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Different Perspectives: Chat with Billy Weisman

Different Perspectives: Chat with Billy Weisman
Real estate isn't just a cyclical market! We recently talked to Billy Weisman, Partner at New World Ventures and Serial Entrepreneur, about the changing residential real estate landscape. He suggested being selective in terms of one's needs, researching potential issues thoroughly and having the right team in place to help you navigate the complexities of buying or renting a home. Follow the link to read more about his insights! #RealEstate

We recently sat down with Billy Weisman, Partner at New World Ventures and Serial Entrepreneur, to discuss the current trends in residential real estate. He spoke of a paradigm shift in attitudes towards remote work, and how this is affecting the market.

"It's not a cycle, it's a whole paradigm shift," Billy said. "We're not there yet. But this means that people are being more selective in terms of their residential real estate needs." Remote work means that residential and commercial real estate are becoming increasingly linked, and people need to be sure they are getting the right balance between the two.

He also brought to mind some of the leading indicators for potential buyers and renters –  suggesting looking for open spaces, proximity to parks and outdoor accessibility, following the art and music, and being mindful of one's own needs. In fact, according to the Parks and Trails Council of Minnesota, "As a general guideline, researchers have found nearby parkland increases home values 5%-15%, depending upon proximity and quality of the park. Trails have a similar effect: researchers estimate homeowners are willing to pay an additional $4,000-$9,000 to be located within a thousand feet of a trail."

On the topic of being mindful of one's needs, Billy said, "Know yourself. For some, it's family; for some, it's their profession; for some, it's play. It's really individual." In other words, people should be aware of what matters most to them, so that they can make an informed decision about the residential real estate market. He also suggested being prepared in terms of due diligence and secure transactions – not always taking something at face value and doing research accordingly.

When buying a house, buyers have a certain amount of time to learn as much as possible about the property before making their purchase. Generally speaking, this period lasts anywhere from 7-14 days and is referred to as the real estate due diligence period. During this time, you should research any potential defects or issues that could affect your decision to purchase. If you come across an issue that requires further analysis, the due diligence period can be extended. It's essential to be thorough since there is no room for error in this process.

Lastly, Billy emphasized the importance of working with a team that is prepared for any circumstances. He suggested looking for reputable realtors and lawyers who are well-versed in the process and can help you navigate the complexities of buying or renting a home wisely. "It's really important to have the right team in place," he said, "so they can look out for your best interests."

Key takeaways from our interview include being mindful of one's needs and doing research to ensure that you get the best value for your money. Additionally, it is essential to have a team of professionals who are knowledgeable about the process and can help guide you through it.

About Billy Wiesman

Billy Wiesman is a lifelong social entrepreneur and community builder. He describes himself as a "highly experienced man of service" who works with and invests in startups and established for-profit and non-profit organizations to help make the world a better place.