7 Creative Tips To Setup Your Real Estate Marketing In 2021

8 Creative tips to setup your real estate marketing in 2021

In this post, Cash for Homes Arizona talks about how you can become a strategic marketer in 2021 with these tips:

Today’s real estate marketing landscape is highly competitive. That means you have to do more than add listings or send emails. On top of that, the pandemic has complicated things further. That’s why unique marketing tactics like virtual tours and video marketing are the need of the hour.

1. Observe real estate website best practices

MLS sites and applications continue to remain one of the most valuable marketing tools in real estate. It carries the potential to generate high-quality leads. But, to attract those leads, your site must observe the best SEO and marketing practices.

Below are some of the most effective SEO practices that can generate great leads:

  • Make sure that your site is user-friendly, responsive, and easy to navigate across pages
  • Keep the layout and design eye-catching
  • Place a search bar on the website that has been IDX-optimized
  • Fill up your website with high-quality videos, infographics, and professional photos
  • Place appealing CTAs (call-to-action) buttons at all the right places
  • Give interesting descriptions to each property listed on the site
  • Give brief but comprehensive information about the neighborhood along with real estate resources for each listing
  • Implement the best SEO marketing strategy to secure top rankings in SERPs
  • Make sure to supply your contact information including email and contact number so it’s convenient for potential buyers to find you
  • Place sign-up links for your newsletter and all the social media profiles on which you are active

2. Boost engagement with polls, contests, polls and Q&As

With social media platforms like Instagram rolling out new and interesting features every day, engagement has become easier than ever. If you want to engage your real estate clients use Q&A stickers and polls in Instagram stories. Use interesting GIFs and put out appealing questions.

The more you can engage users, the better likelihood they have of coming back to you. Also, high engagement tells IG algorithms that you offer great content. As a reward, you’ll score better organic reach. You can also run all kinds of contests, reveals, and conduct giveaways all from within the IG stories.

It’s all about mastering the art of getting and keeping users engaged so they want to keep coming back for more.

3. Invest in video marketing

2021 is going to be all about the video. Video marketing is hot right now and it’s here to stay. It makes more sense for real estate as real estate is all capturing the appeal visual; which videos do well. In 2021 you must leverage the power of video marketing using hyperlocal targeting.

Be sure to produce videos consistently capturing the neighborhoods that you represent. In videos, you can cover different aspects of living in that area such as lifestyle, entertainment, housing features, and other perks of living.

To reach the maximum number of viewers from the areas you serve, use keywords within your titles and all the YouTube and Facebook ads you run with strong CTAs. This practice will help to drive traffic towards your real estate site.

4. Be sure to run a blog actively

It’s a good practice to have an active blog that you update regularly. If you don’t already have one, it will be good to start one. A blog can help you on multiple fronts. First, it acts as a source of education for both potential and present clients.

It also makes your business come across as a credible one since people like to Google everything online. Other than that, it also creates an open dialogue with everyone who’s part of the real estate game in your area. Optimizing your blog content for all the right keywords can also help you score top rankings against local searches. This will help you attract higher organic traffic and bring more customers to the door.

5. Offer home valuation to capture leads

Offering home valuation is an excellent way to capture leads and something to think about in 2021. For this method, you will need to create a landing page that offers a free evaluation to property owners. The visitors can come on to your site and get to know the worth of their cost. It’s better if you do this free of charge.

In exchange for this small favor, you can ask for the user’s contact details. You can evaluate the property in two ways:

  • Instant evaluation
  • Delayed evaluation

If you want to go with instant evaluation, you will have to build a tool. For that, you will need to work with a developer so he can build the exact kind of evaluation tool you want and embed it to work seamlessly within the site.

In case of delayed evaluation, you will need to physically visit the property to perform an evaluation before giving the estimate. Check out both methods and see which one works best for you.

6. Collaborate with a real estate Influencer

Influencer marketing is the big boy on the block. The year 2021 is going to see more of it. It’s extremely effective and everyone’s doing it, including real estate agents. Influencers have millions of followers.

For a nominal fee, they can help spread the word on your behalf and get your details out to thousands and millions of their followers. You must work in collaboration with them to get the maximum juice out of your influencer marketing efforts.

7. Use more of email marketing

Remember, we’re living in corona times. During the pandemic, there’s no better way to reach people than via their inboxes. As you’re adapting to the ‘new normal’, email marketing is pretty effective in sending regular updates to attract potential leads and clients.

You can use Email marketing and newsletters to give 3D visual tours of the properties available and also inform your followers about new properties up for sale. Make sure to use email marketing and newsletters as a key marketing plan in 2021.

 

Source: 7 Creative tips to setup your real estate marketing in 2021 – All Ontario

.

.

