3 Trends Driving Hyperactivity in the Real Estate Market Nationally

Despite the economic uncertainties that surround the pandemic, one fact has become crystal clear: Americans are ready to buy a new home. We have low inventory, bidding wars, and record-low mortgage rates, all of which are giving consumers a new sense of FOMO—fear of missing out—and creating a red-hot housing market.

Ali Wolf, chief economist for real estate analytics company Zonda, said Thursday during the National Association of REALTORS®’ virtual Real Estate Forecast Summit,“ To our surprise, the housing market has not only recovered but roared past pre-pandemic levels,” added NAR  Chief Economist Lawrence Yun, who presented a consensus real estate forecast based on a survey of 30 leading economists. The numbers and facts in this post (until the last sentence) are National, not Southern Nevada.

For some Americans, soaring home equity and gains in the stock market are padding the financial impact of a pandemic-fueled recession. Pending home sales are up 20% from a year ago, buyer traffic is up 32%, and mortgage applications are up 27%—all indicators that this winter may be the best ever for the housing market, Yun said. Mortgage rates also remain at record lows. The 30-year fixed-rate mortgage averaged 2.71% for the week ending Dec. 10, according to Freddie Mac.

Sellers, Builders May Ease Inventory Crunch

Inventory remains constrained as buyer demand surges. Potential sellers who are hesitant to list their home during a pandemic may not be aware of the housing market’s strength, said Danielle Hale, chief economist for realtor.com®. Sellers are often buyers, too, and they may not want to face the challenge of finding a home amid low inventory. These realities have limited the number of homes on the market during the pandemic, panelists said.

Why can’t builders construct more housing to meet demand? Labor shortages and escalating prices for building materials maybe holding back many builders, with 80% saying they had to raise their new-home prices last month due to higher expenses, according to Zonda research. Further, most new-home construction in recent years has occurred near expensive urban cores.

Now that more buyers want to live farther from the city, builders are snatching up land in far suburbs and exurbs, said John Burns, CEO of John Burns Real Estate Consulting. Builder sentiment indexes are running at record highs, Burns said. “Builders have never been more optimistic, so we’ll see more construction—but it’s still going to take a while.”

Suburbs Grow, But Cities Aren’t Dead

While the suburbs are in a growth phase, not all buyers are giving up on city living. “The popularity of the suburbs is real, however [the housing market] is not reflecting a full-fledged urban flight either,” Hale said. “Real estate is booming everywhere. The suburbs have bounced back relatively quicker than the urban areas nationwide.”

The suburbs were growing before the pandemic as millennials started migrating away from cities to form households. That trend has only accelerated, Wolf said. “The work-from-home environment has really fueled the ability for more people to migrate,” she said. “Home has become a focal point” as people hunker down during the pandemic.

Demand from investors also is surging, panelists said. Build-for-rent subdivisions are popping up as investors see a growing appetite from renters for single-family homes. Investor groups also are crowdsourcing funds to buy properties together, and home flippers are reemerging to turn around fixer-uppers for a quick profit, Burns said.

Assistance Programs Boost Affordability

Low mortgage rates can help buyers offset higher home prices, but not when prices are soaring into double-digit annual increases like they are now. First-time buyers are particularly in danger of being priced out of the market. “Affordability is going to be a key challenge in 2021 for first-time buyers,” Hale said.

Wolf added that education on down payment assistance programs will help would-be buyers find a purchase path amid higher prices. One positive sign: 60% of millennials are saving more money this year than last year despite the economic downturn, according to Zonda research. Millennials also say part of their increased savings will go toward a down payment.

As for the Las Vegas Valley, inventory is pretty tight in most categories (except luxury, and high-rises) so, for most, it is an amazing time to be a seller!

Do you have a need for commercial / industrial / retail buildings or land? Are you ready to buy or sell a home? We can help you with that, safely… just call us at 702 SELL NOW or click on this link to my website http://www.702SellNow.com

Choose to have an amazing day…. Jeff

Recycling Wrapping Paper

recyclable gift wrapping paper

Is wrapping paper recyclable? Some is, however some isn’t.  The following might be able to help you how to make greener gift wrap choices.

Wrapping paper may have “paper” in its name, but that doesn’t automatically mean it can be recycled. Some types of wrapping paper can be, but many cannot, due to additives such as glitter and metallic finishes. We’ll help you sort out what goes where and help you find greener and reusable holiday wrappings.

What Kind of Wrapping Paper Is Recyclable?

Wrapping paper can usually be recycled if it is plain and simple, non-laminated, made from recycled materials, and is not too thin. When the paper is very thin, it has only a few good quality fibers for recycling.

