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The Double Comma Club

Education Podcasts

Building wealth through real estate hosted by Nicole Rueth of The Rueth Team in Colorado

Location:

United States

Description:

Building wealth through real estate hosted by Nicole Rueth of The Rueth Team in Colorado

Language:

English

Contact:

303-214-6393


Episodes

How You Can Find and Benefit from an Assumable Loan

11/18/2022
Are you looking to purchase a home today, but wish you could have gotten a lower rate on your loan? Well, what if I were to tell you that even though market rates today are hovering around 7%, you can still purchase a home with a 3.5% interest rate or even lower intrigued? Stick around as I go through how that's a very real possibility for today's buyers. I want to quickly answer these top four questions I get asked all the time. Listen for the details and how an assumable loan can benefit buyers and sellers. What is an assumable loan? Is the contract written differently? How do you know a house has an assumable loan and how do you find them? And then how do you actually acquire it? Example: If I'm a buyer and I bought a house 10 years ago, and at that time I bought that house for $300,000, I put no money down, I got a VA loan and I got a fantastic interest rate. Whatever that rate was, we'll call it 3%. So I got a $300,000 loan, a 3% with a VA loan, no money down. Now, fast forward 10 years. Now I'm a seller, and as a seller, I have a loan and I want to sell that home for $500,000. And I had this original loan at $300,000. I paid it down for the last 10 years. So maybe today it has a balance of $250,000. That $250,000 still has an interest rate tied to it at 3%, and I still have 20 years left on my loan. As a seller, I then have the option to market an assumable loan, meaning a buyer has the option to purchase my home, keeping that loan intact. Now, if I want to sell that home for $500,000 and my loan is $250,000, that implies that the buyer has to either get a loan for the difference, has to have the cash for the difference, and that's something that we're going to talk about when we talk about how to acquire the loan. But the basics of an assumable loan is the terms around that loan stay in place. They simply get transferred from the current seller to the new would-be buyer.

Duration:00:06:33

PPI Numbers Explained: Is Inflation Finally Slowing Down?

11/16/2022
The cost of borrowing of a business, borrowing funds is still going up trying to slow down the spending that Americans and businesses are doing to inflict pain, right? We talked about this, that the Fed is trying to inflict pain. The Fed is trying to slow the roll to just slow down demand, slow down buying and allow supply chains to catch back up again. The cost of everything is just not going to drop like a rock, but it's going to slowly get there where the cost of the things that we experience at the gas station, at the grocery store are going to start coming back to Earth, right? So let me point out a couple things. So the cost of shipping; shippers have already said that they expect to realize a benefit in lower costs early 2023. So we're seeing these indexes that some of the things that's costing them, like the cost of gas is less? Some of their expenses are less. They're expecting that cost to then be passed on to the wholesalers, which will be measured in the PPI early 2023. Again, nothing happens overnight, but check out this drop. We saw 4.9% drop month-over-month, which dropped the annual percentage from 21% in September to 11% in October. Now that's a big drop given where we had been because we had seen it much higher than that, even upwards of 21%. So to see that kind of annual growth coming down tells you that the shippers are going to start passing on lower costs to the producers and the wholesalers and those wholesalers. We saw the PPI came out this morning and it dropped from an 8.4% annualized to an 8% annualized. It was expected to come out at 8.3%. The month-over-month was only 0.2% and that was expected to be 0.4%. So all of that is showing that the annual is coming down because the month-over-month increase is slowing down. So the shipping is costing a little bit less. The cost of shipping, of getting the products from the ports to the fact or to the warehouses. That shipping cost is costing less. The wholesalers, their cost of goods, their cost of acquiring that product to then turn into the consumer based product. So that wholesale price is coming down. We saw on Thursday's report, the CPI came down, it was expected to have a month over month of double what it actually had. The value and the equity that we have in our homes is abundant, even if it comes down slightly based on our expectation of our equity over the last two years. We are still strong in equity. We're strong in savings. Many of us, many us still have jobs. There's still job openings. GDP is expected to be positive this fourth quarter, which says that the economy is still churning and people are still buying all of these things way towards a strong economy, which is where I'm going to land. This plane also lands to a very strong real estate market. Listen to this full episode. The summary is That's it. That's what it comes down to is the balance of supply and demand.