More Contents:

Real Estate Marketing Plan: 5 Must-Have Strategies for Agents
blogs.constantcontact.com – January 25
[…]   The writing is on the wall; if you want to be successful in your real estate marketing in 2021, you’ve got to be online […]
N/A
Digital Real Estate Marketing in 2021: Why don’t ads bring results? »
infotohow.com – January 20
Ads represent one of the most used digital real estate marketing strategies today.However, most real estate companies are unable to generate results when…
1
A Comprehensive Guide to Real Estate Marketing in 2021
[…] Here is a guide to real estate marketing in 2021 […]
N/A
5 Best Marketing PLatforms for Real Estate in 2021
loveumarketing.com – December 22, 2020
[…] CONCLUSION: REAL ESTATE MARKETING IN 2021 In 2021, real estate marketing is all about creating visual content that stands out […]
1
6 Surefire Tips For Stepping Up Your Real Estate Marketing In 2021 
http://www.inman.com – December 19, 2020
How can you propel your real estate brand forward in 2021? What types of marketing strategies and tactics will work best next year?  …
6
9 Do’s and Don’ts of Real Estate Marketing in the Face of New Challenges in 2021
rentredi.com – December 4, 2020
[…] Real Estate Marketing in 2021 The real estate market will definitely face changes and challenges in the upcoming year, however […]
0
Top 6 Real Estate Marketing Ideas for 2021
business.nextdoor.com – November 25, 2020
[…]   Real estate marketing in 2021 doesn’t necessarily require you to be a web guru […]
N/A
Real Estate Marketing Strategy for 2021
blog.digitalnexa.com – November 4, 2020
[…]   In Summary Real estate marketing in 2021 is all about digital strategy:   High quality digital content builds community and trust Socia […]
1
7 Real Estate Marketing Trends to Expect in 2021 | Mashvisor
http://www.mashvisor.com – October 19, 2020
[…] One way that real estate agents are expected to leverage digital real estate marketing in 2021 is to use social media […]

As Pandemic Fatigue Sets In at Work, Employers Try to Help

People are tired. Between a global pandemic, economic crisis, social unrest, & political upheaval, the past year has been physically and emotionally draining for just about everyone, and perhaps most for essential workers.

Across industries, workers struggling with pandemic fatigue are facing burnout more than ever. For leaders, keeping these employees engaged and motivated is a challenge in itself. While some leaders are turning to incentives like gift cards and cash to help support employees, others are taking a softer approach, investing in relationships and focusing on workplace communication.

Money Talks

When the pandemic began, the hospitality industry fell off a cliff, says Liz Neumark, founder and CEO of Great Performances, a catering company in New York City. She knew keeping everyone employed would be difficult until her business could find another source of revenue apart from events, which eventually came in the form of preparing meals for essential workers and people unable to quarantine at home. While some of her employees, such as those in sales or event production, saw salary reductions, chefs, kitchen staff, and other employees making food for essential workers kept their full salaries and got help with transportation as well.  

The founders of P. Terry’s, an Austin, Texas-based fast-food restaurant chain, give employees gift cards and cash to help pay for groceries and offer them interest-free loans. They also incentivize employees to participate in community and civic causes, including paying hourly wages for volunteer work.

Justin Spannuth, chief operating officer of Unique Snacks, a sixth-generation, family-operated hard pretzel maker in Reading, Pennsylvania, increased hourly wages by $2 for all 85 of his employees. The company also hired additional temporary employees to provide a backup workforce. Spannuth says the move helped persuade employees with possible symptoms to stay at home by easing the guilt that employees can have about not coming in and potentially increasing the workload on their colleagues. 

“The last thing we wanted our employees to do was get worn out from working too many hours and then have their immune system compromised because of it,” says Spannuth.

Helping Employees Connect

Andrea Ahern, vice president of Mid Florida Material Handling, a material handling company in Orlando, Florida, says it was difficult to keep morale up when the business was clearly struggling; employees were uncertain about the company’s future, and their own. To help ease the stress, the company held a wide array of picnic-style meals in the company’s parking lot. It was a light distraction that still followed Centers for Disease Control and Prevention guidelines. Now, she says, morale has started to rise.

“With the release of the vaccine and the so-called ‘light at the end of the tunnel,’ we’re starting to see the industry get a lift in activity, and associates feel good when they know their jobs aren’t at risk. However, it wasn’t always this way.”

These kinds of events can, of course, also take place virtually. Company leaders across industries are encouraging staff to treat Zoom as a virtual water cooler. But while casual online gatherings after work can help colleagues maintain friendly relationships, they can also contribute to “Zoom fatigue”–the drained feeling that comes after a long day of video calls, which often require more concentration than in-person meetings.

Matt McCambridge, co-founder and CEO of Eden Health, a primary/collaborative care practice based in New York, says while his teams hold regular virtual water coolers, they switch it up. For example, the company hosted an interactive “dueling pianos” virtual event over the holidays, as well as a magic show. 

Better Communication From the Top

Communicating support work-life balance at a time when many people are remote and facing trauma is critical. Neumark notes that when her catering company was pivoting and in the process of providing hundreds, if not thousands, of meals, the team was relying mostly on sheer adrenaline. Months later, now that the novelty is gone and fatigue has fully set in, the boundaries she set are crucial.

One rule, for example, is weekends off, unless there’s an urgent, unavoidable request. “The weeks are still so intense, and people need their private time right now,” says Neumark.

It’s essential that leaders understand the issues their employees may be facing and not try to gloss over them, says Dr. Benjamin F. Miller, a psychologist and chief strategy officer of Well Being Trust, a foundation aimed at advancing mental and social health. “When your boss is pretending that everything is OK, it doesn’t create a conducive work environment for someone to talk about having a bad day,” says Miller. That’s one reason virtual water coolers often fail, he notes. While they’re great at getting people together, there’s little benefit if people can’t speak openly and honestly.

It’s also OK to tell employees that you, as a leader, are not having an easy time. Showing vulnerability doesn’t show weakness, Miller adds. You’re setting an example that shows that it’s OK to be honest and acknowledge that not everyone is not having the best time. If you aren’t aware that someone is in a crisis, he says, you may lose the opportunity to reach out to that person and help.

