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American Family Funding – Expert Update – August 20, 2021

American Family Funding – Expert Update – August 20, 2021
August 20, 2021 abryant
 

 August 20, 2021

  • I don’t snore…I just dream I’m on a motorcycle.
  • One nice thing about being over 40…we did not have phones that could take pictures of all the dumb stuff we did.
  • I finally figured out what I want to be when I get older…..Younger!
  • I still don’t understand what a wine stopper is for…

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Quick takeaways:

  • Beat the end of summer blues and bring in new leads.
  • Virtual staging is the wave of the future in home buying.
  • Builders are limiting sales due to booming demand for new homes.
  • Rebranding can do a lot of good for your real estate business.

Read on for our coverage.

Quick Tips to Boost Slowing Summer Sales

If the end of summer has you in a funk, here are five simple steps to get leads flowing again. First off is visuals, visuals, visuals. Use social media to your advantage by featuring recent sales and new deals. Optimize referrals and engagement by tagging all parties involved. Next, contact local real estate developers to learn about upcoming projects or pitch yourself as their listing agent.

A final marketing tip is purchasing targeted ads. How you promote your business will differ based on your target demographic. Gen Z is on social media buying from influencers, so if they are your target audience, set up those targeted ads today.1

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Virtual Staging is Making its Mark in Home Sales

Staging is vital in that it helps to capture a buyer’s attention quickly. Even as the pandemic replaced physical staging with virtual, hit rates and sales remained high. The most critical factor for buyers was the picture quality not whether the staging was real or virtual.

When evaluating the two approaches side-by-side, it’s hard to tell the difference. In addition, virtual staging is more cost-effective, faster to set up, and allows for more flexibility. That said, when given a choice, buyers still prefer the experience of walking into a showroom to touch and feel the furniture. However, in the current market where homes are going fast and COVID restrictions fluctuate, buyers are happily accepting either option.2

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New Homebuilders, Pausing Home Sales Causing Prices to Soar

Due to the boom in demand, homebuilders are starting to limit sales and increase prices. Some builders are even waiting until homes are built or partially built before selling. Last year, it would be unheard of to have buyers walk into model homes just to hear that none were available to purchase. According to the Commerce Department, the median price of a new build was $361,800 in June, up over 6% from last year.3

Put the Flair Back in Your Real Estate Brand

With competition being so fierce, building your real estate brand is more important than ever. Here are five ways to stay ahead of the crowd in a booming market.5

  1. Define what you stand for with a mission statement. Highlight your brand beliefs, strengths, services, and niche.
  2. Give your brand colors and logo a boost with a quick redesign.
  3. Update your website and blog.
  4. Separate yourself from the competition by highlighting your specialties.
  5. If you decide to rebrand, leverage social media to build excitement with teasers and images.

Next weeks potential market moving reports are:

  • Monday, August 23rd – Existing Home Sales
  • Tuesday, August 24th – New Home Sales
  • Wednesday, August 25th – No Report
  • Thursday, August 26th – Initial Jobless Claims, Continuing Jobless Claims
  • Friday, August 27th – Consumer Spending, Core PCE Price Index, Consumer Sentiment Index

 

As your mortgage and real estate professional, I am happy to assist you with any information you may need regarding mortgage or real estate trends.  I welcome the opportunity to serve you in any way I possibly can. Please feel free to reach me at (661)-505-4300.

 

Santa Clarita mortgages lender American Family Funding can help you fulfill your dream of home ownership. A highly rated Santa Clarita mortgages lender, American Family Funding maintains a focus on community involvement and a commitment to giving back whenever possible. A friendly mortgage advisor will make the first time homebuyer experience an easy and stress-free experience — even with bad credit or a low down payment. The Santa Clarita home loan officers at American Family Funding also specialize in VA loans, reverse mortgages, refinancing and the STAR Loan Program.