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This One Thing Will Determine Your Success
I believe one thing will determine my success and your success for the remainder of this year and next year. That one thing is your MINDSET. First, do you see opportunities or do you see obstacles? I believe FTHBs will be my key to success as they need my guidance and hand holding. Plus, renting…
What’s the Rental Market Like?
Zonda, the top source for data and intelligence on the construction of new housing from SFR to apartments released an interview last week of their Multi-Family Managing Principal Kimberly Byrum. She was asked what is the rental market like? She said, “The market today can be categorized in two words: NO AVAILABILITY. Why? Our country…
Consumer Inflation May Hit 10% This Summer
The Fed and many other people are thinking that inflation year over year will start to drop this summer. But, will they be correct? Here is a graph below showing the monthly consumer price index changes for the last 12 months. Last July, August and September we had much lower monthly price increases but this…
Do The Bond Markets Still Trust The Fed?
The Fed on Wednesday somewhat surprisingly raised short-term rates by 75 basis points. It’s expected they will raise rates in July by another 50 bps or possibly 75 bps. The Fed’s interest rate dot plot shows that the Fed Funds Rate will be 3.40% by end of the year, which is an increase of 1.75%…
“Day of Reckoning Coming for Overvalued Housing Markets Like Denver”
This was a big headline story in The Denver Post last week written by Aldo Svaldi citing a study done by Florida Atlantic University and Florida International University. This study shows that “Denver ranks 37th out of 100 metro areas with home values 38.5% above what would be expected on the long-term trend.” This study…
Inventory Increases by 76%; But…
DMAR released their May report last week to much “fanfare” because home inventory levels increased by 76% from May 2021 as there were 3,652 properties for sale as of May 31st in our 11-county area. Still there is only 0.67 months of inventory for sale. However, before Covid there were 8,891 properties for sale in…
Should You Wait to Buy Until Rates Drop?
Barry Habib from MBS Highway had a conversation in the last week with Dr. Lacy Hunt who is one of the top economists in the world and one of very best bond fund managers of all time. Dr. Hunt believes a recession is inevitable but thinks it won’t happen until the first quarter of next…
The President’s Plan To Increase Housing Supply
President Biden two weeks ago unveiled a new plan to hopefully increase the supply of housing and I applaud him for doing so. He wants to close the housing gap over the next 5 years by expanding sweeteners and reducing regulatory hurdles. Here are some details of his plan · Expand existing federal subsidies for…
New Home Sales Plummet
Last week the New Home Sales Report was released which measures signed contracts on new homes. Think of it like a pending sale on an existing home. Signed contracts dropped by 17% from March and sales are down a whopping 27% year over year. The new home sales pace is down to only 591k sales…
Is This Why So Many Buyers Are Shocked By Home Prices?
All of my home buyers this year have been forced to pay anywhere from $50k to $200k more than they thought they would have to pay to buy their new home. I think I know why. First, consumers typically start shopping for homes online at least 4-6 months before they start writing contracts on homes.…
4 Important National Real Estate Stats
In April, 61% of home offers across the country faced a bidding war, down from 67% a year ago on an adjusted basis, according to Redfin. But compared with April 2019, when about 15% of offers faced competition, it’s still a very strong sellers’ market. 444 Nationally, the share of homes marked down last month…
7 Home Remodels to Avoid
In this video I discuss the 7 mistakes we see people make including finishing the basement and converting a small 2-bedroom home into 1 bigger bedroom upstairs. I also know that window replacement costs vary hugely by company and its easy to overspend. This is a good video for you to share with your clients.…
