VA Issues Temporary Fix to Allow Buyer-Paid Broker Fees!
The VA issued a temporary fix that will allow homebuyers using VA Loans to pay for their real estate agent’s commission. The decision came pretty quickly, all things considered. The true tale-of-the-tape will be how this makes its impact in buyer’s lives once the August 10, 2024 start date is upon us!
Average Price per Square Foot is up 50% since 2019…but that’s not stopping investors.
The Rate of increase on price per square foot averages is actually quite astonishing. It leaves us asking the question of which came first type of situation. Are investors partly to blame for this rapid increase as well as traditional homebuyers, or is everyone chasing the trend no matter what kind of buyer you are?
Friends of Mortgage Heroes 23 | Sebastian Winfield - Team Lead The More Group
Sebastian is a self proclaimed "military brat" who bounced around his entire life living in Virginia, Italy, Sicily and finally settled down in SD. Growing up he played golf all the way through his schooling years and played D-1 golf at San Jose State University.
He is the Team Leader for The More Group and strives to provide nothing less than a WOW experience to everyone he serves. He is always looking to make new connections and provide value to others in order to create a massive impact on your life!
Contact Sebastian:
https://www.instagram.com/sebbewinfield
You’ll Never Guess Which Generation Has the Lowest Mortgage Rate!
Surprise surprise…A new study from Realtor.com found that Millennials and Gen X are actually tied for the lowest average mortgage rates across the country, but they also have the highest average monthly payments. This also folds over into another surprising survey that found “Housing Affordability” is the TOP Voting issue among Gen Z.
Friends of Mortgage Heroes 022 | CJ Johnson - Life House SD
Wow wow wow! What a story of restoration (literally) in life and business. Today our friend CJ shares his backstory going all the way back to his military service up through how he came up with the concept “Life House SD”. If you’ve ever felt like your down in out and your life has taken a hard right turn, listen up to CJ’s story of overcoming the odds, beating addiction and living a life restored!
And to top it off, his team is meticulous when it comes to maximizing the potential in spaces and places that most would write off or dismiss as undevelopable.
Contact CJ:
IG: https://www.instagram.com/lifehousesd/
Millennials & Gen Zers tapping into retirement AND taking out 40% of Mortgages?!
Ya, you read that right, Millennials & Gen Zers tapping into retirement AND taking out 40% of Mortgages. New reports show another cultural trend change in from the younger generation that they are hungry for real estate, and are willing to take untraditional routes to get there.
Friends of Mortgage Heroes 021 | Emiliano Avalos - Real Estate Investor
Wow wow wow! Emiliano brings a LOT to the table when it comes to real estate investing. Even at such a young age he has experience that would make you think he’s decades into his career. From going all-in on flipping properties to renovating homes and keeping them in a portfolio for the long haul, Emiliano has a servant's heart at the bottom of it all.
Contact:
IG: https://www.instagram.com/emiliano1of1
Traditional Homeownership is changing as Demand Remains HOT!
It has become very obvious that new ways of looking at the housing market are here to stay. Yet, it’s more than generational differences driving novel ways of achieving homeownership among families (and friends!). This has sparked some new building trends to meet this demand, which also reshapes what our neighborhoods and cities will look like for the years to come.
Friends of Mortgage Heroes 020 | Miguel Contreras - Founder, Reign West Collective
There is so much to say about our long time friend Miguel Contreras. We have a lot of common ground, yet so much that makes us different and complimentary to one another. This conversation was heartwarming, fun, and very insightful.
One of the most meaningful parts of Miguel’s personal story is how the SAME agent that helped his parents purchase their first home when he was a child is the SAME AGENT who helped launch his career. Thus, bringing the idea to life that what you do can create generational changes for decades to come.
Contact:
https://reignwestcollective.com/
https://www.instagram.com/miguelitomigs
Some Renters Hopes of buying a home have completely disappeared, WHO and HOW can we fix this?
It’s no surprise anymore that home prices, elevated mortgage rates and tight inventory are major hurdles standing in the way of Renters. In addition, already paying some of the highest monthly rest totals per capita ever, renters then struggle to save a comfortable down payment, get qualified, find a home, and then make a winning offer. Who and How can we fix this?
Friends of Mortgage Heroes 019 | Ian Duffy, ICU Nurse Turned Real Estate Investor
Travel nurse turned Realtor / Real Estate Investor - Ian Duffy is a powerhouse. In this episode we talk about his epic trip with his father, his path that lead him to real estate at a young age and the mindset that drives him to set and achieve BIG goals personally and professionally.
Contact Ian:
IG: @scrubs2estates
https://www.instagram.com/scrubs2estates/
Unintended consequences, or is the Fed doing this on purpose?