Duration:00:13:55

Can I Buy Down My Interest Rate?

11/11/2022
Seller Concessions and Rate Buydown Explained Let's walk through how you can actually buy down your interest rate! You can save hundreds, if not thousands of dollars by buying down your interest rate. But, there are some limitations to how much seller concessions you can receive, based on your loan and down payment. Let's also walk through the numbers of buying down your interest rate. Today we're talking about a permanent buy down or really even any kind of seller concession and a limitation on the amount that you can get in order to buy that rate down. For conventional loans, whether you're buying it as a primary home or a second home, we're going talk about investments. With a primary home or second home, it depends on how much money you're putting down. So when you are putting down less, you can get less of a seller credit to help give you that rate. Buy down advantage. Let's talk through some of those numbers. Listen to this 5 minute episode of The Double Comma Club, "Can I Buy Down My Interest Rate?" ----more---- Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth LinkedIn: https://www.linkedin.com/company/theruethteam YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw

Duration:00:04:03

First-Time Homebuyer Advantages in Today’s Market

11/9/2022
What does a first time home buyer today have that they haven't had for the last two years and might not have next year? The benefits of being a first-time homebuyer in today's real estate market are PLENTIFUL. In this episode I talk about some first-time homebuyer loan programs and opportunities to take advantage of... including getting a lower interest rate! Buyers today can still get a great deal! Let's go through the loan programs first, then the opportunities. Veterans you have by far, the best loan program on the planet, the VA loan with zero down the low interest rates. No mortgage insurance is by far the most stellar opportunity to get into a home. If you are a veteran, you should be exercising that option right now because you haven't had it for the last two years because it was so intense. The USDA is the way for the non-veteran to get in with zero money down. Now, you're going to have an upfront fee, but the monthly mortgage insurance is lower than any other program. So the USDA loan is a fabulous program to bring families out to rural areas to buy single family homes with no money down. Down Payment Assistance. This is a tool that has been underutilized for the last several years, and the reason why is because sellers weren't accepting it. They didn't have to. Buyers were coming in with cash or 20%, 30%, 50% down. Sellers were looking for conventional or a cash buyer with more money. Down. Down payment assistance is for those home buyers looking to expand their opportunity to financial wealth and health through real estate. It is an opportunity to get in when you might not otherwise do so. Now, I will say with a word of caution, if you are using a down payment assistance program and putting no money down or the USDA or the VA, and we see slight pullback still on our home values when you buy a home, it could be that the value of that home goes down slightly before it picks back up again. You can buy a two, three, or four unit property as long as you're going to live in one of the units with as little as 5% down if your income is less than 80% of the area median income. A Freddie Mac loan. In the Denver market, it got very hard to qualify based on the income requirement, the 80%. So we would look for those underserved areas and we would purchase multi units in those areas. Well, Freddie Mac did away with focusing on or excluding those areas from the income requirements, and they just said, You have to fall within the income requirements. To hear the rest of the options and opportunities, listen to this episode of The Double Comma Club, "First-Time Homebuyer Advantages in Today's Market."

Duration:00:23:30

Housing Today Comes Down to These Things

11/4/2022
As we continue to see FED rate increases to slow the economy, we are starting to feel the fear, and it all comes with a price. The price is fear, instability, and job loss. Which in turn creates volatility as markets react to economic reports without the stabilization of a Federal Reserve buying mortgaged-backed securities and treasuries. But, I want to break housing down into four buckets this month: supply, demand, affordability, and credit availability. The housing sector is strong, well-funded and able to withstand short-term volatility. While critics continue to generate fear around instability, crisis, bubbles, foreclosures, and more, our job as real estate professionals is simply to support reality with facts. Listen to your DMAR November Denver Real Estate Market Update!

