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As someone who has navigated the challenges of the real estate market for many years, I want to share a personal story that might resonate with many of you.

In my mid-20s, I found myself still living with my parents, even after getting engaged. My fiancée and I stayed with them while our home was being built. I’ve always believed that there is no shame in such an arrangement, especially given the current economic landscape.

Fast forward to today, and at 35 years old, my family and I are now living with my in-laws.

The rising cost of housing and the significant increase in interest rates have made owning a home more challenging than ever.

We may be witnessing a shift back to multigenerational family living, a trend that is becoming more common as families look for ways to navigate these financial hurdles.

For my wife and me, this decision was an easy one.

We both grew up in households where multigenerational living was the norm. It’s a part of our cultural background, and it has provided us with invaluable support and a stronger family bond.

I encourage you to consider the benefits of multigenerational living. It’s an option that not only offers financial relief but also strengthens family connections. As we continue to face a complex and evolving real estate market, exploring different living arrangements could be a viable solution for many.

My short answer is that it really depends on today’s market conditions. It almost seems like every buyer is currently waiving inspections to compete with other buyers. However, real estate agents are not home inspectors.

While many homebuyers and sellers rely on their agent for sound advice,

here’s my take:

Generally, a home inspection provides valuable information about a house that you might not otherwise know, especially regarding necessary repairs.

The simple exercise of attending a home inspection, paying the inspector, and asking questions is crucial.

You’ve already paid the professional for their advice, and I highly recommend that homeowners attend the inspection to continue asking questions and observing the property. This knowledge is invaluable and helps you become a more informed buyer or seller.

Where many investors go broke is not necessarily due to over-leveraging but because they fail to properly calculate their profits and losses. From my personal experience, losses can accumulate slowly and unexpectedly, draining your resources over time.

My biggest mistake during my initial two-year period of investing was not accounting for turnover in my investment properties. I was dealing with a market that experienced high turnover every other year.

Within less than two years, I found myself covering many expenses and, in most cases, breaking even or losing money.

However, within the past year or two, I have finally stabilized thanks to market rent increases and appreciation. Luckily, I’ve also been able to sell a couple of properties.

With that being said, make sure you accurately account for all factors affecting cash flow, such as turnover, when investing.

The Short Answer: No.

Here’s why:

The Human Touch: Being a realtor is a highly skilled profession that involves many facets beyond the reach of current AI capabilities. Real estate transactions involve numerous people, and there’s an intangible aspect of relationships that only a human can effectively manage. Building trust and a reputation as someone dependable and proficient in their work is crucial. This trust is typically achieved through direct human interaction and personal contact.

The Complexity of Transactions: A real estate transaction is not just a simple exchange; it involves negotiations, understanding client needs, and providing personalized advice. These are areas where human intuition and empathy play a significant role, something that AI cannot replicate.

Analytical Assistance: While AI can be incredibly useful in analyzing market trends, property values, and other data-driven aspects of real estate, the core of the business remains deeply rooted in human relationships. Business is generally conducted with people whom others know, trust, and like, and that level of connection is usually fostered through personal interactions.

The Future: I believe AI will continue to play a supportive role in the real estate industry, enhancing our capabilities to analyze data and improve efficiency. However, the essence of real estate—building relationships and providing personalized service—will always require the human touch.

Thank you for reading my thoughts on this important topic. As always, I’m here to provide you with the best service and insights into the real estate market. Feel free to reach out if you have any questions or need assistance with your real estate needs.

Most real estate agents look at the most recent closed transactions and base their decisions on what the most recent homes have sold for.

These comparable homes, or “comps,” are essential indicators for pricing a home that might be of similar style, size, condition, and age.

We also consider factors such as school districts, proximity to the subject property, and other relevant details.

However, I go beyond just looking at comps. Here are a couple of additional steps I take that many agents might overlook:

Active Listings:

Understand Your Competition: Active listings show who you’re competing against. Are your neighbors pricing their properties too high? Are they pricing them too low? How long have these properties been on the market?

Evaluate Property Condition: Compare the condition of your property to those currently listed. Is your property in better shape?