Wrapping paper cannot be recycled if it contains sparkles, glitter, sequins, foil, artificial texture, sticky gift labels, or plastic. It also cannot be recycled if it has been laminated or has loads of leftover tape, ribbons, or bows still attached. 

recyclable gift paper

Do a Scrunch Test

To confirm that wrapping paper is recyclable, you can do a “scrunch test” by squeezing it into a ball. If it keeps the ball shape, then it can be recycled. If it springs back to a flat form, then it cannot. 

How to Recycle Wrapping Paper

Make sure that all ribbons, gift tags, tape, and other decorative or outside elements have been removed from the wrapping paper before you put it in the recycling bin. Having a mix of recyclable and non-recyclable papers is a real problem for recycling facilities, and they often end up tossing the entire lot because they cannot sort it out themselves. (This is known as wishcycling and it causes tremendous problems year-round with all sorts of materials, not just wrapping paper.)

(In case you missed it, here is a post I did about a year ago called “11 Things You Should Not Recycle”)

Try to find out if your town, city, or municipality accepts wrapping paper, because even if the paper is recyclable, whether it happens depends on each region’s regulations.  If you live in Southern Nevada you should check with Republic Services website www.republicservices.com .  I do have a couple of suggestions from their web site: When giving holiday gifts, commit to reusing laminated bags and recycling those made of paper.

Shipping gifts? Make shredded paper out of old newspapers and be sure to reuse last year’s bubble wrap and Styrofoam peanuts.

After opening gifts, remember to recycle the wrapping paper – but save and reuse the ribbons and bows.

recyclable gift bags

How to Reduce Gift Wrap Waste

Try these suggestions for cutting down the amount of wrapping paper you throw away.

Reuse What You Have

Wrapping paper has such a brief life span that it can be reused many times, especially if care is taken to unwrap it without tearing. It’s estimated that the U.S. produces 4.6 million pounds of wrapping paper annually, and 2.3 million pounds of that ends up in the trash. The remainder stays in people’s homes, awaiting reuse. I love this idea!

Use Different Material

Who says you have to choose glittery paper to decorate a present? Opt for basic brown Kraft paper that can be spruced up with a bow, ribbons, leaves, pinecones, or markers. Repurpose newspaper, old posters, and children’s school artwork as wrapping paper. Plus there are plenty of other eco-friendly alternatives to wrapping paper that are just delightful and celebratory.

Try Zero Waste

Use baskets, fabric, gift boxes or bags, tea towels, and more to conceal and reveal your presents.  Use pretty knots to fasten colorful, reusable fabrics in attractive ways. This way, you’ll have no wrapping paper waste to contend with.

Ask for Better Paper

Retailers stock what customers want, and recyclability should be a top priority, so let that be known when you’re out shopping. As explained by Simon Ellin, CEO of the Recycling Association, a trade body that represents about 90 waste management companies and paper merchants in the United Kingdom, “It’s a crusade we’ve been on all year – do you really need to design a non-paper wrapping paper? Make paper with recycling in mind!” Shop with that in mind, too.

Do you have a need for commercial / industrial / retail buildings or land? Are you ready to buy or sell a home? We can help you with that, safely… just call us at 702 SELL NOW or click on this link to my website http://www.702SellNow.com

Choose to have an amazing day…. Jeff

Twelve Dates of Christmas – Streaming!

If you’re like me, you wish we could go to the theatre… and since we still can’t, Super Summer Theatre is doing the next best thing this weekend, with a holiday theme. They will be presenting a virtual show streaming performances on

Friday, December 11 @ 7:30 PM PST

Saturday, December 12 @ 2:00 PM PST

Saturday, December 12 @ 7:30 PM PST

Sunday, December 13 @ 2:00 PM PST

The Play:  How bad can the Holidays be?  After seeing her fiancé kiss another woman at the televised Thanksgiving Day Parade, Mary’s life falls apart — just in time for the holidays. Over the next year, she stumbles back into the dating world, where “romance” ranges from weird and creepy to absurd and comical. It seems nothing can help Mary’s growing cynicism, until the charm and innocence of a five-year-old boy unexpectedly brings a new outlook on life and love. This heartwarming one-woman play offers a hilarious and modern alternative to the old standards of the holiday season.

This play was written by Ginna Hoben and directed by Joe Hynes and filmed by Doug Greig.

Tickets will only cost $18.95 per household and will be Streamed through Broadway On Demand (and by the way the Stream will open up 30 minutes before the performance)

To get tickets go to https://supersummertheatre.org/12dates/

Do you have a need for commercial / industrial / retail buildings or land? Are you ready to buy or sell a home? We can help you with that, safely… just call us at 702 SELL NOW or click on this link to my website http://www.702SellNow.com

Choose to have an amazing day…. Jeff