The significance of asking the right questions cannot be undervalued. But how do you ask these three big questions if you don’t know what they are? Well, let me help you with those:
This will change the conversation completely! You find out a wealth of information that will help you determine if this person is the type of person you want to work with! Now, they may not have a preference or even a plan, but they MUST be willing to do the work if you are going to make the commitment to work with them! See how I changed the dynamic from asking for referrals to them working with you to generate their next opportunity?
There are multiple strategies on the website to help you share with them how and what to do to make their choice become reality. All proven strategies that will work if you do the work! Sometimes having a new strategy and an accountability partner to work with can make all the difference! Helping generate opportunities is great for building lasting relationships! Try it for yourself and see!
Today we have unemployment numbers and tomorrow is the jobs report. It will be very interesting to see how far apart the ADP numbers and the jobs report are. For a while it seemed that ADP was tracking below the jobs numbers and now it looks like they are tracking far above them. The data could make for a bumpy few days in the bond markets, so just be aware that the markets may react and quite possibly over react!
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The median U.S. home-sale price is up 3.2% year over year, the biggest increase since November, and mortgage rates remain elevated
The typical U.S. homebuyer’s monthly mortgage payment was $2,605 during the four weeks ending July 30, up 19% from a year earlier and down just $32 from early July’s all-time high. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.
Housing payments remain historically high because mortgage rates remain elevated, with weekly average rates clocking in at 6.9% this week, and home prices are on the rise. The median home-sale price is up 3.2% year over year, the biggest increase since November.
Home prices are increasing because of the mismatch between supply and demand. High mortgage rates have pushed many would-be sellers out of the market, with homeowners hanging onto their relatively low rates. The total number of homes for sale is down 19%, the biggest drop in a year and a half, and new listings are down 21%.
High rates are also sidelining prospective buyers, but not as much as they’re deterring would-be sellers. Redfin’s Homebuyer Demand Index, which measures early-stage demand through requests for tours and other buying services from Redfin agents, is down just 4% from a year ago.
Leading indicators of homebuying activity:
Key housing market takeaways for 400+ U.S. metro areas:
Unless otherwise noted, this data covers the four-week period ending July 30. Redfin’s weekly housing market data goes back through 2015. For bullets that include metro-level breakdowns, Redfin analyzed the 50 most populous U.S. metros. Select metros may be excluded from time to time to ensure data accuracy.
To view the full report, including charts, please visit: https://www.redfin.com/news/housing-market-update-monthly-mortgage-payments-near-record-high
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