Real Estate Realities With The RebelBroker

From home insurance to car coverage, insurance companies are deciding to just not do business in California any longer. So what has to happen to force companies to abandon a huge market? Well, despite the headlines, it is not just weather issues and corporate greed. Today, we take a look at the latest news that State Farm decided last week to stop offering home insurance in the state of California and what that will likely mean for homeowners going forward. —————————————————————————————————————————————————— ➡️ Instagram: https://www.instagram.com/rebelbroker/ ➡️ Twitter: https://twitter.com/rebelbroker ➡️ Facebook: https://www.facebook.com/whitelawre/ 🏡 💵 Get Your FREE Home Value Estimate! - https://www.soldbyrobert.com/home-value ☕️ "Coffee And Real Estate" Live Events: https://www.facebook.com/whitelawre/live/ 📰 Subscribe To The Monthly Newsletter: https://soldbyrobert.com/get-the-newsletter 🕵🏻‍♂️ Search For Homes For Sale: https://soldbyrobert.com/homes-for-sale-map-search 👓 Luxury Homes List: https://soldbyrobert.com/listing-report/Luxury-Homes/1371502 💵 Homes Priced Below Average: https://soldbyrobert.com/listing-report/Homes-Priced-Below-Average-In-Morgan-Hill-San-Martin-and-Gilroy/1281392 —————————————————————————————————————————————————— 📚 A case study in how I get better results than other real estate agents or brokerages: https://soldbyrobert.com/2020/08/breaking-every-record-for-my-clients/3444 —————————————————————————————————————————————————— My goal is to share my insights and opinions relating to real estate so that you can make the best possible decisions in achieving your real estate dreams. If you are interested in buying, selling or investing anywhere in Silicon Valley, Morgan Hill, San Martin or Gilroy - I would love an opportunity to discuss with you what I can do to help you get the best outcome possible!

In this thought-provoking episode, we delve into the often overlooked drawbacks of low-income buyers availing themselves of 1% down loans. Today we will specifically be talking about the Rocket Mortgage ONE+ loan program. While these loans may seem appealing on the surface, they can harbor hidden pitfalls that can leave borrowers vulnerable. Join us as we explore the cautionary tales and shed light on the potential downsides of this financing option. Episode Highlights: Understanding 1% Down Loans: We begin by explaining the concept of 1% down loans, which have gained popularity as an attractive option for individuals with limited financial resources. These loans enable borrowers to put down only 1% of the home's purchase price, while the remaining 99% is financed. At first glance, this may seem like an excellent opportunity, but closer examination reveals significant downsides. Even in the case of the Rocket Mortgage 2% grant, these issues remain. Higher Interest Rates and PMI: One of the primary downsides of 1% down loans is the higher interest rates imposed by lenders. Given the increased risk associated with such loans, lenders often compensate by charging higher interest rates. While PMI is typical, at least this is not included in this Rocket Mortgage loan program. Negative Equity and Limited Equity Building: With a mere 1% down payment, buyers are at greater risk of falling into a negative equity situation. In the event of a downturn in the housing market or a decline in property values, borrowers may find themselves owing more on their mortgage than the actual value of the property. This lack of equity also hampers their ability to build wealth through homeownership. Financial Stress and Limited Savings: Low-income buyers who opt for 1% down loans often face increased financial stress. The combination of higher monthly mortgage payments and elevated interest rates leaving little room for savings or unexpected expenses. This lack of financial cushion can make homeownership a precarious endeavor. The Importance of Financial Education: We conclude the episode by stressing the significance of financial education for low-income buyers considering 1% down loans or any other financing options. With proper knowledge and guidance, potential homeowners can make more informed decisions, understand the long-term consequences, and explore alternative routes to affordable homeownership. While 1% down loans may initially appear enticing for low-income buyers, our exploration of their downsides unveils potential risks that should not be overlooked. Higher interest rates, negative equity concerns, limited equity building, and financial stress collectively illustrate the need for caution and thorough understanding. By promoting financial education and exploring alternative options, we can empower low-income buyers to make choices that foster long-term stability and success in their homeownership journey. Links: https://www.rismedia.com/2023/05/22/rocket-mortgage-offers-new-1-percent-down-home-loan-program/https://www.rocketmortgage.com/learn/one-plushttps://www.rocketmortgage.com/learn/down-payment-assistance

Business bankruptcies are up 216% and we are not even half way through 2023 yet! What does this mean for unemployment and the world of real estate? Let's take a minute to chat about all that! —————————————————————————————————————————————————— ➡️ Instagram: https://www.instagram.com/rebelbroker/ ➡️ Twitter: https://twitter.com/rebelbroker ➡️ Facebook: https://www.facebook.com/whitelawre/ 🏡 💵 Get Your FREE Home Value Estimate! - https://www.soldbyrobert.com/sellers-services/property-value-report ☕️ "Coffee And Real Estate" Live Events: https://www.facebook.com/whitelawre/live/ 📰 Subscribe To The Monthly Newsletter: https://soldbyrobert.com/get-the-newsletter 🕵🏻‍♂️ Search For Homes For Sale: https://soldbyrobert.com/homes-for-sale-map-search 👓 Luxury Homes List: https://soldbyrobert.com/listing-report/Luxury-Homes/1371502 💵 Homes Priced Below Average: https://soldbyrobert.com/listing-report/Homes-Priced-Below-Average-In-Morgan-Hill-San-Martin-and-Gilroy/1281392 —————————————————————————————————————————————————— 📚 A case study in how I get better results than other real estate agents or brokerages: https://soldbyrobert.com/2020/08/breaking-every-record-for-my-clients/3444 —————————————————————————————————————————————————— My goal is to share my insights and opinions relating to real estate so that you can make the best possible decisions in achieving your real estate dreams. If you are interested in buying, selling or investing anywhere in Silicon Valley, Morgan Hill, San Martin or Gilroy - I would love an opportunity to discuss with you what I can do to help you get the best outcome possible!