By Brit Morse@britnmorse

More Contents:

ZDoggMD

Cases rising, news orgs banging the drums of doom, yet Americans seem to be throwing up their hands. Here’s what’s up with #pandemicfatigue​, LIVE. Transcript, audio podcast, and more: https://zdoggmd.com/pandemic-fatigue-…​ Your support keeps this content independent and awesome, so join the Supporter Tribe to get exclusive videos, live discussions, and other crazy perks: YouTube: https://www.youtube.com/user/zdoggmd/…​ Facebook: http://facebook.com/becomesupporter/z…​ Patreon: http://patreon.com/zdoggmd​ PayPal: https://www.paypal.me/zdoggmd​ Merch! https://supportertribe4lyfe.com/​ (Facebook and YouTube supporters get 25% off) Website: https://ZDoggMD.com​ Podcast: https://ZDoggMD.com/podcasts​ Facebook: http://facebook.com/zdoggmd​ Newsletter: http://eepurl.com/gD8_D1​ Twitter: http://twitter.com/zdoggmd​ Instagram: http://instagram.com/zdoggmd

COVID19 Vaccines – Not For Wealthy Countries Only theiddoc.net – February 6[…] The collision of COVID19 fatigue, substantial economic losses from lockdowns and more transmissible variants creates a perfect storm […]5

Hospitals will soon not be able to handle serious COVID-19 cases — NCDC DG, Chikwe Ihekweazu http://www.lindaikejisblog.com – January 12[…] workers will be forced to make tough decisions We need to protect our more vulnerable citizens #COVID19 fatigue  While we may all be tired & fed up,the virus is taking advantage of our fatigue & gaining momentum […]0

COVID-19: FG To Roll Out Rapid Diagnostic Test-Kits In Abuja nigerianewspapersonline.net – January 12[…] Speaking on COVID19 fatigue, he said that while Nigerians may all be tired and fed up, the virus was taking advantage of th […]0

A blog about your mental health and developing your human potential http://www.drrodolfoatrivisonno.com – December 29, 2020[…] y da consejos para prevenir la infeccion This post explains the current psychological phenomenon of COVID19 fatigue and gives you information as to how to cope with it Este articulo explica que es el narcisismo […]3

Thread by @elleprovocateur on Thread Reader App – Thread Reader App threadreaderapp.com – December 6, 2020[…] org/wp-content/upl…] “”#Covid19 #fatigue” is real” [Face masks serve as an inescapable reminder – ensuring no one can move on or forget […]N/A

My head In a Cloud Though the Sky Is Blue psychologicalnaturist.wordpress.com – December 4, 2020[…] At a loss, I am left with the only thought that maybe I am suffering Covid19 fatigue […]0

Fiona Agombar – Yoga for Peace and Vitality http://www.fionaagombar.co.uk – November 20, 2020[…] This includes CFS/ME, exhaustion from stress and post-Covid19 fatigue […] are suitable for all abilities including those with fatigue conditions such as CFS/ME and post-Covid19 fatigue […]   The live online yoga classes are ideal for people experiencing post-Covid19 fatigue as they provide gentle yoga which works specifically with the breath to support recovery fro […]13

COVID-19 Fatigue is Real and Spreading http://www.livetradingnews.com – October 27, 2020#COVID19 #fatigue “What are your plans for 4 November, when COVID-19 will be officially over in the media, and w […]N/A

Coronavirus ‘fatigue’ is real, but we can’t give up: WHO – National | Globalnews.ca globalnews.ca – October 26, 2020[…] milestones with friends and family or not being there to mourn loved ones – it’s tough and the #COVID19 fatigue is real […]2

Online: How to Conduct a Yoga Therapy Session Online themindedinstitute.com – September 3, 2020[…] in teaching yoga for all fatigue conditions, including CFS/ME, exhaustion from stress and post-Covid19 fatigue […]2

Gupta Program For ME, CFS, Fibromyalgia & MCS – The Hidden Post-Covid-19 Pandemic of Chronic Illness | Facebook http://www.facebook.com – August 14, 2020[…] com/chronic-post-covid19-fatigue-…/0

The Public’s Health Companion 2020health.wordpress.com – June 19, 2020[…] Posted in Covid-19, NHS England, Patients | Tagged CFS, coronavirus, Covid Symptom Study, Covid19, fatigue, ME, NHS Test and Trace, Physiotherapy, Post-Viral Fatigue, rehabilitation, symptoms | Leave […]16

Mind Brain Ed Think Tanks+ – By teachers, for teachers. http://www.mindbrained.org – May 6, 2020[…] But probably all of us are experiencing Covid19 Fatigue […]

How The Pandemic Has Changed Our Lives in 2020

To say that 2020 was a year unlike any other would be putting it mildly. The COVID-19 pandemic left few parts of daily life unscathed. From forcing legions of children to attend school via Zoom to revising how we work, travel, and shop for food, here’s a look at some of the most notable ways life changed in 2020.

Related: Americans’ Top 10 Biggest Fears About the Coronavirus Pandemic

With urban hubs like New York City making headlines for being COVID-19 hotspots, the suburbs have never been quite so appealing. A variety of studies have found that Americans of all demographics began adopting suburban life during 2020. In particular, the moving resources and information company MyMove conducted a study of change of address data from the U.S. Postal Service and found that more than 15.9 million people moved during coronavirus. The MyMove report notes that “people are leaving big, densely populated areas like Manhattan, Brooklyn and Chicago and spreading out to suburbs or smaller communities across the country.”