Duration:00:11:04

Eight Home Buying Myths

11/2/2022
Nicole has had a lot of conversations with first-time home buyers making assumptions that aren't correct. So that's what we're talking about today. She is busting eight home-buying myths. Nicole goes through the myth, misplaced logic, and the truth about home buying. There are a couple of them that may really surprise you about being debt-free before you buy, and shopping for the lowest rate to determine your lender. Listen to this episode of The Double Comma Club, "Eight Home Buying Myths." 1. You must put 20% down to buy a home. 2. It's cheaper to rent than to buy. 3. It's cheaper to buy a fixer-upper. 4. You need to be debt-free to purchase a home. 5. All lenders are the same. 6. You should go with the lowest rate. 7. Spring is the best time to buy. 8. Find the home before applying for the loan.

Duration:00:20:10

What Are Seller Concessions?

10/28/2022
what is a seller concession? I mean, that's kinda like a dinosaur these days. I haven't seen one of those in several years. So a seller concession is when they agree to provide funds that support the buyer during the transaction. You can bump into a seller concession several times throughout the transaction. Usually, it's in the beginning. A buyer might use a negotiating tactic that says, I'll pay full price, but I'm gonna ask the seller to pay for all of my closing costs and my prepaids allowing me to come to the table with less cash down. They might also negotiate a price reduction in addition to a seller concession. Those are two separate items and can be used in conjunction or separate from one another. A seller concession can also show up during the inspection period where you might choose to not have something fixed, but inline, get money back from the seller again towards prepaids and closing costs or a price reduction. So there's sometimes a conversation right now about a two one buy down or a rate reduction, and that might be a seller concession. I wanna double click on that because a seller concession can only be used towards a fires prepaids and closing costs. There are limits to what a seller can provide, both per the loan that the buyer uses. Learn why it's exciting for buyers for the return of seller concessions in this episode of The Double Comma Club, "What Are Seller Concessions?"

Duration:00:05:37

Discussing the Current Real Estate Market Landscape

10/26/2022
The Froth is Off The Top from the recent history of waking up one day and saying, "You know what I would like to have, I would like to have a backyard with a water feature. There's one down the street, so I'm gonna go buy that one." It depends on who you are and what your goals are and what your finances look like. And that's always the case. I mean, there was in 2021, it wasn't the right time for some people to buy. They just couldn't compete. And so it's really, right now, if you still have the baseline motivations, you want a home for your family, you need to be in a specific school district. You don't wanna be moving your kids every couple of years if your lease is up on your rental and you maybe can't be in the same school district. You wanna have a sense of community, you wanna have a sense of safety. You need home offices and backyards and you have a dog that digs holes and you just can't get a rental. There's things about our lifestyle that are always true regardless of what the market looks like. And when you are at a point and you're ready to buy a house, you just deal with the market that exists when you're ready. And that market is different all the time. And we all like to think we can time the market and I'm gonna buy at the bottom. Well, when you buy at the bottom, it looks like this where we have high interest rates and market volatility and nobody likes that either. So there's always nuances to what that market looks like and how it impacts each person differently. Listen as Nicole's guest, Amanda Snitker weighs the variations of how this market is affecting people depending on wherre they are in their current lifestyle and needs. ----more---- Find Amanda here: https://amandasnitker.com/ About Amanda: Amanda Snitker has been a Colorado resident for more than 20 years and has lived in the Denver metro area since 2002. She has enjoyed living in the Baker Historic Neighborhood while owning a home built in the early 1900s. Amanda is a third-generation realtor and grew up with a father as a general residential contractor these relationships and knowledge have allowed her to live the Colorado lifestyle, offering credibility and expertise for the process of buying and selling homes to help her clients achieve their dream living experience.