Pending Transactions:

Market Trends: Pending transactions are a strong indicator of where the market is heading. Are there many properties under contract, or are there very few? This can signal whether the market is shifting.

Market Stability:

Even if the overall market seems stable, pending transactions can reveal more about the current trends. They help us understand if the market is still favorable for sellers or if buyers are gaining an advantage.

By considering both active listings and pending transactions, in addition to comps, I can provide a more accurate and competitive pricing strategy for your home.

Feel free to reach out if you have any questions or need assistance with your real estate needs. I’m here to help!

The Power of Experience

One such skill is the agent’s experience. But not just any experience – I’m talking about the agent’s reputation among their peers and their track record of closing deals. This is something that many buyers and sellers often overlook, yet it can significantly impact the outcome of your real estate journey.

Imagine you have a listing and a buying agent you’ve worked with before shows interest. Your first thought is likely about your past experiences with them. Did they make the closing process smooth? Were they accommodating and professional? These questions reflect an often unseen but vital part of an agent’s skill set: their ability to facilitate a seamless transaction due to positive past interactions.

Competence: The True Competitive Edge

Another often underrated aspect is an agent’s competence. An experienced agent brings a level of proficiency and insight that can provide a significant competitive advantage. They know the intricacies of the market, the potential pitfalls in transactions, and the best strategies to achieve your goals.

This competence isn’t just about knowledge; it’s about applying that knowledge effectively to benefit you.

In conclusion, when selecting a real estate agent, consider not just their visible qualifications but also these hidden skills. An agent with a solid reputation and proven competence can make all the difference in your real estate experience.

Many people are often surprised when they hear that within two years of investing in real estate, I was able to acquire roughly 12 units. How did I do it? It was all done through leverage. Leverage is like a seesaw, and you definitely want to be on the right end of it.

Where many investors go broke is not necessarily due to over-leveraging but because they fail to properly calculate their profits and losses. From my personal experience, losses can accumulate slowly and unexpectedly, draining your resources over time.

My biggest mistake during my initial two-year period of investing was not accounting for turnover in my investment properties. I was dealing with a market that experienced high turnover every other year.

Within less than two years, I found myself covering many expenses and, in most cases, breaking even or losing money.

However, within the past year or two, I have finally stabilized thanks to market rent increases and appreciation. Luckily, I’ve also been able to sell a couple of properties.

With that being said, make sure you accurately account for all factors affecting cash flow, such as turnover, when investing.

The Short Answer: No.

Here’s why:

The Human Touch: Being a realtor is a highly skilled profession that involves many facets beyond the reach of current AI capabilities. Real estate transactions involve numerous people, and there’s an intangible aspect of relationships that only a human can effectively manage. Building trust and a reputation as someone dependable and proficient in their work is crucial. This trust is typically achieved through direct human interaction and personal contact.

The Complexity of Transactions: A real estate transaction is not just a simple exchange; it involves negotiations, understanding client needs, and providing personalized advice. These are areas where human intuition and empathy play a significant role, something that AI cannot replicate.

Analytical Assistance: While AI can be incredibly useful in analyzing market trends, property values, and other data-driven aspects of real estate, the core of the business remains deeply rooted in human relationships. Business is generally conducted with people whom others know, trust, and like, and that level of connection is usually fostered through personal interactions.

The Future: I believe AI will continue to play a supportive role in the real estate industry, enhancing our capabilities to analyze data and improve efficiency. However, the essence of real estate—building relationships and providing personalized service—will always require the human touch.

Thank you for reading my thoughts on this important topic. As always, I’m here to provide you with the best service and insights into the real estate market. Feel free to reach out if you have any questions or need assistance with your real estate needs.

Most real estate agents look at the most recent closed transactions and base their decisions on what the most recent homes have sold for.

These comparable homes, or “comps,” are essential indicators for pricing a home that might be of similar style, size, condition, and age.

We also consider factors such as school districts, proximity to the subject property, and other relevant details.