Related: Pandemic Phrases That Have Infected Our Vocabulary

COVID-19 also triggered a massive shift in how we work. At the onset of the pandemic, countless Americans created home offices overnight in order to adapt to the new normal. And while it seemed initially that the shift would be temporary, more than a few of America’s most well-known employers have since announced long-term work from home plans and policies. In fact, Flexjobs has said working remotely may very well be the way of the future, pandemic or not, with some companies even deciding to let employees work from home permanently, including Coinbase, Infosys, Lambda School, Nationwide Insurance, and Nielsen.

Related: 18 Big Companies Letting People Work From Home Long-Term

Students of all ages have seen their worlds altered dramatically. Remote learning has become the norm for all ages, from elementary school through college. As 2020 draws to a close, the remote learning continues for many, with many school districts around the country — from San Diego to Chicago and Boston — pushing back any plans to return to in-person education as the pandemic rages. Zoom classes, it seems, are here to stay for a while longer.

Related: 25 Top-Rated Products on Amazon for Working From Home and Remote Learning

School and work aren’t the only parts of life that have moved almost entirely online. More Americans than ever are grocery shopping online, we’re holding virtual happy hours, and even taking part in Zoom doctors’ appointments more routinely. Computers have likely never played a more central role in our lives. An article from MyMove calls it the “telepresence boom” noting that entire families are now performing basic functions from their homes via a computer and an internet connection. And many of those changes are not likely to ease any time soon.

For more great lifestyle articles, please sign up for our free newsletters.

Ah, the good old days when we attended big concerts without a second thought, as well as weddings, festivals or sporting events. The year 2020 significantly altered this part of life with social distancing and lockdowns being the rule. As an article in Physician Sense notes, all of these things will be back at some point, but even after the pandemic has subsided, large gatherings are likely to be forever altered in some ways.

Related: 12 Things You Likely Won’t See at the Next Wedding You Attend

The pandemic of course, changed our eating habits, a topic worthy of an entire article of its own. But let’s start with the renewed or increased focus on beans. This humble, protein-filled staple has taken on new importance amid COVID-19. The New York Times reported in March a huge boom in bean sales, which makes sense, right? Beans are filling, nutritious, and inexpensive.

Related: Best Beans and Rice Recipes From Around the World

The past year has been stressful, unnerving, boredom-filled, and more. So, it’s no surprise that we’re reaching for comfort food more regularly. A poll released in September found that two out of three people are eating more comfort food. This includes an increase in the consumption of pizza (55 percent), hamburgers (48 percent), ice cream (46 percent), and more.

Related: 20 Comfort Food Recipes That Freeze Well

While we’re seeking out the comfort food, we’re ditching the healthy stuff. Forbes found Google Trends data suggesting that searches for terms like “salads” and “veggies” were lower in 2020 than at the same time in 2019.

Related: Top Google Searches Before & After Covid-19

With restrictions on dining inside restaurants in 2020 thanks to social-distancing guidelines, drive-thru became the next best thing for many people. Restaurants far and wide responded by redesigning their customer experience to include many adding drive-thru lanes or creating spaces for curbside pickup — even if they already had drive-thru lanes. What’s more, a recent article from Forbes says that curbside pickup is here to stay, even after the pandemic ends. The publication reported that Starbucks CFO Pat Grismer says curbside service is part of the chain’s plans for longer-term recovery.

Related: How Drive-In Restaurants Are Catering to Customers Amid the Pandemic

Before COVID-19 altered our world, about 20 percent of Americans shopped for food more than three times each week. A study by consulting firm McKinsey, however, found that number was down to 10 percent by June 2020. Meanwhile, Supermarket News reported that online grocery sales skyrocketed, rising from $1.2 billion in August 2019 to $7.2 billion in June 2020.

Related: Online Grocery Delivery Comparison: Is One of These Services Right for You?

Remember when it seemed almost rude not to greet the individual who delivered food to your home? The days when we would meet him or her at the door and perhaps provide a cash tip. That’s a distant world, isn’t it? Now we practically cower inside our homes fearing human contact, requesting the delivery driver drop our food on the doorstep and be gone. Close contact with strangers became a health hazard in 2020 and we have adapted accordingly. Doordash, Seamless, and many smaller delivery services offer a contact-free option.

Outdoor dining used to be far more prevalent in Europe than the U.S., but with social distancing being the new normal and the fact that the hazards of COVID-19 are reduced in fresh-air environments, restaurants that never before considered al fresco offerings have scurried to set up tents and tables in parking lots, on sidewalks and in roadways. Some 67 miles of streets were closed to vehicular traffic in New York City, with more 2.6 miles dedicated to the city’s Open Restaurants program, which has been made permanent. Some restaurants are also making structural alterations, building patios and decks. As Architectural Digest reported: “Masked waiters, tables spaced six feet apart, plexiglass barriers, and even stuffed animals occupying seats — these are some of the changes you might encounter the next time you dine out.”

Related: Beloved Restaurants and Bars That Closed Permanently This Year

A Statista survey conducted during the earliest days of the pandemic revealed our personal hygiene habits had also begun to change significantly in 2020. Back in April, 79 percent of the Statista survey participants said they wash their hands more regularly. Not surprising under the circumstances. And the reality is that stepped-up hand washing is still a necessity as the pandemic rages on.

