Eagles Exodus Continues: QB Carson Wentz Selling NJ Home

Following a trade to the Indianapolis Colts, former Philadelphia Eagles quarterback Carson Wentz is letting go of his New Jersey nest.

The Woodstown, NJ, spread on 11 acres is now available for $1.7 million.

Wentz’s exit follows on the heels of Doug Pederson‘s departure. The fired head coach recently placed his Moorestown, NJ, home on the market for $2.7 million.

The quarterback purchased his place for $950,000, shortly after being picked second overall in the 2016 NFL Draft. He’s clearly hoping to net profit on his investment for his stint in South Jersey. The property is marketed as “totally remodeled”—which is probably what justifies the sharp uptick in price.

The listing notes there’s a 23-acre farm adjacent to the property that’s also up for grabs, if a buyer wants to shell out an additional $299,000. The available acreage explains the vast amounts of land surrounding the home, with nary a neighbor in sight.

Wentz’s modern mountain-style abode features beamed ceilings, walls of glass, wide-plank flooring, and sliding barn doors.

With 7,408 square feet of living space, the layout includes five bedrooms and 4.5 bathrooms.

The open, airy living and dining space features a large entryway, as well as a staircase with custom banisters. It leads to the living area with built-ins, and a large kitchen, with stainless-steel appliances, a copper farmhouse sink, and a big granite island with seating.

A dining area adjoins the kitchen and features a stylish overhead light fixture. A large family room includes a floor-to-ceiling stone-surround fireplace, with access outside.

The owner’s suite opens to a deck, and comes with an attached, spalike bathroom, with a separate rain shower-head and soaking tub. Four more bedrooms offer private bathrooms and closet space.

The layout also includes an office, with built-in shelves and a fireplace.

On the lower level, the space has been tricked out with a custom bar, a lounge area with TV, and billiards area. Also on this level is a gym and a deluxe home theater that seats 10.

An additional garage space has been converted into another fitness area, with an indoor pool, a game room loft, work center, and a bonus hunting room with walk-in safe. If hunting isn’t your passion, this area could be turned back into garage space. In addition, there’s a three-car garage.

The lower level walks out to a terrace, outdoor kitchen, heated pool, and views of the pond.

The energy-efficient space includes geothermal heating, zoned AC, and a southern exposure, which all add up to low utility costs, according to the listing.

For those who commute to the city, the location is 30 minutes to Philadelphia sports centers.

Wentz, 28, had an up-and-down, five-season run in Philly. He was injured late in the season in 2017, which led to the backup Nick Foles taking the reins, and leading the team to an improbable Super Bowl victory over the New England Patriots.

After a disastrous 2020 season, Wentz seems to be hoping to revive his career with the Colts.

Val Nunnenkamp with Keller Williams Realty-Marlton holds the listing.

Source: realtor.com

926: From Living Off Savings to Millions in Annual Sales: Adedoyin & Amanda Adedapo

Down to their last bit of savings, Adedoyin and Amanda Adedapo almost had to give up on real estate. But instead of doing that, they gave it their all. Now, this real estate power couple is selling over $18 million in volume annually. On today’s podcast, Adedoyin and Amanda share the struggles they faced with their first few deals and the moves that made their business a major success. Listen in for a healthy dose of inspiration and several strategies you can implement to scale your real estate sales.

Listen to today’s show and learn:

  • Adedoyin & Amanda’s sales figures for 2019 [4:22]
  • Advice on targeting first responders [8:58]
  • Partnering with Disney as a Realtor [12:09]
  • How squatters almost ruined Adedoyin’s first deal [20:16]
  • Amanda’s first real estate client: her mom [36:02]
  • Advice on taking action [41:24]
  • Lessons learned through quarantine [46:51]
  • Advice on running a real estate business with your spouse [51:33]
  • How to break through your goals.
  • Plus so much more.

Adedoyin and Amanda Adedapo

The DAPO Group of Keller Williams Preferred Properties is the husband – wife team of Adedoyin (AD) and Amanda Adedapo, licensed real estate professionals in the DC, MD, and VA metropolitan areas. They leverage their expertise in digital marketing, photography, design and community marketing to effectively market properties across the region.

