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Stephen Smith - Outer Banks Realtor Profile
Stephen Smith - Outer Banks Realtor

@StephenSmithOBX

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133
Following
34
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177
Statuses
607

#REALTOR in the #OBX - Real Broker, LLC - Working hard at the beach, so YOU don't have to!

Outer Banks, NC
Joined February 2021
Don't wanna be here? Send us removal request.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
2 months
@AustinLinney The last time I stayed in an AirBnB they had a list on the fridge of like 20 things to do, literally a list of cleaning chores. And then they charged me a $250 cleaning fee for a 3 night stay. It's been all hotels or professionally managed STRs ever since.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
3 months
@rohindhar I don't know why people do that, honestly. Just write "please lowball us repeatedly, we love it."
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
9 months
@RJ_Young This guy is not a leader of men. At no point did he take personal responsibility. "Talked about 2 hands on the ball" - are you serious? @coach_cristobal take a few days off from the recruiting trail and read some books on leadership. Not the RB's fault you screwed up. OWN IT
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
2 months
@NBAPR @NBA @Kia @nuggets @NuggetsPR NBA MVP is the most arbitrary award in all of sports. It's an award based on narrative only. Best player on team w/ best record - SGA Best player & scoring leader - Luka Jokic averaged fewer points than DeAaron Fox. Jokic riding on fumes from last year's finals to this MVP.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
3 months
@nickgerli1 lol that's demand for mortgages at today's rates Not demand for homes If rates drop to 2.5% and everybody starts buying, will it be because demand for homes went up or because of demand for that 2.5% rate? Here's a prediction - if rates go to 20%, apps will drop more Derp. 🤡
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
@SFR_Investor 49% of agents sold 1 or 0 homes last year. You think instead of getting $30k/yr they should get $5k/yr? Attention SFR Investors - I think the "fair" amount to rent a 3BR/2BA is $500/month. If you don't get with the times and charge $500/month, you will not make it. Derp.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
9 months
@XavierRestrepo1 Players didn't let us down X. Never apologize for 12/123. Good to see you guys fight back and take the lead late. The world is ripping UM tonight but make it a footnote and not the story of your season. Hang 40 on UNC and make timeouts irrelevant. Appreciate you.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
@rohindhar I rep 95% buyers. Most of those are investors. Even tire kickers allow you to see every home on the market and gain knowledge. Learning your market inventory is never a waste of time. Take pics like this while you're out. 😎
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
3 months
@gas_biz Come to the Outer Banks in NC! We have big oceanfront houses to fit the whole family and lots of room to stretch out on many miles of national seashore/national park beaches. Bring a 4WD w/ fishing rods & cooler and drive right out onto the beach and fish from your tailgate 🛻🎣
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
@BednarikMatt Bad flashing around decks on multistory homes. Bad flashing around windows. Seen some walls ripped out because water got in thanks to no/improper flashing. And when it happens on 3rd floor of a 3-story home, it can add up.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
3 months
@mortgagetruth Been shouting this from the mountaintops for 2+ yrs now. Imagine what kind of shape the US housing market would be in if not for these big builders offering promo rates. People can bash them all they want but they serve a HUGE need for consumers.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
@contractorkeith Appreciate your sentiments here Keith. I became an agent bc a very sweet lady was my agent for my 1st home purchase & was so protective of me, careful about managing my experience & helping me make a good decision that I never forgot it and wanted to be that person for others.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
7 months
@NMDgrant Happy for Lashlee - he was a good OC for Miami and wish him the best!
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
8 months
@AhmmonR2 AR82 speaking truth here. @theACC conference games have been plagued with blown calls and poor officiating the last 2 years but seems like some phantom call against @MiamiHurricanes every single week. Why stay and tolerate it? Don't be last in musical chairs, join another conf
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
8 months
@BuilderMonk When you go to a restaurant, if the waitress is diligent, experienced, and ensures that your order is accurate and delivered on time, do you struggle to decide whether to tip her 3% (for a small order) or 2% (for a large order)? Sounds lame, right?
