Looking to build a solid base of business from a specific area in your market? Real estate farming is a strategy you should consider, and today’s guest, Bill Sohl, is an expert on it. Listen to this podcast and learn how Bill went from a small geographic farm to one that targets over 40,000 luxury properties. Bill also shares where most Realtors should start with farming, offers his top tips for success with direct mail, and explains why real estate agents must differentiate themselves in order to succeed.
Get 10+ hours of mastermind-level content 100% FREE. Register at Carrot.com/Rockstar today!
Listen to today’s show and learn:
About Bill Sohl [3:56]
About real estate farming [5:10]
Wowing potential clients in your farm [9:06]
Why agents must differentiate themselves [15:10]
Tips on postcards and mailers [16:38]
A system for scaling with mailers [20:24]
How to know when it’s time to grow [26:17]
Costs to consider with direct mail [28:25]
Bill’s experience at the first Real Estate Rockstars Mastermind [30:28]
Finding value in the Real Estate Rockstars podcast [36:35]
Connecting on a deeper level with seminar speakers [37:32]
One thing you must include on your postcards [43:56]
Giving value to get leads [45:27]
Start small to ensure your success [47:11]
Bill’s advice for new real estate agents [48:56]
Where to find and follow Bill Sohl [51:09]
Bill Sohl
Bill knows that buying or selling your home can be one of the most important transactions in your lifetime. Whether you’re just starting out, trading up, relocating, or making a lifestyle change, you can count on Bill to go above and beyond the call of duty to make your deal a success. In addition to being a Realtor®, Bill is a licensed general contractor and a Certified Home Luxury Marketing Specialist. He is able to provide superior service, and pay attention to every little detail, simply because he has intimate knowledge of every step in the process. Bill’s expertise also provides an impressive networking team to help his clients have the best experience possible when it comes to buying or selling a home.
Related Links and Resources:
It might go without saying, but I’m going to say it anyway: We really value listeners like you. We’re constantly working to improve the show, so why not leave us a review? If you love the content and can’t stand the thought of missing the nuggets our Rockstar guests share every week, please subscribe; it’ll get you instant access to our latest episodes and is the best way to support your favorite real estate podcast. Have questions? Suggestions? Want to say hi? Shoot me a message via Twitter, Instagram, Facebook, or Email.
Three of the four Altos price measures are now showing positive data compared to 2022. The median price of the homes in contract is higher than last year and the new sales each week are up a few percent over last year. This is what a soft landing looks like. The froth is out of the market. There was no crash.
Could the market crash from here in the future? Of course, it could. Buyers are very sensitive, so if inflation reheats, unemployment spikes and mortgage rates jump again, then the economy fails at its soft landing and craters hard. We could see inventory from distressed sellers emerge in 2025. But that’s a long way out. So right now — soft landing.
Price
The median price of all single-family homes on the market in the U.S. is $450,000. That’s essentially unchanged from 2022. It is just a few hundred bucks lower. In the dark red line above, the data shows how rapidly home prices were adjusting lower starting in July 2022. This year, prices are past their annual peak and will decline, but in a few weeks, it looks like the market will be up year over year.
The median price of the newly listed cohort — all the homes that hit the market in the last week — is about $410,000. That’s higher than in 2022 at this time. Last year if you listed your home in July, you priced at a discount because there were no buyers. But buyers are present this year, so prices are not up year over year. In the light red line on this chart, the data shows the rapid price decline of the new listings in the second half of 2022. That seasonal decline will be less steep this year, so annual prices will increase more as the year progresses.
I’ve been watching the price of the new pending sales each week. This statistic is really compelling as a leading indicator of future sales. The median price of the new pending sales this week is $379,000. That’s down from last week but you can see how the home sales each week now are consistently higher priced than they were in 2022. The dark red line is the weekly curve from this year. The light red line is the curve of last year. Look at those big buyer discounts in July and September of 2022.
When I talk about a soft landing, this is where you can really see how it could get derailed. Buyers are sensitive to big jumps in mortgage rates. If I’m getting ready to buy a house, and mortgage rates jump in a week, I either hold off, or I have to buy a cheaper home. We can see the immediate impact of the mortgage rate spikes from 2022 in the price of each week’s new pending sales. The data also shows how, right now, home prices are holding up each week. Fortunately for the soft landing, inflation numbers were encouraging last week so mortgage rates fell.
Will the rest of the year continue to show price gains? As of right now, the data says yes. We can see that the homes on the market now are not taking price cuts at any unusual rate. That’s because sellers see demand at the current asking prices. Homes that are on the market now, if they don’t have offers, take a price reduction, get an offer in August, that sale closes in September or October. That data will be reported in October or November. So we can see almost through the end of the year how the soft landing home prices are holding up.
In this chart, the dark red line is the curve of price reductions through the year so far. Currently, 33.1% of the homes on the market have taken a price cut. This is a rate about the same as 2018 or 2019 for example. It shows us that demand isn’t crazy like during the COVID-19 Pandemic, but is just fine for the current level of supply of homes for sale.
As the year goes on, more homes still on the market will take a discount in order to attract buyers before the fall. There’s a normal seasonal curve here. This is what a balanced housing market looks like.
As the real estate market’s soft landing has become apparent, the housing bears have switched from fearing that home prices are tanking to pointing out that the sales rate transaction volume is way down. This is accurate. We have fewer sales now than we did a year ago.
Interestingly, as part of the soft landing, the sales rate is now gradually catching up with last year. There are now 378,000 single-family homes in the contract pending stage. That’s 10% fewer than 2022 at this time and fractionally fewer than last week. We’re past the seasonal peak for sales volume, so each week we should generally see fewer pending sales.