Duration:00:23:22

Focus On the Payment, Our Economy Works In Cycles

10/19/2022
I want to talk about interest. I want to make this all about what's going on with the fear around interest rates. When are they going to come back down? That's a huge question right now, and I'm bringing it up because I'm getting asked that a lot. I was on a Market Trends committee meeting yesterday with DMAR and that also became a debate, whether it was going to be eight months or 24 months from now before we see some sort of drop in interest rates. We have experts on Housing Wire and on Fannie Mae, Freddie Mac and NAR, all confessing some predictions about interest rates. The Federal Reserve has a single mandate at this time. They are typically a two-mandate agency working on the things that people purchase, the price that people purchase things at, which is really inflation controlling the price that Americans pay for the products they buy. And then the second thing is providing a space where those people who want to work can find jobs. This is keeping unemployment low and keeping inflation low. Right now we've got a lot of wage inflation, which is driving up our overall inflation, our core inflation if you will. We've got headline and we've got core, and I'm really talking and focusing on core because headline right now is coming down because gasoline is coming down, but core is staying strong. So as I'm looking at interest rates over the next two to three quarters, I'm really watching employment, specifically unemployment, because when unemployment starts to go up, the feds measure right now, their target is 4.4. Headline inflation一commonly known as the CPI一includes more volatile food and energy price data, whereas the core inflation index excludes it. Headline inflation is better, but core is concerning. There are still core components to inflation that are holding on. The biggest one is wages. The Fed wants to calm wages, they want people lose their jobs and go get another job for less money. They want people to stay unemployed for a short period of time to stop spending. They need demand and supply to come back in check that is going to control inflation and allow it to drop back down again, which is going to help our bonds and our interest rates. It hinges on employment. I still believe that we're not in a recession yet. We're seeing manufacturing slowing down. We're seeing unemployment that went the wrong way. Unemployment has to go up all the things. That is why I think we're going to see interest rates dip at the end of next spring. Listen to the full episode for more details on this logic and insight from Nicole in this episode of The Double Comma Club, "Focus On the Payment, Our Economy Works In Cycles."

Duration:00:14:22

3 Ways to Get Rid of Your Mortgage Insurance

10/14/2022
Listen to this 4-minute episode with 3 quick tips on how to get rid of your mortgage insurance. It depends on the type of loan, and the current value of your home. But this episode is filled with good news in "3 Ways to Get Rid of Your Mortgage Insurance." 1. Call your servicer to talk about what you just heard in this epsiode. 2. If you can't reach them, reach out to Nicole Rueth at The Rueth Team 303-214-6393 nrueth@theruethteam.com

Duration:00:04:32

Using Current Market Volatility To Your Advantage

10/12/2022
So you finally got in, but the rate is five, five and a half, six, seven. The down payment assistance is seven, seven and a half. And all of a sudden, it doesn't seem fair, but it's still locked in, right? It's still your mortgage payment that you can count on that isn't going to go up any further. And if anything go down because interest rates will go down. But when, so housing, it's a lock against inflation. I can rent out a room because there are a lot of people who can't afford to buy. Could I give them access? I just had to purchase a home. I used a 7% interest rate. My payment's a little bit tighter than I would've liked. I'm going to rent out rooms, or I'm going to lock off the basement that might have stairs, and I can create a little kitchenette and create a little lounge area. Some people are, whether they're doing a hobby, whether they're laying low, they're not going traveling, they just need extra space to do their craft, whatever that is. Or storage, maybe they had to downsize. I've got friends that rent out their garages, right? Can we get creative to offset? You can do that with a home. You can do that with something you own. Not only can you make it your own, but you can also build it out; you can finish it out. You can create a space where you can then create income. The home has a multitude of positives. It has two negatives right now. The interest rates today and home price is going up. Let's talk about those two interest rates today. Where do I think interest rates are going to go? I think we are going to have a volatile last quarter and could be a volatile first quarter of 2023. Many of the economists in the large banks are all thinking that we have not entered into a recession yet. That we might be in one today, but we will start to see a recession where people aren't traveling, aren't going out to eat, aren't paying for services, aren't still spending, and our consumer spending is still up. So if people stop spending, we will head into a recession. If you go back historically, during recessionary periods, interest rates go down, and in fact, homes appreciate minus one back in 1960 when they didn't. I'm not talking about inflation adjusted, I'm talking about HPI home price indexes appreciate in recessionary periods because those interest rates come down. Where do I think interest rates are going to go? Listen to this episode of The Double Comma Club, "Using Current Market Volatility To Your Advantage" to find out.

