For years, residents in Solano County heard about a mysterious group buying up thousands of acres of farmland and making millionaires out of property owners. The agricultural land had been owned by the same families for decades — some of it for more than a century.
But the company, Flannery Associates, did not say what its plans were for the land, dotted with towering wind turbines and sheep grazing on pastureland. It paid several times market value and made offers on properties that were not for sale, according to officials familiar with the land purchases.
Then, last week, a survey was sent to residents asking them what they thought about “a new city with tens of thousands of new homes, a large solar energy farm, orchards with over a million new trees, and over ten thousand acres of new parks and open space,” according to a screenshot of the survey shared with the Los Angeles Times.
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That’s when it became clear that Flannery Associates had big plans for the rural landscape.
Over a five-year period, the company became the largest landowner in Solano County after purchasing more than 55,000 acres of undeveloped land. The company has paid more than $800 million since 2018, according to court records.
U.S. Rep. John Garamendi, who represents the region, said for years he and other officials were unable to determine who was behind the dizzying land grab. Flannery Associates has purchased land that was restricted to open space and agricultural purposes under a state conservation program.
The company seeks to rezone the land, which would require approval by multiple state and county agencies and wouldn’t be as simple as asking residents to vote on the issue, officials familiar with the process said. But the lack of residential zoning in the area does not seem to be a factor for Flannery Associates.
Since its buying jag began, the company has filed suit in federal court against a group of families the firm purchased property from, seeking $510 million. Flannery Associates claims the families conspired to inflate their property values in a scheme to get more money.
Garamendi (D-Walnut Grove) lambasted the company for how it has handled the purchases and for not working with local residents.
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“Flannery Associates is using secrecy, bully and mobster tactics to force generational farm families to sell,” Garamendi said during an informational committee hearing on Tuesday that addressed the company’s actions.
For years, residents and politicians speculated that Flannery Associates was backed by foreign investors seeking to spy on Travis Air Force Base. Located in Solano County, the base is one of the busiest military facilities in the nation. Most of the land surrounding the base is now owned by Flannery Associates, according to county documents.
Some of the company’s financial backers were revealed in an article last week by the New York Times, and they include a cadre of tech entrepreneurs and venture capitalists.
On the eastern end of Solano County, the city of Rio Vista is now surrounded by Flannery Associates land. Mayor Ronald Kott said that, like many Solano County officials, he had not been approached by anyone from the company to discuss plans for the land.
Although he’s now aware of the company’s goals and some of the financial backers, he’s still unsure how his city of 10,000 residents found itself surrounded by land owned by a group of tech billionaires.
“I have more questions than answers,” Kott said. “Our destiny is going to be determined by whatever they’re going to do.”
Flannery Associates has said little since it was formed as a limited liability company in the state of Delaware in 2018. The company’s actions were first reported by ABC7’s San Francisco Bay Area news station, KGO, which said a mysterious company was purchasing large amounts of land.
Flannery Associates is led by Jan Sramek, a former Goldman Sachs investor who found fame and fortune by the time he was 22, according to a 2010 Business Insider article. Sramek previously worked out of Goldman’s offices in London, but his LinkedIn profile now lists Fairfield, Calif., in Solano County as his primary location.
In a self-help book he co-wrote, Sramek says if given the chance to give his younger self a bit of advice, he would quote Ayn Rand: “The question isn’t who is going to let me; it’s who is going to stop me.”
He did not immediately respond to requests for comment.
For years, Garamendi and U.S. Rep Mike Thompson (D-St. Helena) tried to pierce through the opaque veil that surrounded Flannery Associates. Then, in the last week, representatives of the company attempted to arrange sit-down meetings with the Congress members and the survey was sent out to residents.
The survey said that the issue of a new city might be on next year’s ballot, which was news to Garamendi and Thompson. There have been no efforts made by any groups to get a new measure on the ballot for this project, according to officials. The survey also said the developers would replace the county’s existing aqueduct — calling it “one of the most polluted in California” — generate tax revenue for schools and be entirely funded by private sector money.
Thompson said the company’s actions had raised food and national security concerns. He’s asked the U.S. Air Force, the Treasury Department, the Defense Department and the FBI to investigate the land purchases. Thompson met with representatives from the company, including Sramek, according to KGO.
“And I don’t think they had a clear understanding of the significance of livestock in Solano County,” Thompson said. “And it was my impression that they kind of pooh-poohed the agricultural value of the land.”
Garamendi plans to meet with representatives from Flannery Associates at a later time, according to his office.
Solano County Supervisor Monica Brown is not familiar with Silicon Valley and spent most of her professional career as a schoolteacher. She heard from friends who received the survey and wondered if the company had the best interests of the county’s current residents in mind.
“We’re growing food and helping people. Why would you stop economic growth like that?” she told the Los Angeles Times. “Why would they spend $800 million and not be transparent about it?”
Flannery Associates has purchased more than 140 parcels of land, according to court records and county assessor data. That number is growing every day, officials say.
But in its lawsuit, the company claims that it overpaid and is seeking to claw back some of its money.
Attorneys for Flannery Associates have referenced personal relationships and text messages among neighbors in court documents — neighbors who could be influenced, they argue, by a scheme to drive up asking prices for the land.
The lawsuit has had a chilling effect on some landowners in the Montezuma Hills and Jebson Prairie area of the county. Multiple residents in the area declined to comment about the company for fear of being named in a lawsuit.
Others who spoke on condition of anonymity to avoid retaliation by the company say they feel as though Flannery Associates will target anyone who speaks out about the company’s aggressive tactics to buy land.
Garamendi called the lawsuit a “heavy-handed, despicable intimidation tactic.” He said that the company managed to purchase all the land without any of the current governmental safeguards in place to flag the issue. He said that, in the future, information about large land sales, and who is buying and selling, would be vital for lawmakers and residents.
Thompson introduced a bill that was inspired by the Flannery Associates land purchases that would provide more effective tools for state agencies to investigate large land sales.
Through a spokesperson, Flannery Associates said members of the company “care deeply about the future of Solano County and California and believe their best days are ahead.”
The company said the project aims to bring “good-paying jobs, affordable housing, clean energy, sustainable infrastructure, open space, and a healthy environment” to Solano County.
“We are excited to start working with residents and elected officials, as well as with Travis Air Force Base, on making that happen,” spokesperson Brian Brokaw said.
The company says it resorted to secrecy while purchasing the land to avoid rampant real estate speculation. But it has not disclosed specific details about the scope of its project. Representatives for Flannery Associates are meeting with community leaders to present their vision, according to Brokaw.
Michael Moritz, venture capitalist and longtime San Francisco resident, is one of the financial backers behind the company. In a 2017 email viewed by the New York Times, Moritz described an opportunity to invest in a new California city. He explained how investors could transform farmland into a bustling metropolis.
Sequoia Heritage, the $15-billion wealth management firm Moritz founded in 2010, did not immediately respond to requests for comment.
But in a February New York Times opinion piece, Moritz described some of his frustration with San Francisco and how the city had become “a prize example of how we Democrats have become our own worst enemy.”
He described legislators who deceived voters with tweaks and rule changes to the city’s charter so they could stay in power and drive seismic shifts in the local government.
“The core of the issue, in San Francisco and other cities, is that government is more malleable at the city level than at higher levels of government,” Moritz wrote. “If the U.S. Constitution requires decades and a chisel and hammer to change, San Francisco’s City Charter is like a live Google doc controlled by manipulative copy editors.”