AD and Amanda work to provide home ownership opportunities that help sustain the vitality of their communities. Skill, tenacity, and collaboration are what drive the DAPO Group. The professional balance and cohesion AD and Amanda possess both in business and life are instantly visible, complementing one another to provide exceptional service.

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Thanks for Rocking Out

Thank you for tuning in to Pat Hiban Interviews Real Estate Rockstars, we appreciate you! To get more Rockstar content sent directly to your device as it becomes available, subscribe on iTunes or Stitcher! Reviews on iTunes are extremely helpful and appreciated! We read each and every one of them, please feel free to leave your email so that we can personally reach out and say thanks! Have any questions? Tweet me, Facebook me and ask Pat anything. Don’t forget to head on over to Bare Naked Agent for Pat’s answers, and advice. Thank you Rockstar Nation, and keep rockin!

Source: hibandigital.com

374: Can You Succeed in Real Estate by Modeling Your Business on FedEx? Kenny Klaus is Living Proof that You Can!

Kenny Klaus is a nationally-recognized expert in local real estate. Since 1999, he has dedicated himself to serving the East Valley community. As Team Leader, Kenny provides strategic direction for The Kenny Klaus Team while serving as the Lead Listing Specialist. He also specializes in HUD homes, Short Sales/REOs, as well as New Build and Traditional transactions. Kenny is a Certified Residential Specialist, a Certified Distressed Property Specialist, and an Accredited Buyer Representative. He is a Double Platinum Award Winner, a Multi-Million Dollar Award Winner, a Hall of Fame Member, and Chairman’s Club Member. Kenny is a popular teacher in the real estate industry, and has spoken to thousands of Keller Williams Realtors at their national events as a guest of KW’s co-founder and chairman.

Join us as Kenny shares his mindset and a glance at his journey to becoming a Real Estate Rockstar by becoming a nationally-recognized expert in local real estate.

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858: Inauthenticity Is Killing Your Real Estate Career with Peter Lorimer

Peter Lorimer, co-host of Netflix’s hit new show Stay Here and CEO of PLG Estates, hates to see agents kill their careers with inauthentic approaches to branding and business. Peter says, “If you find yourself as a real estate agent thinking, ‘What do I need to post, what do I need to say, what do I need to get the most eyes on,’ that’s a slippery slope to homogenized bullshit.” On this podcast, you’ll hear why cookie-cutter agents can’t close modern consumers, how going against the grain made Peter the top Keller Williams agent in Los Angeles, and what you must do to ensure your brand’s longevity.

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High-Low: The priciest and cheapest homes in La Cañada Flintridge

La Cañada Flintridge: home to Descanso Gardens, NASA’s Jet Propulsion Laboratory and a healthy stock of hillside homes with commanding views of the city below. Between the houses draped along the foothills of the San Gabriel Mountains or the larger estates on the south side of the city, it’s hard to go wrong — but it’s also hard to find anything for less than $1 million.

Here’s a look at the highest- and lowest-priced homes in La Cañada Flintridge.

High: A dazzling blend of Spanish Colonial Revival and Art Deco style, this 1920s mansion has been expanded over the years to include a pub, theater, gym, sauna and lanai. Throughout the 13,000-square-foot floor plan, one-of-a-kind spaces combine Batchelder tile, barrel ceilings, stained-glass windows and custom art such as a peacock made of colorful tile in the bathroom. Koi ponds, fountains and a swimming pool liven up the grounds outside.

Address: 607 Foxwood Road, La Cañada Flintridge, CA 91011

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Price: $10 million

Agent: Gina Olivares, Deasy Penner Podley

Low: A fresh paint job brought this 1960s single-story into the 21st century. Perched above the street at the end of a cul-de-sac, it opens to sunny living spaces with wood floors. At the heart of the floor plan, a whitewashed brick fireplace runs floor to ceiling.