Related: How to Disinfect Without Harming Your Stuff (or Yourself)

Headline-grabbing protesters aside, it seems the need for making face masks a part of our lives has begun to sink in as the year draws to a close. A HealthDay/Harris Poll found that “more than nine in 10 U.S. adults (93%) said they sometimes, often or always wear a mask or face covering when they leave their home and are unable to socially distance, including more than seven in 10 (72%) who said they always do so.” And until vaccines become more widely distributed, masks will continue to be an important part of life.

Related: Masks and Accessories to Make Covering Your Face More Comfortable

To say the travel experience changed in 2020 would be an understatement. This is a topic that has received immense coverage. Some of the most immediate impacts to our lives include the lack of travel altogether and the bans on Americans visiting many countries around the world because of the COVID-19 rates in this country. But travel has changed in more subtle ways as well, with some airlines blocking middle seats from being used to keep passengers from sitting too close together, and cruise lines practically ceasing operations, while hotels are redoubling efforts to provide clean, sanitized rooms when you check-in.

Meanwhile, more Americans are taking road trips and rediscovering America again. A survey conducted by Cooper Tires and reported by the New York Post earlier this year found that 43 percent of those surveyed had replaced canceled travel plans with a road trip of some sort.

Related: I Drove Cross-Country During the Pandemic — Here’s What I Learned

Another sign of the times, public transportation has become a highly undesirable way to get from place to place. A Statista survey conducted in April found 38 percent of respondents said they had begun avoiding crowded modes of public transport. It’s a shift that’s not likely to reverse course any time soon.

The gym industry has also taken a beating this year as have the exercise habits of Americans in general, with many hesitant to spend extended periods of time in confined spaces with fellow exercisers who are sweating and breathing heavily.

As Time reported, sweeping and repeated lockdowns have made Americans more sedentary than ever before and the effects are likely long-lasting. One survey reported by Time revealed a 32 percent reduction in physical activity among U.S. adults who had previously been meeting recommended exercise guidelines. Meanwhile, many gyms and personal trainers began offering virtual exercise sessions in 2020 in order to stay afloat, bringing their services to our living rooms for a change. No more rushing to get to your gym in time for an exercise class.

Related: 18 Fitness Challenges to Keep Pace (and Your Distance) During the Pandemic

While carrying cash was largely becoming a thing of the past prior to 2020, the COVID-19 outbreak has hastened this trend. It’s not unusual to walk into a store these days and see a sign that says “Credit cards preferred.” That April Statista survey found that cash is being used far less day-to-day by 36 percent of survey respondents. For those still not clear on the why behind this shift in daily life — a scientific study explains that “paper currency by its very nature is frequently transferred from one person to another and represents an important medium for human contact.” And as we all know so well now — human contact is the big no-no of 2020.

Related: Cash-Based Businesses That Must Change to Survive in the COVID-19 Era

By: Mia Taylor

.

.

euronews (in English)

A look back at the impact of coronavirus in our ‘Review of 2020’ and how we enter 2021 with a new normal. READ MORE : https://www.euronews.com/2020/12/23/h… Subscribe to our channel: https://www.youtube.com/c/euronews?su… Watch our LIVE here: https://www.youtube.com/c/euronews/live Subscribe to our thematic channels: NoComment: https://www.youtube.com/c/nocommenttv… Euronews Living: http://bit.ly/2sMsaDB Knowledge: https://www.youtube.com/c/euronewskno… Euronews is available on YouTube in 12 languages: https://www.youtube.com/user/euronews…

U.S. Households’ Net Worth Hits Record $123.5 Trillion As Stocks Boom, But Debt Is Also Surging

While unemployment has remained stubbornly above pre-pandemic levels, record highs in the stock market have pushed the net worth of all households in the U.S. to a new high, despite the fast growth in household debt.

The net worth of households in the United States climbed to $123.5 trillion in the third quarter, up 8% from a year ago, the Federal Reserve said in a report Wednesday.

The Fed, which calculates net worths by subtracting overall debt held from the sum of assets like savings and equities, attributed the gains to the surging value of stocks, which jumped $2.8 trillion in the third quarter, as well as real estate, which increased in net value by $400 billion.

PROMOTEDJapan BRANDVOICE | Paid ProgramJapan Is Innovating Mobility As A Service And Creating A $61 Billion MarketTableau BRANDVOICE | Paid ProgramRevisiting Our 2020 Data Trends Predictions. How The Pandemic Changed Our Outlook For The YearSquare BRANDVOICE | Paid Program6 Tips for Omnichannel Marketing Success

Meanwhile, household debt, which includes mortgages, credit card debt and personal loans, jumped at an annual rate of 5.6% in the third quarter, reaching $16.4 trillion; that’s the fastest growth this decade, beating out a 3.9% increase in 2017.

Business debt fell 0.9% to $17.5 trillion in the third quarter, while federal government debt jumped 9.1% to $26 trillion.

CRUCIAL QUOTE 

“We’ve seen home prices rise, market prices for tradable instruments rise and savings increase… but those gains skew to upper income people,” KPMG Chief Economist Constance Hunter told the Wall Street Journal. “It’s a vicious cycle,” she added of the pandemic’s disparate impact on lower-income Americans. “Not only are lower-income households more impacted, they also are less likely to have the resources to draw upon to support their families.”

KEY BACKGROUND

The S&P 500 jumped 8% in the third quarter, while the tech-heavy Nasdaq Composite soared nearly 12%, and both have reached record highs in the fourth quarter–as has the Dow Jones Industrial Average. But far from everyone benefits from those gains. According to a Gallup poll in March and April, just 22% of Americans making less than $40,000 annually said they owned any stocks, compared to 84% of people making at least $100,000 per year.

