable information and share

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Grow Your Business With An Accountability Partner

Could you grow your business using an accountability partner? Have somebody that keeps you in line There are many KPI - Key productivity indicators We have to spend time with others, we have to keep learning KPI is one of those key things Our business operates best when we have our Summer Luau and our Christmas Party. We were a little out of cadence because we didn't have those events. The accountability partner will help you keep in line. Meet new people, attend events, do networking and more. You have to write down your objectives and measure them.

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Juggling a hectice schedule as a Realtor

Amy has 3 kids , there is a lot of commitments with kids that age. You want to put them in all the activities and offer the best, being a realtor is a challenge because you need time for your family and clients. Your family needs to be understanding, they help Amy with their kids and she has a great support system. Belt is a traveling trophy that goes from one person to another. Using the belt in front of clients ?

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Is Your New Home New...

Refurbished home appliances Sometimes when people buy a home from a builder, they expect everything to be new With the pandemic, some supplies where short and builders had to do some things with appliances. Some went with refurbished items. We knew about it with a client that had issues with the microwave, so he called the technician and told them that the microwave was not new, it was a little old. They reviewed other things around the home. The AC was also old, they have a few refurbished items. You should ask this things to the seller or builder to make sure all the items are new. Brand new home is expected to have everything new, in this case, the home had things from 2018 that were refurbished

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Realtor Mobile Tech

Any technology that is mobile and can be carried with you to make your job as a realtor easier. A simple way to show your clients that you are tech savvy. The Ipad is a great example of this.

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Is Rent To Own Legal?

It does not work. Why it doesn't work If prices go up Why it does work If prices go down There are always work arounds to do this It is legal You can rent a home for a period of time and give non-refundable option fee to rent at a higher price than what the market price would be. Then in 1-3 years I could buy it from you. Pitfalls - what if from 1-3 years you're not ready to buy and you already gave a lot of money to the landlord - what if prices go up/ down dramatically?

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Hey, the new iPad 5 is out in real terms, this could help you out show shows the old one. Show us a new one. You’re a luxury real estate broker and you bring this with you all the time. You can do everything on your iPad. It’s just like a a larger version of a phone. But a lot of the apps are desktop. You can have the desktop version. It is a great tool for realtors Comparing iPad models - colors available Easy and convenient

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Musings from Montana: Travel Stories Rent a car for a short time, 2 days and call and say you need to extend your time. When you add a longer time frame it is more expensive. Rental vehicles tips get a good room - requested to move to a bigger room Shana wanted ice water , no ice machine in that floor , she went to the other floor and got stuck in the elevator Otis is in high demand - 4 hours of waiting for them to come and fix the elevator Otis guy said they should call 911 fire department they said not to try to open the doors. They showed in 5 minutes and opened the doors get up early and see everything - meet the locals- Italian leather shoes people that they met When they spoke wit the waitress, she said that her family was looking for ranches. They requested their contact information. People from the elevator invited them to dinner.

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How Repair Negotiations Affect Seller's Temporary Leaseback Situation : you are in the middle of a contract during option period, HVAC is old and not functioning as it should. You give credit HVAC to your client. When you negotiate it is shown as a $1 amount. They could go back and say they don't have the credit. You can't rely on that When you negotiate any repairs in the contract, when you create the sellers temporary lease (number 11 lease) you need to outline the information. identify it and keep it simple. Tenant is responsible for repairs. 30 days to release the deposit

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Frisco Performing Arts- Public/Private Investment New performing art center 99 million dollar from public funds EDC will be adding money as well AAA premium office spaces Luxury residential high rise

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Be careful with water If you participate in the program, they give you a little sign Frisco water stats - consumption of water Great information for clients moving to town. Better understanding of landscape

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Information on your cellphone - Add a picture Add your information so when you send it, people can see all your information Job and title so people can find you People will look you later, maybe they forget your name, or how to spell it When to send - text it to them the first time you speak with them "here is my cellphone contact information for you to save it to your phone" it is best that you do it for them What to include Photo Realtor

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Become a Local Expert

Hey there, let’s become a local expert by going door to door in real estate here. That’s luxury real estate broker and local real estate celebrity Shana Acquisto. We’re here today to talk about going door to door as a realtor, but not in the traditional sense. Right. What we’re going to talk about is having a list of people that potentially want to sell if something comes up.