Other financial backers with Flannery Associates include LinkedIn co-founder Reid Hoffman; Andreessen Horowitz venture capital firm investors Marc Andreessen and Chris Dixon; payments company Stripe co-founders Patrick and John Collison; Emerson Collective founder Laurene Powell Jobs; and entrepreneurs turned investors Nat Friedman and Daniel Gross, a Flannery Associates spokesperson confirmed.
Although those names were not repeated at an agricultural committee hearing on Tuesday, lawmakers were thinking of the financial backers’ actions.
Flannery Associates’ land buys threaten the makeup of eastern Solano County, mainly the land under the California Land Conservation Act, which sets aside properties for agricultural purposes and open space. The penalty for not obeying that policy does not seem to dissuade Flannery Associates, former West Sacramento Mayor Christopher Cabaldon said during the committee hearing.
The act, also known as the Williamson Act, can include a fee for the incompatible structures built on the land. For billionaire property owners, that could just be seen as the price of doing business.
“In some sense,” he said, the conservation program has “been like a flag that says, ‘Buy here.’”
The Flannery Associates project illustrates just how weak current tools are for dealing with a project of this size. Secrecy further hampers state regulators unaware of a buyer’s intent for the land, Cabaldon said.
Brokaw, the Flannery Associates spokesperson, said the company wouldn’t comment on specific issues brought up during the committee hearing but was meeting with county and state leaders to address their concerns.
Officials and landowners worry that much of the infrastructure needed to build a new city is just not present in eastern Solano County. And an influx of development would almost certainly drive out any farmers from the region.
But another scenario that could present itself is Flannery Associates moving ahead with its project only to have it fall apart years later.
“Even if the project is rejected locally … you can’t reset the clock,” Cabaldon said. “You cannot turn it back and say, ‘OK, no harm, no foul. Let’s just return to the way that this community was two years ago.’ Because the owners will be gone, the family farmers will have left.”
Times staff writers Jessica Garrison and Ryan Fonseca contributed to this report.
I love shopping at thrift stores. You can find the coolest things for little money, and I’m always one trying to save. So what should you buy?
For the First-time Thrifter: Books, Pottery, and Hard Furniture
For the Seasoned Secondhand Shopper: Upholstered Furniture and Light Fixtures
What You Shouldn’t Buy Secondhand: experts’ lists include mattresses, stuffed animals, pillows and “anything soft that looks like it could have collected decades of dust that has sunken into it.” Buy linens, blankets, and the like only if you’re able to wash them.
Expert Thrifters’ Favorite Finds and Tips
Reuse over buying new
Mix thrifted pieces alongside modern items for a fresh take on vintage-style.
Look for items with good bones and personality.
Consider items that aren’t in the art or home decor section as art.
Inside: Looking to celebrate Christmas on a budget? This guide has you covered with creative and affordable ways to do just that.
Are you stressed out about how to afford a fabulous Christmas on your budget? Worry not.
This festive season isn’t about how much cash you fork out, it’s about creating lasting memories and spreading joy.
Why let financial woes dampen the joyous yuletide spirit when you can celebrate a charming Christmas on a budget?
Remember, it’s your money, your decisions, and your rules – no guilt trips or social pressures should force you into spending Christmas in debt.
Today you will learn:
Determine your Christmas budget: Figure out what’s a comfortable amount for you to spend and stick to it religiously.
Be creative with gift giving: Homemade presents or heartfelt letters can be more valuable than pricey items.
Find simple ways to save money: Use these money saving tips to enjoy a festive holiday season.
This holiday season, celebrate responsibly, within your means, for a Christmas that’s merry, bright, and totally guilt-free!
Why Celebrate Christmas on a Budget?
Embracing a budget-friendly Christmas can prove to be not only a smart choice but one filled with warmth, delight, and genuine joy.
Enjoy valuable family bonding time with exciting games and shared activities. Volunteer work, a day of holiday baking, or a simple drive-through Christmas lights sightseeing trip can leave a lasting impression. Look through this Christmas bucket list.
Opt for economical, yet thoughtful gifts or stick to fun gift exchange rules, such as the “four gift rule” for your kids. Remember, it’s the sentiment behind the gift that matters the most.
In essence, an economical holiday season needn’t be a dull affair, rather it’s an opportunity to make it more heartfelt and unforgettable.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
What to buy for Christmas on a tight budget?
Yes, friend, you can buy meaningful Christmas gifts while sticking to a budget.
In fact, the thought behind a gift is often what makes it special, not the price tag.
A few ideas include homemade gifts, gift cards, subscriptions, and second-hand items. With a little creativity, you can find the perfect present for everyone on your list without spending a fortune.
Below you will find plenty of great gift guides for Christmas that won’t break the bank.
Benefits of a Budget Christmas
1. Allows you to plan ahead and stay on track 2. Prevents overspending 3. Buy gifts that are within your budget 4. Focus on quality over quantity 5. Ensures that everyone gets a gift 6. Helps you avoid debt during the holidays 7. Prevents you from feeling stressed out about money during the holidays 8. Be creative and come up with unique gifts 9. Save for next year’s holiday budget 10. Stay connected to the spirit of the holidays
Savings with Christmas on a Budget
From homemade Christmas decorations to unique gift ideas, it’s possible to create magical moments that’ll last a lifetime without a hefty price tag.
Embrace the true spirit of Christmas – love, family, and togetherness, rather than commercialism, and read on to discover how.
Learn the simple ways to celebrate the festive season without breaking the bank with our creative and budget-friendly Christmas ideas.
1. Think about a No Gift Christmas
Having a No Gift Christmas is a creative and budget-saving alternative to traditional holiday festivities, especially suitable if funds are tight. Why not consider it?
Here are some benefits:
You can alleviate the holiday stress often associated with spending on gifts.
It fosters the idea of Christmas as a season of togetherness, not just gift-giving.
It offers the potential for unique and memorable experiences, like volunteering or creating fun traditions with your loved ones.
Remember, having a memorable Christmas doesn’t have to cost much, or anything at all Learn more about a no gift Christmas.
2. Make Your Own Gifts
DIY Christmas gifts are your perfect solution. They not only save pennies but are laced with your love and creativity.
Start by exploring plenty of creative gift ideas available for free online. Need help? Look for “homemade gifts for Christmas” and you’ll be surprised.
Compile a list of possible gifts from homemade candles to personalized coupon books, keeping the recipient’s likes in mind.
Remember, your efforts will reflect in your gift. So, unleash your creativity and let the magic begin.
3. Borrow Instead of Buy
Borrowing instead of buying is a clever way to have a festive holiday while keeping things budget-friendly. This concept is simple: swap decorations, games, or even gifts with friends, neighbors, or family
Discuss your idea with your circle and organize swapping parties to exchange items.
The key is to creatively engage and make it a fun, budget-conscious activity. After all, Christmas is about sharing and caring!
Remember, return borrowed items in their original condition to maintain trust.
4. Attend Free Events
The Christmas season doesn’t have to be a strain on your wallet. Attending free community events can provide fun and festive celebrations:
To find these events, check your local newspaper or community websites. Be sure to:
Take advantage of free refreshments, but also bring your own to share.
Consider hosting a potluck dinner before or after community events.
Attending free events supports your local community.
Remember, Christmas is about togetherness, not extravagant spending.
5. Make Your Own Decorations
To create a festive atmosphere this season, you could repurpose items around your house or make your own decorations.
Choose a color theme and gather items in those shades, then place them together on a mantel or coffee table to create a coordinated layout.
