Blog : brokerage

NextHome Experience Recognized on The Top 1,000

NextHome Experience Recognized on The Top 1,000

Pleasanton, CA — April 3, 2020 — The NextHome franchise is thrilled to congratulate NextHome Experience for being placed on RISMedia’s 2020 Power Broker Report due to their hard work in 2019. The Worthington, Ohio-based brokerage finished the year with $250,325,639 in volume with 1,023 transactions, placing them No. 911 on the list for the entire country. 

NextHome Experience is owned/operated by business partners David Caraboolad and Vadim Barash. Since they joined NextHome in 2016, the brokerage has seen unbelievable growth with the opening of three office locations in Worthington, Granville, and Marysville, Ohio. 

Based on their 2019 production, the brokerage was recognized as the No.1 office in both transactions closed and total sales volume for the entire NextHome national franchise of more than 400 locations. 

“We couldn’t be more proud of David, Vadim, and the entire NextHome Experience team for their hard work and dedication to serving their community,” said James Dwiggins, CEO of NextHome, Inc. “Not only are they incredible real estate professionals and experts in their field, but impeccable human beings you want to surround yourself with.”

Please join us in congratulating NextHome Experience on their continued success!


Interested in being a part of the NextHome Real Estate Franchise? Contact VP of Sales Charis Moreno at


Each office is an independently owned and operated business.

NextHome expands in Philadelphia area

NextHome expands in Philadelphia area

George Kotsopoulos

Pleasanton, CA — April 1, 2020 — NextHome is pleased to announce the expansion of NextHome Alliance, based in Warminster, Pennsylvania. Owned by George Kotsopoulos, the new office builds on the success of his first location in Douglassville. 

The brokerage represents the 11th office location opened in Pennsylvania for the NextHome franchise and the 452nd NextHome office opened nationally.

George is thrilled to be able to open a brokerage in Bucks County, where he was born and raised. 

“It’s where most of my contacts are and we have incredible people working there already,” George said. 

Located north of Philadelphia, the brokerage will serve clients across the city’s western suburbs. In addition, NextHome Alliance will continue to provide superior customer service across Reading, Pottstown, Boyertown, Douglassville, Allentown, and the remainder of Bucks, Montgomery, Berks, and Philadelphia counties. 

The Alliance team is experienced in all types of residential sales and is especially well-versed in investment and flip properties. In addition, team members provide prowess in property management and multi-family real estate.

George began his professional life as a real estate attorney and business leader. After law school, George started work with a national title company. In 1997, he opened his own title insurance agency – Capital Assurance Group. 

After years of working closely with many talented real estate agents, George got his brokers license in 2014. As a newly-minted broker, George transitioned his business into a real estate brokerage with an in-house title company. 

“As an attorney, I’ve always represented REALTORS®, but when I started working as one I developed a greater respect for the efforts they put forward on a daily basis,” George said.

Agents were certainly not required in any way to use the title company services, but the bundle of business helped George and those around him offer a streamlined experience for clients who wanted it.  

Then, George partnered with other area agents as their broker of record as they opened a nationally franchised office. 

“In three years, we were able to grow the company from five to 50 agents,” George recalled. “My time in this role really helped me to understand how to skillfully grow a company.”

Eventually, George decided it was time to open his own brokerage under the NextHome banner. 

“I sent an email to NextHome to inquire about their business and I literally got a call back that same afternoon,” George recalled. “Being responsive is something that I pride myself on, so that call made me feel that I had found my kind of people with NextHome. Charis (NextHome’s Vice President of Sales) went into what the franchise has to offer and I thought the opportunity was ideal.”

George officially opened his Douglassville doors in late June of 2019, and since then has attracted the area’s best agents to his brokerage. 

“I think my 20-plus years of experience as a real estate attorney is very attractive to high-performing agents,” George said. “I want to be able to keep quality for our clients at the center of what we do. We are an office of producing, career-oriented REALTORS®. For the NextHome Alliance team, it’s not all about the numbers – it’s about the quality of the experience.”

When he isn’t guiding the NextHome Alliance team, George enjoys the area’s stunning beaches and attending country music concerts with his wife, Lisa. This year, George and Lisa are celebrating 29 years of marriage. Together, they are the proud parents of Will (25) and Kate (22).

Please join us in congratulating George on the expansion of NextHome Alliance in Warminster, Pennsylvania!


Interested in being a part of the NextHome Real Estate Franchise? Contact VP of Sales Charis Moreno at


Each office is an independently owned and operated business.

NextHome announces new Palm Coast, Florida office

NextHome announces new Palm Coast, Florida office

Paige Brewer & Michelle McKinney

Pleasanton, CA — March 31, 2020 — NextHome is pleased to announce the newest addition to the franchise, NextHome At The Beach II, based in Palm Coast, Florida. The brokerage represents the 69th office location opened in Florida for the NextHome franchise and the 451st NextHome office opened nationally.

NextHome At The Beach II will serve buyers and sellers in the beautiful Flagler and Volusia counties. The brokerage is owned by Florida real estate veterans Paige Brewer and Michelle McKinney. Paige is NextHome At The Beach II’s broker of record while Michelle handles the business’s day-to-day operations. This newest office will compliment Paige’s two other NextHome ventures in Daytona Beach and Miami. 

Palm Coast’s continuing growth made the decision to expand easy. 

“Once people discover Palm Coast they want to move here,” Paige said. “ With all the local shopping, the outdoor opportunities, and the incredible food it becomes everyone’s dream retirement location.”

Paige started her real estate career in Louisiana in 2009 and moved to Daytona Beach upon her husband’s retirement from the military. His retirement proved to be the perfect opportunity to move to a Florida beach community. Paige opened NextHome At The Beach in Daytona Beach in early 2017 and expanded with a second Miami-based branch in early 2019. 

Michelle, who is also a military spouse, began her real estate career in Virginia Beach at a local independent brokerage. Two years later, she joined NextHome and began working with Paige at the Daytona Beach office. 

“I looked at about 10 or 11 different brokerages before I made my decision on who I wanted to go with,” Michelle recalled. “As an agent, I wanted to stand out and be different. I knew I needed to partner with a brokerage that gave me unparalleled branding and marketing options. After an incredible amount of research, I knew that NextHome offered exactly what I wanted.”