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
7 months
@bjpenndotcom The Ogden/Motta fight was ruled no contest bc Beltran stopped it early. Now ppl upset about this late stoppage. What should refs do? How can a UFC ref ever do the right thing? Stop early, get ripped. Stop late, get ripped. Stop "on time" fighter gets up quick & complains.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
3 months
@poisoncity14 @Fire5280 An unimproved vacant lot purchase requires much less work on the buyer-agent side than a residential property That's just a fact Maybe you can come handle all my paperwork for me for really cheap in the future since you think it's just print a form and fill out a few blanks
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
@melissasavenko @WeBuyNOLAHouses Preach. I never do dual agency, have always had an issue with it. Would go a step further though and at listing appointment if seller says 0% commission to buy side I say good luck, next. My RE license too important to navigate those disclosure/liability landmines. Thx NAR.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
9 months
@WallStreetSilv The thing about real estate is, if rates go up to 12% next year you will be glad you bought at 8%. If rates go down to 5% next year you will be glad you bought before prices went up and can refi @ 5%. Just buy what you can when you're ready and comfortable w/ payment.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
5 months
@rohindhar Unintended consequences. Residents want short term rental restrictions, then investors sell off and flee for more welcoming areas. Suddenly a lot of supply appears, pushing prices down. Ppl should think twice about STR restrictions.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
5 months
@skylarromines Very feasible model. My holistic dentist has in-house insurance where you pay like $25/month/person (and can pay using HSA card) and has worked great for my family. Wish more doctor's offices offered that model of care rather than being handcuffed to insurers.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
3 months
@alexforbes__ If you are a true craftsman and you dreamed of being able to work on a project like this, it would be tough to turn down. You might not remember working on 20 other sites this yr (even though it might be better for biz) later in your life but you would always remember this site.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
@melissasavenko I rated that community note as "not helpful" because where do you even begin to address the inaccuracies in the note itself? At no point in my life has there been any kind of "mandatory" 6% commission. It's been a point of negotiation forever. And lol @ that Zillow line. 🤓
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
@texasrunnerDFW @WallStreetSilv The 10-year trend on real estate ownership is undefeated since 1971. Go look at the charts. We haven't seen a 10-year window where home prices declined since Bretton-Woods. 🪙 Every time Fed prints, dollars are worth less, things cost more.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
2 months
@NewsLambert Supply about half of 2019 levels A lot more all cash deals Seasonal spring buying season heating up (so owners can cash STR checks all summer at the beach) Some STR buyers waiting for rates in 5s because of spring 2020 LLPA penalties on 2nd home/investment loans (- cash flow)
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
@CaseyMericle New agents will suffer the most. Will probably be the worst time ever to be a newly-minted agent because harder to show value and experience to sellers & get listings. And listing-only agents will probably promise the moon to get listings & set unrealistic expectations 4 sellers
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
3 months
@HowardRoark90 $1k escalator stepup was your problem. Not the listing agent. Bashing listing agent because seller would rather have $445k cash/fast close vs $446k financed/slow close is weaksauce.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
7 months
@matt_lee80 As a former C myself I always notice NFL C prospects and it was a privilege to watch you play for my Canes this year Matt. You have a bright future ahead of you & I know you will put in the work and maximize your potential. Go be great and rep the U! Hope the 9ers pick you. 😎
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
3 months
@Fire5280 Because a 30k vacant lot doesn't require as much homework and paperwork as a $1m single family home. More disclosure forms, different contract, etc.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
9 months
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
8 months
@NMDgrant Another week, another example of why @MiamiHurricanes need to get OUT of the @theACC ASAP.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
2 months
@contractorkeith Shoddy work on the installation. Probably nailed down all the way on tabs & didn't let panels expand/contract. Will be using Everlast (better than vinyl) on my new house build & instructions are clear not to nail all the way down throughout.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
5 months
@AustinWhittRE Down since June 2022, up since January 2022. You can say prices are up OR down depending on your narrative. I think "hype bois" and "crash bros" are equally misleading to real estate clients & cause harm. I'd rather see that graph than listen to someone tell me what it means.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
2 months
@contractorkeith You're not wrong. Here's the best one in eastern NC -
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
5 months
@rohindhar Glad I don't have to deal w/ it here on the #OBX , STR restrictions in vacation spots cause more problems than they solve. Owners suffer bc of price drops post-restrictions, locals lose out to 2nd home buyers on offers, and the economy/tourism suffers bc of exactly what u said..
