Compass
Pre-emptive Action
This from our Marketing Guru Leonard Steinberg, this morning, made me think of the countless clients whom I have represented who say the same thing once we have prepared their home for sale: "I love it and I wish that I had done this years ago. ". In fact, it happened to me this week. The seller liked her house a lot before but fell in love after some updates and minor staging. Luckily, lots of buyers are loving it too and we expect it to sell immediately. Seeing a home through our real estate broker lens is not always the way a client wants to live or can live in a home everyday but putting a different spin on furniture placement and accessories can enliven a whole home. A year or so ago, I helped a neighbor revamp a kitchen, paint the exterior and install railings and do some other basic updates to their home. They anticipated selling in 2020 and are enjoying the renovations now before they are ready to move on. Compass Concierge gives us many options to explore in helping sellers (or soon to be sellers) with this endeavor. Don't wait to get a refresh from your Compass connection before the holidays and be ready for a spring sale!
From Leonard:
Written by Compass Chief Evangelist - Leonard Steinberg
Saturday night I attended a rather memorable dinner party. One of the guests boldly proclaimed how she had had a facelift well before it became 'essential'. Not exactly the most politically correct or elegant words at a rather elegant dinner, but it made me think how too often homeowners - myself included - wait too long to refresh something in the house that may be better doing much earlier, BEFORE it becomes a real eyesore.
This post in no way is encouraging or even suggesting that anyone should get a facelift! I think doing so is a personal and private choice, and you should do whatever makes you feel good. This bold exclamation at dinner just made me think how often sellers think about renovating/upgrading to sell their homes when they could have done so sooner AND enjoyed the fruits of their labors for a few months or years. You know the seller who after cleaning up and fixing up their place for sale turns to you and says: "I want to buy this place now!" Wouldn't it be better and smarter to make our homes beautiful and desirable a lot sooner than the moment we decide to sell them? Keeping a home in pristine condition and current should be an on-going responsibility that is simply smart. It can also remove the panic (and potential additional costs) when things have to be done out of urgency.
The same applies to other things: cleaning up a desk or car before it becomes REALLY messy. Reaching out to your client-base well before you become less busy. Calling in a service for appliances before that odd noise turns into a breakdown. Addressing all these fix-its early and pro-actively can also be an effective stress reducer. Knowing you are prepared AND being able to enjoy your pre-emptive efforts fully are solid motivators to address things before they become urgent.
Economist Todd Britsch from MetroStudy Puget Sound area
At our All Agent Compass Meeting on Tuesday, Economist Todd Britsch from MetroStudy gave us in the Puget Sound area (and Washington state as a whole) positive news about trends and
anticipated growth through 2021. Although our market is becoming more balanced with greater inventory available, our area continues to have huge growth and more buyers than sellers and interest rates make buying right now very attractive.
DID YOU KNOW? BOFA Chief Economist Michelle Meyer provided a great summary of the US economy worth sharing...
DID YOU KNOW?
Information provided by Compass Guru Leonard Steinberg
At yesterday's Compass/Bank Of America meeting, BOFA Chief Economist Michelle Meyer provided a great summary of the US economy worth sharing:
* It’s all about the FED.
* We are in the 10th year of the business cycle, the longest ever.
* Business cycles don’t end because of old age, they usually do so because of vulnerability or shocks.
* The only shock right now is the trade wars. This could shift the entire global mentality of our economy if they continue or expand.
* Confidence is down.
* Domestically oriented components are strong. Slightly weaker but strong. International markets are not as strong.
* The US consumer is super strong.
* Unemployment is strong.
* Housing shows some areas of price stretching, mostly on the west coast. Pricing in some areas may be a little too inflated.
* The backdrop is solid for housing.
* The economy still has room to grow still for the next 6-12 months.....except for the trade wars. They are a cloud over the economy.
* The upcoming G20 summit may reveal an agreement or direction to a resolution.
* So far most consumer goods have avoided tariffs....if that changes, all could be different.
* We are in the midst of the crosshairs.
* The Fed watches all this closely. Chances are rates will be cut to offset any risks imposed by tariffs. September is likely, possibly sooner. Low interest rates bode well for the housing market.
* The 10-year treasury rate is down 50% compared to a year ago.
Watch the following indicators:
1. The Labor market. Job creation is key. Last month showed dramatic slowing. Was it just a single month blimp?
2. Wage growth shows the ability of the consumer to spend.
3. What are the market signals? Right now stocks are high and bonds are low. The yield curve is inverted, indicating the bond market believes a recession is imminent.
Key takeaway: The last recession was unusual in that it affected the ENTIRE US housing market. Today, with much more banking and lending regulation the chances of that repeating are lessened considerably. Housing 'recessions' are much more localized based on local economies and supply/demand.
Market Report for June 2019 presented by Chris Doucet
Our latest #MiniMarketReport is out, and the name of the game for May was Momentum! With low interest rates, strong job growth, and brokers adding new listings to inventory, we saw a strong start to the peak season with brokers reporting busy open house traffic and increased activity. We predict a solid summer for both buyers and sellers; with the increased inventory, buyers have more choices so sellers should enter the market “show ready” with a solid marketing strategy in place. Reach out for more information on being successful in the summer market. #MarketLeaders
