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ON THE
HOUSE
02.16.24
How Much Is A Super Bowl Ad Worth?
Are you still reeling from the huge game on Sunday?? I am too, but mostly still thinking about the absurd amount of $$$ that was spent on advertising!
If you'd like to get in touch with James Carmody, visit his website here
11 New Branch Locations
Synergy One is embracing growth and expanding into new markets. We’re both thrilled & humbled by the commitment of our newest team members as we embark
Check out our Instagram Post about it here!
Fixed-Rate
Second Mortgage
Industry Insights
5 Bold Predictions For Real Estate In 2024: Election Edition
Recap: The real estate market in 2024 is poised for change due to falling interest rates, pent-up demand, and a presidential election, leading to an increase in home prices and buyer activity. Inventory shortages will persist despite slightly improved selling conditions, as demographic shifts continue to influence moving trends and urban-to-middle city migrations. The election’s outcome may affect timing and market sectors, but unforeseen events could further impact the real estate landscape.
My Take: I agree with American real estate broker and author, Ryan Serhant. We will see lower rates, and that will increase buyer demand. More inventory will become available, not enough to satisfy demand. It’s an election year, for better or worse, we will get surprises.
Read More Here: Forbes: 5 Bold Predictions For The Real Estate Game In 2024: Election Edition
Budgeting 101
The 50/30/20 Rule
Recap: 50% for needs, 30% for wants, and 20% for savings and debt repayment. It’s one of the simplest budgeting tools that you can put into practice today! The process includes identifying your after-tax income, distinguishing between needs and wants, and adjusting expenditures to save for emergencies and future goals. Regularly revisiting and managing your budget can help you make informed decisions about your finances, allowing for both necessary expenses and enjoyment in life.
My Take: Budgeting 101. Great article with simple tips. My rule is save 20% for retirement, investing, and debt payoff. Always live below your means. I have a simple personal budget spreadsheet I can share with you. Reply to the newsletter to request the budget
Read More Here:
Nerd Wallet: How to Budget
Success Story
How I Helped My Client Pay Off $52K in Credit Card Debt
I want to share with you a very special story about an older widow in Northern California. She has a property free and clear, but she’s on a fixed income and unfortunately let her debt really get out of control. We were referred to her by a family friend to help her out. In the beginning, she had 21 different credit cards and over $50,000 in credit card debt. The minimums on these was over $3,200 a month.
At the time, she didn’t even qualify because her credit score was too low. We put together a plan, she followed the plan for three months and she got the scores where she needed to be. We were able to successfully do a cash out refinance, leverage the equity in that home, pay off all the debt, keep a couple of them open that she actually used and would help her close the rest, increase her credit scores and free up over $3,000 a month in monthly expenses.
I share that with you because that literally changed this person’s financial future and allowed her to go back and live her life. And that’s one of the many reasons that I love being a loan officer in the mortgage industry. Because we get to play such a special part in someone’s life and make a huge positive impact on their finances. This woman is totally on a different path and I’m just honored to have been able to play a part in her life and make such a big difference.
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