January 1st, 2024 8:46 PM by Eric Willner
Radio Show Notes 12/27/23 Wednesday:
Read a summary of the show below or
Listen Here
Watch Live Facebook Video Here
"Wednesday Midweek Mortgage Report Preview: Stay Ahead in Real Estate Trends"
By Eric Willner, Host of The Real Estate Show, America’s longest running daily radio show about real estate.
Eric Willner: 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. This show is a virtual real estate seminar in every episode. Today is the Wednesday Midweek Mortgage & Market Report Edition of The Real Estate Show, where we continue to talk about why NOW is the right time to buy real estate using the theme of the 2023 Real Estate Year in Review.
Did you know that the real estate market is constantly evolving? Today's show is about reflecting on the achievements of 2023 while looking forward to improving our results and actions. But before we delve into that, let me remind you of this week’s special FREE Workshop:
Wednesday night 8:30 pm Financial Edge University Overview – Online by Invitation simply by texting EDGE to 561-861-2366.
Segment 1: Setting the Stage
Let's continue our exploration of why NOW is the time to buy real estate, building upon the insights from Monday and Tuesday. The headlines and news articles we'll discuss today are real estate-related, impacting wealth through affordable housing and providing you with a financial edge.
Did You Know Question #1
Did you know that understanding the news can help you get organized and gain a financial edge in real estate? It's crucial to stay informed about the market trends and factors that affect your investments.
Segment 2: Interest Rate Trends
Now, let's dive into the first article from BankRate.com, discussing today's national 30-year mortgage interest rate trends. Today's national 30-year mortgage interest rate trends On Wednesday, December 27, 2023, the current average interest rate for a 30-year fixed mortgage is 7.00%, decreasing 8 basis points from a week ago. If you're looking to refinance, the current average interest rate for a 30-year fixed refinance is 7.16%, down 1 basis point over the last week.
Headline: "2024 First-Quarter Housing Trends: Rates Begin to Thaw"
This year was far from uneventful. 2023 started with a stormy winter that brought us more rain and wind than I have seen in almost 25 years, which I believe delayed our spring real estate market that usually gains momentum in early March. By the end of the first quarter, we experienced the regional bank crisis, which resulted in the collapse of silicon valley favorites Silicon Valley Bank (SVB) and the unnecessary fallout to First Republic Bank (FRB). We witnessed the Feds continued aggressive rate hikes to stem inflation resulting in high short-term treasury rates. This is significant because short term investment money was (and still is) getting higher interest rates than long term treasuries (inverted) and this unusual situation doesn’t last forever (spoiler alert: expect a change sometime in 2024).
Despite higher mortgage rates, we experienced a rebound in prices from the lows of 2022 and an extremely tight inventory environment. As the Russia-Ukraine War continues and the Israeli-Hamas Conflict is hopefully coming to a truce, there will undoubtably be significant costs to bear: both monetarily and humanitarian. The largest tech companies enjoyed a huge rebound from the lows and continue to be fueled by the excitement of Generative AI. One year later, Open AI has started what I think will be out next dot.com economy. Unlike other trends, Generative AI is here to stay. The tech industry enjoyed a rebound, driven by the excitement of Generative AI, shaping the next growth wave.
Did You Know Question #2
Did you know that despite challenges, the real estate market has shown resilience, rebounding from the lows of 2022 and presenting opportunities for savvy investors?
Segment 3: Article #2 - Reflection on the Year
Now, let's reflect on the year with insights from another article.
Headline: "Why Buy in 2024?"
As I look back on the year, it's clear that sellers had a better-than-expected year. Our local market experienced a transition, with declining prices and a market shift that started around June 2022. Despite buyer affordability pressures due to tripled interest rates, single-family home prices saw a significant increase. Upgrading buyers were few, mainly due to the high costs associated with upgrading in the current market climate. Looking ahead, 2024 holds promise, but uncertainties persist.
Did You Know Question #3
Did you know that 2024 presents a unique opportunity for buyers with a lack of competition, a rising stock market contributing to higher net worth, and potential market shifts that could favor strategic real estate investments?
Today's Show is Brought to You By: TimeFixMyCredit.com, text “Credit” to 561-861-2366.
Segment 4: Market Insights and Additional Headlines
Now, let's continue exploring market insights and other headlines relevant to our theme.
Other headlines that show how our theme is so relevant to the market are:
Did You Know Question #4
Did you know that staying informed about market insights and trends is crucial for making sound real estate decisions in today's dynamic environment?
[Segment 5: Calls to Action and Conclusion]
Before we conclude, let me remind you to take action today. Text the word EDGE to 561-861-2366 for your invitation to the Financial Edge University Overview.
[Did You Know Question #5]
Did you know that staying engaged with our show and attending our workshops can provide you with valuable insights and tools to kickstart your real estate journey?
In conclusion, thank you for tuning in today. Don't just listen, use our show to get started in real estate investing. Tune in every weekday to The Real Estate Show, "a literal seminar in every episode." Join us again tomorrow for the "ATM Edition – About The Money." Share this show with others who should own real estate. Until next time, I'm Eric Willner, the Voice of Real Estate, signing off.
Also, you can listen to the entire 30 minute broadcast of any day’s edition of The Real Estate Show by clicking on the audio link on that days summary post. You can also watch the Facebook Live video at www.facebook.com/TheRealEstateShow.
Want to know more? If you are serious about real estate and paying off debt, then find out more on today and every day’s episodes and learn more about Real Estate Investing and learn HOW TO by listening to The Real Estate Show with Eric Willner , Live every weekday morning at 9 o’clock (EST) on Florida’s Money Talk Radio stations WWNN AM1470, FM 95.3 and FM 96.9. You can also hear us on the free apps: iHeart Radio and TuneIn. Recorded Rebroadcasts are available 24/7 on Facebook. Please share this and our Facebook updates.
Eric Willner is the Host and Founder of The Real Estate Show, an informative show about how to buy, own, and improve real estate the right way, on autopilot. - The Automatic Landlord way. (AutomaticLandlord.com) You can reach Eric Willner at Eric@Ericwillner.com or 888-595-7779.
Also listen to the rebroadcasts on demand on Facebook.com/TheRealEstateShow
#TheRealEstateShow, #EricWillner, #AutomaticLandlord, #ThirdHome, #BestRealEstate, #WSBR, #AM740, #FM 96.9, FM 103.9, #MoneyTalkRadio, #TheRealEstateLife, #speakingempire, #GKIC, #makeamericagreatagain, #propertymanagement, #rent