In 2022 the market was still slowing, so while there are 10% fewer homes in contract, this week there were only 4% fewer newly into contract. Just 4% fewer buyers making offers compared to 2022 at this time. There are 58,000 new contracts on single-family houses this year compared to just over 60,000 in mid-July of 2022. We’re gradually getting closer to last year’s pace. I imagine by later in the summer we’ll be showing more sales each week than we had in 2022 at this time. Especially if mortgage rates drift lower from here.
Inventory
The second half of 2023 looks like there will be more sales on less inventory than the year prior. It’s not a lot of sales. Demand is way lower than during the COVID-19 Pandemic frenzy, and we’re so severely limited with supply that any uptick in demand doesn’t really have anywhere to go. But the end of 2022 was stopped cold and this year is warmer, on all measures. That’s what I mean when I say soft landing.
There are 470,000 single-family homes on the market now. That’s up 1% from last week. It’s 7.5% fewer homes on the market now than in 2022 at this time. That inventory gap between now and last year is growing wider every day. Even with mortgage rates around 7%, the sales rate has remained strong enough to keep the inventory in balance.
2023 began with 490,000 single-family homes on the market. What’s wild is that may prove to be the highest inventory of the year. There were more homes on the market over the New Year holiday than there are now. Most years, inventory peaks at the end of July. In the market slowdown years, for example, 2018 or 2022, inventory can keep growing later into the summer or even the fall. Sellers keep listing and buyers hold back. This year is not a slowdown year. It could be that the first week of January turns out to be the greatest inventory for 2023. That’s what a soft landing looks like.
There are some local markets that have not landed as softly as the whole country. There are some markets where demand hasn’t recovered. For example, downtown San Francisco seems to have a lot of churn still to experience. And as I’ve said before, a soft landing in 2023 doesn’t mean that home prices will never go down. That would be just silly to presume. Soft landing describes how the market has successfully transitioned from crazy hot to much more stable without going through painful over correction
Mike Simonsen is the president and founder of Altos Research
Today’s guest, Jordan Cohen, is the six-time top RE/MAX real estate agent in the world and has shattered sales records time and again in his 30+ year career. As an agent, he’s represented famous athletes and celebrities, including Sylvester Stallone. On this podcast, Jordan shares how the perfect real estate listing presentation wins him business from the world’s most notable figures. Tune in and learn how to wow luxury listing clients and how to build confidence as a real estate professional. Jordan also discusses his new book, The Agent’s Edge. Don’t miss it!
Listen to today’s show and learn:
Jordan Cohen’s start in real estate [3:00]
Jordan’s first luxury listing [3:05]
The most important tool a Realtor can have [4:22]
The trick to geographic farming [5:29]
Winning real estate listings from mailers [8:27]
How to compete and win with real estate listings [12:59]
Listing presentation tips [14:15]
How to build confidence in yourself as a real estate agent [17:01]
A better way to win real estate listings [23:40]
The best way to generate leads [25:41]
How to win real estate listings via Instagram [26:42]
Commissions on luxury listings [33:52]
How to convince sellers that they need you for a full commission [34:59
What real estate really is [37:54]
Jordan Cohen on knowing your strengths and weaknesses [39:06]
Jordan’s advice for new real estate agents [41:29]
About The Agent’s Edge by Jordan Cohen [43:10]
Jordan Cohen
Jordan Cohen is the #1 RE/MAX Agent Worldwide. He annually closes over $314,000,000 in sales. Jordan prefers to work alone with two assistants, Kristi Dougherty for 16 years, and Madison Adams for nearly 3 years. He does not employ a team or partners. When working with Jordan Cohen, you will work with him directly.
Jordan graduated from Cal State Northridge in 1990 with a Communications Degree with an emphasis in Sales and Marketing, and headed straight into Real Estate. He has worked as a full time luxury real estate agent for 30 years.
Jordan Cohen specializes in Luxury Estates and has been recognized in many publications including Unique Homes, Dream Homes International, DuPont Registry and the LA Times. Additionally, since a third of his clientele are celebrities and professional athletes, he has been featured on ESPN.com and his listings have been profiled on EXTRA and Access Hollywood. Jordan has represented over 100 professional athletes, as well as numerous actors, entertainers, and Hollywood executives. In addition, Jordan is extremely active and highly engaged in social media. Verified by both and, he is closely followed by nearly 600,000 people.
Jordan’s greatest pleasure is spending quality time with his family. He also enjoys sports and travel whenever possible. Jordan is happily married to Becky, his wife of 29 years. Together, they have two children, Cameron, age 26, and Cassidy, age 23.
Jordan Cohen prides himself on an aggressive approach to marketing! Jordan is not a discount agent but works with estate clientele who expect and demand superior representation. He can be contacted at (818) 435-5220 or reached via e-mail at [email protected].
Follow Jordan on Twitter @JordanCohen21 and Instagram @JordanCohen1.
Related Links and Resources:
It might go without saying, but I’m going to say it anyway: We really value listeners like you. We’re constantly working to improve the show, so why not leave us a review? If you love the content and can’t stand the thought of missing the nuggets our Rockstar guests share every week, please subscribe; it’ll get you instant access to our latest episodes and is the best way to support your favorite real estate podcast. Have questions? Suggestions? Want to say hi? Shoot me a message via Twitter, Instagram, Facebook, or Email.
The COVID-19 pandemic could result in waves of people moving from the city and into the suburbs in search of more space, forecasts show.
While 30% of American say they’ve browsed real estate listings recently, those who live in urban areas are twice as likely as those living in the suburbs or rural areas to actually be interested in buying or renting a home or apartment, according to a new Harris Poll conducted last month. Almost a third of American say they’re considering a move to a less densely populated area due to the coronavirus, the same poll shows. Moreover, nearly four in 10 of those respondents were urbanites who say COVID-19 is what has prompted them to consider such a move.