Michelle also knew that she was joining an office with a record of excellence. In 2016, the Daytona team sold over $13 million in sales volume with 57 transaction sides – exceptional numbers in a market where the average sales price was $230,000.

Today, Michelle and Paige are combining their talents to bring that same level of excellence to Palm Coast clients. 

“As a leader in business, it is important to look for people who bring synergy,” Paige said. “You need to bring someone in who can strengthen you where you are weak, and Michelle has those qualities. The fit is just right.”

With their combined talents, Michelle and Paige are building an office where experienced, high-producing agents can feel at home and where clients receive exceptional service. 

“Our branding is very forward,” Michelle said. “We offer things that no other brokerage can – not only superior marketing for your property, but also a national connection to a world-class network of brokerages. With NextHome, we are all one big family. It doesn’t matter if you are in Texas or Palm Coast, we can talk to any NextHomie and get great advice and support.”

When they aren’t building their business and helping clients, Michelle and Paige stay busy volunteering for industry associations and supporting their community. 

In 2016, Paige served as the President of the Women’s Council of REALTORS® – Daytona Beach Area Network and in 2017 served as the District Vice President for District 8 and 9 for the state of Florida. In 2019, she was NextHome’s Education Committee Chair and in 2020 she is the State Vice President for the Women’s Council of REALTORS® Florida. 

Michelle is the proud wife of a U.S. Navy Service Member and the mother of three children. Michelle and her husband Joel have been together since 2008 and were married in 2012 and are the proud parents of Caleb (12), Alexis (5), and Zoe (3). 

Please join us in congratulating Michelle and Paige on the opening of NextHome At The Beach II in Palm Coast, Florida!


Interested in being a part of the NextHome Real Estate Franchise? Contact VP of Sales Charis Moreno at


Each office is an independently owned and operated business.

Information From Past Pandemics, And What We Can Learn: A Literature Review

Information From Past Pandemics, And What We Can Learn: A Literature Review

The United States has officially entered a bear market, with major financial indices falling by more than 20% since the beginning of the year. The market has fallen in response to a mix of information, including global community spread of the Novel Coronavirus COVID-19, a travel ban for Europeans into the US, and general uncertainty about a fiscal response to the virus.

Zillow Research conducted a deep dive into past research and data on the economic effects of global pandemics to help provide perspective on what the future could hold under various scenarios. We found the following main quantitative patterns:

  • During epidemics such as the 1918 influenza or the 2003 SARS outbreaks, economic activity fell sharply during the epidemic (a 5-10% temporary hit to GDP or industrial production over the course of the epidemic) but snapped back quickly once the epidemic was over.
  • This pattern differs from a standard recession, which is a situation in which economic activity falls for 6-18 months and then recovers more slowly.
  • During SARS, Hong Kong house prices did not fall significantly, but transaction volumes fell by 33-72% as customers avoided human contact (“avoidance behavior” like avoiding travel, restaurants, and public gatherings). After the epidemic was over, transactions snapped back to normal volumes.
  • During the current episode in China, early news reports indicate that home prices have so far not fallen but transactions have nearly ceased.
  • During standard recessions, home prices and transaction volumes may fall but this is not always the case (e.g. the 2001 recession).
  • Before February 2020, leading economic indicators (job openings, the yield curve, interest rate spreads, and sentiment indicators) were giving mixed signals about the risk of a standard recession this year, with betting markets (PredictIt, 2020) giving probabilities ranging from 30% in December 2019 to 15% in January 2020, rising to 44% as of March 1. PredictIt defines a recession as at least two consecutive quarters of falling GDP.
  • It is difficult to precisely forecast the probability of an epidemic-related downturn and/or how such a downturn could provoke a standard recession because this depends on how COVID-19 progresses and how this progress interacts with preexisting recession risks and policy responses (ranging from doing nothing to shutting down entire cities for months at a time).

Digging Deeper – Insights From Historical Data and From the Literature

Empirical research into the SARS and 1918 influenza pandemics both indicate a significant loss in output during the time of the pandemic. Hong Kong lost 5.1% of monthly output during the 5 months of the SARS epidemic (or 1.75% of annualized GDP) and the US lost between 7% and 9.5% of monthly industrial production during the 1918 influenza epidemic, with an effect on annual GDP of 0.5%. The effects vary by sector–the epidemics led to people curtailing unnecessary social activities and curtailing human contact, which led to larger falls in services and (semi-)durable goods, while the effect on manufacturing is influenced by trade spillovers.

Since consumers wish to avoid nonessential human contact, the 2003 SARS pandemic led to a temporary fall in monthly real estate transactions from 33% to 72% vs. baseline for the duration of the epidemic, while real estate prices held steady.

Meanwhile, during the current episode in China, news reports and early data provided by Goldman Sachs (2020) indicate a near-shutdown in the volume of Chinese real estate transactions, although there is not yet a clear effect on real estate prices.