For a natural touch, clip pine needles, branches, or herbs from your garden, and enhance them with glitter.
Additional budget-friendly options include taking advantage of sales and discounts at thrift stores or crafting handmade decorations such as ribbons from fabric strips or Christmas cookie ornaments.
6. Keep Track of Your Christmas Expenses
Just like throughout the year, budgeting is critical to your financial success.
Nothing changes with Christmas, it is crucial to track and budget your holiday expenses. Jot down every potential cost – from the Christmas tree, and food, to holiday décor.
Be thoughtful about what you really need and opt for items you can use for years.
This is one of the cash envelope categories I recommend saving for. To effectively manage your expenses, assign specific dollar amounts to each item on the list, ensuring you stay within your budget.
Enjoy guilt-free spending and effortless saving with a friendly, flexible method for managing your finances.
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7. Share the Spirit
Embracing frugality during the holiday season can not only help you save money, but can also create memorable experiences and meaningful connections.
Small gestures, such as sending heartwarming physical letters to loved ones instead of emails, can still convey thoughtfulness and spur the holiday spirit.
By centering your holidays around family activities and endeavors, like homemade ornaments or a scavenger hunt with small gifts, the focus shifts from materialism to fellowship and unity.
Find more frugal Christmas ideas.
8. Check Out Bargain Stores
Bargain stores provide the perfect solution for savvy holiday shoppers looking to save money without compromising on quality or variety. Not only can you find unique, quirky gifts, but you can also keep a lid on your spending while doing so.
Stores like consignment shops or websites such as Craigslist often have high-quality used toys that are nearly new if you’re willing to look carefully.
Another option is to look at discount retailers like TJMaxx as they often host sales during the holiday season, making it even easier for you to save money while hunting for the perfect gifts.
9. Save Money Throughout the Year
Automating your savings for the Christmas season can be a practical and efficient strategy. The 100 envelope challenge is perfect for this!
By setting aside just $50 each month, you could accumulate up to $600 by December, providing a decent budget for your holiday expenses. This method can ease the financial stress during the holiday season, letting you enjoy the festivities without worrying about overspending.
Consider setting up automatic transfers to a high-interest savings account. This ensures your Christmas funds grow without your intervention.
Lastly, try a no-spend month where you only cover essential bills, giving your savings a significant boost.
10. Start a Side Hustle for More Money to Spend
Engaging in side hustles throughout the year can help you significantly cover your holiday expenses.
By delivering food, completing microtasks, selling gently used items, or shoveling snow, you create extra earnings that can go directly into your Christmas fund.
For instance, extra income from a seasonal retail job could help finance gift-purchasing without straining your usual budget.
This strategy not only prevents potential post-holiday debt but also allows you to enjoy the season without financial stress.
In fact, more people are interested in how to make money online for beginners.
This is the perfect side hustle if you don’t have much time, experience, or money.
Many earn over $10,000 in a year selling printables on Etsy. Learn how to get started by watching this free workshop.
If you’ve ever wanted to make a full-time income while working from home, you’re in the right place!
This intensive training combines thousands of hours of research, years of experience in growing a virtual assistant business, and the power of a coach who has helped thousands of students launch and grow their own business from scratch.
11. Shop Online Instead of Going to the Mall
Shopping online for your Christmas gifts can seriously ease your holiday stress, and potentially save you money.
Let’s explore why skipping the mall and clicking your way to a merry Christmas might be your best bet this year:
No dealing with holiday crowds or cranky shoppers.
Enjoy sales and deals without leaving your home.
Track prices over time to grab the best deals.
Use Rakuten to save even more money on purchases.
For smart online shopping, prepare a list of gifts before diving in. Take advantage of the “wish list” option on platforms to curate items of choice and make sure you first glance over deal sites before making purchases.
12. Have a Christmas Potluck
Host a festive potluck! Invite friends and family, asking each to bring their favorite dish.
Here are some tips for a successful event:
Get organized and ask guests to bring specific types of food. This prevents duplicate dishes and ensures a balanced meal.
Introduce a fun element. Try a cookie swap or a silly game like “Guess the Cookie.”
Keep decor simple. A large vase filled with greenery and baubles can effectively replace a pricey Christmas tree.
Remember simplicity is key in food and decor. Costly ingredients and complicated recipes aren’t prerequisites for a memorable Christmas.
Remember, the holiday is about togetherness, not extravagance!
13. Make Your Own Cookies
There’s a unique pleasure derived from making your own cookies during the holiday season instead of buying them. More so, the cookies you’ve invested your time and creativity into can double as thoughtful, homemade gifts, adding another level of sentiment.
Apart from being a cost-effective option, it brings an opportunity to bond with friends and family during cookie exchange or decorating gatherings.
Making your personally crafted cookies also gives you control over ingredients catering to specific dietary needs or preference
Indeed, making your own cookies adds value that surpasses the mere cost savings, it infuses the holiday season with warmth, joy, and a sense of shared experience.
14. Cross Off Activities from your Christmas Bucket List
Having a joyful Christmas doesn’t necessarily mean overspending. In fact, integrating cost-effective activities into your holiday routine can make the season more meaningful and fun.
This Christmas Bucket list post offers an extensive and diverse list of creative ideas for budget-friendly Christmas shopping, gifting, and celebrating.
Additionally, downloading the free printables and a Christmas Budget Template will make the process even more manageable and fun.
15. Have a No-Gift Party
A no-gift Christmas party is an affordable and fun holiday celebration where attendees do not exchange gifts. It’s a great option for those looking to save money and still enjoy the festive season.
Here are steps to make it happen:
Step 1: Decide on the party type, either a simple gathering or a potluck dinner.
Step 2: Inform guests about the no-gift policy in advance.
Step 3: Organize exciting, cost-effective activities such as a game night.
Step 4: Engage guests with games for a joyful event.
Expert Tip: Conversation and laughter are your best tools.
16. Make a Christmas Memory Book
Creating a Christmas memory book is an affordable and engaging way to celebrate the holiday season, especially when you’re on a tight budget.
To start, you can utilize items already at your disposal in your house such as old photos, greeting cards, and crafts.
Spend some time penning down heartfelt messages and your favorite holiday memories associated with each picture or craft. Embellish the pages with affordable decorating materials like glitter, stickers, or color pens.
Not only does this create a personalized touch, but it also serves as a nostalgic keepsake that can be cherished for years to come.
Tip: Digitize your memory book by creating an electronic version. This can also help preserve the original items.
17. Spend Time With Loved Ones
Celebrating Christmas on a budget doesn’t mean skipping on the fun.
It’s about cherishing time spent with loved ones, harnessing creativity, and making priceless memories that last a lifetime.
Here are some cost-effective activities you can embrace this festive season:
Share stories of memorable Christmas experiences.
Organize virtual celebrations with extended family and friends.
Create your own family-themed board game.
Bake Christmas cookies or make a popcorn Christmas tree.
Stream a Christmas church service.
If snow is around, engage in snow play.
Dance to classic Christmas music.
Put together an annual family calendar.
Participate in one of these Christmas Challenges!
Remember, it’s not about what’s under the tree that matters, but rather, who’s around it.
18. Stash Christmas presents all year
Do what I do! Begin addressing the issue of holiday budgeting by stashing Christmas presents all year round.
This is a smart and stress-reducing move!
Find deals throughout the year rather than spending lavishly in December. Hang on to items like discounted gifts in your secret gift closet!
As you build an inventory of diverse items, you will be ready for birthdays or sudden party invites – you’re always prepared!
