Byron Lazine and Nicole White are two agents in Connecticut who give us their thoughts on the week’s news every Friday in “The Real Word,” a weekly video column on Inman.
During a frenzied, pandemic-induced market, many homebuyers rushed to buy vacation homes. In fact, The Wall Street Journal reported that “the number of buyers who locked in mortgage rates for second homes in February was up 93% from a year earlier.”
But now, interest rates on those types of purchases are going to rise, with Fannie Mae and Freddie Mac limiting the number of second-home loans it purchases to no more than 7 percent. How will new changes from Fannie Mae and Freddie Mac affect those who want to purchase vacation homes? And is this a racket?
More this week: A Zillow survey revealed that 11 percent of Americans moved last year. But which markets saw the biggest influx of homebuyers and why? Byron and Nicole talked through the stats and shared their thoughts on “The Great Reshuffling.”
“With all these moves, if that number is true, 11 percent of Americans moved, there’s going to be a percentage of people that change their minds and move back,” Byron said. “There’s going to be buyer’s remorse.”
“100 percent,” Nicole confirmed.
Marketeer of the week
Are you making videos yet? In this week’s episode, Byron and Nicole talk about 12 video creation ideas real estate agents can use to get started, based on an Inman article penned by Jimmy Burgess.
Want to nominate a “marketeer of the week”? Drop your thoughts in the comments section below, or shoot us an email.
