December 17, 2021
As the holidays are quickly approaching, we wanted to take a quick moment to thank you for being a part of The Blueprint community. It has been one of our greatest gifts to be able to connect with you in this new way. We hope you’re enjoying what we have to share.
We’ll be back after Christmas with a riveting year-end roundup. In the meantime, have a happy and healthy holiday!
- James and David
You can breathe a sigh of relief because today’s housing market is much different than the pre-crash bubble of the early 2000s. While home prices have been hotter than ever, posting double-digit YoY growth for 10 months in a row, there are at least three reasons why this demand surge isn’t likely to be slowing down:
Right now, our local market of L.A. is facing a major housing shortage. That shows there’s no bubble here because supply is still far from meeting demand. Plus, we’ve already seen major corrections in cities like New York where prices spiked then leveled off. These high costs aren’t the product of a bubble, they’re the result of inflation coupled with demand.
Countless records were smashed this year as low interest rates, remote work, rising wages, and other factors converged to create the weirdest year in housing history. Here are just a few of the record-breaking highlights:
This is just a sample of the major records broken in 2021. To see the rest, check out Redfin’s full report here.
This year we sold close to $1B in real estate, making this a record-breaking cycle for us too. In all our years of experience in this business, we’ve never seen anything like this market before. And we’ve never been happier to be in this industry!
The biggest boom in Hawaii isn't coming from Mauna Loa, it's coming from the housing market. Wealthy buyers definitely know it too. As of September, there were 634 luxury home sales across the Hawaiian islands. That doubled the annual sales record from 2017. When the Q4 numbers are counted, it will blow the old record out of the crystal blue water.
The ultra-luxury market (homes priced at $10M or more) has grown even faster. In this extravagant market sector, sales volume is up 603% YoY. That added up to slightly more than $1 billion in home sales. Oh, and these ultra-fancy deals? The majority are all cash.
Even if you aren’t lucky enough to be an agent in Hawaii, you can capitalize on the trend. Connect with agents across the state to continue building your referral network. They might even send a buyer or two your way. And if you see a boom in a market you want to enter, you can always get a license in that state too. As we like to say, “If you don’t try, you don’t achieve.”
The news that just missed the cut
Advice from James and David to win the day
It’s tough to be the new agent on a team, but how you carry yourself over your first few months will set the tone of your career for years to come. Here are a few ways you can stand out when you’re new to the agency:
By the way, these tips don’t just apply to new agents. If you want to get noticed in a large pond, show up and show out as often as you can.
Keep the latest industry data in your back pocket with today’s mortgage rates:
We’ll see you back here next week with a special real estate year-in-review. And if you’re enjoying what you read, don’t forget to share The Blueprint with a friend!
- James and David
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