Radio Show Notes 04/03/24 Wednesday:

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"Midweek Report: The Secret to Wealth - Real Estate Ownership and Tax Benefits!"

By Eric Willner, Host of The Real Estate Show, America’s longest running daily radio show about real estate.

 

Welcome to The Real Estate Show – South Florida’s #1 Real Estate Radio Show and America's longest-running daily radio show about real estate.

My name is Eric Willner, known as the Voice of Real Estate and founder of America’s longest-running daily radio show about real estate, as well as the creator of The Automatic Landlord System for Owning Cash Flowing Real Estate “Profitably and Hassle-Free”. This show is like a virtual real estate seminar in every episode.

This is the Wednesday Midweek Mortgage & Market Report Edition of The Real Estate Show.

Today, we continue to talk about why NOW is the right time to buy real estate, focusing on the theme: Real Estate Owners Make More and Pay Less Taxes.

Did you know investing just $100 per month with a 7% annual return could grow to over $1 million in 40 years? (Source: Compound Interest Calculator) Most people will work a 40 year career. 40 years will go by no matter what you do. Therefore, starting small and letting your money grow over time can be powerful. Becoming a millionaire is not that difficult, it just takes consistency. Want to do it in less time? Stay tuned!

Today’s show is about Real Estate Owners Make More and Pay Less Taxes and how crucial it is to understand how that works in crafting a successful real estate plan.

Before we dive into the meat of the show, let me remind you of this week’s special FREE Workshops:

1. Next Tuesday 7.30 PM Fearless First Time Home Buyers Workshop – Online by Invitation. Text HOME to 561-861-2366.
2. Wednesday night 8:30 PM Financial Edge University “101 Overview” – Online by Invitation. Text EDGE to 561-861-2366.

Do finances challenge you? Most people say YES!!

So HERE is The Financial Edge to get ahead. You need the right people, the education and knowledge that moves the needle. We are your Financial Team and we have the knowledge. Let's talk about it... We believe in a 3-pronged approach:

1. I believe: Everyone should buy a house - Be a Homeowner.
2. I believe Everyone should have that house in Financial Order with a WRITTEN Financial/Life Plan.
3. I believe: Everyone should own a business that pays them AND gives them Tax Benefits - The Financial Edge. Your Financial Team. Let's talk about it...

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Let's continue to talk about why NOW is the time to buy real estate using the previous shows from Monday and Tuesday above, but focusing on and using The Headlines and news articles below that are real estate-related, that affect wealth thru affordable housing, help you to gain independence and peace of mind. Understanding the news helps you get yourself organized and have a financial edge.

Here are the top trending topics for today’s update:

Articles from BankRate.com:

On Wednesday, April 03, 2024, the current average interest rate for a 30-year fixed mortgage is 6.92%, falling 5 basis points since the same time last week. If you're looking to refinance your current mortgage, the average 30-year fixed refinance interest rate is 6.93%, rising 2 basis points over the last seven days. Mortgage rates have jumped around but remain elevated. In 2024, experts were predicting the 30-year mortgage to slowly decline, eventually landing under 6 percent. Mortgage rates change constantly, however, and many factors could play out between now and year-end to change those projections.

In other news:

From CNBC-REAL ESTATE

Weekly mortgage demand remains stalled, as interest rates stay stubbornly high

KEY POINTS

·         The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) slipped to 6.91% from 6.93%

·         Applications to refinance a home loan fell 2% for the week and were 5% lower than the same week one year ago.

·         Applications for a mortgage to purchase a home edged down 0.1% from one week earlier and were 13% lower than the same week one year ago.

Mortgage rates didn’t move much last week, and for the second week in a row, neither did mortgage demand. Potential buyers are handcuffed by exorbitant costs and low supply, and current homeowners have little to no incentive to refinance at today’s high rates.

Total mortgage application volume last week was essentially flat, dropping 0.6% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) slipped to 6.91% from 6.93%, with points decreasing to 0.59 from 0.60 (including the origination fee) for loans with a 20% down payment.

Applications to refinance a home loan fell 2% for the week and were 5% lower than the same week one year ago. Rates have been hovering around 7% for the past few months, and close to 90% of current borrowers have mortgages with rates below 6%.

Applications for a mortgage to purchase a home fell 0.1% from one week earlier and were 13% lower than the year-earlier week. Purchase demand now is about half of what it was in March 2020, before the Federal Reserve dropped rates to zero, igniting a massive homebuying boom, which wiped out already low supply. With rates now double what they were back then, sellers are stuck in place, and buyers can afford far less.

“Elevated mortgage rates continued to weigh down on homebuying. Purchase applications were unchanged overall, although FHA purchases did pick up slightly over the week,” noted Joel Kan, an MBA economist.

Mortgage rates bounced higher to start this week, after new economic data on manufacturing came in higher than expected and noted higher prices.

“Prices are critical at the moment because inflation is keeping rates elevated,” wrote Matthew Graham, chief operating officer at Mortgage News Daily. “If inflation refuses to resume the downward trajectory that was in place through the end of 2023, rates won’t have a compelling reason to rally.”  

Wednesday brings more data on growth in the services sector, and Friday the all-important monthly employment report is released. Both could create rate momentum in either direction.

Other Headlines & Topics Discussed:

"Home prices will continue to appreciate as long as there is limited supply, says Zillow Co-Founder

"How Tax Benefits of Real Estate Can Make You Richer" - Understanding the tax advantages of real estate ownership can significantly impact your wealth accumulation strategy. From deductions to depreciation, learn how to maximize your tax benefits as a real estate owner.

"Navigating the Mortgage Market: Tips for First-Time Homebuyers" - With mortgage rates at historic lows, now is the perfect time for first-time homebuyers to enter the market. Learn about the various mortgage options available and how to find the best deal for your financial situation.
"The Impact of Inflation on Real Estate Investments" - Inflation can erode the value of traditional investments, but real estate often serves as a hedge against inflation. Discover how investing in real estate can help you preserve and grow your wealth in the face of rising inflation rates.

Call to Action:

Ready to gain the financial edge in real estate? Text EDGE to 561-861-2366 to join our Financial Edge University and start your journey to financial freedom today!

Stay tuned for more real estate insights and updates. This is Eric Willner, your host, signing off for now. Remember, knowledge is power, and with The Real Estate Show, you have the power to unlock your financial future. See you next time!

In the previous post, we delved into the importance of understanding how real estate ownership can lead to increased wealth and reduced taxes. With insights into the power of compound interest, the significance of financial education, and the latest trends in the real estate market, listeners gained valuable knowledge to help them make informed decisions about their investments. Remember: It’s a stone-cold fact that Real Estate is THE best investment. Period. So get yours today! 

Thank you for tuning in to The Real Estate Show! Your support means the world to us. But remember, don’t just listen – use our show as a tool to kickstart your journey into real estate investing. Join us every weekday for what's essentially a seminar in every episode of The Real Estate Show. Tune in again tomorrow for the “ATM Edition – About The Money”, where we'll dive even deeper into the world of real estate finance. And don’t forget to share this show with others who could benefit from owning real estate. Together, let’s build wealth and secure our financial futures.