The institutional investor footprint is shrinking 🦅 🌎 ⚓️






 


The institutional investor footprint is shrinking.
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Why Homes Feel Unaffordable
Why is housing affordability so out of reach for so many people? Some people want to blame the investor, and I can say, yeah, probably a little bit, that it has a lot to do with a lot of things. Let's go into it real quick. 

Investors Pulling Back

The institutional investor footprint is shrinking. Why is that? Because of the massive gains that we were ex experiencing, the last three, 20 20, 20 21, and before those were like double-digit increases every year.

12, 15, 20%. Sometimes you can do a really good job of buying a house and just sitting on it for a year, and all of a sudden, that hedge fund looks like they were doing massive amounts of work. They were just timing the market. The market has plateaued. It's been on a plateau, up and down a little bit, but not massively over the last three years, four years, because rates have been so high. Buyers are hesitant. Buyers are being picky, sellers are being stubborn. So why would they invest money into that, where they can invest and get double-digit returns somewhere else?

Like the stock market, the gold market, or the Bitcoin market? 

Land Entitlement Explained

There is money to be made in real estate, and that's land entitlement. It's a huge process. It's very complicated. You have to be an accredited investor to do it, and instead of me managing. Five to 10 doors, or have the landlord's property managers do it.

I could take the money that I have and double it in three years. Why would I do real estate when I have to fix HVACs, dishwashers, screen doors, and replace light bulbs? Oh, my place got hit by a tornado. I'd better go get my insurance company. Oh, my insurance company's going to go more expensive.

This has all happened to me as a landlord, and it just, you know. Pass or fail. That's just the way things are. When you're a landlord. You are a handyman. When you are a landlord, you are multiple things. There are a lot of advantages to being a mom and pop. But if you look at this right here, and I suggest you read this article because it's very o eye-opening, and I, my suggestion is I'll segue into why we have housing affordability problems here, right?

When you're a landlord, you're active. It's not passive at all. When you look, seek land entitlement. If you wanna learn more about it, I'm happy to share what I know. Financial intelligence is all about telling you how to get to the next level and learning about things that I was never taught. I learned over time about different options, and there are thousands of different options out there. 

Who Really Buys Homes

Okay, so overall, the mega institutional investors make up less than 1% of the investor pool.

Let's say that there's a thousand, there's a hundred houses out there that are being, they're buying 1% of those houses. That's the way I read it. Most investor activities are driven by small mom and pop guys like me. I've divested myself of all my.

Portfolio 'cause I'm taking that money and putting it into land entitlement, which is risky. It's absolutely risky. But it's far more passive. I don't have to do anything. I don't have to worry about the HVAC going out or a tornado hitting one of my units or a place, burning down because the tenant wasn't being careful.

The top 10 metros by total activity account for 50% of institutional activity. So it is not all over the United States. It's all over, right? Read this whole thing. It is totally eye-opening.

And here's the thing. Where's California? They're not there. Why Op open door was there? Or is there? They're still buying and selling. They're still Intru intruding, but they're going to take their time to make their purchase. But for the most part, BlackRock and all these other companies that are out there, they're not going to California because affordability is out the door.

So the question is, Vito. Why is housing affordability so out of reach for so many people? 

The Real Cause of Greed
Greed. And it's greed that you have, and greed that I have, and greed that all the institutional investors and mom and pop investors and every buyer and seller on the market have; it's a natural human condition to have greed.

And when the conditions were right, IE 2% interest rates are two point a half or 3%, whatever you want to call it. There was a lot of competition. When there's a lot of competition, prices, price, home prices go sky high. They go un uncomfortably high for many, many, many people.  So just keep that in mind.

Greed is a natural human condition, and that's the government deciding that we're gonna drop rates to keep the economy moving forward. And politics has nothing to do with it. It has everything to do with the human condition of greed.

And it's not just one person, it's everybody. It's us, as real estate agents. It's you as a buyer. It's you as a seller. It's the investors, it's the government, it's the lenders, it's the appraisers, it's everybody involved. So we're all culpable. So is that wrong? No, it's not. It's just the human condition.





Staging For Top Dollar

The Reddit question of the week, I get this all the time 'cause I'm sitting in. Tons of listing presentations. I'm like, I don't believe, and people are like, I don't think staging will work well. That's okay. If it doesn't work for you, then don't work for you. Don't complain to me when I tell you that staging works, and then you get crappy results.

I don't get anything out of it. I don't own a staging company. I don't, I don't care. I don't care if you do it or not. I'm still gonna sell your house. If you wanna get top dollar for it. This is one of the things you should do to sell your house. And it's not just furniture, it's decor, it's stuff on the walls, it's, it's everything.

I understand, it's like $3,00,0 and you don't see the financial proof of it. Although the staging, consortium, um, or association can prove that it. Increases the value. You want to be smooth, steady, and simple. stress-free as possible. Transaction. When you decorate your house, it is going to sell faster. When you take out the old furniture and put in new furniture and decorate it to modern needs and wants, to make your house look like a showroom.

Model floor, like a new home, that's when you start competing. Otherwise, you're going on the wayside, right? 