TANGENT

There were 10.9 million unemployed people in the country last month, when the U.S. economy added a much lower-than-expected 245,000 jobs, according to data released by the Bureau of Labor Statistics last week. The number of unemployed people in the U.S. remains more than three times higher than it was before the pandemic, during which 22 million Americans have been forced into unemployment.

FURTHER READING

U.S. Household Net Worth Hits Record in Third Quarter (WSJ)

Unemployment Claims Spike Again As Covid-19 Spreads And Americans Wait For Federal Relief (Forbes)

10.9 Million Americans Are Still Unemployed—Rate Ticks Down To 6.7%, But Job Market Could Take Years To Recover (Forbes)Follow me on Twitter. Send me a secure tipJonathan Ponciano

I’m a reporter at Forbes focusing on markets and finance. I graduated from the University of North Carolina at Chapel Hill, where I double-majored in business journalism and economics while working for UNC’s Kenan-Flagler Business School as a marketing and communications assistant. Before Forbes, I spent a summer reporting on the L.A. private sector for Los Angeles Business Journal and wrote about publicly traded North Carolina companies for NC Business News Wire. Reach out at jponciano@forbes.com.

.

.

Wall Street Journal

What’s News: American household net worth jumps $10 trillion to $80.7 trillion. Prosecutors charge four former leaders of defunct law firm Dewey & LeBeouf with fraud. Staples is closing 225 stores. Joanne Po reports. Photo: Getty Subscribe to the WSJ channel here: http://bit.ly/14Q81Xy Visit the WSJ channel for more video: https://www.youtube.com/wsjdigitalnet… More from the Wall Street Journal: Visit WSJ.com: http://online.wsj.com/home-page Follow WSJ on Facebok: http://www.facebook.com/wsjlive Follow WSJ on Google+: https://plus.google.com/+wsj/posts Follow WSJ on Twitter: https://twitter.com/WSJLive Follow WSJ on Instagram: http://instagram.com/wsj Follow WSJ on Pinterest: http://www.pinterest.com/wsj/ Follow WSJ on Tumblr: http://www.tumblr.com/tagged/wall-str… Don’t miss a WSJ video, subscribe here: http://bit.ly/14Q81Xy More from the Wall Street Journal: Visit WSJ.com: http://www.wsj.com Visit the WSJ Video Center: https://wsj.com/video On Facebook: https://www.facebook.com/pg/wsj/videos/ On Twitter: https://twitter.com/WSJ On Snapchat: https://on.wsj.com/2ratjSM

COVID-19 Has Changed The Housing Market Forever

Amid all the uncertainty brought on by COVID-19 over the past six months, one thing is assured: the pandemic has re-ordered real estate markets across the board on an unprecedented scale.

Some of this may be irreversible. Real estate’s re-sorting this time isn’t just based on markets crashing (the Great Recession), political turmoil (the 1979 oil embargo), or financial speculation (the first and second dot.com busts)—after which there’s generally confidence that overall consumer demand and buyer preferences will sooner or later snap back to normal.

Thanks to the COVID-19 pandemic, more deep-seeded, tectonic-sized questions beyond markets and interest rates are being asked this time around that no one really has the answers to yet—like will people feel safer living in the south and southwest where they can spend all year social distancing outside? What if companies let workers work remotely for the rest of their lives? Why go back to retail shopping when I’m already ordering everything online? What’s the point of living “downtown” if half of the restaurants, bars, and museums never open back up?

How these questions get answered will fundamentally re-order how Americans live in the “new” pandemic normal, and as a result will play a huge X-factor in which cities and states will experience growth, demand, and price appreciation over the next 3-5 years, and which ones will stagnate and lose out. More broadly for large metropolises like Washington, D.C., New York City, and Philadelphia, the answers risk slowing or even reversing a wave of gentrification and wildly profitable downtown revitalization that’s been accelerating since before the Great Recession.

Crowded subway station, Washington DC, USA
Crowded Washington, D.C. metro station. In the COVID age Americans are seeking less density, more … [+] getty

PROMOTED Civic Nation BrandVoice | Paid Program Making The Case: The Role Of Faculty In Student Voter Engagement UNICEF USA BrandVoice | Paid Program 1 In 3 Of The World’s Children Poisoned By Lead Grads of Life BrandVoice | Paid Program There Are 6 Million Black Workers Missing From Your Talent Pool

Against this backdrop, real estate’s new normal is also creating huge swathes of opportunity. Dozens of cities and counties that were once considered too small, too southern, too hot, too flat, or lacking in amenities, culture, or sophistication are now finding themselves being swooned to the top of the real estate desirability lists as Americans seek warmer, healthier, less dense, better educated, and more mobile places to live that offer closer access to the outdoors, better hospitals, and more open space with no clear end to the pandemic in sight. 

To get a better view on what’s really happening to real estate in America right now I decided that it was time to do a deep dive into the actual data from the experts—including CoStar, Zillow, and Realtor—on how COVID-19’s great migration is actually shaking out and where the money and bodies are moving.

Here’s what I found out.

Downtown Miami Brickell at dusk
Downtown Brickell Miami. Real estate platforms like Zillow and CoStar show Americans are moving … [+] getty

No matter who I spoke with, a few words kept resurfacing as we lurch into the post-pandemic future: warmer, safer, smaller, stabler, lower taxes, less regulation, and fewer lockdowns.