The latest comments from Jerome Powell and the Fed are NOT what they thought they would be announcing at this point in 2024. At the end of 2023 all estimates we that the Federal Reserve would bring at least 3-4 rate reductions into 2024. Some aggressively projected as many as 6-8 rate reductions as the Fed achieves the illusive “soft landing” that seem all for naught.
Friends of Mortgage Heroes 018 | Jason Turner, Bankruptcy Attorney J. Turner Law Group, APC
Jason has been a friend of ours since 2007. There are many attorneys in Southern California to choose from. Many attorneys understand the law, and many work hard. However, few attorneys combine bankruptcy, real estate and tax expertise with an ability to listen well, and with a deep desire to help their clients get to a better "place," both financially, and legally.
If you need to seek counsel regarding his specialties of real estate, bankruptcy & tax implications you can contact Jason:
Office: (619) 946-7193
Website: http://www.jturnerlawgroup.com/home.html
Will the Housing Market Crash? Millennials are betting it won’t!
It seems like everyone is getting turned left and right when it comes to the state of housing in 2024. Will rates go back down? When will they stop going up? Are home prices going to crash, or will they keep rising? Will the inventory shortages be overcome with new construction? And HOW on earth are younger people affording real estate these days?
Friends of Mortgage Heroes 017 | Chris Aguilar, CEO A.H. Construction/Real Estate Investor & Mentor
Wow there's a LOT to this episode with our friend Chris Aguilar. Fresh off his JUST MAXIMIZE conference, Chris joined us to talk about his early life, becoming a purpose-driven person all the time, and how Vision, Knowledge, and Action are behind every successful millionaire and billionaire.
In this episode you will also learn Chris' "BFWDR" Strategy for real estate: Buy/Hold - Fix/Flip - Wholesale - Develop - Relist Properties.
This is a great episode for people looking to invest in real estate, hold properties, maximize their business life, or identify your Purpose.
Contact Chris:
IG: @the.chrisaguilar
https://www.instagram.com/the.chrisaguilar/
The VA Last Resort Program & Spring Drama in Real Estate
It’s whiplash-central in real estate and mortgage this spring. Home sales came in short in March even though inventory has been cruising along as expected. Obviously rate volatility is messing with the whole system, but it looks like the VA has come up with a solution for Veterans in need…will it work?
***VA officials said any veteran struggling with making their mortgage payments should check out the department's housing assistance website https://www.va.gov/housing-assistance/ or call (877) 827-3702.
Friends of Mortgage Heroes 016 | Travis Winfield, President/CEO MORE Group
Buckle up and great ready to here some straight truth from our longtime friend Travis Winfield! In this episode our friend Travis Winfield shares his personal experience of realizing there’s actually MORE in store for us when we confront our darkest moments head on and DO THE WORK to make ourselves whole.
If you’re building a plan Travis will tell you: A good plan violently executed today is better than a perfect plan executed next week.
If you’re in debt, Travis will tell you: Cure the disease of debt, not the symptoms.
Not enough? Then, success makes more of what you already are. If you’re a jerk, you’ll be a bigger jerk. If you’re generous, you’ll be more generous.
Contact Travis:
https://moregroup.vet/
https://www.enlistedleadershipfoundation.org/
Inflation is making it harder to buy and refinance homes, but can you STILL DO IT?
Last week’s inflation readings were a hefty punch to the gut for housing. Interest rates immediately rose on the same day. This continued inflation wreaks havoc on major parts of the economy, and housing is already in the spotlight as one of the culprits. Additionally, there’s a long shadow cast on whether or not we will return to ANY consumer prices of the past.
Friends of Mortgage Heroes 015 | DJ Gutierrez Beyond the Keys Realty
When you're looking for a team that will be with you "Beyond the Keys" you'll find DJ. In this episode DJ shares with us his military background and how he's used that discipline to create personal and business goals that are worth fighting for. Whether you need to 'Inspect what you EXPECT' or 'Keep it simple stupid' you're gonna learn a lot from DJ's personal story and encouragement that sacrifice matters.
DJ shares how important it is to create a plan, focus on your plan, execute your plan, and stay in your lane because it's great there! Take it from a guy who will close 36 transactions this year, 4 flips, and 1 "buy and hold".
Contact DJ:
IG - https://www.instagram.com/realestatebydj/
FB - https://www.facebook.com/realestatebydj
6 Potential Scenarios for Veterans After Rule Changes
Another week down and we’re nowhere closer to a solution for VA buyers. The upcoming commission changes due to the settlement in the National Association of Realtors lawsuit directly impacts a VA buyers ability in HOW they make their first (or next) home purchase. Additionally, the FHA program is also ramping up for how to handle their rules as a result of this same settlement while the Spring housing market keeps warming up.
