Today's Headlines - Realty Times
Posted On Thursday, 12 August 2021 20:18
Posted On Friday, 13 August 2021 00:00 Written by


IMG 4438Kathleen Lappe, “Katie”, entered the real estate industry as an entrepreneur eager to solve a problem. She quickly identified an opening in the publishing industry, Katie created and founded a magazine dedicated to real estate. Her idea bloomed into the largest publishing house for Kentucky and Northern Tennessee real estate and auctions. Home Market Magazine was successfully acquired in 2018. 

As digital search revolutionized the housing industry Katie realized the same could be done in the auction arena, and AuctionLook took form. AuctionLook is a nationwide auction aggregator and data portal for auctioneers, many of whom are REALTORSⓇ. More than half of AuctionLook’s inventory are real estate opportunities. AuctionLook has over 4B dollars in real estate published and more than 6,000 REALTORSⓇ/Auctioneers have engaged on the platform. AuctionLook manages 25 state auction associations, with more slated for 2020 launch.  As her knowledge and strategic real estate insight grew she founded Apro.bid, a personal property and real estate bidding platform. Apro.bid has exceeded revenue projections 100x within the first year. 

As Katie’s entrepreneurial accomplishments thrived, her game changing moment took place in 2019 with the founding of DirectOffer, Inc. Katie recognized that consumer home shopping behavior has changed! Home search amid COVID-19 demands a transparent and immersive experience with as much, or as little, in-person interaction as desired. With DirectOffer’s progressive search features, nimble infrastructure and AI enhancements Katie’s latest real estate venture is meeting the moment. 

 

Posted On Thursday, 12 August 2021 00:00 Written by
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Posted On Monday, 09 August 2021 00:00 Written by

“The higher the climb, the better the view.”  Bacotkeren.blogspot.com 

Dayo Dekker began buying rental homes close to streets where houses were being revitalized and renovated.  He did not buy on the same street where revitalization was actively taking place, but he bought ahead of the path where the revitalization was headed so he could still buy at a low enough price to get a good profit from his tenants, and yet he could see his values pop up quickly as more and more other investors started buying around him and fixing up houses.  Dayo positioned himself with a rooftop view of his local real estate market and bought ahead of the curve for a quicker return on income and value. 

Rent vs. Buy Decision

If you are a renter in Memphis, TN, rents have gone up 13.5% year over year. That means if you were paying $1,000/month in 2020, you are now paying $1,135/month to live in a place that belongs to someone else. If rents continue to trend upward at this pace, you will be paying almost $1,300 per month for the same space next year.  If inflation continues to increase, food and gas, and other goods will be costing you more too. The advantage to buying your own home is so you can lock in a low fixed-rate mortgage. Your principal and interest portion of your mortgage payment will never increase. 

Buying more investment real estate

Where are the neighborhoods that are starting to be revitalized?  Where can you buy in established areas that have continued to go up in value with rents that have been steadily moving upward? When you lock in a fixed mortgage rate with a principal and interest payment that never increases, you give yourself a raise in pay every year when you raise the rents. 

Refinance to Restructure For A Better Life

More homeowners are refinancing to lower their interest costs, get rid of their mortgage sooner, or combine other debt into one low fixed rate.  Others are using a cash-out refinance to remodel their homes.

Telling Trends: 

1. Home values will hit new highs and continue going up in 2021 and 2022 but at a slower pace.
2. Rents will continue to increase. However, builders completing newly built homes will ease housing inventory woes as labor comes back and lumber prices come down.
3. Millennials and Gen Z will continue to be the biggest number of homebuyers.  People working from home will head for the suburbs.
4. Rents will continue to increase year over year. 

 

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Posted On Monday, 09 August 2021 00:00 Written by

First week of August and we get the July jobs report on Friday. Not likely to be a great number, but the FED has dismissed all the jobs misses so it shouldn’t be a surprise, unless the FED sees something new. I do think the inflation report next week is also likely to be a terrible number, but once again, the FED will just dismiss it with its new favorite word, “transitory” and keep right on ignoring the inflation we all see.

Housing is another issue, prices continue to rise across the country and in many areas, it’s more than double digit increases year over year. While activity has slowed down a little in some areas, volume of both home sales and demand remains strong. Fueling much of that is the insane rise in rents. Last month we saw a 2% increase in rents, leading to more than a 10% increase year over year. With some markets seeing rental availability challenges at, or worse than listing inventory!

Yes, mortgage applications were down last week for both purchases and refinances, but levels are still strong, and opportunities are plentiful if you know where to look. While some companies are panicking to low origination volume, many I work with are well ahead of last year’s numbers and still managing 70% purchase to refinance balance for the year!

With many across the country beginning the trek back to school, we may see a brief lag in activity but be prepared for a spike in the action within two to three weeks of the kids going back to school and functional obsolescence of current homes forces a change! Staying committed to your plan and the focus of relational business practices will continue to help you out pace your competition!

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Posted On Monday, 09 August 2021 00:00 Written by
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