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