THE FACTOR. THIS NEWSCAST
HAS BEEN BROUGHT TO YOU BY
JIM ADLER IN ASSOCIATES.
WELCOME BACK TO THE FACTOR
ON CENSORED. THE HOUSING
MARKET IS CRAZY. YOU'VE
HEARD THAT PLENTY. THIS
YEAR, THE COST TO BUY A
HOUSE HAS SKYROCKETED AND SO
HAS A COST OF RENTING ONE.
BUT IS THERE ANY RELIEF IN
SIGHT AS WE CLOSE OUT 2021.
WE GATHERED A FEW EXPERTS.
AND OUR GUESTS ARE HERE ON
THE FACTOR ON SENSOR TONIGHT
TO TALK ABOUT 2021. WHEN IT
MARKET. IT WAS CRAZY IN
HOUSTON AND AROUND THE
COUNTRY. JOINING US TO TALK
ABOUT THIS IS REALLY EVEN
WHO'S ALSO A REAL ESTATE
AGENT. WE HAVE MITCH
GUILLORY AND GARLAND
BENNETT. SO MICHELLE, LET'S
BEGIN WITH YOU. IT WAS A
CRAZY YEAR IN REAL ESTATE,
AND I THINK THEY WOULD CALL
IT A SELLER'S MARKET RIGHT
OR A BUYER'S MARKET RIGHT
NOW. OH NO, NO, NO. THE
SELLER'S MARKET FOR SURE WE
DIDN'T HAVE ENOUGH INVENTORY
SELLERS RULED. WHAT HAPPENED
HERE WAS INVENTORY,
ACCORDING TO THE LATEST DATA
FROM THE HOUSTON ASSOCIATION
OF REALTORS SHOWS THAT WE
ONLY HAVE AS OF NOVEMBER 1.6
MONTHS OF INVENTORY, MEANING
IF WE STOPPED PUTTING NEW
HOMES ON THE MARKET TO BUY
AND EVERYTHING STAYED THE
SAME WITH PRICING WILL BE
OUT IN 1.6 MONTHS GONE, SO
THAT'S WHERE WE ARE AS OF
NOVEMBER. WHAT'S EVEN WORSE
IS THE HIGH FOR THIS YEAR
WAS SET IN AUGUST AT 1.8
MONTHS OF INVENTORY. THAT
OUGHT TO TELL YOU SOMETHING.
WE DON'T HAVE ANY HOMES
BOTH SO, GARLAND, I ALWAYS
SEE YOU ON SOCIAL MEDIA.
YOU'RE ALWAYS GETTING A
FAMILY INTO HER HOUSE. WERE
YOU FINDING THESE HOUSES?
WELL I MEAN, THE THING IS AS
MUCH STATED. I MEAN, EVEN
THOUGH INVENTORY IS LOW. YOU
KNOW, IT'S A LOT OF BIDDING
WARS. SO YOU HAVE TO, YOU
KNOW, GET TO A POINT WHERE
YOU HAVE TO STUDY THE MARKET
TO UNDERSTANDING STRATEGIZE
ON HOW TO GET THOSE FAMILIES
INTO HOMES WHEN IT COMES TO
BIDDING. THE PROPER WAY. SO
IT'S I MEAN, IT'S A LOT OF
HOMES THAT ARE AVAILABLE.
IT'S JUST THAT IF YOUR
CLIENT IS WILLING TO
NEGOTIATE IN REGARDS TO
BIDDING AS HIGH AS THEY CAN. UM WHICH COMES WITH A LOT
OF REPERCUSSIONS. UM, YOU
CAN GET HIM IN A HOME. AND
RUIN A LOT OF PEOPLE BEING
BID OUT OF THE PROCESS WHERE
THEY SIMPLY CAN'T AFFORD TO
GET A HOUSE RIGHT NOW, UM
NOT NECESSARILY THAT THEY
CAN'T AFFORD. SOME PEOPLE
ARE COMING OUT OF THEIR
COMFORT ZONE. AND YOU KNOW
THEY'RE THEY'RE LOOKING AT
IT FROM 2019. AND PRIOR
WHERE HEY, I CAN GET INTO A
HOUSE FOR 5% BELOW THE
ASKING PRICE. WHY AM I
HAVING TO PUT AN OFFER IN
FOR 10 15 20% HIGHER OR
CRAZIER AMOUNTS AND THEY
CAN'T GET OVER THAT MINDSET
UNTIL THEY LOSE A FEW DEALS.
