Diving Deep into Real Estate Market Data with Daren Blomquist
Daren Blomquist is the VP of Market Economics at Auction.com. His work is focused on gathering and analyzing data to help real estate investors find the best investments that will help them succeed in scaling their businesses and growing their portfolios.
Listen to this episode to learn more about Daren’s insights on today’s market and why you should always be looking at the data before you invest!
Key Talking Points of the Episode
00:00 Introduction
01:00 Who is Daren Blomquist?
03:25 What should real estate professionals focus on today?
06:43 What does it mean when a market double-dips?
09:01 Why is it important to protect your upside if you’re investing in real estate today?
11:37 How can using data help you make better investments?
14:20 What happened to the massive wave of foreclosures we were expecting?
19:10 What should real estate investors know about the distressed market today?
21:10 When does the foreclosure process start?
24:46 What has changed in the foreclosure funnel from pre-pandemic to today?
26:01 What is the Homeowner’s Assistance Fund?
28:04 What opportunities are there in pre-foreclosures for investors?
30:04 How would selling to investors help homeowners better?
32:36 What does the future look like for the bottom of the distressed market funnel?
35:39 What is Daren’s advice to investors who want to invest in distressed properties?
37:10 Why is it important to seek advice from people who do what you want to do?
38:50 Where can investors find the most opportunities in today’s distressed market?
40:21 How important is the median home price when evaluating investments today?
41:03 What is the data on household formation telling us about the current real estate market?
43:42 What underrated markets should real estate investors look at today?
44:30 What are some of the most overrated real estate markets today?
45:48 What are the benefits of using Auction.com to look for deals?
Quotables
“We’re still at the point where foreclosures are about half of what they were pre-pandemic, which already was, basically at a 20-year low.”
“People who are in default are just going in and out of default and staying in that seriously delinquent bucket. It’s just taking them longer to move down the drain.”
“The foreclosure sale is the last opportunity for that homeowner to protect their equity. If it goes back to the bank, then the bank gets all the equity.”
Links
Website: RCN Capital
https://www.rcncapital.com/podcast
Website: REI INK