Who are your people?

I’ve heard it said that, if you’re the smartest person in the room, you should go to a different room.

There are some things I DON’T like about this even as I think most of the folks saying this are doing so with tongue in cheek.

What of those people who think less of themselves than others?

Do they think of these smarty pants brainiacs as being arrogant knowitalls who have nothing to learn from them.

How do these less smart people feel now?

In this context, constructive dialogue is far less likely to ensue resulting in “US” and “THEM” and leaving a sparse chance to have the (much more rich) state of “WE”.

Try this – As you tumble through your day, intentionally pay attention to each and every person with whom you interact and presume that whoever comes is the right people. All of these people have shown up for the same reason . . . Whatever theme was stated in the myriad invitations resonated with each person enough to call them to action. Let’s call this: “A passion for this issue or opportunity . . . enough passion that every soul present has purposefully taken personal responsibility to show up and DO SOMETHING about THIS . . . NOW!

To have a say – a voice . . .

I believe every person has an inalienable right to contribute and/or to learn . . . ALWAYS!

To be HEARD . . .

Regardless of perceived smartness.

Strive to be a contributor . . . one of those people whose presence improves the ambiance of the space that is your bubble.

and . . . LET GO!

and LET’S (WE) GO!

We Are Family

Last night, Pareto Realty merged into Engel&Volkers.

We celebrated this union with an evening of meeting, greeting, and celebrating – We simply invited all of the Real Estate Advisors affiliated with both firms, and they came . . . What I witnessed was an amazing display of unconditional acceptance of each other and leaning into welcoming all to our expansion of our respective families into one.

I met many people for the first time and connected with some folks I haven’t seen in YEARS.

This night was full of joy and discovery. Mid-way through the evening, I stepped to the periphery for a moment to take it all in and was emboldened as I heard laughter, many stories being told, and “AHA”s as all of these highly successful Real Estate Sales Advisors made friends and became family spontaneously.

There’s something unique in the Engel&Volkers drinking water – a sweet undercurrent of Mutual trust, respect, and support for each other such that we ALL enjoy higher levels of success and improved quality of life.

I left the party before it was over because I was full with just the right amount of love and self assurance in my heart that I and Neal Clayton’s collaboration to bring these 2 fantastic companies into one is the right and proper thing to do – NOW!

As I was departing, the discussion happening was about the E&V culture of being family from the top to the newly joined.

I’m still smiling and chomping at the bit to get adept with all of the mind-blowing resources available to every E&V Advisor.

PS – We fully intend to grow the Engel & Volkers presence throughout Middle Tennessee as we establish more boutique Shops in storefront locations with high foot traffic shoppers.

Stop in any time . . . You’re always welcome

Green Hills

3912 Hillsboro CircleNashville, Tennessee 37215 USA

+1 615 297 8543

Scratching the Surface

Why do we get itchy?

Of course, we have an urge to scratch any itch we detect physically or mentally.

Seldom does the act of scratching actually heal the source of the itch, though – Right?

Moreso, we rationalize many reasons to scratch.

It gives us something to do about the itch.

If the itch is a craving for something . . . like Ice Cream or tacos, does eating ice cream and/or tacos, cure the itch, or does it just cause us to want MORE ice cream and tacos?

That mosquito, tick, or chigger bite is a physical itch. We ATTACK these itches even though the act of scratching invariable exacerbates and amplifies the itchiness . . . We all know this, yet we continue to scratch until we bleed thereby leaving us in the predicament of creating a veritable flesh wound.

Whether the itch is mental or physical, it’s representative of the tip of an iceberg . . . We only know the symptom and the satisfaction of us doing something about it by scratching with no knowledge of WHY this itch manifested in the first place.

I say this akin to rocking in a rocking chair. It gives you something to do but doesn’t get you anywhere. As we continue to scratch, we are practicing insanity . . . doing more itching and expecting different results.

There’s a simple fix.

When you feel an itch, DON’T SCRATCH because we know that every scratch will beget more itchiness.

Pause the game and ask yourself: “WHY?”

What is the source of this itch?

Ask yourself if you’ve experienced this type of itch before, and what was the salve that cured it?

Do that, and save yourself from doing harm by unnecessary SCRATCHING.

PS – Aren’t our bodies and minds amazing? They can usually locate any itching of any magnitude in a microsecond. Save yourself from chasing the rabbit down the hole of scratching.

This analogy is appropriate for every kind of itch imaginable whether it be relationships, work, or chigger bites.

DO . . .

Sense – Locate – Pause – question Why? – Salve – Carry on

DON’T!

SCRATCH

Are you waiting for the real estate market to settle before you buy a house?

Unless you have been in isolation under a rock, you are aware that the Real Estate market is C-R-A-Z-Y these days in pretty much EVERY city in the USA.

Of course, I have witnessed many wild markets in the 28 years I’ve been a Real Estate Sales Profession, but never one quite like this.

In a declining market, it makes sense to hunker down and stay put UNLESS you’re facing circumstances beyond your control necessitating a change of lifestyle (Job or personal shifts). If you have the wherewithal to weather the storm, do so. You’ll be buying low . . . AND Selling low – I guess there’s a cancelling effect, eh?