AND THEN THEY'RE LIKE, OH,
MY GOSH. I SEE I UNDERSTAND
WHAT THE MARKET IS LIKE
RIGHT NOW. AND WE'RE HAVING
TO GO IN ALL KINDS OF
DIFFERENT PLACES TO LOOK FOR
EXAMPLE, ARE GOING CRAZY
BECAUSE INVENTORY IS SO LOW
AND I'M I'M ACTUALLY AT A
NEW HOME RIGHT NOW SHOWING A
CLIENT TO HOME BECAUSE. WE
CAN'T FIND A RESELLING IN
ANYWHERE IN THE MARKET THAT
SHE WANTED TO BE IN. HOW
DIFFICULT AND FRUSTRATING
ISN'T FOR YOUR CLIENTS OUT
THEIR MISSION. I KNOW YOU'RE
AN EDUCATOR NOW IN THE
INDUSTRY, BUT FOR THOSE WHO
ARE LOOKING FOR HOMES, HOW
FRUSTRATING IS IT FOR THEM,
TOO? HAVE TO MEET THE NEW
DEMANDS OF HIGHER PRICES
THAT 10% INCREASE. HOW
FRUSTRATING IS IT FOR THEM?
YOU KNOW WHAT IS FRUSTRATING
. IT SHOULD BE FRUSTRATING
BECAUSE IF THEY'VE GOT A
GREAT REAL TOUR LIKE GARLAND
OR RUI, WHO I KNOW HIM, TOLD
THEM, THIS IS WHAT THE
STRATEGY IS GOING IN, AND
THEY DIDN'T LISTEN TO THE
STRATEGY. AND AS RUI JUST
SAID, YOU LOSE A FEW HOMES,
ESPECIALLY THE ONE THAT FITS
ALL OF YOUR WANTS AND NEEDS
. IT'S GOING TO HURT BECAUSE
PURCHASING WILL EVER. JUST
BE LIKE THE ONE THAT GOT
AWAY, SO IT IS FRUSTRATING
AND YOU'RE GOING TO HAVE TO
MAKE CONCESSIONS. IF YOU
WANT THE HOME YOU WANT.
YOU'RE ALSO GOING TO NEED TO
COMPETE WITH PEOPLE COMING
IN FROM OUTSIDE OF HOUSTON
AND OUTSIDE OF TEXAS. THERE
ARE PEOPLE COMING IN WITH
CASH MONEY OR WAIVING
APPRAISALS WHO ARE SAYING,
LISTEN, FORGET THAT I'M
READY TO GO. WE'RE
REGARDLESS OF HOW THIS THING
APPRAISES. I WANT THAT HOUSE
PEOPLE FROM CALIFORNIA WITH
ALL THAT MONEY TO SPIT
COMING ON AND SAYING, LET'S
DO THIS. I MEAN, YOU GOT TO
HAVE THIS MENTALITY OF LET'S
DO THIS. AND WHAT DO WE
FORECAST? WHAT ARE WE
LOOKING AT? IN 2022? WILL
THINGS IMPROVE IN ALL MISH
FOR THE BUYERS NOT REALLY
KNOW WHAT WE'RE STILL
WAITING TO SEE IN GARLAND
CAN ATTEST TO THIS IS WE'RE
EVEN WAITING THAT FOR
BUILDERS TO CATCH UP, THE
DEMAND IS HIGH. THE SUPPLY
IS LOW, AND THEY HAVE
BACKLOGS IN CERTAIN HIGH
DEMAND AREAS LIKE SUGAR
LAND, FOR EXAMPLE. IN WHAT
WE ARE ALSO SEEING IS THAT
LOW DEMAND OR EXCUSE ME. LOW
SUPPLY IS A RESULT OF WHAT
HAPPENED DURING WINTER STORM
YURI. A LOT OF HOMES GOT
PULLED OFF THE MARKET
BECAUSE THEY GOT DAMAGED
THEN. THESE PEOPLE WHO
PULLED THOSE HOMES OFF THE
MARKET SAID WHOA, WAIT A
