5 Minutes in Real Estate

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pem“I have observed that not the man who hopes when others despair, but the man who despairs when others hope, is admired by a large class of persons as a sage.”/em – John Stuart Mill (1840s)/p

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pEven back in the mid-1800s, people knew that negative news sells. That is still true today. All forms of media realize that they will get more eyeballs, clicks, likes, and engagement by posting something negative. However, they must realize that negative headlines impact markets.…/p

pThe post a href=https://www.shanewillis.com/podcast/the-enormous-divide-between-the-headline-and-the-truth/The Enormous Divide Between the Headline and the Truth/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

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pre class=field field--name-title field--type-string field--label-hidden field--itemNAR Board Approves MLS ‘Clear Cooperation Policy’/pre

div class=field field--name-field-summary field--type-text-long field--label-hidden field--itemTo address a growing use of off-MLS listings, NAR’s BOD says listing brokers must submit MLS listings within one business day after marketing them publicly./div

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pSAN FRANCISCO – To address a growing use of off-MLS listings, the National Association of Realtors® (NAR) Board of Directors voted 729-70 to approve a new rule affecting off-MLS listings, saying they must be submitted to the MLS within one business day after first marketing them to the /p

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pThe post a href=https://www.shanewillis.com/podcast/no-more-hiding-a-listing/No More Hiding a Listing/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

pimg loading=lazy decoding=async class=aligncenter size-full wp-image-7107 src=https://www.shanewillis.com/wp-content/uploads/2019/11/20191122-MEM-1046x808.png alt= width=1046 height=908 srcset=https://www.shanewillis.com/wp-content/uploads/2019/11/20191122-MEM-1046x808.png 1046w, https://www.shanewillis.com/wp-content/uploads/2019/11/20191122-MEM-1046x808-300x260.png 300w, https://www.shanewillis.com/wp-content/uploads/2019/11/20191122-MEM-1046x808-768x667.png 768w, https://www.shanewillis.com/wp-content/uploads/2019/11/20191122-MEM-1046x808-1024x889.png 1024w sizes=(max-width: 1046px) 100vw, 1046px //p

h3strongSome Highlights:/strong/h3

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liWith interest rates around 3.66%, now is a great time to look back at where they’ve been over the past few decades. Comparatively, they’re pretty low!/li

liAccording to a title=Freddie Mac href=http://www.freddiemac.com/fmac-resources/research/pdf/201910-Forecast.pdf target=_blank rel=noopener noreferreremFreddie Mac/em/aem, /emrates are projected to increase to 3.9% by this time next year./li

liThe impact your interest rate has on your monthly mortgage payment is significant. An increase of just $20 dollars in your monthly payment can add up to $240 per year and $7,200 over the life /li

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pThe post a href=https://www.shanewillis.com/podcast/the-cost-across-time-infographic/The Cost Across Time [INFOGRAPHIC]/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

pimg loading=lazy decoding=async class=aligncenter size-full wp-image-7100 src=https://www.shanewillis.com/wp-content/uploads/2019/11/20191120-KCM-Share.jpg alt= width=750 height=410 srcset=https://www.shanewillis.com/wp-content/uploads/2019/11/20191120-KCM-Share.jpg 750w, https://www.shanewillis.com/wp-content/uploads/2019/11/20191120-KCM-Share-300x164.jpg 300w sizes=(max-width: 750px) 100vw, 750px //p

pa title=Inventory href=https://www.mykcm.com/2019/10/14/existing-home-sales-report-indicates-now-is-a-great-time-to-sell/Inventory/a on the market today is low, especially among existing homes in the a title=entry and middle-level tiers href=https://www.shanewillis.com/podcast/depending-on-the-price-youre-going-to-need-advice/entry and middle-level tiers/a of the market. It is hovering well below the 6-month supply typically found in a more normal market, as shown in the graph below:img loading=lazy decoding=async class=aligncenter wp-image-90375 src=https://files.mykcm.com/2019/11/15115153/20191120-MEM-ENG.jpg sizes=(max-width: 600px) 100vw, 600px srcset=https://files.mykcm.com/2019/11/15115153/20191120-MEM-ENG.jpg 720w, https://files.mykcm.com/2019/11/15115153/20191120-MEM-ENG-600x450.jpg 600w, https://files.mykcm.com/2019/11/15115153/20191120-MEM-ENG-100x75.jpg 100w alt=Buyers Are Looking Now. Are You Ready to List Your Home? width=600 height=450 /With inventory being one of the biggest housing market challenges today, finding a starter home right now isn’t easy. According to the a title=Q3 Housing Trends Report href=http://eyeonhousing.org/wp-content/uploads/2019/11/HOUSING-TRENDS-REPORT-Q319.pdf target=_blank rel=noopener noreferreremQ3 Housing Trends Report/em/a from the emNational Association of Homebuilders/em (NAHB), 68% of those searching for a …/p

pThe post a href=https://www.shanewillis.com/podcast/buyers-are-looking-now-are-you-ready-to-list-your-home/Buyers Are Looking Now. Are You Ready to List Your Home?/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