Zillow Economic Research (2020) Hong Kong, SARS, 2003 Aggregated macro data 1.75% loss in annualized GDP, or 5.1% monthly loss at peak. Quick recovery to trend after end of pandemic. 1.3% increase in unemployment; unemployment recovered within 3 quarters. Statistically insignificant 1.9% fall in home prices, count of transactions down by an average of 33% for duration of pandemic.
Lee and McKibbin (2012) Multiple countries, SARS, 2003 Theoretical model 2.63% loss in annualized GDP for Hong Kong, 1.05% loss for China. Size of loss depends on policy response.
Wong (2008) Hong Kong, SARS, 2003 Micro data on 44 housing estates 1.6% fall in home value, 2.8% in infected areas. 72% fall in transactions volume.
Siu and Wong (2004) Hong Kong, SARS, 2003 Disaggregated macro data Shift to at-home consumption, away from travel, restaurants, and entertainment. Trade was mainly unaffected.
James and Sargent (2006, 2006a) Canada and US mild flu pandemic Aggregated macro data Loss of Canadian industrial production of 1.2% at peak of epidemic (Oct 1957). 0.3% to 1.1% of annualized GDP. Coincided with a recession.
CBO (2006) US, mild flu pandemic Theoretical model 1% loss of annualized GDP.
Keogh-Brown et al. (2010) UK, mild flu pandemic Theoretical model 0.6%-2.5% loss of annualized GDP, depending on how customers shift their consumption behavior.
James and Sargent (2006) US, severe flu pandemic Aggregated macro data 1918 flu saw annual GDP impact of 0.5%, with loss of 7% of monthly industrial production at peak (Oct 1918). Coincided with drawdown surrounding end of World War I and a recession.
CBO (2006) US, severe flu pandemic Theoretical model 4.25% loss of annualized GDP.
McKibbin and Sidorenko (2006, 2006a) US, severe flu pandemic Theoretical model 5.5% loss of annualized GDP.
Cooper (2006) US, severe flu pandemic + trade disruption Theoretical model 6% loss of annualized GDP, of which 1.75% is due to trade disruption.
Zillow Economic Research (2020) US, severe flu pandemic, 1918 Aggregated macro data 9.5% loss in industrial production in October 1918 (peak of epidemic) vs. July 1918, but less reliable data on other sectors.
Kennedy, Thompson, and Vujanovic (2006) Australia, severe flu pandemic Theoretical model 6% loss of annualized GDP.
Douglas, Szeto, and Buckle (2006) New Zealand, severe flu pandemic Theoretical model 5-10% loss of annualized GDP.
Keogh-Brown et al. (2010) UK, severe flu pandemic Theoretical model 4.5%-6% loss of annualized GDP, depending on how customers shift their consumption behavior.

Case study: SARS in Hong Kong (2003)

The SARS epidemic began in the Guangdong province of China in November 2002. In February 2003, the first confirmed cases appeared in Hong Kong. The epidemic peaked in March and April 2003 and trailed off during May and June, until Hong Kong was removed from the WHO’s list of affected areas on June 23.

The chart below shows how real GDP and unemployment evolved before, during, and after the SARS epidemic. GDP data are shown as a percent relative to a Q4 2001 baseline. Both datasets are obtained from the Hong Kong Monthly Digest of Statistics, various issues.

Hong Kong GDP growth during the SARS outbreak

Until the onset of SARS in February, GDP was growing and unemployment was falling, consistent with an economic expansion. Then, GDP fell precipitously throughout the duration of the epidemic (by our estimation, 5-6% below trend in April and May), and unemployment rose from 7.4 percent to 8.7 percent, for a 1.3 percent increase. Once the epidemic subsided, GDP snapped back to its pre-epidemic trend, while unemployment took until the winter to recover. Altogether, the total gap between actual and trend GDP during this period is consistent with a loss of 1.75% of annual GDP as a result of SARS, which when spread over 4 months instead of 12, represents a fall in monthly GDP of 5.1%.

This loss is slightly smaller than (but of the same order of magnitude as) the model-based projections of Lee and McKibbin (2012), who predict a larger effect of the disruptions to economic activity caused by the epidemic. Lee and McKibbin simulate such an epidemic using a theoretical model (the “G-cubed” model), and they predict a loss of 2.63% of annual GDP for Hong Kong as a result of the SARS epidemic, versus a loss of 1.05% of annual GDP for China. Lee and McKibbin find that their larger loss prediction is driven by the behavior of macro policy in their model. If macro policy responds effectively to an epidemic, then the loss in output would be smaller than if it did not respond.

We also have data on the behavior of real residential real estate prices and the volume of secondary residential transactions. The chart below shows a real residential real estate price index compiled by the Bank for International Settlements (BIS) (2020), as a percent relative to a Q4 2001 or November 2001 baseline. It also shows raw transaction counts of secondary residential real estate transactions, not seasonally adjusted, from Midland Realty (2020).

Hong Kong real estate market during the SARS outbreak

By the time that SARS hit in February 2003, the Hong Kong real estate market had already experienced a downward trend in transactions and in a real residential price index. Between February and May 2003, transactions were 33% below their January 2003 value, before returning to normal by July. We note that this fall is difficult to distinguish from the preexisting downward trend. Meanwhile, real property prices fell to 1.9% below trend in May and then recovered, although this fall is difficult to distinguish from other real estate price swings that are unconnected with SARS.

Elsewhere in the literature, Wong (2008) comes to similar conclusions with respect to house prices. She finds, based on transactions data covering 44 housing estates, that the onset of SARS coincides with a 1.6% decrease in house prices versus a pre-SARS trend (which is comparable with our 1.9%). Importantly, she also finds that the onset of the SARS epidemic coincides with a 72% reduction in transaction volumes for these estates. She explains this pattern (small price reductions coincided with a large reduction in volume) as customers adopting a “wait and see” approach, whereby they avoid nonessential interactions with other people, instead waiting until the end of the epidemic to defer their transactions. This avoidance behavior is noted by Jonas (2013) as a major transmission mechanism from pandemics to economic risk.

Looking beyond real estate, Siu and Wong (2004) examine disaggregated macro data from the SARS episode, and they find that the travel, tourism, durable and semi-durable retail, and entertainment sectors were strongest hit, while production and exports were less affected. This pattern is also consistent with customers avoiding nonessential interactions, although the effect of the crisis on production and exports depends on the extent of the crisis in trading partners, and whether or not that crisis affects supply chains.

Theoretical and Empirical Evidence from the Influenza Literature

Beyond the SARS literature, there is an extensive literature on the past and likely effects of an influenza epidemic. The Congressional Budget Office (CBO) (2006) summarizes much of this literature, giving a predicted loss caused by a severe flu epidemic (similar to 1918) of about 4.25% of annual GDP and an estimated loss caused by a mild epidemic (similar to 1957 or 1968) of about 1%. In both cases, the CBO predicts that economic activity would snap back quickly after the epidemic ended, which is consistent with the data from the SARS epidemic in Hong Kong. However, since these theoretical models are mainly constructed using annual aggregates, the models do not make any specific predictions about monthly or quarterly aggregates.

