The Double Comma Club

The Double Comma Club

Building wealth through real estate hosted by Nicole Rueth

Episodes

August 10, 2022 5 min

What's Next for the Housing Market? Is it BOOM OR GLOOM? We've experienced an incredibly volatile housing market over the last two years. It was full of huge equity gains, rising home prices, and little inventory. So, what's next for the housing market?!

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 episod...

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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 doe...

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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, "Late...

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1. Lock and Shop This is where you can hold the rate for 90 days, with the option to extend it for 30 more while you are under contract. If rates go up, you are locked in, if they go down, we can renegotiate the rate.

2. TBD Underwrite This goes hand in hand with Lock and Shop. We gather all of your information, submit it to an underwriter, and then you can be fully underwritten and are viewed as being the same as a cash offer. Som...

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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!

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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 kn...

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I know higher interest rates are stressing affordability and pushing buyers to sit on the fence. But, what if I told you that a higher rate could actually SAVE CLIENTS' MONEY? You'd probably think it's a trick! But it's not, it's perspective.

You are marrying the house,   but you are dating the rates.

*CORRECTION... The comparison rate used in my calculation from March of 2021 with the $675,000 loan amount was ...

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July 13, 2022 21 min

Fed Chair Powell stated the Fed is creating a "bridge period" of "demand exhaustion".   This is being interpreted as the Federal Reserve is killing the housing market.  I get it.  But what I see is first-time home buyers getting the reset, the break they've been needing and asking for.  Plus, with the housing market as strong as it is... it's hard to justify a bust coming. I guess it's all how you look a...

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Inventory exceeded demand in June for the first time since the same month in 2020. Spiking 94% year-over-year and 66% month-over-month.  Price reductions, according to Redfin, increased to 40% of homes on the market in Denver.  If the story ended there, it might concern me.  Sellers flooding the market giving homes away at discounted prices. But the story is much different than that.  June ended the first half of a transitional 202...

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There's so much strength and opportunity in our housing market today, but many buyers are still struggling to get in. Home prices are going up, along with rents, and interest rates remain in flux. But, you can't time the market! Purchasing a home is a big commitment, but buyers have to be able to see the long-term benefits that come with home ownership. Three ways YOU can get into the market TODAY are: 1) Down Payment Assis...

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🔥🔥🔥 Rates Down, Inventory Up, Holiday Weekend... GO TIME! The 10-year treasury surprised me this morning.

Listen to this and you will have 5 options of how to take advantage of the sudden drop in interest before the wave goes back up.

Call Nicole Rueth ASAP to take advantage. She's here all day because SHE LOVES these opportunities.

Nicole Rueth The Rueth Team of Fairway Independent Mortgage Corporation...

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June 30, 2022 13 min

This is a really detailed episode about a new interactive software tool. Nicole explains here. At the end of this post you will have a link for the interactive view of this tool she discusses. Here's a bit of what is covered in this episode.

Interest rates and home prices have gone up. We know that. And not only is it a question of affordability, but now it's also a buyer's discernment on whether or not that home or buy...

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Now I know there have been headlines that the average rent in Denver has gone over $2000. It really just depends on what survey you're looking at. Either way, rents continue to go up. That's not going to slow down. As investors are paying more for their properties, they're going to be renting out for more. And those investors that bought properties 10, 20, 30 years ago are going keep up with the market rent. Ashleigh Gu...

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These three shorts give a quick explanation and ways you can reduce your debt-to-income ratio. This episode covers: What is Debt to Income Ratio?, What are the debts included in your DTI?, and How to Optimize Your DTI.

We hope you find these quick explanations and suggestions helpful.

They go great with the longer episodes here:

What You Need to Know About Debt to Income Ratio Why is Debt to Income Ratio Important When Buying a Hom...
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You can get an appraisal waiver and you can have an appraisal waiver. I wanna give everyone an appraisal waiver. It just doesn't quite work like that. Of course, there's a lot of talk about getting appraisal waivers, especially in a competitive market like today. So what is an appraisal waiver and what do you get to do once you have one? An appraisal waiver is something that's given by an automated underwriting system b...

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Strap in, this is a long one! 

Last week the CPI came out not as expected. The percentage doesn't matter as much as the DIRECTION... it went up! This threw the market for a loop. Interest rates did increase and now the headlines are making you believe we are going into depression.

WE ARE STILL IN A STRONG HOUSING MARKET.

The likelihood of massive job loss and massive loss in the stock market is not likely... granted it may fee...

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You can now use the income on an auxiliary dwelling unit to qualify to purchase or rate and term refinance your home. Well, that is a game-changer, especially for people who have an investor's mindset. How can I optimize the home I'm living in? Can I look at buying a two-unit, a three or four-unit, a single-family, a rentable basement?

Well, those auxiliary dwelling units, those separate buildings in the backyard. They were...

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With the Denver market up 123%, since its peak in 2006, we have amazing wealth in equity. How do you tap into that wealth of equity, where you can give a gift of equity to your children, or to other family members? We can transfer wealth through real estate using gifts of equity. So what does that mean? And maybe what are some of the limitations with that? 

Let's say I want to sell a home for market value. That home is $800,000...

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Everybody's starting to look at the fact that more homes are now going are, are reducing their price before sale. I talked about this in the DMAR report that we just did last week in the video talking about the fact that those people that had to do a price reduction were on the market for an average of 28 days. That is a massively long time compared to what we've been feeling and how fast the market has been moving national...

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Months of Inventory for May landed at 0.67% or 20 days.  A balanced market, when supply equals demand, is defined by 6 months of inventory.  Yet, on the street, real estate agents and buyers “feel” like we are headed towards a balanced market.  Close to List came in at 105.33% telling us buyers are still paying more than asking on average.  If you look at over $1 million dollar homes, those went for 107.12% close to list. And media...

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