The headlines today sure do seem to be sending out a positive message relating to real estate. Many tell us the great home value drop is over. The most recent numbers prove we are out of the woods. Do they really? In todays show we will take a closer look and see if we should be optimistic or not. —————————————————————————————————————————————————— ➡️ Instagram: https://www.instagram.com/rebelbroker/ ➡️ Twitter: https://twitter.com/rebelbroker ➡️ Facebook: https://www.facebook.com/whitelawre/ 🏡 💵 Get Your FREE Home Value Estimate! - https://www.soldbyrobert.com/sellers-services/property-value-report ☕️ "Coffee And Real Estate" Live Events: https://www.facebook.com/whitelawre/live/ 📰 Subscribe To The Monthly Newsletter: https://soldbyrobert.com/get-the-newsletter 🕵🏻‍♂️ Search For Homes For Sale: https://soldbyrobert.com/homes-for-sale-map-search 👓 Luxury Homes List: https://soldbyrobert.com/listing-report/Luxury-Homes/1371502 💵 Homes Priced Below Average: https://soldbyrobert.com/listing-report/Homes-Priced-Below-Average-In-Morgan-Hill-San-Martin-and-Gilroy/1281392 —————————————————————————————————————————————————— 📚 A case study in how I get better results than other real estate agents or brokerages: https://soldbyrobert.com/2020/08/breaking-every-record-for-my-clients/3444 —————————————————————————————————————————————————— My goal is to share my insights and opinions relating to real estate so that you can make the best possible decisions in achieving your real estate dreams. If you are interested in buying, selling or investing anywhere in Silicon Valley, Morgan Hill, San Martin or Gilroy - I would love an opportunity to discuss with you what I can do to help you get the best outcome possible!

Fasten your seat belt folks, today we get a classice Rebelbroker rant podcast! Let's play pretend for a moment. You find yourself in a situation where you are behind on your property tax payments. You owe $5,000 dollars. One thing leads to another and the state is going to take your property and sell it to pay your tax debt. The state does its thing and sells your home for $500,000. Expecting to get a check for $495,000, you wait patiently at your mailbox for that payment. Surprise! It will never arrive. That's right, the law says that no matter how little you owe, the government gets to keep ALL of the proceeds from the sale of your home! It is all legal and you are screwed. To make it even worse, you later find out that a business was allowed to buy your home for what you owed - $5,000! Of course, the fact that this buyer was a HUGE political contributor to those that decided who gets to buy your home had nothing to do with it. Don't even suggest that crazy conspiracy theory you nutjob! —————————————————————————————————————————————————— ➡️ Instagram: https://www.instagram.com/rebelbroker/ ➡️ Twitter: https://twitter.com/rebelbroker ➡️ Facebook: https://www.facebook.com/whitelawre/ 🏡 💵 Get Your FREE Home Value Estimate! - https://www.soldbyrobert.com/sellers-services/property-value-report ☕️ "Coffee And Real Estate" Live Events: https://www.facebook.com/whitelawre/live/ 📰 Subscribe To The Monthly Newsletter: https://soldbyrobert.com/get-the-newsletter 🕵🏻‍♂️ Search For Homes For Sale: https://soldbyrobert.com/homes-for-sale-map-search 👓 Luxury Homes List: https://soldbyrobert.com/listing-report/Luxury-Homes/1371502 💵 Homes Priced Below Average: https://soldbyrobert.com/listing-report/Homes-Priced-Below-Average-In-Morgan-Hill-San-Martin-and-Gilroy/1281392 —————————————————————————————————————————————————— 📚 A case study in how I get better results than other real estate agents or brokerages: https://soldbyrobert.com/2020/08/breaking-every-record-for-my-clients/3444 —————————————————————————————————————————————————— My goal is to share my insights and opinions relating to real estate so that you can make the best possible decisions in achieving your real estate dreams. If you are interested in buying, selling or investing anywhere in Silicon Valley, Morgan Hill, San Martin or Gilroy - I would love an opportunity to discuss with you what I can do to help you get the best outcome possible!

Are you a responsible borrower? Have you saved diligently for that 20% downpayment on your first home? Did you educate yourself and work toward improving your credit score so that you reached your goal of a score higher than 680? Well, then the FHFA (Federal Housing and Finance Association) would like to take this opportunity to completely screw you over! How will they screw you over? With higher rates and fees! But wait, for those folks who did not save, have a poor credit score and have not managed their financial lives responsibly there will be discounts and incentives! Here are a few past shows related to this topic: https://rebelbroker.libsyn.com/site/subprime-lending-againreally https://rebelbroker.libsyn.com/site/more-subprime-style-shenaniganshttps://rebelbroker.libsyn.com/site/subprime-lending-in-2016 —————————————————————————————————————————————————— ➡️ Instagram: https://www.instagram.com/rebelbroker/ ➡️ Twitter: https://twitter.com/rebelbroker ➡️ Facebook: https://www.facebook.com/whitelawre/ 🏡 💵 Get Your FREE Home Value Estimate! - https://www.soldbyrobert.com/sellers-services/property-value-report ☕️ "Coffee And Real Estate" Live Events: https://www.facebook.com/whitelawre/live/ 📰 Subscribe To The Monthly Newsletter: https://soldbyrobert.com/get-the-newsletter 🕵🏻‍♂️ Search For Homes For Sale: https://soldbyrobert.com/homes-for-sale-map-search 👓 Luxury Homes List: https://soldbyrobert.com/listing-report/Luxury-Homes/1371502 💵 Homes Priced Below Average: https://soldbyrobert.com/listing-report/Homes-Priced-Below-Average-In-Morgan-Hill-San-Martin-and-Gilroy/1281392 —————————————————————————————————————————————————— 📚 A case study in how I get better results than other real estate agents or brokerages: https://soldbyrobert.com/2020/08/breaking-every-record-for-my-clients/3444 —————————————————————————————————————————————————— My goal is to share my insights and opinions relating to real estate so that you can make the best possible decisions in achieving your real estate dreams. If you are interested in buying, selling or investing anywhere in Silicon Valley, Morgan Hill, San Martin or Gilroy - I would love an opportunity to discuss with you what I can do to help you get the best outcome possible!

