John Angell Real Estate Group – Page 4 – John Angell

Vague Specifics – May 2020

I’m not super math-oriented by nature, but I really lean on MLS statistics. April’s report is going to be very telling about how COVID-19 affected the real estate market. I have to say it wasn’t as bad as I thought in some ways, and worse in others, but from a homeowner’s standpoint there’s definitely a silver lining. Sales from April 2019 for single family homes have diminished 16% and 34% for condos and townhomes. What that tells me is condo and townhome buyers are considerably more vulnerable to the shutdown than single-family buyers, and there may be more whimsical buyers that don’t necessarily have to buy.

“But John, you roguishly handsome, yet sophisticated man-about-town”, I hear you ask, “is this this the beginning of a market correction?”. Unfortunately for the average buyer, it is probably not. While sales are down considerably, listing inventory is down even more. The Wall Street Journal even wrote an article on the diminished supply keeping prices moving upward, albeit at a slower pace. Where we may see a correction is in the mid-level new construction around the periphery of the Metroplex, where builders are anxious to finish out inventory. But inside the loop I just don’t see prices below $1 million being a thing. Make no mistake, it is a buyer’s market over $2 million, and far more friendly for them from $1-2 million, but the average homebuyer isn’t going to get to enjoy much more than normal besides record low interest rates.

I feel like a broken record saying this, but I do sincerely mean it, please feel free to reach out to me with any questions. This has been a black swan event, and I can’t predict the future (yet), but I’m doing my best to keep my finger on the pulse of all local markets. I’m just glad there’s a light at the end of the tunnel, and businesses are starting to open back up.

The Tipi – April 2020

The tipi was a essentially mobile tent, and was critical to the migratory nature of Native Americans. It was more or less a tripod wrapped in animal skins, although the Blackfoot Indians used 4 poles instead of 3.

Typically 12-25 feet tall, these structures featured a smoke flap at the top where the poles converged, and a fire pit in the center for cooking and heating. They could be easily collapsed for fast transportation (if dragging is considered fast). The tipi did a great job keeping occupants cool in the summer and warm in the winter, and there was a surprising amount of variety in terms of features.

Most tipis were not decorated, the few exceptions were painted on the outside, depicting historical battles, hunting expeditions, and visions.

Making a Home-Made Face Mask – April 2020

Making a Homemade Face Mask

A month ago, we would have laughed at the notion of making a home-made face masks, but here we are. It’s hard to tell what the future holds, but it looks like face masks are going to be a sad reality moving forward… at least for the foreseeable future.

Ideally you would use an N95 mask, which filters almost all airborne particles, but they’re in short supply to the public and they get pricey. You can make the next best thing, a home-made mask.

Materials to Use

It should be noted here, that The Kiss Method (Keep It Simple, Stupid) applies when making a face mask. A 600-thread count pillowcase or flannel pajamas will give you around 60% protection, which is certainly better than nothing. If you have access to quilter’s cotton (I had to look that up, it’s 100% cotton used in quilting), you’ll receive roughly 80% protection. In a pinch US Surgeon General Jerome Adams states you can use an old scarf, bandanna, hand towel or even a t-shirt.

Important Features For Your Mask

According to the CDC, your mask should:

– Fit snugly but comfortably against the side of your face

– Be secured by ties or ear loops

– Include multiple layers of fabric

– Allow for breathing without restriction (so you don’t die from suffocation…)

– Machine wash and dry-able without damage or deformity

Make It Fun!

No sew masks mean that the kids can join in making these face masks! Make it a family fun craft night. For step-by-step instructions on various ways to make your own NO SEW face masks, Click Here.

February 2020 MLS Statistics

Vague Specifics – March 2020

(Note: this is the 5th time I’ve revised this in the last 2 weeks. Our situation continues to change…) Last fall, we were given a 50% chance of seeing a short, 1-2 quarter period of economic contraction (consecutive quarters fitting the qualifications of a recession). Economists who suggested this didn’t know what would cause it, they just knew we were way overdue for some national/global event that would ultimately lead to people not engaging in normal commerce. I used to tell prospects that if the Dallas real estate market “adjusted”, then we’d have a lot more to worry about than the Dallas real estate market. I hate being right sometimes.

The next couple of months are going to be rough for real estate statistics. As of March 31st, real estate agents are not on the list of essential services, meaning we’re not supposed to show houses. There’s a good chance that will be lifted, because despite the necessity to quarantine, it turns out people still need to find somewhere to live, especially if their rent is expiring. All other real estate services (title companies, inspectors, appraisers, contractors) are allowed to function under social distancing guidelines.

The last 5 months were pretty terrific for the market, but that will be coming to an end soon. Look for March and April to be as slow as we’ve ever seen. In fact, I’m going to be very reluctant to ever look at NTREIS statistics for this time. People are still buying and selling, there’s no doubt about that, and virtual tours are going really rising to prominence all-of-a-sudden.

America’s financial markets are still very solid, but the longer we go on lock down, the more that’s going to be curbed. It’s a black swan event we’re experiencing, and I firmly believe we’ll recover from this far faster than the Great Recession, but the longer we stay shut down, the weaker the recovery, so let’s hope we get more solid data and are able to move from a China-style lockdown to a Japan-style social distancing and quarantining.

We’re going to be okay, everyone. Stay safe.