Today's Headlines - Realty Times

Awareness about emotional and mental health challenges is crucial for reducing the stigma involved. Many professionals, including realtors, secretly struggle with depression, anxiety and a host of other issues. The stress and pressure in the real estate industry can amplify these problems.

Fluctuations in market conditions, for instance, can contribute to the stress realtors face. Overdoing it in sales or even not having the proper focus to drive sales can result in burnout. Deals that fail or clients who are unsatisfied can impact realtors’ sense of self. Self esteem and resilience are needed in the field to succeed. Setbacks are a big part of real estate. Overcoming them is expected and almost necessary to excel. 

Furthermore, real estate agents often work independently, which can lead to feelings of isolation. Loneliness is a real thing. It can negatively impact day-to-day job demands. To make matters worse, dealing with unhappy or insatiable clients can be taxing. Buying a new property is an incredibly demanding experience and if you can’t deal with your own emotional challenges, how can you possibly handle that of your clients and prospects. It can certainly take a toll.

Finally, realtors are faced with long hours and irregular schedules. This can take a big toll on their physical well-being, which then can impact mental well-being and enthusiasm to persevere. Lack of sleep, inconsistent family time and time to regroup will leave anyone feeling burned out.

SOLUTIONS

Learning to set boundaries is a huge skill worth learning. Real estate advisors can feel better by seeking support from colleagues and mentors and saying no to overdoing tasks. Having a quiet time-out for regular meditation can work wonders too. Knowing what works best for you will be an individual discovery process. We are all different. Pay attention to what you need – is it to socialize more or to get in extra quiet time? We all recharge our batteries differently. Brokers should create a supportive work environment that emphasizes open communication. Those who speak openly about mental health challenges can make a huge positive impact on realtors and their team.

It is crucial for realtors and brokers to prioritize their mental health by practicing physical self care. Going to the gym or doing a physical activity that one enjoys can make a huge difference! Exercise releases feel good hormones (endorphins)! It is the best natural anti-depressant in the world. If the sun is out, taking an hour long walk in the morning is powerful. It also regulates sleep. Grounding is an activity that involves walking on the earth for at least 10-15 minutes each morning. It resets our circadian rhythm. It can be done right now during these warmer months ahead!

Mental health challenges are nothing to be embarrassed about. Additional tips for realtors to support their own well-being include: 1. Establishing boundaries between work and personal life to prevent exhaustion, 2. Managing stress by identifying specific stressors like time management and delegating tasks, 3. Setting attainable goals by breaking things down to smaller, more manageable tasks. Feel good about doing the small things and keep track of your own progress. Finally, if the struggles are just too much, seek professional help. Therapy is nothing to feel bad about. It can support and improve your overall well-being. This is why such professionals exist. Therapists, too, rely on other therapists.

Posted On Tuesday, 21 May 2024 06:13 Written by
Posted On Tuesday, 21 May 2024 00:00 Written by
Posted On Monday, 20 May 2024 14:20 Written by
Posted On Monday, 20 May 2024 10:38
Posted On Monday, 20 May 2024 09:55

For a limited time only, Chase is increasing their Closing Guarantee program from $5K to $20K. Chase promises their clients that they’ll close the loan on or before the contract closing date or pay the buyer $20,000. 

The grant can be used to discount underwriting fees paid at mortgage closing or pay down interest rate and down payment. This special time offer is available until July 27, 2024. 

Chase wanted to honor spring homebuying season in an extra special way this year, knowing how challenging the housing market has been. They also have a whole en-suite of offerings and tools to help prospective homeowners. 

The housing affordability crisis—with high interest rates, high homes prices, and low supply—has been widely reported. To help homebuyers address these challenges, Chase Home Lending is focused on providing financial resources and homebuyer education, including increasing its Closing Guarantee from $5,000 to $20,000.  