The media at large seems very excited about FHA loans being able to be adjusted to 40 year terms in cases where the borrower is in a tight spot. But does it make sense to extend the indebtedness of someone that is already in financial trouble? Extending a mortgage out to 40 years takes all the worst elements of a loan and makes them worse. In todays show we are going to discuss this and see if we can cover the issue and come to some conclusions. Links: https://finance.yahoo.com/news/government-policy-could-help-keep-170000286.html

In todays show we will take some time to review the latest buyer and seller sentiment data. We also take some time to consider what the data says about buyers vs what we are seeing buyers actually do in the marketplace. We will also talk a bit about thoughts relating to when to buy and what might be good options relating to taking advantage of the market now in anticipation of interest rates dropping sometime in the next year or two when the Fed starts to reduce interest rates to fight recession. SOURCES: https://www.realtor.com/research/march-2023-hpsi/ —————————————————————————————————————————————————— ➡️ Instagram: https://www.instagram.com/rebelbroker/ ➡️ Twitter: https://twitter.com/rebelbroker ➡️ Facebook: https://www.facebook.com/whitelawre/ 🏡 💵 Get Your FREE Home Value Estimate! - https://www.soldbyrobert.com/sellers-services/property-value-report ☕️ "Coffee And Real Estate" Live Events: https://www.facebook.com/whitelawre/live/ 📰 Subscribe To The Monthly Newsletter: https://soldbyrobert.com/get-the-newsletter 🕵🏻‍♂️ Search For Homes For Sale: https://soldbyrobert.com/homes-for-sale-map-search 👓 Luxury Homes List: https://soldbyrobert.com/listing-report/Luxury-Homes/1371502 💵 Homes Priced Below Average: https://soldbyrobert.com/listing-report/Homes-Priced-Below-Average-In-Morgan-Hill-San-Martin-and-Gilroy/1281392 —————————————————————————————————————————————————— 📚 A case study in how I get better results than other real estate agents or brokerages: https://soldbyrobert.com/2020/08/breaking-every-record-for-my-clients/3444 —————————————————————————————————————————————————— My goal is to share my insights and opinions relating to real estate so that you can make the best possible decisions in achieving your real estate dreams. If you are interested in buying, selling or investing anywhere in Silicon Valley, Morgan Hill, San Martin or Gilroy - I would love an opportunity to discuss with you what I can do to help you get the best outcome possible!

If you think of predatory lending as any borrowing scenario that has a high probability of causing issues for the borrower, I think that there is a good chance we should chat about the "California Dream For All" loan program from CalHFA (California Housing Finance Agency). Schemes like this are predicated on the idea that the price of real estate will continue to rise. As we all know, that is not always true. During the last downturn, nothing was more saddening than trying to help people who had tried to take advantage of these programs and been left completely upside down and being forced into bankruptcy and short sales. —————————————————————————————————————————————————— ➡️ Instagram: https://www.instagram.com/rebelbroker/ ➡️ Twitter: https://twitter.com/rebelbroker ➡️ Facebook: https://www.facebook.com/whitelawre/ 🏡 💵 Get Your FREE Home Value Estimate! - https://www.soldbyrobert.com/sellers-services/property-value-report ☕️ "Coffee And Real Estate" Live Events: https://www.facebook.com/whitelawre/live/ 📰 Subscribe To The Monthly Newsletter: https://soldbyrobert.com/get-the-newsletter 🕵🏻‍♂️ Search For Homes For Sale: https://soldbyrobert.com/homes-for-sale-map-search 👓 Luxury Homes List: https://soldbyrobert.com/listing-report/Luxury-Homes/1371502 💵 Homes Priced Below Average: https://soldbyrobert.com/listing-report/Homes-Priced-Below-Average-In-Morgan-Hill-San-Martin-and-Gilroy/1281392 —————————————————————————————————————————————————— 📚 A case study in how I get better results than other real estate agents or brokerages: https://soldbyrobert.com/2020/08/breaking-every-record-for-my-clients/3444 —————————————————————————————————————————————————— My goal is to share my insights and opinions relating to real estate so that you can make the best possible decisions in achieving your real estate dreams. If you are interested in buying, selling or investing anywhere in Silicon Valley, Morgan Hill, San Martin or Gilroy - I would love an opportunity to discuss with you what I can do to help you get the best outcome possible!

