There are plenty of people around who have a lot to say about why things in the mortgage and real estate markets are a challenge. Many seem to spend more time looking to complain about why they aren’t doing better or how “hard” the job has become, then to spend time looking to see how much opportunity there is. Yes, it is likely that for originators who depend on 50 – 60 – 70% or more of their business last year, that 2021 is looking a bit scary as we roll into the second quarter. However, purchase business remains very strong, so strong in fact that people are complaining about how many people want to buy homes! The issue now is how to we continue to thrive as refinances shrink? First of all, refinances aren’t completely going away, they just aren’t as easy to sell since rates have come up…
Posted On Monday, 26 April 2021 00:00 Written by
There are plenty of people around who have a lot to say about why things in the mortgage and real estate markets are a challenge. Many seem to spend more time looking to complain about why they aren’t doing better or how “hard” the job has become, then to spend time looking to see how much opportunity there is. Yes, it is likely that for originators who depend on 50 – 60 – 70% or more of their business last year, that 2021 is looking a bit scary as we roll into the second quarter. However, purchase business remains very strong, so strong in fact that people are complaining about how many people want to buy homes! The issue now is how to we continue to thrive as refinances shrink? First of all, refinances aren’t completely going away, they just aren’t as easy to sell since rates have come up…
Posted On Monday, 26 April 2021 00:00 Written by
Some of the most common conversations I have been having with mortgage customers are those concerned with how much value they will get from the home appraisal. These calls come from customers who want to get a cash-out to refinance and remodel the home where they live.  We get calls from customers competing with multiple other offers to buy a home.  They want to know, “How much higher than the asking price should I offer for this home? Do you think it will appraise for that much?” Prices of homes are continuing to rise. The median home price of $329,100 is up this week 17%  year-over-year.  Mortgage rates are lower than they have been in seven weeks. Prices on homes are being pushed up by high demand from aspiring home buyers competing to buy and lock low fixed rates.    The forecast is for home prices to rise and for mortgage…
Posted On Monday, 26 April 2021 00:00 Written by
Arguing with an idiot is a lot like wrestling a pig, you both get dirty, but the pig likes it! In weeks and months past I have shared a number of commentaries on the misinformation and many of the false narratives put out into the market to downplay the housing market, this week will be no different. Please go back and look at all the rebuttal information I have shared with the whole “inventory” problem people are complaining about. Yes, unit numbers are low and remain low during a time of record breaking sales! Markets shift from buyers markets to neutral markets to seller markets. We are currently in a seller market. Last week I spoke directly to the “Forbearance Panic,” people are worried that will destroy the housing market! I shared how completely baseless the argument is and how all of the homes currently in forbearance would not and…
Posted On Monday, 19 April 2021 00:00 Written by
“Being challenged in life is inevitable; being defeated is optional.” Roger Crawford Values are high, and rates are lower than they have been in a few weeks. Pressure builds to  buy your first home or sell the one you have  in order to buy your next one.  Finding and financing your next home seems to run smoothly until you run up on some challenges.   How do you conquer challenges and move to your celebration day? Here are the four common barriers homebuyers face when buying their home. Lack of funds to close. When the bank account is short on funds, it is time to pull out the treasure map.  Can you borrow against your 401k retirement fund?  Do you have a cash value on a life insurance policy?  Gifts from family members are helpful. Look into local down payment assistance programs. Ask about getting a loan secured on a…
Posted On Monday, 19 April 2021 00:00 Written by
Has this ever described your day? You wake up in the morning rested and excited about your day. After doing yoga/gratitude journal/a walk (or whatever self-care you enjoy most), and eating a healthy breakfast, you head to your desk, ready to tackle the day.  You quickly deal with new emails and issues that need resolved, then focus on your prospecting calls.  Next, it’s time for your first appointment, and you arrive 15 minutes early.  After that, you pick up a salad and head to the park to enjoy your lunchbreak on a beautiful day. Feeling energized, you handle your afternoon appointments and a scheduled closing.  After handing over the keys to your excited new home buyers, you arrive home feeling happy that you were able to help someone’s dream come true. After a relaxing evening as you get ready for bed, you are filled with gratitude that you work in…
Posted On Tuesday, 13 April 2021 00:00 Written by
Sometimes people allow fear to prevent reality in their lives. Sometimes people allow fear to paralyze them into inaction. I have always found it that if you look into the actual fear and find out why you are afraid, you sometimes see there is nothing to be afraid of. We have seen a number of people creating a new dialog of fear around the potential of 2.7 million homes entering foreclosure due to the expiration of forbearance. The fear has even grabbed the government because they have chosen to kick the reality of expiring forbearance down the road another six months because they don’t have a simple answer to the question, “what happens”. Well, let’s do some math. NAR says we would have an even more robust purchase market if we had more homes in inventory. They say they would like about 5 or 6 months of homes to create…
Posted On Monday, 12 April 2021 00:00 Written by
“Life holds a special magic for those who dare to dream.” Anonymous This week homeowners and homebuyers saw home values continue to rise, and the mortgage rates dipped down for the first time since January. The seemingly unattainable dream of renovating your home to be your castle or restructuring your debt so you can retire suddenly became possible like the wave of a magical wand.  Mortgage rates dipped about 5% this week for the first time since January 2021.  Home values increased 15.6% year-over-year.  The mortgage that the aspiring homebuyer could not afford last week suddenly became affordable this week The Collinger’s dream of getting their children through college, and retiring within the next ten years seemed impossible.  This week, their home hit the highest value they had ever seen. At the same time, mortgage rates dipped back down from their recent climb.   Restructuring the other debt with a…
Posted On Monday, 12 April 2021 00:00 Written by
“I watch other teams and ask myself, ‘What makes them win? Luck? Scheme? I’m constantly thinking of how to be better.” NIT Champion University of Memphis basketball coach Penny Hardaway The spring market in 2021 is running hot right out of the gate.  Inventory of homes available are fewer and mortgage rates are still a little lower than the beginning of April last year. It's a terrific market for home sellers because of the ease of selling higher. It is an excellent win for homebuyers because they can lock into a fixed-rate mortgage rate that keeps their payment affordable.  If you are a homebuyer in this market, get teamed up with a very reputable realtor and mortgage lender.   With some persistent grind and savvy strategy from you and your realtor-lender team, you can win in this market.  University of Memphis Tigers basketball coach Penny Hardaway said in an interview…
Posted On Monday, 05 April 2021 00:00 Written by
Page 7 of 17

Agent Resource

How to capture your next prospect - click here

Realty Times

From buying and selling advice for consumers to money-making tips for Agents, our content, updated daily, has made Realty Times® a must-read, and see, for anyone involved in Real Estate.