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You’re right about that, temps already dropping. The Altitude Project has been very intentional in getting heaters, sleeping bags, blankets, and winter gear out there.

@@TrevMortgage .....thank you, I'm up here and hadn't heard about them yet. Send me their link so I can send it too my peeps👍

Thank you for sharing

Thank you for your comment. So many affected by this hurricane, so sad to see. The only shinning light is watching people from everywhere jump in to help all those places and people that were affected by this storm.

Yepp, I’m closely keeping an eye on everything and will try to time it as best as possible.

As in prices won’t drop?

Go here and I'll get you added! forms.gle/iq9SP9n9ZfQS8ay99

Great! I hope you are well

@@TrevMortgage fine. Thank y

May I have your email address? I would like to discuss with you the topic of growing your RUclips channel.

Shoot me an email trevor.higgins@fairwaymc.com and I’ll send it over!

Shoot me an email trevor.higgins@fairwaymc.com and I’ll fire it over !

Thank you for the thoughts, I didn’t make this about politics, it was based just based on economical statistics. November will defiantly be a big moment in what happens economically in the future for sure.

Great question; it did require some loan programs to update their guidelines to allow for buyers to pay broker commission, of which is now in place. Otherwise, not a huge effect on lending as a whole.

What makes you say that ?

@@TrevMortgage first off, never ever buy anything(including investment) just because you can afford it. and the monthly payment, never treat monthly payment like its the main reason why you should buy anything. it is true, just because interest rate is high doesnt mean its not a good time to buy, but monthly payment should never been considered. also real estate market does has its low and high. what should the reason to buy now or not should depends purely on the investment return and cost. total cost of owning a home, interest, insurance, tax, maintenance - appreciation of the house vs rent cost. also if you going to stay for more then 5y, or 10y. its NEVER a good idea to buy a house if you need to move because of job, etc. the cost of selling the house will cost you.

You're right, prices are up from where they were and payments are defiantly higher. In my opinion, this is only going to be made worse as interest rates drop as this will spike demand causing prices to further increase.

Thank you for your opinion, why is that?

Down payments, these can vary based on qualification and any state/local programs that may be available. The average down payment for a first time home buyer is around 4% (some choose to put more then the minimum required down)

@@TrevMortgage so if you’re looking at the average home, which is around $425K you just need $17K, which you’re just out of college, so you have a massive amount of debt from going to school. Or maybe you just have rich parents and it figures itself out.

Thank you for your input! Tell me more, what do you mean?

@@TrevMortgage the future is not bright for two generations.

Great question - In my opinion Dilworth would be the only one not ideal for a real estate investor due to the types of homes and prices. The other 3 (NoDa, Plaza Midwood, South End) have great investing potential.

@@TrevMortgage The food and shops between plaza and NODA make it a hard choice. Which one would you pick?

Most expensive mistake recently would be not using a realtor when selling a home, a client lost out of thousands of dollars!!

Deal save: we just had a client that was denied at some online bank offering very very low rates. They were denied 3 days before closing - our team was able to pick it up and get it closed in 7 days. Just goes to show, not always about the best rate!

Thank you !! Hope you two are doing well!

🙌🏻

Thank you, You can email me at Trevor.Higgins@FairwayMC.com or go to www.metrolinafairway.com/homebuyersguide to download a copy!

Thank you for that, I’m all about using tax strategies to reduce or defer taxes. While I am not a tax professional, I don’t want to pay more in taxes then I absolutely have to.

I’m all set for now but thank you.

One of my favorite parts of the house as well!! You just don’t see that detail these days

I have some ideas, reach out at trevor.higgins@fairwaymc.com

Mobile homes can be a great way to start depending on the market. One of the most affordable homes out there, it really depends on your market. Feel free to reach out and we can go over your market and more about mobile homes.

Great question!! I would ALWAYS recommend doing it before you start shopping so you ensure you’re looking in the right price range. The credit report for most lenders is good for 120 days, so you don’t need to do it too far in advance but definitely prior to scheduling showings.

Given what is going on in the Red Sea and how that is already impcting shipping, we will be lucky if we don't se pampant inflation world wide, not to mention the time delays in delivery - all leading to another parts shortage and spiriling costs. Low 6's? Maybe not...

When you stop learning, you stop growing.

Thank you !!

Correct, only refinancing or a modification can do that.

A lot of people are; I always tell clients to buy when they are ready. That being said, if you’re ready, sooner will be better than waiting due to the amount of people waiting. Once rates drop, demand will spike causing prices to increase (more competition for the same home).

@@TrevMortgagedemand won’t spike when Americans exhausted all of their savings this year. And unemployment is sky high - demand isn’t there.

@@CasperWest while you could be correct, no one knows. I believe that a “bad” unemployment rate is 8-10%. That leaves 90% of the workforce still working. While inflation has hurt everyone, there will be plenty of people that are willing and able to buy. With rates moving down, a lot of pent-up demand from higher rates will come to the market along with the normal buying season traffic. This combine with the huge inventory shortage based on new household formations and birth rates out-pacing new home starts.

Unfortunately government loans do not have the ability to recast. So if you made a large principle payment, it would just pay off the loan faster.

@@TrevMortgage Ok, thanks!

This depends; if the PHFA was combine with a conventional loan, you should still be able to recast it. If an FHA or USDA loan was used with the program, it would not be eligible.

While you are correct, most people don’t have an extra $10,000 lying around especially in this economy. It’s just not very well known as far as the clients I speak to on a regular basis.

Great question, the payment would be considered in qualification but typically is an interest only payment so its impact is minimal.

Thank you!! And thank you for being a GREAT agent for your clients!

Thank you !

The goal is to raise rates to curb spending, unemployment staying low will just cause consumers to continue to spend, driving inflation back up.

A strategy that can make sense in the right scenario for sure. Especially with the debt ratio flexibility and lower LTV’s for multi-unit properties.

In high rate environments, use a HELOC. Even though they are typically adjustable, they also calculate using interest instead of amortization. Saving you money and with the right strategy, can even help you pay your mortgage off faster!