Be a leader for your clients.

Thank you for joining us for another agent talk This week I have Drew Morris, who I've got to know through DMARs Market Trends Committee. He jumped on just a little bit before I did about 2.5 years ago, and he's been a real estate agent for 7.5 years and I bring up the half because he claims it just like I claim my half an inch.

Drew Morris is with Your Castle Real Estate. I wanted to bring him on board because he has some of the same views I have and looking at real estate as a wealth-building opportunity and right now, having been through the most turbulent year I can personally remember and not being quite done yet. So how do we continue on our path to 2021 into 2022, 2023? How do we engage with our clients on a very personal level to continue to support their success in real estate?

There is so much news to absorb whether or not we'll get shut down again, whether or not or how long, I should say before a vaccine comes out and we can return to whatever new normal looks like. What would you, and how do you relate to your clients today? How do you keep engaged with them so that you continue to be that adviser for them? I think being a person that is experiencing it firsthand and being a, I think a voice of reason, a voice of confidence. A very like, in a way, is like being even-keeled approach to things. That's something that my clients always mention. It's almost like a common theme where they could always rely on me to just kind of be even-keeled about things. No matter what's going on, the house could be burning down, and I'm like, OK, Well, here's what we're gonna do, just work through it.

 So while everybody is ramping up help, trying to bring that back down and slow it down can be super helpful. And that's something that I learned from the Marine Corps, actually, because you have to be in that kind of setting. Dealing with friction and dealing with emotional responses and emotional environment and unstable environment. You know, again, bringing that to the table has been super helpful.

Nicole asked, "As far as being the even keel kind of advisor, I think that there's a lot of stress, especially this year. Small things become very big very quickly, and to be able to have that person standing beside you and walking through because the long term opportunity and you even said you know before we started recording is that one of your main focus is to continue to educate people and advise them on the power of real estate. Real estate is a wealth-building vehicle. I couldn't agree more with that, especially when we're in the turbulence of the stock market and the economy and the environment. The one thing real estate does is increase in value." 

Listen to this 10-minute episode to be inspired.

Financial Independence for Early Retirement through House Hacking

Nicole's guest today is Zeona McEntyre. In this episode, they talk about house hacking to financial freedom. House hacking is the way that Zeona thought to be financially independent. And her role now is really just to help empower people, inspire people and get them excited about what's possible. People they think, "Oh yeah, financial independence or early retirement, that's for other people, that can't happen for me. Or if I'm going to do that, it's going to take me 15 years." But she did it in two years with house hacking. She also believes it's really doable in five and traditional people that are doing just financial independence with index funds, they do it in about 10. So it's almost about just knowing it's possible and then allowing yourself to have that.

In this episode she talks about the foundations of financial independence. Some of the kind of like misnomers or confusion around it. She'll go into why, why would you want to house hack? Why would you want to share your home if it's your COVID palace, why would you want to do that? It better be for a good reason.

Shen then goes through four strategies that you can use, like four different ways you can house hack, as well as some case studies and resources at the end.

Zeona's story:

It all started when... Zeona's best friend got laid off from a big time job in New York City and could no longer afford his apartment. He called her one day excited to share his decision to travel with his new found "funemployment" funds and rent out his apartment on this website he just heard about called Airbnb. That was 2011....

After much persuading she finally decided to give it a try and never looked back!

Fast forward nearly 8 years and a whole lot of hospitality magic later. Zeona now owns seven properties, manages 20 (& counting! worldwide). She teaches others how to invest in properties with Airbnb in mind & create automated businesses. She lives in Boulder, CO half of the year and spends the other time traveling the world as an International Pet/House sitter.

Don’t Be Afraid of No from Your Lender

There's No Bubble to Burst
I keep hearing that people are waiting for the Denver market to cool down to buy or sell. But is that the best plan? Appreciation is at 6.9% year to date, which mean phenomenal growth for those who have purchased and opportunity for those just diving in. How do I know? Because three years ago I was sitting in my backyard saying nearly the same thing. The difference between now and then? Low interest rates.

Know What Your Getting
So often clients will come to us and be scared or timid in asking questions. But I'm here to say, as the top lender in the state, you should ask every question you have and leave nothing on the table. Because sometimes a few answers can make all the difference in your lending outcome. You should be confident in your lender.

Buyers, Sellers, Agents, this is not the time to rest.

November’s DMAR report highlighting October data reflects just how important the home has become by producing nearly as many records as we saw in last month’s report. Now is not the time to sit on the sidelines in fear that the bubble will burst; it is the time to stay engaged. Finding the right home might be challenging, but waiting will only cost you more.

Nicole Rueth
The Rueth Team of Fairway Independent Mortgage Corporation
750 W Hampden Avenue, Suite 500 Englewood, CO 80110
303-214-6393
www.TheRuethTeam.com

Connect on social media:
Follow me on FB: https://www.facebook.com/theruethteam/
Twitter: https://twitter.com/nicolerueth
Linkedin: https://www.linkedin.com/company/the-...
YouTube Channel: https://www.youtube.com/channel/UCPMd...