Address: 4407 Rockmere Way, La Cañada Flintridge, CA 91011

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Price: $1.094 million

Agent: Stephanie Vitacco, Keller Williams Realty

Source: latimes.com

6 Things You Should Never Say When You’re Selling Your Home

You know that expression about loose lips sinking ships? It holds true for selling your home as well. Sure, there are some things you have to disclose to buyers—such as if your home has lead paint or is located in a flood zone. But there’s plenty more you might volunteer when you would be truly better off keeping your mouth strategically shut.

We’ve already revealed the things buyers should never say to sellers. Now, let us share some things that sellers should never let slip to buyers, or the agents representing them.

To help hone your “less is more” attitude when it comes to talking with prospective buyers, here are a few doozies that agents recommend never, ever saying.

‘Our house is in perfect condition’

Your home is your castle, and in your eyes it may seem perfect—but don’t make claims that aren’t true, says Cara Ameer, a Realtor® with Coldwell Banker.

“The home inspection may reveal otherwise, and, as a seller, you don’t want to wind up putting your foot in your mouth,” she explains. Bottom line: “There simply is no such thing as ‘perfect condition.’ Every house, whether it is brand new or a resale, has something that needs to be fixed, adjusted, replaced, or improved upon.”

If you’re not sure what to disclose, talk to your agent about the history of the house. Together, you can figure out what is important for buyers to know. Don’t have an agent yet? Here’s how to find a real estate agent in your area.

‘It’s been on the market for X…’

Never, ever discuss how long the home has been on the market with prospective buyers, says Pam Santoro, a Realtor with Berkshire Hathaway HomeServices. This info is often listed and available on the home’s information sheet, but bringing it up—especially if the home has been available for eons—can send sellers the wrong message. No one wants to buy a white elephant—and, if they do, it’s probably because they think they’ll be getting it dirt-cheap.

‘We’ve never had a problem with…’

If you’re hoping to move quickly, you may be tempted to tell a few little white lies. So you never had a problem with weird neighbors, eh? Or flooded basements? Or vengeance-seeking poltergeists? Realtors agree that your mistruths—however insignificant they might seem—could come back to you with teeth.

“You’re setting yourself up for potential liability,” explains Ameer. “You may not even be aware of the problem at first, but it could  translate into an embarrassing moment upon inspection.” So come clean with what you know and admit what you don’t.

‘We always wanted to fix/renovate that, but…’

Tempted to mention, “We always thought about knocking this wall down and opening the space for more light?” How about “We planned on renovating this bathroom but ran out of cash”? Mum’s the word when it comes to fixes you intended to address. Nobody cares about good intentions.

“When sellers point out things they might change, this only alerts the buyer of more upcoming costs for them,” says Maryjo Shockley, a Realtor with Keller Williams. Who knows? Your buyers may not even want to knock down that wall or redo the bathroom. So why plant those ideas, along with those dollar signs?

‘We spent a ton of money on X, Y, and Z’

Just because you love the Brazilian koa wood flooring you installed throughout the first floor, that doesn’t mean prospective buyers will be willing to shell out for it.

“The buyer doesn’t care whether you spent $10,000 or $100,000 on your kitchen,” says Ameer. “They are only going to offer what they feel the home is worth in relation to area comparable sales.” So, save your breath, or else you’ll risk sounding like you’re trying too hard to justify your price. Desperation isn’t cool.

‘I’m not taking less than X amount for my home’

When it comes time to sell, it makes sense that you want top dollar. We get it! But at the same time, it’s important to be realistic and open to offers within a reasonable range.

“If you send a message that you are inflexible or not open to negotiating, it may not invite buyers to even try to work out acceptable price and terms as they will feel defeated from the start,” says Ameer. “Word may spread that you have this sentiment as a seller, and people may start to avoid the house.”

Source: realtor.com

420: Increase Your Real Estate Profits Using Dan Holt’s Team-Building RoadMap

What’s the essential first step to building a money-making real estate team? Hear Dan Holt share that all-important first step and everything else you need to know to create team that will increase your real estate profits year in and year out. You’ll also hear a ton of valuable nuggets from Dan as he touches on getting listing leads, a listing script to close the deal, setting up a system for buyer leads and much more. Are you ready to make more money in real estate? Let’s get started now!