However, I go beyond just looking at comps. Here are a couple of additional steps I take that many agents might overlook:

Active Listings:

Understand Your Competition: Active listings show who you’re competing against. Are your neighbors pricing their properties too high? Are they pricing them too low? How long have these properties been on the market?

Evaluate Property Condition: Compare the condition of your property to those currently listed. Is your property in better shape?

Pending Transactions:

Market Trends: Pending transactions are a strong indicator of where the market is heading. Are there many properties under contract, or are there very few? This can signal whether the market is shifting.

Market Stability:

Even if the overall market seems stable, pending transactions can reveal more about the current trends. They help us understand if the market is still favorable for sellers or if buyers are gaining an advantage.

By considering both active listings and pending transactions, in addition to comps, I can provide a more accurate and competitive pricing strategy for your home.

Feel free to reach out if you have any questions or need assistance with your real estate needs. I’m here to help!

The Power of Experience

One such skill is the agent’s experience. But not just any experience – I’m talking about the agent’s reputation among their peers and their track record of closing deals. This is something that many buyers and sellers often overlook, yet it can significantly impact the outcome of your real estate journey.

Imagine you have a listing and a buying agent you’ve worked with before shows interest. Your first thought is likely about your past experiences with them. Did they make the closing process smooth? Were they accommodating and professional? These questions reflect an often unseen but vital part of an agent’s skill set: their ability to facilitate a seamless transaction due to positive past interactions.

Competence: The True Competitive Edge

Another often underrated aspect is an agent’s competence. An experienced agent brings a level of proficiency and insight that can provide a significant competitive advantage. They know the intricacies of the market, the potential pitfalls in transactions, and the best strategies to achieve your goals.

This competence isn’t just about knowledge; it’s about applying that knowledge effectively to benefit you.

In conclusion, when selecting a real estate agent, consider not just their visible qualifications but also these hidden skills. An agent with a solid reputation and proven competence can make all the difference in your real estate experience.

In today’s rapidly evolving world, where AI technology has advanced significantly, a common question I encounter is: “Will real estate agents be replaced by AI?” As a seasoned realtor, here’s my take on this intriguing topic.

The Short Answer: No.

Here’s why:

The Human Touch: Being a realtor is a highly skilled profession that involves many facets beyond the reach of current AI capabilities. Real estate transactions involve numerous people, and there’s an intangible aspect of relationships that only a human can effectively manage. Building trust and a reputation as someone dependable and proficient in their work is crucial. This trust is typically achieved through direct human interaction and personal contact.

The Complexity of Transactions: A real estate transaction is not just a simple exchange; it involves negotiations, understanding client needs, and providing personalized advice. These are areas where human intuition and empathy play a significant role, something that AI cannot replicate.

Analytical Assistance: While AI can be incredibly useful in analyzing market trends, property values, and other data-driven aspects of real estate, the core of the business remains deeply rooted in human relationships. Business is generally conducted with people whom others know, trust, and like, and that level of connection is usually fostered through personal interactions.

The Future: I believe AI will continue to play a supportive role in the real estate industry, enhancing our capabilities to analyze data and improve efficiency. However, the essence of real estate—building relationships and providing personalized service—will always require the human touch.

Thank you for reading my thoughts on this important topic. As always, I’m here to provide you with the best service and insights into the real estate market. Feel free to reach out if you have any questions or need assistance with your real estate needs.

Most real estate agents look at the most recent closed transactions and base their decisions on what the most recent homes have sold for.

These comparable homes, or “comps,” are essential indicators for pricing a home that might be of similar style, size, condition, and age.

We also consider factors such as school districts, proximity to the subject property, and other relevant details.

However, I go beyond just looking at comps. Here are a couple of additional steps I take that many agents might overlook:

Active Listings:

Understand Your Competition: Active listings show who you’re competing against. Are your neighbors pricing their properties too high? Are they pricing them too low? How long have these properties been on the market?

Evaluate Property Condition: Compare the condition of your property to those currently listed. Is your property in better shape?

Pending Transactions:

Market Trends: Pending transactions are a strong indicator of where the market is heading. Are there many properties under contract, or are there very few? This can signal whether the market is shifting.