If you are desperately searching to find your home or to uncover a great investment property - you just might want to consider looking for an off market property! Finding off-market homes can be a great way to gain access to properties that are not available through traditional real estate channels. These are often properties that the owner is looking to sell privately and does not want to list publicly. While it may seem difficult to find off-market properties, there are several strategies that can be used to identify these opportunities. Networking Networking with real estate professionals is one of the most effective ways to find off-market properties. Real estate agents, brokers, contractors, investors and other industry professionals often have access to properties that are not publicly listed, and can provide valuable insights and guidance on potential opportunities in the local market. By joining real estate investment groups, attending industry events and conferences, and connecting with professionals on social media platforms like LinkedIn, you can gain access to these off-market opportunities. There are literally hundreds of online sites where you just might find a good connection that can help find those off-market opportunities! Online Searches Online resources can also be a great way to find off-market properties. There are many online listing services and databases that specialize in off-market properties, such as Zillow's Make Me Move and Redfin's Private Listing Network. Additionally, social media platforms like Facebook and Instagram can be a great way to connect with homeowners who may be interested in selling their homes off-market. By joining local groups and pages and looking for posts from homeowners looking to sell, you can find potential off-market opportunities. Tour Your Favorite Neighborhoods Driving around neighborhoods is another strategy that can be used to find off-market properties. By looking for homes that appear to be unoccupied or in disrepair, you can identify potential off-market opportunities. Write down the address and do some research to find the owner's contact information. You can then reach out to the owner directly to see if they are interested in selling. This strategy can be time-consuming, but it can also be an effective way to find properties that are not available through other channels. Snail Mail Is Still A Thing Direct mail campaigns can also be used to reach out to homeowners who may be interested in selling their properties off-market. Consider launching a direct mail campaign to reach out to homeowners in specific neighborhoods or areas. This can be a cost-effective way to get your message in front of potential sellers. Consider sending postcards or letters that introduce yourself and express your interest in buying their property. Auctions Attending real estate auctions can also be a great way to find off-market properties. Properties that are sold at auction may not be publicly listed for sale, and can often be purchased at a lower price than their market value. Research upcoming auctions in your area and attend as many as possible to find potential off-market opportunities. Real Estate Wholesalers Working with a real estate wholesaler can be another way to find off-market opportunities without having to do the legwork yourself. Real estate wholesalers are investors who specialize in finding off-market properties and then selling them to other investors or buyers. They typically have access to a network of off-market properties and can provide valuable guidance and support throughout the buying process. Your Personal Sphere Of Influence Finally, don't forget to tap into your personal network to find off-market properties. Ask friends, family members, and colleagues if they know of any properties that may be available for sale off-market. You never know when a great opportunity may present itself through personal connections. Don't forget Facebook,...

I came across an article a little while back on Redfin where they were discussing the pros and cons of living in San Francisco. As someone that is pretty familiar with San Francisco, I was surprised more by what they left out than what the included. San Francisco has long been considered a desirable place to live, thanks to its stunning architecture, rich cultural diversity, and thriving job market. However, recent years have highlighted some of the significant downsides of living in the city. In this podcast, we'll discuss a recent Redfin article that left out some critical cons to living in San Francisco, including higher crime rates, car break-ins, homelessness, drug paraphernalia, human and dog waste on the streets, and an unwillingness on the part of the city to deal with these issues. San Francisco is home to some of the most beautiful and iconic landmarks in the world, including the Golden Gate Bridge, Alcatraz Island, and Fisherman's Wharf. The city is also renowned for its thriving arts scene, vibrant neighborhoods, and diverse population. However, beneath the surface lies a reality that many residents and visitors alike have come to experience. One of the most pressing issues facing San Francisco is its high crime rate. While violent crime rates in the city are relatively low compared to other major cities, property crimes such as car break-ins and theft are rampant. In 2019, there were over 40,000 car break-ins reported in San Francisco, making it one of the highest rates in the country. The problem has become so pervasive that some residents now refer to the city as "Smash and Grab Francisco." The rise in crime rates has left many feeling unsafe and frustrated, particularly those who have been victims of these crimes. The city's homelessness crisis is another significant issue that cannot be ignored. According to the latest estimates, there are around 8,000 homeless people living in San Francisco. The problem is so severe that it has resulted in drug paraphernalia left on the streets, human waste on sidewalks, and other unsanitary conditions. For many residents, the situation has become untenable, with some areas of the city becoming virtual homeless encampments. The city's inability to address this issue effectively has left many feeling unsupported and frustrated. One of the most troubling aspects of San Francisco's homelessness crisis is the impact it has on public health and safety. The unsanitary conditions on the streets have led to an increase in diseases like hepatitis A, and it has also made it more difficult for the city to keep the streets clean. The situation has become so dire that some residents have taken it upon themselves to clean up the streets in their neighborhoods, but they are often met with resistance from the city. Despite the severity of these issues, the Redfin article failed to acknowledge them. Instead, it painted a picture of San Francisco as a paradise, highlighting the city's natural beauty, cultural diversity, and robust job market. While these are undoubtedly significant benefits of living in San Francisco, they do not tell the whole story. The article's failure to address these issues has led many to question its credibility and motive. Some have accused Redfin of trying to boost the city's real estate market by downplaying its problems. However, this approach is short-sighted, as it ultimately does a disservice to those who are considering moving to the city. While San Francisco remains an attractive place to live for many, it's essential to recognize the significant issues that the city faces. The rise in crime rates, homelessness crisis, and unsanitary conditions on the streets are not issues that can be ignored. It's vital for those considering moving to San Francisco to understand these challenges and to make an informed decision about whether it's the right place for them. Moreover, it's crucial for the city to acknowledge and address these issues effectively to...

