![housing](https://garyacosta.com/wp-content/uploads/2021/05/housing.jpg)
In a recent memo to chapter leadership, NAHREP gave the green light to begin planning live events, subject to state and local health protocols. NAHREP will also host its first regional event in Miami on July 13th. The event will take place at the JW Marriott in Brickell and will take on one of the biggest issues facing the industry: housing supply. This week, my wife and I started looking at investment properties in Colorado Springs, CO. Our son will be entering his senior year at Colorado College and we thought we should look into purchasing a single-family home that he and a couple of his classmates could live in; we could rent it out after he graduates next May. We spoke to a couple of local real estate agents and found out first-hand what everyone has been talking about. This is insane…On Friday, a property that looked ideal was listed. The listing agent immediately began scheduling appointments with buyers and selling agents. We were told that all prospective buyers must submit their offer no later than noon on Sunday. Our Realtor® told us that to have a chance, we would have to offer a minimum of 10%-20% over the listing price with little or no contingencies and they were expecting roughly 75 offers. WTH??? This isn’t a hot market; this is a crisis!
I am really looking forward to getting back to live events, and digging into the most challenging issue confronting the real estate industry in over a decade.
Regardless of political persuasion, most people think the rhetoric of politics has gotten out of control. If you believe that, as I do, there IS something you can do about it. You can ask yourself whether you are helping or hurting the situation. I like to say that there are two types of people in the world: people who add stress and people who relieve stress. I think similarly, some people are adding to the political spectacle in the country, and others are at least trying for something better.
Gary's Blog will return next week.
This past week, the National Association of Realtors invited me to participate in a meeting with the NAR leadership and Jonathan Kanter, the Assistant Attorney General of the United States.