Slowed Appreciation DOES NOT Mean Loss of Value! CoreLogic expects a 5.9% appreciation over the next 12 months. Denver is always hotter and CoreLogic is super conservative! That means on a median price home, conservatively, you will gain another $37,000 in equity AND get to refinance with our new Refinance Guarantee!
What will housing look like in a recession? A recession will be good for housing. Recessions usually bring lower interest rates which will bring on strong demand. Strong demand on top of birth rates 30-33 years ago and high liquidity brought on by the Fed. Lower interest rates when supply is challenged by "interest rate lock", aging in place, investor buyers, and builder backlog.
Headlines want you to be worried. I want you to jump in. From my seat, the sooner you get in before a recession comes, the more opportunity for equity growth, when demand spikes and home prices rise.
Want to know what you can do? Let's talk!
Here's some of the math we cover in this episode.
As of April 2022, the median closing price in DMAR is $624,950
This means the loan is $499,060 at 5.5% with a 20% down:
$2839/month principal and interest payment.
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$661,822 if it appreciates as CoreLogic predicts at 5.9%, putting 20% down.
The loan is $529,457 with 20% down at 5.9% interest rates.
$3006/month principal and interest.
Costs more to wait if interest rates don't go down.
What if they do and you can refi and get that $1000 credit from us that we talk about in this episode?
Suppose it goes down to 4%, the payment drops to $2,528 - the home price has been locked in and it will continue to grow in appreciation. You kept the $37,000 or so and get a lower payment.
Listen to find out more.
How You Can Find and Benefit from an Assumable Loan
PPI Numbers Explained: Is Inflation Finally Slowing Down?
Can I Buy Down My Interest Rate?
First-Time Homebuyer Advantages in Today’s Market
Housing Today Comes Down to These Things
Eight Home Buying Myths
What Are Seller Concessions?
Discussing the Current Real Estate Market Landscape
Focus On the Payment, Our Economy Works In Cycles
3 Ways to Get Rid of Your Mortgage Insurance
Using Current Market Volatility To Your Advantage
Interest Rates are Below 5% Again
Why a Real Estate Slowdown Is Not a Loss
Should I build a home instead of buying a home?
How Does the Global Market Movement Influence the US Real Estate Market?
Can the Recession Just Get Here?
Four Reasons Real Estate Just Picked Up Again
What Are Your Responsibilities as a Co-Signer on a Mortgage?
Conforming Home Loan Limit Increasing to $715,000
DMAR Sept 2022 Homeowners Have the Upperhand
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