John Downs, a real estate pro with Berkshire Hathaway in Connecticut, told The Wall Street Journal he’s expecting to see much greater demand for McMansions in more remote locations, once the coronavirus has passed. He said that he’s already noticed an increase in inquiries about properties in remote areas from city dwellers.
A separate report by CNBC shows an uptick among New York’s wealthiest residents who’re looking to move into the suburbs or exurbs in order to enjoy a less crowded lifestyle. Most are seeking more space and distance from their neighbors and crowds, real estate professionals say. For some, it may be they’re interested in buying a second home that’s still close to the city. For others, it may be more permanent.
“It seems like everyone wants to leave the city,” said Steve Magnuson, a broker with Douglas Elliman in Greenwich, Connecticut, in an interview with CNBC. “Our problem is not enough inventory for sale. We’ve been on the phone 24/7 and on email.”
Magnuson recently rented a five-bedroom home with an infinity pool in Greenwich for $55,000 a month—a record high for the town. The rental is now available again but is listed at a more expensive price—$65,000 per month—and has a waitlist of 18 people desiring to rent it.
People in the city who are eyeing suburbia are looking for a more spacious place to run, walk, and ride bikes. Wealthy buyers are also focusing on homes with a pool, large home office, and strong internet and cell services, Magnuson notes.
Could the rush from city to the suburbs be temporary, as it was following the Sept. 11, 2001, terrorist attacks? Brokers report a momentary shift in the market during that time as more people fled the city. But they quickly returned, driven by overseas buyers and young professionals. Even without an exodus, brokers are still banking on a desire for second homes to grow among the wealthy after the pandemic.
“Being able to go someplace not far from your home, where you have a home office and can keep your friends and family safe—that’s number one,” Magnuson told CNBC.
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]
In March, a modest bump in homebuyer demand, combined with a decline in for-sale inventory, drove up home prices compared to the month prior. While home prices in many Western and pandemic boom markets are still well off their peaks, 40% of major markets have seen prices return to peak levels, according to Black Knight‘s mortgage monitor report.
Nationally, home prices rose by 0.45% in March on a seasonally adjusted basis, slightly stronger than the revised 0.43% increase from the prior month.
“The strengthening in home prices is the direct result of a second month of modest increases in sales volumes meeting a continually shrinking for-sale inventory,” Andy Walden, Black Knight vice president of enterprise research, said.
Cities in the Midwest and Northeast — Columbus, Ohio (+1.1%); Hartford, Connecticut (+1.0%); Cleveland, Ohio (+1.0%); Cincinnati, Ohio (+0.9%) and Baltimore, Maryland (+0.9%) — saw the largest home price increases, along with Miami, Florida (+0.9), which is leading the South.
The only markets in the top 50 by population where seasonally adjusted prices are still falling are Austin, Texas (-0.7%); Salt Lake City, Utah (-0.12%) and San Antonio, Texas (-0.07%). Phoenix, Arizona and Dallas, Texas are effectively flat month over month.
The annual home price growth, however, continues to cool. Prices were up just 1.0% on an annual basis, a backward-looking metric that has been falling by 1.3-1.4% each month since the start of 2023.
While the annual home price growth rate is on track to fall to roughly 0% by April, low inventory levels will limit just how far that metric will fall in the coming month, Walden noted.
The supply of active listings fell for the sixth straight month in March, marking the lowest level since April 2022. March also saw a deterioration in supply in 90% of major markets.
New listings aren’t filling the gap either. In March, 30% fewer properties hit the market when compared to pre-pandemic norms.
Current available inventory represents just 2.6 months of supply on a seasonally adjusted basis, “tipping the scale back toward sellers in a tightly constricted market,” Walden said.
Despite overall lower mortgage rates compared to March, recent weeks saw a pullback in purchase rate lock volume, according to Black Knight’s report. As of April 26, rates averaged 6.38% for the month, down from the 6.56% average daily rate for the month of March.
Rates remained volatile through March and April – dropping from a high of 6.85% in early March to 6.21% by early April. By mid-April, rates had climbed back up above 6.5%.
Purchase rate lock volume also fell 18% on an unadjusted basis in recent weeks. Refi volume has declined by 17% among cash-outs and by 24% among refi-term refis since mid- to late-March.
In addition, the national delinquency rate dropped 53 basis points in March to 2.92%, falling below 3% for the first time on record dating back to January 2000. The national delinquency rate was also down 13% year over year as of March.
The overall decline in delinquencies outpaced the typical March seasonal improvement of 10.5%, which was attributed to borrowers using tax refunds and other seasonal revenue to catch up on late payments, the report noted.
Prepayment activity rose for the second consecutive month after hitting a record low of just 33 bps of single-month mortality (SMM) in January.
Housing turnover continues to drive the largest share of prepayment activity, accounting for 57% of SMM in March. Nearly two-thirds of the increase in prepayment speeds over the past two months can be attributed to the rise in housing-turnover-related prepayments, which were driven by both seasonal and rate-related pressures.
Seasonal pressures are likely to continue, as housing-turnover-related prepayments typically rise by more than 30% from March through June, which would translate to a 9-bps rise in SMM, according to the report.
Wondering when the best time to buy a home is? And the worst time? Well, thanks to data science, we no longer have to guess whether it’s fall and winter, or spring and summer.
I’ll save you the suspense: the very best time to buy your dream home is late summer, namely August and September, this according to a new study from real estate listing website Zillow.
Apparently prospective home buyers will find the most home inventory and a greater number of price cuts during these temperature-hot months, giving them better odds of finding that perfect home.
This means it might be easier to negotiate prices and perhaps even snag a lower price if the property stays on the market for a prolonged period of time.