Theoretical studies of influenza pandemics mostly land at losses in excess of 5% of annual GDP. For instance, a study by Kennedy, Thompson, and Vujanovic (2006) simulates a pandemic with ⅓ the mortality rate of the pandemic using a theoretical model. They find a reduction to Australian GDP of about 6%. Similarly, Douglas Szeto and Buckle (2006) predict that a severe pandemic would reduce New Zealand GDP by 5-10%. Meanwhile, McKibbon and Sidorenko (2006) predict that a severe pandemic would reduce US GDP by 5.5%, while Cooper (2006) simulates the CBO’s scenario but with disruptions to trade, and finds a 6% decline instead of a 4.25% decline in GDP. For the UK, Keogh-Brown et al. (2010) simulate mild and severe pandemics and find GDP losses of 0.6% to 2.5% for the mild scenario and 4.5% to 6% for the more severe scenario.

Contrasting with the theoretical studies, the empirical study of James and Sargent (2006) predicts that a severe flu pandemic would reduce Canadian GDP by 0.3 percent to 1.1 percent. James and Sargent base their estimates on macro data from US flu pandemics in 1918, 1957, and 1968. They find that the severe 1918 pandemic reduced annual GDP by 0.5% in 1918, with smaller effects from the other two mild pandemics. James and Sargent also cite data from the SARS outbreak, finding that while SARS severely affected tourism, travel, and services in the short run, it did not harm Hong Kong’s productive capacity in the medium run. In a similar vein, Garrett (2007) documents severe localized effects of the 1918 pandemic in places such as Little Rock, where merchants reported a 40-70% decrease in sales during the pandemic, and Memphis, where a pandemic-induced labor shortage disrupted operations. Altogether, these disruptions corresponded with a fall in a monthly industrial production index from 123.4 in July 1918 to 112.2 in October 1918 (-9.5%). The underlying data are reported by Persons (1931) and would correspond with a 2.4% fall in annual GDP for a three-month pandemic, given that industrial production is ordinarily more volatile than GDP. In addition, the Federal Reserve Bulletins from the time report significant disruptions to retail trade (up to one-third of the workforce out at any specific time) and especially to nonessential gatherings.

Altogether, the theoretical literature on influenza has given somewhat larger output losses than historical data, although the empirical literature and historical data indicate that output losses vary according to geography (harder-hit areas have higher output losses) and sector (nonessential services being hardest hit). Furthermore, trade disruptions can make the impact of the epidemic larger than it would otherwise have been.

Early Indications from the COVID-19 Outbreak in China

While official data are still not yet ready for January or February 2020, unofficial data reported by Brown (2020) at Marketwatch indicate that Chinese house prices remained stable from December to January (+0.27%) although the volume of transactions has fallen by 90 to 98% from normal. This episode illustrates a particularly strong “wait and see” pattern similar to what happened during the SARS outbreak–customers are not going to walk-throughs or closing on transactions in person. Data in upcoming weeks will tell us how long this outbreak lasts in China.

Additionally, a report by Hatzius et al. (2020) at Goldman Sachs shows detailed activity data from China during the current episode. The Hatzius report corroborates the Brown report–property transactions and transportation have nearly ceased due to avoidance behavior (some of it driven by a public policy response) while the consumption of coal fell by only 30% year over year, since people still need to heat their homes.


Appendix: Data Sources for Hong Kong Analysis

  • Monthly GDP: GDP is officially measured on a quarterly basis–we took seasonally adjusted growth rates from the Hong Kong Monthly Digest of Statistics, various issues. We first took logarithms and then interpolated it to a monthly basis using our own interpolation algorithm based on Fernandez (1981). We therefore urge caution in interpreting month-to-month movements.
  • Monthly unemployment: We took seasonally adjusted unemployment rates from the Hong Kong Monthly Digest of Statistics, various issues. The unemployment rate is presented in the Digest as a 3-month centered moving average.
  • Monthly real residential real estate prices: We took quarterly unadjusted real residential real estate prices from the St. Louis Fed’s FRED website. The original source of these data is the Bank of International Settlements (2020). We seasonally adjusted these data ourselves, took logarithms, and then interpolated it to a monthly basis using our own interpolation algorithm. We therefore urge caution in interpreting month-to-month movements.
  • Monthly real estate transactions: We took raw secondary transactions volumes directly from the online datasets published by Midland Realty (2020).


Bank for International Settlements (BIS), 2020, via FRED Database. “Selected residential property price series – data documentation”. Source: National sources, BIS residential property price database ( FRED URL:

Brown, Tanner, 2020. “Coronavirus slows China’s property market to a crawl — and even the most robust real-estate app is no match.” Marketwatch, Feb. 21, 2020, retrieved on Feb. 28, 2020. URL:

Census and Statistics Department, Hong Kong Special Administrative Region, 2020. Hong Kong Monthly Digest of Statistics, various issues.

Congressional Budget Office (CBO), 2006. “A Potential Influenza Pandemic: An Update on Possible Macroeconomic Effects and Policy Issues.” Manuscript, Congressional Budget Office. URL:

Cooper, Sherry, 2006. “The Avian Flu Crisis: An Economic Update.” Manuscript, BMO Nesbitt-Burns.

Douglas, James, Kam Szeto, and Bob Buckle, 2006. “Impacts of a Potential Influenza Pandemic on New Zealand’s Macroeconomy.” Policy Perspective Paper 06/03, New Zealand Treasury. Retrieved February 28, 2020. URL:

Federal Reserve Bulletin, various issues, via Thomson Reuters. “References to ‘influenza’ in the monthly Federal Reserve Bulletin during 1918 and 1919.” Retrieved on Feb. 28, 2020. URL:

Fernández R.B. 1981. “A methodological note on the estimation of time series,” The Review of Economics and Statistics 63, pages 471-478. URL:

Garrett, Thomas A., 2007. “Economic Effects of the 1918 Influenza Pandemic.” Manuscript, Federal Reserve Bank of St. Louis. Retrieved on Feb. 27, 2020. URL:

Goldman Sachs, 2020. “A Larger Virus Hit and Another Round of Rate Cuts.” US Economics Analyst, March 1, 2020. Retrieved March 2, 2020. URL:

