WELCOME

It’s barely September, but we’re already seeing signs of spooky season—and we’re not just talking about pumpkin displays at Costco. 

According to ATTOM, nearly 900,000 investor-owned homes are sitting vacant across the U.S., and over 7,500 of them are officially “zombie foreclosures”—properties abandoned mid-foreclosure. While the overall vacancy rate remains steady, these listings are creeping up in markets like Wichita, where over 12% of foreclosed homes have been left behind.

Hit reply and tell us – would you flip a zombie foreclosure, or let the abandoned house R.I.P.?

SHARPEN YOUR SKILLS: Today’s Top Podcast Rec 🔊

Powerhouse entrepreneur and broker Tricia Lee learned early on in her real estate career that as the job changes, you have to follow. One day you’re a negotiator, another you’re a therapist, and the next you’re a party planner—but that’s what it takes to get the deal done. Catch this Part 2 episode of Glennda’s Guru for Tricia’s fresh take on building a massively successful real estate business, deal by deal, on a high quantity of homes, plus her advice for mentoring the new agents on your team.

TRACK THE MARKET: Housing Gets the Government’s Attention

Earlier this week, Treasury Secretary Scott Bessent confirmed that the Trump administration is considering declaring a national housing emergency to address affordability. The proposal, which is currently under review, is expected to include actions that would reduce closing costs, encourage standardization of zoning and building codes, and reduce tariffs on construction materials. 

So far, no specific policies have been released, and it’s unclear whether emergency powers could legally be used in this context. But with mortgage rates still above 6.5%, affordability at a near 40-year low, and nearly half of all renter households considered cost-burdened, federal policymakers are under serious pressure to act.

In addition to this proposal, several policy efforts and legislative plans are already in motion that could positively impact the housing market in late Q4:

• A federal tax credit to help offset closing costs is under consideration, modeled after a similar program introduced during the 2008 recession.

• A bipartisan bill, the ROAD to Housing Act of 2025, would promote local zoning reform by offering a “best practices” framework for jurisdictions to adopt voluntarily.

• The Federal Reserve is expected to cut its policy rate this month, which could help push rates to their lowest average of the year.

DIVE IN

The Friday Five

📖 Broad view. The Blueprint reviews the biggest 2025 housing trends—and what’s coming in Q4. 

👀 Papparazzi-proof. Jake Gyllenhaal offloads his ultra-private Tribeca condo. 

👀 ‘Zillionaire ZIPs. See the most expensive ZIP codes in the US, with record-setting recent sales. 

💡 Practice your patience. Why the best agents never make buyers feel like an imposition. 

💡 Land your $1M listing. 5 real estate shifts million-dollar agents are anticipating now.

WHAT’S NEW FROM ESTATE MEDIA

Would you be willing to pay $2M to soothe your seller’s remorse? Nick and Vanessa Lachey moved to Honolulu in 2021, selling their LA property for just over $6M to tennis star Naomi Osaka. Now they’re back—and they paid nearly $8M to have their old home again, complete with a few Naomi-style upgrades. 

Catch that full story, plus Leonardo DiCaprio’s Malibu beach house drama and a tour of Tom Petty’s estate, in the latest episode of House of Celebs.

FEATURED LUXURY LISTING

TIPS & TAKEAWAYS

Cruel summer = cashing in on fall

This summer’s sales pace may have looked a lot more like winter, but that doesn’t mean the year’s opportunities are over. This year, the best time to buy may be around September 16-17, when a likely interest rate cut gives the market a quick boost. 

For more on fall rate cuts, changing competition, pricing trends in the South and West, and timely advice for investors, check out the latest edition of The Playbook—full of tips for agents and buyers alike.

HANGS & HAPPENINGS

CREtech New York | New York City, NY | October 21 – 22
Over two action-packed days, you’ll connect with top C-suite executives, industry leaders, and dealmakers from the world’s largest real estate firms, all shaping the future of the built environment. As the Flagship Event of NYC Real Estate Tech Week, this is your opportunity to make meaningful connections and walk away with tangible business outcomes.

NAR NXT 2025 | Houston, TX | November 14 – 16
Gain laser-focused business intelligence and insights on AI, interest rates and inventory. Access strategic insights, tactical tools, and innovative solutions to highlight your mission-critical role for today’s ever-changing market.

Inman Connect | New York City, NY | February 3 – 5, 2026
The biggest names in real estate share their secrets to success with our attendees in curated sessions that will equip you with the skills to level up.

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