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Mr. Powell Please Quit Talking
Fed Chairman Powell spoke again this last week and once again scared the bond markets with his words. Why? He said inflation is set to increase but he believes this increase will be transitory or temporary. Second, if we do see inflation we will be patient before raising short-term rates. I would love to know…
How Americans Are Spending Their Stimulus Money
The US savings rate jumped from 13.4% of disposable income in December to 20.5% in January. This means only 20 cents/dollar the government provided in the $600 stimulus checks was spent. Whoops! So much for growing the economy. This suggests most of the next round of stimulus money will probably also be saved, making one…
Mortgage Rates are Incredibly Volatile
After a HUGE drop in the mortgage bond market last Thursday, on Friday the mortgage bond market experienced one of the craziest trading days I have ever seen as the market opened up 50 basis points first thing in the morning. Then, I received an Alert to Lock at 9 am as pricing has dropped…
The List Price is Not the Home’s Value
For the last 45 days at least, single-family detached homes are selling for obscene amounts above their list price. I have seen winning bids of $50k-$70k over list price and I have heard of winning bids being $150k over list price on a $750k home. And I have heard of a home listed at $1.3…
Can the State Force the Creation of Affordable Housing?
House Bill 1117 would clarify state law that outlaws rent control does not apply to regulating newly constructed or redeveloped housing units. This bill would allow local cities and counties to require that a developer provide affordable housing units whenever they build new housing units much like the City of Denver has. If a city…
Housing 2021 Isn’t The Housing Bubble of 2005
I love reading Logan Mohtasami’s articles in Housing Wire and last week he wrote this article comparing our housing market today versus 2005. Why? First, we have the BEST housing demographics ever recorded in U.S. history from 2020-2024 as Millennials turn over 30 years old and start buying homes. Our country saw some of the…
Why You Should Choose Our Offer
Greg Parham from First Alliance Title provided an amazing class with 15 top tips or strategies to help your buyers get under contract. I am working at scheduling another class with Greg and First Alliance Title soon. By the end of the class one acronym kept coming into my brain-K.I.S.S. for the listing agent and…
The Stock Market’s Bull Run is Not Over
One of my favorite economists to read every week is Brian Wesbury, Chief Economist for First Trust Portfolios and Brian is the most stock market bullish economist I read and he doesn’t believe that the stock market is in a bubble or euphoric. Why? First, the Fed has increased the M2 money supply by 25%…
How Will Working From Home Affect Us?
I read a great article last week from Housing Wire on this topic. Here are some of the ideas from the article- The appeal of working from home or WFH will only increase when kids are back in school buildings as your home office will feel more like an office. Homes in centralized business areas…
Bad News on Inflation and Mortgage Rates
Our country’s money supply as measured by M2 increased by 26% last year, the biggest increase on record. This huge increase normally would cause high inflation rates; but Americans saved $2.9 trillion last year and personal incomes rose 6.3% in 2020. So, consumers have the money to spend when they are ready. Still we are…
Lumber Prices Up Over 250%
Did you know that our country imports 80% of our lumber from Canada? We do and lumber prices last year soared from April 1st when they were $259 per thousand boards and they hit a high last year of $950 per thousand boards. That’s an increase of 267% in 4 months last year. Currently lumber…
Top Strategies for Writing Winning Offers
Our tight housing inventory demands superior contract drafting and negotiation skills. Whether you’re submitting offers for your buyer, or managing multiples for your seller, there are many techniques to improve your bargaining position. Here are a few things we will cover: * Seller Contingency Clauses for Replacement Home * Post-Closing Occupancy Agreements to Help Your…
