January 5th, 2024 8:52 PM by Eric Willner
Radio Show Notes 01/03/24 Wednesday:
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"From Rates to Opportunities: Dive into the Dynamics of 2024 Real Estate with The Real Estate Show!"
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. I'm your host, Eric Willner, known as the Voice of Real Estate and the founder of America’s longest-running daily radio show about real estate. Today is the "Wednesday Midweek Mortgage & Market Report" Edition of The Real Estate Show, where we continue to explore why NOW is the right time to buy real estate under the theme: "Real Estate is not perfect…just better."
Did you know? National Median Home Price: As of October 2023, the national median home price in the US reached $440,300, reflecting a 12.1% year-over-year increase (Source: National Association of Realtors). This signifies continued home price appreciation despite a slight market slowdown.
The real estate market is constantly evolving, and understanding its dynamics is crucial for success. Today's show is about embracing the imperfections of real estate and realizing that it's still a better investment compared to many alternatives.
But before we dive into the heart of the matter, let me remind you of this week’s special FREE Workshops:
Now, let's continue discussing why NOW is the time to buy real estate. We'll build on the insights from our Monday and Tuesday shows and integrate them with some recent headlines and news articles that directly impact wealth through affordable housing, helping you gain independence and peace of mind.
[Midpoint Call to Action] But before we proceed, I want to remind you that knowledge is power. To stay ahead in the real estate game, text the word EDGE to 561-861-2366. Don't miss out on valuable information that could make a significant difference in your real estate journey.
Now, let's turn our attention to the latest mortgage trends. According to BankRate.com, the current average interest rate for the benchmark 30-year fixed mortgage is 7.05%, up 5 basis points over the last week. The headlines tell us that mortgage demand ended 2023 on a sour note, despite a sharp drop in interest rates during December.
Mortgage applications to purchase a home ended the year 12% lower, even with the recent drop in rates. This prompts us to ask: With rates in the 6% range, will they stay there, and will that be enough to stimulate more supply in the market? The builders are optimistic, but new homes come at a price premium. As we navigate the uncertainties, it's crucial to stay informed and adapt our strategies accordingly.
Reflecting on 2023, we witnessed a dynamic year in real estate, from a stormy winter to the collapse of Silicon Valley Bank and the impact of aggressive rate hikes by the Federal Reserve. The tech industry rebounded, and Generative AI emerged as a significant trend, shaping the next growth wave.
As we reflect on the year, it's clear that our market is in transition. Despite higher mortgage rates, we experienced a rebound in prices and an extremely tight inventory. However, the question remains: What will happen in 2024? Will the Fed cut rates, and how will it impact our local real estate? The uncertainty persists, but optimism for the future is on the horizon.
Looking ahead, the lack of competition makes 2024 an opportune time to buy. Buyers can capitalize on a softer market before new competition emerges. With the stock market up, higher net worth provides an excellent opportunity to diversify into real estate for long-term gains. The key takeaway is that while you can't time the bottom, being vigilant and making informed decisions is crucial.
Other headlines affirming our theme include Meritage Homes CEO Phillippe Lord's optimism about strong housing demand, Barbara Corcoran's advice to buy instead of rent, and Zillow's Skylar Olsen expressing optimism about the housing market in 2024.
Don't just listen—use our show to get started in real estate investing. For more insights and strategies, text "Credit" to 561-861-2366. Stay tuned every weekday for "a literal seminar in every episode of The Real Estate Show."
As we conclude, I want to thank you for tuning in. Remember, our show is not just about listening; it's about taking action in real estate. Share this valuable information with others who should own real estate. Join us again tomorrow for the "ATM Edition – About The Money." Until then, make informed decisions, and I'll catch you on the next episode of The Real Estate Show!
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
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