The recent increase in national interest rates has caused quite a stir in the real estate industry, and it is not surprising that many prospective homebuyers are feeling the pinch. With interest rates hovering around 6.97%, it's no secret that home sales will decline. The real question, however, is how buyers and sellers can navigate this situation to ensure that their interests are protected. In Morgan Hill, San Jose, and Gilroy, the 30-year fixed loan interest rates for those with excellent credit are about 6.46%. While this may seem like a small difference, it can add up to thousands of dollars over the life of a mortgage. So, what can buyers do to get the best deal in the current market? One strategy that buyers could use is to "house hack" by purchasing a multifamily home instead of a single-family home. In this scenario, the buyer purchases a property with multiple units, living in one unit and renting out the others. By doing so, the buyer can offset their mortgage payments with rental income, which can be a significant advantage in a high-interest-rate environment. Additionally, buyers should focus on multifamily units of 4 or less to get advantageous interest rates as an owner-occupant. This is because loans for properties with more than four units are considered commercial loans, which come with higher interest rates and stricter lending requirements. Buying a multifamily allows buyers to get more bang for their buck, as they can potentially generate income while still building equity in their property. It's a smart strategy that can pay off in the long run, especially in the current market. However, buyers should also be aware that the coming months of March, April, and May tend to be big sales months that will be depressed by these higher interest rates. This means that there may be less competition in the market, which could work to the advantage of buyers who are looking to purchase a property. Sellers, on the other hand, should consider offering seller financing in order to attract more buyers who are struggling with currently high interest rates. This option allows the seller to act as the lender, providing financing to the buyer in exchange for a promissory note and a mortgage or deed of trust. Seller financing can be an excellent option for buyers who may not qualify for traditional financing or who are looking for a more flexible loan structure. However, it's important to note that seller financing may not be possible for sellers who have a current loan on the home. In this case, the seller may need to pay off their existing loan before offering seller financing, which can be a significant hurdle. Overall, the current high-interest-rate environment presents both challenges and opportunities for buyers and sellers in the real estate market. While higher interest rates may cause home sales to decline, savvy buyers and sellers can still navigate this situation to their advantage. For buyers, house hacking with a multifamily property and focusing on properties with 4 units or less can be a smart strategy. For sellers, offering seller financing can be a way to attract more buyers who are struggling with high-interest rates. Ultimately, success in the current market will depend on staying informed and being willing to adapt to changing conditions. —————————————————————————————————————————————————— ➡️ Instagram: https://www.instagram.com/rebelbroker/ ➡️ Twitter: https://twitter.com/rebelbroker ➡️ Facebook: https://www.facebook.com/whitelawre/ 🏡 💵 Get Your FREE Home Value Estimate! - https://www.soldbyrobert.com/sellers-services/property-value-report ☕️ "Coffee And Real Estate" Live Events: https://www.facebook.com/whitelawre/live/ 📰 Subscribe To The Monthly Newsletter: https://soldbyrobert.com/get-the-newsletter 🕵🏻‍♂️ Search For Homes For Sale: https://soldbyrobert.com/homes-for-sale-map-search 👓 Luxury Homes List: https://soldbyrobert.com/listing-report/Luxury-Homes/1371502 💵...

When headlines imply things are better than they feel, it is always good to take a closer look. January home sales headlines are a good example. The Latest Headlines In the most recent headlines for the home sales number in January, you could be forgiven for thinking that things are looking up. Sadly, that is not the case. At least, it is not giving the right overall impression as they focus on month to month numbers instead of year over year numbers. So today, we are going to look at the real numbers, but also compare those national and regional numbers to what we are seeing right here in Santa Clara County. New Home Sales The U.S. new-home sales rose 7.2% to a seasonally adjusted rate of 670,000 in January, up from a revised 625,000 in the prior month, the Commerce Department reported on Friday. However, the year-over-year new-home sales are still down by 19.4%, which indicates a decline in the housing market. Regionally, the South led the U.S. in the number of new homes sold, with the figure surging by 17.1%, while sales of new homes dropped across the rest of the country—most sharply in the Northeast, by 19.4%. Despite the overall decline in home sales, home builders are offering incentives like mortgage-rate buydowns to entice buyers, and it’s working. However, mortgage rates crept back up this month, which is prompting more buyers and sellers to back off. Home-purchase applications dropped to the lowest level since 1995 last week as mortgage rates jumped on expectations that the Federal Reserve will need to raise interest rates again to combat inflation. The average 30-year-fixed mortgage rate is now 6.5%, up from an average of 6.27% in January and 3.89% a year ago. That has caused the typical home buyer’s monthly payment to rise more than $500 year over year. Some Existing Home Sales Numbers Closed home sales fell 1.4% from a month earlier in January and slumped a record 36.6% from a year earlier. Many homeowners are reluctant to sell because they don’t want to give up their relatively low mortgage rates. About 85% of mortgage holders have a rate far below today’s level of roughly 6%. The median sale price of homes nationwide was $383,249 in January, down 1.4% from December and 11.5% below the May all-time high. Still, prices were up 1.5% from a year earlier, in part because low supply kept prices afloat. Mortgage Rates And New Home Incentives The housing market is facing challenges due to rising mortgage rates and inflation. Many home buyers are now hesitant to make a purchase due to the increased cost of borrowing. In addition, many homeowners are holding onto their properties because they have low mortgage rates, which is creating a shortage of homes for sale. This supply-demand imbalance is leading to higher prices for the homes that are available on the market. Despite the challenges, home builders are continuing to offer incentives to buyers to entice them into the market. These incentives may include mortgage-rate buydowns, cash-back offers, or other perks. The incentives are helping to keep the market afloat, but they may not be enough to reverse the overall decline in home sales. Different Regions, Different Results The decline in home sales is not uniform across the country. The South, which is the largest region in the U.S., saw a surge in new-home sales, while the Northeast saw the sharpest decline in sales. The regional disparities in the housing market may be attributed to a variety of factors, such as job growth, affordability, and population growth. The housing market is facing significant challenges due to rising mortgage rates and inflation. Home buyers are now more cautious about making purchases due to the higher cost of borrowing. In addition, many homeowners are reluctant to sell because they have low mortgage rates, which is creating a shortage of homes for sale. While home builders are offering incentives to entice buyers, the market is likely to remain weak until there is more...