In an appreciating market (like this one which is on STEROIDS), it makes good sense to keep the house you’ve got now if you can because you will build more equity with every passing day. My advice to everyone who is in a position to buy real estate – 1st time buyers – 1st time investors -2nd home buyers . . . BUY NOW!

This is a unique “perfect storm” which will likely continue to result in unprecedented appreciation – even EXPONENTIAL & projected to increase values up to and beyond 2026

If you own real estate, you are literally building your wealth while you sleep . . . at an 8-9% Annual rate. Even beyond 2026, projections are strong and only decreasing the RATE of appreciation.

So, my bottom line . . . BUY REAL PROPERTY NOW!

If you’re waiting for ANY reason, just know that you’re “burning money” – The power of your money is eroding every day you delay as prices rise.

Expert tip . . . Focus on the least cost real estate you can find, and buy THAT . . . and HOLD it.

The word is . . . More and more people will be renting instead of buying because they are delusionally imagining that “this storm will pass” and things will get back to “normal” soon enough. (unless they read this post 🙂

Don’t be that person . . . Start building your wealth instead of adding to your landlord’s wealth – NOW!

Here’s how: Connect with me or your favorite Realtor IMMEDIATELY!

Set an appointment for a consultation to familiarize you with the process. Your Realtor will navigate with you beginning with securing a FULL BLOWN Loan APPROVAL . . . and then enter the market. Keep in mind that buying on the low end of the pricing will be VERY competitive – There will be multiple offers on EVERY house that hits the market (Except the grossly overpriced underconditioned ones).

Listen to and trust your Realtor.

Just DO IT!

Barry Owen

mailto:Barry@ParetoRealty.com

615-568-2123

Notes about the State of the Middle TN Real Estate Market from a VERY sharp guy

Lawrence Yun is Chief Economist and Senior Vice President of Research at the NATIONAL ASSOCIATION OF REALTORS®.

I think he LOVES Nashville, because, for YEARS, he has been able to bring GOOD news to the Realtors of Middle Tennessee. In fact, he commented that, as he speaks in other cities, he is often asked what the BEST markets are . . . and Nashville and Austin, TX are almost always the first to mind.

Early this week, he participated in the Greater Nashville Realtors NASHONOMICS

I scribbled most of comments and thought I would share the good news about Nashville’s real estate market now and in the relatively near (5 year) projections.

Of course, if you want to discuss any of the comments, feel free to connect with me . . . after all . . . I AM your sole source of ALL things real estate throughout Middle Tennessee. I don’t ALWAYS know the answers, but I CAN do the research – That’s what a real estate sales strategist does.

Here it is – Unfiltered:

  • Nashville is still a BARGAIN relative to most other markets around the country
  • There was a SURGE of activity as the lock-down wound down
  • No worries of 2008 Drama because these sales are paid for with more CASH and “SAFER” mortgages – No risky business
  • This is NOT a “BUBBLE”. (PERIOD)
  • There are more National Association of Realtors members (@1.4MM) than houses available for sale
  • There’s a 3:0 ratio of resale: New construction
  • Builder confidence is high, and they are thinking they don’t need Realtors (they’re WRONG)
  • Most new construction sales create other resales (Trade up or down Buyers)
  • The $1,000,000 and above market supply is 80% above last year
  • The days of $100,000 house sales are OVER . . . This begs the question: what about “affordable Housing” for “Middle Class” families?
  • 36% of the houses sold above the Listing price (This surprises many of us Realtors . . . This means that 64% of the resales close at or below the listing price.
  • The builders have built in the past year more houses than any other year in the past 15 years . . . Most never hit the open market.
  • Most of the construction in the Urban core will be Apartments (rental)
  • In the period 2007-2021, 14 years of “Underproduction” created a vacuum
  • Nashville is in the top 10 cities of number of new construction houses Nationally
  • The Fed does not determine the Mortgage rate – which is dictated by the 10 year treasury yield.
  • Mortgage rates will likely be @ 3.5% by Christmas 2021 (Still a bargain IMHO)
  • Projecting 4% rising prices overall consumer goods and food and appliances
  • Used car pricing is RISING due to some difficulty with parts inventories AND “Buyer anxiety”. New car delivery can be delayed and understocked
  • Construction materials are scarce and rising in cost – projected to level back to “normal” costs in the next 5 years
  • Apartment rents are decelerating because, as jobs disappeared, so did renters (moving back to Mom)
  • LOTS of jobs coming into Nashville more than most other cities
  • Home sales will be UP – Q1 12% – Q2 42% – Q3 31% – Q4 10%
  • Home prices will NOT decline
  • The current conditions are projected to be the same through 2026 (5 years of the same)

This is a LOT to digest, but my analysis is that our market is one of the strongest and most resilient markets in the world. The tough reality is that living in the urban core will only be possible for the wealthy . . . everyone else will be pushed to the fringes.

This, then, opens the next discussion . . . How will we bring our infrastructure up to par for the increased population – Roads – Water/Sewer – Power grid – Transportation – Schools – Police and Emergency services

FOLK!

Nashville is now a bonafide MEGALOPOLIS