Tag Archive for: homebuyers

“Dear Buyer, The Market’s Not Soft; Please Don’t Lowball;” Cockroaches Kill Deal; 10 Day Closes Reign Supreme!

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Many of the markets we serve are, in fact, very cool, with inventory builds and price discounts (mostly across the Sunbelt). It’s fascinating to see how some very hot markets are only a few miles away from some very cool markets, too – in all states. The crash bros are constantly posting about the soft markets alone while ignoring the many very hot markets. Homebuyers are seeing this onslaught of housing doomerism, firmly believing they can find “deals” in every market, and insisting on either lowballing or underbidding in the face of fierce competition. I bring this up because we are seeing our buyers get outbid over and over. This is one more reason we should all teach buyers to ignore the crash bros.Read More

Great News About Inflation! 8 Inflation Facts Every Agent Should Know

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Almost nothing impacts interest rates as much as inflation. This is because bond investors (who control interest rates) demand higher yields (rates) when inflation runs hotter. Agents and mortgage lenders alike should care about inflation because lower rates drive homebuying demand – something we saw take place directly in November and December in response to falling rates. NAR economist Lawrence Yun often reminds us that as many as 5.5 million more homebuyers qualify for mortgages when rates drop 1%, and 10% of those people jump into the housing market. So – this is why everyone should be ecstatic about the significant declines in inflation we’re seeing.Read More

Uh Oh. First-Time Buyer Median Age is 38! Average Age Of Buyers Is 56! Solutions?

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In the 1990s, I rarely had a first-time homebuyer over the age of 30. But, by the end of last year, the average age of first-time homebuyers was 38, as this recent Darth Powell post illuminates.Read More

First-Time Homebuyers Get Much Lower Rates, Unless….

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Real Estate Agents – Here are some extremely important reminders about first-time homebuyer interest rates. I have been in the mortgage industry since 1994, and for 25+ years, I would […]Read More

The Optimal Down Payment Is Less Than You Think

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All too many homebuyers mistakenly believe that they need to put down as much as humanly possible for several reasons: (1) they want to minimize their housing payment; (2) they want to minimize their debt load; (3) they want to avoid PMI; and/or (4) they want to make their offers appear stronger.Read More

What Is A Conventional Loan?

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Conventional loans are a favorite for homebuyers with decent credit scores and who have a fair amount of funds for a down payment. Conventional mortgages should not be confused with “Conforming Mortgages. Read More

83% Of Homebuyers Believe It Is a Bad Time to Buy; What To Do?

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* 83% of homebuyers in a recent University of Michigan survey believed it was a bad time to buy a home right now….. the lowest in 60 years! Has social […]Read More

Huge Opportunity From High Rates!

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Grizzled Escrow Officer Sets Me Straight! While aimlessly wandering the hallways lamenting the industry slowdown, I ran into a very grizzled escrow officer who runs the title company next door. […]Read More

5 Reasons to Put Less Money Down

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We often have borrowers who want to put as much down as humanly possible – to minimize their housing payment. But – we often talk them out of it for […]Read More

How Millennials Power The Housing Market – 6 Conclusions

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“Millennials Are Super Charging The Housing Market” This was a front page headline in the WSJ recently. The millennial surge is something we have all seen coming – but there […]Read More

3 Biggest Reasons To Buy Real Estate

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The 3 biggest reasons to buy real estate now are: Increasing Rents: Rents are skyrocketing and will only continue to shoot up with inflation. Buying now allows homeowners to permanently […]Read More

2022 Conforming Loan Limits Announced – Up By $100,000; Good or Bad?

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As we all learned on TikTok recently, the FHFA announced the new Conforming Loan Limits for Fannie Mae and Freddie Mac. I mention TikTok because that is where one of […]Read More

Why Homebuyers Need To Use A Real Estate Agent

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When Homebuyers Represent Themselves In Real Estate Transactions – Bad Things Happen 😊 Many years ago when I was new to the business, I wrote a purchase contract for one […]Read More

Study Shows First-Time Dallas Homebuyers Look for Financing First

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In the Washington Post’s housing report, they found that 74% of homebuyers start their house hunt in areas like Dallas, Texas, by researching financing options and getting pre-approved with a local Dallas lender. For first-time homebuyers, that percentage increases to 85%.Read More