Not in the way that you are thinking...

Home prices have gone up after every election but 1 in recent memory

Even if this was not an election year

Market conditions suggest that prices would go up 

A few of the leading indicators that I am paying attention to are

Inflation - which is trending lower

Interest Rates - which are also trending lower

Available homes for sale - slowly increasing but not a balanced market yet

Investors Make Moves at the end of the year for tax purposes

There is a real possibility of a holiday surge this year

Keep in mind that investors have 3 possible wins in every property

cash flow - depreciation for tax purposes - increased property value

 

....we take a deep dive on things most people aren't aware of   and discuss some of the ways that you can protect your home and family   and what you need to know when you repair the damages in your home   to reduce the risk of health concerns in the future   whether it was a roof leak, wind driven rain,   or rising waters that caused your home to flood   there a number of things that you want to consider   when your are choosing the right repairs and contractors   removal - remediation - abatement may all be on the table   drywall may need to be removed   cabinets and doors may need to be detached   floors may need to be ripped out   mold spores may be present and if so using fans may not be advisable   in older homes you may have asbestos or lead based paint   in some cases there may be buried kerosene or fuel oil tanks   any of these things that mix in with the water in your home   could present some big concerns and need specialized treatement

 

 

 

...is an option for many hurricane affected people

FEMA is a major resource

there is an application process for the affected individuals

it is subject to government funding so apply as early as possible

the state of Florida has set up a small business emergency bridge loan fund

this a temporary program it is needs based and you will need to supply financials

The SBA also has a disaster relief loan program

business and personal financial information is required to apply

at a time when cashflow is a concern

these programs offer the relief that families and businesses alike

need to move forward in the recovery process

 

...and it happens in an interesting way

it begins with a problem 

there is a home that the owner needs to separate from

perhaps due to a job relocation

maybe a change in the family situation

initially the home may be put up for sale

but there are times where the sales price available

simply doesn't make sense

and suddenly it becomes a rental property

that brings in much needed cash

and allows the owner to sell in the future when its more advantageous

for many it works out very well

and they begin to accumlulate more single family properties

the next natural step is to explore multi family rentals

we break that down in detail during todays show

...is easily the most sought after tool in real estate today

oddly enough, there isn't an algorithm that does it for you

and no button extists that gets the price right

if you ask an appraiser...

pricing a property is a bit of an artform

if you ask a realtor...

they might leave you feeling like its an impossible thing that only they can do

if you ask me...

there are 3-4 things that really matter

location

condition

marketing

price

and if you are determined to sell your home

either on your own

or with the help of an agent

think about the danger of the 3 P's

Time To Pitch In and Help...   Wyse Home Team at LPT Realty is now converting its office space   Into a donations center for those affected by Hurrican Helene   We are able to accept donations Monday - Friday 9am - 5pm   At our office at 365 Bill France Blvd in Daytona Beach FL 32114   If you have questions, you can call/text me at 386-562-2651   You can also comment below or send me a PM   We are working quickly with LPT Realty to get set up   This is evolving quickly and more updates will be provided   If you are able to, please consider donating

...too Expensive And Don't Necessarily Take Too Long To Build   Builders Have Caught Up with the demand for new homes   And there are move in ready homes available in 60 days or less   Custom build times are much shorter than in the past few years   Closing cost incentives are avaialble   2-1 Buydown Programs can lower your monthly payment in the 1st 2 years   Some builders are closing out subdivisions and may have more incentives   Other builders want to clear some inventory before the end of the year   The vast majority of builders are Real Estate Agent friendly   and since most buyers want to have their own representation   its a very opportune time to revisit the benefits of New Construction

...That Their Short Term Rental Property Profit Went Poof

The last few years saw a significant amount of short term rental purchases

For many, there were solid cashflow returns in the beginning

Unfortunately - Many Investors profits have dropped dramatically

Travel is down across the board due to inflation

and the hotel industry has increased their efforts to attract the available market share

In many cases, the properties that the investors purchased

were not zoned for short term rentals 

and it was never discovered during due diligence (or simply ignored)

And now those fully furnished rentals are not highly sought after as long term rentals

which creates a major issue for those owners

most long term renters want to bring their own furniture

and are unwilling to pay storage fees 

so the property owner is often forced to move their furniture to storage

or sell it off at a steep discount

neither of which is ideal

at the end of the episode, I discuss the options available for these impacted investors

 

 

The highly anticipated Fed Meeting will take place this week

It may not actually have much effect on mortgage interest rates

which is the #1 reason why home sellers will wait to sell their homes

their reluctance to give up -2%-4% rates on their current home is the logjam

The Fed will drop interest rates - write it down - they will do it

I predict a .25 rate reduction

I also predict that mortgage interest rates will go down less than .25%

Banks have been pricing in the anticipated rate drop

so home buyers may not get as big of a drop that they were hoping for

The Fed Rate has been at a 23 year high for quite some time

and the time is right for a rate drop

some homeowners that purchased in the last 2 years at rates between 7-8%

are going to be adble to refinance soon

as rates are now sitting on the 6-6.5% range

I am not sure that this will be enough of a rate drop 

to get sellers locked in at 3-4% from purchases a few years back

to sell their homes, but its a step in the right direction

this will play out gradually not quickly

... That Things are very different for home sellers

as they try to navigate the new real estate rules 

Today I give guidance based on the the questions that have come in recently

choosing the right sales strategy 

the most effective marketing plan

and negotiation tactics

are paramount to success

whether or not to pay a commission 

and at what level is not necessarily an exact science

the soultions in todays episode will provide some much needed help for many