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
@texasrunnerDFW @joeknows30a Not surprising. a) town engages in STR restrictions/fees/penalties b) condo HOAs face huge spike in insurance costs c) investors hit eject and say let this be somebody else's problem Investors seek yield. If your town tries to crush STR owners, there are unintended consequences.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
2 months
@leah_walczak I live at the beach and I wear flip-flops almost every day of my life. I own 5 different pairs of them. Fight me.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
@melissasavenko The hate is real I feel like the hate chart right now goes something like Lawyers Used car salesmen Real estate agents STR owners Puppy kickers Not sure how we ended up here. Almost 50% of agents sold ZERO homes last year. Yet some ppl pretend they are making $ hand over fist
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
5 months
@CaseyMericle Your most recent offer or the reduced price, whichever is lower, -5%. If your folks liked the house enough to send an offer on it at X, why wouldn't they want it at 95% of X? Don't let "saving face" get in the way of a client getting a house they want. That would be my approach.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
3 months
@80IQmindset Because a magical wizard can't come back and wave his wand and double the supply of silver on earth in an instant by pressing a button. Because it's been used as money for 2000+ years. Because without proselytizers endlessly pumping bitcoin its intrinsic value is $0
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
6 months
@nickgerli1 Every time I see stuff like this, it blows my mind. How can a guy who brags about being "data driven" cherrypick this hard. Austin isn't even my market but it's so easy to point out Nick's scheme - uses ZHVI not actual sale/list price, overvalued% doesn't go back to 70s, etc
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
5 months
Thinking out loud- One large condo building has 12 units facing the oceanfront and 24 units with some/no ocean view. They all pay the same for master insurance cost. Insurance on those 12 oceanfront condos ends up A LOT cheaper than a standalone policy on a SF oceanfront home.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
9 months
These ACC refs really seem to have it out for Miami every week. How do you mess up an obvious safety call on the field, and then not overturn it via replay? Hey @CanesFootball you might want to bail on @theACC with everyone else. Might get competent refs for your games...
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
2 months
Best brokerage in the world and I couldn't be happier as an agent w/ @joinreal . Stock plan and low cap $ means I can build wealth and keep more of my earnings. If anyone has questions about making the switch I'm always happy to answer!
@joinreal
Real
2 months
ICYMI: Real $REAX reports 86% annual increase in revenue in Q1 2024 “Our pipeline of 100+ agent teams considering making the leap to Real is at an all-time high.” - Real President @sharran via @HousingWire
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
5 months
@caneville305 On this list? Hester & Taylor. They would be good for 2-3 wins on playmaking alone. And that's high praise since one guy on here is literally nicknamed "The Playmaker." Hester was an absolute weapon on special teams and ST would go for pick 6s vs hits in today's CFB.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
@TheStatsRobot You are welcome to tag along with me one day this summer Brendon (preferably a turn day, Sat/Sun) and see what I do and how much "free money" I get. 😎 Showing 14 houses tomorrow from 12:30-7, if you live nearby come join me. Good agents aren't panicking, we adjust & adapt.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
5 months
I'm not going to take credit for coining the term but I was a very early user (2019) of the term #crashbros for a certain group of folks who seem to enjoy dooming about real estate. And seeing @m3_melody embracing it to this level is impressive. Kudos girl, that takes guts. 🏆
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
3 months
@melissasavenko Nationwide it's undersupply. We haven't been building enough new homes for many years in a row now, and the problem has snowballed. @GRomePow 's chart could basically be subbed out for "new homes built" it's not total US inventory for sale.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
@BrighamHughes I think you are stuck in the forgettable middle ground. Nothing makes ppl want to hold onto that or call you. Either go way out w/ joking stuff (like Herlihy Boy "let me mow your lawn") or way out with a bold simple design (like "WE MAKE YARDS LOOK GREAT") & scrap the QR/pics
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
2 months
@LegionHoops I got Mavs. No better 2nd option than Kyrie still playing. Ant bandwagon so full right now it'll make the wheels fall off. Celtics will roll Pacers but Luka will refuse to lose to KP and Kyrie still remembers his Celtics days. Mavs over Wolves in 6 Mavs over Celtics in 5
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
5 months
@theficouple If you want a STR, buy in an area that values the vacation rental industry. I hear lots of nightmare stories about metro areas and some coastal towns (or HOAs within those towns) that crackdown on STRs. No worries here on the #OBX - we know what drives our local economy.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
2 months
NASCAR All-Star race delivering on the entertainment, Wrecky Stenhouse swinging on Kyle Busch post-race. #NASCAR #NorthWilkesboro Fun race, hope all the folks in attendance saw my billboard. 🤣🤣🤣
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
7 months
@zachary_ashburn Born and raised in eastern NC. Traveled to 48 out of 50 states. Map is legit.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
2 months
@CaseyMericle Like most of these massive exodus tourist areas, just look at new STR restrictions in the last 2-3 years. Sometimes it takes a year or 2 to "feel" it and want to head for the exits. Sometimes insurance increase puts you in the red. Restrict STRs and investors flee.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
@WeddingVenueGuy Always enjoy reading offer/negotiation stories. I see it all the time - initial low offer seems to magically produce competitors out of thin air who suddenly decide to pay up for a property & first low offer in loses out. If you offered $1.1m out the gate is it yours today?
