Hottest Real Estate Markets 2021 – How long will Texas have a Hot Real Estate Market
Hot real estate market – The number one question everybody is asking right now is how long will the real estate market stay high? Question mark, BOEM hit it there, that’s Shana Acquisto, she’s a luxury real estate broker. She knows what she’s doing. She’s talking about all types of things. She travels the country all the time with clients for real estate, single family home, specific things. And I know a thing or two, but like not too many, just like, yes, maybe two things. And what we’re going to do is talk about how long it’s going to stay hot. All right. We’re going to talk about how many years our developers still buying land.
We’re going to talk about builders. Are they still building? We’re going to talk about new homes. Are there tons in waiting? Like what’s going on? Are there still people lining up for them? Pent up demand? We’re going to discuss that. And we’re going to talk about shortages in inventories and things backing up and like what is going on? Maybe millennials will throw them into the mix, too, because it’s always good to throw a millennial into the mix, rinse it around and see what comes out the other end.
But most likely they’ll still be at home at the end of the day. So. It’s a real thing. OK. All right, Shana, let’s go ahead and first start with question number one. Our developer is still buying land for the hottest real estate markets 2021. Yes, they are. They are perfect. And actually, developer properties are going into like multiple offers and getting bid up even more than they normally would. Right. So we’ve we’ve seen this we’ve talked insider info with some of our architect friends and engineers. And they say that they see this continuing and they see the trend going on.
So why does this give us great, great hope for the future is because these are projects that are years in the horizon. So these projects are still getting bought up. People are paying more for land than they ever have before because they see what’s going on and there’s a huge demand for the hottest real estate markets 2021. So they know what’s going on and they’re placing bets with real dollars to get these properties secured. So that’s a great sign.
Those are little precursor signs that we look for when you think when is the market going to change?
Yeah, no, totally.
With that happening, we’re still good with that asshole. Like, we we hit the checkbox there. Then we also have the next one, our builder still building for hottest real estate markets 2021. Yes, they are, and builders are still buying the home sites directly from the developers, they’re placing bets as well, and they have a lot of inventory out there that they have pre spoke for.
So going into the pandemic we had, it seemed honestly, if you drove around, it seemed like we had oh, my gosh, there’s a lot of new development going on for the hottest real estate markets 2021. And you’d look around and you’re like, whoa, there’s a lot of new subdivisions coming in. Are there too many? The answer is no. There’s the demand for it.
Yeah. And because they aren’t able to to build out as fast as they would like, then that just adds time onto it, I believe, because, you know, they have to wait. They’ve already purchased. They’re ready to go. So whenever that time comes that things kind of, you know, they’re able to. And then the next step down. Right.
We talked about developers and we talked about builders and then we talk about new home buyers. So specifically people looking for those. Are they still lining up? Yes. So we said yes. We said yes. And we said yes. Again, this three yeses. That sounds really good. Do you have red shoes on? And you could click them right now because that would be three now. But I could pretend.
Ok, so Shana with three, she says that those are three amazing answers, that people are still lining up to buy brand new homes and builders are still doing some of the things right. Builders feel extremely confident and bullish about the hottest real estate markets 2021. And they’re like, whatever you realtors, we don’t even need you. We’re not going to pay you. And we’re taking the list and we’re writing names down of which builders are doing those types of things. We are.
So we already know that’s going on and there’s a huge demand for it. And people like fighting over properties and they’re willing to pay way above price and all of that still. And then we have to throw millennials into the mix because no good conversation is good without talking about millennials, probably the most horrible thing I know it could be like a trigger word, like we can’t say it. And yet I think it’s Right.
So there are certain words and real estate. So maybe maybe they want to be called something else or referred to it as that. But anyways, generation. Yeah, whatever their new generation of workforce members that are still currently living at home. So think about the pandemic, what it is, it took all these different people, you know, had them stay home for a longer than they should have. And they started to save some money. And I’ve heard many different stories about the younger generation of workforce members that are still living at home. But they started to excel.