Inventory Remains a Problem
An inventory glut in late summer
Could be the perfect time to buy a home
Because home sellers will be getting desperate
And there might be fewer competing buyers at that time
As you probably know (if you’ve been house hunting), inventory is scarce. It’s slim pickings out there and hasn’t gotten any better, despite predictions telling us otherwise. They were wrong about mortgage rates going up too…
Overall, inventory is off 5.3% from a year ago, meaning you’ll have to buckle your seatbelt and prepare for another tough year if you’re in the market to buy a home, or getting ready to be. Real estate investing is also getting a lot less attractive, and not so easy.
Conversely, if you’re a seller, you don’t even have to clean your house, make the bed, or mow your lawn – it’s already sold!
Okay, maybe you should do those things to fetch a higher price, but the seemingly endless seller’s market persists.
However, there are some house hacks (pardon the awful, awful buzzword) to increase your chances of landing your dream home.
Zillow found out that in most major metros, the month of August featured more for-sale listings than any other month during the year.
For example, last year in Los Angeles there were about 8,000 more homes for sale in August than in April. The total number of homes for sale increased from 26,000 to 34,000, a major 31% increase.
The same trend was found in many other metros, from Detroit to San Francisco, though not all of them.
However, it wasn’t just inventory that improved. Competition also went down in late summer, so even if fewer homes were on the market, there were fewer buyers chasing them.
Conventional logic tells us that many would-be buyers want to get situated well before summer ends to ensure they can get their kids enrolled in the new school. They may also be taking family vacations during late summer.
It’s also just plain hot in some parts of the country, which might affect buyer traffic and seller motivation, regardless of market conditions.
Price Reductions Most Common in Late Summer
As time goes on and desperation grows
Home price reductions might become more prevalent
Which leads to opportunity
And the potential to negotiate even lower!
With more homes and fewer prospective buyers comes price reductions. After all, the business law of supply and demand will dictate a homes price, and if fewer people are chasing more homes, the sales price must down come.
Zillow discovered that 15.1% of active real estate listings had a price cut in August, significantly higher than the 12.8% of homes in April.
That increases your chances of finding a home on sale, assuming the starting points (listing price) were relatively similar. September was also a good month to find a deal, with 14.3% of homes on sale, so to speak.
Of course, this wasn’t the case everywhere, with cities like Ft. Lauderdale seeing pride reductions drop in the six months from March to September.
By the way, if you’re wondering when it’s the best time to sell a home, it’s supposedly early May, per Zillow, though Redfin argued winter was the best back in 2013. Of course, for a lot of buyers and sellers, the sale and purchase have to happen concurrently.
The Best Time to Buy a Home Is a Moving Target
Just remember that the perfect time to buy isn’t set in stone
Nor will it be the same in every market nationwide
It can change depending on what’s happening in the economy
And the local housing market in question
Like anything else, the best time to buy (or sell) is really dependent on a number of factors that can’t be summed up by one datapoint.
The old adage says real estate is local. Today, you can add hyper to the front of local. Real estate markets are different, plain and simple. One neighborhood might be cold with days on market creeping higher and higher while a nearby pocket or street is on fire, with bidding wars the norm.
That’s why things like median sales, census bureau data, nationwide home inventory, and what the Federal Reserve is doing might not matter all that much, if at all. Who cares what the median sales price is in Orange County if you live in LA?
There’s also the practicality of timing a buy, or even a home sale. Buying and selling isn’t only dictated by price. It’s usually driven by life events, which tend not to happen at the ideal time.
For home buyers, the process is a long one that isn’t just decided on one night. You can’t say, “Honey, we should buy a home this August.”
Or, “I will sell my house in April.” That might mean you need to buy a home in April too, which could be the worst time because everyone else is out house hunting too.
Nope, it takes lots of time and research, touring, open houses, ups and downs, close calls, and more to finally snag that right property, even if it happens to take place in the worst month.
Zillow even says the average buyer spends more than four months shopping for a home, and makes at least two offers along the way.
I feel like it’s pretty rare to make one offer on one home and have that be the end of the story. Sure, it may depend on the housing market (and the buyer), but nowadays it seems you have to strike out once or twice before getting a hit.
Sometimes that could be walking away during the home inspection period, while other times you might get outbid or be unwilling to offer more than someone else looking to buy.
Whatever the case, odds are good that the home buying process will take many, many months, if not years. So if you happen to buy in August or September, great! You may have found a property with a price cut. The same might be true even if it drags into the winter months.
But telling your significant other that it’s prudent to wait until later this year probably won’t fly. You’ll at least want to get the ball rolling as soon as possible.
On top of all this, there’s a good chance Zillow will tell us that the best time to buy is a different month after more data is analyzed next year. So it’s probably best to chalk this one up to interesting, but not words to live by.
Be Proactive to Get a Lower Price
Stay on top of your own finances
While tracking the real estate market
To ensure you get approved for a home loan
At the best possible price
A smarter move might be focusing on your finances to land a better mortgage rate, which can lower your homeowner costs at any price point.
For example, instead of worrying what month it is, or avoiding the worst months to buy, worry about your three credit scores. Make sure they’re all in tip-top shape to avoid unnecessary pricing adjustments on your home loan.
Also take the time to shop mortgage rates with different lenders instead of going to one bank, broker, or credit union. And compare loan programs.
These two steps alone can make a huge difference in what you pay each month to own your home, no matter the sales price at closing.
While you’re at it, choosing the right real estate agent is also key. Find one who knows the art of negotiating to ensure you get a good deal no matter what the month.
Some real estate agents are afraid to make lowball offers, while others are willing to take chances when they see opportunities. This is another factor to consider.
Along those same lines, it’s important to get pre-approved beforehand and show the sellers you’re a serious candidate.
It’s not unheard of to show them you’ve got assets available for a large down payment to get your offer accepted, even if there’s a slightly higher offer already submitted.