One of the more strange points of contention in the world of real estate is open houses. How does something so simple result in so many different opinions? Today, I want to take you on a journey to discover the bottom line truth about open houses using some common sense - which frequently seems to be left out of the discussion - and 30 plus years of experience from a real estate professional (That’s me!). The Common Points About Open Houses The argument against open houses usually goes something like this. First, buyers today use the internet to browse for homes and narrow down their choices. One little nugget they like to use to support this claim is that a National Association of Realtors survey found that only 7% of buyers found the home they bought by visiting an open house. Next, and probably the most commonly used point by real estate agents in listing appointments is that open houses are really more about Realtors getting new clients at open houses and far less about selling the home. A line home sellers might frequently hear is “I have never seen or heard of someone selling a home at an open house!”. Finally, the idea that theft is a major downside to open houses where visitors can steal jewelry or other loose items or perhaps even check out the property for a future break in. Common But Not Convincing All that sounds pretty reasonable, right? In reality, it only holds water if you accept their definition of what an open house is supposed to be. So let’s refer back to that National Association of Realtors study. Read that line again, carefully. … only 7% of buyers found the home they bought … So consider that for a moment. Of course buyers do not FIND the home they buy using an open house. This assumes that the open house is the first exposure a buyer has to the home and not only is that not correct, it has NEVER been correct - even before the internet. An open house is not the opener to getting the notice of buyers, but it is a way to let them conveniently get access to the home for viewing. Open houses are a viewing tool. At its core, an open house is a scheduled period of time in which interested parties can view a property that they have interest in. They likely found the home on the internet, liked the information they saw and then decided to use the open house as a way to get a look at the inside. So the open house is about access, not introductions. Easy To Show Makes It Easier To Sell As I have covered in past podcasts, videos and Coffee & Real Estate Live Chats, the home that is easiest to show is the house that will get shown first and most often. By offering an open house, buyers do not have to set a time and try to wedge it into seeing a number of other properties. They avoid having to view the home with their real estate agent, which leaves them the freedom to be more frank with themselves and other family members about their thoughts about the property. In fact, this even allows buyers to come back multiple times in the same day if they want. Since an open house usually lasts for 5 or more hours, a buyer could go view another home then want to get another look at your open house to refresh their memory. The longer a buyer spends looking at a home, the higher the probability that this buyer will make an offer. If they start pulling out measuring tape, then you really know that their interest is peaked! Is It Really A Better Tool For Agents To Get Clients? Then there is the idea that an open house is more for the benefit of agents than for sellers. Perhaps, but does that mean it has no value for sellers just because it has value for the agent? If done right, an open house can benefit everyone involved - buyer, seller and agent. Despite this claim, agents usually use this point to try and prevent an open house from being on the to-do list. The truth is that most agents hate doing open houses. If you hire an agent that employs a team, you can bet that a member of their team (the lowest on the...

For almost a decade, the momentum of the real estate market has nearly guaranteed that if you list a home it will sell. The quality of your real estate agent could definitely help you make more - or less. But in the end, your home would sell. Today, things are different. Sellers need to make sure that the key elements that influence the sale of their home are handled correctly. So lets talk about all those critical elements and what sellers need to do to make sure they are done well. —————————————————————————————————————————————————— ➡️ Instagram: https://www.instagram.com/rebelbroker/ ➡️ Twitter: https://twitter.com/rebelbroker ➡️ Facebook: https://www.facebook.com/whitelawre/ 🏡 💵 Get Your FREE Home Value Estimate! - Get Your CMA ☕️ "Coffee And Real Estate" Live Events: https://www.facebook.com/whitelawre/live/ 📰 Subscribe To The Monthly Newsletter: https://soldbyrobert.com/get-the-newsletter 🕵🏻‍♂️ Search For Homes For Sale: https://soldbyrobert.com/homes-for-sale-map-search 👓 Luxury Homes List: https://soldbyrobert.com/listing-report/Luxury-Homes/1371502 💵 Homes Priced Below Average: https://soldbyrobert.com/listing-report/Homes-Priced-Below-Average-In-Morgan-Hill-San-Martin-and-Gilroy/1281392 —————————————————————————————————————————————————— 📚 A case study in how I get better results than other real estate agents or brokerages: https://soldbyrobert.com/2020/08/breaking-every-record-for-my-clients/3444 —————————————————————————————————————————————————— My goal is to share my insights and opinions relating to real estate so that you can make the best possible decisions in achieving your real estate dreams. If you are interested in buying, selling or investing anywhere in Silicon Valley, Morgan Hill, San Martin or Gilroy - I would love an opportunity to discuss with you what I can do to help you get the best outcome possible!

