FINE NEST DECEMBER 2021 NEWSLETTER

12/10/2021

May everyone have a happy, safe, and blessed holiday season!

Fine Nest gladly provides the most up-to-date real estate information and local resources we hope are useful to you and your loved ones as we continue to navigate this unusual time.

The Latest News

December Market Metrics Report

Saying "Good riddance" to Zillow's Home-Buying Program

If you haven't heard by now, Zillow released a statement last month announcing the end of their Home-Buying program. Many working in real estate across the nation celebrated as concerns over Zillow's possible market manipulation has been a hot topic. Explained in a USA Today article, Zillow has long been suspected of market manipulation as it has continuously purchased homes via iBuying. Very simplified, Zillow has essentially been using data collected from its app users to predict home price margins it calls Zestimates. These Zestimates are not reliably based in real numbers compared to other more legitimate broker backed databases where numbers are extrapolated from actual sales. Zillow in turn uses these Zestimates to motivate sellers to accept lower iBuyer offers on their homes that Zillow then purchases, flips and relists at higher prices. The problem that those in real estate have with this process is the magnitude at which Zillow has been implementing its business. Zestimates combined with a large scale operation of buying, flipping, and selling houses can really change the market in the long run. Zillow claims it ended its buying program due to labor and supply shortages the company experienced during the progression of the COVID-19 pandemic. However, many real estate experts believe Zillow may have simply overestimated the surge in housing prices during the height of the 2020-2021 sellers market. With home prices now accruing at a slower rate, Zillow may have found itself in a financial pickle. For a more in depth video on this, click HERE

Market Numbers for This Month

This year's record breaking spring market frenzy has seen quite the 180 degree turn around. Since September, the market had been riding calmer waters with the largest month to month difference showing inventory fluctuations. Some counties are even seeing as much as a 40% drop! Compared to last November, month to month metrics for inventory saw a similar decline. However, November 2020's YOY metrics were through the roof as the number of sold houses blazed trails across the nation. This month's YOY metrics struggle to compare to 2020's, but there is nothing to fear. 2020 was an anomaly for real estate, and the current sellers market market is in the process of a slow, but steady, change. As we mentioned in the newsletter last month, the 2022 real estate projections are in, but only time will tell which direction the market will shift.

Your Holiday Hit Classics Here!

Virginia Country Restaurants

If you're traveling around the state of Virginia this holiday season, try stopping by one of the 7 seven best country restaurants to get your taste of the "just like meemaw makes" ol' fashioned country style food. From biscuits and gravy for breakfast to homemade cobblers and ice cream for dessert. The options are endless!

Holiday Movie Watchlist

Don't know which holiday movies are the best to watch? Check out this holiday movie watchlist ranked from worst to best holiday movies!

December Events Near You!

Join the holiday happenings around the NOVA/MD area you won't want to miss!

12 NOVA & DC Ice Skating Rinks

MD Ice Skating Rinks

First Night Alexandria, VA

Bring in the New Year at this fun Drive-in and virtual concert experience
Dec 31, 2021
Buy Tickets HERE

Midnight Madness

A festival shopping time in Annapolis, MD
Select days in December, 2021
Event Details HERE

Preparing for Those New Year Fitness Resolutions

If your goal is to get fit in the new year, but you don't want to pay for a gym membership, try subscribing to one of YouTube's most popular and content consistent fitness instructors, Sydney Cummings! Followed by our very own Fine Nest admin, Sydney Cummings, posts DAILY workouts onto her YouTube channel for FREE. Her channel is full of 30 day challenges that include all kinds of work outs like HITT, strength, cardio, Power Yoga, AMRAP workouts and more. Unlike other fitness YouTuber's, Sydney's daily workouts are what make her the best fitness companion. Her positive attitude and uplifting messages help anyone working towards self improvement reach their goals. The best part is that it's all free and you don't even need to leave your home! Check out her workout playlists HERE