“Current market dynamics have impacted the affordability of homeownership for many Americans, and at the same time, competition has only increased,” said Sean Grzebin, head of Consumer Originations for Chase Home Lending. “We’re focused on the things we can control in this environment and that’s supporting our customers all the way home. Increasing our Closing Guarantee to $20,000 is a reflection of our confidence in getting customers into their new home without delay.”  

Affordability and Access to Credit  

Chase offers low down payment options—as low as 3%—and flexible credit guidelines to create more homeownership opportunities for more people across the income spectrum. Another way Chase is helping customers manage affordability is with the Chase Homebuyer Grant. This grant offers up to $7,500 in eligible areas, which can be combined with state and local homebuyer assistance, to lower the interest rate and/or reduce closing costs and down payment.  

  

Since 2020, Chase has provided more than $96 million in Chase Homebuyer Grant funds for more than 29,000 customers. In 2023, Chase also connected homebuyers with approximately $15.8 million in state and local homebuyer and down payment assistance programs. Buyers can use Chase’s Homebuyer Assistance Finder to research assistance programs for which they may be eligible. 

  

Chase launched its grant program nationally in 2018 with a $2,500 grant for people buying in low-to-moderate income census tracts. Then in in 2021, the bank launched a $5,000 homebuyer grant in census tracts designated as majority-Black, Hispanic or Latino under its Special Purpose Credit Program (SPCP), in accordance with the federal requirements of the Equal Credit Opportunity Act (ECOA) and Regulation B. Recently, the bank increased this grant from $5,000 to $7,500 in 15 markets across the U.S.: 

  

  • Atlanta, GA
  • Chicago, IL
  • Dallas, TX
  • Fort Lauderdale, FL
  • Fort Worth, TX
  • Houston, TX
  • Las Vegas, NV
  • Los Angeles, CA
  • Miami, FL
  • New York, NY
  • Orlando, FL
  • Phoenix, AZ
  • Riverside, CA
  • San Diego, CA
  • Washington, DC

  

Homebuyer Education 

The homebuying process can be overwhelming, whether you’re a first-time or experienced homebuyer. Chase is helping to educate prospective buyers on the ins and outs of the home purchase process, homeownership and everything in between. The JPMorgan Chase Institute recently released research calling out the importance for consumers to be educated when it comes to their mortgage and lender options. The Institute’s report, Hidden Costs of Homeownership: Race, Income, and Lender Differences in Loan Closing Costs, reveals that closing costs vary significantly by type of lender, with banks being less expensive on average than nonbanks and brokers.  

“Homebuyers don’t always realize what’s negotiable and what may differ from lender to lender,” said Grzebin. “Being informed can help save you money in the long run. I’d advise customers to make lenders compete for your business—take the time to consult with more than one lender and always check with your bank.” 

Additional resources include Chase’s Homebuyer Education Center—a comprehensive learning center for those looking to buy a home and get a mortgage. Chase’s award-winning podcast, Beginner To Buyer comes complete with two seasons of episodes featuring conversations with real buyers and expert guests discussing homebuying and ownership, home equity, common misconceptions, renovations, and investment properties. 

Convenience and Speed to Close 

A quick closing process can be key, especially in competitive situations. The Chase Closing Guarantee commits to an on-time closing in as soon as three weeks or eligible customers get $20,000. This limited time offer is available for qualifying customers purchasing a home with a Chase mortgage until July 27, 2024. Customers must submit necessary financial documentation and provide a fully-executed purchase contract. Then, Chase will close the loan on or before the contract closing date or pay the buyer $20,000. Funds can be used to discount underwriting fees paid at mortgage closing or pay down the interest rate and down payment. 

Chase continues to offer a full suite of digital tools to support buyers on the path to homeownership, including Chase MyHome. This digital platform provides “all things home, all in one place” with an advanced property search and the ability to review loan options, apply for and manage your mortgage. Additionally, Chase offers various digital mortgage calculators that help buyers understand how much they can afford. 

For more information about Chase Home Lending, visit Chase.com/afford

Posted On Sunday, 19 May 2024 04:25 Written by
Page 11 of 1822

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.