Yeah, baby. Grizzly Bear Conflict Manager. Sign me up. I have to admit, I’m completely enjoying the love that this job post is getting, both on Slate and on Twitter. The truth is, it can’t be that much harder than real estate. Just replace a bear with a buyer who’s put in 30 offers over 2 years and is still getting outbid…this market hardly seems fair. I haven’t been writing much this week because I’ve been (virtually) attending R4 (RE/MAX’s annual company meeting) as well as the California Association of Realtors® “Leg Day.” Lots of knowledge dropped this week. It’s a little overwhelming and I’m still soaking it all up. I’ll start rehashing some of what I heard next week, but for now, we’ll just start off with our word of the week: endogenous.
- So, cryptocurrency is a thing and it’s not going away. R4 had a full hour explaining what it is and how to invest. Tom Ferry (the coaching universe that I belong to) has been talking about it a lot over the past six months and I’m beginning to understand why. 11.6% of individuals surveyed said that they had saved for some or all of their down payment by trading in cryptocurrency. That number is only going to rise over the coming years. It’s best to get familiar with it now. However, fwiw, bitcoin has dropped 5.38% in value since I made a small investment on Wednesday. Obviously, it has everything to do with me and nothing to do with what’s going on in the rest of the world.
- I sat through one of the most fascinating 45 minutes of this year (for me) on Wednesday, where I listened to Dowell Myers, a professor at USC. There wasn’t necessarily earth shattering, but the bluntness with which he spoke about failed policies and where the current market is was refreshing, “New people [buyers] are taking it on the chin.” That’s probably putting it mildly. He spoke during the CAR Legislative Day on Wednesday sponsored by the Center for California Real Estate (CCRE), the CAR policy research arm. I love the research that they turn out.
- Because only Putin is 100% to blame for the Russian incursion (invasion?) into Ukraine (and the individuals who have participated are only following orders…) this gem was in Forbes the other day: Putin could make housing even more expensive…Here’s the most important take away from the article (I’m doing this so you don’t even have to read it!), “…it is unclear how the situation [sic] in Ukraine will affect housing in the US.” 🤦♂️ According to the rest of the article, the worst case scenario is that higher energy (i.e. gas) prices will make buyers leery about making large purchases. Fewer buyers in the market actually seems like it might be a good thing for me. But what do I know? I’m only an industry professional after all.
- Housing affordability is at its lowest point in 15 years…during the run-up to the Great Recession. Affordability peaked in 2012 when the real estate market crashed – unfortunately – no one really had a job yet either so institutional and “mom and pop” investors cleaned house so that home ownership rates is at one of the lowest points ever recorded.
- Mildly disturbing…I’ve just spent 5 minutes trying to figure out why I can’t imbed this link: https://media.giphy.com/media/l3q2CRMVLfIp6y98Y/giphy.gif | I’m feeling a little Jim Traficant-like at the moment. Traficant was a Member of Congress from 1985 – 2002 when he was finally thrown out of office after being convicted, sentenced, and sent to Federal Prison on corruption and bribery charges (maybe racketeering, je ne sais pas exactement). His catch phrase whenever he was astounded that something could happen…”Beam me up.”
- And…I still can’t flippin’ embed a giphy. 😖 I wonder if it’s because I finally put IDX on my website and now it doesn’t know what to do. Nor can I figure out how to make it work? Looks like the “current listings” tab will continue to be blank for a bit longer.
There’s still no Major League Baseball season on the horizon, but at least Cal beat Sac State earlier in the week (sorry, babe…this is about the only argument I’ll [ever] win so I’m going to run with it. Luckily, South Carolina Upstate is playing Stetson in softball. March madness is coming with conference tournaments kicking off now. But most important, is that the American Canyon Community & Parks Foundation is having their annual open house on Sunday from 4-6pm at the Boys & Girls Club.