The issue is REAL! The reality is becoming more and more apparent. Debt is a national problem, and it’s going to get far worse before it gets better! The main culprit is the federal government. NOBODY has more debt on the planet than the United States of America. That debt continues to pressure the markets as the ability to borrow larger and larger sums of money gets more and more expensive. Nobody wants to acknowledge it, but it does impact our everyday lives more than you think it does. The other issue we have is that consumers are piling up debt faster than ever! We are not only setting records for outstanding debt; but consumers are relying on more and more debt to simply cover what they feel are their basic costs of living. Especially young people, who seem to think $1,000+ cell phones and $500+ car payments, and $150…
Posted On Monday, 13 May 2024 00:00 Written by
Selling homes isn’t just about the property itself—it's also how you present it. Imagine equipping your arsenal with sales collateral that not only illuminates key features but clinches deals faster. What kind of materials are we talking about? We're talking about those dynamic, well-crafted sales collateral that engages potential buyers and sets the stage for a swift close. These aren't your standard brochures; think curated content that resonates with today’s market expectations.  Let’s unveil the various types of sales collateral that could transform your real estate hustle into a powerhouse of efficiency and allure.  1.  Virtual Tours  Imagine a tool that whisks buyers through homes without stepping foot inside. Virtual tours are precisely that—a digital passkey into your listings. They allow clients to explore every nook and corner at their own pace, evoking a sense of ownership before the actual viewings.  But it's more than just convenience; these tours can…
Posted On Saturday, 11 May 2024 07:43
High home prices and rates sent home sellers and buyers to the sidelines in April and the start of May—but last week’s encouraging economic news drove mortgage rates down a bit The median U.S. monthly housing payment hit an all-time high of $2,894 during the four weeks ending May 5, up 14% from a year earlier, and home prices rose 4.5% to their own record high. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. The supply of homes for sale lost momentum, with prospective sellers jittery about high rates. New listings rose 9% year over year, the smallest increase in three months (with the exception of the four weeks ending March 31, when there was an artificially small decline due to Easter). There were fewer new listings during the four-week period ending May 5 than any comparable period on record except 2020 and 2023.…
Posted On Thursday, 09 May 2024 13:32 Written by
I have been learning lately that the knowledge mass of the human race is doubling approximately every three years. Estimates are that by 2030, the knowledge mass will be doubling every 35 days!  An elderly fellow in a recent audience said “Man, I’m sure glad I’ll be dead then!” It is indeed a formidable consideration for the future.   Today we have so many disrupters, changes, technological advances, and daily brain inputs that it's become a challenge to process it all. What have you been studying and learning lately? Have you given in-depth thought to what you need to be learning? Here is a 6-step process that will serve useful in helping you target your learning goals and objectives for maximum progress… 1. First, do a “Current Assessment” of strengths, weaknesses, opportunities, and threats that exist in your chosen career path. Dr. Peter Drucker used to say “To make measurable progress you…
Posted On Thursday, 09 May 2024 00:00 Written by
When someone asks you what you do, is your answer “I sell real estate”? What does that really tell anyone?  If you really want to differentiate yourself from your competitors, you need to answer that question in a way that shows your expertise on a hyperlocal level with statistics, trends and data in the area.  Of course a licensed agent can sell anywhere in an entire state, but if you want to put yourself in the same league as top producers, then think hyperlocal, not “everywhere”. In his best-selling book, “Category of One”, author Joe Calloway shares how being an “inch wide and a zillion feet deep” as an industry expert pays off every time. You may “know” the general market, but even the best statistics and data may be limiting the vision your clients are craving.   To really own your market, you must elevate your expertise from “general” knowledge…
Posted On Wednesday, 08 May 2024 00:00 Written by
Roughly 1 in 5 new mortgages went to low-income homebuyers in 2023, down from 23% in 2020. Meanwhile, high-income buyers have gained share because they’re more prepared to weather the storm of high home prices and mortgage rates Roughly one in five (20.6%) new mortgages issued last year went to low-income Americans, bringing that group’s piece of the homebuying pie back down to where it was in 2018. That is according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Low-income earners gained ground at the start of the pandemic, taking out 23.2% of all new mortgages in 2020, but that progress has since been erased because high home prices and elevated mortgage rates have eroded affordability. The small bit of progress that Americans earning very low incomes made on taking out mortgages at the start of the pandemic has also been erased. Just under 6% of…
Posted On Monday, 06 May 2024 16:38 Written by
The FED didn’t cut rates and some seemed surprised. Inflation is still an issue, and some seem surprised. Stagflation is now a strong possibility, but some seem surprised. The Treasury department is struggling how to continue to borrow money to feed the debt, but some seem surprised. Housing prices and rents continue to rise, but some seem surprised. Credit card debt keeps setting new records, and yet some seem surprised. Job creation keeps growing, but we have fewer full-time workers than we had prior to covid and some seem surprised. There has yet to be any ruling from the judge dealing with the NAR settlement, and yet some seem surprised. It is very important that each of us stay connected to information we can trust so we don’t get surprised! More information that can move the market happens this morning with initial and continuing jobless claims, and Friday morning we…
Posted On Monday, 06 May 2024 00:00 Written by
People of color are taking out a rising share of mortgages because an increasing share of them are of prime homebuying age, and because America is becoming more diverse. They’ve also seen larger income gains than white people in recent years. The share of U.S. mortgages taken out by white homebuyers has declined over the last five years, while the share taken out by Hispanic, Black and Asian homebuyers has ticked up. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. The report is based on a Redfin analysis of 2018-2023 Home Mortgage Disclosure Act (HMDA) data covering mortgage originations for primary homes. This analysis does not cover originations for investment properties or second homes. Just under two-thirds (62.2%) of new mortgages issued in 2023 went to white homebuyers. While that’s a far higher share than any other group, it’s down from 64% in 2022…
Posted On Saturday, 04 May 2024 08:13 Written by
LendingTree surveyed 2,000 people and found that common causes of friction between landlords and renters include maintenance issues, poor communication and a lack of professionalism. We also found that a third of renters say they’ve been discriminated against based on factors like race and age. Here's a closer look at our findings.  58% of renters say they’ve had at least one landlord they didn’t like, with 1 in 4 (25%) disliking their current one. Among those who disliked a landlord, the bad blood was mainly due to maintenance (68%) and communication issues (53%) or a lack of respect or professionalism (42%). 31% of renters say a landlord has entered their home without permission, while 21% have had a legal dispute with theirs. Almost half (48%) would rather rent from an individual than a corporation, with 49% of renters believing it’s cheaper. Additionally, 57% of renters think the government should limit how many homes…
Posted On Sunday, 05 May 2024 08:33 Written by
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