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“Wealth is the ability to fully experience life.” –Henry David Thoreau As we celebrate Independence Day in the United States, the summer real estate and mortgage markets offer us opportunities to celebrate our own financial freedom and independence. Home sellers see their home values hit higher than they could have ever imagined. Homebuyers are buying their homes with the lowest mortgage rates we have seen in years. Homeowners have a unique opportunity to restructure their mortgage terms to remodel their homes and lower overall debt costs. Looking into the future for the real estate and mortgage markets, Lawrence Yun, chief economist for the National Association of Realtors, predicts that we will see more houses available for sale in the second half of 2021 due to the government forbearance program ending and homebuilders building more homes. Lawrence Yun continues his predictions saying, “Home price growth will steadily moderate with the increased supply…
Tammie is a native Texan and has been a resident of Frisco, Tx for over 20 years. Currently, she is the Broker/Owner of two real estate companies and the team leader of Hip Realty Group. Tammie has earned her CRS, GRI and SRS. She is a wife, mother of four children, dog owner, multi-million dollar producer, team leader, entrepreneur, community volunteer and seven year awardee of the Five Star Professional Award. Words clients have used to describe Tammie are tenacious, engaging, the slayer, hip, dedicated, bold, loyal, protective, knowledgeable, MommaSlay, candid and trustworthy.
June is coming to an end and with it the first half of 2021. Now is the time to spend an hour or so to review your year-to-date numbers against your business plan and see where the data takes us. Things to look for: • Purchase/refinance numbers• Referral partner closed referrals• Sources of opportunities• Marketing/prospecting response• Reality (including those currently in your pipeline and preapproved) compared to projections Once we have this data, we can also see who was involved in our purchase transactions on the listing side of our deals and see who we enjoyed working with and check their numbers to see if it is worth investing time and energy to make an approach? Remember, we aren't looking to grow numbers, we are looking to grow quality! We also must check our systems to be sure everything is working as intended and make changes as needed. No system…
“I can’t change the direction of the wind, but I can adjust my sails to always reach my destination.” Jimmy Dean Listening to the financial news during the day sometimes reminds me of being out in a sailboat when storms are approaching. You have to pay attention, with one hand on the tiller and the other ready to adjust the sail to ensure you don’t end up being blown into the drink. The Federal Reserve has been buying billions of dollars in mortgage-backed securities. This committed action by the Fed has been artificially keeping mortgage rates low. The Fed has hinted that they may taper off on this activity sooner rather than later, which would pressure mortgage rates higher. No one knows when the winds will turn, though. Currently, rates are still hanging around the 2’s and 3’s, generally speaking. No matter which way the wind is blowing,…
We have talked about inflation and the fact you can’t fight the FED. More and more information show prices climbing, and the FED keeps buying and buying keeping rates low. They called it “transitory.” It was a supply chain issue and once everyone goes back to work, prices will return to “normal”. But today the FED had to acknowledge that indeed, inflation is real, and much hotter than they would like despite all their efforts. So, as it would be today, they admitted inflation is real but still clung to the “transitory” argument, at least for now. Prior to the FED announcement, the 30yr MBS 2.5% coupon stood at 103.38 and up .02 on the day. Right after the word came out, that coupon was down 44bps at 102.92; and we closed down 59bps at 102.77. The 10yr was also on the move; before the announcement it was down .01…
John Giaimo is CEO of Bring it Home Communities, Inc, Rewards Call Center, LLC and the real estate news organization Realty Times, Inc. In the early 1990s, as founder and CEO of publicly traded HomeSeekers.com Inc., John was the first to place an entire multiple listing service home listing database on the web as he pioneered and implemented the infrastructure still used in today's online real estate marketplace. This included MLS, broker, and agent website development. John pioneered the technology platform and interface to display listing walk- throughs of real property through the use of video. He produced the weekend cable and satellite TV shows The Real Estate Home Show, Search Homes on TV and Realty Times TV. Drawing on his 30 years of real estate and technology expertise, John’s unique understanding of how technology can meet the needs of consumers continues to drive change in the Real Estate Market;…