Dan Holt has built the #1 real estate team in SW Missouri in just a short 5 years. He has followed the Keller Williams model while focusing his team on specialization. The Dan Holt Team has sold over 500 homes in the last 2 years and is consistently challenging the market.

Join us as Dan shares his mindset and a glance at his journey to becoming a Real Estate Rockstar by helping people attain their goals.

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Now Renting in Calabasas, Nelly Is Selling Abandoned Mansion in Missouri

Nelly is ready to take off from his abandoned Missouri digs. The hip-hop star has placed an unfinished remodel in Wildwood, MO, on the market for $599,000.

This is a precipitous drop from the listed price of $2.5 million in 2002, when the home was last on the market.

The St. Louis native reportedly snapped up the property, billed as “Tuscan-style architecture,” as an investment opportunity. Sarah Tadlock of Keller Williams is now the listing agent.

Mansion in Missouri

Unfortunately, the Grammy winner has less than a winning touch with this real estate.

Apparently, the plan a couple of decades ago was for Nelly to buy the place and then flip it with a “contractor friend,” TMZ noted. And although some work appears to have begun, the project now looks as if it was abandoned long ago.

Two decades later, the home has fallen into a state of disrepair. For buyers who know their way around a rehab, the home is a deal.

Just be sure to add in a (hefty) budget for renovations, and plan to flip the finished product, or move in.

“It’s quite a home. It’s pretty spectacular,” says Coco Bloomfield, a local real estate agent with Dielmann Sotheby’s International Realty—who isn’t affiliated with the listing.

Bloomfield did walk through the property recently with a potential buyer. She notes that some of the renovations that were begun—some modest kitchen finishes, for example—didn’t match the upscale style of the home.

She estimates the cost of improvements to bring the place back to a livable condition at around $500,000, but adds that the figure could easily soar to $1 million, depending on how high-end a renovation the buyer opts for.

The work needed includes updating and possibly expanding the kitchen, gutting the bathrooms, adding flooring, and fixing up the pool.

“You would have quite a property when you are done,” Bloomfield says. “The views are unbelievable. You could well make back the money on the property, if you want to go through the hassle of renovation.”

She notes that the listing already has multiple offers, and she believes the home is likely to sell for well over its asking price.

Wildwood currently has 228 homes for sale, with a median list price of $500,000.

Local prices ramp up with larger amounts of land and bigger houses. For example, a nearby 7,500-square-foot home from 2016, with a 3-acre “backyard oasis,” is listed for $1.95 million and in pending sale status.

Nelly's mansion in Wildwood, MO
Nelly’s mansion in Wildwood, MO

realtor.com

Two-story entrance
Two-story entrance

realtor.com

Unfinished space
Unfinished space

realtor.com

Fireplace and columns
Fireplace and columns

realtor.com

Deck with view
Deck with view

realtor.com

Views from floor-to-ceiling windows
Views from floor-to-ceiling windows

realtor.com

Backyard with demolished wall
Backyard with demolished wall

realtor.com

Missouri makeover

The palatial estate offers six bedrooms and 6.5 bathrooms, on nearly 11,000 square feet. Described as an “amazing investment opportunity” in the listing, the mansion, which was built in 1998, is said to feature “some of the best views in Missouri.”

The high-ceiling, large-volume rooms open with a two-story entrance. Details include dramatic vaulted ceilings, columns, and walls of glass to take in the views of the Meramec River valley.

The floor plan is said to offer a great room, separate dining room, breakfast room, media room, game room, library, fireplaces, and multiple balconies. In many places, the unfinished space is waiting for flooring to be installed.

Outside, the 12 acres of land include a basketball court, pool, hot tub, and three-car garage. The grounds and water features, however, will need serious rehab before the next pool party. A partially demolished wall also needs to be addressed in the backyard.

The home is minutes from the Hidden Valley Sky Resort in Eureka, the listing notes, and about 30 miles from St. Louis.

The home last made headlines in 2009, when it was reportedly burglarized, and some video games and electronics were stolen. Nelly wasn’t there at the time.

