Regrouping, Reconnecting, and Re-Energizing at the Compass Retreat in Austin & the Annual Truckee Tree Lighting Ceremony Returns

Held in Austin, Texas, we just returned from the Compass Retreat. As retreat rookies, Valerie and I attended for the first time, and we were utterly blown away by the caliber of this event. Did you know, Compass agents do 3.5x the sales volume of other agents across the nation. As our Founder and CEO, Robert Reffkin, says, "Compass has invested in a 1500 person technology team." This event was an amazing opportunity to connect with top agents from around the country and learn from the brightest minds in real estate.

Valerie Forte & Christy Deysher of Tahoe Real Estate Advisors at restaurant Perla, there for Compass Retreat in Austin, Texas

I also had the chance to meet real estate guru, Tom Ferry while at the conference. It was definitely a bit of a star-struck moment for me!

Compass gives you all of the tools you need to succeed in real estate, and I am so grateful to be a part of such an amazing company. This event offered so many networking opportunities which will enable our team to better serve clients in the future. Cheers to Austin, Texas, thank you for your kindness and hospitality!

Meeting Tom Ferry at the Compass 2021 Retreat in Austin, Texas

What's Really Behind Today's Competitive Real Estate Market

It's common knowledge that today's real estate market is very competitive, and due to extreme demand and record-low supply, we are in the midst of a strong seller's market. If you're looking to enter the market, what will this look like for you? Read on to get a glimpse into what's behind the current real estate situation.

What's driving the high demand?

There are a few key reasons as to why the demand is at the high it is today. One key reason is that due to the pandemic, many people have been working remotely. With a shifting daily routine, many people need to reassess what they need in a home. 

Throughout much of the United States, we are looking at historically low mortgage rates. Low mortgage rates have been good for buyers previously excluded from the market, causing more potential buyers to have the option to enter into the market. However, this has also caused an imbalance - since the supply has not matched the new influx of demand. 

Millennials are the largest generation currently, and many in this age bracket are looking to enter the market. Another new generation has aged into the homebuying age. These factors all combined have been significant contributors to the spike in demand. 

Why is supply so low?

Supply is at an all-time low. Similar to the spike in demand - limited housing supply doesn't exist because of one single factor. There has been insufficient new housing construction for more than a decade to keep up with population growth and real estate market trends. There is more evidence of a housing crisis than ever before, and California is one of the first states to look to for signs of a burgeoning supply problem.  

The pandemic has also factored into the supply side. Most working remotely looked to relocate to a home that would work better for their lifestyle, while others have been more hesitant to sell. The pandemic has caused financial instability in many households, so many homeowners have decided to stay put for longer. 

What does the future of real estate look like? 

While the current situation may seem less than ideal for new buyers to enter the market, the reality is that prices are likely to continue to rise. One silver lining is that experts predict they will increase at a slower pace than they have in the past few years. All in all, if you've got your eye on that dream house right now but are waiting for prices to drop, it may not happen. It may be better to enter the market at the current rates than wait and pay more in the long run.

Goldman Sachs home cost projections

Goldman Sachs projects that home prices -- already at record highs -- will grow another 16% by the end of 2022. Despite price increases of 20% over the past year, the analysts at Goldman Sachs suggest that homes remain "relatively affordable" thanks to historically low mortgage rates. But continued strong demand among buyers and ongoing low inventory will keep pushing prices even higher. Mortgages have risen recently, but far, far from historic highs. (CNN)

COVID- 19 

Sadly, COVID is far from over: The latest wave of Covid-19 cases is hitting Europe with a vengeance, with several countries seeing record numbers of daily infections, imposing partial lockdowns and placing more restrictions on unvaccinated people. On Thursday, Germany shattered a new record, reporting more than 65,000 new cases, with health officials warning that the true number of cases could be two or three times as many. In the Netherlands, more than 20,000 new cases were reported Wednesday, a new record for the third day in a row, and in France, where a fifth wave of the pandemic is underway, the number of new cases topped 20,000 on Wednesday. New cases are up 23% in the USA over the past 2 weeks.

Local Events

Downtown Holiday Festival & Bud Fish Tree Lighting

November 19th, 2021 

4:15 PM - 6:00 PM PST

For more than 35 years, the Truckee Downtown Merchants Association and Truckee Rotary have collaborated to share in honoring Truckee's community. Come in person or watch LIVESTREAM HERE or on Suddenlink Channel 18, courtesy of Tahoe Truckee Media! 

Small trees will be on display, decorated by 600+ local elementary students. TDMA provides holiday lights and festive cheer throughout downtown Truckee. The night culminates in the lighting of the traditional Bud Fish Tree Lighting Ceremony in remembrance of this beloved Truckee community member.