Return to the key points that you wrote out in your Writing Plan Choose one of these points you want to strengthen using the research you’ve already conducted in the Opposing Viewpoints database and online then follow the prompts below to practice integration. Write your response after each question.
1. Review your sources and select a source that will support a key point in your essay.
2. In 1-2 sentences, clearly state what the point is that you are trying to make in this particular section of your project.
3. What information from the source you selected in step 1 supports this point? You may quote or summarize that source below.
4. Explain how the information provided in question three supports your point. How does this information also support the overall argument in your essay?
Read through Diana post carefully, and then answer the following questions after it.
- Housing Perspective copyright California Association of Realtors
- It seems this source is arguing for purchasing or selling a home in today’s market.
Sales have propelled to levels not seen in the past 15 years. Sales of existing single-family homes surpassed the 500,000 benchmark for the first time since January 2009. Supply is low and demand is high. Homes sold received multiple offers and homebuyers paid more than what home sellers asked for.
- Credibility and Relevance
- Personally, I believe the source is doing a good job of supporting its arguments because the information given is factual based on current market situations which I personally have been a part of.
- I think this source will be very helpful in supporting my argument because of the statistics given by graphs and information based on the current market conditions.
- The Realtor.com, The Future of California Real Estate: Can the Golden State Survive? by Clare Trapasso
- It seems this source is arguing against California continuing to be a booming market.
This source is using the following evidence to support the argument: A severe housing shortage, exacerbated by the coronavirus pandemic, had led to the most expensive home prices in the nation. Wildfires this summer have devastated the northern part of the state. In the midst of a deep recession, many Californians are being priced out of their communities. Others are questioning why they’re shelling out so much money each month to live there—especially with companies in places like Silicon Valley allowing employees to work from home, wherever in the world that home may be..
- Credibility and Relevance
- Personally, I believe the source is doing a good job of supporting its arguments because she is quoting from leaders in the real estate industry such as from George Washington University and California Association of Realtors.
- I will work to refute this counterargument in my essay by giving all the reasons why the California market is proving to continue to be solid in the following months to buy or sell.
- Firsttuesday Journal posted by ft Editorial Staff, January 8, 2021
It seems this source is arguing between the two opposing markets with reasoning to support both.
The forward trend in California home sales is mixed for both buyers and seller. Homebuyer income is going further and doing more than anytime during the past 15 years due to increased borrowing capacity brought on by low interest rates, at historic lows in May 2020.
Relocating Baby Boomers going into retirement in the coming years will be the primary propelling force in both selling homes and buying replacements. Their Generation Y (Gen Y) children will add to the sales volume at the same time as they find jobs at better pay levels and become first-time homebuyers. Gen Y influence will peak in sales volume at the end of this decade as they complete their shift from renting to owning.
- Credibility and Relevance
- Personally, I believe the source is doing a bad job of supporting its arguments because they are using such old information and trying to make their point based on historical information in a time where Covid-19 did not exist.
- I think this source will be very helpful in supporting my argument because the information given in the article gives pros and cons to both sides of the market with many graphs to support it.
Based on the current information in the real estate market, I believe it is a great time to buy or sell your home. My argument will be based on why anyone should sell a home or buy a home in the current market if they have the means to do so. Since August 2020, I have sold four homes in California in the last four months. I believe it is a good time to sell or buy a home because loan rates are down, first time buyer incentives are available, sellers can command top dollar for their home and be able to buy a larger home. For many who bought during a recession period, the gain on the home will be huge during an inflationary period. I am working on my Bachelor’s in Business Administration and I am a Realtor. I have multiple family members in other states who are Realtors who share information on their specific markets.
If you are looking to move up into the next level then now would be the time to do that. The housing market was red hot as 2020 ended. For example, the state of California has already recovered all the sales it lost in the first half of the year as insatiable housing demand in recent months has propelled sales to levels not seen in the past 15 years. Sales of existing single-family homes surpassed the 500,000 benchmark for the first time since January 2009, while year-to-date sales through November exceeded last year’s level for the first time since March and recorded an increase of 1.3 percent from 2019. (California Association of Realtors, n.d., Fierce Competition Continues in CA Housing Market) This information shows that it would be the time to sell your home as well as the time to buy a home. While the rental market is also at an all-time high with rental rates skyrocketing, buying would be advantageous and allow equity to build instead of making someone else’s payment.
Working with housing markets especially where there is extremely low inventory during inflationary times allows for multiple offers and huge earnings. Anyone who has real equity in their home who bought during a recessionary period and can now realize a huge gain. There may be challenges as to the location of the home in areas where there has been historically more crime. If a the buyer had low down payment and there is still a large loan amount owed this could also create an opportune time to move out of that private mortgage insurance that is just being thrown in the trash. Or, if they used their primary home as equity for additional loans or a 2nd mortgage then now would be the perfect time to convert to a new home with just one mortgage.