Nelly’s previous abode in St. Louis, a lakefront, ranch-style home, was featured on a 2002 episode of “MTV Cribs” and showed off its motor court filled with luxury cars. The rapper reportedly sold the pad, which had four bedrooms and a boat dock, in 2010.

[embedded content]

Cozy in Calabasas

As for the “Hot in Herre” rapper, he and his girlfriend, Shantel Jackson, have decamped to the celebrity enclave of Calabasas, CA, where they are leasing a home.

The longtime couple posted a New Year’s shot on Instagram.

The mansion they are living in, in the gated community of Mountain View Estates, offers six bedrooms on 6,158 square feet.

From the formal entry, the expanse includes a living room, dining room, and gourmet kitchen. A family room features a wet bar and fireplace. The master suite features a fireplace, double closets, double bathrooms, and a large balcony.

The outdoor space offers outdoor cooking and dining areas, a pool and spa, sport court, and putting green. Best of all? No home improvement projects are required.

Calabasas rental
Calabasas rental

realtor.com

Nelly, whose given name is Cornell Iral Haynes Jr., debuted his album “Country Grammar” in 2000. The album hit No. 1 on Billboard. The two-time Grammy winner’s chart-topping songs have made him one of the best-selling rap artists.

  • For more photos and details, check out the full listing.
  • Homes for sale in Wildwood, MO
  • Learn more about Wildwood, MO

Source: realtor.com

The home-selling season that never ends

With the conditions surrounding the upcoming spring home buying season looking much like last year’s — itself a dramatic departure from the past— a new normal might be established: a sales season that lasts throughout the year.

Home sales activity in 2020 was far different than any year in recent memory, as the pandemic forced changes to traditional patterns and practices. After the pandemic’s onset and subsequent lockdowns in March, April and May, buyers — many motivated by record low mortgage rates and the ability to work from home — began buying homes throughout the summer and beyond.

“The housing market is unseasonably hot — it’s behaving like it normally does in the spring, with plenty of demand from homebuyers,” Redfin Chief Economist Daryl Fairweather said in a Jan. 15 press release. “Typically, the vast majority of homes for sale in December are homes that have been sitting on the market because they’re overpriced or there’s a problem with the property. This December, with so many Americans moving, scores of desirable homes hit the market — but not enough to satisfy insatiable demand from homebuyers.”

That was borne out in data from ShowingTime, a scheduling platform recently purchased by Zillow, which tracks the average number of appointments received on active property listings.

In December, in-person home visits surged 63.5% on a year-over-year basis, the company reported.

About 17% of Americans who have not purchased a home since March 2020 plan to do so prior to the end of 2022, according to a MyWalletJoy survey of 2,723 adults conducted between Dec. 9 and 11, 2020. Furthermore, 24% of those not planning to do so over that same time frame wish they could.

Given the continued spread of COVID-19 and projections that vaccinations won’t be reaching the broad swath of the population until summer at least, 2021 is likely to mirror 2020 in both activity and process. Rather than one, concentrated spring season, the market will be host to a year-round frenzy of activity.

The market bellwethers

Certain indicators can offer hints as to which way this year’s spring selling season is going to go. The success of vaccine rollouts across the country are one place to look.

Last year, “clearly the normal seasonal pattern didn’t occur. Now whether it occurs in 2021 depends on the vaccine issue,” said Fannie Mae Chief Economist Doug Duncan.

But problems with vaccine distribution in a number of areas make it unlikely that sellers would reach a greater comfort level any sooner than April, at best, “and whether people immediately rush out the door to buy a home remains to be seen,” Duncan said.

The number of in-person visits to listed properties in January should provide an accurate forecast of spring sales activity, said Michael Lane, president of ShowingTime. He’s eager to see how January numbers will compare to the same month last year.

“About the same will tell me that we might be shaping up to [it being] a typical year, but my gut tells me that we’re not done with making up for lost time,” said Lane. “There are lots of people that have not sold their home because they were uncomfortable doing it in 2020.”