Market Stability:

Even if the overall market seems stable, pending transactions can reveal more about the current trends. They help us understand if the market is still favorable for sellers or if buyers are gaining an advantage.

By considering both active listings and pending transactions, in addition to comps, I can provide a more accurate and competitive pricing strategy for your home.

Feel free to reach out if you have any questions or need assistance with your real estate needs. I’m here to help!

The Power of Experience

One such skill is the agent’s experience. But not just any experience – I’m talking about the agent’s reputation among their peers and their track record of closing deals. This is something that many buyers and sellers often overlook, yet it can significantly impact the outcome of your real estate journey.

Imagine you have a listing and a buying agent you’ve worked with before shows interest. Your first thought is likely about your past experiences with them. Did they make the closing process smooth? Were they accommodating and professional? These questions reflect an often unseen but vital part of an agent’s skill set: their ability to facilitate a seamless transaction due to positive past interactions.

Competence: The True Competitive Edge

Another often underrated aspect is an agent’s competence. An experienced agent brings a level of proficiency and insight that can provide a significant competitive advantage. They know the intricacies of the market, the potential pitfalls in transactions, and the best strategies to achieve your goals.

This competence isn’t just about knowledge; it’s about applying that knowledge effectively to benefit you.

In conclusion, when selecting a real estate agent, consider not just their visible qualifications but also these hidden skills. An agent with a solid reputation and proven competence can make all the difference in your real estate experience.

I often get asked, “John, how are you able to price a home so effectively?” It’s a great question, and I’m excited to share some insights with you.

Most real estate agents look at the most recent closed transactions and base their decisions on what the most recent homes have sold for.

These comparable homes, or “comps,” are essential indicators for pricing a home that might be of similar style, size, condition, and age.

We also consider factors such as school districts, proximity to the subject property, and other relevant details.

However, I go beyond just looking at comps. Here are a couple of additional steps I take that many agents might overlook:

Active Listings:

Understand Your Competition: Active listings show who you’re competing against. Are your neighbors pricing their properties too high? Are they pricing them too low? How long have these properties been on the market?

Evaluate Property Condition: Compare the condition of your property to those currently listed. Is your property in better shape?

Pending Transactions:

Market Trends: Pending transactions are a strong indicator of where the market is heading. Are there many properties under contract, or are there very few? This can signal whether the market is shifting.

Market Stability:

Even if the overall market seems stable, pending transactions can reveal more about the current trends. They help us understand if the market is still favorable for sellers or if buyers are gaining an advantage.

By considering both active listings and pending transactions, in addition to comps, I can provide a more accurate and competitive pricing strategy for your home.

Feel free to reach out if you have any questions or need assistance with your real estate needs. I’m here to help!

The Power of Experience

One such skill is the agent’s experience. But not just any experience – I’m talking about the agent’s reputation among their peers and their track record of closing deals. This is something that many buyers and sellers often overlook, yet it can significantly impact the outcome of your real estate journey.

Imagine you have a listing and a buying agent you’ve worked with before shows interest. Your first thought is likely about your past experiences with them. Did they make the closing process smooth? Were they accommodating and professional? These questions reflect an often unseen but vital part of an agent’s skill set: their ability to facilitate a seamless transaction due to positive past interactions.

Competence: The True Competitive Edge

Another often underrated aspect is an agent’s competence. An experienced agent brings a level of proficiency and insight that can provide a significant competitive advantage. They know the intricacies of the market, the potential pitfalls in transactions, and the best strategies to achieve your goals.

This competence isn’t just about knowledge; it’s about applying that knowledge effectively to benefit you.

In conclusion, when selecting a real estate agent, consider not just their visible qualifications but also these hidden skills. An agent with a solid reputation and proven competence can make all the difference in your real estate experience.

The housing market is anything but predictable right now. While spring and summer are typically the busiest seasons for buying and selling, this year is already shaping up to be an unconventional one. A recent survey from Bright MLS reveals that agents are feeling the chill.