Just be careful to stop shopping when your list is fulfilled to avoid overspending.
19. Write a Christmas Gift List
Creating a Christmas gift list can be an effective way to manage your holiday spending. This helps you understand the overall picture of your holiday expenditure.
Start by writing down the names of every person for whom you consider buying a gift.
Then, determine how much you’re willing and able to spend on each individual. This helps you understand the overall picture of your holiday expenditure.
Take time to brainstorm potential gift ideas within your decided budget for each person. This process can be even easier and more informative if you’re able to reference a gift list from previous years.
Ultimately, the goal is to ensure that your total intended spending is reasonable and manageable for your personal financial situation.
Remember, you may not need to buy gifts for everyone on your list – some individuals might appreciate homemade or free gifts just as much.
20. Choose Great holiday things to do for less
Set aside the societal notion of linking the joy of holidays to copious spending, and welcome small, inexpensive, yet heartfelt gestures.
Adopting a mindset that finds value in low-cost or even free activities, especially during the holiday season, can not only alleviate financial pressure but also create cherished memories.
Instead of focusing on extravagance and materialistic desires, turning attention to experiences and emotional bonding can revolutionize the celebration!
You can always find things to do on Christmas Day.
21. Think Outside the Box With Gifts
Finding affordable gifts doesn’t mean you have to sacrifice quality or thoughtfulness.
By utilizing a gift guide such as the 4 gift rule – something they want, need, to wear, or read – you can ensure a well-rounded and meaningful set of gifts for each child.
Alternately, consulting lists of inexpensive yet creative suggestions like those curated by Money Bliss can help you find unique presents that won’t break the bank. These affordable finds range from books, gadgets, to personal care items, and home accessories.
Regardless of budget, the key to successful gift-giving lies in understanding the recipient’s needs and interests.
22. Consider Re-Gifting
Re-gifting is a practical, budget-friendly, and environmentally-friendly way to celebrate Christmas. It allows unused or unwanted items another chance to be appreciated and might save you some cash too.
Here are some regifting tips:
Ensure the gift is in good condition, unwanted but quality, and not linked back to its original giver.
Consider the preferences of the new recipient, ensuring the gift suits them.
Completely re-wrap the gift to give it a fresh appearance.
Some may debate the etiquette of re-gifting but remember, it’s more about the thought and less about where the gift originated.
Making smart choices can ensure a successful and fun re-gifting experience this festive season.
23. Use Gift Cards or Cash App to Stay on Budget
Purchase a prepaid gift card from your favorite store to ensure you’re limiting your spending to a specific amount and preventing the temptation of overspending.
If you’re planning to shop from a range of places, opt for a Mastercard of Visa prepaid card. While there may be an activation fee, it’s ultimately going to be less than what you’d potentially overspend.
Another great option is using the Cash App card and learn where you can load your Cash App card.
Also, you can use budget tracker apps like YNAB or Simplifi. These can help you meticulously keep track of your spending and stay within your budget.
Remember, the key is to stick to a budget and avoid falling prey to impulsive purchases. Using gift cards or these budgeting apps makes it easier to limit and monitor your expenses.
24. Use Money Gift Ideas Wisely
Money gift ideas can be an excellent alternative to traditional presents, especially when budgeting is a critical aspect.
Too many times, money gift ideas are overlooked as impersonal, but a money gift box or money cake will definitely surprise the recipient.
This will guarantee you will stay within your target budget by using money gift ideas.
For larger families, a gift exchange with a set price limit can keep costs manageable.
25. Donate to Charity Or Volunteer
Volunteering at a charity is a meaningful way to give back during the holiday season that doesn’t put a strain on your budget.
Instead of buying more items a person may not need, you’re investing time, money, and energy in causes they care about. Although this doesn’t require a financial commitment, it’s a generous gift full of sentiments.
Furthermore, donating money to a charity in someone’s name is a thoughtful and effective way to honor someone who already has everything they need. It allows the recipient to feel the joy of giving, yet remains a budget-friendly option for the giver.
If you’re keen on frugal yet meaningful ways to celebrate Christmas, how about considering charitable donations? It’s a splendid alternative to traditional gift-giving – not hard on your wallet, plus it makes a difference!
Most people know it is hard enough to buy gifts for the woman you who has everything or kids who have everything.
How to Make a Christmas Budget
A lot of joy and goodwill is associated with the holiday season; however, it also brings with it the challenge of managing finances meticulously to avoid slipping deep into credit card debt.
One of the effective ways to keep your finances under control during this festive time is by creating an efficient Christmas budget.
In the following sections, we will delve in detail into the simple process of creating a feasible Christmas budget that you can adhere to.
Step 1: Decide What You Want to Spend on Christmas
Determining how much to spend at Christmas depends on your individual budget and financial situation.
On a general basis, most people will overspend at Christmas in order they don’t look broke or not generous.
However, that thought process is backward if you are trying to reach your financial goals. You need to decide on how much you want to spend at Christmas time.
That is why these consumable gifts tend to be popular.
Expert Tip: Avoid surpassing your Christmas budget to prevent feeling the pinch of holiday debt later on. Stick to your allocations and plan things out in advance.
Step 2: Make a List of Christmas Gifts
Creating a list is essential for budget-friendly and stress-free Christmas shopping.
This prevents you from forgetting someone important by intuitively documenting all the people you intend to get gifts for. Also, allows for the clear allocation of your total Christmas budget, preventing overspending on some individuals and under-spending on others.
If you aim to economize, consider the 4-gift rule: something they want, something they need, something to wear, and something to read. This method provides thoughtful gifts for children while maintaining a manageable budget.
More importantly, a well-planned list significantly reduces the time spent shopping and aids in buying gifts early before the holiday rush begins.
Expert Tip: Don’t forget to consider items like stocking stuffers, last-minute gifts, or teacher’s gifts, and the cost of extra food for holiday gatherings.
Step 3: Prioritize Your Spending
Prioritizing where to spend money relative to your financial goals is crucial to achieving long-term financial stability and health. It ensures that your money is allocated effectively, giving priority to necessities and matters that directly support your objectives.
This practice can also prevent unnecessary expenditures and helps in averting serious overspending, especially during high-spending periods like the Christmas season.
Thus, you will need to prioritize your Christmas budget before the festive season. It helps prevent overspending and keeps you debt-free.
Step 4: Limit Your Christmas Spending
First, it is important to abandon the notion of a “perfect Christmas” and focus on enjoying the holiday within your budget.
You can even educate your family members about the concept of holiday budgeting and involve them in your planning process.
Consider proposing less expensive alternatives to traditional gift-giving within your extended family such as handmade or recycled gifts, or conducting a white elephant exchange with budget-friendly novelty items.
Don’t overlook smaller gifting costs that can accumulate, like Christmas stockings – instead fill them with practical, affordable items that your family needs.
Save money on wrapping supplies by using items readily available at home like newspaper or butcher paper and involve the kids in a fun, cost-saving activity by having them create homemade gift tags.
Remember, sticking to your budget doesn’t mean letting go of the Christmas spirit. It’s about celebrating responsibly and starting the New Year without financial stress.
Step 5: Ignore Sales and Keep it Simple
Sales, sales, sales – the deal is too good to pass up!
Here are key ways to overcome this common dilemma.
Resist impulsive purchases compelled by sales, and stick strictly to your shopping list.
Pause before purchasing an item not on your list, consider the necessity.
Keep emotions in check, they run our shopping decisions.
Conquer emotional spending, stay true to your budget.