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Number 1 Problem Limiting Your Real Estate Career

Prospecting - who to go after and how to accomplish things How to write contracts Soft skills - build trust with your clients Market knowledge - where are the right homes, schools, design of homes, what is going to be the best for your clients Networks- what other realtors do you work with? There are so many skills needed as a real estate agent Keep up with education and licensing Look at yourself and think where are you at your career - what can you do to improve? Take inspiration from people who are inspirational Mike Shepherd has great results in 4th Quarters Think and contemplate within your own mind of what you have going on and where you are weak, take action and improve. There's people that can help you succeed

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Panoramic Doors

Thanks to Newport Homebuilders: Put in vendor guide under windows/doors New local company that is doing a great job- We got the information from Kent and Amy Indoor / outdoor doors - they can make 90º corners The main difference with this system is there are no connecting panels, no handles, the doors look more than windows The only visible handles are seen in the master door Panels incorporate new technology - magnets in the doors It allows to have more space and it is easy to open and close Ability to completely open the doors Doors are extremely secure - each panel locks and engages with the other ones *Will be added to vendors guide

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Local Broker Market Place

Last week Shana was in San Diego and learned a lot about trends People fighting individual battles. We all need each other. Makes us more transparent Sometimes we forget the bigger picture Save the link and visit it often to stay on top of our market Show value - why would people want to use our services Get valuable information and share

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The Newest Texans Are Not Who You Think They Are

The record influx of recent arrivals from all over might be exactly what the state needs. That includes Californians. (And no, they’re not turning Texas blue.) Thank you Jean for the topic There is a misconception all around the country about Californian people. The are changing our state and what we love about it. That is false. People went out of california because of expensive cost of living, they just want lower taxes, a more affordable life. Don't put a big barrier on them. Article : who are the Texans

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CCAR 2022 Leadership Instillation Recap

Installation for next year. Shana is vice president elect. She will follow Marissa and learn the ropes for 2023. Shana will need all the help from agents. What's your theme and what are your goals It was in the WestIn hotel and the past board was there. Inauguration for NAR. She was here for the event. Former CCAR president . It is nice to talk to her since she has a great background. Marissa - CCAR President - she likes to have fun American flag shoes - they ordered more shoes for the leadership board to all have American flag shoes. Krista - event coordinator and friend of Shana The Current president - Ron - he experienced a difficult year last year. He had cancer and had to learn how to speak again. He spoke at the NAR convention and did a great job. He pushed himself. True power of positivity The reason why Mike and Shana decided to do this is because they think they owe the industry. There have been many brokers that helped along the way. They wanted to give back to the industry. It is a great learning experience. We hope to impact other agents in a positive way.

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When Does Capital Gains Come into Effect on Your Primary Residence

Primary residence - owner of the home for at least 2 years. Improvements - cost basis How much do you sell your house for. Gains - expenses Know your time frame Extraordinary income - it is taxed different Tax limited to 20% - most scenarios is 15% in long term capital gains - 1 year time frame short term capital gains You move out and rent and before the 6th year, you can avoid capital gains if you are renting all the time. Thanks to Logan for bringing up the topic.

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Real Producers: Remmy Award Shana Acquisto

It went from various iterations of voting, we kept advancing and we had success. They had to increase the voting level because many people were voting. Shana wanted for all of us to go so she reached out to Jordan who is the organizer. A lot of you came and it was great. We had a make up artist that helped us all girls and had a limo - kind of a prom night The make up girl quit on us , but we pulled it together and got 2 replacements - great team work 4:15 no limo - they didn't show up We had 2 big challenges but we pulled together with team work and got there. What happened that night? everyone was all dressed up, we had a great time We did not win the cover which is ok There was one more award and the CEO explained it was named after him. Remmy award - the best realtor partner that they had and embodied all the attributes of a good realtor. You have to be in the top 1% of sales Shana had no idea that an award existed. it was quite an honor to receive the recognition It not just 1 person that gets the award, it's all of us as a real estate family Mike's takeaway - person of the year . There were many people that could get awards and they didn't. So much talented people. 10,000 members , today Shana will become Vice president Care and express it every single day

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NAR Board Meeting Review

Overview from shana Shana is a NAR member that can vote Tomorrow or Friday Shana will be incoming president for CCAR. They become NAR director and attend the board meetings (1000 members) Voting items : 25-30 (for or against) They educate you in advance - little round table discussions about the topics Vote on the motion - amendments . Try to keep everything in track App for voting - it came to your email and you could only open it once . 40 seconds to make the vote

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McKinney Growing w/Tech Startups

They have investing as a community in technology, specifically small tech growing companies McKinney has a grant fund from MEDC. They have been investing in several companies. Basic idea - they take young growing companies and take the money and allows them to start growing It is impressive what is going on and how many businesses are growing. Frisco did the same and brought many new companies You can click the link and see the new companies that are entering the market (21 companies) Most recent company - real estate related It is good for homeowners- new jobs, keeping the real estate market hot, quality business.

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