The second 90-day cycle is a little less defined because the actual beginning and end of this cycle revolves around the end of one school year and the beginning of the next. For some, the new school year has already begun, but for others, it may still be a few weeks away. If you have planned out your calendar, you are already very clear on how much time you must transition from one to the other. The key to all of this and setting up the third and last cycle is finishing the second 90-day cycle strong, so you can maximize your opportunities and generate serious momentum heading into the end of the year. Setting your schedule and plugging in specific days and times to do the work is a critical component. People that fail to schedule often fall victim to procrastination and missed opportunities that they never really notice until the end of the year numbers come out, and by then it’s far too late to recover. So, identify your tasks and get them firmly in your schedule!

Collecting and organizing your list of accountants is likely your untapped goldmine! Being prepared to discuss current opportunities in the mortgage area for both purchases and refinances with these accountants can pave the way to a steady stream of loan opportunities and building new and powerful relationships. We all know that September is the time that accountants are reaching out to their clients that filed tax extensions and to get that process of gathering their information to get those taxes complete by the October deadline. Remember, the power of filing in October and then again next February gives that client two years of documented income in less than six months! This could really be a strong strategy for those self-employed borrowers who may need to move or refinance in early 2025!

The BLS jobs report finally started to show the world that things are not as wonderful as they have been presenting. We have talked here at length about all the “adjustments” that come out months and years after that they tell the true story that goes unrecognized because the markets have already responded. Well, the BLS can’t hide any longer and the markets are reacting accordingly. While the initial violent reaction was positive, the bond market has given up some of those gains. As I have said before, I believe rates will go lower SLOWER than some think, and even as the FED begins to take short term rates lower, the mortgage market will remain volatile as it moves slowly toward lower mortgage rates. Questions or comments: This email address is being protected from spambots. You need JavaScript enabled to view it.

Daniel my Brother is a book penned by his brother to uncover the mystery behind his murder and how it brings random people together in the most intriguing ways. 

The Story

Access to healthcare services, restaurants, bars and coffee shops top the list of trade-offs house hunters are willing to make in order to find a home within their budget

Nearly one in every five (17.3%) house hunters are willing to sacrifice their physical safety to find a home they can afford within the next year, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.

Nearly one in four (23.7%) Gen Z respondents said they are willing to live somewhere less safe for the right price, compared to 18.1% of millennials and 17.5% of Gen Xers. Only 5.5% of Baby Boomers said they would trade their safety. This is according to a Redfin-commissioned survey of roughly 3,000 U.S. homeowners and renters conducted by Qualtrics in February 2024.

Survey respondents indicated they are more willing to sacrifice less-vital housing needs, like the number of bedrooms, but a significant number—especially from younger generations—said they would be willing to exchange their safety for affordability.

“Younger generations have come of age during a housing supply crunch, where prices are at all-time highs. Couple that with them earning less—relative to older generations—and you can see why they are willing to make more serious sacrifices to find a home they can afford,” said Redfin Senior Economist Elijah de la Campa. “When the typical household earns less than is needed to buy or rent a typical home, house hunters can’t afford not to make sacrifices.”

Safety is a common reason why people are moving in the first place

While safety may be seen as a trade-off by some house hunters, roughly the same number of respondents (16.4%) said their concern for safety/crime was at least one of the factors driving their decision to move.

More than one in five Gen Xers (20.8%) said safety/crime was a contributing factor for their move, compared to 17.6% of boomers, 15.3% of millennials and 12.8% of Gen Zers.

Overall, safety concerns were the fourth-most cited reason for wanting to move, behind wanting more space, a lower cost of living and lower home prices—and on the same level as wanting to live near family.

More than 1 in 4 house hunters willing to trade off access to quality schools

Of the housing features presented in the survey, house hunters were most willing to trade off access to their doctor/healthcare amenities (41%), and restaurants, bars and coffee shops (36%) in their bid to secure an affordable home.

More than one in four respondents (26%) said they were willing to trade access to highly-rated schools for a home within their budget. One in three (33%) said they were willing to trade off living in an area where people looked like them, or where the local politics/government reflected their beliefs.

Inside a home, respondents prioritized the number of bedrooms (28% willing to trade off for an affordable home) over square footage (31%) and the number of bathrooms (36%).

House hunters seeking affordability are also willing to make work-related sacrifices. Around 34% said a longer commuting time was something they would consider trading for the right price, while 27% said they would be willing to entertain not having space to work from home.

More than one in four (28%) said they would be willing to live in an area with a higher risk of natural or climate disasters such as fire, flood or poor air quality, if it meant being able to afford a home.

To view the full report, including charts and additional methodology, please visit: https://www.redfin.com/news/homebuying-tradeoffs-safety-survey-2024.