Buyer Behavior Shifts

More Buyers Are Pausing Their Search: The Bright MLS study, surveying over 1,000 agents, found that 73% had a client pause their home search in the last six months. High borrowing costs and competition from cash-heavy buyers are significant hurdles.

Extended Search Periods: Buyers are spending months on their home search, with affordability challenges and multiple offer situations contributing to longer timelines. About 28% of agents reported that their buyers spent 3-6 months searching, while 24% said their clients spent more than six months.

Multiple Bids: On average, buyers who reached the closing table in April bid on nearly three different homes before securing one.

Seller Sentiments

High Satisfaction Among Sellers: Despite buyer frustrations, 84% of agents reported that their sellers were satisfied with the price they got in April.

Hesitant Sellers: However, 32% of agents had sellers who decided not to sell. The main reasons were difficulty in finding a new home and reluctance to give up favorable mortgage rates.

Seller Concessions: Despite the seller’s market, many offered concessions during April closings:

34% provided a credit for repairs.

Nearly 20% assisted with closing costs.

16% offered a home warranty.

Market Outlook

Mixed Views on Activity: About 46% of agents expect buyer and seller activity to be average over the next three months. However, there is a shift in buyer expectations:

40% anticipate high or very high buyer activity, down from 47% last month.

14% predict low or very low buyer activity.

On the listing side:

43% of agents expect seller activity to be low or very low.

Only 11% foresee high seller activity.

Stay tuned as we navigate these unpredictable times, offering insights and updates to help you make informed decisions in this dynamic market.

Most real estate agents look at the most recent closed transactions and base their decisions on what the most recent homes have sold for.

These comparable homes, or “comps,” are essential indicators for pricing a home that might be of similar style, size, condition, and age.

We also consider factors such as school districts, proximity to the subject property, and other relevant details.

However, I go beyond just looking at comps. Here are a couple of additional steps I take that many agents might overlook:

Active Listings:

Understand Your Competition: Active listings show who you’re competing against. Are your neighbors pricing their properties too high? Are they pricing them too low? How long have these properties been on the market?

Evaluate Property Condition: Compare the condition of your property to those currently listed. Is your property in better shape?

Pending Transactions:

Market Trends: Pending transactions are a strong indicator of where the market is heading. Are there many properties under contract, or are there very few? This can signal whether the market is shifting.

Market Stability:

Even if the overall market seems stable, pending transactions can reveal more about the current trends. They help us understand if the market is still favorable for sellers or if buyers are gaining an advantage.

By considering both active listings and pending transactions, in addition to comps, I can provide a more accurate and competitive pricing strategy for your home.

Feel free to reach out if you have any questions or need assistance with your real estate needs. I’m here to help!

The Power of Experience

One such skill is the agent’s experience. But not just any experience – I’m talking about the agent’s reputation among their peers and their track record of closing deals. This is something that many buyers and sellers often overlook, yet it can significantly impact the outcome of your real estate journey.

Imagine you have a listing and a buying agent you’ve worked with before shows interest. Your first thought is likely about your past experiences with them. Did they make the closing process smooth? Were they accommodating and professional? These questions reflect an often unseen but vital part of an agent’s skill set: their ability to facilitate a seamless transaction due to positive past interactions.

Competence: The True Competitive Edge

Another often underrated aspect is an agent’s competence. An experienced agent brings a level of proficiency and insight that can provide a significant competitive advantage. They know the intricacies of the market, the potential pitfalls in transactions, and the best strategies to achieve your goals.

This competence isn’t just about knowledge; it’s about applying that knowledge effectively to benefit you.

In conclusion, when selecting a real estate agent, consider not just their visible qualifications but also these hidden skills. An agent with a solid reputation and proven competence can make all the difference in your real estate experience.

One question that frequently comes up in conversations is whether real estate brokerages truly matter. Let’s address this directly: in most cases, they do not. While you may recognize names like Keller Williams, RE/MAX, Century 21, Berkshire Hathaway, and Compass,

The Power of Experience

One such skill is the agent’s experience. But not just any experience – I’m talking about the agent’s reputation among their peers and their track record of closing deals. This is something that many buyers and sellers often overlook, yet it can significantly impact the outcome of your real estate journey.