Regardless of where people come from or where they’re going, these things aren’t new on the list of what most Americans generally expect from the places they live, especially as they get older. (Northeasterners have been moving south and west for generations). The more interesting pandemic sub-text is the acceleration factor—and how the places where Americans are moving in the midst of COVID-19 may finally be expressing a more fundamental preference for how they really want to live instead of where they have to stay because of their job location or where their kids go to school. It also says a lot about where many American’s heads are right now, and more importantly, the specific criteria with which they’re considering making one of the most important next decisions of their lives in an era of unprecedented uncertainty.

The repercussions of America’s great COVID migration has the potential to re-shuffle the essential demographic and economic balance of America for the next generation. Realtors, investors, and politicans should be paying attention.

Real estate agent wearing a facemask while showing houses during the COVID-19 pandemic
The COVID-19 pandemic has transformed America’s real estate market forever getty

By every metric, Americans are moving faster now than they were before the pandemic.

Page-per-property views on real estate platforms like Realtor and Zillow are up over 50% year-over-year almost everywhere, inventory in America’s 100 top metro markets has been shrinking since March, along with days on market and the gap between list-to-sale price. A lot of real estate experts prefer the word “despite” when it comes to accounting for this phenomenon while the pandemic’s still raging, when it’s probably more accurately “because of”.  

“Real estate markets have undergone noticeable shifts since the start of the coronavirus pandemic,” George Ratiu, Senior Economist at realtor.com tells me. “In the wake of the lockdowns in March, Americans discovered that existing homes were not adequate for the new work, teach, exercise, cook and live at home reality. Based on realtor.com surveys of consumers, we learned that home shoppers are looking for more space, quieter neighborhoods, home offices, newer kitchens and access to the outdoors, traits which have revived a strong interest in the suburbs and smaller metro areas.”

Brick residential buildings along a tree lined sidewalk
Boston. Still rock solid when it comes to its real estate market even during the COVID-19 pandemic. … [+] getty

The other clear trend since the COVID-19 pandemic began is that residential real estate is on a tear virtually everywhere.

Previous recessions and economic shocks tended to pull some regions down while sparing or barnstorming others. This time, so far, every region’s a winner—as Americans put more stock in their quality of life, work, walkability, and community when it comes to where they root themselves next other than just the cables that previously tied them to their workplaces.

The Northeast real estate market remains strong, despite all omens otherwise since New York City was the original epicenter of COVID-19 flight back in March, and the overall low-tax, lower regulation trends across the country that aren’t in the region’s favor. According to realtor.com’s most recent data, five of America’s hottest real estate markets are in New England—Rochester, NY, Melrose, MA, Portland, ME, Hudson, NH, and Worcester, MA—each of which ranked in the top ten across more than three categories including lowest days on market, list-to-sale ratio, or page views per-property.

Columbus, Ohio
Columbus, OH. Home to three of Zillow’s hottest real estate market’s during the COVID-19 pandemic in … [+] getty

Data crunched by real estate platform Zillow’s research group paints a similar picture of strong regional growth across small cities as well suburbs within an hour of established major metro areas. I had Zillow look at the 100 largest metro areas based on five metrics—median sale price, median list price, days to pending, share of listings with a price cut, and page views—and grabbed the top and bottom seven in each one.

At the top of Zillow’s list as of October 2020, three of America’s hottest real estate markets are in Ohio: Columbus, Cincinnati, and Dayton. Boise and Salt Lake City also made the list, along with Stamford, CT outside of New York City. Austin came in number one. Louisville, KY, Memphis, TN, Honolulu, and Des Moines, IA were at the bottom on Zillow’s aggregate list, though Zillow’s economists were quick to point out that in today’s market that means “less good”.

“Even the coolest markets in America right now are generally performing well and tilted in favor of sellers,” says Cheryl Young, senior economist at Zillow. “There’s a lot of demand for housing right now and homes are typically selling quickly for prices above what we were seeing last year. It’s also worth noting that the bottom performers for the most part aren’t decreasing. They’re just increasing at a lower-than-average rate. The residential market is on fire right now in most of the country, so these ‘coolest’ markets aren’t necessarily doing all that poorly.”

Woman working on laptop in home office
Why wouldn’t you work here? getty

Trends show Americans are also still moving where businesses move, despite the work-from-home trend accelerated by COVID-19. Even if Americans don’t have to show up to the same office every day, the tax base, culture, vibrancy, hospitality backfill, and infrastructure (think school districts) that a thriving business and entrepreneurial community supports long-term is one of the essential underpinnings of a successful residential real estate market.

From this perspective, COVID is accelerating demographic trends that were already in place before the pandemic, especially when it comes to businesses seeking places to expand that are pro-growth, low-tax, politically stable, and stacked with an educated work force in advanced degrees like engineering, math, technology, business, and law. Austin, Salt Lake City, Raleigh, Charlotte, Nashville, and San Jose all top the list in 2020 in this respect according to CoStar, with occupied office growth expected to exceed 10% over the next five years. Dallas, Miami, Phoenix, Atlanta, San Antonio, and Boston aren’t far behind—all expected to grow by 8%+ as of Q3 2020 according to CoStar.

“Businesses will continue seeking low-cost alternatives to more expensive coastal markets COVID-19 or not, which has fueled growth in markets like Atlanta, Phoenix, or Dallas, though workers that might have once opted for downtown living have shown a preference for suburban locales in recent months,” says Andrew Rybczynski, Managing Consultant at CoStar. “Smaller, well-educated markets with similar structural advantages, like Raleigh, Charlotte, or Austin also qualify, especially because of their attractive workforces. While COVID and the recession it caused will hurt business growth and office absorption, we expect the structural advantages of many southern and southwestern markets to continue through foreseeable future.”