Duration:00:23:30

Interest Rates are Below 5% Again

10/7/2022
After July's momentary celebration of 5% interest rates, August ended the month at six, then September just finished having crossed 7%. Only a few months ago, six and a quarter seemed like the absolute ceiling as the US continued its strong stance against the slowing global economy, but that didn't last. We saw European economies bear the brunt of Russia's war on Ukraine. Japan struggling with lower global demand for its manufactured goods and China's economic troubles thanks to its zero Covid policy. All of these strengthen the dollar while creating credible volatility for our mortgage bonds. The fight here in the United States is the fight against inflation. For the last few years, we've seen too many dollars chasing too few goods, pushing the price of those goods up as demand spiked. The Federal Reserve's job now is to constrain the dollar spent. Think about this. 28% of all goods purchased are done with a credit card that doesn't even include car loans, home loans, or business loans. Buying on credit creates money, future money pulled forward, giving you access to a product or service today for payment in the future. For the Fed to control spending, they have to make the cost of borrowing higher, so it creates more pain. At the same time, the benefit of savings has also gone up as the Fed raised its Fed rate or overnight rate. So goes the one-year treasury. The safest of all investments is backed by the federal government. This rate is 4.01% today, which is significantly higher than the long-term average of 2.85% and will increase further after November 2nd. Listen to the rest of this summary.

Duration:00:08:08

Why a Real Estate Slowdown Is Not a Loss

10/5/2022
The Denver Real Estate Market is still up in price growth. In September, we saw a year-to-date price growth of 12.8%. I get this isn't the 21% increase Y.O.Y we saw in March, but IT IS STILL UP. We have to recognize that a real estate market slowdown does not mean a loss in value, it just means a shift in perspective. In this episode we take a look at the Denver Real Estate Market price growth and what it means for buyers and sellers. ----more---- Nicole Rueth The Rueth Team Powered by OneTrust Home Loans 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth LinkedIn: https://www.linkedin.com/company/theruethteam YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw CalCon Mutual Mortgage LLC, dba OneTrust Home Loans is an Equal Housing Lender NMLS #46375; 3131 Camino Del Rio North Suite 1680, San Diego, CA 92108. Corporate phone (888) 488-3807. For more licensing information, visit https://onetrusthomeloans.com/licensing-information/. This information is to inform the real estate industry only and is not to be provided to consumers. All products are not available in all states. All options are not available on all programs. All programs are subject to borrower and property qualifications. Rates, terms, and conditions are subject to change without notice.

Duration:00:18:06

Should I build a home instead of buying a home?

9/29/2022
Just because you want a different house doesn't mean you have to wait for the perfect deal in the perfect area to become available. You can, instead, create the home of your dreams, even if it's your first home, a starter home that you will sell later. You can build a home instead of waiting. With home prices climbing and very limited inventory on the market, it may be more difficult to find your perfect home. So, why not just build it? The Rueth Team has new Land and Construction Loans so you can skip the house hunting and build your dream home. Land and construction loans are not only a great option for Primary homes, but for Second Home and Investment Properties as well. There are several loan product options that grant you stability in your rate, while giving you the opportunity to create a home for your family you know you'll enjoy for years to come. ----more---- Nicole Rueth The Rueth Team Powered by OneTrust Home Loans 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth LinkedIn: https://www.linkedin.com/company/theruethteam YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw CalCon Mutual Mortgage LLC, dba OneTrust Home Loans is an Equal Housing Lender NMLS #46375; 3131 Camino Del Rio North Suite 1680, San Diego, CA 92108. Corporate phone (888) 488-3807. For more licensing information visit https://onetrusthomeloans.com/licensing-information/. This information is to inform the real estate industry only and is not to be provided to consumers. All products are not available in all states. All options are not available on all programs. All programs are subject to borrower and property qualifications. Rates, terms, and conditions are subject to change without notice.

