Today a fellow REALTOR and dare I say friend posted his foreclosure story here on Agent Genius.
It was clear from his writing how difficult it was for him to share this tale; the agonizing he had experienced prior to hitting the publish button was clear.
I read the post and realized at the end that I had been holding my breath. My anxiety had risen and I was really wanting a cry.
This reaction wasn’t strictly related to the post, although it was all about empathizing with it. My reaction was one of total UNDERSTANDING. As those of you who have followed my writings know: I just barely missed the foreclosure bullet, myself.
There But For The Grace….
In my writings many agents have reached out to let me know that they, too, have a distressed home situation. They don’t comment on my blog posts or put it on twitter or facebook….these are private messages of solidarity, understanding and camaraderie.
So now another agent had the guts to stand up and share his story. I applaud that spirit. His gutsy post makes me wonder:
HOW MANY MORE?
If he and I are willing to share our story, how many more are out there that can’t/won’t/don’t share?
I wager it is a lot.
Here is the thing: as professionals in the home owning business we think it looks terrible if we run into trouble. We are supposed to be super heroes of the homes. We don’t fail or flounder, WE SELL HOUSES gosh darnit!
News flash people: the housing market took a huge hit. We earn our living on the housing market. It doesn’t take a rocket scientist to figure that many, many real estate professionals are going to be in a bad place with their own mortgage during times like these.
You don’t have to write a post, you don’t have to respond to this one, but if you are reading this and are in trouble with your mortgage: PLEASE be kind to yourself. Please know that you are in good company and that more people understand your circumstance than don’t.
What helped me was working with home retention. It made me feel better to help others in the same boat and gave me the courage to continue to work. You can get yours back, too. You will find the way.
I look upon my situation now, almost two years later, with dreamlike (nightmarish?) quality. I have moved on and am recovering…you will, too. Better days are coming friends, let’s march there together!
Austin tops the list of best places to buy a home
When looking to buy a home, taking the long view is important before making such a huge investment – where are the best places to make that commitment?
Looking at the bigger picture
(REALUOSO.COM) – Let us first express that although we are completely biased about Texas (we’re headquartered here, I personally grew up here), the data is not – Texas is the best. That’s a scientific fact. There’s a running joke in Austin that if there is a list of “best places to [anything],” we’re on it, and the joke causes eye rolls instead of humility (we’re sore winners and sore losers in this town).
That said, SelfStorage.com dug into the data and determined that the top 12 places to buy a home are currently Texas and North Carolina (and Portland, I guess you’re okay too or whatever).
They examined the nerdiest of numbers from the compound annual growth rate in inflation-adjusted GDP to cost premium, affordability, taxes, job growth, and housing availability.
“Buying a house is a big decision and a big commitment,” the company notes. “Although U.S. home prices have risen in the long term, the last decade has shown that path is sometimes full of twists, turns, dizzying heights and steep, abrupt falls. Today, home prices are stabilizing and increasing in most areas of the U.S.”
Average age of houses on the rise, so is it now better or worse to buy new?
With aging housing in America, are first-time buyers better off buying new or existing homes? The average age of a home is rising, as is the price of new housing, so a shift could be upon us.
The average home age is higher than ever
(REALUOSO.COM) – In a survey from the Department of Housing and Urban Development American Housing Survey (AHS), the median age of homes in the United States was 35 years old. In Texas, homes are a bit younger with the median age between 19 – 29 years. The northeast has the oldest homes, with the median age between 50 – 61 years. In 1985, the median age of a home was only 23 years.
With more houses around 40 years old, the National Association of Realtors asserts that homeowners will have to undertake remodeling and renovation projects before selling unless the home is sold as-is, in which case the buyer will be responsible to update their new residence. Even homeowners who aren’t selling will need to consider remodeling for structural and aesthetic reasons.
Prices of new homes on the rise
Newer homes cost more than they used to. The price differential between new homes and older homes has increased from 10 percent traditionally to around 37 percent in 2014. This is due to rising construction costs, scarcity of lots, and a low inventory of new homes that doesn’t meet the demand.
Are Realtors the real loser in the fight between Zillow Group and Move, Inc.?
The last year has been one of dramatic and rapid change in the real estate tech sector, but Realtors are vulnerable, and we’re worried.
Why Realtors are vulnerable to these rapid changes
(REALUOSO.COM) – Corporate warfare demands headlines in every industry, but in the real estate tech sector, a storm has been brewing for years, which in the last year has come to a head. Zillow Group and Move, Inc. (which is owned by News Corp. and operates ListHub, Realtor.com, TopProducer, and other brands) have been competing for a decade now, and the race has appeared to be an aggressive yet polite boxing match. Last year, the gloves came off, and now, they’ve drawn swords and appear to want blood.
Note: We’ll let you decide which company plays which role in the image above.
So how then, does any of this make Realtors the victims of this sword fight? Let’s get everyone up to speed, and then we’ll discuss.
1. Zillow poaches top talent, Move/NAR sues
It all started last year when the gloves came off – Move’s Chief Strategy Officer (who was also Realtor.com’s President), Errol Samuelson jumped ship and joined Zillow on the same day he phoned in his resignation without notice. He left under questionable circumstances, which has led to a lengthy legal battle (wherein Move and NAR have sued Zillow and Samuelson over allegations of breach of contract, breach of fiduciary duty, and misappropriation of trade secrets), with the most recent motion being for contempt, which a judge granted to Move/NAR after the mysterious “Samuelson Memo” surfaced.
Salt was added to the wound when Move awarded Samuelson’s job to Move veteran, Curt Beardsley, who days after Samuelson left, also defected to Zillow. This too led to a lawsuit, with allegations including breach of contract, violation of corporations code, illegal dumping of stocks, and Move has sought restitution. These charges are extremely serious, but demanded slightly less attention than the ongoing lawsuit against Samuelson.
2. Two major media brands emerge
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