Are Bidding Wars Over? - The Storyy Real Estate + Mortgage Trend Report 08/01/22

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Before we get to the bidding wars, let’s look back to over 8 months ago when we started the trend report, and my oh my has it been the journey. If you’ve been with us since the start, we’re glad to have had you this whole way! And if you’re new here, we’re glad to have you 😌

In this weeks report:

  • Are bidding wars over?
  • Tiktok but make it for gamers
  • Yung Gravy or Steve Lacy ???

Are Bidding Wars Over? That Depends on Whether Home Sellers Make These Mistakes

In the rollicking seller’s market we’ve had over the past couple of years, sellers have enjoyed watching homebuyers bend over backward to outdo one another, with ever-higher home prices, fewer (or no) contingencies, and other perks in an effort to entice sellers to pick their offer over all others.

But a subtle shift is afoot. Interest rates are rising, slashing buyers’ borrowing power. Plus, the® June Housing Report shows an uptick in the number of homes for sale.

“The biggest positive for buyers is that they’re seeing more homes on the market now,” says Chief Economist Danielle Hale. “This means more options for them to consider in their home search.”

While the market still has a long way to go before it tilts definitively in buyers’ favor, sellers today can no longer kick back and just presume a bidding war will roll in.

“As the market is transitioning, buyer psychology is also transitioning,” says Lauren Schaffer of Triplemint in New York. “Bidding war fatigue coupled with a softening market has created a newfound sentiment that buyers don’t need to engage in a bidding war in order to secure a home.”

However, home seller psychology has yet to catch up to this new reality, putting many at risk of making a variety of mistakes that could squash their odds of receiving multiple offers—or of coming out ahead if they do. Here are some missteps sellers will want to avoid in today’s changing market.

Read more about the bidding wars at

Video Prompts

  • Who are the winners and losers of the bidding wars?
  • What are your predictions for the market going into the final part of the year?

The Real Reason Mortgage Rates Are Dropping at a Record Pace

Mortgage rates have been all over the map recently, both in terms of their movement and in their variation between lenders.  The disconnects are so big as to require a deeper explanation.  

Let’s quantify “big.”  Best-case-scenario rates for a conventional 30yr fixed are down about half a point from last week on average and more than a full point below the mid-June highs.

This is an exceptionally fast drop!  In fact, it’s a bit faster than the drop seen in the 10yr Treasury yield, a frequently used benchmark for mortgage rates. 


Video Prompts

  • Explain why mortgage rates are dropping. What does this mean?
  • What should potential buyers do with these dropping rates?
Trend report

Tiktok brings mini games to it's platform

You can now get your fill of fun games on TikTok! Nine mini-games are available to play within the app, and they’re easy enough for anyone who has ever played Plants vs Zombies.

To add them as an option when uploading a video just go ahead and select “Mini Game” from under Account Settings after adding any links or recordings that you want people watching at home will see what’s going down in real time without having participate themselves – which means more viewers mean better chances of getting noticed by other fellow gamers.

[Check out our blog on: How To Create Engaging Social Media Content]

Trend report

Private Jets vs. The Environment

Private Jet vs. The Environment With the news that Taylor Swift allegedly produces more carbon emissions than any other celebrity in 2022, amassing to roughly 8,200 tonnes (more on that above). This is mostly due to the unnecessary plane rides Swift takes in her private jet. After the information surfaced in an op-ed article, Swift was labeled as a hypocrite given her “climate change awareness” public persona.

The discovery led to memes, similar in nature to memetic discourse regarding Kyle Jenner’s Three-Minute Flights.

In short, the meme-lords have waged war on the out of touch celebrity.

Trend report

Betty (Get Money) - Yung Gravy

Yung Gravy is the unofficial king of Tiktok. Jump on the popularity of a sound bite from his latest songle, Betty. During the lyrics “so delicious,” show off your best pic or hottest video of yourself!

For a funny twist do the opposite. What do you look like before your morning caffeine fix?

Check out these examples:

Trend report

Bad Habit - Steve Lacy

the #1 song on the Spotify Viral 50 is Bad Habit, the second single from Steve Lacy’s sophmore LP Gemini Rights. The song has also been very popular on platforms like Tiktok and Instagram, being used in a variety of ways.

Trend report

The perfect one minute video

The one minute video is the jump-shot of content creation. Learning to create an organized, simple video is one of the best things you can do to improve your content

Check out the video below to learn how!

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