Duration:00:02:57

How Does the Global Market Movement Influence the US Real Estate Market?

9/28/2022
So while we were sleeping, we were seeing the European bonds were selling off, which we opened up Monday morning to this bond selloff here in the United States, dropping the bond prices and raising our interest rates. Powell was just in Switzerland trying to speak to the Switzerland bank and convince them that he's got everything under control. I'm gonna debate that right now. I think they were a little late to the party. It's starting to become habitual that he's not really forecasting what's happening because he's looking at metrics that are passed. He's primarily looking at unemployment, which isn't a leading indicator. It's a lagging indicator. He's looking at inflation, which is also looking backward. If you also look at the CPI numbers, the inflation numbers that we're comparing year-over-year inflation to, we're going to start seeing inflation slow down again second quarter next year. And that's because of comparison inflation rates right now we're very low last year, so we're replacing them with high numbers. We're replacing really low numbers and that's keeping inflation high. As those numbers increased last year, that comparison rate is now becoming more in line. We'll start to see that happening in October. So if rates are at seven or above seven depending on, we are seeing a little bit of the bond market revert back from its extreme yesterday. It's like, oh wait a minute, that was the European market that set our markets on fire. It wasn't even anything in the United States. It was a sell-off of bonds in Europe that caused our bond market sell-off the next morning Monday morning. So Powell goes through all of these conversations to say during the last Fed meeting, "I'm going to define what I want to see in a housing correction." A housing correction includes two things from his perspective, those two things are increased housing supply and decreased housing demand. Come on, that was a given. Listen to this complete episode, "How Does the Global Market Movement Influence the US Real Estate Market." ----more---- Nicole Rueth The Rueth Team Powered by OneTrust Home Loans 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth LinkedIn: https://www.linkedin.com/company/theruethteam/ YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw CalCon Mutual Mortgage LLC, dba OneTrust Home Loans is an Equal Housing Lender NMLS #46375; 3131 Camino Del Rio North Suite 1680, San Diego, CA 92108. Corporate phone (888) 488-3807. For more licensing information visit https://onetrusthomeloans.com/licensing-information. This information is to inform the real estate industry only and is not to be provided to consumers. All products are not available in all states. All options are not available on all programs. All programs are subject to borrower and property qualifications. Rates, terms, and conditions are subject to change without notice.

Duration:00:21:06

Can the Recession Just Get Here?

9/22/2022
Are we in a recession? Can the recession just get here?! We have been talking about the looming recession long enough, and I'm ready for it to happen so we can just move on! It seems like the more we continue talking about a recession, the scarier it gets for consumers! Unfortunately, we still aren't there yet. We know that it's coming as the FED continues to take big action to control inflation and stop consumer spending. BUT HOW MUCH LONGER? BONUS #SHORTS What's My Interest Rate? The question Nicole is asked more than just about any other. The answer usually starts out the same, "It depends..." Nicole Rueth The Rueth Team Powered by OneTrust Home Loans 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth LinkedIn: https://www.linkedin.com/company/theruethteam YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw CalCon Mutual Mortgage LLC, dba OneTrust Home Loans is an Equal Housing Lender NMLS #46375; 3131 Camino Del Rio North Suite 1680, San Diego, CA 92108. Corporate phone (888) 488-3807. For more licensing information visit https://onetrusthomeloans.com/licensing-information/. This information is to inform the real estate industry only and is not to be provided to consumers. All products are not available in all states. All options are not available on all programs. All programs are subject to borrower and property qualifications. Rates, terms, and conditions are subject to change without notice.