MINUTE. THERE'S A DEMAND OUT
THERE. LET ME SIT BACK FOR A
SECOND LET THE PRICES GO
HIGHER BECAUSE PEOPLE ARE
COMPETING, AND THEN I'LL GO
AHEAD AND SET MY HOME BACK
ON THE MARKET. THERE'S A LOT
OF BUSH BALL AND I'M NOT
QUICKLY IN 2022. FOR THE
BUYER. THEY ADDED THAT
RENTAL PRICES UP ABSOLUTELY
BEEN IMPACTED AND RAISED
BECAUSE OF THE REAL ESTATE
MARKET. SO IF YOUR APARTMENT
OR RIENDEAU HOME HAS
CITY IS MY. WELCOME BACK TO
THE FACTOR ON SINCE IT. IS
THERE ANY RELIEF IN SIGHT
FOR 2022 WHEN IT COMES TO
THE REAL ESTATE MARKET
EXPERTS BEING AGAIN AND
GARLAND WHAT'S YOUR
PREDICTION FOR 2022 STILL
BLEEDS FOR THE BUYER. WELL
HONESTLY, I MEAN, JUST TO
KIND OF GO BACK OFF FOR MRS
MISSTATED COUPLE I SAY.
ABOUT FOUR YEARS AGO, WE
REPEATED THE SAME CYCLE. NOT
AS AGGRESSIVE, BUT WE
REPEATED THE SAME SOCCER
WITH LOW INVENTORY AND HEIDI
MAN. AND WE'RE IN THE SAME
POSITION IN THIS CASE WHEN
IT COMES TO ACHIEVE
MENTIONED EARLIER REGARDING
WAIVING APPRAISALS. HONESTLY
I CAN'T WAIT TO THAT PART IS
OVER WITH, BECAUSE THERE'S A
LOT OF UNETHICAL PRACTICES
THAT'S HAPPENING. SO FAST
FORWARDING. WHAT I'M SEEING
IS THAT IT'S GOING TO FORCE
OF FORECLOSURE AND SHORT
SALE HARDSHIP FOR A LOT OF,
UH SELLERS AND BUYERS.
THAT'S BUYING RIGHT NOW
BECAUSE MOST PEOPLE THAT ARE
OVER PAYING FOR PROPERTIES
IT'S GONNA PUT THEM IN A BAD
POSITION OF NOT PROBABLY
BEING ABLE TO SELL LATER. OR
THIS MARKET TAKES A DIVE AND
RUIN WHAT DO YOU ANTICIPATE
IN 2022 2022? SO I
ANTICIPATED TO BE EXACTLY
THE WAY IT IS RIGHT NOW, IF
NOT A LITTLE BIT CRAZIER TO
TELL YOU THE TRUTH, BECAUSE
HERE'S ONE THING A GOOD
CHUNK OF OUR SHORTAGE OF
HOMES AVAILABLE TO SELL WAS
ALSO BECAUSE OF THE
PANDEMIC. MANY PEOPLE DIDN'T
WANT THOSE INDIVIDUALS WHO
COME INTO THEIR HOME THAT
MAY OR MAY NOT BE VACCINATED
. CLINTON WHAT THOSE PEOPLE
ARE GOING TO OPEN UP
EVERYTHING AT THEIR HOMES A
LOT MORE. NOW WE'RE GOING TO
SEE A LOT MORE THAN BUYERS
GOING TO BE OUT THERE.
BIDDING ON THE BIDDING ON
THE HOMES AND WINNING A LOT
OF THOSE BITS BECAUSE THE
INVENTORY IS GOING TO GO UP
, AND I KNOW IT'S GOING TO
GO UP A LITTLE BIT. IT HAS
TO BUT I STILL SEE THE
MARKET BEING AS HOT AS IT IS
RIGHT NOW AND AS CRAZY AS IT
ADDED THAT HE WORRIES THERE
WILL BE UNETHICAL PRACTICES
THAT COME TO LIGHT AND THAT