Hatzius, Jan, Daan Struyven, David Choi, and David Mericle, 2020. “A Viral Global Slowdown.” Global Economics Analyst, Goldman Sachs Economic Research. Retrieved on March 1, 2020. URL:

Kennedy, Steven, Jim Thompson, and Petar Vujanovic. “A Primer on the Macroeconomic Effects of an Influenza Pandemic.” Working Paper 2006-11, Treasury of Australia. Retrieved on Feb. 27, 2020. URL:

James, Steven, and Timothy Sargent, 2006. “The Economic Impact of an Influenza Pandemic.” Mimeo, Economic Analysis and Forecasting Division, Department of Finance, Government of Canada. Retrieved on Feb. 27, 2020. URL:

James, Steven, and Timothy Sargent, 2006a. “The Economic Impact of SARS and Pandemic Influenza.” In: SARS in Context: Memory, History, Policy, ed. Jacalyn Duffin and Arthur Sweetman. McGill-Queen’s Press. Retrieved on Mar. 1, 2020. URL:

Jonas, Olga, 2013. “Pandemic Risk.” World Development Report Background Paper, the World Bank. Retrieved on Feb. 27, 2020. URL:

Keogh-Brown, Marcus, Simon Wren-Lewis, W. John Edmunds, Philippe Beutels, and Richard D. Smith, 2010. “The Possible Macroeconomic Impact on the UK of an Influenza Epidemic.” Health Economics 19(11), pages 1345-1360. Retrieved on Feb. 28, 2020. Working paper version URL:

Lee, Jong-Wha, and Warwick J. McKibbin, 2012. “The Impact of SARS,” in China: New Engine of World Growth, Garnaut, Ross, and Ligang Song, eds. ANU Press. Retrieved on Feb. 28, 2020. URL:

McKibbin, Warwick J., and Alexandra Sidorenko, 2006. “Global Consequences of Pandemic Influenza.” Manuscript, Brookings Institution, Lowy Institute for International Policy. Retrieved on Feb. 27, 2020. URL:

Midland Realty, 2020. “Statistics of Properties Transactions in Land Registry – Last 12 Months.” Retrieved on February 28, 2020. URL:

Persons, W.M., 1931. Forecasting Business Cycles. John Wiley, New York, pages 93-143. Data available in the NBER Macrohistory database, via the St. Louis Fed FRED database. Retrieved on Feb. 28, 2020. URL:

PredictIt, 2020. “Will there be a recession in Trump’s 1st term?” Retrieved March 2, 2020. URL:’s-1st-term

Siu, Alan, and Y.C. Richard Wong, 2004. “The Economic Impact of SARS: The Case of Hong Kong.” Asian Economic Papers 3:1, pages 62-83. Retrieved on Feb. 27, 2020. URL:

Wong, Grace, 2008. “Has SARS Infected the Property Market? Evidence from Hong Kong.” Journal of Urban Economics 63(1), pages 74-05. Retrieved on Feb. 27, 2020. URL:

Protecting your Furry Friends!

Protecting your Furry Friends!

Rolling into springtime and the month of March is always an exciting calendar change!  Not only do we get to “Spring Forward” with the clocks and enjoy more sunlight, but we also have warmer weather and time outdoors to enjoy with our pets.  The month of March happens to also hold these lesser-known “holidays:”

March is “Pet Poison Prevention Month”

March 3rd – 9th is “Professional Pet Sitter’s Week”

March 23rd is National Puppy Day

March 28th is Respect Your Cat Day

With so much emphasis given in March to our animals, we thought it was only right to highlight the Pet Insurance opportunity with Gateway Insurance Group.

We know how NextHomies love Luke!

We like to think Luke would be proud that Gateway Insurance Group has pet insurance policies available so Luke, and his NextHomies, don’t have to worry about the unexpected expenses that arise from veterinary bills.

Whether you’re looking for coverage on pet illness, cancer, emergency veterinary care, accidents or genetic conditions, pet insurance may have the coverage you need.

Gateway Insurance Group has partnered with “Healthy Paws” coverage. Highlights of their plans include:

  • No cap on maximum limit payouts
  • No costly “add ons”
  • Use at any licensed Vet
  • Easy to file claims right from your mobile device!

Protecting your Furry Friends has never been easier or more affordable.

To get a quote, visit our link at:

NextHome Complete Realty announces Phoenix expansion

NextHome Complete Realty announces Phoenix expansion

Pleasanton, CA — March 19, 2020 — NextHome is pleased to announce the expansion of NextHome Complete Realty in Phoenix, Arizona. The brokerage is the second location for top-producing couple Jim Snodgrass and Maria Serino and represents the eighth NextHome office opened in Arizona for the franchise. 

This new brokerage will serve clients across Glendale, Avondale, Surprise, Goodyear, Buckeye, Tolleson, West Scottsdale, Phoenix, and the West Valley area.

Phoenix continues to be one of the fastest-growing areas in the nation, with Forbes ranking it among the top cities to find a job in 2020. 

“It’s a market that we’ve always wanted to be in,” Jim said. “We have had three great agents working around this area for a while and it was about time we had an office here.”

The Phoenix office is about 80 miles from Jim and Maria’s first NextHome Complete Realty location in Sahuarita, which they opened in 2017. 

“When clients work with NextHome Complete Realty, they are going to experience an amazing real estate transaction,” Jim said. “They are going to have superior guidance and agents who care about people the way they should.”

Jim’s first connection to real estate came when he found himself as a lead generator for a friend.

“My friend was a REALTOR® and I was sending them a lot of referrals from people I knew who were interested in buying and selling a home,” Jim recalled. “With as many leads I was providing, I thought it made sense to get my real estate license and work in real estate myself.”

Starting his real estate career in 2005, Jim saw immediate success as a REALTOR®. His background in business development in the medical field proved valuable and he quickly built his business. It was going so well that Maria joined him just a year later to become a two-person team to handle clients.

With 12 years at Tierra Antigua Real Estate, the couple was consistently at the top of the local sales rankings. They would often close more than 100 transactions annually.