Discourage additional spending once your list is fulfilled and the budget exhausted.
Remember that it’s better to focus on affordable presents rather than seeking the perfect, but expensive, gift.
Step 6: Shop for Christmas Gifts Early
Start early. Begin watching for sales on items from your Christmas gift list way before the season’s rush.
Begin monitoring for sales early, especially during holidays that precede Christmas, to stretch your budget further.
Make use of Black Friday and Cyber Monday. They provide excellent opportunities to snag deals on your gifts.
Expert Tip: Remember to stick to your list. If it isn’t on your list, pass it up. It’s challenging but keeps your budget in check.
Step 7: Reuse and Recycle Holiday Decorations
Start by taking stock of items in your house. Don’t limit yourself to traditional decorations—choose a color theme and scan your home for items that fit and can be repurposed.
Use the resources outdoors. Pine branches, pine cones, mistletoe, and holly can be fashioned into decorations from nature’s catalog.
Even consider trading decorations with friends or family. This can bring a new look to your home without the need for new purchases.
Get creative with items from dollar stores that can be combined to appear high-end and save costs.
How to buy gifts for Christmas on a budget?
Maintaining a budget doesn’t mean you can’t enjoy giving gifts this Christmas.
Use these gift guides to help you out:
Remember, the joy is in the giving, not in the cost of the gift.
Time to Create Your Holiday Budget and Make it Memorable
Regardless of your financial situation and the extent of your holiday plans, this guide will help you maintain financial stability while fully embracing the Christmas spirit.
By setting aside a prescribed sum for your holiday expenses, you’re able to enjoy the season without the stress of unexpected expenditures or financial shocks after the holiday haze has cleared.
Celebrating Christmas on a budget doesn’t mean skipping the fun or the warmth.
With just a dash of creativity and thoughtful planning, you can make the yuletide season enjoyable and meaningful without breaking the bank.
Use the festive tips provided and start planning your budget-friendly Christmas now. Remember, the true essence of Christmas isn’t in extravagant spending—it’s about love, joy, and spending quality time with those who really matter to you.
Don’t forget to access a free printable worksheet for your customized holiday budget.
Know someone else that needs this, too? Then, please share!!
An oasis of sandy beaches, nature preserves and restaurants with stunning views, Key Biscayne offers all the allure of South Florida on a tiny sliver of land.
Just minutes from downtown Miami, Key Biscayne feels a world away from the city’s bustle and South Beach’s party vibe. The tiny island is home to 2 state parks, as well as quiet, palm-tree-fringed beaches, bike paths, and high-end accommodations (including the sprawling Ritz-Carlton on Key Biscayne).
The homes that line Key Biscayne’s streets are just as impressive as the natural beauty that surrounds them.
And one in particular — which hit the market just a couple of weeks back — embodies the ‘Island Paradise’ vibe of Key Biscayne to perfection.
The $20 million Mariner Dr. property was custom-built built in 2013 by world renowned architect Cesar Molina of CMA Design Studio, known for his signature “tropical modern’ designs.
Molina combines the clean lines and muted color palette of contemporary design with the warm, natural materials of exotic woods and stones typically found in island environments, and incorporates wellness and resort-like amenities into his projects.
The Key Biscayne house on Mariner Dr. is no exception, featuring beautiful natural stone and wood throughout, and incorporating the perfect amenities to make residents feel like they’re living in their own private resort.
The waterfront home sits on a canal with ocean access, and offers resort-style living at its finest — including 9 covered balconies, 4 covered terraces, and infinity lap pool, and even a private yacht dock behind the house.
With a generous 5,760 square feet of elegant living space, including a two-story living room, 5 bedrooms, 6 full baths and 1 half bath, the Key Biscayne house was fully refreshed and rejuvenated in 2022 with many upgrades and luxury finishes.
It’s now being offered for sale with a $20 million price tag. Carmen D’Ambrosio with Coldwell Banker Realty, Key Biscayne holds the listing.
And we wouldn’t be at all surprised if a celebrity moves in. The area is quite popular among A-listers, who’ve been flocking to South Florida in recent years.
Rapper Rick Ross recently splurged $37 million for a waterfront home in the nearby Star Island, and rumor has it that soccer superstar Lionel Messi is also looking at Key Biscayne as a place to settle down following his move to Miami.
Messi is no stranger to Key Biscayne. Just a couple of years back, he rented a 5-bedroom waterfront mansion here, the former Matheson estate, known as the Mashta House — the most expensive house in Key Biscayne, which last sold for $47 million. Let’s hope the $20 million Mariner Dr. house is on his radar!
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DSCR, Non-Del, CRM, Pricing Engine, Real Estate Agent Products; STRATMOR Customer Service Workshop; NAR President Resigns
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DSCR, Non-Del, CRM, Pricing Engine, Real Estate Agent Products; STRATMOR Customer Service Workshop; NAR President Resigns
By: Rob Chrisman
3 Hours, 5 Min ago
“What did the happy real estate agent put on her sign? I have lots to be thankful for.” (Feel free to use that gem at your next presentation at Sotheby’s.) In response to yesterday’s opening paragraph comments about housing supply, from Maryland Ken Sonner sent an article about how New Zealand managed to shift its zoning to help alleviate the supply issues and lower rents. People like lists for some reason, and here is the “The 15 most in-demand ZIP codes for U.S. homebuyers, and #1 is in Ohio.” But heading back to inventory, affordable housing, and such, the topic is certainly percolating up to Capitol Hill. A bipartisan duo in the U.S. Senate introduced a bill that would address a shortage of affordable housing in rural communities by easing the process for non-profits to acquire properties with USDA rural housing loans. It would also decouple the related rental assistance so that the assistance doesn’t end when the mortgages mature. (Today’s podcast can be found here and this week’s is sponsored by Black Knight. Black Knight is an award-winning software, data and analytics company that drives innovation in the mortgage and real-estate industries, and the capital and secondary markets. Listen to an interview with Servbank’s Anthony Forsberg on default and loss mitigation.)
Lender and Broker Software and Services
Don’t discount the value of prioritizing your customers. Many servicers are adding customer-focused technology to give homeowners self-service options and more. Just take it from AimLoan, an internet-direct mortgage lender that recently implemented MSP®, Black Knight’s loan servicing system, along with several other customer-focused solutions. After recently moving its servicing portfolio in-house, AimLoan needed proven technology to enhance the customer experience of today and prepare for growth of tomorrow. Ready to join AimLoan by enhancing the way you serve your own customers? Learn more about MSP today.
Get valuable face time with real estate agents: host your own For Sale to Sold workshop. MGIC’s ready-made workshop kit makes it easy for loan officers to guide agents to a deeper understanding of the mortgage process. The benefits of hosting your own workshop? You’ll position yourself as an expert, build stronger relationships and earn more referrals. Request your For Sale to Sold workshop materials to get started.
Loan servicers are invited to attend a free webinar on the MERS® Annual Report and third-party review process next Thursday, September 7th, at 3pm ET. Hear from the experts at Falcon Capital Advisors, an experienced and trusted third-party review firm, about the Annual Report process and how your organization can ensure it remains compliant with MERS® System requirements. Click here to register.
You don’t have to accept lower profitability when loan volume is down. Instead, find efficiencies in your mortgage process that add up to cost savings and bolster your bottom line. Loan officers using Maxwell Point of Sale achieve more with less work, closing 20% more loans and moving loans to clear to close 35% faster. Maxwell POS syncs with your LOS bi-directionally, keeping real-time data in one place for easy management and seamless updates and preapprovals. Managers have visibility into the team’s entire pipeline, allowing them to identify opportunities for quick adjustments and better results. If you’re ready to maximize your mortgage operations and take advantage of every basis point, schedule a call with the Maxwell team.