On the other hand, 2021 could be another year where the sales pattern is “odd” compared to the past, he said. “It won’t be like the shut down in March and April last year, it will be a slow ramp up, but I bet you that June through December will be higher than two years ago.”

Last year’s pandemic-related shifts should cause sales to boom both in the spring and beyond, said Andy Sachs, a real estate broker with Keller Williams in Newtown, Conn.

“It’s really driven by expectations about how America’s going to go to work,” he said, adding that widespread work-from-home flexibilities and cost-saving efforts to reduce office footprints are long-term trends that will influence the market.

“And if that’s the case, you’re going to continue to push buyers out of the city, out of major metropolitan areas into the suburbs,” and even beyond, where they might be able to get more value for their money, Sachs said.

In addition, the traditional sales curves have seen some flattening over the past decade, taking out the peaks and valleys of seasonality.

“Society in general is a little bit transient,” Sachs said. Parents might prefer that their children be set to enter a new school district in the fall “but at the end of the day I don’t think it is a driving force. So what we could see this season is a very, very robust summer into fall, into winter selling season when people feel comfortable letting people into the house to look.”

Entities like fulfilment services provider Promontory MortgagePath are expecting heightened activity ahead. It’s preparing for increased demand from lenders for its services by being a bit overstaffed, “so we’re carrying a bit of a bench, a bit of a buffer,” said its chief operating officer Debora Aydelotte.

“We hope for typical, but I don’t think that’s what’s going to happen,” said Aydelotte. “What we’ve been anticipating is a very bumpy reentry in 2021, [but] the spring selling market will arrive early in some places, based on pent-up demand.”

Lenders adjust

As each listing becomes increasingly competitive for buyers, lenders may begin to feel some of the pressure. Getting loans through the underwriting process quickly could be the differentiator in getting the consumer’s business.

Homebuyers are doing everything possible to make their offer the “best,” said Tony Weick, president of Bell Bank Mortgage.

“Best” not just on price, but also “the strength of the approval, the lender the client is using, as well as how fast a buyer can close in some situations as well,” Weick said.

“Every scenario will have different triggers, but lenders will need to be able to accommodate all aspects the clients and the markets are demanding during these times,” he added.

For lenders who had to modify their practices during the pandemic, gearing up for this buying season will require further changes.

“We have had to think differently and learn from what’s worked well, what we need to do more of, where we may need to adapt further,” said Cameron Beane, head of pricing and secondary markets at TD Bank, which covers the East Coast markets from Maine to Florida. “We’re going to have to continue to adapt to an economy that is so early in what ultimately needs to happen for us to be able to say we’re out of the pandemic and we’re back to normal, whatever normal may be.

“Certainly no one at TD knows what that is. We’re all learning through the lens of supporting our clients.”

Source: nationalmortgagenews.com

The selling season that never ends

With the conditions surrounding the upcoming spring home buying season looking much like last year’s — itself a dramatic departure from the past— a new normal might be established: a sales season that lasts throughout the year.

Home sales activity in 2020 was far different than any year in recent memory, as the pandemic forced changes to traditional patterns and practices. After the pandemic’s onset and subsequent lockdowns in March, April and May, buyers — many motivated by record low mortgage rates and the ability to work from home — began buying homes throughout the summer and beyond.

“The housing market is unseasonably hot — it’s behaving like it normally does in the spring, with plenty of demand from homebuyers,” Redfin Chief Economist Daryl Fairweather said in a Jan. 15 press release. “Typically, the vast majority of homes for sale in December are homes that have been sitting on the market because they’re overpriced or there’s a problem with the property. This December, with so many Americans moving, scores of desirable homes hit the market — but not enough to satisfy insatiable demand from homebuyers.”

That was borne out in data from ShowingTime, a scheduling platform recently purchased by Zillow, which tracks the average number of appointments received on active property listings.

In December, in-person home visits surged 63.5% on a year-over-year basis, the company reported.

About 17% of Americans who have not purchased a home since March 2020 plan to do so prior to the end of 2022, according to a MyWalletJoy survey of 2,723 adults conducted between Dec. 9 and 11, 2020. Furthermore, 24% of those not planning to do so over that same time frame wish they could.