After more than a decade of working for another broker, Jim and Maria felt it was the right time to open their own brokerage. With a degree in marketing and brand management, Jim wanted to start a real estate company that had a focus on consistent, clean branding and had the flexibility to adapt to a changing market.

“Maria and I were able to keep our business steady through the downturn of the economy by being proactive with our model and adapting to the shift,” Jim said. “By moving to short sale listings, we were able to not only stay consistent with our business, but become a resource for those in our community who needed it during a difficult time.”

After finding out about NextHome, the couple called several NextHome franchisees to see how they felt about being involved with a relatively newer franchise brand.

“Just speaking to the several NextHome brokers over the phone, I could tell they felt connected to the company,” Jim said. “That comfortability to tell us what they honestly felt about NextHome and how happy they were, let us know that this was the company for us.”

When not selling real estate, the couple of 19 years enjoy traveling and spending time with their two children, Antonio (17) and Angelina (15).

Please join us in congratulating Jim, Maria, and the rest of the team at NextHome Complete Realty on their expansion in Phoenix!


Interested in being a part of the NextHome Real Estate Franchise? Contact VP of Sales Charis Moreno at


Each office is an independently owned and operated business.

NextHome On The Lake opens in Greensboro, Georgia

NextHome On The Lake opens in Greensboro, Georgia

Jo Jones

Pleasanton, CA — March 17, 2020 — NextHome is pleased to announce the newest addition to the franchise, NextHome On The Lake, based in Greensboro, Georgia. The brokerage represents the seventh office location opened in Georgia for the NextHome franchise.

Conveniently located halfway between Atlanta and Augusta, Greensboro is a small town filled with local southern charm. The brokerage is owned by 40-plus-year real estate veteran Jo Jones. From her centrally located office in Greensboro, Jo and her team of professional agents can serve clients across Greensboro, Madison, Eatonton, and Milledgeville in the four counties of Greene, Morgan, Putnam, and Baldwin. 

Jo began her real estate career in the early 1980s, buying and then renting homes in Arlington, Texas. Eventually, she began working with Prudential Properties in Greensboro where she stayed for a year and a half. Her career then transitioned to another large, franchised brokerage before Jo settled in with a small independent office in Greensboro. 

After several years of selling success, Jo opened her own brokerage in 2011 – Jo Jones & Company. The office filled the needs of a niche market in Greensboro, providing unparalleled service for short term vacation rentals. 

By this time, Jo’s daughter, Tiffany, had joined the real estate industry and the mother and daughter duo began exclusively serving vacation rental owners. 

“No one in the area had done much with the vacation rental business when we came in, organized the process, and became the biggest vacation rental business in a very short time,” Jo said.

This focus ended up being a savvy business maneuver at a time when the industry was riddled with foreclosures and homeowners struggled through The Great Recession. 

“People were at risk of losing their homes, but we knew that this was a stunning, high-end, resort area with a lot of second and third homes, beautiful lake and golf retreats, and so much natural beauty it will take your breath away,” Jo recalled. “So we offered homeowners a way to cut expenses and create income without losing their homes. We knew when the market turned for the better these owners would become our sellers because of the wonderful relationship we had created with them.” 

On the flip side, because a lot of people didn’t have the means to go on lavish vacations during the Great Recession, the concept of the “staycation” gained steam. 

“The locals in the surrounding bigger cities, like Atlanta and Augusta, know and love this area, so we became the “go-to” staycation spot for Georgia,” Jo said. “Those guests became our buyers when the market turned positive again.”

In 2015 Jo and Tiffany divided the company with Tiffany assuming ownership of the short-term vacation rental business, rebranding to St James Vacation Homes. Jo retained the sales and long-term rentals. Even today the companies are exclusive partners to one another. In essence, the family owns all three pieces of an extremely robust real estate market.

After weathering the housing downturn, Jo knew it was time to take her marketing strategy to the next level. 

“My weakness as an independent brokerage was robust marketing,” Jo said. “Anyone who owns an independent will tell you that it is a real struggle. I was really looking for someone who excelled in marketing.”

While researching real estate marketing online, Jo discovered NextHome’s mascot Luke.

“I’m a huge dog lover and that really got me looking at the franchise,” Jo recalled. “Luke caught my attention, but the rest of the tools and support that NextHome offered really pulled me in. NextHome made it so easy – it was exactly what I was looking for.” 

Today, Jo is setting NextHome On The Lake apart by focusing on two specific aspects of the Lake County real estate economy – sales and long-term vacation rentals. 

“My goal is to create great relationships, give everybody exceptional service, and let things go from there,” Jo said. “We don’t have to be the biggest, we just need to be the best.”

When she isn’t focused on her clients, Jo is known for her love of animals. She regularly rescues stray and abandoned dogs on the side of the road and currently resides with seven of them. She is an annual premier sponsor of the Mansfield Oil Golf Tournament, a fundraiser for the Muscular Dystrophy Association. 

Jo has been married to her husband Jim for 44 years and together they have three daughters. 

Please join us in congratulating Jo on the opening of NextHome On the Lake in Greensboro, Georgia!


Interested in being a part of the NextHome Real Estate Franchise? Contact VP of Sales Charis Moreno at


Each office is an independently owned and operated business.

NextHome announces new Ohio brokerage

NextHome announces new Ohio brokerage

Amanda Mignano

Pleasanton, CA — March 11, 2020 — NextHome is pleased to announce the newest addition to the franchise, NextHome New Horizons Equity Realty, based in Byesville, Ohio. The brokerage represents the seventh office location opened in Ohio for the NextHome franchise.

The brokerage is owned by top-producing seller Amanda Mignano. With her guidance and leadership, NextHome New Horizons Equity Realty can offer superior service and expertise in lake-front properties, farms, and commercial transactions. In addition, NextHome New Horizons Equity Realty agents have extensive experience in all types of residential transactions, including relocations, investments, and REO properties. 

NextHome New Horizons Equity Realty serves buyers and sellers across eastern Ohio including  Guernsey, Noble, Muskingum, and surrounding counties. Located just 10 minutes south of Cambridge, Byesville is a small town of just over 2,400 people that sits just minutes past Interstates 70 and 77 in Southeastern Ohio. Amanda is originally from Monroe County in Southeastern Ohio, and moved to Guernsey County in 2008.