In today’s low-volume, purchase-focused market, every mortgage lender’s goal is to optimize their profits and overall efficiency. The catalyst? The right product and pricing engine. In a recent article with HousingWire, industry expert Parvesh Sahi of Polly emphasizes three critical components to thrive in this ultra-competitive market environment: 1.) Speed to market, 2.) Margin management, and 3.) Loan officer experience and education. According to Sahi, creating the connective tissue between these three primary components is an enormous opportunity. Are you taking it? Learn more, here: Why the right PPE matters.
“It’s no surprise that many mortgage lenders use more than one channel to maximize loan origination opportunities. Maybe you’re a traditional retail shop with a growing consumer direct team, or you decide to shift resources to wholesale while your retail group rides out a rough patch. What is surprising is how many lenders use two or even three different CRM systems to meet their multi-channel needs, each one increasing the inefficiency and cost of their sales and marketing. Download our free guide, “How to Find the Ideal CRM” and learn how to streamline your tech stack and improve sales and marketing performance across all your channels.”
Broker and Correspondent Products
“Brokers: Are you attending NAMB National? Meet NexBank’s team at booth #12 and learn why we are a trusted investor and warehouse bank partner to brokers and correspondents nationwide. NexBank is continuously ranked as a top lender by Inside Mortgage Finance, and we continue to grow in the wholesale and correspondent space. Our wholesale and non-delegated channels offer a suite of Portfolio, Conventional, FHA and VA products. Our competitive portfolio products include Full Doc and Reduced Doc (Non-QM), available for loan amounts from $200,000 to $2 million, with ARM and Fixed Rate options, along with Interest Only. Ask about our unique 6-month ARM! Plus, portfolio loans have no LLPAs for FICO or second homes and allow cash-out to 80 on primary with no dollar cap on cash-out amount, where applicable by law. Contact us. Restrictions apply. Subject to change. For mortgage professionals. Not intended for general public. Member FDIC. Equal Housing Lender. NMLS 672886.”
Long-term Rental or Vacation Rental? Visio Lending is the nation’s leader in Non-QM Investor DSCR loans for buy and hold SFR rentals with nearly a decade of experience and over $2.5 billion in originations. No-DTI, 30-year terms, rate buy downs, free 45-day rate locks; I/O and Sub-1 DSCR options available. Through our top-notch Broker Program, brokers are able to earn up to 2 points YSP, and 5 points total. Visio Brokers can count on a designated Account Executive and in-house processing.
STRATMOR Customer Experience Workshop
According to data from Gartner, two in three companies say customer experience is the primary area where they will compete for business. Lenders, how is your business utilizing customer feedback to drive revenue growth in today’s challenging market? Need help? Join STRATMOR Group’s customer experience experts as well as peer lenders for STRATMOR’s Customer Experience Workshop on September 25, 26 and 27. This highly interactive, virtual workshop is designed to give lenders specific, actionable ideas: you’ll learn how to optimize your loan processes to maximize repeat and referral business and achieve your growth goals in challenging market conditions. Register today!
Capital Markets
With a light day of data to open the week, investors continued to mull over Fed Chair Powell’s Jackson Hole Speech, which had a rather hawkish tone as he vowed to hike rates further, if necessary. Investors in Fed Funds futures got the message, ramping up bets that the Federal Open Market Committee will hike rates by an additional 25 basis points at the November meeting. The U.S. Treasury sold $45 billion in 2-year notes yesterday morning and $46 billion in 5-year notes in the afternoon, with both offerings meeting good demand ahead of today’s $36 billion 7-year note auction. We have a heavy week of data coming up with home prices and consumer confidence today, GDP tomorrow, the PCE Price Index on Thursday, and the jobs report on Friday.
Keeping things in perspective, two weeks ago, markets were buoyed by an upwards surprise in retail sales. However, last week’s durable goods report showed orders fell 5.2 percent in a sign that business investment is slowing. Despite potentially lower jobs gains, initial unemployment claims have remained fairly consistent throughout the year and were at a three-week low last week. Given the record over-supply of available jobs over the last year, the softening in the labor market may presently be manifesting itself in less job openings rather than increasing layoffs. There were about 14 percent fewer job openings as of August 18 than on January 1. Existing home sales fell for the second consecutive month in July as higher mortgage rates reduced demand as well as supply. Lower supply has put upwards price pressure on the limited existing homes availability. This allowed builders, armed with price and rate incentives, to insulate themselves from the housing slowdown. New home sales were up 4.4 percent in July. While recent inflation data is encouraging, hawkish talk from Fed officials has the markets split on whether another rate hike will be necessary before the end of the year.
Today’s calendar gets under way later this morning with Redbook same store sales and will be followed by home prices from S&P /Case-Shiller and the FHFA for June, July job openings from JOLTS, consumer confidence for August, Dallas Fed Texas services for August, the aforementioned Treasury auction of 7-year notes, and remarks from Fed Vice Chair of Supervision Barr. We begin Tuesday with Agency MBS prices roughly unchanged from Monday and last Friday and the 10-year yielding 4.20 after closing yesterday at 4.21 percent. The risk-free 2-year T-Bill is at, or above, 5.0 percent for the sixth straight day.
Employment, transitions, and NAR President resignation
“Citizens Wholesale Lending: If you’re an Account Executive looking for a solid Wholesale Lender, look no further than Citizens! Citizens Wholesale has been supporting the Broker and Non-Del community for the past 28 years with a commitment to delivering a best-in-class experience. As the mortgage landscape continues to evolve, Citizens remains a strong pillar for the Wholesale industry. We are currently hiring Account Executives in GA, NC, and SC to join one of the strongest bank-owned wholesale lenders in the country. If you’re interested in an opportunity to thrive and be a part of a winning team, learn more at our jobs page today!”
Allen Friedman, an industry veteran and long-time friend of this Commentary, has returned to his home of over 10 years, iServe Residential Lending. Allen joins iServe as Executive Vice President and will help to further develop and expand the company’s strategic growth and development initiatives. Co-CEO Ken Michael states “We are thrilled to have Allen back in this leadership role. He helped to create our culture and shares in our desire to ensure that iServe is a company that both MLOs and Branch Managers can join to build something extraordinary. With a can-do culture, our goal is to empower each MLO and Branch Manager with a voice in the company alongside the decision makers. Allen strengthens that platform.” iServe was established in 2007 as a multi-state residential mortgage banker and invites NMLS licensed Originators to apply. For a confidential conversation about joining iServe, contact Allen Friedman through his email or at 415-298-2500.
It’s hurricane season, and sure enough we have Hurricane Idalia forming and expected to hit Florida on Wednesday. The National Association of Realtors has its own storm: the (now ex) President, Utah’s Kenny Parcell, resigned after the New York Times reported on allegations of sexual harassment and a culture of fear at NAR.
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Every time that the Bitcoin price surges, the subsequent flurry of press attention seems to bring in more and more people interested in getting their piece of the Bitcoin pie. While there are multiple ways to make money off Bitcoin, such as investing and mining, trading Bitcoin can be another way to participate in the Bitcoin ecosystem.
Trading is a bit more difficult than just buying some Bitcoin and holding it; however, Bitcoin trading can potentially be very profitable, even for beginner traders that are just starting to learn. Types of Trading There are different types of trading strategies people use when trading Bitcoin.