Lastly, make sure it’s a good time for you personally. Are you ready to become a homeowner? Is now the right time mentally and financially? Did you do your research, set aside funds for a down payment and closing costs, learn about mortgages, etc.?
Using these common-sense tips, you can get a good deal on a home during any month of the year, even in a red-hot market, and even when it’s supposedly the worst time to buy.
For some, it’s the smell of freshly cut grass and the brush of leaves in the breeze, creating an escape from daily stressors. For others, it’s a competitive arena where precision skills are honed. It’s where business is sealed with a handshake, lifelong friendships are forged, wagers are won—and drinking is not only permitted, but encouraged.
It’s been called “a good walk spoiled” (Mark Twain), “the most fun you can have without taking your clothes off” (Chi Chi Rodriguez), and “an endless series of tragedies obscured by the occasional miracle” (many, many folks).
If the allure of golf has you in its grip, as it does for so many, perhaps you’ve entertained the fantasy of living near a golf course. Affordable real estate with great proximity to a course might sound too good to be true, like hitting a hole-in-one with your first swing of the day (or ever). But we’re here to correct that notion.
The data team at Realtor.com® found the places in the U.S. that have the best balance of great access to golf courses, relatively affordable real estate, and weather best suited for days on the greens. Some of these towns you’ve surely heard of and might assume come with a high price. Others are hidden gems you might not have thought of as great golf markets.
Whether you’re a near pro, a weekend duffer, or someone who just likes the idea of living near a course, you might just find your dream home on the green. Even if you’re not a golfer, these cities offer a lot to appreciate, from excellent weather to a high quality of life.
“In most residential golf communities, it’s only about a quarter of residents who are active golfers,” says Brad Klein, a golf course design consultant and golf journalist. “So what that tells you is that a lot of people are drawn to the golf community, even if they don’t play golf.”
Most golf communities draw a highly diverse group of homebuyers who nonetheless share certain bonds: They’re physically active and crave regular social interaction, says Klein.
“If you have golf, you probably also have pickle ball, swimming, platform tennis, a gym, and a social center at the local clubhouse,” he says. “Even if you don’t play, you have all kinds of options living near this sort of community.”
The cities on our list aren’t just golf havens. Many are also places with a high quality of life, where a cost of living below the national average makes them affordable not just in terms of real estate, but also in terms of everyday expenses.
We found these places by first rounding up all the real estate listings on Realtor.com from the past year within a 10-minute drive (in normal conditions) from one or more of the 6,445 public and private golf courses in the nation that we were able to map out. Then we aggregated home price data for those listings by city.
Then we factored in the number of golf courses clustered in those areas and weighed the climate and weather patterns—favoring places with more warm days to hit the links. Finally, we selected just one place per state, to ensure geographic diversity. (Otherwise, the list would be mostly Florida towns, along with some Mississippi locations and a couple of spots in Arizona.)
Let’s tee off into our top 10 locations for finding affordable homes near a golf course.
Nearby golf courses: 28 Median list price* for homes near golf courses: $299,900
Sun City, known for decades as a golf lover’s dream community, has year-round golf weather, a staggering number of nearby courses, and real estate that’s priced about 9% below the national average, vaulting it to the top of our list.
Now, this does come with a caveat: Generally, residents must be aged 55 and up, because this planned community on the northwest corner of the Phoenix metro area is aimed at retirees. The rules for who can live there are a bit complicated, so be sure to read up on the details.
This desert oasis has been drawing golf-minded retirees since it was established in 1960. Sun City was the first active retirement community in the United States, and it earned its pioneering developer, Del Webb, a place on the cover of Time magazine in 1962.
“What’s most impressive about it is how difficult it was to get golf courses out there with so little water,” says golf expert Klein. “The course superintendents getting grass to grow out there, on decomposing granite in the middle of the desert, is just amazing. People must have thought they were crazy.”
The Sun City South Golf Course is one of the most well known of the 28 golf courses in the area.
This 1,700-square-foot, two-bedroom home that backs up to the course is listed for $325,000.
Nearby golf courses: 12 Median list price for homes near golf courses: $245,000
Situated on the edge of the Atlantic Ocean, a little north of Fort Lauderdale, and just south of Boca Raton, Deerfield Beach has great access to golf courses and the shore. (See our annual affordable beach towns list, in case that also strikes your interest.)
The median home price for Deerfield Beach listings within 10 minutes of a golf course is $245,000, far below the national median of around $430,000. That’s because the vast majority of listings are cheaper condos and townhomes under 1,000 square feet.
The climate in Deerfield Beach is classified as a tropical rainforest, with warm, wet summers and mild, dry winters, making it an ideal location for all kinds of outdoor activities year-round.
“I was just in Deerfield Beach,” says Beth Daly, a real estate agent at Re/Max Experience in Fort Lauderdale. “We had the bluest sky, and the ocean was like a glass of water you could see all the way to the bottom.”
Daly says she frequently hears about the golf culture that buyers—especially out-of-towners—are looking for.
“I just had some golfers from Buffalo Grove, outside of Chicago,” Daly says, “They wanted a full-service club to live near, and they had plenty of options to choose from.”
Nearby golf courses: 11 Median list price for homes near golf courses: $215,000
Biloxi is a city that we see often when we look for affordable housing markets with standout quality-of-life features. Homes here are very inexpensive, at just about half of the national median list price.
And the Gulf coast climate means you golfers can hit the links just about anytime of the year. And when taking a day off from playing golf, residents here can enjoy the Biloxi beaches, with the neighboring Gulfport leading our most affordable beach towns list.
This three-bedroom, 2.5-bathroom house on a third of an acre, for $324,900, is near the Sunkist Country Club’s championship 18-hole course.
