By CHUCK GREEN
Where should you stow at least some of your hard-earned cash this year?
Under the mattress? Hmm…. you might want to consult your financial advisor first.
Of course, there are lots of options. Despite a landscape rife with unpredictability, perhaps real estate’s your cup of Java. Or maybe the stock market, for all its maddening ups and downs, floats your boat.
The choice isn’t exactly as simple as deciding on one or two Splendas with your Latte, so The Mortgage Note set out to find out where experts expect to see the most returns in 2024.
Taylor Kovar, CEO and founder of Kovar Wealth Management in Lufkin, Texas, doesn’t think people can go wrong investing in both. …
By NICOLE MURRAY
As more people consider jumping into the housing market this year, what do they need to know?
The Mortgage Note set out to answer this question, talking to industry leaders and three people who recently purchased a home to get their opinions.
Kevin Wu, who bought his first home in 2020, started looking at potential properties with his fiancé just as the real estate market started to transform. The couple looked at almost 15 houses and found their forever home when interest rates were 3.3% in a rather unique experience.
“The home we bought was under contract with an approved offer but for whatever reason, they allowed us to look and even place an offer,” said Wu.…
By NICOLE MURRAY
A number of real estate industry professionals experienced a painfully slow 2023 and it is predicted this trend will continue in 2024. With high interest rates and low inventory expected, people are encouraged to use this year to prepare for an explosive 2025.
The Mortgage Note spoke with industry professionals to see what they expect and what tactics they plan on utilizing to be successful until the inevitable market boom everyone eagerly awaits.
“2024 is going to be another stubborn year for originators,” says Jason Perkins, president of CRM company Bonzo. “We might get some relief with rates, but tight inventory and rising home prices will continue to be a burden for potential homebuyers for quite some…
It’s time to shake off 2023 and move into 2024 with a fresh perspective. Editor Kimberley Haas spoke with industry leaders who have tips for finding success in the new year and insights into the latest technology.
If you would like to participate in future episodes, please email us at [email protected].
Read articles featuring the guests:
Overcoming Objections And Winning Business With Ron Vaimberg
Embracing Technology: One-On-One With Rocket Homes President Sam Vida
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Artificial intelligence is changing how people buy homes and leaders at Rocket Companies are leaning in and embracing the latest technology.
In December, it was announced that the Rocket Homes app is now available to potential buyers while they are driving through Apple CarPlay. Homes listed for sale can be seen in the “Nearby” tab. By tapping the vehicle’s screen, drivers can get directions to a home, call an agent, or save listings to their “Favorites.”
Doug Seabolt, CEO of Rocket Homes, said at the time that the app is making house hunting more convenient for busy homebuyers on the go.
“When looking for a new home, the search never stops – even when you are driving around town. That…
By ERIN FLYNN JAY
As artificial intelligence plays an increasingly important role in the mortgage business, industry leaders are figuring out ways to harness its power to revolutionize homebuying.
Dan Weisman, director of innovation strategy at the National Association of Realtors, said AI brings enhanced automation, efficiency, and transparency to the process. People who can effectively use it have the chance to dominate the landscape in 2024.
“With artificial intelligence rapidly entering our lives faster than most could imagine, the industry has opportunities to improve analyzing market trends, assessing credit risk, and ensuring regulatory compliance, which will lead to a more tailored lending experience,” Weisman said in a recent interview with The Mortgage Note.
For example, JPMorgan Chase is developing…
By CHUCK GREEN and KIMBERLEY HAAS
The full impacts of legal actions being taken against the National Association of Realtors are still not clear, but industry leaders are advocating for agents, saying they offer valuable expertise.
In October, a Missouri jury ordered the association and two of the nation’s biggest real estate brokerages to pay almost $1.8 billion in damages after they found that commissions were artificially inflated to pay agents. Fresh off winning the verdict, attorneys for the plaintiffs filed a new lawsuit seeking class-action status covering anyone in the country who sold a home in the last five years.
NAR’s President Tracy Kasper said in a statement at the time that they will appeal the liability finding, and…
By KIMBERLEY HAAS
A grant from the Wells Fargo Foundation will help establish a training program to address the need for credentialed contractors in communities nationwide.
The foundation has a working relationship with Team Rubicon, a veteran-led humanitarian organization that provides relief before, during, and after natural disasters. Leaders there say they continue to see a critical shortage of people with the skills necessary to assist homeowners in the rebuilding process.
Team Rubicon’s new TRades Academy will provide veterans with contracting, electrical, plumbing, and HVAC skills. Trainees will gain the field experience needed to eventually become certified contractors in their own communities, according to a press release.
Wells Fargo has provided a $750,000 grant to support the academy. That money…
By CHUCK GREEN
Curled up in front of the television watching a Christmas movie, one might romanticize the notion of laying down roots in a holiday-themed town or city.
Believe it or not, there are a number of municipalities in America that have names people might associate with this time of year. Stacker, based on information from the Census Bureau, found 29 of them, including North Pole, New York; Rudolph, Wisconsin; Bethlehem, Pennsylvania; Santa Claus, Arizona; and Christmas, Florida.
Snowflake, located in Navajo County in Arizona, has one of these novel names. Jay Eckhardt, the 2023 president-elect of the White Mountain Association of Realtors, told The Mortgage Note that the name is a talking point but buyers move there for…
By CHUCK GREEN
Home affordability has been a popular topic for the past few years as prices rose and interest rates shot up. First-time homebuyers have complained that they need to spend more to get less than their parents did and industry leaders say they are somewhat right.
Andrew Lokenauth, publisher of BeFluentInFinance.com, said that last year the median home price was $428,700 and that with a 20% down payment of $85,740, the mortgage amount would be $342,960. This would require 34.2% of the median household income of $79,900 to cover the monthly principal and interest payments, he said.
Lokenauth noted that in 1950, the median home price was $7,400. With 20% down, the mortgage amount would be $5,920, requiring…