Day trading is more frequent and involves taking advantage of short-term price movements (throughout the day).
Scalping is even more short-term than normal day trading as it focuses on shorter trading periods. The belief is that by making continuous, small profits throughout the day, one can make more profit in the long-term while mitigating risk from longer-term price swings.
Swing trading can be thought of as “medium-term” trading and involves taking advantage of swings in price cycles. For example, when you think that price is swinging up or down, you buy or sell until you believe that the swing is over.
Margin trading involves trading with borrowed funds. It is only recommended for experienced traders. While margin trading lets you trade with higher amounts (and potentially profit more), it is dangerous because losing money also means having to pay back the lender.
Trading Analysis – Fundamental vs. Technical Traders also perform different types of analysis to determine the best trades.
Fundamental analysis involves looking at the overall crypto market, news about Bitcoin, Bitcoin’s underlying technology, Bitcoin’s team, and so on – these “fundamentals” affect Bitcoin’s value, which thus can be predicted by traders.
Technical analysis bases price predictions more on market statistics, such as past price movements and patterns as well as trading volumes. Believers in technical analysis look for patterns and trends when making trading decisions. It’s not the fundamentals or events that matter as much as what the price action is telling you.
Of course, many traders employ both fundamental and technical analysis in making their trading decisions. Once you’ve carried out enough research and analysis on the Bitcoin market and decided on the type of trading to get involved with, it is high time to move further.
Getting Started with Bitcoin Trading Choose an Exchange There is no official exchange for Bitcoin. Instead, users have to choose one from the many options that are out there. Here are some factors that you should consider when choosing an exchange for trading Bitcoin:
1. Location. Certain exchanges are more popular in different regions. For example, some exchanges are popular amongst traders in Europe mostly, while others can be in high demand among the US citizens. Moreover, exchanges may only be open to citizens of certain countries, which limits your options. 2. Liquidity. Liquidity is also important to consider if you are trading large volumes. The higher the liquidity in the market – the easier you can buy or sell Bitcoin. 3. Fees. Look for exchanges with relatively low fees, especially if you are trading frequently. Most trading platforms base their fees on the taker-maker model. “Maker” is someone who “makes” liquidity by putting an order on the market, such as by placing a sell order. “Taker” takes an order off market, such as by placing a buy order. 4. Trustworthiness. Of course, since you are entrusting these exchanges with actual money, it’s important to find the one that you can rely on. For example, choose exchanges that haven’t been hacked and are reliable during times of peak trading.
One of the platforms that fulfills the above criteria is CEX.IO, a UK-based exchange with over 5 years of operation. In order to start trading at CEX.IO, you need to sign up for the exchange and fund your account with any preferable fiat currency, such as USD, EUR, GBP and so on. There are different ways that you can deposit money to your CEX.IO account – credit card and bank transfer. Once you’ve funded your CEX.IO account, go to the Trading page and make use of the many advanced features that CEX.IO presents.
Study the market and place an order Once you get to the Trading page for your appropriate trading pair (e.g. BTC/EUR), you’ll be presented with a candlestick trading chart, a type of price chart that can be adjusted for different time periods. This is a good way to study a short-term behaviour of traders within the particular platform and predict further market trends.
Next is a market depth chart. Market depth shows supply and demand for Bitcoin at different prices. One side shows demand (the buy or bids side), while the other shows supply (the sell or asks side). Hovering over any single point on the chart will show how many people are willing to buy or sell at a certain price. For example, hovering over a certain point on the bids part of the chart might show that there are 500 bids to buy Bitcoin at $5,000 per BTC. Thus, you could technically sell 500 people some $5,000 BTC.
Basically, this information will be enough to make a balanced decision and proceed to placing an order within the trading platform of your choice. Any trading platform features an order book which lists the current bids and asks for Bitcoin, any active orders you have, and the market’s trade history.
That’s about it! The first steps to Bitcoin trading are taken, though…
Words of Wisdom to the Beginner Traders
“Don’t Leave All Your Funds on the Exchange” Don’t leave all your Bitcoins on an exchange; transfer them to a hardware, desktop, or other form of a more secure Bitcoin wallet. Just leave a small amount on the exchange for further trading.
“Many (or All) Cryptocurrencies Could Fail” Many compare the cryptocurrency to the dot-com bubble, which popped after most investors realized that many early Internet-based companies were worthless. Bitcoin and other cryptocurrencies, too, could suffer from a huge drop in value.
Be sure to take some of your profits off the table eventually unless you are 100% sold on the future of Bitcoin.
“Research Tax Considerations” Other issues that could affect the market include regulation, such as governments taking an anti-Bitcoin stance or imposing tax on Bitcoin trading. Tax considerations for Bitcoin trading are beyond the scope of this article, but still do your own research.
Please note that nothing in this article is meant to be tax advice and is only informational in nature.
Of course, Bitcoin trading is vastly complicated and we’re just scratching the surface. While this guide might have been easy to read, Bitcoin trading isn’t easy. Like anything else, you have to invest time and money to get good at it.
Good luck out there!
Allison Halliday is a Realty Biz News contributing writer. She handles International Real Estate and is a seasoned blogger.
[Editor’s note: We’re trying something new–collaborative thought pieces written by the Geek Estate Mastermind community. The goal is to make the absolute best argument possible, derived from the collective expertise of members. The first two articles are bull and bear arguments for industry search and IDX, a topic initiated by Greg Fischer over a year ago.
Bull: The industry must not cede search to the portals. Meeting Buyer Expectations and Owned, Perpetual Lead Generation Are Table Stakes to Agency. The full argument is here.
Bear: The portals have already won the minds of buyers. Search is an undifferentiated lost cause. If you can’t “win,” why play at all?
Without further ado, here we go with the bear argument…]
By: Drew Meyers
There’s simply no way for the real estate industry to compete in search against Zillow and other established portals with years of brand and SEO headstarts, particularly with the growing cost of providing a killer search experience across mobile and tablets. Even if the industry invested the needed capital to build a portal, the cost to reach buyers is too expensive.
Let’s define real estate industry search as any agent or brokerage website, MLS, or tech initiative majority funded by those parties. It’s worth noting that while Redfin is a brokerage that who has cracked the top three, that’s a unique situation that started at the beginning of “online real estate portals” and has unfolded over 15 years.
To change, buyers need motivation/incentive: Why in the world would a home buyer visit a brokerage’s sub-par IDX site to search for homes, when a better search experience on Zillow or Redfin is one click away? Agent and brokerage websites are all cut from the same mold; very few use their virtual real estate to differentiate on client experience and service opportunities.
The industry’s core competence is not consumer technology. Never has been, never will be.
The agent’s value proposition is about more than helping clients find a property. It’s about overseeing the entire transaction and making it a seamless experience from end to end. Helping buyers find a home with their own technology is not required to maintain relevancy.
HOW THE PLAYERS ARE FARING
A list of the top 20 real estate websites in September 2019 shows largely the same incumbents as those that graced top 20 lists a decade ago when I was at Zillow. From a 2013 top 10 list, Yahoo! Real Estate, FrontDoor, MSN are no longer. No new entrant has meaningfully broken through the ranks.
According to SimilarWeb, here’s the landscape with October 2019 data:
You can see the full rankings for the real estate category here.
Cliff Notes
Zillow Group: We can keep this short and sweet. Complete domination.