Nearby golf courses: 11 Median list price for homes near golf courses: $319,000
One of the most iconic Southern cities takes a top spot on our list, with year-round golf weather, homes priced about 25% below the national median, and plenty of opportunities to hit the fairways. The coastal, Gothic city is also known for its antebellum architecture and arts and culture scene.
The whole southeastern Atlantic seaboard is thick with golf culture and an abundance of world-class courses.
“Savannah, and the areas north into the Charleston area—where we hear it called ‘Lowcountry’ golf—is really popular right now,” says Tom Coyne, a New York Times bestselling golf author. “There’s so much more to this area than just the buddy trip for one or two rounds.”
But it’s not just exclusive or high-priced courses that people should think of in the area.
“There’s a sneaky-good public golf course in Savannah, called Bacon Park, which is just really charming and very affordable, and I believe it was designed by Donald Ross [we checked, and it was], a famous golf course tech,” Coyne says. “To be able to play a Donald Ross course for whatever the greens fee is there, it’s just awesome.”
Home shoppers can find a three-bedroom home about a half-mile from the Bacon Park Golf Course for $328,000.
Nearby golf courses: 7 Median list price for homes near golf courses: $194,900
Mobile, located on the Mobile Bay spilling out into the Gulf of Mexico, has the most affordable golf-proximate real estate on our list. Home prices here are less than half the national median of $430,000 in April. And while the home prices aren’t high, the area is rich with golf history.
“Alabama is known for the Robert Trent Jones Golf Trail, where they have a literal trail of courses designed by the great Robert Trent Jones,” Coyne says. The famous golf course architect designed more than 500 courses between the 1930s and the 1990s.
Mobile and the surrounding areas have a subtropical climate, which means lots of rainfall, so it’s no wonder the area has been a center of golf culture since early in the 20th century.
Nearby golf courses: 22 Median list price for homes near golf courses: $290,000
The first thing golf expert Klein asked when he heard about our list: “Do you have Myrtle Beach on the list?”
Myrtle Beach has been referred to as “The Golf Capital of the World” due to the sheer number of courses and the rich golf history in the area. The economy in this oceanfront South Carolina city is driven in large part by the vibrant tourism industry, which is mostly centered on the attraction of the area’s world-class golf courses as well as its amusement parks and famed beach.
Boasting courses from the Pine Lake Country Club to TPC Myrtle Beach, this popular vacation spot is practically synonymous with the sport.
Plus, with home prices per square foot not too far from the national median figure, this golfer’s dream is not just for the well-heeled. And with a population just topping 35,000, Myrtle Beach is the smallest of places on our list, which adds to the homey feel.
For less than $100,000, golfers on a budget can find a two-bedroom condo that’s walking distance from the famous Pine Lakes Country Club.
Nearby golf courses: 13 Median list price for homes near golf courses: $569,900
About an hour east of Los Angeles, in the center of the San Bernardino Valley, you’ll find Riverside. It’s the namesake of Riverside County and the most populous city in what’s called the Inland Empire—a broad swath of Southern California’s noncoastal desert region.
With year-round golfing weather and access to more than a dozen courses within 10 minutes, Riverside has the best combo of prices, nearby golfing, and climate in the Golden State.
To be sure, Riverside is the most expensive place on our list, with homes priced more than 30% above the national average, and even more per square foot. But, in the context of California’s real estate prices, Riverside is cheap. It’s around 20% less expensive than the California average and 40% less expensive than neighboring Los Angeles.
Those looking for a place near downtown Riverside but also close to a golf course might want to look at the Jurupa Hills Country Club, where buyers can find a three-bedroom home near the greens for $455,000.
Nearby golf courses: 35 Median list price for homes near golf courses: $229,000
The last three cities on our list are all in the Midwest, where homes have historically been more affordable than in other parts of the country. In Indianapolis, the capital of Indiana, homes within 10 minutes of a golf course are still 40% less expensive than the national average. And there are a surprising number of golf courses in this region.
Midwestern winters can be brutal, but the average monthly temperature is still above 50 degrees Fahrenheit for more than half of the year. While that might mean residents consider golf more of a seasonal pastime in these final three cities, the prices are less than half of what you would find in a city like Riverside, CA.
One of the most notable Indianapolis courses is built into the site of the Indianapolis 500, mixing golf with another of the town’s iconic draws.
Saddlebrook Golf Club is one of the closest to downtown Indianapolis, and for just shy of $230,000, home shoppers can get a three-bedroom home on a quarter-acre about 1,000 feet from the course.
Nearby golf courses: 26 Median list price for homes near golf courses: $239,900
Cincinnati, located on the Ohio River, boasts low home prices—and low-cost opportunities to play golf on a good public course.
“It’s so much more affordable than golfing in a place like New York or Chicago or L.A.,” says Klein of playing in smaller Midwestern cities.
Moreover, the Rust Belt city has an indelible golf tradition, in part due to the golf royalty from the area.
“In Ohio, you have a great golf history,” says Coyne. “Anyone who’s done anything big in the sport of golf has left a stamp in Ohio. And Jack Nicklaus hails from Columbus, so there’s got to be something good going on in Ohio.”
The Camargo Club, on the northeastern end of the Cincinnati area, has been ranked one of the best in the state. While the homes nearest to the course include custom-built, multimillion-dollar mansions, a three-bedroom home can be found about five minutes away for just under $280,000.
Nearby golf courses: 23 Median list price for homes near golf courses: $249,950
Golf might not be the first thing that comes to mind when you think about Omaha, Nebraska’s largest city located on the Missouri River. The city is home to several Fortune 500 companies, including Warren Buffett’s Berkshire Hathaway. It also boasts one of the best zoos and aquariums in the world.
But there are many options in Omaha for those looking for a home near a golf course, says Chris Bauer, a local Realtor at Berkshire Hathaway HomeServices. He’s found buyers are looking for either a more affordable option, usually near a public golf course, or access to pricier private clubs.
