Welcome to the last video of the year 2020 by Fernando.
Today, as the title implies, he would like to make a year-end review and predictions for 2021 in the residential market.
It’s been a crazy year in the residential space and the Storage Stud believes that more craziness will take place.
For Fernando, 2020 was an interesting year. A lot of surprises and turmoil happened in the residential business. When Covid-19 hit the US, there’s a huge prediction that it would negatively affect the housing market. They say that prices will drop.
A lot of people also compared this pandemic event to the 2008-2009 recession. For Fernando, there are a lot of factors he considers differently when he compares the two events.
For one, the 2008-2009 crash happened because there were a lot of “bad loans” hitting the street. The lending requirement that was placed at that time was not properly done. Basically, people can get loans with no documents and no proof of income.
This is not the case for 2020. It is actually quite the opposite. The lending system became very strict. Instead of prices going down, the prices actually went up. Fernando thinks that one of the main reasons this happened is because of the shortage of inventory.
A lot of sellers refrained to put their houses or property on the list because they don’t want other people coming into their homes for fear of getting affected by Covid-19.
There are a lot of other issues about what happened in real estate this year that Fernando touches on in this video.
But the most important thing that he wants to share is that he is still looking for deals. He’s reaching out to anyone that thinks that they might be in a tough situation that they need to get out of, without letting the bank dictate their life. If somebody is going through a short sale he and his team are willing to help these people in any way they can.
Fernando O. Angelucci is Founder and President of Titan Wealth Group. He also leads the firm’s finance and acquisitions departments. Fernando Angelucci and Steven Wear founded Titan Wealth Group in 2015, and under his leadership, the firm’s revenue has grown over 100% year over year. Today,