Where Are We Now In The Real Estate Cycle?
There have been identifiable real estate cycles in North America for hundreds of years. The peak of most of these occurs about every 15 to 23 years. The four phases of the cycle are: 1. Recovery from the previous recession. 2. Expansion. 3. Hyper Supply. 4. Recession again.
Clearly we have been in an expansion for the past 5 or 6 years that’s been particularly steep— and on track to be longer than past expansions. Unclear is what is going to happen next. Usually we see a glut of homes on the market as more and more people try to sell, at the same time as new construction ramps up, and the economy slows down. But this has been an unusual expansion, so it stands to reason we’re in for an unusual contraction. I can only speculate on what that looks like...which I won’t do here. While I hate to speculate, I will say that there has always—always—been a contraction. When will that occur? Indicators are muddled due to changes in technology and the effects of COVID. It could be many more years of expansion. Or just a few. The best advice I can give right now is move when you want and buy what you can afford. Even if you pay a premium, you’ll be in a home of your own, and that makes all the difference.
No Relief In Shortages Of Appliances, Furniture High demand for home products continues to cause supply chain disruptions throughout industries related to real estate. Shortages of appliances, furniture, and building materials are most acute and not expected to ease any time soon. The problem largely began at the start of the COVID-19 pandemic. Lockdowns—during which time demand soared as many people started remodeling their homes—disrupted supply chains. The shortages also came from foreign suppliers who contribute appliance materials and parts, Gay Cororaton, director of housing and commercial research at the National Association of REALTORS®, told bankrate.com. “The pandemic has impacted production in the U.S. manufacturing plants, as factories have to operate with less workers onsite or on staggered shifts as part of social distancing precautions,” Cororaton said. Earlier this year, nearly 90% of builders said they were having difficulty securing appliances, according to a survey from the National Association of Home Builders. Some new-home buyers are having to wait out delays or make compromises for appliances. Furniture shortages also abound. The furniture industry has reported delays of four months or longer, according to the Commerce Department.
Should We Get A Buyer’s Agent? What Does That Cost? Some agents work only with buyers by choice, and they might call themselves “buyer’s agents.” But in fact, they don’t need any special training to call themselves a Buyer’s Agent. Any agent you work with can be a “buyer’s agent,” just by signing an agreement that they will work solely on your behalf. Without that written agreement, the agent is contractually obligated to work on behalf of the seller. That’s because the seller is actually paying the commission for all agents involved. That means even if you “hire” a buyer’s agent, you don’t have to pay the agent. Buyer’s agent fees are free to buyers because the seller pays the fee.
Even though all agents can be Buyer’s Agents, there are certain features that agents can emphasize to highlight their buyer representation, such as understanding the nuances of buyer contracts, and being willing to show homes. So no matter what agent Paint shortages, which could hamper summer home improvement you work with when buying a home, make sure you sign a buyer-agent agreement. Call me first! projects, also are being reported.
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August. 2021 • Issue No. 28
Sports
Movie Releases
Featured Recipe
Baltimore Orioles at New York Yankees August 2nd - 4th
Grape-Margarita Paletas
The Suicide Squad
Prep Time: 15 min • Cook Time: 15 min • Total time: 30 min
Ingredients • • • • • • •
2 pounds stemmed seedless red grapes 3 tablespoons granulated sugar 2/3 cup water, divided 1/4 cup Blanco tequila 1 1/2 tablespoons fresh lemon juice 1/2 teaspoon kosher salt 6 tablespoons thinly sliced seedless red grapes
Free Guy
Available for Streaming August 6th, 2021.
Available for Streaming August 13th, 2021.
Harley Quinn, Bloodsport, Peacemaker, and a collection of nutty cons join the super-secret, shady Task Force X as they are dropped off at a remote island.
A bank teller discovers that he’s actually an NPC inside a brutal, open-world video game.
Detroit Tigers at Baltimore Orioles
Washington Nationals at New York Mets
August 10th - 12th
August 10th - 12th
Atlanta Braves at Washington Nationals
Baltimore Orioles at Tampa Bay Rays
Toronto Blue Jays at Washington Nationals
Atlanta Braves at Baltimore Orioles
Washington Nationals at Milwaukee Brewers
August 13th - 15th
August 20th - 22nd
Washington Nationals at Miami Marlins
Tampa Bay Rays at Baltimore Orioles
Washington Nationals at New York Mets
Available for Streaming August 20th, 2021.
Mortal Kombat Legends
Available for Streaming August 31st, 2021.
