February 2024: Early Spring
This year is off to quite the start with the snow nearly all gone, and people are starting to pack up their winter jackets and put away in anticipation of an early spring. I sure hope they're right!
The weather has led to a busier start in he housing market than in recent years and buyers are already competing in multiple-offer situations. But not everyone is looking to move. Some clients with low rates are feeling stuck in their homes not wanting to move up with rates higher!
The good news is if rates dip this spring/summer, that may lead to move-up buyers selling, leading to more inventory. We'll just have to wait and see what the Fed does.
If everything seems under control, you're not going fast enough!
One of the home equity lenders we work with closes and funds in as little as 5 days. No appraisal is needed, and they scan bank statements for deposits to confirm income. Pretty slick!
Please note, if you are planning to stay in your home for a while, we have a few new home equity lines of credit available for consolidating debts and making home improvements.
Speaking of going fast, basketbll season is coming to an end. My kids' teams competed in their State Tournaments this past week, so I have 10 hours a week of newfound time on my hands.
I was at United Wholesale Mortgage a few weeks ago and the CEO, who wan an NCAA national championship as a walk-on and owns the Phoenix Suns, told a story about coaching his kids' teams that I found interesting and shared with my team. He said: "When my kids' teams lose a game, some of them cry. It's ok to cry if you go hom eand practice. If you go home and play video games, I don't want to see you crying again." A few weeks later I had a player cry after fouling out and losing a game. She went home and practiced for 2 hours.
Tough love can be the hardest, but sometimes most necessary, form of love.
An interesting statistic I came across showed that 52% of adults 18-34 are still living at home with their parents. If you know of anyone still living at home (or have a friend with adult children still living at home that would like to lose their roommate) have them give me a call!
My team and I greatly appreciate you and couldn't do what we do without you! Thanks in advance for connecting us with any buyers or disgruntled parents/landlords this spring!
