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Tech markets thriving, NYC hits bottom, and Zillow gets sued... again

If you haven’t bought or sold a home lately ⏰, you might not believe 🤯 what’s going on. Realtor Missy Farrell said she’s seeing 👀 "multiple offers, lots of showings on homes, high deposits, over-asking prices and sight-unseen 🙈 offers." She recently helped Alana McCall sell her home in Wake Forest. McCall says after just two days on the market, "We had 20 offers.” Beyond getting multiple offers in a matter of a day or two, the trend catching many by surprise is the way many buyers are hoping to standout: they’re offering large due diligence payments 💰.

Every New York 🗽 real estate buyer wants to ”wait a little longer and buy at the bottom 📉 of the market.” Agents hear this refrain 🎼 over and over again during every downturn ⤵️. And, of course, who doesn’t want to buy at the bottom of the market 🤷‍♂️? That said, the bottom of the market tends to elude us. Usually buyers AND agents only see it in the rear view mirror 🪞. And that certainly pertains today 📅 , as we see the market firming up throughout all price ranges, and deal volume at levels we haven’t experienced for five years.

The coronavirus pandemic has been tough on a lot of cities 🏙, but even during a major health ⛑ crisis and recession, some parts of the country 🇺🇸 have thrived. Milken Institute, a Santa Monica, California-based nonprofit 🎗 that focuses on issues related to human 👨‍👩‍👧‍👦, financial 💵 and social capital, recently published its Best-Performing Cities 2021 report 📑 that detailed the nation's top growth 📈 nexuses with Provo-Orem, Utah 🧗‍♂️, ranking as the top-performing large metro area with a population over 100,000.

Zillow Group, the real estate 🏡 media company that owns online 🧑‍💻 marketplaces including Zillow and Trulia, is facing an antitrust lawsuit 👩‍⚖️ alleging that its sites and the National Association of Realtors are making it harder 😩 for potential home buyers 🛍 to view 👀 listings with lower fees 🧾 from other competitors.



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