Redfin: I am beyond impressed with their slow, steady march up the rankings–now, firmly cemented as a top three search portal. They are the only brokerage anywhere in the list that benefited from an early start and deep tech/engineering roots.
Realtor.com: They keep coming out with ad campaigns and have grown their traffic, but I haven’t seen much product innovation for several years.
Yahoo! Real Estate: A top three site for over a decade that is no longer. Somehow, I didn’t notice when Yahoo! shut it down in 2016 (along with other major verticals). It’s absurd they didn’t even take advantage of the massively powerful domain they had. Why not at least keep the landing page up, and funnel organic SEO traffic to a partner for a fee? That’s what AOL did. I guess I’ll never know.
Compass: Everything I’ve heard and read says they are focused on creating leverage with unique supply, aka coming soon and exclusives. That strategy seems at serious risk with the recent Bright MLS decision.
Broker Public Portal / HomeSnap: Gaining traffic by getting agents to email listings to their entire sphere? Cool. Anything differentiated or strategically defensible? Nope. I understand the broker’s perspective, I just don’t buy it.
Consumer MLS Websites: I didn’t understand the consumer MLS portal strategy nearly a decade ago. I understand it even less today. I’m scratching my head as to why the flawed strategy is being tried again. There is still no way a buyer would switch to a website like this when the alternative is Zillow or Redfin. Remove HAR.com from the equation, and the entire category is a colossal failure.
ABANDON THE GHOST TOWN
I spoke with agents 10 years ago without IDX sites who still found a way to sell millions in real estate. Greg Fischer launched FWLocal.com in 2013 without one. If you think it’s a requirement to serve clients, you’re sorely mistaken. Even those who pay for and advertise IDX solutions know consumer usage rates are abysmal. Most IDX websites are, in fact, ghost towns sitting idle in their tiny speck of cyberspace.
Beyond that, IDX perpetuates the long-standing confusion surrounding online real estate search: buyers don’t understand who the agent showing up on the listing detail page is (it’s not the listing agent). It reinforces the status quo under the guise of innovation and stymies competition by encouraging parity in a crowded market. The mass-implementation of IDX has diluted the value prop of the end user experience, further driving home browsers to the major platforms.
Clients are already using Zillow, Trulia, Redfin, or Realtor.com to search for properties. It’s possible to pay for My Agent, getting all the branding that you get with IDX solutions without the hurdle of figuring out how to drive traffic and compete on user experience. That’s likely why Zillow got out of the game–they sold Diverse Solutions. If they were bullish on IDX, why would they sell their IDX company?
Traditional lead funnels are a waste of time. Why not wait until the buyer is ready to talk to you. Wouldn’t you rather speak to buyers when they are actually ready to speak to an agent, not six, nine, or even 18 months prior to that.
Disassembling IDX in its current form would provide increased transparency around buyer and seller agency, as well as the stage in the process a consumer should seek agency, and from whom. Only then can the industry rid itself of its decades-old obsession to clone the portals and focus on places where it is proving real value with differentiated offerings–alternative/innovative financing, trade ins, and packaged ancillary services (discounts with moving vendors, utility/service transfers, school searches, community/lifestyle amenities).
OPPORTUNITY IN THE MIDST
Agents and brokers can’t compete in search against the established order of portals: The audience lead is simply too big, the capital investment requirement too great, and customer acquisition too challenging. The money, incentive, and patience to battle Zillow for a decade is simply not in the cards. Not to mention, a core competence in consumer tech is lacking entirely.
Search is not dead. Opportunity exists in curation (green homes, modern, etc), fixer-uppers, and teardowns when structures become irrelevant.
Breaking through in search is incredibly unlikely for anyone–but not impossible. Successful execution is far more likely to come from an outside entrant. But a search solution by the industry is even more far-fetched, having the added nightmare of 1099 contractors at every turn, years between consumer use cases, and being built from the perspective of “helping the agent.”
By abandoning a hopeless fight, the industry saves itself from throwing away capital better spent cultivating relationships and, more importantly, the mental bandwidth that is better spent serving clients. Don’t cede the fight? Regardless of who the perceived opponent is, that war is over and has been over since Zillow acquired Trulia. Checkmate, real estate industry search–and IDX.
Wrap-Up
Thanks to the contributors to the thinking behind this bear argument:
The bull argument (spearheaded by Ted Adler from Union Street Media), which has already been published for members, is available in full here.
If you’re interested in learning more about membership in the Geek Estate Mastermind, which I usually describe as a think-tank for real estate tech, have a read here.
Leonardo DiCaprio recently put his Studio City home on the market for $2.395 million. That’s the second home the movie star has listed this month. Speaking at the White House this week, DiCaprio told the audience that he’d signed up for a trip to mars. Could he be cashing his chips in before the big launch to the stars? Probably not, but you never know with Leo.
At any rate, this mid-century modern home boasts 3,407 square-feet of luxury. There are French doors, multiple fireplaces, a master suite, a chef’s kitchen, and vaulted ceilings. It might not be DiCaprio’s most lavish estate, but it’s perfect for anyone looking to kick back in style.
Check it out here:
[huge_it_slider id=”10″]
[all photos via zillow]
Carter Wessman
Carter Wessman is originally from the charming town of Norfolk, Massachusetts. When he isn’t busy writing about mortgage related topics, you can find him playing table tennis, or jamming on his bass guitar.
At least, his home is pretty average, as far as movie star properties go. Diesel, bought this Hollywood Hills 2 bedroom/3 bathroom house in 2000 for just $562,500. Vin Diesel previously tried to sell the home for $1.3 million in 2013 and rented it out prior to that. Now it’s on the market for $1.395 million.
While the home may be lacking the 5+ bedrooms, basement bowling alleys, and ballroom-sized living rooms of most celeb crash pads, it still has some great features to help get you past the slightly dated bathrooms. It has beautiful hardwood floors throughout, as well as skylights and a beamed ceiling. Plus there’s also a pool out back. Not bad.
Ben Caballero, a real estate agent based in Addison, Texas, has entered the Guinness World Records after selling an astonishing 3,556 homes in a single year, a new world record.
Caballero is said to be the world’s first real estate agent to be recognized by the Guinness World Records organization for the number of home sales. It says that the 3,556 verified home sales amounts to a stunning 68 homes per week, or almost 10 homes per day, throughout 2016.
Caballero, who is the broker-owner of HomesUSA.com, was honored during a REAL Trends conference that took place in Denver, Colorado, earlier this week.
The Guinness website lists Caballero as achieving “the most annual home sales transactions through MLS by an individual sell side real estate agent.” It’s reported that Caballero sold seven-times more homes than the second-highest selling agent, who shifted 467 homes during 2016. Caballero also set a second record for the amount of money he recouped for his clients, as his 3,556 home sales totaled some $1.444 billion. This figure also tops Caballero’s previous record of $1,022 billion in sales set in 2015 for 2,491 sales when he became the world’s first “Billion Dollar Real Estate Agent.”
“Being named a Guinness World Record holder is truly the highlight of my professional career,” Caballero said in a statement. “It’s incredible that, until now, no real estate agent has ever been recognized for setting a world record for home sales. I am honored.”
“For years, our rankings have recognized the accomplishments of thousands of real estate professionals, but no one came close to achieving what Ben has,” said Steve Murray, president of REAL Trends. “Recognition of Ben’s achievements by Guinness World Records is truly amazing.”
Caballero specializes in selling new homes for more than 65 construction companies in the Dallas-Ft. Worth, Houston, Austin, and San Antonio areas.
Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at [email protected].