Mortgage News March 25, 2022

Townhome Popularity Skyrocketed in 2021

More builders and buyers have turned to townhomes over the past year. The smaller homes made up nearly 13% of all single-family new construction in 2021, up almost 38% from the previous year.

This increase in popularity can be attributed to multiple factors. Lower material costs, faster build times, and even lower utility bills appear to reign supreme for buyers. Data also found a preference for townhomes within two groups: first-time buyers are drawn to the lower price point, while retirees are looking to downsize for less upkeep.¹

Three Tips to Curb Public Speaking Fears

Does the mere thought of public speaking leave your heart pounding? You're not alone. More than 15 million people (about twice the population of New Jersey) deal with glossophobia -- the fear of public speaking. Here are three tips to follow when speaking at a seminar or conference:

• Be prepared
  Sellers whose listings are about to expire may be frustrated about the amount of time it's taking to sell. You'll want to include lots of questions and empathy in your script.
• Focus on the story
  The best presenters are conversational, not stilted. Focus on sharing a story with your audience instead of reciting memorized lines.
• Roll with it
  Flubs happen -- and when they do, it's important to stay flexible. You can even let your audience in on your mistakes, getting them to laugh along with you.²

Anxious First-Time Buyers? Go For the Win-Win with These Tips.

In today's competitive market, this year's first-time buyers are excited about their purchase -- but many of them are concerned about inventory and prices. Here are some strategies for easing their anxieties while building their confidence:

• Ease worries by reminding buyers that even if the market appears bleak, you'll keep working until you locate their first home.
• Check in with them every week, even if there are no new homes for sale in their price range.
• Stay in regular communication during every phase of a potential purchase, so they'll never worry about missing out. A phone call is generally better than a text or email.³

TikTok Increases Video Lengths to 10 Minutes

If you're using TikTok to increase your reach, good news: users are now allowed to post videos up to 10 minutes long. The change could be good for real estate agents to film and share comprehensive home tours, neighborhood introductions and educational content.

TikTok originally limited videos to just 15 seconds but expanded the maximum length after seeing how popular three-minute videos were with viewers. The app can be a beneficial tool for any business planning to expand its audience and increase leads.⁴

Three Tips for Productive Mornings

Mornings set the tone for the rest of the day. Make the most of your mornings with these tips:

• Focus on the essentials
  Replace time-eating activities with tasks that provide lasting peace of mind during the week. Add activities like a 10-minute meditation to destress, or a 30-minute strategy session.
• Minimize distractions
  For many people, social media and web surfing are their biggest distractions. Reduce these activities by setting a time limit or saving your scrolling for after you've tackled high-priority tasks.
• Create a productive workspace
  A clean desk can encourage a productive mindset. Eliminate clutter and optimize your workspace to suit you and your working style. <⁵

Sources: ¹magazine.realtor, ²inman.com, ³magazine.realtor, ⁴realtybiznews.com, ⁵theamericangenius.com