jonpowers.loan

03/11/2024

"Homebuying myths? 🏠💥 Was introduced to a couple unsure about buying a home—thought they weren't ready financially. A quick chat and a Pre-Approval later, and they were under contract before the weekend was out! 🌟🔑

Talk about carpe diem! It's like tearing down the time delay in Hormozi's value equation! 💣

Thinking about homeownership but doubting that you're ready? Don't guess, remove ALL DOUBT! DM me to start your journey! 🚀💼 "

03/05/2024

The latest market data for my friends in Rocky Mount, NC! Brett Hill Tiffany Hill Realtor 1st Class Real Estate Triangle East 252 955 1880 Jacqueline Newhouse Sheena E. Hudson-Williams

02/28/2024

I had an "older" friend refer to it as Chat GTA the other day, whichI thought was pretty funny.

It seems like AI is everywhere and has already taken over our lives (even before it actually takes over our lives).

Here's some lingo tips to help better understand the jargon around all the new tech in real estate:

1. App 📲: Any software, not just on your phone.
2. API 🌉: Bridges between software, making them talk to each other.
3. Back-office 📊: The financial/legal backend of real estate operations.
4. Back end 🔧: The "under the hood" parts of a website or app.
5. Blockchain ⛓️: Secure, digital ledger for transactions.
6. Companion app 👥: Mobile version of a desktop/web app.
7. Computer vision 👁️‍🗨️: AI that understands visuals for real estate insights.
8. Consumer Permissioned Data (CPD) 🔑: Consumers control their financial data usage.
9. Conversion 🔄: Turning leads into clients.
10. CMS 📝: System for managing website content.
11. CRM 💼: Manages client relationships beyond just a contacts list.
12. CTA ✋: Prompts action on websites/adverts.
13. Digital twin 🏠📱: Virtual model of physical objects/homes.
14. Data visualization 📊: Making complex data easy to understand visually.
15. eNotes 📄✍️: Digital promissory notes.
16. Exposure fusion 📸: Photo technique for balanced interior lighting.
17. Fintech 💲: Tech for finance, like digital payments/blockchain.
18. Front-end 🖥️: User-facing part of a website/app.
19. Funnel 🌀: Lead to client conversion process.
20. GPT 🤖: AI for generating text, like ChatGPT.
21. HDR 🌈: Photography tech for better light range in photos.
22. LLM 🧠: Advanced language models for text prediction/generation.
23. MERS 🏦: Database for tracking mortgage ownership.
24. MERS eRegistry 🔒: Securely stores digital mortgage notes.
25. MISMO 📊: Standards for mortgage info exchange.
26. Metadata 🏷️: Data about data in images for better searches.
27. Metatags 🔍: Help improve web page search accuracy.
28. Mobile first 📱➡️: Design with mobile priority but not exclusively an app.
29. Mobile responsive 📲↔️: Web design that adapts to any screen size.
30. Omnichannel 📢: Unified marketing across all media types.
31. QR Code 🤳: Scannable codes for quick info access.
32. RON 📝💻: Remote online notarization for document signing.
33. SEM 🔎: Marketing via search engines, including ads/SEO.
34. Tech stack 📚: The suite of tech products a company uses.
35. UX/UI 🖌️👆: The look, feel, and usability of software.

Seems like a lot, doesn't it?! 🌟 🏘️💡

01/17/2024

Right now is really an opportunistic "calm before the storm" time to buy or build a home.

01/09/2024

Thinking about buying a home this year? Do you think prices for new homes in '24 are going to be higher or lower than '23?

Lower rates will lead to more demand, and without a significant increase in inventory, my bet is they're going up. The demand hasn't fully arrived yet, but it is on the upswing, so literally RIGHT FREAKING NOW is the time to buy, before we see demand leads to multiple offer situations that drive up prices.

The MBS Highway National Housing Index jumped to 42 in January 2024, from 34 in December 2023. This was the 2nd straight month of improvement after 6 months of decline. Two factors have led to this increase; normal seasonality and the 1%+ dip in mortgage rates since late fall.

Shoot me a message if you'd like to learn more or determine if it makes sense for you to buy a home this year.

01/09/2024

Interesting chart showing the price per square foot in 37922, since 2019. Covid-induced, or the new norm - what say you?

01/05/2024

Selling a home? Here's when (and how) you get your dough!

Home sellers these days have a right to be smug about how much their home is worth compared to — perhaps — ten years ago, or even five years ago. Chances are good that...

01/05/2024

Jobs report surprised to the upside (bad for rates) but ISM Services (non-manufacturing) came in lower, which cancelled out the jobs report. Rates have paused their downward momentum, but nothing in the markets ever moves in a straight line. The overall trend is still down.

Non Farm Payroll adds (NFP) for December was hotter than expected, 216K versus estimates of 170K...

12/15/2023

Despite Fed member John Williams cranky comments this morning, it's reasonable to assume the Fed will cut rates 4-6 times in 2024 based on their current "dot plot".

12/13/2023

For any of my economic-minded friends, the Fed statement today did two things - 1) did not hike, and 2) they finally backed off the "talk tough" language about using further rate hikes if needed to tame inflation.

They actually acknowledged that economic growth has slowed, which most everyone has been telling folks all along.

Today's statement was HELPFUL for mortgage interest rates, and should continue the downward momentum we've seen over the course of the past several weeks.

11/20/2023

Lower rates ahead?

According to a government report released on Tuesday, inflation is finally falling, and millions of homebuyers’ and home sellers’ fingers are crossed hoping mortgage rates might be close behind...

11/16/2023

This is one of those key indicators I’ve been mentioning, that is now moving in a way beneficial to mortgage rates.

Initial Weekly Jobless Claims were higher than expected, 231K versus estimates of 220K. The more closely watched 4 week moving average increased to...