The data is clear, rent control does not work. Pushing for national rent control just makes a bad idea worse as the federal government attempts to impose a one size fits all policy for the wide variety of markets across the country. Unintended Consequences National rent control policies, while appearing to be a solution for the affordability crisis faced by renters in many cities, are actually a bad idea in practice. Such policies often come with unintended consequences that do more harm than good to both renters and landlords. Reduces New Construction One of the major drawbacks of rent control is that it discourages new construction. When landlords are not able to increase rent in response to market demand, there is less financial incentive for developers to build new rental properties. This can lead to a shortage of housing units and make the affordability crisis even worse. Additionally, many landlords may choose to convert their rental properties into condominiums or other forms of ownership, further reducing the number of rental units available. Housing Quality Suffers Another problem with rent control is that it can reduce the quality of housing. When landlords are not able to increase rent to cover the cost of repairs and upgrades, they may be less likely to invest in maintaining their properties. This can result in dilapidated buildings that are unsafe and unsanitary, causing harm to renters and the community at large. Actually Unfair To Renters In addition to these problems, rent control can also be unfair to renters. Rent-controlled units are often occupied by long-term tenants who are paying significantly less than market rate, while new renters must pay the full market rate. This creates a two-tiered system where some renters enjoy the benefits of lower rent, while others struggle to find affordable housing. It also disincentives mobility and discourages renters from moving when they may have to pay significantly more for rent elsewhere. Depresses The Local Economy Rent control can also have negative effects on the local economy - national rent control would just make it bad everywhere. When landlords are not able to increase rent to cover their expenses, they may be forced to reduce their spending on local goods and services, which can lead to a reduction in economic activity and job losses. Additionally, when rent control discourages new construction, it reduces the amount of money being spent on construction materials and services, which can have a ripple effect throughout the local economy. Likely Abuse Finally, rent control policies are often difficult to enforce, and can be subject to abuse. For example, landlords may try to circumvent the regulations by illegally evicting tenants or by making living conditions unbearable in order to force them to leave. Rent control policies can also lead to corruption, with landlords and city officials colluding to maximize profits at the expense of renters. While national rent control policies may appear to be a solution to the affordability crisis faced by renters, they are actually a bad idea in practice. Rent control can lead to a shortage of housing units, reduce the quality of housing, be unfair to renters, have negative effects on the local economy, and be subject to abuse and corruption. In addition, there is plentiful data indicating that rent control simply does not work or achieve any of the goals that proponents suggest. So What Should Get Done? Instead of relying on rent control, policy makers should focus on other solutions to the affordability crisis, such as increasing funding for affordable housing development, providing financial incentives for landlords to maintain their properties, and improving transportation options to reduce the cost of living in high-rent areas. These solutions are more likely to result in real, lasting benefits for renters and landlords, while avoiding the unintended consequences associated with rent...

It is hard not to see all the media outlets painting a tolerable picture of what to expect in 2023. Most of the mainstream folks point to a possible 4%-6% value drop over 2023. When this comes up, the favorite line seems to be "2023 is very different from 2007". What is interesting is if we actually take a look at the points they use to support this idea, every single one of them would tend to more accurately indicate that 2023 is more like 2007 than any of us would like. So in todays show, we are going to chat about these claims and run down why, at the very least, there is a good chance that 2023 could turn out to be nearly as bad as 2007 - if not worse! —————————————————————————————————————————————————— ➡️ Instagram: https://www.instagram.com/rebelbroker/ ➡️ Twitter: https://twitter.com/rebelbroker ➡️ Facebook: https://www.facebook.com/whitelawre/ 🏡 💵 Get Your FREE Home Value Estimate! - https://rebelbroker.smarthomeprice.com/ ☕️ "Coffee And Real Estate" Live Events: https://www.facebook.com/whitelawre/live/ 📰 Subscribe To The Monthly Newsletter: https://soldbyrobert.com/get-the-newsletter 🕵🏻‍♂️ Search For Homes For Sale: https://soldbyrobert.com/homes-for-sale-map-search 👓 Luxury Homes List: https://soldbyrobert.com/listing-report/Luxury-Homes/1371502 💵 Homes Priced Below Average: https://soldbyrobert.com/listing-report/Homes-Priced-Below-Average-In-Morgan-Hill-San-Martin-and-Gilroy/1281392 —————————————————————————————————————————————————— 📚 A case study in how I get better results than other real estate agents or brokerages: https://soldbyrobert.com/2020/08/breaking-every-record-for-my-clients/3444 —————————————————————————————————————————————————— My goal is to share my insights and opinions relating to real estate so that you can make the best possible decisions in achieving your real estate dreams. If you are interested in buying, selling or investing anywhere in Silicon Valley, Morgan Hill, San Martin or Gilroy - I would love an opportunity to discuss with you what I can do to help you get the best outcome possible!