Duration:00:04:49

Four Reasons Real Estate Just Picked Up Again

9/20/2022
What is happening with interest rates? Realtors' businesses are picking up steam, even though we know rates are ticking up. The 10-yr Treasury just hit a high since 2011 (3.51%), and Sweden just raised their bank rate by 100BPS last night! As the FED gears up to meet again and controlling inflation remains top of mind, they've got a .75-1% FED rate increase on the table. We know the recession is coming, and the FED is trying to fast-track it so that consumers will finally stop spending! But if realtors are seeing a pick-up and are anticipating a solid October, WHY? The text number is 855-930-0377. Text UPDATE to be added to the list Some of what you'll learn in this 18-minute episode includes: "If I purchase a median home last month in August, the median DMAR 11-county area home price was $579,900. I buy a $579,900 home with 5% down, I'm putting down $28,995. If I get a 6% interest rate and I get a 3.8% appreciation because that's what Core Logic is expecting that we're going to see for the next year forward, 3.8%, not the crazy double digits that we've seen. Historically before the pandemic, the United States appreciated 3.6%. So we're returning back to normal. So if I have a 3.8% appreciation in five years, I have a gain. If that stays consistent with principal reduction every single year, knocking down my loan amount and a little bit an increase in value of 3.8% because I only put a limited number amount down and the power of leverage. I have the opportunity of that entire home value going up at the purchase price, not my down payment. That's going to give me a net worth of $161,000. I can't make that in the stock market in the next five years, unless your chooser is spot on because mine's broken. I can't make $161,000 in the next five years. And even if we see a dip and a slowdown, which again, because we have so limited supply, but even if the whole secret is don't sell, don't sell. Hold on through the dip and for the next five years. And that's where you're going to regain this opportunity. In fact, year one with a 3.8% appreciation and the principal reduction based on a 6% interest rate, I actually make a 102% on my down payment. I put down $28,995. I'm going to net out in equity gain $29,588. That's just math, right? That's not a motion. That's just math."

Duration:00:16:50

What Are Your Responsibilities as a Co-Signer on a Mortgage?

9/15/2022
Co-Signing can be an excellent option for increasing borrower qualifications and eligibility. But, it's also a big commitment that shouldn't be entered into without full knowledge of the responsibilities. Here's a breakdown of the responsibilities a co-signer carries and how a co-signer can later be removed from a loan. ----more---- Nicole Rueth The Rueth Team Powered by OneTrust Home Loans 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth LinkedIn: https://www.linkedin.com/company/theruethteam YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw CalCon Mutual Mortgage LLC, dba OneTrust Home Loans is an Equal Housing Lender NMLS #46375; 3131 Camino Del Rio North Suite 1680, San Diego, CA 92108. Corporate phone (888) 488-3807. For more licensing information, visit https://onetrusthomeloans.com/licensing-information/. This information is to inform the real estate industry only and is not to be provided to consumers. All products are not available in all states. All options are not available on all programs. All programs are subject to borrower and property qualifications. Rates, terms, and conditions are subject to change without notice.