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article id=post-90306 class=post-90306 post type-post status-publish format-standard has-post-thumbnail hentry category-buying-myths category-down-payments category-first-time-home-buyers category-buyers category-move-up-buyers-buyers

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pIn a recent article, a title=First American href=https://blog.firstam.com/economics/dispelling-the-myth-of-the-20-percent-down-payment target=_blank rel=noopener noreferreremFirst American/em/a shared how millennials are not really any different from previous generations when it comes to the goal of homeownership; it is still a huge part of their American Dream. The piece, however, also reveals,/p

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pem /emem“Saving for a down payment is one of the biggest obstacles faced by first-time home buyers. Dispelling the 20 percent down payment myth could open the path to homeownership for many more.”/em/p

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h4em /emstrongMyth #1: “I Need a 20% Down Payment”/strong/h4

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pThe post a href=https://www.shanewillis.com/podcast/2-myths-holding-back-home-buyers/2 Myths Holding Back Home Buyers/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

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pThe economy is currently experiencing the longest recovery in our nation’s history. The stock market has hit record highs, while unemployment rates are at record lows. Home price appreciation is beginning to reaccelerate. This begs the question: emHow long can this economic recovery last?/em/p

pThe emWall Street Journal/em (WSJ) emSurvey of Economists/em recently called for an economic slowdown (recession) in the near future. The most recent survey, however, now shows the economists are pushing that timetable back. When asked when …/p

pThe post a href=https://www.shanewillis.com/podcast/how-long-can-this-economic-recovery-last/How Long Can This Economic Recovery Last?/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

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pAccording to a title=CoreLogic href=https://www.corelogic.com/research/foreclosure-report/national-foreclosure-report-10-year.pdf target=_blank rel=noopener noreferreremCoreLogic/em/a, from 2006 to 2014 “emthere were 7.3 million housing foreclosures and 1.9 million short sales./em” The hesitation some Americans feel after experiencing a foreclosure brings to mind the old saying: “emFool me once- shame on you. Fool me twice- shame on me./em”/p

pAccording to the a title=2019 Home Buyer Report href=https://www.nerdwallet.com/blog/2019-home-buyer-report/ target=_blank rel=noopener noreferrer2019 Home Buyer Report/a from emNerdWallet,/em/p

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p“emThirteen percent of Americans have lost a home due to a financial event such as foreclosure in the past 10 /em/p

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pThe post a href=https://www.shanewillis.com/podcast/boomerang-buyers-dont-be-afraid-to-buy-a-home-again/Boomerang Buyers: Don’t Be Afraid to Buy a Home Again!/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

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pRecently, there has been a lot of talk about the size of the foreclosure inventory in the nation. There has been some speculation that distressed property inventories are about to skyrocket. Today, we want to reveal what is actually taking place in this segment of the housing market./p

pemCoreLogic,/em in their most recent a title=National Foreclosure Report href=http://www.corelogic.com/about-us/researchtrends/national-foreclosure-report.aspx#.VzoqZq32acw target=_blank rel=noopeneremNational Foreclosure Report/em/a, reported that foreclosure inventory has decreased by 23.2% since this time last year. The report also showed that foreclosure inventory has decreased in …/p

pThe post a href=https://www.shanewillis.com/podcast/are-foreclosures-increasing-or-decreasing/Are Foreclosures Increasing or Decreasing?/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

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pIn today’s real estate market, more houses are coming to market every day. Eager buyers are searching for their dream homes, so setting the right price for your house is one of the most important things you can do./p

pAccording to emCoreLogic/em’s latest a title=Home Price Index href=https://www.corelogic.com/insights/home-price-index.aspx target=_blank rel=noopener noreferreremHome Price Index/em/a, home values have risen at over 6% a year over the past two years, but have started to slow to 3.6% over the last 12 months. By this time next year, emCoreLogic/em…/p

pThe post a href=https://www.shanewillis.com/podcast/is-your-house-priced-to-sell-immediately/Is Your House “Priced to Sell Immediately”?/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

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pSome are afraid the real estate market may be looking a lot like it did prior to the housing crash in 2008. One of the factors they’re pointing at is the availability of mortgage money. Recent articles about the availability of low-down payment loans and down payment assistance programs are causing concern that we’re returning to the bad habits of a decade ago. Let’s alleviate the fears about the current mortgage market./p

pThe emMortgage Bankers’ Association/em releases an index several …/p

pThe post a href=https://www.shanewillis.com/podcast/this-is-not-2008-all-over-again-the-mortgage-lending-factor/This is Not 2008 All Over Again: The Mortgage Lending Factor/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p