I spoke last week about important economic information that was coming out in the last six days. Jobs report last Friday, and the inflation data today for May. Neither report was very encouraging, but the markets are taking the information in stride and buying into the theory of “Don’t fight the FED!” The Federal Reserve has dismissed higher inflation as “transitory” and that prices will fall as the economy recovers and people go back to work. Their statements indicate that everything is related to the supply chain being restricted and that once all the workers go back to work, supply will return and that prices will fall. I’m not so sure everyone believes that, but we all know you can’t fight the FED! Today the key number was that year over year inflation was 5%. That is the highest year over year number since January 1992. Certainly, well over the…
We need to take a minute and talk about the news we hear and the reaction there might be from it. We also must be very careful to look at the facts and the analysis by a variety of sources to be sure we have a clear view of what things actually mean and how they might impact the markets we serve. I say this because we all know there is a significant media bias against the housing market. No matter what happens, there is always some outlets who are going to frame everything in the most negative light, even when an obvious upside is staring them in the face. The best example continues to be the complaint about inventory of homes for sale. YES, the number of homes on the market is falling, but that hasn’t stopped record numbers of home sales in 2018, 2019, & 2020. How can…
Memorial Day weekend has always held special meaning to me. As a young boy it was about parades, ballgames, and barbeques. Times when friends and families would gather and share stories. Mine was a generation of boomers, born in the 50’s, fresh out of the Korean War, WWII, and with plenty of those still around from WWI. As I grew up, the country faced Vietnam and as an adult, a number of conflicts around the globe in which brave men and women risked their all for their country. For this, we must take the time to remember those who gave their all. I think it only fair to share that my belief is many will enjoy parades, games, barbeques, and family gatherings, but so many of the stories are either gone or will not be shared; some stories will not be heard. It is important to acknowledge the events of…
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“One of these days, you are going to wish you paid more attention to me. Sincerely, Terms & Conditions” someecards Real estate sales are still running hot in May of 2021, pushing the national median home price to $372,400, up over 16% from $310,100 a year ago. Low inventory of homes for sale continues to cause buyers to compete with other buyers for the same house. Buyers have to think fast and make their highest and best offer. The saying goes, “if you have to sleep on it, someone else will be sleeping in it.” On one end of the see-saw, you see rising home prices. On the other end of the see-saw are low mortgage rates and high wages attempting to keep everything balanced. New homes hitting the market help maintain a balance between homes for sale vs. high demand from homebuyers. Watch out for rising mortgage rates, though. …
Almost every buyer in today’s market has faced the challenge of the seller’s market. Homes selling the moment (or even before) they are listed, homes with multiple offers, and of course, the dreaded multiple offers, sold over asking with appraisal and inspection waivers! Just to name a few! Never before has it been so important to set the proper expectations with your buyers and arm them, and their buyer’s agents” with all the strategies at their disposal to make the odds move in their favor. This also includes defining for each buyer all the things they can be doing every day to improve as buyers. We have talked a great deal about this before, but we are seeing solid results from people who are on the ground and getting deals done because they used one or more of these strategies: • The quality of the offer is stronger because of…
Todd is the owner and broker of Nevada Realty Solutions, with his partner Oana Sterlacci. In 2009 Todd and Oana sold over 1,100 houses and were the #1 team in the nation as reported by the Wall Street Journal. Todd lists properties for banks, and regular sellers, including short sales. Todd also works with investor buyers and regular home buyer with his team of highly talented agents.
While some are struggling to get deals to go together, those focusing on what it takes to win the deal keep on winning. As I spoke to the issues in the past about “winning vs. whining”, you can make a choice every day about your approach to the market in which you work. You can whine about the issues and the challenges, or you can identify the solutions and the strategies necessary to help your clients win! Record numbers of homes being sold tell us that there is an opportunity. Greater numbers of buyers wanting these homes creates the challenge of how to navigate the market to put your client in the best position to win. However, the plan is not a one and done solution or strategy that will make it all come together for you, it takes a series of strategies to optimize results and secure the win.…
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