07.19.24

Written by Chase Majerus

Special Friday Edition

It’s Friday and on the This Week Today Newsletter, we are dishing up as much info on the world of real estate and finance as humanly possible to get you through your weekend. We’ll cut to the chase, since we got so much in stock for you!

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Today's Agenda:

S1L Home Equity Loan

Use Your Home For The Best Future Gains

A home equity line of credit, or HELOC, lets you borrow against your home’s available equity. Applying for a HELOC with Synergy One Lending is fast and easy. Our application is fast, easy, and all online. If pre-approved, you’ll be instantly presented with your offer options.

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The Rate Fall Fallout

The big question we’re asking is what happens when the rates (eventually) fall? We’re going to break it down across the whole housing market spectrum:

  • Market Conditions: Sales, new listings, and prices are down, but positive inflation data and a dip in mortgage rates below 7% suggest a bullish outlook (hopeful or confident that something or someone will be successful)
  • Inventory Trends: 651,000 unsold single-family homes, up 38.5% from last year but below pre-pandemic levels in most states. Watch if inventory rises or plateaus in the second half of the year.
  • New Listings: Holiday weekend saw 57,000 new listings and 11,000 immediate sales, with a 6% drop from last year. Numbers are expected to rebound.
  • Sales and Pending Contracts: 58,000 new contracts, consistent with past holiday periods. 382,000 homes in contract, up 1% from last year. Sales may rise if mortgage rates fall further.
  • Price Movements: Median listing price is $450,000, unchanged from last year. New listing prices down 1% year-over-year. Pending contract prices are $393,000, up 3.1% from last year.
  • Price Reductions: 38.3% of listings have reduced prices. If mortgage rates drop, expect fewer price cuts and increased demand.

The big question we’re asking is what happens when the rates (eventually) fall? We’re going to break it down across the whole housing market spectrum:

  1. Mortgage Rates: Continued declines could boost demand and affect inventory, listings, and sales.
  2. Price Trends: Watch for stabilization or increases in demand, potentially reducing price cuts.
  3. Recovery Indicators: Monitor inventory growth, immediate sales, and price reductions for signs of market recovery.


Read the Breakdown On HousingWire Here

Social Space

Our Top Social Links of the week

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Is this the best real estate ad on social media? – Watch here!

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If you use Salesforce, you know the struggle – Watch here!

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90’s New York homestyle was a vibe – Watch here!

Video:
If you want to get better at social media storytelling – Watch here!

Financial Fitness

Let's uncover reinvesting... I mean"Rentvesting"

Rentvesting Concept: Renting a primary residence while buying an investment property to rent out elsewhere can be a way to enter the property market, especially in cities with high home prices.

Benefits: Rentvesting can be ideal for individuals with high incomes in expensive cities, allowing them to invest in more affordable markets and potentially use savings for a down payment.

Challenges: Becoming a landlord at a distance involves researching and considering various costs, such as property management fees and local regulations on rentals.

Market Trends: Small investors are increasingly active in the property market, making up 62.6% of investor purchases in Q1 2024, despite rising corporate landlord presence.

Financial Considerations: Lower mortgage rates are favorable for rentvestors, but falling rental prices in some areas due to increased supply can pose challenges in finding tenants.

Key Questions: Prospective “rentvestors” should evaluate property-specific regulations, the need for a property manager, affordability of ownership costs, competition in the rental market, and their ability to cover potential vacancies.

Read More About Rentvesting Here (We mean rentvestors)



Financial Fitness: Bonus!!

If you’re reading this, it’s not too late.

Recent signs of easing inflation suggest the Federal Reserve might lower interest rates as soon as this fall. We know that, though, we already said it earlier in this newsletter. BUT, this potential rate cut could reduce borrowing costs for households, particularly for variable-rate debt like credit cards and adjustable-rate mortgages.

If you are a consumer, which your are, you should consider locking in current high savings rates and delaying large purchases like homes or cars to benefit from future lower financing costs. However, lower mortgage rates might increase homebuying demand, potentially driving prices higher. Improving credit scores can also help consumers secure better loan terms.

Read More About how to Benefit From the Incoming Low Rates Here

S1 FinFit App

Digital financial assistant at your fingertips

S1 FinFit is a FREE app that provides a roadmap to help you reach your financial and lifestyle goals, no matter how big or small! Free credit monitoring with alerts, set financial goals, create budgets, and keep track of your spending to see where your money is going.

Download the app on the appropriate app store with the links below!

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Federal Government Housing Proposal

I asked Chat GPT to explain this press release to me like I was a child. Which was genius because it’s a lot easier to understand. I should do this with every article… Anyway, let’s check it out;

“President Biden wants to make a new rule so big landlords can’t raise rent too much. If they have 50 or more homes, they can only raise rent a little bit each year for two years. Some people think this will make fewer houses available to rent, but others say it will help keep rent prices fair. Biden also wants to protect renters in other ways, like giving more time before rent goes up or a lease ends. He’s also working on building more homes for people to afford. The goal is to help families find homes and keep prices from going too high.”

If this is too simplified for you, check out the article here

Vlog

Here are 6 things that @chasemajerus learned after attending the Forward Event 2024

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  • Personal branding is a powerful tool that shapes how others perceive you, influencing opportunities and success in both personal and professional realms. By consistently presenting a unique and authentic image, you can establish a strong reputation that sets you apart and builds trust with your audience.
  • If the thing/information that you know is helpful to others, then holding onto it without sharing is more selfish than talking about the those things to your social media audience!
  • The frequency at which you post needs to increase – according to Gary Vaynerchuk, you should be posting written, photo, video, or audio to any of the major social media platforms (Facebook, Twitter, Instagram, LinkedIn, TikTok) MULTIPLE times a day.
  • There are 2 major types of mindsets, AC mindset (accept and change) and BC mindset (blame and complain). You tell me which one you think is more helpful in your business and personal life.
  • Alex Hormozi believes that you should be spending between 2-4 hours a day on your social media content. And there is nothing more important than the first few moments of a post. Those first few moments are where you simultaneously demonstrate authority and tell the viewer/reader what value they’ll be receiving.
  • Building strong positive habits around your vision is one of the most important aspects of taking successful action. It can be a lot easier to unlearn negative self thought throughout your process.

Check Out Our Vlog Here

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