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
2 months
@GayBearRes I don't try to give clients financial advice, but when I see a prequal letter with a high cap ARM I die a little inside. Likely the only path to achieve a "housing crash" is mass originate ARMs & then hike rates. Personally if I can't afford it w/ a 30yr fixed, I don't buy.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
5 months
Investors - Go where you are wanted. “Homes that used to pull $1.2 million are struggling to get $800,000,” Sarlund said. “My neighborhood has dropped 30% to 40% in value.” This is what happens when you place bans and restrictions on short-term rentals.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
3 months
@Fire5280 Depends on price. I've done deals like that with previous clients (where all the details are already sorted and I'm basically a transaction coordinator for their side) for $500 because it didn't take long to do and I try to take care of my folks. But that was a vacant lot & EZ
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
2 months
@EstateBets1135 Love it! The only thing I'd take issue with is that Fed hikes don't affect actual demand, bc the Fed can't affect demand for a basic necessity (like housing). I think they can have an affect on satisfied demand (which loosely translates as transaction volume) but not actual.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
3 months
@rohindhar All the sub-3% mortgage holders never letting go of it, but feeling pretty good about that.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
5 months
@NNNIncome @aaronharrisDB @DutchBros It's 80% branding/experience and 20% coffee quality. I say that as someone who isn't big on iced coffee, but my kid swears Dutch Bros is the best in the world. Their employees are great, always friendly. Since my kid loves it so much, I bought some BROS stock for them. :)
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
3 months
@melissasavenko Agreed - I think the pool of willing and able buyers at today's prices and today's rates has been steadily shrinking and if status quo remains, transactions will drop below 2023 levels primarily due to that. Lock-in rate effect keeping a large % of homeowners from upgrading. 🔒
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
5 months
@texasrunnerDFW Because spotting this trend is not difficult. Since the early 80s the Fed has lowered heading into recessions, & lowered BELOW the previous low on the funds rate. If they don't lower to at/near zero again, they can't kick can down the road. U prefer hyperinflation or depression?
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
@rohindhar I think more specifically it's owners locked into sub-3% mortgages on 2nd homes and STRs who will never sell or 1031 into something else until rates come back to 3%. And after LLPA adjustments in spring 2022, 2nd home rates will likely never be 3% again. Not one 2nd home owner
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
3 months
Great news if true for FHA and VA buyers. The concession cap on VA loans could have been (still might be?) a big deal. These are low upfront cost loans and this should keep them that way.
@SacAppraiser
Ryan Lundquist
3 months
Big news from FHA. It sounds like the seller paying for the buyer's agent commission won’t count within the allotted 6% seller concession allowed under FHA. Yet, it also sounds like part of this comes down to what normal looks like in the market. From FHA: "If sellers continue to
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
@contractorkeith Had an understanding w/ listing agent that if vendors and subs are there, I don't go in. But builders don't bat 1.000 and we found - shower pan in wrong bathroom - missing electric run up wall in living - fence dimensions way off Better to find it early than on final walkthru!
