Good morning to November – a Season of Giving Thanks,
– Mortgage Rates Trending Sideways –
Don’t Miss Out – PREPARE TODAY – TOMORROW IS NOW
Our Goal:
Turning words, charts, and data into cash, assets, and wealth.
Our conversations bring to you, my decades of experience, practical know how, and professionalism. And, as you hear and read, now is a good time to call. Best: Our knowledge base is designed to complement you – your dreams, hopes, and goals. The outcome: Helping one choose more wisely, smoother transactions, and less stress. So, whether in your working years, preparing for retirement, or seeking to draw down assets, we are here to make things better for you. Call today.
Key to success: It doesn’t happen in a vacuum. One needs the experience of a proven professional. Start preparing today – Call Mike. The Opportunity awaits you.
TODAY’S REAL ESTATE NEWS & HAPPENINGS
Points of interest:
- Economic Drivers: Last week we saw the jobs numbers finally approaching reality. With that, the Federal Reserve has decided to leave short term rates alone – for now. Outcome: the 10-Yr Treasuries made an important move lower, as did mortgage rates. Treasuries moved from 5% to the mid 4’s. After touching 8%, mortgage rates are now in the upper 7%’s.
- Government and Elections: We continue to watch the drama – can anyone say Shakespeare ? – as we hear our elected officials prepare for elections. How about the whisperings of Gov. Gavin running a shadow presidential run. With Getty Oil and Hollywood behind him, this possibility is not to be ignored.
- Real Estate: Demand, Supply, and Cooling Inflation
Lower mortgage rates may help bring some balance to the significant supply vs demand issues of the Bay area. Keep in mind, many homeowner have very low mortgage rates and don’t want to lose them when they sell – 3% to 4 % vs current mortgage rates of 7% or higher. For new building, too many headwinds for substantial number of new homes – other than apartments. I know of no substantial land developments projects that will provide the need for thousands of new homes. Outcome: Our State will continue at the top end of annual appreciation estimates.
Bottom Line:
Start preparing now – Don’t wait. Let’s talk, today.
- Federal Reserve: Recession and Full Employment
The brain-tease continues. Consumer spending remains steady, rent increases are cooling, as new supply becomes available. At the same time, last week jobs numbers are slowing. Over the past 6 months, the average workweek dropped 1/2 hour. Still with paychecks, this number nets out to more than 2 M jobs lost. This sign of slowing is good news to the Federal Reserve. And the U-6 ‘all in’ unemployment rate, rose from 7 to 7.2 %
Other factors are showing definite signs of slowing as well. This includes “large item” purchases and Cass-freight index. It is showing softening of intermodal freight. Of note: IRS receipts are low in the face of major increases in war spendings bringing an increase to GDP.
Recent Residential Success Story:
Now Me to you:
Success reflects many unique, well thought out strategies – Cash-out funding is one such strategy to help cover anticipated shortages for the next 2 years. Giving a local small business an opportunity to weather out the economy, until the next uptick in sales and cash flow. A good tool to stay active and prevent stagnation.
Sometimes it means walking away from a project. Where on the ground facts do not support the dream. Where a physical inspection shows upgrade costs no longer match today’s financial realities. The Good: We are the experienced profession helping you make the tough choices.
Lets’s talk. We are ready to talk answers.
Buying Foreclosures? There will always be some. Yet nationwide, the numbers continue decades long low’s. Good for homeowners. This does not mean things stop happening – death, divorce, job loss are all still alive and well. Perspective helps. Value increases of the past decade simply result in those properties that might have gone into foreclosure become listings and get sold. Key: They are done on the open market, often with money beyond the mortgage. Truly, a good sign of a dynamic market.
Price drops: In spite of recent increased in interest rates, homes are selling. Yes, the market is still technically a Sellers market, as we do not see a large increase in the time-on-the-market. Something not experienced since 2010. Yes, inventory is up, but the good news, only 1/2 of pre-CoVoid. Further, we are in a normal seasonal increase, and average days on market, nationwide, is still a hot 21 days. Call me, I love to talk details, dreams and how we can enhance your choices.
Good News: The Breadth of Our Lending Possibilities:
We have the best financing options the market offers. Consider: 1) Veterans, 2) 1st time homebuyers with some fabulous brand new programs, 3) self–employed, and 4) investors with and without traditional income sources. Good News: The well prepared borrower. The lending world, being cautious with its money, loves the well prepared. Moreover, our lenders offer more options than pre Co-Vid. Call. Let’s talk before you buy. Let’s talk today.
Our Focus: Market Disciplines – Now More than Ever
Do you have a desire to create ‘more’ wealth for tomorrow and feel more secure? Consider this:
We advocate, teach, recommend options, and take pride in our ability to complete the task. We love referrals. So as you read this next section, if someone comes to mind, ready to explore, please introduce us. It will be a worthwhile conversation discussing the realities, potentials, and pathways to success. It starts with that first conversation. I love them.
The game-plan in a nutshell:
Rule # 1: Willingness to lay aside today, for more options tomorrow. This may mean living below one’s means. It’s not always easy. But it is the path of great rewards and opportunities.
Rule # 2: Investing – Equities, mutual funds, ETFs. I strongly suggest and recommend one maxes out on the retirement account contributions – each year. This deferred income, with tax benefits, builds for future years. Many such plans are offered, with many employer matching contributions. A great perk. Don’t leave it on the table, always being aware of how it’s invested. For many, a great way to keep your money working for you.
Rule # 3: Investing – Real Estate. Yes, yes and yes. Yes today. Yes yesterday. Yes tomorrow. This is another method to put money aside and build, while adding diversity. If your focus is to build for tomorrow, now is the time to talk and prepare.
Divesting Assets: There are times in life where one needs to sell an investment, due to life’s uncertainties. It brings home the need for a carefully review of one’s investment inventory and see if they remain on-track to achieving the intended goals.
Good News: We not only set a plan in motion, we present the handling of the unexpected, or address the significant issues of capital gains. More Good News: We have IRS approved tools and techniques to help keep your hard earned capital gains working for you – to keep them away from the taxman – federal and state – on a deferred basis. Such is the beauty of working with Mike Ryan and Associates. We are just a call away. Planning amongst friends.
Preparing to buying your next home: How about a “tool” that uses your old property, as collateral for the new home? How about tools whereby the current, “old” home payment, does not count against you, as you moved into the new. Want More Options: Call today.
Truly, our letters but scratch the surface of available options, alternatives, and potentials. We are ready and experienced in most every stage of life, to directly help you build a strong investment portfolio – regardless life’s ebb and flow. It is why a key approach to serving you is to work with your unique view of life – today and tomorrow.
Because You Matter
Our letters are a guidepost to wisely buying, selling, or investing. We understand the importance of being patient and of good timing. Our hope is to address your questions and find real life, customized solutions. It is what I love about my work, especially the people-to-people exchange of thoughts and ideas. It proves the best way to discovery and address your needs and unique viewpoint. To this, we then add our complete set of helpful tools designed to complement the shared goal – your success, today and tomorrow. We are here for you.
Your dreams matter. Thank you for your trust and referrals. It is appreciated.
Call me – Your success is my success.