Is the trend your friend or what is the trend exactly?

Is the trend your friend or what is the trend exactly?

If you watch @CNBC these days you would think that the sky is falling. There is so much talk about recession and efforts to foment a sense of panic but I like to form my own opinion on anything. I started out in real estate in DC in 2021 as a notary signing agent closing real estate transactions. It was the ultimate pandemic side hustle and there were people on YouTube claiming that they were making 6 figures as notary signing agents. It was pretty busy for a while with closings and refinances from title companies and signing agencies. Most of my signings were in Georgetown because that was where most of the investors were. My first signing was for a couple that bought their college graduate daughter a house around the corner from Boulangerie Christophe, www.boulangeriechristophe.com and I had at least 2 signings a day in Georgetown. When interest rates went up, all that irrational exuberance in the housing market came to a grinding halt. I can't remember the last time I had a closing in Georgetown. Most notaries went back to corporate jobs when the phones stopped ringing this year. The refinance industry especially, has taken a nosedive as people stopped borrowing against their homes with rising rates.

My phone started ringing again for notary work recently. There are a number of people still buying and selling houses when they find the right opportunity. Strangely enough I am getting calls for the odd refinance and Helocs are picking up again. I guess people just take a loss when they are in desperate circumstances. Investors are rubbing their hands with anticipation as more opportunities present with distressed sellers. There is one investment company in DC I close for on a regular basis that buys houses in second-tier markets and they have continued buying at the same pace. I am also starting to see closings for bundles of nonperforming loans. This is not a subject I am familiar with but sophisticated investors are finding plenty of pickings in that market.

Now that I am a commercial real estate agent, I am getting calls from investors around the US looking for multifamily buildings in the DMV. And there is steady local demand for churches and religious buildings. Most landlords are not keen on churches because of noise but that is mainly on Sundays. Plus churches need a lot of parking space which presents an added challenge. Then there is also house-flipping which is back on the upswing as more sellers fall into distress and the flippers step in. Baltimore is a popular market for house flipping but I don't know enough about it yet. The DC market is more excited about condo-conversions and the city leads the nation in condo conversions. We are waiting for the District to finalize the tax incentives for condo conversions as they will go a long way towards revitalizing the downtown area.

When it comes to reading trends in real estate, I am wondering which are the best data-driven market reports I can follow. Most brokerages have their own research department and I think Marcus & Millichap, www.dhirubhai.net/company/marcus-&-millichap, does a great job of covering the multifamily building market but where would I go if I wanted to get data to create my own visualizations of current trends? I am learning Tableau and business intelligence tools but the real estate industry is not quick at adopting technology. I get calls all the time from vendors trying to sell leads and while I don't but those, I find that the right leads can cut your prospecting dramatically.

Finally, there is nothing better than just meeting real estate investors and networking to find out what is going on. I set up the Washington DC Real Estate Investors @Meetup and this Friday we have a meet and greet #Meetup at 5pm at Hotel Zena on Thomas Circle, www.meetup.com/meetup-group-puzcohnx/events/289680977/ as we start to build a community of real estate investors in Washington DC. Everyone is welcome and in future we would be looking for speakers and sponsors. I have been making changes in my business to focus purely on DC so I need a deeper understanding of the market and to meet people.