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Prices are falling from a year ago in four Texas metros—Austin, San Antonio, Houston and Fort Worth—and in Portland, OR. Redfin predicts price declines will become more widespread in the new year. Homebuying is becoming more affordable as mortgage rates continue declining—the median U.S. housing payment was $2,561 during the four weeks ending December 3, down $177 from the record high they hit in October. This according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s spurring action from sidelined homebuyers and sellers. Mortgage-purchase applications are up 15% from the 28-year low they dropped to at the start of November. New listings are up 7% year over year, the biggest increase since August 2021, and the number of homeowners contacting Redfin for help selling their home is up by double digits from a year ago.
Mortgage rates are coming down because economic events are…
Buying a home is one of the largest investments someone will make in a lifetime. Getting a mortgage is one of the biggest loans in the budget. Take a little time to save yourself a lot of money. Team up with the experts and use their experience to save yourself from a bad experience. Taking a few extra minutes to prepare can give you big bragging rights on your real estate deal for years to come.
Here are some things to do as you set out to buy your home or get your mortgage. Determine your budget. Set a timer for two to three hours, turn on your favorite tunes and start slogging through your last six months bank statements and credit card statements. Keep a tally of how much you are spending on food, rent, utilities, gas, insurance and more. Remember those bills you only pay…
I focus quite a bit of my research on how to help all businesses and organizations accurately anticipate the digital disruptions heading their way. In recent writings, I have also discussed the importance of leaders finding the best ways to retain employees via incentives, involvement in innovation, and recognition of their fullest potential and future at the company. I also connect with the other side of that coin, discussing the best ways in which leaders in a position to help employees recognize their own greatness do so in an Anticipatory fashion. This is accomplished time and again not only by creating a culture of searching for and leveraging Hard Trends with my Hard Trend Methodology, but by fostering that united Futureview® of positive disruption and creative critical thinking.
But what if I were to say that even though these efforts have proven to be successful over the course of my…
Just a couple of weeks left to get deals in and get them closed before the end of the year! Those coming in to start the process may be few, but they are serious! Buyers coming in today will also have a short window of opportunity as other potential buyers choose to sit on the sidelines in December and “wait until after the holidays” before getting back into the search! Those who make this choice could be costing themselves dearly! Here are a few things to think about: With people putting off the search, there is less competition in the market for those available homes. Seller’s that will show their homes in December are likely serious about selling and more likely to negotiate key points of the deal if you can close quickly! With new buyers entering the current market and those who will re-enter the market in January, individual…
The median monthly mortgage payment has declined more than $150 from its peak to its lowest level in three months. Another piece of good news for buyers: New listings are seeing their biggest year-over-year increase since summer 2021. Housing payments have declined for the fifth week in a row, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. The typical U.S. homebuyer’s monthly mortgage payment was $2,575 during the four weeks ending November 26, down $164 from a peak of $2,739 last month but up 13% year over year.
Monthly payments are falling from their peak because mortgage rates are falling from their peak. The weekly average 30-year mortgage rate is 7.29%, down from a high of 7.79% in October, and the daily average is 7.13% as of November 29, its lowest level since the start of September. Rates have declined enough to offset…
In today’s economy, most organizations are locked in fierce competition with others in their industry. They compete for the same customer base, which results in them competing for rather slim profit margins. They battle for mere slivers of market share that could just as easily go to the next company in line in the blink of an eye. But why is this? Why is competition so fierce, and why do profits seem to continuously decline?
Many organizations have had success in the past and have been riding on the back of that cash cow for far too long — so long, in fact, that the competition to copy your product or service and steal your margins may have come and gone already, leaving you in a plateau of stagnant sales and poor morale. In the business world, when you create something successful, others will copy it. This keeps happening,…
a Marika Abuashvili is a highly experienced professional with over 25+ years of expertise in the real estate sector in Seattle, USA. Throughout her career, she has held various roles including managing broker, marketing and sales specialist, agent coach, and technology manager, allowing her to gain comprehensive knowledge of the industry. Marika possesses a diverse skill set, including education and professional development, business model evaluation, brand development, strategic planning, MLS system implementation, business management, client services, exclusive contract foundation, lead generation methods, marketing strategy, small business technology, and cloud transaction management. Currently serving as the Director of Education and Strategic Development at the Georgian National Association of Real Estate, Marika is committed to upholding high standards of practice and equipping real estate professionals with the latest information, innovative tools, and educational resources for continuous career development.
I hope everyone enjoyed their Thanksgiving. Today I wanted to share some thoughts about this time of year and how often overlooked the opportunities are for us in the mortgage and real estate arena. I like to call this window, Thanksgiving through the middle of December few weeks, the single most critical time block we have, because the opportunities are great, the competition is small, and there is a very real “Motivation of the situation!” Here are my reasons: 1. Focus! People believe there isn’t enough time to get things done this time of year and just choose to push it off until next year. 2. Ability! As the clock keeps ticking, lenders lose the ability or the willingness to do what they need to do to get a deal closed before the end of the year. 3. False beliefs! How often have you heard, “nobody wants to buy or…
Zola is a seasoned real estate professional with a passion for helping clients buy, sell, and invest in beautiful Central Florida and beyond. Originally from Hungary, Zola’s journey in real estate began when he purchased his first investment property in Pennsylvania. After moving to Orlando in 2000, he quickly realized that real estate was his true calling. With over 14 years of experience, Zola has built a thriving practice, serving both local and international clients. In 2015, he took on the challenge of helping open and manage a successful real estate office, attracting 150 associates within the first two years. However, Zola found his true calling when he transitioned to his current role as a practitioner, coach, and mentor to his fellow sales associates. Zola is actively involved in teaching various courses for the National Association of Realtors (NAR) and the Real Estate Business Institute (REBI). He is a member…
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Dan A. Negulescu is a distinguished Real Estate Broker with a deep passion for international real estate. As a visionary promoter of the Exclusive Representation (Agency) concept in Europe, Dan has been at the forefront of shaping the European real estate landscape. His dedication to advancing the industry is underscored by his active involvement with the National Association of REALTORS (NAR). Dan has served as a NAR Board Member in 2015 and again in 2019, bringing his expertise and insights to the forefront of industry decision-making.Dan’s impact extends beyond his roles within NAR. Since 2019, he has taken on the role of NAR In-region Ambassador for Central and Eastern Europe, further solidifying his dedication to promoting global real estate collaboration. In 2022, Dan expanded his involvement with NAR, becoming a valued member of the NAR Events and Conference team, where his insights continue to shape the future of real estate…
Giselle Abadi is the co-founder and CTO of Realtyna Inc. She’s a visionary technical leader with an intense passion for the innovation and design of intricate systems. Her unwavering persistence, paired with her motto “Continual Improvement,” has positioned Realtyna distinctively in the proptech market, offering the most comprehensive suite of tools and services for the real estate industry across various platforms and for all levels.
Creativity is a highly applicable character trait of those who find success and significance in the business world. In light of this observation, the question of whether creativity can be taught naturally arises. While it’s true that, with sufficient determination, individuals can learn almost anything, teaching your team to think creatively in any industry is contingent upon the approach. As an Anticipatory Leader, the concept of fostering creativity among your employees should manifest in proactively addressing challenges through innovative solutions. This involves the cultivation of intricate ideas, allowing for the creation of remedies well in advance of issues becoming disruptive.
Creativity in Its Most Basic Form Many organizations are playing the competition game, copying ideas in an attempt to stay one step ahead and gain a small fraction of market share. This is a road riddled with friction and little payoff as each player struggles to move one…
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