And then what they did is they built up money and had savings and they were like, whoa. So now it’s my time to go ahead and buy and do something we’re speaking for. And they had all this saved money. Right. And they’re totally ready. But the hottest real estate markets 2021 so red hot that they’re not able to compete. So they have a down payment, five, 10, 20 percent. But that’s not enough in today’s market. So now they have this cash that they had been saving for a deposit or a down payment.
Right. And then and lending market two, three years ago. No problem. We’ve been able to be in a perfect, pretty much any time, but now they can. Mm hmm. So now that these people have this money and there’s an extra pent up demand with them, too, they’re like waiting on the sidelines because they’re like, wait a minute, it’s not my time right now.
I need to let all these other people go ahead first because they’re more qualified than I am and they’re willing to overpaying whatever that is. And I have to wait. So now we have these younger generational workforce members just waiting pent up demand, they’re living at home even longer and then there’s a shortage in inventory because they can’t put stuff out,Can’t get it out there. It’s like a war zone and no one wants to move. And there’s all these different things.
So how long is it going to continue? That was the key question that we asked in the beginning. And you have your crystal ball. Are you going to show it off?
Um, well, I…No, no, she’s not the actual crystal ball, but I will reveal the results that I personally feel. So this is my
Let’s raise our hand for how many years? How many years? We haven’t talked about this, OK? All right. How many years were I think you can raise up.
Sure. Go ahead. Ready? One, two, three. Whoa, you think it’s going to be five years? Well, I think it’s two years before we have anything that’s a major problem in the least. And my poor not prognostication, prognostication, prognostication is that we have a two year run. So it’s currently twenty, twenty one. I’m saying that 2023 is the first time that you kind of have to have any chink in the armor or any questions related to that.
Hottest real estate markets 2021 and I would go with the end of the summer. So sometime around like September is when I would look. So that’s my kind of key date to to go out to. I don’t see things going up like 20 percent a year for that long, but I do think we have at least a 10 percent growth per year here locally for those next two years.
And I think we’ll be up 20 percent when we get to this above what we currently are at the very least, and September of twenty, twenty three. So that’s my next key date on the horizon for us. As long as with the caveat that we keep interest, we keep inflation interest rates at bay. And then but that’s my tease.
And when I say five years, I’m not talking about. A 20 percent, 10 to 20 percent increase every year talking about before things kind of stabilize is what I was talking about. Yeah, it’s going to take a long time.
It’s going to stay hottest real estate markets 2021 and we may have some things happen. We had Koven happen. I’m sorry. We had the pandemic. Happen and we see what happened there, so I don’t know. That’s my thought. Five years and then things go, oh
Yeah, it’s going to take a while. We have shortages of all types of things.
I mean, why would they?
We talk about shortages in cars with the chips. We talk about shortages with things like all these rare earth minerals that go into batteries. So we have all those things going on. We have shortages for for lumber, obviously, steel, roofing materials, plywood is a problem. There’s all these supply chains that are backed up. Did you hear a Home Depot ad to buy their own ship? I did not hear.
Yeah, they bought their own ship so that they could ship stuff over from Magin and they’re starting to fly in certain items because they were so behind and they could now be times that’s not going to raise the cost. Yeah. So costs go up a little bit because of that. They were flying in different tools and fasteners and stuff like that. Anyways, high margin items they were actually shipping. I mean,
I will tell you guys, you know, we have ducks now, most of you know.
But she’s a mother, Dukkha.
We have ducks and I have had a really hard time getting, you know what, getting supplies for the ducks and for their housing and for, you know, anything related to these ducks, who would have known? It’s not just the things top of our mind as our lumber and steel and things that go into home building. But it’s a shortage across the board. Man, you know, maybe for a six 100th episode, you can be a stand up comedian. Well, it’ll be right here in Frisco Episode 600 when that comes up.