Imagine you have a listing and a buying agent you’ve worked with before shows interest. Your first thought is likely about your past experiences with them. Did they make the closing process smooth? Were they accommodating and professional? These questions reflect an often unseen but vital part of an agent’s skill set: their ability to facilitate a seamless transaction due to positive past interactions.

Competence: The True Competitive Edge

Another often underrated aspect is an agent’s competence. An experienced agent brings a level of proficiency and insight that can provide a significant competitive advantage. They know the intricacies of the market, the potential pitfalls in transactions, and the best strategies to achieve your goals.

This competence isn’t just about knowledge; it’s about applying that knowledge effectively to benefit you.

In conclusion, when selecting a real estate agent, consider not just their visible qualifications but also these hidden skills. An agent with a solid reputation and proven competence can make all the difference in your real estate experience.

When considering what makes a great real estate agent, most people think of market knowledge, negotiation skills, and client service. However, there are a few underrated skills that often fly under the radar but are crucial to a successful transaction.

The Power of Experience

One such skill is the agent’s experience. But not just any experience – I’m talking about the agent’s reputation among their peers and their track record of closing deals. This is something that many buyers and sellers often overlook, yet it can significantly impact the outcome of your real estate journey.

Imagine you have a listing and a buying agent you’ve worked with before shows interest. Your first thought is likely about your past experiences with them. Did they make the closing process smooth? Were they accommodating and professional? These questions reflect an often unseen but vital part of an agent’s skill set: their ability to facilitate a seamless transaction due to positive past interactions.

Competence: The True Competitive Edge

Another often underrated aspect is an agent’s competence. An experienced agent brings a level of proficiency and insight that can provide a significant competitive advantage. They know the intricacies of the market, the potential pitfalls in transactions, and the best strategies to achieve your goals.

This competence isn’t just about knowledge; it’s about applying that knowledge effectively to benefit you.

In conclusion, when selecting a real estate agent, consider not just their visible qualifications but also these hidden skills. An agent with a solid reputation and proven competence can make all the difference in your real estate experience.

In our ever-evolving real estate market, staying informed about your home’s value and equity position is crucial. That’s why I’m excited to introduce you to Homebot, an innovative tool that leverages artificial intelligence to provide personalized insights into your home wealth.

What is Homebot?

Homebot is a revolutionary platform designed to help homeowners make smarter financial decisions. By using advanced AI, it tracks your home’s value and offers tailored advice based on your unique situation.

Key Features of Homebot

Monthly Digest: Receive an easy-to-read monthly digest that keeps you updated on your home’s current value.

Equity Position: Understand how much equity you have built up in your home.

Trade-Up Potential: Calculate the potential benefits of trading up to a new property.

Auto-Pilot Functionality: Homebot automatically pulls data from top sources, ensuring you get the most accurate and relevant information.

Why Homebot?

Homebot simplifies the complex data surrounding your home’s value and equity. By delivering a personalized report each month, it helps you stay on top of market trends and make informed decisions about your property. Whether you’re considering selling, refinancing, or simply want to monitor your investment, Homebot provides the insights you need.

Get Started with Homebot Today

Ready to take control of your home wealth? Sign up for Homebot and start receiving your personalized monthly digest. Stay informed, make better decisions, and maximize your home’s potential.

If you have any questions or need assistance setting up Homebot, feel free to reach out. I’m here to help you navigate the real estate market and achieve your financial goals.

There are many ways to get a rough estimate of your home’s value, and most people turn to websites like Zillow, Redfin, Trulia, and Realtor.com.

As realtors, we often advise against relying solely on these sites, but it’s understandable why they’re popular—most people don’t have access to the same resources we do.

Rather than ridicule these tools, I’ve learned to embrace them. I analyze how the values they provide compare to my assessments as a real estate agent. For my clients, I subscribe to a service called Homebot, which uses artificial intelligence to evaluate home values.

Does this mean these estimates reflect the exact value of your home? Probably not, but they provide a useful starting point for discussions. As your local realtor, I’ve learned to value these tools and use them to complement my expertise.