The Double Comma Club

We just experienced a HOT real estate market that left homebuyers who couldn't afford to pay $50,000 - $100,000 over the asking price with little chance of getting into a home.

While home prices and interest rates seemed to skyrocket, home affordability was challenged, pushing many prospective buyers out of the market. But does that still hold true today? Is home affordability gone? Can you save money and try to purchase a home?

What is the difference between Pre Qualified and Pre Approved? #shorts

Foreclosures are up 150%! Okay, they are but let’s take a step back.

All hope is not lost if your appraisal comes in low!

Headlines say that Mortgage Demand has dipped to an "all-time low."

Investing in the Denver Real Estate Market TODAY. Nicole chatted with realtor, friend and fellow investor Christie Metoyer of Live.Laugh.Denver Real Estate and Rent today about purchasing her 3rd investment property and how real estate investing has changed her life! She says what blows most first time homebuyers away is the fact you do not need 20% down to buy a home in this market. Listen to more reveals in this episode. You can also catch the video version here - while you're there, subscribe to The Rueth Team's YouTube channel. https://www.youtube.com/watch?v=ityXriu79BI

Real estate is a long-term game. Nicole says it time and time again... it's not about money, it's about options. Investing in real estate opens up doors and options down the road that can lead to stability and financial success.

While it may seem like a shot in the dark, real estate always goes up. The sooner you can capitalize on the benefits real estate gives you TODAY, the sooner you can build multi-generational wealth. In this episode Nicole compares her experience when she got started investing in real estate in 2009's market with today's. She'll tell you her story and the logic behind continuing to add doors to her portfolio. 

What's Next for the Housing Market? Is it BOOM OR GLOOM?

Is the housing market going to crash? Will we enter into a recession? What happens to housing in a recession? Is now still a good time to buy a home?

I hope this episode answers a lot of your questions and will help show you that the housing market is still strong!

A recession is always coming, it’s just a matter of time.  It’s purely the nature of a cyclical economy. “Are we in a recession” searches continue to hit record levels on Google, and talk of a housing recession has some counting on the bubble to burst.  With more inventory and all other numbers lower across the board, it’s starting to look like a recession, or, maybe it’s just the slowdown we’ve all been hoping for.

A recession does not equal a housing bubble.  While there will be layoffs, slowed production, and a softening in consumer spending, Americans are coming into this recession with $2 trillion in savings and twice the home equity there was in 2006. Colorado is also protected by having 38% of homes owned free and clear, only 1.7% of mortgaged homes delinquent, and a current foreclosure rate of 0.1%.  If home prices continue to slow, as I expect they could during the second half of 2022, recent buyers might lose a little value, some homeowners might even need to sell quickly, but most will simply not sell.  Knowing that as rates drop, as they consistently do during recessions, pent-up demand will reengage with our limited supply, forcing multiple bids and yet again higher prices. 

Institutions, first-time home buyers, and those who have been waiting will all be ready to buy on these dips. And since we have not yet achieved an inventory level that could comfortably sustain a surge in demand, the thought of a housing bubble eludes me.    

Another question in this episode is, "What if there's a grow house in the garage?" The guidelines for appraisals vary depending on who the lender is, whether it's Fannie, Freddie, VA, FHA, or Conventional. Nicole's guest is Paul Cress, AVP of Staff Appraisal Operations for Frisco Lender Services (FLS).

Nicole asked him, "So what brings that volatility, and what eases it overall?"

Paul told her, "Lately the reason it's eased is that interest rates have dropped, demand. It's simple supply and demand. Realistically, over the past three years, property values have risen more than they have at any other time in history. That's due to increased demand and decreased supply. It's caused quite a market stir where realistically, the purchase demand can't be caught up with, and appraisals are done in retrospect, they're a flash in time. And when you're looking back even weeks or days, and trying to keep up with this market, that's increasing day over day. That's what really caused the stir in the market and values to become undervalued or, become under what the contract price was. 

Nicole pressed, "If I have a buyer willing to pay an amount of money for a house, even if it's over asking price, isn't that the market value?"

You'll have to tune in to hear his answer, the issue of ADUs, grow rooms, and how much adding a rental unit can add to your home value.

1. Lock and Shop

2. TBD Underwrite

3. Knowing Your Needs vs. Wants

We are still seeing a lot of market volatility and with the FED meeting this week, everyone is praying that they will just control inflation! But, interest rates DROPPED. There is a window of opportunity to take advantage of as a homebuyer, and we have a program that can help you lock in at these lower rates!

While you're at it, look at gas prices and go fill up, TODAY!

In a tough market flooded with negative headlines, it can be an uphill battle trying to convince clients that now is still a good time to buy!

The truth is that we don't know when a recession will happen, or what the extent will be? How much further interest rates will rise? When they will fall?  How much will they fall? The list goes on and on. And it's scary, I get that. The unknown always is. But here's what we do know:

1. Housing goes up in the long term

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