A scientist discovers a way to relive your past and uses the technology to search for his long-lost love.
The Earthrealm heroes must fight for the survival of their homeland, in the tournament to end all tournaments.
Baltimore Orioles at Toronto Blue Jays
August 24th - 26th
Reminiscence
August 27th - 29th
August 30th - September 1st
August 24th - 26th
August 27th - 29th
Philadelphia Phillies at Washington Nationals August 30th - September 1st
August 21st
Baltimore Ravens at Washington Football Team August 28th
Washington Football Team at New England Patriots August 12th
Cincinnati Bengals at Washington Football Team August 20th
Washington Football Team at Baltimore Ravens August 28th
Trivia Challenge
Things To Do
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Baltimore Ravens at Carolina Panthers
August 17th - 18th
Los Angeles Angels at Baltimore Orioles
2. Transfer grape mixture and juices to a food processor; pulse until finely chopped and juicy. Press mixture through a wire-mesh strainer into a bowl for about 1 1/3 cups juice mixture; discard solids. Stir in remaining 1/3 cup water. 3. Stir together grape juice mixture, tequila, lemon juice, and salt. Place 1 tablespoon grape slices into each of 6 molds. Divide grape juice mixture among molds. Insert craft stick and freeze until firm.
August 6th - 8th
Baltimore Orioles at Boston Red Sox August 13th - 15th
New Orleans Saints at Baltimore Ravens August 14th
Washington Nationals at Atlanta Braves
August 6th - 8th
August 20th - 22nd
1. Preheat oven to 425°F. Place whole grapes on a rimmed baking sheet. Sprinkle with sugar and 1/3 cup water. Bake for 15 to 20 minutes, stirring once after 10 minutes.
August 2nd - 4th
Tampa Bay Rays at Baltimore Orioles
August 16th - 19th
Directions
Philadelphia Phillies at Washington Nationals
International Food & Craft Fair
Wine and Dine in the Garden
August 1st, 2021.
August 11th, 2021.
August 26th - September 6th, 2021.
A celebration of the Nations! From great food to crafts and music, this festival is guaranteed fun for the entire family!
Dine al fresco at the William Paca Garden, the crown jewel of Annapolis. Experience a four-course dinner with a special menu as you enjoy the beauty of our picturesque English Garden.
The 140th Maryland State Fair is a fun and educational destination sure to captivate visitors of all ages! No other event provides so much food, fun, and family entertainment for so little.
Howard County Fair
Back To School Bash
August 7th - 14th, 2021.
August 14th, 2021.
Out of This World Drive-In Night
75th Anniversary! Enjoy livestock shows, commercial exhibits, petting farm, rides, horse shows, entertainment, home arts, horse and tractor pulls.
Music, games, food trucks, drinks, and more! School supplies and backpacks will be donated to children and teens of all ages.
The 2nd annual fundraiser will be held at Bengie’s Drive-In Movie Theatre and will feature E.T. the Extra-Terrestrial. All funds raised will support veterans.
Community Days at the B&O
Clarksville Sunflower Festival
Muddy Princess Maryland
August 8th, 2021.
August 14th - 29th, 2021.
August 29th, 2021.
We’re thankful for the opportunity to offer free Museum admission members of our community can enjoy special programs, tours, kids’ activities, and free train rides at the B&O.
Come join us on Mary’s Land Farm to experience the beautiful 5-acre field full of sunflowers! Enjoy a beautiful day walking around the fields then browsing our food trucks and vendors!
This outdoor 3.1-mile obstacle mud run is for women ONLY. Be prepared to run, walk, crawl, climb, slide, and laugh your way along our course for an amazing “girls dirty day out!”
Maryland State Fair
August 26th, 2021.
August. 2021 • Issue No. 28
August Trivia Challenge Question The Dog Days Of Summer Are Named After Whom?
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Monthly Trivia Challenge Want to Win a $100.00 Visa Gift Card?
It’s easy to play! Answer the Trivia Challenge question on page 3. Each month, all correct entries have a chance of winning the gift card. It’s time all that seemingly random knowledge you’ve stored up is not so useless after all!
Want to Enter?
Email ClientCare@BREMove.com with the word “TRIVIA CHALLENGE” in the subject line. Good luck!
Last Month’s Question: What movie is this famous quote from? “You’re gonna need a bigger boat.” Last Month’s Answer: Jaws
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Congratulations to Last Month’s Winner! Gretchen Michaels
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August. 2021 • Issue No. 28