Another reason why more people will be looking to sell their rental properties is due to the current mandate of rent increase moratorium and evictions being stayed at this time during the Covid-19 pandemic. Due to the Covid-19 stay at home orders, people are also looking to move into larger homes to accommodate the remote offices, learning areas for their children and multigenerational housing. Home prices have been experiencing robust gains so far and we will continue to have a solid growth in 2021, but the pace of growth will be more moderate. The normalization of the mix of sales as the economy recovers, an increase in foreclosed properties as mortgage forbearance is lifted, a shift in housing demand to more affordable suburban areas as remote working policies are more widely adopted, and an increase in sales of rental properties due to heighten concerns in recent eviction policies, are all reasons that will keep prices in check and prevent the statewide median price from rising too fast. (Trapasso, Clare, 2020, The Future of California Real Estate: Can the Golden State Survive?) Even with all of the procedures put into place for showing a home for sale to prevent Covid-19, many people still see the opportunity for a huge gain in selling their home in today’s market. Buyer’s perceive the value in owning and gaining equity instead of throwing their hard earned money away in rent.
The audience I am appealing to is the middle to lower classification of income levels who feel they cannot afford to own a home. The challenge is that all states need to pursue a variety of strategies over the medium-and long-term to ensure that the American Dream remains attainable for everyone, including our children, grandchildren, our black and Hispanic communities and converting many of these income-eligible families into homeowners so that would significantly reduce the homeownership gap that has persisted through the decades. (California Association of Realtors, n.d, Affordability Impedes Homeownership, But Still Plenty Of Potential Buyers) With this information, I will be able to educate buyers who thought they would never have the opportunity to own a home. Simply by having them prequalified in advance so they know what is needed and what is expected during the loan process. They will also learn about all of the loan options that would apply to them currently and be able to make an educated decision with guidance and understanding and ultimately owning a home.
News channels offer information about the current market, newspapers deliver articles about why the market is a good time to sell, periodicals have many viewpoints from Top Selling Real Estate Agents of the current market conditions, California Association of Realtors keep up with the current times and offer information on the market and the overall outlook, Department of Real Estate continues to put out information with regard to market conditions and housing perspectives. All of this information will help support why it is a good time to sell your home, rental properties or buy a home. Each of these sources offers positive information to support my argument. I have integrated this evidence throughout this essay. I also have family members in Arizona, Colorado, New York and Chicago who are Realtors and they agree with this information.
With all the information given from many different perspectives now is the time to sell your current home or rental property with everything that is happening in favor of a seller. Multiple offers, minimal days on market, COVID-19 protocols for safety when showing a home, cash buyers, offers given without inspections and time constraints for loans or review of disclosures to gain the sale. Rental properties being offered due to laws being put into place regarding evictions and rent guidelines to any rental increases. Encouragingly, the federal government is beginning to take significant steps on fiscal and monetary policy to help offset the effects of the outbreak. In fact, 73% of consumers surveyed by California Association of Realtors assumed they needed more than 20% down payment to buy. When asked if they would consider purchasing with a small down payment, nearly 70% said that they would indeed be motivated to buy. (California Association of Realtors, n.d, Affordability Impedes Homeownership, But Still Plenty Of Potential Buyers) Many of these same consumers in every state do not know about FHA and other low-down payment loan options. This group of renters represents a significant number of new homeowners even though many of their peers have been priced out of the market. I feel these strategies will be most effective when showing first time buyers and speaking with sellers during this inflationary market while showing them the potential of homeownership and all it can bring. This offers a huge learning opportunity and conversion from renter to buyer or seller to SOLD and I will be there to educate them all the way through the process.
After review of feedback from my instructor on previous assignments submitted I took my resources a little deeper to gain more insight and information for this essay. The feedback influenced my desire to learn more and bring in statistics as well as information by multiple sources to educate buyers and sellers alike. My essay has become more robust and information filled so that my argument is supported by multiple sources and information gathered by experts in this field and many Realtors in other states.
In your own words, identify the argument of your peer’s persuasive essay. What are they aiming to prove?
Has your peer adequately addressed opposing viewpoints?
Which of the summaries (or which sections of the summaries) could use more clarification? How could your peer’s summaries be improved? Please paste an example and, if appropriate, offer your own edits.
Has your peer provided adequate credentialing information? If so, how can you tell the source is credible? If not, what could your peer add to note the reliability of the source?
Do the sources your peer describes in the annotated bibliography connect to their argument in a clear and easy-to-understand manner? If so, how so? If not, what are some ways in which your peer could strengthen those connections?
Does your peer acknowledge a counter-argument in one of the annotations? If a counterargument is presented, do they provide a persuasive rebuttal? If no counterargument is presented, can you anticipate some of the objections your peer should take into consideration?
Evaluate the sources your peer has selected. Which sources do you find to be the strongest? Why do you think they are strong, and how do they support your peer’s key points? Are there ways the sources could support those key points that your peer has overlooked? Be specific.