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A chance conversation in a coffee shop led to six rental units, a private lending deal, and years later—another acquisition. Real estate is a relationship business, but this story shows what that really means. Here’s how one connection turned into multiple opportunities over time.
Why Real Estate Is A Relationship Business (A Real Story)
THE MORTGAGE INDUSTRY
Mortgage Rates Are Actually Lower This Week
On any given Thursday, there's a decent enough chance that the average mortgage rate headline will be unintentionally misleading. At issue is media reliance on the longstanding weekly mortgage rate surveys. If news stories are going to cite this data, that's fine, but it's critical to understand the methodology.
MORE MORTGAGE INDUSTRY NEWS
Florida Court Shields Undrawn Reverse Mortgage Credit Lines From Garnishment - A Florida appellate court has ruled that creditors cannot force homeowners to draw from unused reverse mortgage credit lines to satisfy debts, as these lines of credit are not present assets. This ruling establishes new legal clarity for Home Equity Conversion Mortgage (HECM) products and their treatment in creditor actions.
Weekly Mortgage Refinance Demand Is Down More Than 40% In The Past Month - Mortgage rates moved even higher again last week, as the war with Iran continues to stoke fears of inflation. As a result, total mortgage application volume fell, down 10.4% from the previous week. Applications to refinance a home loan, which are most sensitive to weekly interest rate moves, dropped 17% for the week and were 33% higher than the same week one year ago.
THE HOUSING MARKET
Over Half Of Home Listings Have Been Lingering On The Market For More Than 2 Months
In dollar terms, there’s $347 billion worth of stale listings in the U.S., more than ever before for this time of year. That’s because there are hundreds of thousands more home sellers than buyers, leading to homes sitting on the market. Stale inventory is most common in Florida, and least common in the Bay Area.
MORE HOUSING MARKET NEWS
HOA Fees Surpass $6K A Year For Millions Of Homeowners - While homeowners know to budget in mortgage payments, there's a not-so-hidden monthly cost that millions are paying, and that cost is increasing—often significantly—each year. One in three current homeowners—or 17.5 million people—across the 100 largest metros pays monthly homeowners association (HOA) or condo fees.
3 Cities Where The Best Time To Sell Is Right Now - Spring tends to give sellers an edge, as the surge in buyer activity shifts the market in their favor. For sellers in Cincinnati, Seattle, and Grand Rapids, MI, the week of March 29–April 4 is the Best Time to Sell according to Realtor.com® economists.
THE CONSTRUCTION WORLD
U.S. Bank Integrates Built Platform To Streamline Construction Lending For Borrowers And Builders
U.S. Bank is targeting one of mortgage lending’s most persistent pain points, construction loan complexity, through a deeper integration of the Built platform. The move is designed to speed up draw timelines, reduce manual workflows, and improve the borrower experience.
Experts Reveal The Easiest And Cheapest Projects That Will Help You Sell Your Home
Getting ready to sell your house? You might assume you need a big renovation budget to impress buyers—but, according to those in the know, making just a few small changes around the home can work wonders when it comes to luring in more than a few interested parties. There are a handful of cheap and oh-so easy projects that can make your home feel fresher, more inviting, and easier for buyers to picture themselves living in.
THE FINANCE CORNER
57% Of Americans Have Made Financial Sacrifices To Afford Homeowners Insurance: How To Lock In Affordable Coverage
Many Americans are struggling to make ends meet these days. While buying a home continues to seem out of reach, affording the home you already own is also becoming an increasing burden. For example, 57% of homeowners have made financial sacrifices to pay for homeowners insurance, according to new Insurify data.
Hedge Funds Bail From Global Stocks At Fastest Pace In 13 Years
Fast-money investors are rushing to unwind their global equity exposure amid diminishing hopes for a swift resolution of the war in the Middle East. Hedge funds sold global stocks at the fastest pace in 13 years in March, according to data compiled by Goldman Sachs Group Inc.’s prime brokerage unit. The pace of selling was the second-largest since the bank started collecting the data in 2011.
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One Nation Weekly
Good luck to you on your real estate investing journey!