Given the continued spread of COVID-19 and projections that vaccinations won’t be reaching the broad swath of the population until summer at least, 2021 is likely to mirror 2020 in both activity and process. Rather than one, concentrated spring season, the market will be host to a year-round frenzy of activity.

The market bellwethers

Certain indicators can offer hints as to which way this year’s spring selling season is going to go. The success of vaccine rollouts across the country are one place to look.

Last year, “clearly the normal seasonal pattern didn’t occur. Now whether it occurs in 2021 depends on the vaccine issue,” said Fannie Mae Chief Economist Doug Duncan.

But problems with vaccine distribution in a number of areas make it unlikely that sellers would reach a greater comfort level any sooner than April, at best, “and whether people immediately rush out the door to buy a home remains to be seen,” Duncan said.

The number of in-person visits to listed properties in January should provide an accurate forecast of spring sales activity, said Michael Lane, president of ShowingTime. He’s eager to see how January numbers will compare to the same month last year.

“About the same will tell me that we might be shaping up to [it being] a typical year, but my gut tells me that we’re not done with making up for lost time,” said Lane. “There are lots of people that have not sold their home because they were uncomfortable doing it in 2020.”

On the other hand, 2021 could be another year where the sales pattern is “odd” compared to the past, he said. “It won’t be like the shut down in March and April last year, it will be a slow ramp up, but I bet you that June through December will be higher than two years ago.”

Last year’s pandemic-related shifts should cause sales to boom both in the spring and beyond, said Andy Sachs, a real estate broker with Keller Williams in Newtown, Conn.

“It’s really driven by expectations about how America’s going to go to work,” he said, adding that widespread work-from-home flexibilities and cost-saving efforts to reduce office footprints are long-term trends that will influence the market.

“And if that’s the case, you’re going to continue to push buyers out of the city, out of major metropolitan areas into the suburbs,” and even beyond, where they might be able to get more value for their money, Sachs said.

In addition, the traditional sales curves have seen some flattening over the past decade, taking out the peaks and valleys of seasonality.

“Society in general is a little bit transient,” Sachs said. Parents might prefer that their children be set to enter a new school district in the fall “but at the end of the day I don’t think it is a driving force. So what we could see this season is a very, very robust summer into fall, into winter selling season when people feel comfortable letting people into the house to look.”

Entities like fulfilment services provider Promontory MortgagePath are expecting heightened activity ahead. It’s preparing for increased demand from lenders for its services by being a bit overstaffed, “so we’re carrying a bit of a bench, a bit of a buffer,” said its chief operating officer Debora Aydelotte.

“We hope for typical, but I don’t think that’s what’s going to happen,” said Aydelotte. “What we’ve been anticipating is a very bumpy reentry in 2021, [but] the spring selling market will arrive early in some places, based on pent-up demand.”

Lenders adjust

As each listing becomes increasingly competitive for buyers, lenders may begin to feel some of the pressure. Getting loans through the underwriting process quickly could be the differentiator in getting the consumer’s business.

Homebuyers are doing everything possible to make their offer the “best,” said Tony Weick, president of Bell Bank Mortgage.

“Best” not just on price, but also “the strength of the approval, the lender the client is using, as well as how fast a buyer can close in some situations as well,” Weick said.

“Every scenario will have different triggers, but lenders will need to be able to accommodate all aspects the clients and the markets are demanding during these times,” he added.

For lenders who had to modify their practices during the pandemic, gearing up for this buying season will require further changes.

“We have had to think differently and learn from what’s worked well, what we need to do more of, where we may need to adapt further,” said Cameron Beane, head of pricing and secondary markets at TD Bank, which covers the East Coast markets from Maine to Florida. “We’re going to have to continue to adapt to an economy that is so early in what ultimately needs to happen for us to be able to say we’re out of the pandemic and we’re back to normal, whatever normal may be.

“Certainly no one at TD knows what that is. We’re all learning through the lens of supporting our clients.”

Source: nationalmortgagenews.com