The 85% Solution

Getting started is more important than becoming an expert. Too many of us get overwhelmed thinking we need to manage our money perfectly, which leads us to do nothing at all.’ – Ramit Sethi (Host of Netflix’s “How To Get Rich,” NYT Bestselling Author, & Host of the I Will Teach You To Be Rich Podcast)

You can check out the “I Will Teach You To Be Rich” Podcast Here!

I'm James Carmody

Today, Im Covering the following topics:

NAR President Tracy Kasper Resigns

US homebuyer confidence up in December

Video: Common First Time Homebuyer Mistakes

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Tracy Kasper

The President of the National Association of Realtors has resigned

Recap: After receiving a threat to disclose a personal matter unless she stepped down. She reported the threat to law enforcement but still relinquished her position to protect the organization’s integrity. President-elect Kevin Sears will assume the role of NAR President.

My Take: First off, this is insane! What is happening at the NAR where someone feels the need to blackmail? Of course, it isn’t immediately apparent what inner workings are going on but the association basically said that they would continue its commitment to advocating for homeownership and maintaining transparent and competitive real estate markets for American buyers and sellers.

US Homebuyer Confidence Up

In December More See Loan Rates Falling

Recap: In December, U.S. homebuyer confidence got a boost as more homeowners believed that mortgage rates would continue to drop. However, the housing supply might not bounce back quickly as homeowners are still hesitant to sell their homes, potentially leading to only modest improvements in home sales in 2024.

My Take: Let’s do a short lesson; why do we care about consumer confidence? Consumer confidence gives economists a window into how people are feeling about the economy. This is generally expressed in how they save and how they spend their money. And this ultimately helps businesses and economic leaders track inflation and output.

Video

Common First Time Homebuyer Mistakes

Common first-time home buyer mistakes and things you can do to set yourself up for success!

Start with the lender, not the realtor. You to figure out your financing, your budget, what loan program, etc. before you even search for a home.
Have your credit checked. Synergy One Lending can do a soft credit poll so it doesn’t impact your credit scores.
Make sure you have a steady income. You don’t want to be changing jobs in the middle of this process. That can cause complications.
Last, be educated and informed on the process. Again, sit down with a lender. Talk about what happens when you make an offer. What does the process look like of going through escrow? How do you close? And most important, what are all the things you need to do to be successful?

Watch the full video HERE!