As the market shifts, inventories grows, sales prices drop and the the time it takes a home to sell stretches further out. It has been years since we have seen a market like this, and many of todays agents have never even seen a market like this. So now more than every, you need to make sure you are finding a real estate agent that can deliver the best results for you. So in todays show, lets chat about some real estate questions you can ask to try and pin down that right agent. —————————————————————————————————————————————————— ➡️ Instagram: https://www.instagram.com/rebelbroker/ ➡️ Twitter: https://twitter.com/rebelbroker ➡️ Facebook: https://www.facebook.com/whitelawre/ 🏡 💵 Get Your FREE Home Value Estimate! - https://rebelbroker.smarthomeprice.com/ ☕️ "Coffee And Real Estate" Live Events: https://www.facebook.com/whitelawre/live/ 📰 Subscribe To The Monthly Newsletter: https://soldbyrobert.com/get-the-newsletter 🕵🏻‍♂️ Search For Homes For Sale: https://soldbyrobert.com/homes-for-sale-map-search 👓 Luxury Homes List: https://soldbyrobert.com/listing-report/Luxury-Homes/1371502 💵 Homes Priced Below Average: https://soldbyrobert.com/listing-report/Homes-Priced-Below-Average-In-Morgan-Hill-San-Martin-and-Gilroy/1281392 —————————————————————————————————————————————————— 📚 A case study in how I get better results than other real estate agents or brokerages: https://soldbyrobert.com/2020/08/breaking-every-record-for-my-clients/3444 —————————————————————————————————————————————————— My goal is to share my insights and opinions relating to real estate so that you can make the best possible decisions in achieving your real estate dreams. If you are interested in buying, selling or investing anywhere in Silicon Valley, Morgan Hill, San Martin or Gilroy - I would love an opportunity to discuss with you what I can do to help you get the best outcome possible!

Dealing with big egos in a real estate transaction can be challenging, but it is important to remember that at the end of the day, the goal is to close the deal and have a successful transaction. Here are some tips on how to handle big egos in a real estate transaction: Keep the focus on the deal: It is easy to get caught up in personal egos, but it is important to remember that the main focus is on the real estate transaction. Try to keep the conversation centered on the details of the deal and avoid getting sidetracked by personal egos. Be professional: Even if the other party is acting unreasonably or letting their ego get in the way, it is important to remain professional. This means not getting into personal attacks or letting your own ego get in the way of finding a resolution. Find common ground: Look for areas where you can find common ground and focus on those rather than dwelling on differences. This can help to defuse tension and make it easier to find a solution that works for everyone. Communicate openly and honestly: Clear communication is key in any real estate transaction. Be open and honest about your needs and concerns, and try to listen actively to the other party. This can help to build trust and make it easier to find a resolution. Seek mediation or outside help if necessary: If things are really not progressing, it may be helpful to seek the assistance of a mediator or bring in another party to help facilitate the conversation. This can provide a neutral third party to help find a solution. Overall, the key to handling big egos in a real estate transaction is to remain professional and focused on the deal, and to try to find common ground and communicate openly and honestly. With patience and persistence, it is often possible to find a resolution that works for everyone. —————————————————————————————————————————————————— ➡️ Instagram: https://www.instagram.com/rebelbroker/ ➡️ Twitter: https://twitter.com/rebelbroker ➡️ Facebook: https://www.facebook.com/whitelawre/ 🏡 💵 Get Your FREE Home Value Estimate! - https://rebelbroker.smarthomeprice.com/ ☕️ "Coffee And Real Estate" Live Events: https://www.facebook.com/whitelawre/live/ 📰 Subscribe To The Monthly Newsletter: https://soldbyrobert.com/get-the-newsletter 🕵🏻‍♂️ Search For Homes For Sale: https://soldbyrobert.com/homes-for-sale-map-search 👓 Luxury Homes List: https://soldbyrobert.com/listing-report/Luxury-Homes/1371502 💵 Homes Priced Below Average: https://soldbyrobert.com/listing-report/Homes-Priced-Below-Average-In-Morgan-Hill-San-Martin-and-Gilroy/1281392 —————————————————————————————————————————————————— 📚 A case study in how I get better results than other real estate agents or brokerages: https://soldbyrobert.com/2020/08/breaking-every-record-for-my-clients/3444 —————————————————————————————————————————————————— My goal is to share my insights and opinions relating to real estate so that you can make the best possible decisions in achieving your real estate dreams. If you are interested in buying, selling or investing anywhere in Silicon Valley, Morgan Hill, San Martin or Gilroy - I would love an opportunity to discuss with you what I can do to help you get the best outcome possible!

Determining how honest the people you are interacting with can be critical in protecting your interests. In real estate, where you are usually selling your greatest asset or buying your biggest asset - being able to root out the truth can save you thousands and a big pile of headaches. Today we will discuss the truth about lies, how to spot them and what to do about it when you do! —————————————————————————————————————————————————— ➡️ Instagram: https://www.instagram.com/rebelbroker/ ➡️ Twitter: https://twitter.com/rebelbroker ➡️ Facebook: https://www.facebook.com/whitelawre/ 🏡 💵 Get Your FREE Home Value Estimate! - https://rebelbroker.smarthomeprice.com/ ☕️ "Coffee And Real Estate" Live Events: https://www.facebook.com/whitelawre/live/ 📰 Subscribe To The Monthly Newsletter: https://soldbyrobert.com/get-the-newsletter 🕵🏻‍♂️ Search For Homes For Sale: https://soldbyrobert.com/homes-for-sale-map-search 👓 Luxury Homes List: https://soldbyrobert.com/listing-report/Luxury-Homes/1371502 💵 Homes Priced Below Average: https://soldbyrobert.com/listing-report/Homes-Priced-Below-Average-In-Morgan-Hill-San-Martin-and-Gilroy/1281392 —————————————————————————————————————————————————— 📚 A case study in how I get better results than other real estate agents or brokerages: https://soldbyrobert.com/2020/08/breaking-every-record-for-my-clients/3444 —————————————————————————————————————————————————— My goal is to share my insights and opinions relating to real estate so that you can make the best possible decisions in achieving your real estate dreams. If you are interested in buying, selling or investing anywhere in Silicon Valley, Morgan Hill, San Martin or Gilroy - I would love an opportunity to discuss with you what I can do to help you get the best outcome possible!