Avantgarde Lending

02/12/2024

https://www.forbes.com/sites/forbesfinancecouncil/2023/03/09/the-future-of-mortgage-lending-how-ai-and-humans-can-coexist/amp/

AI cannot fully replace the all-important human relationships between advisors and customers.

09/13/2022

A common misconception with the adage “If you’re not growing, you’re dying” is that growth is the ultimate goal. To be bigger and better than the next guy is NOT the objective.

True evolution is not growth for growth’s sake. It’s easy for organizations to lose focus and forget that we’re not competing with other contenders in the industry. They are not our opponents.

It’s a waste of time to compare ourselves or compete with other businesses. We compete with ourselves at our best and find ways to keep striving toward that mission.

We don’t embrace growth for growth’s sake, especially in this market. Still, we look at how we can grow in ways that help us serve our communities for the long-term without putting our teams and individuals at risk through downsizing, culture fit issues, or dissatisfaction because they feel their voices drowned out.

We want to grow the organization, but it has to be worth the investment; the hardest and most important part of the equation is protecting the culture as we grow and evolve.

How are you continuing to grow despite what's happening in our industry?

09/12/2022

During a light week for economic data, investors were focused on U.S. and European central bankers – with no surprises coming from Fed Chair Powell or ECB Chief Lagarde – they remain strongly committed to fighting inflation. Mortgage rates ended the week with little change.

To combat decades-high inflation, the ECB raised interest rates significantly – by 75 basis points – with another 50 basis points expected at each of the next two meetings.

The most significant economic report released last week from Institute of Supply Management (ISM) provided evidence that consumers are shifting their spending from goods to services. Consumer spending accounts for over 2/3 of the U.S. economic activity and the retail sales data is a key measure of the health of the economy.

03/21/2022

Nearly a week removed from the Fed’s first rate-hike since 2018, the bond markets have reacted similarly as the last few Fed meetings. We saw rates tick up ahead of the meeting and then came down slightly after, with the Fed delivering on their telegraphed increase of .25% in the Fed Fund’s rate. The Fed expressed that they plan on raising the fed funds rate THREE more times and although the federal funds rate and mortgage rates have no direct correlation, it's a benchmark statistic for where they're going and it doesn't look good.

This is all in hopes of countering inflation and stopping people from overpaying on homes. In the last two years we've seen a dramatic rise in home prices and this is an attempt at preventing further rise in home prices and multiple offer situations. I personally don't see how giving less people the ability to afford a home counters inflation, but I can only hope it works. Meanwhile Russia and Ukraine continue to drive volatility within commodity markets. Crude oil, food and precious metals continue to trade at elevated levels and will likely continue to impact near-term inflation readings.

Rates are not only back to where they were pre-covid, they're worse. Rates are steadily increasing at the moment, rates in the mid to high 4's, even very low 5's. Things are looking bleak and with interest rates on the rise, i'm very curious to see how home prices are effected. I'd love to hear your thoughts.

12/24/2021

11/08/2021

https://therealdeal-com.cdn.ampproject.org/c/s/therealdeal.com/la/2021/11/07/big-techs-appetite-for-real-estate-continues-to-grow/amp/

Facebook, Amazon, Apple and Alphabet are purchasing real estate at a furious pace, with 43 closings this year.

09/09/2021

https://www.nbclosangeles.com/news/business/money-report/most-expensive-home-in-america-defaults-on-165-million-in-debt-heads-for-sale/2687908/?fbclid=IwAR3ACVBhAzkAFtgTUGNbedXF7fSoCdH7eszitTblvr0uGBGG_il_aJ1vNGg

The 105,000-square-foot Bel Air estate, known as “The One,” was placed into receivership by the Los Angeles County Superior Court.