National RE Data You Need to Know

ATTOM Data Solutions reported that lenders repossessed or foreclosed on 20,750 properties in the first 6 months of this year, up 113% from last year when the federal government nearly outlawed foreclosures. But, if you compare 2022 to 2019, foreclosures are down 70% and are down 88% from 2017. · The national Case-Shiller Index showed…

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Redfin Says Our RE Market is at Risk

Redfin released a report last week showing which housing markets are most vulnerable during an economic downturn as Redfin created a “risk score” based on these factors: home LTVs, the share of home sales that were flips, how quickly a housing market has cooled in the first 6 months, how much net migration, a market’s…

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Answers to the Top 5 Questions Homebuyers Have…

I have created a 20-minute Zoom presentation for our clients titled “Answers to The Top 5 Questions Homebuyers Need to Know Now.” It’s based off my new class that I have been teaching you. The 5 questions are— 1. How do rising mortgage rates impact home prices? 2. What happens to mortgage rates during a…

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Jumbo Loan Rates Are Much Lower

For the last few months jumbo loan rates have been about 1% lower than conforming loan amount rates. Jumbo loans begin at $684,251 in metro Denver. Why are jumbo loan rates lower? It’s because the Fed’s actions and plan to reduce their balance sheet has no impact on jumbo loans. Why? The Fed doesn’t own…

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Amazingly Few Foreclosures & Other Stats

Realtor.com reported that median rent in June across the 50 largest metro areas climbed 14.1% from June 2021. This is the smallest increase this year. Maybe rental appreciation rates will slow down too. · Redfin reported that in June only 49.9% of listings were involved in a bidding war, the first time below 50% since…

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New Home Construction is Slowing Down

The National Association of Home Builders released their June report— · Housing starts were down 2% to an annual pace of 1.56 million units. Single-family starts were down 8.1%. · Housing permits were down 0.6% last month and single-family permits were down 8%. · Housing units authorized, but not yet started, are up nearly 16%…

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Want a Rate in the 3’s?

Homebuyers this summer have 2 BIG pain points, one is soaring home prices over the last 2 years. Second, is soaring mortgage rates this year. However, rates are down over ½% since they peaked above 6% in June. And I am hopeful that rates will drop more after the Fed raises short-term rates like they…

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Do You Ask Your Clients This Question?

Currently, fear and uncertainty is stopping some people from moving. Which is why I have created a new Zoom video for consumers that I will tell you more about next week. So, how do you keep your clients focused on their goal to sell a home or to buy a new home and ignore the…

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How to Stop Trigger Leads

At my company a BIG topic of discussion has been the HUGE INCREASE in calls our clients receive after asking us to order their credit reports. I have been told some people are receiving dozens of calls and emails from other lenders after we ordered their credit report. Why does this happen? The 3 credit…

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