During a brief period prior to beginning her career, Amanda resided in Summit County, Ohio while attending college at Kent State University.

“The woman who sold us our house at the time became my introduction to the industry,” Amanda recalled. “I was pregnant with my third child and she offered me a job as a secretary for her. The job was such a blessing because it was more flexible and I could bring my daughter to work.”

Amanda thoroughly enjoyed her time at Croft Realty, a small independent brokerage. However, when the housing market began to falter in 2007, Amanda’s secretarial position became one of its casualties.  

Amanda decided then it was time to obtain her real estate license. She became licensed with Croft Realty and started working shortly after with Real Living Realty One in Wadsworth prior to moving back to Southeastern Ohio. She then worked at Real Living Parry Real Estate in Cambridge. For the next several years, Amanda muscled her way through The Great Recession as a real estate agent picking up whatever work she could. 

“I took my training and the things I had learned through experience and I really used the franchise’s tools to build my career,” Amanda said. “I was able to find a little more success than other agents around me and, in time, I began to really build my reputation and my contacts.”

In November 2010, Amanda accepted an offer to join Century 21 Gibson Turner and Associates. Since joining the brokerage, she has been that office’s REALTOR of the Year, earning the distinction every year from 2011 to 2018. 

During the height of her career, Amanda was able to close 84 transaction sides, handing $3.2 million in sales volume. The achievement is even more remarkable in an area where the average home price hovers around $80,000. 

In 2018, Amanda felt the need to take her career to the next level. 

“I had accomplished what I could as an agent and I knew in order to continue growing I needed something more,” Amanda said. “I needed to grow in my business and the only way to do that was to continue my education and to open my own office.”

Amanda began to research all different types of franchises and, through an internet search, she discovered NextHome. 

“The access we get to company leaders and the ability to talk to real people was a huge incentive,” Amanda said. “When I talked with (NextHome’s VP of Sales) Charis Moreno, there was no beating around the bush. She told me exactly what I wanted to know and the whole process was very simple and open. She treated me the way I wanted to be treated.”

Today, NextHome New Horizons Equity Realty is leveraging NextHome’s excellent branding, internet presence and reputation to serve a growing number of clients. 

“The internet presence was very important to me,” Amanda said. “The company also maintains a great reputation and the people who work for NextHome really set it apart.”

Amanda is continuing to build her brokerage with high-producing agents who are looking for a leader who understands their unique needs. 

“As a top-producing agent for all those years, I’m able to sit across from those agents who might want to join NextHome New Horizons Equity Realty and say, honestly, that I know what a brokerage needs to provide agents who want to be high-producers,” Amanda said. “What we can offer is a level of enthusiasm and creativity – we think outside of the box. In addition, I think agents will really enjoy the team aspect that we have. This brokerage is run with a collaborative spirit rather than a competitive one.” 

When she is not building her business, Amanda enjoys kayaking at nearby Hawking Hills, yoga, and outdoor sports. She has also served as her local board president, vice president, and director, and OAR district director.

Amanda will celebrate 15 years of marriage to her husband Scott this July. The couple shares five children; Jeffery (32), Michale (30), Kaylee (21), Megan (18), and Sara (14), along with four beautiful grandchildren.

Please join us in congratulating Amanda on the opening of NextHome New Horizons Equity Realty in Byesville, Ohio!


Interested in being a part of the NextHome Real Estate Franchise? Contact VP of Sales Charis Moreno at


Each office is an independently owned and operated business.

NextHome announces new Hollister brokerage

NextHome announces new Hollister brokerage

Nants Foley & Barbara Douglass-Scherer

Pleasanton, CA — March 10, 2020 — NextHome is pleased to announce the newest addition to the franchise, NextHome Four Corners Real Estate Group, based in Hollister, California. The brokerage represents the 71st office location opened in California for the NextHome franchise and the 443rd NextHome brokerage opened nationally.

NextHome Four Corners Real Estate Group is owned by Barbara Douglass-Scherer and Nants Foley. Together they bring more than 33 years of combined experience to buyers and sellers. Nants has built a reputation of excellence working with residential and ranch/horse property clients. Barbara expertly serves veterans in addition to residential and commercial buyers and Sellers.

Located in the Central Coast of California, NextHome Four Corners Real Estate Group is adjacent to Silicon Valley and actively serves San Benito, Santa Clara, Monterey, and Santa Cruz counties.

Barbara’s real estate industry journey began after 25 years in human resources at the executive level. In 2010, she obtained her real estate license and began working with Century 21 M&M in Los Banos. Her years of working with people in human resources, combined with earning her Bachelor of Science in Organizational Management have been instrumental in Barbara’s approach to real estate. Over the next several years, Barbara had the opportunity to work with other large and small franchises in San Jose, Gilroy, and Hollister.

In 1996 Nants began in real estate with a small family-owned brokerage. Real estate seemed the right career choice for someone with Master’s degrees in both architecture and marketing. She soon obtained her Broker’s license. Over the years she also worked with large companies such as Coldwell Banker and Intero Real Estate Service. In 2015 Nants created an indie brokerage – Four Corners Real Estate.

Barbara and Nants met while collaborating on a successful transaction in Hollister. Nants was the listing agent and Barbara represented the buyers. Their similar philosophy created a working relationship based on customer service and excellent execution made them realize they could work together exceedingly well. Both recognized that they worked well together but little did they know that was the start of a future fabulous partnership!

It was Barbara who found the NextHome franchise opportunity while searching for the cutting-edge technology tools to provide epic service to her clients.

Nants had an anti-franchise bias but kept her mind open to Barbara’s suggestion. Once she looked through NextHome’s promotional materials, Nants was sold. 

“All it took was opening the materials and looking through the resources to know that NextHome was where we needed to be,” Nants said. “It ticked all the boxes for the technology we needed. Also, the cost of being a franchisee was so reasonable I recognized I couldn’t even come close to achieving that value by getting tech pieces together and paying for them separately. It was a no-brainer.”