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
@SFR_Investor This guy really busted out the "I know you are but what am I" elementary school material. 🤣
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
@SacAppraiser The headline will be "new listings up 20% YOY" rather than "new listings down 40% vs average of last 15 yrs." This is the problem w/ recency bias/cherrypicking & missing the entire picture. Same w foreclosures. They doubled from 21 to 22.. but 21 was lowest lvl measured.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
5 months
@artimidore I think based on the last 30 years of history though, Fed will be just as aggressive on the way down into recession as it was hiking rates in 2023. Recession seems inevitable so I think we end up dodging your scenario. Home prices go up in recent recessions too. 👨‍🎓
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
9 months
@shawngorham I would never ever give up a 2.625% rate on a property where I have significant equity. That fixed-rate debt is a huge asset during times of inflation and rising rates. He can rent, scout the area, find a good neighborhood and rent out back home. Only concern for me = squatters
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
@Matthew20155341 @BednarikMatt I don't usually get to visit when it's being fixed, typically in the house w/ inspector on home inspection. Easiest way to tell is if you see bubbling or staining on drywall under windows, or peeling paint outside. ZIP OSB + ZIP tape has made a world of difference around here.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
10 months
@KobeissiLetter @CapitalDesk Unemployment won't do it. Most homeowners are sitting on quite a bit of equity and something like 40% of homeowners own their property free and clear (no mortgage). If someone loses a job they can do a cash out refi or just sell it for profit and then rent something else.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
@TrishaFLsun There will be more of this, but I think the big increase in litigation will be listing agents w/ excl agency listing agreements dealing with unrepresented buyers trying to save on commission/fees. One litigious buyer could say the agent didn't tell me about a flaw (even if agent
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
3 months
@SacAppraiser There's high demand from buyers overall. Group 1 wants to buy but can't (prices/rates) Group 2 wants to buy and can Group 1 is not active in data, but they show up in polling. When rates drop nobody should be surprised about the appearance of Group 1 and "unexpected demand."
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
8 months
@ThinkAppraiser Real estate is LOCAL. In areas with construction booms (Phoenix, Austin, etc) or areas of net exodus (NYC, Chicago, etc) you might see downward pressure on prices. In the rest of the country we are woefully short on inventory compared to 2019 levels. Supply/demand says she wrong
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
3 months
@artimidore Wow amazing, now graph it out on homes per capita (US Population) There are 36m+ more people here than there were in 2008.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
2 months
@imrichardfertig Awesome, totally the way to go on offering cold plunge to guests. Great filtering/water cycling on these. Plus the newer ones (think it's the "all in") have those pop-out filters, easy for staff to maintain. Can't wait to check it out!
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
5 months
@AustinWhittRE Missing out on a lot of good leads then, promoting your listing w FB ads is a great (& cheap) way to meet motivated buyers even if they don't buy your listing. My last 2 listings have gone u/c in < 3 days and while I'm happy for my clients, I wish my FB ads had run for longer :)
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
3 months
@melissasavenko Very few investor purchases post-rate hikes are going back onto the market here. Inventory rising quite a bit (many in residential areas) but still need buyers to make a transaction! Residential inventory March 2024 - 563 Residential inventory June 2019 - 1579 📈price pressure
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
3 months
@F_I_R_E_Fighter I had a great time discussing short term rentals with you Marc! Real estate on our islands is similar in many ways but some key differences in the approach to short-term rentals. I'll have a better mic next time. 😎
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
For anyone saying home UNaffordability is at an all-time high, you may want to look at data before the 90s. In 1981 a buyer taking out a mortgage on a median priced home and paying current rates would have been spending 50%+ of their income on the principal+interest of mortgage.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
5 months
@NewsLambert He's not wrong, but he bears a large part of the blame for rapidly hiking rates and "locking in" home price gains from 2020-2022 and disincentivizing builders with all the uncertainty.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
5 months
@SteveHarney The housing market broke in the early 70s. Home prices averaged +~5% since the 1980s w never-ending inflation. Home prices went up 50%+ from 1977-1981 and then up another 40%+ from 1981-1984. Prices up with rates dropping OR rising. Buying power of $100k in 1967= $1m+ today
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
7 months
Why 2nd home/vacation home owners who locked in at 3% or less pre-spring 2022 have diamond hands - If conventional 30yr mortgage rates don't dip to 2%+ range, they may never have another opportunity at a sub-3% 30yr conforming 2nd home loan. @NewsLambert
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
@TrishaFLsun @JohnWake @melissasavenko Self preservation is not necessarily a virtue. If this settlement goes through I don't see how it benefits US home buyers or real estate agents in general (who make up NAR). It seems especially harmful to VA and FHA borrowers. NAR:
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
5 months
@imrichardfertig Nice list I met some people who stay at an older hotel here because they've done it for 20+ yrs, and they are happier there than they would be in a 10BR luxury oceanfront. The owner greets them by name during their stay and loans them his fishing rods. Total loyalty forever.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
9 months
@NewsLambert I can tell you from experience that I own some land and would love to hire a certain Canton, Ohio homebuilder to build a house on it - but ONLY if they have a 5% rate promo. Any large US homebuilder with a mortgage arm who can do 3% rate discounts will have ppl lined up - today!