“Those are two different sets of buyers,” he says. “For the avid golfers who would only buy on a private course, you have Shadow Ridge, Deer Creek, Happy Hollow, or the Omaha Country Club.”
And for those looking for somewhere to live near a public course: “Pacific Springs, The Knolls, or Johnny Goodman. Those are all popular. There’s a wide spectrum here,” he says.
Watch: The Best Cities in the U.S. for Home Sellers Right Now
* Median list prices are from the last year on Realtor.com.
Looking for ways to work in the luxury real estate market? Listen to today’s podcast with luxury real estate agent Sarah Knauer and learn how to win listings at a higher price point. In addition to covering the luxury niche, Sarah shares systems for staying in touch with your sphere, how to keep it simple with CRMs, and what to do when deals fall apart. Sarah and Aaron also cover the benefits of joining a real estate team and locking in a daily schedule for success.
Listen to today’s show and learn:
Sarah Knauer’s start in real estate [3:25]
The pros and cons of being a salaried real estate assistant [4:49]
The benefits of joining a real estate team [6:57]
Finding the right fit for your personality [9:14]
Real estate is a long-term game [10:18]
Systems for staying in touch with potential and past clients [13:30]
Keeping it simple with CRMs [18:31]
Niching down without turning down opportunities [19:49]
Finding your real estate focus [23:41]
Sarah’s daily schedule for success [27:06]
Leveraging who you know for listing leads [29:16]
What to do when deals fall apart [33:04]
Upgrades that matter in a luxury real estate market [39:13]
How to convince your client to agree to staging [42:23]
Where to find and follow Sarah Knauer [44:45]
Sarah Knauer
There’s hardly an area of Los Angeles that agent, Sarah Knauer, isn’t familiar with. From the San Fernando Valley to the Westside, this native has lived in or explored many of the city’s regions and knows what makes each one unique. Assisting all types of clients from first-timers to investors to international multi-home buyers, Sarah is deeply passionate about helping each find their perfect home in her favorite city in the world.
Sarah obtained her real estate license in her senior year of college while pursuing a liberal arts degree at Pepperdine University. Not surprising, given her lifelong love of home and design and the fact that both her parents were residential and commercial real estate owners. A leisurely weekend for Sarah was attending open houses, and the Los Angeles backdrop made the experience even more special. Having lived in areas such as Westlake Village, Malibu, and Brentwood, and with her expertise in contracts, negotiations, and marketing, Sarah knows how to find and add significant value to the amazing real estate opportunities the city has to offer. This passion and expertise has also landed Sarah on NAR’s 30 Under 30 List. She is also currently working on obtaining her broker’s license.
Sarah currently lives in Santa Monica and enjoys hiking as well as discovering new restaurants and venues from Malibu to Downtown LA. She is also very involved in her community, which includes the Make-A-Wish Foundation and Pacific Palisades Chamber of Commerce: she is currently its youngest Chair and also sits on the board of The People Concern.
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The housing market is getting stranger by the day.
While affordability has arguably never been worse, prices are rising and there are virtually no homes for sale.
This is making it difficult for both housing bulls and bears to make the case for a boom or a crash.
When all is said and done, we might just experience a stagnant market that fails to keep up with inflation.
And a severe economic downturn in the housing industry due to a lack of sales volume.
New For Sale Listings Hit Seasonal Low in June
First things first, new real estate listings are off a whopping 25% from a year ago, according to a new report from Redfin.
This covers the four-week time period ending on June 4th. Just 89,249 homes were listed.
And the real estate brokerage noted that new listings fell in all metros analyzed.
The declines were the most pronounced in Las Vegas (-42.3% YoY), Phoenix (-40.9%), Seattle (-40.4%), Oakland (-39.8%), and San Diego (-37.2%).
These happen to be areas that saw massive home price appreciation, then big home price corrections.
It seems homeowners are now staying put in these areas, perhaps as they come to terms with the inability to make a move from a financial standpoint.
Ultimately, the mortgage-rate lock in effect continues to make it both unfavorable and sometimes impossible for existing homeowners to move.
Simply put, selling your home with a 2-3% mortgage rate, only to buy one with a 7% mortgage rate, doesn’t pencil.
And rents aren’t cheap either, so it’s not a viable option to sell and rent for much less.
Active Real Estate Listings Are Falling When They Typically Rise
Meanwhile, active listings (the number of for-sale homes available at any point during the period) declined 4.6% from a year earlier.
This was just the second decline in 12 months, the first being a week earlier when actives fell 1.7%.
Redfin noted that active listings were also down month-to-month at a time of year when they typically rise.
Because of the lack of new listings, the total number of homes on the market fell to its lowest level on record for an early June.
Long story short, there is no housing inventory, which is somewhat good news because there aren’t a lot of buyers either.
As noted, affordability isn’t great with mortgage rates at/near 7% and home prices still historically high.
This explains why the median home sale price was down just 1.6% from a year ago at $379,463.
That represented the smallest decline in the past three months as many markets that were down year-over-year begin to turn things around.
Housing Supply Is Up Slightly from a Year Ago
While new listings and active inventory are down, housing supply inched up a bit from last year.
As of June 4th, supply was at 2.6 months, which is the amount of time it would take to clear inventory at the current sales pace.
But while it’s up 0.5% from a year ago, it’s still well below the 4-5 months that represents a healthy, balanced housing market.
The reason it’s higher is because homes are sitting on the market longer and taking more time to receive offers.
Again, you can blame affordability for this as there are fewer eligible buyers out there. And perhaps fewer who are interested even if they can afford it.
About a third of homes that went under contract received an accepted offer within the first two weeks on the market, down from 38% a year ago.
And homes that sold were on the market for a median 28 days (the shortest span since September), but much longer than the record low 18 days a year earlier.