Today, Nants and Barbara are setting NextHome Four Corners Real Estate Group apart from the crowd utilizing NextHome’s cutting-edge technology, marketing, and commitment to professionalism.

“One of the reasons Nants and I work so well together is that our visions are very much aligned,” Barbara said. “Professionalism and education are our hallmarks. We provide clients with a better experience than they can get anywhere else.” 

NextHome’s #humansoverhouses resonated strongly with both Barbara and Nants.

“The business of real estate has evolved,” Nants explained. “We are operating in a global marketplace. And to excel in that global market, we need to execute with a new level of professionalism, commitment, and excellence. We are a small office, but we are mighty in the tools and technology that we offer our clients.”

Nants has been involved with a long list of community organizations since she and her family moved to Hollister from the San Francisco Bay Area in 1990. She was a Hollister Planning Commissioner for seven years. She served as gubernatorial appointee to the 33rd District Fair Board for seven years. She was a board president when San Benito county’s first women’s crisis center, Emmaus House, opened. In addition, she has been active with the San Benito Chamber of Commerce, the Hollister Downtown Association, and The United Way. She also taught classical ballet for two decades at a local dance studio. With her husband Tim Foley, former San Benito County Superintendent of Schools, they now volunteer their time with DreamPower Horsemanship in Gilroy. The philanthropic organization uses equine therapy to improve the lives of people with mental, physical, or intellectual limitations.

Barbara is also passionate about her community. She supports her husband’s efforts at the American Legion, the Veterans Legion Riders, and the Hollister Lions Club. Barbara also helps out with Save Our Setters Rescue when needed. Her Irish Setter, Harley is happy to help but kind of likes being an “only child” – well, except for Luke!

Please join us in congratulating Barbara and Nants on the opening of NextHome Four Corners Real Estate Group in Hollister, California!

Photo courtesy of Mary Casillas.  


Interested in being a part of the NextHome Real Estate Franchise? Contact VP of Sales Charis Moreno at

Each office is an independently owned and operated business.

NextHome Beach Time Realty expands in St. Pete Beach, FL

NextHome Beach Time Realty expands in St. Pete Beach, FL

Annie Fleeting

Pleasanton, CA — March 3, 2020 — NextHome is thrilled to announce the further expansion of NextHome Beach Time Realty in St. Pete Beach, Florida. The new brokerage offers resort property owners a fresh option for licensed Community Association Management. In addition, NextHome Beach Time Realty will continue to provide friendly and professional residential real estate sales and vacation rental property management services to the Pinellas County area, including the cities of St. Pete Beach, Treasure Island, Madeira Beach, Redington Beach, North Redington Beach, Redington Shores, St. Petersburg and Tierra Verde.

The brokerage builds on the success of NextHome Beach Time Realty’s two other offices. This continuing success is guided by owner Annie Fleeting. Annie opened her first NextHome office in December 2015 in St. Pete Beach and expanded by opening another branch office in Redington Beach in November 2018. The latest addition is their second St. Pete Beach location, in the vacation rental community of Sunrise Resort. Number Three officially opened in November 2019. The new office aims to provide superior resort management service and compliments the brokerage’s recent management agreement with Sunrise Resort. NextHome Beach Time Realty is now managing Sunrise Resort’s 58-units of family-friendly condominium rentals.

“St Pete Beach was just named the #2 beach in the United States and #16 in the world by Trip Advisor for 2020! We have hundreds of thousands of visitors who come here from all over the world,” Annie said. “We are excited about this new facet of our business and are thrilled to provide property owners a management resource that is engaged, connected, and cares.”

Annie is using NextHome’s suite of tools and support to continue to serve clients across the stunning St. Pete Beach and surrounding areas.  

“It is so exciting to be part of something bigger,” Annie said. “We tell people that NextHome is the ‘Google’ of real estate. There is no question the NextHome brand is getting noticed in our county with three of the offices in the Top 100 out of 799 offices being NextHome locations!”

Annie met her future and charming husband, Robert Fleeting in 1982 when he was importing two of Britain’s largest-selling beers into Tampa, FL for a test market. The couple moved to Robert’s home country of Scotland in 1986 and built a successful property development company. Their developments included nightclubs, hotels, and shopping centers. In 1996, the Fleetings sold all of their existing enterprises in Scotland and moved back to the United States.

In truth, real estate has always been a family affair for Annie, who began her career working in her father’s property management company at the age of eleven! (That same company is currently owned and operated by Annie’s brother, Jim, and responsible for managing more than 4,000 units). In 1997, the Fleetings returned to the property development business – this time making a mark in the Florida market. Along with other partners, the couple formed Coral Point Homes – a development group that built more than $150 million in multi-family housing primarily in Pinellas County.

The Fleetings started a real estate brokerage, Beach Time Realty, in 2010 to service the needs of homeowners who wanted to turn existing housing into vacation rentals. As the market improved, Beach Time Realty helped those same property owners sell and reinvest into new properties. With over 50 properties under property management and sales volume increasing, Annie knew it was time to grow her brokerage and franchising with NextHome made the most sense. Every year under the NextHome flag, Annie’s brokerage has dramatically increased both real estate sales and her property management portfolio. In 2019, they sold over $30,000,000 in residential real estate, in addition to adding significantly to their property management portfolio.

“NextHome Beach Time Realty has a level of service that is somewhat unique to our market,” Annie said. “We help investors evaluate their investment purchase in both rental income opportunities and negotiating a fair purchase price. We are able to help acquire the property, manage tenant relationships, and help the property owner re-sell and re-invest.”

“I have been fortunate enough to meet Annie in person and she is an exceptional addition to the NextHome franchise,” said NextHome CEO, James Dwiggins. “She has a proven track record of running profitable businesses in the real estate space.”

When not selling real estate, Annie enjoys spending time with Robert and their four children and five grandchildren. Avid soccer fans, the Fleetings were the owners of the Premier League soccer team, Kilmarnock FC, from 1989-1996.

Please join us in congratulating Annie, Bobby, and the rest of their team at NextHome Beach Time Realty on their third NextHome office location!

Interested in being a part of the NextHome Real Estate Franchise? Contact VP of Sales Charis Moreno at


Each office is an independently owned and operated business.