Duration:00:04:02

Conforming Home Loan Limit Increasing to $715,000

9/14/2022
There's good news for homebuyers! I understand that affordability is being put to the test. We just saw a 44% increase in prices and a 3% increase in interest rates. We also just saw the new conforming loan limit increase to $715,000! This is HUGE! The current conforming loan limit is $647,200, meaning those homebuyers that might not qualify for a jumbo loan or need a quicker close now have the means to make it happen! Much more of the market now falls within this conforming loan limit. Along with the good news, there is some bad news. Inventory is decreasing. But let's not panic. This is seasonal. It typically starts to turn the corner in October, but we saw that much earlier with the rise in interest rates. The opportunity for homebuyers is less demand and a higher conforming loan limit. ----more---- An excerpt from this episode: So the good news for home buyers today is the ability that we do still have a decent amount of inventory today that will shrink as we head towards the end of the year. And we're going to see things change. As we see the economy go into a recession and as we see interest rates possibly stabilize and, or even go down later into 2023, as we do enter into a recession, we could see that demand pick up again, putting pressure on limited inventory and increasing home prices even further. But people keep talking about this bust. What is happening around real estate? Are we in a recession? Lawrence June said that we're in a housing recession because we've seen six months of existing home sales down; NAHB, the home builders association, is saying that we're in a housing recession because they're seeing their permits and starts down. Completions are up as they're rolling off inventory. So bad news, bad news is this inventory because as much as people are talking about a housing bubble or bust or decrease in prices, yes, we are seeing home prices. 40% of them coming off their original asking before they sell, becoming more realistic on their opportunities to sell that home, right? Not for what their neighbors sold for two months ago, but for what the market is calling for today, while we're seeing home sellers, reducing prices, we are not seeing loss in value. We are seeing those values come back in line, back towards our historic numbers. Do you know that the historical average of appreciation nationwide is 3.6%? Our average price growth here in the DMAR Metro is 6%. We've been well above that for a long time. We just put out a post yesterday that talked about the fact that even if I have a 3.9%, which is what it ticked up to 3.6 to 3.9 after 20 twenty's appreciation even higher than that after 2021. But even if we saw a 3.9% historical appreciation for the next five years, we're still talking about equity growth for homeowners over the next five years of close to $150,000 real estate is a long-term play. It is an equity opportunity that continues to be around. Knowing that short term, we've got a little opportunity to buyers to get in with a higher loan limit, to squeeze in with more inspection items possibly on that objection, right? Getting it at or below is good news for home buyers. Affordability is obviously the bad news for home buyers, but homeowners continue to have the best news. Unless you have a homeowner who's looking to sell and wants top dollar, the top dollar they could have gotten in April and don't wanna become more realistic about what the numbers look like today. That might be bad news for home sellers, but homeowners have nothing but equity gains. Nicole Rueth The Rueth Team Powered by OneTrust Home Loans 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth Linkedin: https://www.linkedin.com/company/theruethteam YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw CalCon Mutual Mortgage LLC, dba OneTrust...

Duration:00:13:49

DMAR Sept 2022 Homeowners Have the Upperhand

9/7/2022
Historically the best forecasters have been able to consistently recognize that we are in a recession. Once we are actually in one to preemptively determine its onset has riddled economists for decades. Yet, an AR is Lawrence soon called a recession in August when he said, "In terms of economic impact, we are surely in a housing recession." A recession is defined by Oxford is a period of temporary economic decline during which trade and industrial activity are reduced. This is generally defined by a fall in GDP for two consecutive quarters. This definition has then been further clarified by the National Bureau of Economic Research to a significant decline in economic activity. The slowing has come primarily from the rapid rise of mortgage interest rates increasing the monthly cost to purchase August saw more than its share of volatility. Think of a child you've been giving Tootsie Rolls to for over an hour to keep him quiet during your very important meeting. How justified is the pain that child ensues as he works his way off the sugar rush? Justified or not, inflation must be tamed, and it will cause pain, but that pain is relative. It's relative to the specific household and the specific industry. ADP's August employment report also showed pay increases nationwide for those who stayed on their job by 7.6%, and up for 16.1%; for those who got new jobs, consumer sentiment even increased this month by 13% due to a 59% surge in the year ahead. Outlook for the economy? Consumers are feeling good about inflation, getting tamed jobs secured and a quick economic recovery. All of this comes back to defining a housing recession. Lawrence said it best, "It is a difficult market for those selling homes and for home builders. But homeowners continue to accumulate housing wealth from rising home prices." I will concede through the definition of a housing recession by slowing the sales cycle, but with builders, not building, homeowners locked into rates not likely to be seen again, and baby boomers aging in place, inventory will not right size for a very long time. If ever this lack of inventory will keep home prices increasing over 27 trillion in homeowner, equity will keep homeowners from having to sell at a loss wage increases will keep buyers able to purchase. This is Nicole Ruth with The Rueth Team, now the proud and excited newest member of the OneTrust Home Loans, family. It's my pleasure to keep you updated. Listen to the full 9-minute episode to get more detailed comparisons and statistics.

Duration:00:08:34