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
5 months
@Blind__Luck 20 out of 24 hours fasting During 4 hour window eat keto (2 meals if u want) A 20 minute walk per day I went militant on that plan last week and dropped 10 lbs. Unsweetened teas and coffees @ Starbucks make it easy when you are on the go. Do that for 1 month and you're done.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
6 months
@indexnforgetit Real estate agent! You can earn $100k+ in year 1 if you put the time and energy into it. Have to sit through a lot of class hours in my state and pass state/national exam, but for someone highly motivated who will put in the work, there is no ceiling. Make it happen!
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
@GRomePow @BTCBullzooka I think you meant to say "600 calls recorded by REX with examples of agents not wanting to deal with REX listings when they discovered that REX didn't offer any buyer agent compensation" Get the facts right.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
@GeorgeGammon Of course it would. Only difference would be frequent velocity changes viewed as normal part of life. More booms and busts is downside of fixed MS but less inflation is benefit. Look at land prices pre-Fed. 1870 1 acre = $18.26 1900 1 acre = $19.21 30 years of price stability.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
5 months
@AdvisorJohn Residential inventory in my MLS the last 5 years- Dec 2023 - 821 Dec 2022 - 872 Dec 2021 - 759 Dec 2020 - 1142 Sept 2019 - 1465 I thought ~900 would be "new normal" but it's even worse than last year. 1400-1500 was the norm before. Little more than half that now - crazy.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
2 months
@GrulkeLamonte Just being honest, no. $/sq ft going to be so much higher than neighboring properties and future appreciation highly reliant on neighborhood revitalization. Need "things to do" nearby to draw these type of buyers, find a partner for that & LTR this in the meantime maybe.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
4 months
@YieldOnCostSTR The fatal flaw in their business model is that instead of hiring property recruiters and paying IT staff back home, they should be hiring CSRs and paying customer-facing staff who manage their properties. Would prevent owner exodus. They try to go lean in the wrong place.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
3 months
Had a great time talking with @F_I_R_E_Fighter Marc Oshiro of Hawaii on what the short term rental environments are like on the Hawaiian islands and on the sandbars of the #OBX - hope you find something interesting in this conversation!
@F_I_R_E_Fighter
Marc Oshiro Financial FIRE Fighter
3 months
🌴🏠 Aloha, sports card enthusiasts and real estate aficionados! 🏠🌴 Are you ready for a conversation that hits like a home run in the real estate market. @StephenSmithOBX Join us as we dive deep into the challenges faced by the stunning Hawaii and the picturesque Outer Banks
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
8 months
@NewsLambert I think they should have been focusing on humanizing the profession & not making generic ads. For every rockstar agent there are 25-30 agents struggling to make ends meet right now. Would have been a good opportunity to link the plight of those agents to the slowdown in sales.
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@StephenSmithOBX
Stephen Smith - Outer Banks Realtor
3 months
@SacAppraiser Cool. So the only change is we call listing agent and ask what commission % is, rather than just looking at the listing in MLS to find it. Hardly the "industry disruption event" all the sensationalized headlines made it out to be. Not only that but if a seller doesn't offer
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