So it’s clear the housing market isn’t thriving at the moment, but due to a continued lack of inventory, prices remain sticky.
But that could change if mortgage rates remain elevated during the softer part of the calendar year (summer/fall/winter).
Still, the resilience of home prices continues to exceed expectations and defy the housing bears.
Read more: When will the housing market crash again?
All 12 Federal Reserve districts have seen issues with a lack of housing inventory, which is largely due to existing homeowners holding back on listing their homes after previously locking in low mortgage rates.
Demand from the buyer side has remained steady or increased, however, and new home builders have responded to inventory shortages by increasing speculative inventory production, according to the Federal Reserve Beige Book, released Wednesday.
The Beige Book is a compilation of data and interviews with bank and branch directors, community organizations and economists from on or before May 22.
“Residential real estate activity picked up in most Districts despite continued low inventories of homes for sale,” the report states.
The Beige Book also notes that “home prices and rents rose slightly on balance in most Districts, after little growth in the prior period.”
In return, the lack of inventory of homes for sale pushed demand for rental properties in some areas — including New York, Chicago, St. Louis, Kansas City Federal Reserve districts.
Following are excerpts of statements on housing conditions from each of the 12 Federal Reserve districts.
***
Boston – Contacts around the District attribute the still-low sales numbers to low inventories more than to weak demand, as slightly lower mortgage rates have helped bring more buyers to the market.
House price appreciation has slowed on average but remains slightly positive, with the exception that home prices in Massachusetts (not including Boston) have experienced modest declines from a year earlier. The modest price growth in the Boston area marks a trend reversal from the preceding few months.
Contacts anticipate that, despite healthy buyer demand, home sales are likely to experience only a modest seasonal increase moving forward, owing to extremely low inventory levels.
New York – The residential sales market has been strong across the District. A New York City-area contact reports that the sales market in and around New York City has picked up strongly in recent weeks after a brief pause in early April, which was due to uncertainty in the banking sector.
After a slow start to the year, housing markets in upstate New York have also started to pick up, with bidding wars and multiple offers becoming more common. Inventory remains exceptionally low and is restraining sales activity in much of the District. A key factor suppressing new listings is the prevalence of homeowners with historically low interest rates on their existing mortgages, reducing the incentive to sell and move.
A strong economy and relatively high mortgage rates have pushed some movers to the rental market, boosting demand.
Philadelphia – High interest rates have continued to dissuade existing homeowners from listing their house and losing their low interest rate. Existing home sales have fallen moderately in this district, and prices have continued to rise as the market heats up again. New home builders have benefited from the unseasonably modest sales of existing homes as the resale market has slowed.
Cleveland – Demand for residential construction and real estate has stabilized in this District, and contacts attribute this stabilization to the arrival of spring and flattening interest rates.
Homebuilders have reported an increase in speculative construction projects in this District, as many buyers want to purchase and move into homes immediately, in part to avoid further rises in interest rates.
Richmond – Residential real estate respondents indicate in the report that the spring market is off to a good start, with sales prices continuing to appreciate, but not at the same pace as last year. For-sale inventory remains constrained due to fewer people putting their homes on the market, but buyer traffic has been steady while the days on market has increased slightly in the last month.
However, fluctuations in mortgage rates have caused buyers to pull back, with pending sales and closed sales both down in this District. Builders have been offering strong incentives to close deals.
Atlanta – Housing demand throughout the District has remained strong despite interest rate and home price volatility. Though home sales are down compared to a year ago, sales in many markets in this District have increased on a monthly basis, as buyer sentiment has modestly improved.
The supply of existing homes for sale has remained low as homeowners have showed increased hesitancy to list homes for sale, especially if they financed at a low interest rate. Home prices remain down from peak levels but have recently shown month-to-month improvement.
New home builders have responded to inventory shortages by increasing speculative inventory production, and some have begun to reduce buyer incentives.
Chicago – Residential construction activity has been down modestly in this District. Contacts report that high-interest rates have led some projects to be postponed or canceled and that while construction costs had fallen, the decline isn’t enough to offset higher financing costs.
Residential real estate activity has decreased modestly as well. Prices and rents have declined, and the low inventory of homes for sale has helped to prevent larger declines.
However, there have been reports of rising retail rents in some areas because of a lack of high-quality new construction.
St. Louis – Rental rates for residential real estate have increased slightly in this District. The number of new listings in residential real estate have dropped sharply in Louisville since our previous report, while new listings in the Memphis and Little Rock regions have remained unchanged. Seasonally adjusted home sales have remained unchanged since the previous report.
Minneapolis – Residential construction has remained subdued. Single-family permitting in April was more than 40 percent lower year over year in the Minneapolis-St. Paul region; most other large markets in the District saw even bigger declines. Discounts have started to appear for some speculative developments.
Closed (residential real estate) sales in April fell notably year over year across the District, with many larger markets seeing declines of 30 to 50 percent. Median sale prices have declined in western and central Montana and have been flat in several other markets.
Kansas City – Housing rental rate growth has remained elevated in several western District states, but the pace of increases has declined broadly and swiftly from the growth rate experienced during the past year.
Dallas – Housing demand broadly has held up in the Dallas District, though sales have continued to be weaker than a year ago. Contacts have noted a decent spring selling season, with prices largely stable, and builders have been able to raise prices slightly in selected areas.
Outlooks have been cautious, however, with some voicing concern about whether demand would hold up beyond the spring selling season.
San Francisco – Activity in residential real estate has slowed further in this District. Contacts across the District have reported stable demand for single-family homes, although high mortgage rates have restrained prices. Existing single-family inventory has been low, and owners appeared hesitant to forego their existing low-rate mortgages by listing their homes.
Despite reported improvement in the availability and cost of materials, construction of new homes has been flat-to-down as developers responded to higher financing costs.