Declutter Depersonalize Tips

Don't forget, there's always the three Ds. Deep, clean, scrub, clean wipe, clean, declutter, declutter, declutter. No more than three things on any surface, right? If you're living in it, absolutely. I have no problem with you being a mess, but if you're, if you're selling your house, declutter.

Put it away, put it in a box in the garage or in a storage unit, and then depersonalize. Get rid of all the pictures. I like a few pictures here and there because they have memories. The house does have memories, right? If you have quality stuff and a sense of style to lay out, absolutely do it yourself.

But if your furniture is tired and old and smelly and smells like dogs, move it out and put it in some staging. Curb appeal, all these other things too. Absolutely. You should invest in your house. If you own a house, you should be investing in it, and it shows. If you don't, it shows.

So there you go. 




Probate And Senior Moves
Enough said, and it goes the same thing with probate sales, estate sales. And if you put your parents into adult living communities, like I did this last summer.  When it comes to selling your house, we're doing it for my aunt right now,w up in Washington, fighting tooth and nail with our agent up there.

I get this all the Time. It's a struggle. And if you want your parents to move, you want your older adult parents to move, and feel like they need to get that out of the way.

You need to get them out of the way into another situation, whether it's adult memory care, active adult, or what have you, and then we can start working on the process. Because if they're in the house, there's a lot of memories and a lot of ego and a lot of fear about the next step of their life. Once they've moved into the next step of their life, then they're off and running.

 

Homescom Marketing Power

Okay, next side of that, Ooh, I wanna see if this works.

Doing up there. 

Oh, I'm just posting the number of visitors to the homes.com network. This month, it actually lost, becoming the go-to home shopping site. 

It's got another 14,000. Oh, 17,891. 

Just hand me some commas and zeros. 

Plus seven. 

What? 

Oh, that's sweet. 25,000 more. Any reason why you didn't just go with over a hundred million or even a billion visits a year?

homes.com, the place to find a place. 

Okay, hopefully that worked. But here's the thing. I'm looking at this house right here, and we've gotten over 30,000. 40,000 views on this house from homes.com. 'cause I'm an advertiser. I pay for advertising on it to sell your home.

And that's part of the whole process. You get the Matterport, you get the drone, you get the 3D floor plan, you get everything right. And it's awesome. But the most important thing is. It is your house that is put front and center for multiple viewers and users of Homes.com. On top of that, it goes to aggregate websites like Yahoo, B-B-C-C-N-N, Instagram, YouTube, and LinkedIn, all over the place.

So we're not just, I'm putting your house out there everywhere. And that's the power of homes.com. And I love this. I think it's highly valuable. I love the fact that you can see that this place is just getting tons. 

Listing Performance Dashboard

Well, this one's the listing presentation, right? This is the website, so this is the public side of it.

Dashboard listings, performance reports. Let's go here. We just put Regency on the market. We had 700 display views. That's the ESPN and CN. We had 139 detailed interested people looking at that property. We've had top of the. The top of the search results is 3000, and Matterport views are 13.

So it's funny because Matterport, everybody's like, oh, we do Matterport. We do. How many times have you actually looked at a Matterport, right? I actually have my own off-brand version of Matterport, but because I'm paying for this, I get it included. So it's nice to have, right? You get all this activity.

Top traffic sources, 74% ithe s property search page. Well, that's within homes.com, right? And yet we're still getting 40,000 views, and that's what we talk about every day here, right? More eyes on your listing, more showings, more disclosures, more listings, more inquiries.

We need to go through and understand how this value plays out and why it's a value to you. So I think it's Great. Before I took this listing, I didn't want anything to do with Homes.com because the old version of it was that they handed us old, stale leads, like 20,000 leads,s and expected us to follow up on them.

And it costs a lot of money. This costs a lot of money, but I see the value already because I'm getting tons of the funnel filled out for me, the top level of the funnel, which is more eyes on your listing, which is important to you and me to make sure your house gets sold. So there you go. All right. 





Local Market Snapshot
March 18th, we have 40 days on the market.
A hundred twenty-eight ninety days on market is 48. Things are starting to jive a little bit.  We still have a very small amount of bank-owned properties out there, and in San Jose. Santa Clara County. We're seeing inventory go up a little bit, but there are houses that are selling in Santa Clara County.
We had almost 200 houses go into contract last week. That's 20% roughly, eh? It's less than that. It's like 15%, but still right. It's great. That's awesome. The demand is there. We just need to get your house ready to sell and put it on the market so it can be sold. Your house will sell right back on the market, 59 houses.
This is aggregate, right? And then last week we had five houses withdrawn, three expired,d and 2canceledel.

So what am I going for here? Well, here's your 40-day on market chart, right? Nothing's skyrocketing. Nothing's going crazy. We do have more houses checking into the inventory in both San Jose and Santa Clara, and houses are starting to sell more. We're out of the cold, chilly aspect. We could still hit a cold as cold spell, but I think we're headed for a warm couple of weeks.

All right. 

Wrap Up And Personal Note

That's it for now. Thanks for watching. I'm Vito with Abano. We'll see you out there.

I went on a hike this week, and I saw about four people I knew. It was really cool. Up at the Santa Teresa Park back the, re 12 miles, and I'm still feeling it. It's crazy. All right, we'll see you out there.

 

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Vito Scarnecchia
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