Aerial View of Spaghetti Junction in Atlanta, GA
Atlanta has been preparing for growth for decades. It’s time may finally be coming getty

When Rybczynski refers to “structural advantages”, what he means is governance. Using a simple measure of tax burden, CoStar correlates a rough relationship between lower taxes, pro-business governance, faster growth, and increased in-migration—all of which are currently skewing towards American metro areas with local and state governments that are willing to keep regulations and business costs low in exchange for job growth and economic opportunity.

For what it’s worth, these “structural advantages” also skew politically. 10 of 12 of America’s cities forecasted to experience the fastest growth in occupied office space according to CoStar over the next five years have Republican Governors, Legislatures, and Mayors. Nine of the top 15 cities where businesses are relocating and mopping up office space are in three states that predominantly lean Republican—Texas (4), Florida (3), and North Carolina (2)—including Austin, Dallas, San Antonio, Houston, Miami, Tampa, Orlando, Raleigh, and Charlotte respectively.

Ogden, Utah
Ogden is the county seat of Weber County, Utah outside of Salt Lake City and one of Zillow’s hottest … [+] getty

At the same time, however, Americans and its companies are not always moving in the same direction, suggesting a de-coupling of one of the most fundamental drivers of American migration for generations—namely people living near where they work. In some instances there’s overlap, like Austin, Raleigh, Columbus, and Salt Lake City. But overall Americans appear to be moving during the pandemic for more personal reasons than being simply motivated by employment or corporate relocation.

“The hottest housing markets in the new landscape are cities which offer desirable amenities—larger homes, leafy neighborhoods, access to the outdoors, walkability and proximity to grocery stores—in a more affordable package,” says realtor.com’s Ratiu. “Home buyers still want to be within commuting distance of large employment centers, but with the prevalence of remote work, they are willing to extend the distance from urban downtowns.”

In addition to the five Northeastern locations on the top of realtor.com’s hottest real estate markets to watch list right now, Colorado Springs, CO, Columbus, OH, Topeka, KS, Springfield, VA, and Raleigh, NC also ranked in the platform’s top ten in at least three criteria for precisely these more emotional reasons, say Ratiu.

Joint rest. Guy and girl relaxing on couch with hands clasped behind head.
Thanks to the COVID-19 pandemic America’s next generation of homebuyers is searching for something … [+] getty

“The current housing market is driven by several noteworthy factors. First, America’s demographics are skewing younger as the Millennial generation—the largest in U.S. history—is finally embracing home ownership. Second, the technological promise of the mid-1990s of freeing workers from their desks has come of age in 2020, as the coronavirus-induced quarantine has forced employers to rely on workers working-from-home. Americans have been resoundingly successful at navigating this transition, and in the process, discovered the benefits of shorter commutes and the flexibility of being able to work from anywhere.

In turn, this has shifted consumer preferences for housing, driving the transition into suburbs, smaller cities, second-home destinations and even rural areas. Third, riding in the wake of a decade’s worth of home price appreciation which has outpaced income growth, many Americans are seeking affordability again, leading many buyers into suburban neighborhoods and away from high-cost, high-density urban downtowns.”

Who’s notably absent from all the data?

Not a single city in California or the Pacific Northwest ranked anywhere near the top of anyone’s “Best Of” lists in terms of where Americans are moving, which suggests that the effects of COVID’s first flight from coastal cities last March may be fossilizing permanently. New York City, Long Island, northern New Jersey, Honolulu, Chicago, and Philadelphia were also conspicuously in the basement, reinforcing America’s net emotional migration away from high-priced real estate markets as well as high-tax, high-lockdown urban locations.

So what’s the bottom line? Keep your bathing suit and laptop ready to pack. The longer COVID-19 continues to push Americans into the “new” normal, the more of us will be moving south and west, working by the pool. Sometimes it’s worth just rolling with the data. Follow me on Twitter or LinkedIn. Check out my website.

Peter Lane Taylor

 Peter Lane Taylor

I’ve always been addicted to people who live their lives to the fullest. Most people’s memories fade over time. Mine become more crystal clear every day because forgetting them would be unforgivable. I’ve sailed to Antarctica, rappelled into an active volcano, shanked drives on the most exclusive golf courses in the US, eaten thymus cooked by one of the finest chefs in America, and smoked Cuban cigars in Havana’s cafes before most people even knew the Cold War had ended. I shoot the vintage Holland & Holland shotgun that my grandfather gave me every chance I get just because I can. The most adventurous and successful lives are lived without guilt, regret, or fear. I’m currently working on the biography on Hollywood’s top stuntman. Contact me at peterlanetaylor@earthlink.net

.

.

Mortgage rates are now at their lowest point in history and they seem poised to go even lower. Danielle Hale, chief economist at Realtor.com joined Yahoo Finance’s The First Trade to discuss the possible impact the coronavirus could have on the housing market. #coronavirus#mortgagerates#housing market Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. Connect with Yahoo Finance: Get the latest news: https://yhoo.it/2fGu5Bb Find Yahoo Finance on Facebook: http://bit.ly/2A9u5Zq Follow Yahoo Finance on Twitter: http://bit.ly/2LMgloP Follow Yahoo Finance on Instagram: http://bit.ly/2LOpNYz

%d bloggers like this: