The Double Comma Club

Are you looking to purchase a home today, but wish you could have gotten a lower rate on your loan? Well, what if I were to tell you that even though market rates today are hovering around 7%, you can still purchase a home with a 3.5% interest rate or even lower intrigued? Stick around as I go through how that's a very real possibility for today's buyers. I want to quickly answer these top four questions I get asked all the time. Listen for the details and how an assumable loan can benefit buyers and sellers.  What is an assumable loan? Is the contract written differently? How do you know a house has an assumable loan and how do you find them? And then how do you actually acquire it? Example: If I'm a buyer and I bought a house 10 years ago, and at that time I bought that house for $300,000, I put no money down, I got a VA loan and I got a fantastic interest rate. Whatever that rate was, we'll call it 3%. So I got a $300,000 loan, a 3% with a VA loan, no money down. Now, fast forward 10 years. Now I'm a seller, and as a seller, I have a loan and I want to sell that home for $500,000. And I had this original loan at $300,000. I paid it down for the last 10 years. So maybe today it has a balance of $250,000. That $250,000 still has an interest rate tied to it at 3%, and I still have 20 years left on my loan. As a seller, I then have the option to market an assumable loan, meaning a buyer has the option to purchase my home, keeping that loan intact. Now, if I want to sell that home for $500,000 and my loan is $250,000, that implies that the buyer has to either get a loan for the difference, has to have the cash for the difference, and that's something that we're going to talk about when we talk about how to acquire the loan. But the basics of an assumable loan is the terms around that loan stay in place. They simply get transferred from the current seller to the new would-be buyer.

The cost of borrowing of a business, borrowing funds is still going up trying to slow down the spending that Americans and businesses are doing to inflict pain, right? We talked about this, that the Fed is trying to inflict pain. The Fed is trying to slow the roll to just slow down demand, slow down buying and allow supply chains to catch back up again. The cost of everything is just not going to drop like a rock, but it's going to slowly get there where the cost of the things that we experience at the gas station, at the grocery store are going to start coming back to Earth, right? So let me point out a couple things. So the cost of shipping; shippers have already said that they expect to realize a benefit in lower costs early 2023. So we're seeing these indexes that some of the things that's costing them, like the cost of gas is less? Some of their expenses are less. They're expecting that cost to then be passed on to the wholesalers, which will be measured in the PPI early 2023. Again, nothing happens overnight, but check out this drop. We saw 4.9% drop month-over-month, which dropped the annual percentage from 21% in September to 11% in October. Now that's a big drop given where we had been because we had seen it much higher than that, even upwards of 21%. So to see that kind of annual growth coming down tells you that the shippers are going to start passing on lower costs to the producers and the wholesalers and those wholesalers. We saw the PPI came out this morning and it dropped from an 8.4% annualized to an 8% annualized. It was expected to come out at 8.3%. The month-over-month was only 0.2% and that was expected to be 0.4%. So all of that is showing that the annual is coming down because the month-over-month increase is slowing down. So the shipping is costing a little bit less. The cost of shipping, of getting the products from the ports to the fact or to the warehouses. That shipping cost is costing less. The wholesalers, their cost of goods, their cost of acquiring that product to then turn into the consumer based product. So that wholesale price is coming down. We saw on Thursday's report, the CPI came down, it was expected to have a month over month of double what it actually had. The value and the equity that we have in our homes is abundant, even if it comes down slightly based on our expectation of our equity over the last two years. We are still strong in equity. We're strong in savings. Many of us, many  us still have jobs. There's still job openings. GDP is expected to be positive this fourth quarter, which says that the economy is still churning and people are still buying all of these things way towards a strong economy, which is where I'm going to land. This plane also lands to a very strong real estate market. Listen to this full episode. The summary is That's it. That's what it comes down to is the balance of supply and demand.  

Seller Concessions and Rate Buydown Explained Let's walk through how you can actually buy down your interest rate! You can save hundreds, if not thousands of dollars by buying down your interest rate. But, there are some limitations to how much seller concessions you can receive, based on your loan and down payment. Let's also walk through the numbers of buying down your interest rate. Today we're talking about a permanent buy down or really even any kind of seller concession and a limitation on the amount that you can get in order to buy that rate down. For conventional loans, whether you're buying it as a primary home or a second home, we're going talk about investments. With a primary home or second home, it depends on how much money you're putting down. So when you are putting down less, you can get less of a seller credit to help give you that rate. Buy down advantage. Let's talk through some of those numbers. Listen to this 5 minute episode of The Double Comma Club, "Can I Buy Down My Interest Rate?" ----more---- Connect on social media:  Follow me on FB: https://www.facebook.com/theruethteam/  Twitter: https://twitter.com/nicolerueth  LinkedIn: https://www.linkedin.com/company/theruethteam  YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw 

What does a first time home buyer today have that they haven't had for the last two years and might not have next year? The benefits of being a first-time homebuyer in today's real estate market are PLENTIFUL. In this episode I talk about some first-time homebuyer loan programs and opportunities to take advantage of... including getting a lower interest rate! Buyers today can still get a great deal! Let's go through the loan programs first, then the opportunities. Veterans you have by far, the best loan program on the planet, the VA loan with zero down the low interest rates. No mortgage insurance is by far the most stellar opportunity to get into a home. If you are a veteran, you should be exercising that option right now because you haven't had it for the last two years because it was so intense. The USDA is the way for the non-veteran to get in with zero money down. Now, you're going to have an upfront fee, but the monthly mortgage insurance is lower than any other program. So the USDA loan is a fabulous program to bring families out to rural areas to buy single family homes with no money down. Down Payment Assistance. This is a tool that has been underutilized for the last several years, and the reason why is because sellers weren't accepting it. They didn't have to. Buyers were coming in with cash or 20%, 30%, 50% down. Sellers were looking for conventional or a cash buyer with more money. Down. Down payment assistance is for those home buyers looking to expand their opportunity to financial wealth and health through real estate. It is an opportunity to get in when you might not otherwise do so. Now, I will say with a word of caution, if you are using a down payment assistance program and putting no money down or the USDA or the VA, and we see slight pullback still on our home values when you buy a home, it could be that the value of that home goes down slightly before it picks back up again. You can buy a two, three, or four unit property as long as you're going to live in one of the units with as little as 5% down if your income is less than 80% of the area median income.  A Freddie Mac loan. In the Denver market, it got very hard to qualify based on the income requirement, the 80%. So we would look for those underserved areas and we would purchase multi units in those areas. Well, Freddie Mac did away with focusing on or excluding those areas from the income requirements, and they just said, You have to fall within the income requirements.   To hear the rest of the options and opportunities, listen to this episode of The Double Comma Club, "First-Time Homebuyer Advantages in Today's Market."

As we continue to see FED rate increases to slow the economy, we are starting to feel the fear, and it all comes with a price. The price is fear, instability, and job loss. Which in turn creates volatility as markets react to economic reports without the stabilization of a Federal Reserve buying mortgaged-backed securities and treasuries. But, I want to break housing down into four buckets this month: supply, demand, affordability, and credit availability. The housing sector is strong, well-funded and able to withstand short-term volatility. While critics continue to generate fear around instability, crisis, bubbles, foreclosures, and more, our job as real estate professionals is simply to support reality with facts. Listen to your DMAR November Denver Real Estate Market Update! 

Nicole has had a lot of conversations with first-time home buyers making assumptions that aren't correct. So that's what we're talking about today. She is busting eight home-buying myths. Nicole goes through the myth, misplaced logic, and the truth about home buying. There are a couple of them that may really surprise you about being debt-free before you buy, and shopping for the lowest rate to determine your lender. Listen to this episode of The Double Comma Club, "Eight Home Buying Myths." 1. You must put 20% down to buy a home. 2. It's cheaper to rent than to buy. 3. It's cheaper to buy a fixer-upper. 4. You need to be debt-free to purchase a home. 5. All lenders are the same. 6. You should go with the lowest rate. 7. Spring is the best time to buy. 8. Find the home before applying for the loan.  

what is a seller concession? I mean, that's kinda like a dinosaur these days. I haven't seen one of those in several years. So a seller concession is when they agree to provide funds that support the buyer during the transaction. You can bump into a seller concession several times throughout the transaction. Usually, it's in the beginning. A buyer might use a negotiating tactic that says, I'll pay full price, but I'm gonna ask the seller to pay for all of my closing costs and my prepaids allowing me to come to the table with less cash down. They might also negotiate a price reduction in addition to a seller concession. Those are two separate items and can be used in conjunction or separate from one another. A seller concession can also show up during the inspection period where you might choose to not have something fixed, but inline, get money back from the seller again towards prepaids and closing costs or a price reduction. So there's sometimes a conversation right now about a two one buy down or a rate reduction, and that might be a seller concession. I wanna double click on that because a seller concession can only be used towards a fires prepaids and closing costs. There are limits to what a seller can provide, both per the loan that the buyer uses. Learn why it's exciting for buyers for the return of seller concessions in this episode of The Double Comma Club, "What Are Seller Concessions?"

The Froth is Off The Top from the recent history of waking up one day and saying, "You know what I would like to have, I would like to have a backyard with a water feature. There's one down the street, so I'm gonna go buy that one." It depends on who you are and what your goals are and what your finances look like. And that's always the case. I mean, there was in 2021, it wasn't the right time for some people to buy. They just couldn't compete. And so it's really, right now, if you still have the baseline motivations, you want a home for your family, you need to be in a specific school district. You don't wanna be moving your kids every couple of years if your lease is up on your rental and you maybe can't be in the same school district. You wanna have a sense of community, you wanna have a sense of safety. You need home offices and backyards and you have a dog that digs holes and you just can't get a rental. There's things about our lifestyle that are always true regardless of what the market looks like. And when you are at a point and you're ready to buy a house, you just deal with the market that exists when you're ready. And that market is different all the time. And we all like to think we can time the market and I'm gonna buy at the bottom. Well, when you buy at the bottom, it looks like this where we have high interest rates and market volatility and nobody likes that either. So there's always nuances to what that market looks like and how it impacts each person differently. Listen as Nicole's guest, Amanda Snitker weighs the variations of how this market is affecting people depending on wherre they are in their current lifestyle and needs.  ----more---- Find Amanda here: https://amandasnitker.com/ About Amanda: Amanda Snitker has been a Colorado resident for more than 20 years and has lived in the Denver metro area since 2002. She has enjoyed living in the Baker Historic Neighborhood while owning a home built in the early 1900s. Amanda is a third-generation realtor and grew up with a father as a general residential contractor these relationships and knowledge have allowed her to live the Colorado lifestyle, offering credibility and expertise for the process of buying and selling homes to help her clients achieve their dream living experience.

I want to talk about interest. I want to make this all about what's going on with the fear around interest rates. When are they going to come back down? That's a huge question right now, and I'm bringing it up because I'm getting asked that a lot. I was on a Market Trends committee meeting yesterday with DMAR and that also became a debate, whether it was going to be eight months or 24 months from now before we see some sort of drop in interest rates. We have experts on Housing Wire and on Fannie Mae, Freddie Mac and NAR, all confessing some predictions about interest rates. The Federal Reserve has a single mandate at this time. They are typically a two-mandate agency working on the things that people purchase, the price that people purchase things at, which is really inflation controlling the price that Americans pay for the products they buy. And then the second thing is providing a space where those people who want to work can find jobs. This is keeping unemployment low and keeping inflation low. Right now we've got a lot of wage inflation, which is driving up our overall inflation, our core inflation if you will. We've got headline and we've got core, and I'm really talking and focusing on core because headline right now is coming down because gasoline is coming down, but core is staying strong. So as I'm looking at interest rates over the next two to three quarters, I'm really watching employment, specifically unemployment, because when unemployment starts to go up, the feds measure right now, their target is 4.4. Headline inflation一commonly known as the CPI一includes more volatile food and energy price data, whereas the core inflation index excludes it. Headline inflation is better, but core is concerning. There are still core components to inflation that are holding on. The biggest one is wages. The Fed wants to calm wages, they want people lose their jobs and go get another job for less money. They want people to stay unemployed for a short period of time to stop spending. They need demand and supply to come back in check that is going to control inflation and allow it to drop back down again, which is going to help our bonds and our interest rates. It hinges on employment. I still believe that we're not in a recession yet. We're seeing manufacturing slowing down. We're seeing unemployment that went the wrong way. Unemployment has to go up all the things. That is why I think we're going to see interest rates dip at the end of next spring. Listen to the full episode for more details on this logic and insight from Nicole in this episode of The Double Comma Club, "Focus On the Payment, Our Economy Works In Cycles."

Listen to this 4-minute episode with 3 quick tips on how to get rid of your mortgage insurance. It depends on the type of loan, and the current value of your home. But this episode is filled with good news in "3 Ways to Get Rid of Your Mortgage Insurance." 1. Call your servicer to talk about what you just heard in this epsiode. 2. If you can't reach them, reach out to Nicole Rueth at The Rueth Team 303-214-6393 nrueth@theruethteam.com

So you finally got in, but the rate is five, five and a half, six, seven. The down payment assistance is seven, seven and a half. And all of a sudden, it doesn't seem fair, but it's still locked in, right? It's still your mortgage payment that you can count on that isn't going to go up any further. And if anything go down because interest rates will go down. But when, so housing, it's a lock against inflation. It's a fixed mortgage payment. It's huge tax benefits. It's income opportunities. I can rent out a room because there are a lot of people who can't afford to buy. Could I give them access? I just had to purchase a home. I used a 7% interest rate. My payment's a little bit tighter than I would've liked. I'm going to rent out rooms, or I'm going to lock off the basement that might have stairs, and I can create a little kitchenette and create a little lounge area. Can I get creative? Can I add the garage? Can I rent out the garage? Some people are, whether they're doing a hobby, whether they're laying low, they're not going traveling, they just need extra space to do their craft, whatever that is. Or storage, maybe they had to downsize. I've got friends that rent out their garages, right? Can we get creative to offset? You can do that with a home. You can do that with something you own. Not only can you make it your own, but you can also build it out; you can finish it out. You can create a space where you can then create income. The home has a multitude of positives. It has two negatives right now. The interest rates today and home price is going up. Let's talk about those two interest rates today. Where do I think interest rates are going to go? I think we are going to have a volatile last quarter and could be a volatile first quarter of 2023. Many of the economists in the large banks are all thinking that we have not entered into a recession yet. That we might be in one today, but we will start to see a recession where people aren't traveling, aren't going out to eat, aren't paying for services, aren't still spending, and our consumer spending is still up. So if people stop spending, we will head into a recession. If you go back historically, during recessionary periods, interest rates go down, and in fact, homes appreciate minus one back in 1960 when they didn't. I'm not talking about inflation adjusted, I'm talking about HPI home price indexes appreciate in recessionary periods because those interest rates come down. Where do I think interest rates are going to go? Listen to this episode of The Double Comma Club, "Using Current Market Volatility To Your Advantage" to find out.

After July's momentary celebration of 5% interest rates, August ended the month at six, then September just finished having crossed 7%. Only a few months ago, six and a quarter seemed like the absolute ceiling as the US continued its strong stance against the slowing global economy, but that didn't last. We saw European economies bear the brunt of Russia's war on Ukraine. Japan struggling with lower global demand for its manufactured goods and China's economic troubles thanks to its zero Covid policy. All of these strengthen the dollar while creating credible volatility for our mortgage bonds. The fight here in the United States is the fight against inflation. For the last few years, we've seen too many dollars chasing too few goods, pushing the price of those goods up as demand spiked. The Federal Reserve's job now is to constrain the dollar spent. Think about this. 28% of all goods purchased are done with a credit card that doesn't even include car loans, home loans, or business loans. Buying on credit creates money, future money pulled forward, giving you access to a product or service today for payment in the future. For the Fed to control spending, they have to make the cost of borrowing higher, so it creates more pain. At the same time, the benefit of savings has also gone up as the Fed raised its Fed rate or overnight rate. So goes the one-year treasury. The safest of all investments is backed by the federal government. This rate is 4.01% today, which is significantly higher than the long-term average of 2.85% and will increase further after November 2nd.  Listen to the rest of this summary.

The Denver Real Estate Market is still up in price growth. In September, we saw a year-to-date price growth of 12.8%. I get this isn't the 21% increase Y.O.Y we saw in March, but IT IS STILL UP. We have to recognize that a real estate market slowdown does not mean a loss in value, it just means a shift in perspective. In this episode we take a look at the Denver Real Estate Market price growth and what it means for buyers and sellers. ----more---- Nicole Rueth The Rueth Team Powered by OneTrust Home Loans 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth LinkedIn: https://www.linkedin.com/company/theruethteam YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw CalCon Mutual Mortgage LLC, dba OneTrust Home Loans is an Equal Housing Lender NMLS #46375; 3131 Camino Del Rio North Suite 1680, San Diego, CA 92108. Corporate phone (888) 488-3807. For more licensing information, visit https://onetrusthomeloans.com/licensing-information/. This information is to inform the real estate industry only and is not to be provided to consumers. All products are not available in all states. All options are not available on all programs. All programs are subject to borrower and property qualifications. Rates, terms, and conditions are subject to change without notice.

Just because you want a different house doesn't mean you have to wait for the perfect deal in the perfect area to become available. You can, instead, create the home of your dreams, even if it's your first home, a starter home that you will sell later. You can build a home instead of waiting. With home prices climbing and very limited inventory on the market, it may be more difficult to find your perfect home. So, why not just build it? The Rueth Team has new Land and Construction Loans so you can skip the house hunting and build your dream home. Land and construction loans are not only a great option for Primary homes, but for Second Home and Investment Properties as well. There are several loan product options that grant you stability in your rate, while giving you the opportunity to create a home for your family you know you'll enjoy for years to come. ----more---- Nicole Rueth The Rueth Team Powered by OneTrust Home Loans 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth LinkedIn: https://www.linkedin.com/company/theruethteam YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw CalCon Mutual Mortgage LLC, dba OneTrust Home Loans is an Equal Housing Lender NMLS #46375; 3131 Camino Del Rio North Suite 1680, San Diego, CA 92108. Corporate phone (888) 488-3807. For more licensing information visit https://onetrusthomeloans.com/licensing-information/. This information is to inform the real estate industry only and is not to be provided to consumers. All products are not available in all states. All options are not available on all programs. All programs are subject to borrower and property qualifications. Rates, terms, and conditions are subject to change without notice.

So while we were sleeping, we were seeing the European bonds were selling off, which we opened up Monday morning to this bond selloff here in the United States, dropping the bond prices and raising our interest rates. Powell was just in Switzerland trying to speak to the Switzerland bank and convince them that he's got everything under control. I'm gonna debate that right now. I think they were a little late to the party. It's starting to become habitual that he's not really forecasting what's happening because he's looking at metrics that are passed. He's primarily looking at unemployment, which isn't a leading indicator. It's a lagging indicator. He's looking at inflation, which is also looking backward. If you also look at the CPI numbers, the inflation numbers that we're comparing year-over-year inflation to, we're going to start seeing inflation slow down again second quarter next year. And that's because of comparison inflation rates right now we're very low last year, so we're replacing them with high numbers. We're replacing really low numbers and that's keeping inflation high. As those numbers increased last year, that comparison rate is now becoming more in line. We'll start to see that happening in October. So if rates are at seven or above seven depending on, we are seeing a little bit of the bond market revert back from its extreme yesterday. It's like, oh wait a minute, that was the European market that set our markets on fire. It wasn't even anything in the United States. It was a sell-off of bonds in Europe that caused our bond market sell-off the next morning Monday morning. So Powell goes through all of these conversations to say during the last Fed meeting, "I'm going to define what I want to see in a housing correction." A housing correction includes two things from his perspective, those two things are increased housing supply and decreased housing demand. Come on, that was a given. Listen to this complete episode, "How Does the Global Market Movement Influence the US Real Estate Market." ----more---- Nicole Rueth The Rueth Team Powered by OneTrust Home Loans 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB:  https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth LinkedIn: https://www.linkedin.com/company/theruethteam/  YouTube Channel:  https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw  CalCon Mutual Mortgage LLC, dba OneTrust Home Loans is an Equal Housing Lender NMLS #46375; 3131 Camino Del Rio North Suite 1680, San Diego, CA 92108. Corporate phone (888) 488-3807. For more licensing information visit https://onetrusthomeloans.com/licensing-information. This information is to inform the real estate industry only and is not to be provided to consumers. All products are not available in all states. All options are not available on all programs. All programs are subject to borrower and property qualifications. Rates, terms, and conditions are subject to change without notice.

Are we in a recession? Can the recession just get here?! We have been talking about the looming recession long enough, and I'm ready for it to happen so we can just move on!  It seems like the more we continue talking about a recession, the scarier it gets for consumers! Unfortunately, we still aren't there yet. We know that it's coming as the FED continues to take big action to control inflation and stop consumer spending. BUT HOW MUCH LONGER? BONUS #SHORTS What's My Interest Rate? The question Nicole is asked more than just about any other. The answer usually starts out the same, "It depends..."   Nicole Rueth The Rueth Team Powered by OneTrust Home Loans 750 W Hampden Avenue, Suite 500  Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media:  Follow me on FB: https://www.facebook.com/theruethteam/  Twitter: https://twitter.com/nicolerueth  LinkedIn: https://www.linkedin.com/company/theruethteam  YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw  CalCon Mutual Mortgage LLC, dba OneTrust Home Loans is an Equal Housing Lender NMLS #46375; 3131 Camino Del Rio North Suite 1680, San Diego, CA 92108. Corporate phone (888) 488-3807. For more licensing information visit  https://onetrusthomeloans.com/licensing-information/.  This information is to inform the real estate industry only and is not to be provided to consumers. All products are not available in all states. All options are not available on all programs. All programs are subject to borrower and property qualifications. Rates, terms, and conditions are subject to change without notice.  

What is happening with interest rates? Realtors' businesses are picking up steam, even though we know rates are ticking up. The 10-yr Treasury just hit a high since 2011 (3.51%), and Sweden just raised their bank rate by 100BPS last night! As the FED gears up to meet again and controlling inflation remains top of mind, they've got a .75-1% FED rate increase on the table. We know the recession is coming, and the FED is trying to fast-track it so that consumers will finally stop spending! But if realtors are seeing a pick-up and are anticipating a solid October, WHY?  Employers calling employees back to work Employees finding another job (getting an average 10% raise) First-time home buyers seeing the opportunity Investors Some of what you'll learn in this 18 minute episode includes: "If I purchase a median home last month in August, the median DMAR 11-county area home price was $579,900. I buy a $579,900 home with 5% down, I'm putting down $28,995. If I get a 6% interest rate and I get a 3.8% appreciation because that's what Core Logic is expecting that we're going to see for the next year forward, 3.8%, not the crazy double digits that we've seen. Historically before the pandemic, the United States appreciated 3.6%. So we're returning back to normal. So if I have a 3.8% appreciation in five years, I have a gain. If that stays consistent with principal reduction every single year, knocking down my loan amount and a little bit an increase in value of 3.8% because I only put a limited number amount down and the power of leverage. I have the opportunity of that entire home value going up at the purchase price, not my down payment. That's going to give me a net worth of $161,000. I can't make that in the stock market in the next five years, unless your chooser is spot on because mine's broken. I can't make $161,000 in the next five years. And even if we see a dip and a slowdown, which again, because we have so limited supply, but even if the whole secret is don't sell, don't sell. Hold on through the dip and for the next five years. And that's where you're going to regain this opportunity. In fact, year one with a 3.8% appreciation and the principal reduction based on a 6% interest rate, I actually make a 102% on my down payment. I put down $28,995. I'm going to net out in equity gain $29,588. That's just math, right? That's not a motion. That's just math."  

Co-Signing can be an excellent option for increasing borrower qualifications and eligibility. But, it's also a big commitment that shouldn't be entered into without full knowledge of the responsibilities. Here's a breakdown of the responsibilities a co-signer carries and how a co-signer can later be removed from a loan. ----more---- Nicole Rueth The Rueth Team Powered by OneTrust Home Loans 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth LinkedIn: https://www.linkedin.com/company/theruethteam YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw CalCon Mutual Mortgage LLC, dba OneTrust Home Loans is an Equal Housing Lender NMLS #46375; 3131 Camino Del Rio North Suite 1680, San Diego, CA 92108. Corporate phone (888) 488-3807. For more licensing information, visit https://onetrusthomeloans.com/licensing-information/. This information is to inform the real estate industry only and is not to be provided to consumers. All products are not available in all states. All options are not available on all programs. All programs are subject to borrower and property qualifications. Rates, terms, and conditions are subject to change without notice.

There's good news for homebuyers! I understand that affordability is being put to the test. We just saw a 44% increase in prices and a 3% increase in interest rates. We also just saw the new conforming loan limit increase to $715,000! This is HUGE! The current conforming loan limit is $647,200, meaning those homebuyers that might not qualify for a jumbo loan or need a quicker close now have the means to make it happen! Much more of the market now falls within this conforming loan limit. Along with the good news, there is some bad news. Inventory is decreasing. But let's not panic. This is seasonal. It typically starts to turn the corner in October, but we saw that much earlier with the rise in interest rates. The opportunity for homebuyers is less demand and a higher conforming loan limit.    ----more---- An excerpt from this episode: So the good news for home buyers today is the ability that we do still have a decent amount of inventory today that will shrink as we head towards the end of the year. And we're going to see things change. As we see the economy go into a recession and as we see interest rates possibly stabilize and, or even go down later into 2023, as we do enter into a recession, we could see that demand pick up again, putting pressure on limited inventory and increasing home prices even further. But people keep talking about this bust. What is happening around real estate? Are we in a recession? Lawrence June said that we're in a housing recession because we've seen six months of existing home sales down; NAHB, the home builders association, is saying that we're in a housing recession because they're seeing their permits and starts down. Completions are up as they're rolling off inventory. So bad news, bad news is this inventory because as much as people are talking about a housing bubble or bust or decrease in prices, yes, we are seeing home prices. 40% of them coming off their original asking before they sell, becoming more realistic on their opportunities to sell that home, right? Not for what their neighbors sold for two months ago, but for what the market is calling for today, while we're seeing home sellers, reducing prices, we are not seeing loss in value. We are seeing those values come back in line, back towards our historic numbers. Do you know that the historical average of appreciation nationwide is 3.6%? Our average price growth here in the DMAR Metro is 6%. We've been well above that for a long time. We just put out a post yesterday that talked about the fact that even if I have a 3.9%, which is what it ticked up to 3.6 to 3.9 after 20 twenty's appreciation even higher than that after 2021. But even if we saw a 3.9% historical appreciation for the next five years, we're still talking about equity growth for homeowners over the next five years of close to $150,000 real estate is a long-term play. It is an equity opportunity that continues to be around. Knowing that short term, we've got a little opportunity to buyers to get in with a higher loan limit, to squeeze in with more inspection items possibly on that objection, right? Getting it at or below is good news for home buyers. Affordability is obviously the bad news for home buyers, but homeowners continue to have the best news. Unless you have a homeowner who's looking to sell and wants top dollar, the top dollar they could have gotten in April and don't wanna become more realistic about what the numbers look like today. That might be bad news for home sellers, but homeowners have nothing but equity gains. Nicole Rueth The Rueth Team Powered by OneTrust Home Loans 750 W Hampden Avenue, Suite 500  Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com  Connect on social media:  Follow me on FB: https://www.facebook.com/theruethteam/  Twitter: https://twitter.com/nicolerueth  Linkedin: https://www.linkedin.com/company/theruethteam  YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw  CalCon Mutual Mortgage LLC, dba OneTrust Home Loans is an Equal Housing Lender NMLS #46375 3131 Camino Del Rio North Suite 1680, San Diego, CA 92108. Corporate phone (888) 488-3807. For more licensing information visit: https://onetrusthomeloans.com/licensing-information/.  This information is to inform the real estate industry only and is not to be provided to consumers. All products are not available in all states. All options are not available on all programs. All programs are subject to borrower and property qualifications. Rates, terms and conditions are subject to change without notice.

Historically the best forecasters have been able to consistently recognize that we are in a recession. Once we are actually in one to preemptively determine its onset has riddled economists for decades. Yet, an AR is Lawrence soon called a recession in August when he said, "In terms of economic impact, we are surely in a housing recession." A recession is defined by Oxford is a period of temporary economic decline during which trade and industrial activity are reduced. This is generally defined by a fall in GDP for two consecutive quarters. This definition has then been further clarified by the National Bureau of Economic Research to a significant decline in economic activity.  Active listings while almost double last year, they've started their seasonal downward slope towards December by dropping 5.7% month over month, new listings peak a few months early this year dropping another 18.5%. This month, median and average home prices have also seen a steady slowdown from well over 20% earlier this year to 6.8% average and 8.5% median year-over-year increase in August. Days in the MLS grew from six median days to 11 and close to list dropped to 99.41%. Year-to-date new listings and home sales are behind 2018 and 2019 by approximately 8%, showing that both sellers and buyers are moving slower, not just than the pandemic frenzy but also the pre-pandemic seasonality. The slowing has come primarily from the rapid rise of mortgage interest rates increasing the monthly cost to purchase August saw more than its share of volatility. Think of a child you've been giving Tootsie Rolls to for over an hour to keep him quiet during your very important meeting. How justified is the pain that child ensues as he works his way off the sugar rush? Justified or not, inflation must be tamed, and it will cause pain, but that pain is relative. It's relative to the specific household and the specific industry. ADP's August employment report also showed pay increases nationwide for those who stayed on their job by 7.6%, and up for 16.1%; for those who got new jobs, consumer sentiment even increased this month by 13% due to a 59% surge in the year ahead. Outlook for the economy? Consumers are feeling good about inflation, getting tamed jobs secured and a quick economic recovery. All of this comes back to defining a housing recession. Lawrence said it best, "It is a difficult market for those selling homes and for home builders. But homeowners continue to accumulate housing wealth from rising home prices." I will concede through the definition of a housing recession by slowing the sales cycle, but with builders, not building, homeowners locked into rates not likely to be seen again, and baby boomers aging in place, inventory will not right size for a very long time. If ever this lack of inventory will keep home prices increasing over 27 trillion in homeowner, equity will keep homeowners from having to sell at a loss wage increases will keep buyers able to purchase. This is Nicole Ruth with The Rueth Team, now the proud and excited newest member of the OneTrust Home Loans, family. It's my pleasure to keep you updated. Listen to the full 9-minute episode to get more detailed comparisons and statistics.  

We just experienced a HOT real estate market that left homebuyers who couldn't afford to pay $50,000 - $100,000 over the asking price with little chance of getting into a home. While home prices and interest rates seemed to skyrocket, home affordability was challenged, pushing many prospective buyers out of the market. But does that still hold true today? Is home affordability gone? Can you save money and try to purchase a home? Nicole Rueth, SVP The Rueth Team 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth Linkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/ YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw Nicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/. AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.  

What is the difference between Pre Qualified and Pre Approved? #shorts Foreclosures are up 150%! Okay, they are but let's take a step back. They're up 150% from 1 year ago when there was a FORECLOSURE MORATORIUM you couldn't even do one! They are shooting up from extremely low lows, and many are still working their way through the system from pre-pandemic! This IS NOT a cause for panic nor a sign of a housing crisis. All hope is not lost if your appraisal comes in low! You or your realtor can do a Reconsideration of Value. This allows you to present other comparables to your appraiser to see if the value can be increased, and 15%-20% of the time, IT IS! Headlines say that Mortgage Demand has dipped to an "all-time low." But let's tear this apart for a minute. Mortgage Applications include both Refinance AND Purchase Apps! Furthermore, the Refinance Apps are the big chunk of this, as they're down 82% YOY, while Purchase Applications are only down 18% YOY.  I understand buyers are dealing with affordability, but they're still out there! Sellers, if your home is staged right and priced right, there is a buyer for your home.   Nicole Rueth, SVP The Rueth Team 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth Linkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/ YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw Nicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/. AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.  

Investing in the Denver Real Estate Market TODAY. Nicole chatted with realtor, friend and fellow investor Christie Metoyer of Live.Laugh.Denver Real Estate and Rent today about purchasing her 3rd investment property and how real estate investing has changed her life! She says what blows most first time homebuyers away is the fact you do not need 20% down to buy a home in this market. Listen to more reveals in this episode. You can also catch the video version here - while you're there, subscribe to The Rueth Team's YouTube channel. https://www.youtube.com/watch?v=ityXriu79BI   Nicole Rueth, SVP The Rueth Team 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth Linkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/ YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw Nicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/. AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.  

Real estate is a long-term game. Nicole says it time and time again... it's not about money, it's about options. Investing in real estate opens up doors and options down the road that can lead to stability and financial success. While it may seem like a shot in the dark, real estate always goes up. The sooner you can capitalize on the benefits real estate gives you TODAY, the sooner you can build multi-generational wealth. In this episode Nicole compares her experience when she got started investing in real estate in 2009's market with today's. She'll tell you her story and the logic behind continuing to add doors to her portfolio.    Nicole Rueth, SVP The Rueth Team 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth Linkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/ YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw Nicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/. AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.  

What's Next for the Housing Market? Is it BOOM OR GLOOM? We've experienced an incredibly volatile housing market over the last two years. It was full of huge equity gains, rising home prices, and little inventory. So, what's next for the housing market?! Is the housing market going to crash? Will we enter into a recession? What happens to housing in a recession? Is now still a good time to buy a home? I hope this episode answers a lot of your questions and will help show you that the housing market is still strong!   Nicole Rueth, SVP The Rueth Team 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth Linkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/ YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw Nicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/. AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.  

A recession is always coming, it's just a matter of time.  It's purely the nature of a cyclical economy. “Are we in a recession” searches continue to hit record levels on Google, and talk of a housing recession has some counting on the bubble to burst.  With more inventory and all other numbers lower across the board, it's starting to look like a recession, or, maybe it's just the slowdown we've all been hoping for. A recession does not equal a housing bubble.  While there will be layoffs, slowed production, and a softening in consumer spending, Americans are coming into this recession with $2 trillion in savings and twice the home equity there was in 2006. Colorado is also protected by having 38% of homes owned free and clear, only 1.7% of mortgaged homes delinquent, and a current foreclosure rate of 0.1%.  If home prices continue to slow, as I expect they could during the second half of 2022, recent buyers might lose a little value, some homeowners might even need to sell quickly, but most will simply not sell.  Knowing that as rates drop, as they consistently do during recessions, pent-up demand will reengage with our limited supply, forcing multiple bids and yet again higher prices.  Institutions, first-time home buyers, and those who have been waiting will all be ready to buy on these dips. And since we have not yet achieved an inventory level that could comfortably sustain a surge in demand, the thought of a housing bubble eludes me.       Nicole Rueth, SVP The Rueth Team 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth Linkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/ YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw Nicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/. AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.  

Another question in this episode is, "What if there's a grow house in the garage?" The guidelines for appraisals vary depending on who the lender is, whether it's Fannie, Freddie, VA, FHA, or Conventional. Nicole's guest is Paul Cress, AVP of Staff Appraisal Operations for Frisco Lender Services (FLS). Nicole asked him, "So what brings that volatility, and what eases it overall?" Paul told her, "Lately the reason it's eased is that interest rates have dropped, demand. It's simple supply and demand. Realistically, over the past three years, property values have risen more than they have at any other time in history. That's due to increased demand and decreased supply. It's caused quite a market stir where realistically, the purchase demand can't be caught up with, and appraisals are done in retrospect, they're a flash in time. And when you're looking back even weeks or days, and trying to keep up with this market, that's increasing day over day. That's what really caused the stir in the market and values to become undervalued or, become under what the contract price was.  Nicole pressed, "If I have a buyer willing to pay an amount of money for a house, even if it's over asking price, isn't that the market value?" You'll have to tune in to hear his answer, the issue of ADUs, grow rooms, and how much adding a rental unit can add to your home value.   Nicole Rueth, SVP The Rueth Team 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth Linkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/ YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw Nicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/. AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.  

1. Lock and Shop This is where you can hold the rate for 90 days, with the option to extend it for 30 more while you are under contract. If rates go up, you are locked in, if they go down, we can renegotiate the rate. 2. TBD Underwrite This goes hand in hand with Lock and Shop. We gather all of your information, submit it to an underwriter, and then you can be fully underwritten and are viewed as being the same as a cash offer. Some of these transactions are closed in 8-10 days.  3. Knowing Your Needs vs. Wants Once you have that defined and the first two steps handled, you can move quickly to secure your home.   Nicole Rueth, SVP The Rueth Team 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth Linkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/ YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw Nicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/. AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.  

We are still seeing a lot of market volatility and with the FED meeting this week, everyone is praying that they will just control inflation! But, interest rates DROPPED. There is a window of opportunity to take advantage of as a homebuyer, and we have a program that can help you lock in at these lower rates! While you're at it, look at gas prices and go fill up, TODAY!   Nicole Rueth, SVP The Rueth Team 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth Linkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/ YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw Nicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/. AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.  

In a tough market flooded with negative headlines, it can be an uphill battle trying to convince clients that now is still a good time to buy! The truth is that we don't know when a recession will happen, or what the extent will be? How much further interest rates will rise? When they will fall?  How much will they fall? The list goes on and on. And it's scary, I get that. The unknown always is. But here's what we do know: Housing goes up in the long term There are refinance opportunities when rates come down Owning real estate gives you financial stability and opens up options in the future Don't forget to join Agent Ignite https://www.theruethteam.com/agents/ignite-training/    Nicole Rueth, SVP The Rueth Team 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth Linkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/ YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw Nicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/. AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.  

I know higher interest rates are stressing affordability and pushing buyers to sit on the fence. But, what if I told you that a higher rate could actually SAVE CLIENTS' MONEY? You'd probably think it's a trick! But it's not, it's perspective. You are marrying the house,   but you are dating the rates. *CORRECTION... The comparison rate used in my calculation from March of 2021 with the $675,000 loan amount was 4.625% not 4.25%. My apologies for my error; but my position on perspective stands.    Nicole Rueth, SVP The Rueth Team 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth Linkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/ YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw Nicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/. AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.  

Fed Chair Powell stated the Fed is creating a "bridge period" of "demand exhaustion".   This is being interpreted as the Federal Reserve is killing the housing market.  I get it.  But what I see is first-time home buyers getting the reset, the break they've been needing and asking for.  Plus, with the housing market as strong as it is... it's hard to justify a bust coming. I guess it's all how you look at it. Please know: The Fed Rate and mortgage rate are not sisters, but they are cousins. This is what's been happening with the greed of home sellers, the FHFA, and banks. Buyers are struggling more so than ever before. Cancelations have gone way up because of the higher interest rates. Policies have come out that devastated pricing. There is an increase of inventory - double of last year - but it's way below normal balanced markets.  We're not going to see a massive drop in prices, people will just stop selling. It's all about perspective. Buyers have to be reminded of the strength in our housing market and that there is still opportunity!   Nicole Rueth, SVP The Rueth Team 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth Linkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/ YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw Nicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/. AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.  

Inventory exceeded demand in June for the first time since the same month in 2020. Spiking 94% year-over-year and 66% month-over-month.  Price reductions, according to Redfin, increased to 40% of homes on the market in Denver.  If the story ended there, it might concern me.  Sellers flooding the market giving homes away at discounted prices. But the story is much different than that.  June ended the first half of a transitional 2022 and it did so with a bang.  Cryptocurrency is down 60%; the stock market had its worst first half of a year since 1970, inflation hit a 41-year high and housing.. well, so far this year, housing is up 16.5%. 2022 year-to-date median price growth is only 1% lower than we experienced during the first half of 2021.   With all this inventory, though, buyers and sellers “feel” like it shifted to a buyers' market. Get the full story in this episode of The Double Comma Club, "Inventory is double last year, but it is not enough."   Nicole Rueth, SVP The Rueth Team 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth Linkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/ YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw Nicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/. AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.  

There's so much strength and opportunity in our housing market today, but many buyers are still struggling to get in. Home prices are going up, along with rents, and interest rates remain in flux. But, you can't time the market! Purchasing a home is a big commitment, but buyers have to be able to see the long-term benefits that come with home ownership. Three ways YOU can get into the market TODAY are: 1) Down Payment Assistance 2) Gifts 3) Renovation Loans. If you are looking for a property in Denver Metro to renovate, we have a few for you through our office: 13361 Randolph Pl, Denver, CO 80239 840 Linley Ct, Denver, CO 80204 14723 March Dr, Denver, CO 80239 7855 Vallejo St, Denver, CO 80221 141 Utica St, Denver, CO 80219 5102 W Custer Pl, Denver, CO 80219 2300 S Galapago St, Denver, CO 80223 3630 Niagara St, Denver, CO 80207 3038 S Gray St, Denver, CO 80227   Nicole Rueth, SVP The Rueth Team 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth Linkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/ YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw Nicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/. AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.  

This is a really detailed episode about a new interactive software tool. Nicole explains here. At the end of this post you will have a link for the interactive view of this tool she discusses. Here's a bit of what is covered in this episode. Interest rates and home prices have gone up. We know that. And not only is it a question of affordability, but now it's also a buyer's discernment on whether or not that home or buying now is the right choice. Sellers are feeling this. They've been on the market for longer than we are used to. We got spoiled over the last couple of years. Sellers did with very quick turn times, very quick to go under contract. And so now, even though we're nowhere near normal with less than a month of inventory, it feels slow. So I wanted to propose a couple of alternatives and actually show the differences between those alternatives and options, both for a seller who's going to market and how do they want to list their home? And as a buyer, how can I strategize the best payment option for me right now? Whether what is more, most important to me? Is it cash to close? Is it the monthly payment? Is it the adjustment period? And then do I expect in a recessionary period that interest rates will go down because I want to start here before I get into the matrix that I'm showing you. This is a little bit of a different video that we typically send out on Wednesdays, because I want to give you a tool. This tool is clickable. You can actually open it up rummage around and look at the alternatives and request a strategy session so that we can set this up for your listing or for your specific buyer parameters. But I want to talk first just for a second on ARM, because that option is not going to be described here. I'm going to go over going through and buying a home with 10% down, buying a home capitalizing on a two, one buy down capitalizing on maybe a seller credit for a permanent buy down or discount points to pay, to reduce the rate, or should a seller have to reduce their price to get it to move. But what I don't show is ARMs simply because there are four columns and not five. So there you have it, but I do want to say that arms are going to work very similar. In fact, for the two, one buy down, category, I used the model within this tool for an ARM. So we could switch this based on the kind of ARM that you're looking at, whether it's a five-year, seven-year, 10-year ARM, and then what the parameters are for the movement of that ARM. The one risk that I want to present with ARMs, that the two, one buy down protects you against is what if, what if rates don't go down. The third number on an ARM talks about what is the maximum that ARM can go up. And a lot of times it's got a five in it or a four. So if today's interest rate for you for that ARM is four and a half, and the last number on your ARM parameters is a five. That means that that loan could go up to nine and a half percent. Would that wreck your budget? We're all counting on a recession and on lower interest rates, but do you need a plan B? So let's talk about these four options and consider a two, one, a two, one buy-down option instead of an ARM. They go hand in hand and they can trade out for one another. Want to access the interactive software? FOLLOW THIS LINK: https://bit.ly/3ucAWLj Nicole will be narrating it with the same information in this episode, but you'll be able to click some of the items to get more details as you follow along. Any questions, please call her: 303-214-6393   Nicole Rueth, SVP The Rueth Team 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth Linkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/ YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw Nicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/. AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.  

Now I know there have been headlines that the average rent in Denver has gone over $2000. It really just depends on what survey you're looking at. Either way, rents continue to go up. That's not going to slow down. As investors are paying more for their properties, they're going to be renting out for more. And those investors that bought properties 10, 20, 30 years ago are going keep up with the market rent. Ashleigh Gutierrez joins Nicole for this episode. Ashleigh's rent right now is $1705. And then she pays for a garage space, which is an extra $150. With everything all in, she is paying around $2,000 a month for rent. Here are the numbers for the story in this episode. $300,000 asking price. She paid $331,000 to lock it in. 3% down. Monthly payment of $1,999 plus insurance, taxes $2,500. It's more than rent, but she's now building wealth and paying her OWN mortgage, rather than her landlord's.  Listen to this story and a few more in this episode, Buying a  Home Today - Why I Shouldn't Rent.   Nicole Rueth, SVP The Rueth Team 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth Linkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/ YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw Nicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/. AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.  

These three shorts give a quick explanation and ways you can reduce your debt-to-income ratio. This episode covers: What is Debt to Income Ratio?, What are the debts included in your DTI?, and How to Optimize Your DTI. We hope you find these quick explanations and suggestions helpful. They go great with the longer episodes here: What You Need to Know About Debt to Income Ratio Why is Debt to Income Ratio Important When Buying a Home?   Nicole Rueth, SVP The Rueth Team 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth Linkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/ YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw Nicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/. AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.  

You can get an appraisal waiver and you can have an appraisal waiver. I wanna give everyone an appraisal waiver. It just doesn't quite work like that. Of course, there's a lot of talk about getting appraisal waivers, especially in a competitive market like today. So what is an appraisal waiver and what do you get to do once you have one? An appraisal waiver is something that's given by an automated underwriting system by Fannie Mae or Freddie Mac. So that implies that you can only get an appraisal waiver on a conventional loan. And that's true. You can't get an appraisal waiver on a jumbo loan, an FHA loan or a VA loan, but if you are putting 20% down or more on a primary home purchase and you have a good credit profile, there's a possibility that you could get an appraisal waiver. It also is dependent on the property that home needs to be in either Fannie Mae or Freddie Mac database, meaning that maybe the current seller or a previous homeowner of that home had gotten a conventional loan. So if you're going out and you're purchasing a primary home and you want to know more about how appraisals appraisal waivers work and how you can get one, then you need to give me a call. We'd not only love to go to work for you. We'd love to put you in the most competitive position you can be when putting in your offer.   Nicole Rueth, SVP The Rueth Team 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth Linkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/ YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw Nicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/. AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.  

Strap in, this is a long one!  Last week the CPI came out not as expected. The percentage doesn't matter as much as the DIRECTION... it went up! This threw the market for a loop. Interest rates did increase and now the headlines are making you believe we are going into depression. WE ARE STILL IN A STRONG HOUSING MARKET. The likelihood of massive job loss and massive loss in the stock market is not likely... granted it may feel like it today. Interest rates increased from 5.5% last Thursday to 6.18% yesterday. As we go into FED week, the market was expecting a 50bp increase. However, with the increase in CPI, the FED may be forced to increase that rate even more. That possibility of change is what makes the market react. The market likes knowing what is going to happen. So when the possibility of change looms, it begins to move. Bottom line is that rates went up for several reasons, but we remain part of an incredibly strong real estate market. I want to talk about the interest rates first because they went from 5.5 on Thursday to 6.18% on Monday 5.5% . That is a massive jump. Especially if you are watching my live session. I said, hurry up and get under contract, take advantage of the interest rates that we have today because next week we're going into the fed. Now, even when interest rates started to go up, a lot of people are asking me how high do you think, they could go? And I was like six and a quarter, right? So we're here. We're at 6.25%. We made it, do we go much higher? I don't know. I don't know because the fed where we're at right now is a little bit unchartered. We've got this quantitative tightening that's happening and how aggressive the fed, uh, goes, is going to push interest rates. But what interest rates are doing right now is squelching demand. It's authentic demand reduction. Listen to this episode as I also cover the continuing reasons the housing market is so strong. GET IN NOW!

You can now use the income on an auxiliary dwelling unit to qualify to purchase or rate and term refinance your home. Well, that is a game-changer, especially for people who have an investor's mindset. How can I optimize the home I'm living in? Can I look at buying a two-unit, a three or four-unit, a single-family, a rentable basement? Well, those auxiliary dwelling units, those separate buildings in the backyard. They were not a legal unit. Now they do have to be permitted right and zoned properly. But those auxiliary dwelling units were just that they were an auxiliary dwelling unit, whether they were apartments above a garage or self-standing buildings in the backyard, but they weren't a legal unit. It's not like it was a duplex. It's a single-family home with an ADU. That ADU income had not been able to be used when qualifying for a purchase price or a loan amount.   Well, that just changed. That literally is a game-changer. Now I can afford more say I'm a first-time home buyer and I'm maxed out at $600,000 purchase price. If there's an ADU in the backyard and the market rents on that are $1,500. Now I'm not maxed out at $600,000 anymore. Now I can qualify for a $711,000 purchase price by putting 10% down. Those kinds of numbers need to be explored, especially given today's market with rising and rising home prices where people know you need to get in. You need to stop paying rent and start building your own equity. And that auxiliary dwelling unit will do two things for you. Now it'll help you qualify for more and put money in your pocket so that you can save for the next one. If you want to know more information, know exactly how much you can qualify for, please call me - 303-214-6393.

With the Denver market up 123%, since its peak in 2006, we have amazing wealth in equity. How do you tap into that wealth of equity, where you can give a gift of equity to your children, or to other family members? We can transfer wealth through real estate using gifts of equity. So what does that mean? And maybe what are some of the limitations with that?  Let's say I want to sell a home for market value. That home is $800,000 and I own that home and maybe I own that home outright, and I want to give it to my kid. I want to give them a head start and I want some money out of that home, but I don't need all $800,000 and I want to give them a head start. Maybe it's a grandchild or a niece or a nephew, and you want to give them the opportunity, maybe an opportunity you never had. You can do that with real estate. You can give them that gift of equity. If the market value of that home is $800,000. I can sell it to them for $800,000, but then give them a gift of equity of whatever you want. 5%, 10%, 20%, a dollar amount, maybe it's $200,000. That means as a receiver, maybe as, as your kid or as your niece or nephew or grandchild, I can get a loan for the $600,000 and not bring any money to the table. Maybe I'm just starting out with my career. I don't have a lot of money saved, but I have a good job. I can qualify for the $600,000. You just gave me such a blessing and such a head start, but I need to know there are some limitations, depending on the loan program I use first off, it has to be a family member. FHA does allow gifts that are either from a close friend or an employer, even, but in this case, a gift of equity, not just a gift of a check, needs to come from a family member. FHA also has another hook. If you have a credit score under 600, you cannot receive a gift of equity as your down payment. You have to still bring your down payment. So that's something that needs to be considered, and certainly may be a reason to get into our free credit optimization program. So let's talk about VA because VA has a benefit that if I can put a little money down. You get a reduced funding fee. Now, if you have any disability, you have no funding fee. So that becomes irrelevant. But if you're not disabled, you have a funding fee. And if you put 5% down or more, that funding fee is reduced. A gift of equity does not go towards that. You will still pay whatever the full funding fee is for your situation. Conventional, conventional has a situation where the borrower typically needs to bring their own minimum funds. A lot of times that's 5% or even 3% for first-time home buyers. The gift of equity needs to be a minimum of 20% down in order for the buyer not to bring any of their own money. FHA and VA don't require that the gift can be just the minimum down, but in the case of conventional, the buyer still has to bring, say 5% down. If the giver of the gift is only giving 10%, but if the gift is more than 20% of the purchase price, the buyer can bring no money of their own. So there are some fantastic opportunities in today's real estate market to continue generational wealth. If you want to know more about gifts of equity, I would love to sit down and talk through a program and a solution with you. We'd love to go to work for you

Everybody's starting to look at the fact that more homes are now going are, are reducing their price before sale. I talked about this in the DMAR report that we just did last week in the video talking about the fact that those people that had to do a price reduction were on the market for an average of 28 days. That is a massively long time compared to what we've been feeling and how fast the market has been moving nationally. That number is up to 24% of homes are discounting their price before they sell. Historically, that number is at a third 33%. We are still well below normal. And when we get to normal, it won't even feel like normal because we've been so fast for so long. Keep everything in perspective. Yes. I know interest rates are high and yes, I know home prices are high, but appreciation will continue because demand is going to continue. Existing homes cannot fill all the gaps in the past. Somebody had sold a home and purchased a home. Now they're holding onto that home and they're converting into a rental. Now they're keeping it in the family and selling it to a family member with a gift of equity. They are maintaining the home or they're aging in place. They're taking that equity. They're pulling some of that equity out and they're converting that home into a rental property and buying the next primary home with the equity that they've pulled out of it. That's what we're seeing a lot of in this market. We need to see more turnover. Obviously, we're seeing a little more inventory. Fantastic. None of this means that we're going to head into a housing bubble. Interestingly, last week we had several economic indicators. We had the unemployment state flat at 3.6. We had ism manufacturing index came in stronger than expected. Yes, consumer confidence is down, but that's based on the price of everything. Real estate is the best hedge against inflation. We are not headed towards a housing bust, will the economy slow? I hope so will spend slow. I really hope so. Because consumer spending is 70% of the GDP. I hope all of those things happen. I hope appreciation slows down. Would it shock me if we had a 0% appreciation next year, a little bit, a little bit, but I wouldn't be upset about it because I know that the value of my home is holding and that it is a hedge against inflation, the cost of everything. And that rents Listen to this episode for the full summary of the impact.

Months of Inventory for May landed at 0.67% or 20 days.  A balanced market, when supply equals demand, is defined by 6 months of inventory.  Yet, on the street, real estate agents and buyers “feel” like we are headed towards a balanced market.  Close to List came in at 105.33% telling us buyers are still paying more than asking on average.  If you look at over $1 million dollar homes, those went for 107.12% close to list. And median days on market were still a hot 4 days.  Yet some listings had few to no showings their first weekend on market and the median closed price actually dropped 0.24%. 197 more homes sold and 631 more homes went under contract than last month, while 72 fewer homes came on the market to choose from.  Given these numbers it's obvious that the active listings count pulled on the last day of May, on a Tuesday, would jump 14% from last month and 76% from last year giving buyers 3,652 homes to choose from. Right?  Buyer demand as measured by the United States MBA Purchase Index dropped 12.3% during the month of May.  Mortgage purchase applications softened as interest rates hit an average of 5.62% for a 30-year fixed mortgage on May 7th per the Mortgage News Daily survey. Application numbers remained muted even while rates dropped 0.5% during the 2nd half of May. With all the graduations and holidays, did buyers not notice? Buyers and sellers alike are trying to figure out how to time this market.  A market in transition is sending mixed messages. Inventory is still painfully low.  Closing 5,445 units last month means we need 32,670 homes for sale for a balanced market, an unrealistic number given Denver's propensity for being a sellers-market.  I'd be thrilled with even the 10,527 average active listings we've seen in May from 2008 through 2022.  There is a third of that today. But rising inventory will be the tell-tale of an easing market.  And we would expect to see rising inventory given consumer inflation of 8.3% and mortgage rates above 5% should cool buyer demand. Mortgage rates are expected to stay above 5% through 2022 as the Federal Reserve kicks off quantitative tightening on the 1st of June and plans on raising the Fed Rate by 0.5% in June and again in July.  We will know more as the Fed releases their Dot Plot Map at their June meeting; giving us clues as to where they see the Fed Rate going for the rest of 2022 as well as 2023 and 2024.  Many economists expect rates to stay where they are or even go a little higher as inflation continues to prove less transitory and weighted more on longer-lasting wages, housing, and the geopolitical events happening around us. These higher borrowing rates on top of our 18.42% year-to-date higher median closed prices could and should yield us longer days on market, higher active inventory counts, and softer month-over-month price growth as buyers become more decerning and slower to pull the trigger.  Sellers will need to adjust their strategies to continue to attract more buyers.  8.3% of closed transactions this May reduced their asking price prior to receiving an offer.  This compares to 6.9% in May of 2021.  Those properties that reduced their price spent a painful average of 28.4 days in the MLS compared to 7 days for those with no price reductions.  Sellers with homes on busy streets, odd layouts, or deferred maintenance might have missed their winning opportunity.  But for the rest of the sellers, pricing right and staging well will continue to reap rewards given our current months of inventory and close-to-list. Because buyers are still buying and willing to pay a premium.  Despite consumer confidence dipping 2.2 points, retail sales are up 0.9% month-over-month and 8.2% year-over-year.  Luxury sales, travel, and housing are all winners in the eyes of today's buyers.  As the number one hedge against inflation, housing will continue to remain strong even as we move inches towards a balanced market.  Because while the wealthy are spending $195 million on Andy Warhol prints of Marilyn Monroe and $143 million for 1955 vintage Mercedes Benz as hedges, the rest of us can count on a good home continuing to grow at a good pace providing stability and financial security as our hedge against inflation. Until next time, that's a wrap for this month's Market Trends update. It's my pleasure to keep you updated, Nicole Rueth of The Rueth Team of Fairway Mortgage

Historically, we are trying to determine the best direction for us individually and personally. And how do we operate? Because many want to operate out of fear. That is our natural go-to, but those that operate out of opportunity, create doors that open. We were talking about this last Thursday, when we did this ad hoc live talking about this weekend is a door that is opening. It is your choice to go through it. You don't have to, you can continue renting which people will because sales are slightly down and what's the option. Because demographics have not changed. We are still talking about the next two to three years of incredible buyer demand. Mortgage purchase applications are down yet. Demographics have not changed. So if people are operating in fear thinking that interest rates are too high, that I can't get into the home of my dreams, then the alternative is renting. The alternative is a 100% interest rate. The alternative is not building wealth, not creating financial stability and not creating the opportunities for multi-generational wealth. I mean that's it, it boils down to that. I can't say it any clearer. I get that higher interest rates make affordability a big question mark.   What we have is a slowdown today. It isn't about credit deficiencies. It's about consumer confidence. Consumer confidence is down. Yes, it's down. The cost of everything is up. Why wouldn't it be down? It costs more to fill my gas tank. It costs me more for my groceries. Yes. It costs more. My gosh. Have you been to Costco lately? That little basket of goodies is way more than it used to be and my kids are. Listen to the rest of this episode for the reasons why this window is ideal for homebuyers. 

 It's not Tuesday, but I've got news that I want to share. And I know I've got market trends tomorrow, but rates went down, and I need to know that, you know, that especially going into Memorial Day weekend, how much did they go down? Why did they go down? And are they going to go down further? I mean, that's the question, right? Because is this a new trend or is this just a blip? And it's really critical that we jump in because I know something's coming, we all feel it. And I'm going to be talking about this at tomorrow's Market Trends  Update. What are all the indicators that are pointing us clearly towards an economic slowdown? And that economic slowdown is more than likely going to come with a reduction in interest rates, which is going to give us an opportunity to refinance. But almost more importantly, it's going to spark more demand. The demand that right now is sitting on the fence, the demand that is going to get excited about in streets, dropping and get into the market still on limited supply, which is going to create another market frenzy in an increase in appreciation. So do you want to be a home buyer during that market frenzy or a homeowner? I want to own more like I want my, I want the market to raise the value of my properties, not me fighting for a property, having to put more into the offer. Because right now you can actually offer a list. Some homes you can offer at below-list. Some homes have been on the market for the last three months. That's what I want to talk about. This is going to be really specific, really quick, going into Memorial Day Weekend. I want you to know what's happening with interest rates. Of course, we still have tomorrow and I don't know what tomorrow brings until it comes. You tell me if your crystal ball's better than mine, but I wanted to talk to you about the fact that rates dropped. Now, they dropped a quarter. How big of a deal is that? I mean, rates have been going up for 10 consecutive weeks. We hadn't seen this since 1994 rates increasing this much in such a short period of time. So to have any relief to have a week when the rates went down is a blessing and we're going into a long three-day holiday weekend. So wait, rates went down about a quarter, and that quarter can save you about a hundred dollars a month. Is that a massive deal? It could move the needle, especially if you're right up against the edge of your eligibility. So locking in this weekend could get you just a little more house. So what's the inventory. What does that look like? But let's talk about these interest rates and whether or not we feel like they're going to go down or up for June, right? Cause what's, what's affecting interest rates right now. As I started this off, is this going to be a change in trend or is this going to be just a blip? And here's what I think. I think that interest rates are going to continue to be volatile through the point in time when the fed starts to pull their foot off the gas and takes a pause. Right? And that could be September-ish. In fact, one of the fed members actually said that they're thinking that they expect a 50 PIP increase at their next meeting in June. They're expecting five more increases this year with a possible pause in September. So we might start seeing things shift right about then, but until then, this is not a downward trend. This is an opportunity. This is a door that opened next week. We could see that they go back up, but that quarter, that a hundred dollars. I don't want you thinking that if you don't lock in this weekend, you've lost the opportunity because you can't time. The best time to buy is today. But can I take advantage of the dip? Of course you can, but here's where we're going. So the fed, I just talked about, we're expecting five more fed rate hikes. Those are going to impact slowing down the economy. We're going to see impacts on the 10-year treasury and on the 30-year fix because of that, they're also trying to control inflation and as inflation continues to be high, even if it comes down slightly, the core of inflation is wage-based and housing-based. And right now those two are not giving up easily. As long as inflation is high, that's going to put upward pressure on interest rates, but then you also have the geopolitical issues that are going on right now. When China opens back up again, what is that going to look like? Will we see another COVID uptick? And will they shut down again? Will the supply chain get crunched what's happening with Russia and Ukraine? Those geopolitical concerns raise the risk. They have an effect on the stock market. You have a risk-based move where people have a flight to safety. They want to move from the stock market to bonds. And when that happens, we actually see that while the stock market goes down, people move their money over to bonds. Those prices go up in bonds, which actually lets interest rates go down. So I have inflation. That's pushing interest rates up. I have geopolitical risks and concerns and the stock market risks that might put rate might push rates down. I have competing factors that are going to continue to create volatility, but those blips and that movement, I would expect to hover between 5, 5.25, and 5.5%. Now remember, we're locking in jumbo loans in the high fours right now, right? So this is an opportunity to take advantage of, but if we're volatile within this range until the point in time where the fed pauses, I want you to continue to watch for that. I'll continue to talk about that. Where's the fed going, because right now they have the most impact on rates. But did you recently sign a lease? Did you get out of the home buying experience because you don't have 50,000, a hundred thousand dollars over asking, do you not want to bid against five 10 people? Do you know that because of the higher interest rates, demand has slowed down, it has it slowed down. So this last week over week mortgage purchase application data showed that demand went down 1.2% week over week, last week, it went down 11% week over week. And in fact, out of the last, what is it out of the last 11 weeks nine have all been down, slowing down demand because rates have been higher. So that demand is slowing down. I don't know if I want to buy that second home anymore. I don't know if I want to buy that investment anymore. Now might not be the right time to purchase a home. I'm going to wait for the bubble. I'm going to wait for the recession. Going into Memorial day weekend rates dropped ever so slightly, but take advantage of it. Demand is down. I have real estate agents that are talking about the fact that they have homes that have no showings homes that have not gone under contract in one or two weekends. What does that mean for you? Opportunity to come in with an offer with an FHA, with a VA, with down payment assistance you can get in with no additional over list ask. That's brilliant. And I don't know if you knew that because demand is down at the same time. Supply is up. So active inventory was up in the past DMAR market trends report showing April data. It was up 44% month over month. Now that was active inventory and that's a little bit dated at this point next week, we're going to get made data super excited about that. But if I look nationwide week over week, we just saw 8% growth in inventory. Now, this is not going to be a continued spike in inventory in the sense that we are in the season, where more inventory comes online. This just so happens to be colliding at the same time. These rising interest rates slowing demand a little bit allowing first-time homebuyers to get in. Plus a seasonal increase in supply is giving us opportunities to not have to go over asking you to add onto that. What the roof team advantage is all about. You add to that, the fact that we're doing the TBD underwrites with eight to 10-day closings, and we're waiving loan availability. We're running automated underwriting to see if we can waive the appraisal. We're giving you a refinance certificate to give you money off of your refinance. Next year, when the rates go down, when we hit a recession and now we're partnering with agents doing a lease buyout program, and this is why it's not because I need to have a sale to get more deals in the door. I so believe in homeownership. I so believe in this is the opportunity for the 80% of Americans to gain wealth, to gain stability. And you've been shut out this whole year because rates have screamed up so fast. It's freaking everybody out. We have such a lack of inventory. When I say that inventory is up 44%. I mean that is a number that's 3,200 homes for sale, 3,200 homes for sale. I mean we have over 3 million people in the Denver market, and 3,200 homes for sale. That number is big because the actual unit count is low. Our inventory is still low. This 5% interest rate is still historically strong. So when you have a window of opportunity and you don't know about it, I'm not doing my job because this is a time that you can get in. This is the way did you know that just last week we saw record sales on art and cars. I mean a 1911 Mercedes just sold for the highest price car ever sold the rich know something. They know that they need a hedge against inflation. That inflation wall might come down is not going to go away for a period of time they need to make sure that their money is making them money. They're pulling it out of the stock market and volatile investments and putting it into solid investments like our, uh, art and classic cars. What do they know that you need to know? You need to know that you need a hedge against inflation and for the 80% of Americans, it's real estate, it's real estate. That gives you the opportunity to do that. And this is the way and with our routine advantage, the lease buyout, because if you gave up six months ago and I get it, I get it. But how do I get you back in? How do I share with you the power of real estate? The opportunity to allow appreciation to drive up your wealth, the opportunity for principal reduction to pay your own mortgage. Not somebody else's because when you are paying rent, you're paying a 100% interest rate. I stole that from Jeremy Kane, when you're paying rent, your interest rate is 100%. None of that is making any money for you. So if you lock in at today's yes,  but historically low-interest rates, you're making your money work for you. Take advantage of these. This is your weekend. This is your time we want to go to work for you. Give us a call right now, The Ruth Team, Nicole Ruth, it would be my pleasure to serve you guys have a great rest of your day. If you're an agent, catch us tomorrow with Megan hour on our market trends, update, talk to you then.  

Today I wanna talk about being busy. I have heard a number of times over the last several weeks, maybe weeks saying, "I don't wanna bother you. You are too busy," or "I can't even believe you made time for me because you are so busy." or maybe I didn't think to call you because you're so busy when you are busy doing the things that you're passionate about. This is what I'm supposed to be doing every single day. If I showed you my calendar, it might freak you out, but I love it. It is stacked with half an hour to an hour of consultations with our clients, solving problems, creating strategies, sitting down with our real estate agents, and talking about how to continue to serve our clients. And even more important to me is how do we create wealth for you as a real estate agent? Our team makes it possible because we have so many specialists to handle every aspect of a loan and the hiccups that crop up. I have a member of my team who is absolutely phenomenal at two-week closes. He can get it done every single time because he is determined and dedicated to every step of the process. It's amazing! If I have a rush, I give it to him. I have a member of my team who absolutely backward and forwards knows the non-QM loans. You have a DSCR loan that you want to be done. You have an investor loan with no income, your bank statements, or a P&L loan, which, by the way, freaks me out a little bit. I'm just saying the fact that you can buy a home just on, a profit loss statement, audited, we're not gonna go there today, but you can, right. You can do it on 12 months' bank statements, you can do it, not just having enough assets in the bank and using assets either depletion or just calculation based on the number of assets you have, you can do the DSCR where the investment itself covers its own loan, right? There are ways to get strategic and creative in this environment. And he does that brilliantly. I have another member of my team who is passionate about first-time homebuyers, as much as I am, she will bend over backward. Talk on the phone for two hours, making sure that you understand everything. I don't have two hours. I wish I did, but I can set the strategy with you one on one. And then she can absolutely take that strategy and bloom, and take you to the finish line because she has the patience of an angel. I have another member of my team that is fluent in Spanish, and he is knocking out of the park. He's called a ton of our agents who are Spanish speaking, introducing himself and talking about how he just drives to serve. He is committed to creating a path for Spanish-speaking borrowers to get to the finish line. I love having him on our team. Who's your mortgage team? We'd love to talk to you about becoming yours. There is another member of my team who is super high energy. You wanna solve a problem and you are just over it, done, whipped? He is gonna get you there. He's gonna power through and find the solutions. Nobody works harder on my team than him. Another member on my team who is absolutely the best when it comes to move-up homebuyers, taking the strategy of the equity that you have in your home and capitalizing on how to use that. Whether it's a cash-out refinance, or HELOC. I am not too busy. They are not too busy. This kind of depth in the team offers solutions to steal the slogan from an insurance company. We know a thing or two because we've seen a thing or two. What are you doing on a daily basis? I would ask you this. If you're a client, that's bumped into this and the loan officer, who's bumped into this, a real estate agent, who's bumped into this. Are you fulfilling your passion? Are you fulfilling what you were put on this earth to do? This is my journey. I am not too busy.

In the last two years, rates have been abnormally low, which has created an incessant demand, and an unlimited supply. All of that pushing home prices up higher and out of reach for first-time, homebuyers just a few months ago, the market was intense and it still is. Here's a quick recap of this episode. Listen to the full 8 minutes to get the details on the four reasons higher interest rates benefit buyers. 1. Demand is slowing down. 2. Supply is sitting on the market a hair longer - it's a bit calmer. 3. More supply, less demand = slower price growth. That's simple economics. 4. With higher interest rates you have higher savings rates.

What is an adjustable-rate mortgage? and the bigger question is should you get an adjustable-rate mortgage? Inquiries regarding Adjustable Rate Mortgages are picking up steam! An ARM can help buyers expand their qualifications because they tend to have lower interest rates when we are in a rising interest rate market... like today. But with a lower interest rate comes a bit more risk. So before buyers jump in and say that this is their "golden ticket," let's break down what an ARM is, highlight the pros and cons and discuss who can benefit from ARM financing. Have questions? Feel free to reach out to my team and we'd be happy to answer them for you :)  -------------------- Glossary moment: A couple of terms covered in this episode: SOFR and LIBOR. The main difference between SOFR and LIBOR is how the rates are produced. While LIBOR is based on panel bank input, SOFR is a broad measure of the cost of borrowing cash overnight collateralized by U.S. Treasury securities in the repurchase agreement (repo) market.

If you talk to two different real estate agents in the Denver real estate market, you will get two different stories. However, the theme remains the same, the housing market is in a constant state of flux. Just when we think we know where it's heading, it flips a 180! This episode is about a tale of two markets - Tips and Strategies to Get Under Contract. I know buyers and agents are frustrated, but we are here to help you gain a competitive advantage and WIN your deal.

What will housing look like in a recession? A recession will be good for housing. Recessions usually bring lower interest rates which will bring on strong demand. Strong demand on top of birth rates 30-33 years ago and high liquidity brought on by the Fed. Lower interest rates when supply is challenged by "interest rate lock", aging in place, investor buyers, and builder backlog. Headlines want you to be worried. I want you to jump in. From my seat, the sooner you get in before a recession comes, the more opportunity for equity growth, when demand spikes and home prices rise. Want to know what you can do? Let's talk!