Forbearance and Unemployment Numbers’ Effect on Denver Real Estate Market

What do the current numbers tell us about the difference between delinquency and foreclosure? About values for the top 10% of home prices vs. the entry-level lower-priced homes? Some highlights to this episode include;

We have to make sure that we distinguish this for our clients because the delinquency rates are not foreclosures, they're forbearance. And those numbers of people that are going off on forbearance is growing. More people are coming off forbearance. When they're talking about the delinquency numbers are going up, they're watching that under 30 days, 30 to 60, over 90. That's increasing and that's the number that jumps out on the headlines. Realistically though, the number of mortgages and active forbearance is going down, because remember, we started this in that March and April timeframe. Really, April was the first month that people could skip their mortgage payment with the forbearance, the CARES Act. All of those people had up to 12 months that they could be on forbearance in a three-month cycle. Most servicers are offering it every three months and then at the end of three months, you can choose to extend it or you can come off of it.

When we hit the three-month mark, we saw a massive drop. Well, we just hit the six-month mark and we saw a drop again. It dropped by about 18%. It was down 650,000 people got off of forbearance, and another 800,000 will hit their six-month mark because remember, their 12 months starts whenever they got on the forbearance, it wasn't all in April. Their six-month mark for 800,000 people is next month.

In the beginning, there were 40% of the people that took forbearance continued to make their mortgage payment. They didn't need it, they just wanted to protect what they had. And so think about the psyche of this buyer who's currently on forbearance and maybe they're not even making a mortgage payment. Only 9% of the people who are in forbearance right now have less than 10% equity.

We need to ask ourselves on behalf of our clients, what is their neighborhood doing? How much is it appreciating locally? And being that champion for them to go, "here's where it starts to tip over. Here's what we could sell your house for today."

Maybe go in and do an assessment on how they can upgrade their home or the very specific things that would give them the best curb appeal or the best value for their home, and help them realize it that way. Maybe it's not a transaction, maybe it's just you doing your best job and being the best version of yourself for all of your clients, because the inventory continues to be a problem.

Giving Agents the Tools to Be Essential Human Resources for Buyers and Sellers

Nicole gives us a chance to meet the new CEO of DMAR, Nobu Hata. Nobu tells us the plans for membership support and value-added benefits.

Nicole asks him some questions that you will want to hear the answers to, even if you are not in the DMAR Sphere. His perspective includes what he learned working at NAR.

• Working with the Realtors, your wife, and those in your community, do you think it changed your perspective and how you expected to enter DMARs community? Or do you think you're right in alignment with where you were when you left NAR?
• What is your primary focus,  and how do you want to change DMA to support the membership or the experience that your DMAR community is facing today?
• Talk a little bit about your vision in the space of services and content that will benefit and support members.
• What's going to be the next disruptive company?
• Suppose you're meeting a newer agent who's considering entering the association, what advice would you give that agent?

Resurgence of HOME and how it affects the Denver real estate market

It’s become infinitely more important as it’s our refuge, our workplace, classroom, meeting room, restaurant, escape and for some, our isolation. The Denver Metro Association of REALTORS® (DMAR) October Market Trends Report highlights how this resurgence in our home has played out in the stats. 

• We have the lowest amount of homes for sale for any September at 5,301 homes, which consequently is only a mere 950 homes more than Denver-area’s all-time inventory low
• Buyers put your sneakers on because homes are selling in six days, the fastest for any September on record
• Be ready to pay more. Denver’s median closed price hit a record high at $461,000. Consequently, that’s more than the sellers were asking, as the close-to-list price for September was 100.41%
• Even with this low inventory, we sold 5,850 homes, more than any September on record
• With another record 6,376 pending sales teed up for October
• Sellers, I see you are trying. 6,376 new listings came on the market; but with demographics and interest rates favoring buyers, it simply isn’t enough

Denver’s real estate market has not only recovered from March and April’s loss; it has picked up the pace from January and February. As of the end of September, year-to-date closed homes were up 1.61% over last year and sales volume was up 7.53%. The median close price was up 6.9% - that’s an incredible equity win for our homeowners. So the question is when will this end? Or worse, will it POP?

Nicole Rueth
The Rueth Team of Fairway Independent Mortgage Corporation
750 W Hampden Avenue, Suite 500 Englewood, CO 80110
303-214-6393
www.TheRuethTeam.com

Connect on social media:
Follow me on FB: https://www.facebook.com/theruethteam/
Twitter: https://twitter.com/nicolerueth
Linkedin: https://www.linkedin.com/company/the-...
YouTube Channel: https://www.youtube.com/channel/UCPMd...

Know Your Loan Options Renovation, CHFA, Jumbo, Conventional, FHA, USDA, and VA

This is a recap of the tips in September. They include information about all types of loans, limits, how they benefit you including Renovation, CHFA, Jumbo, Conventional, FHA, USDA, and VA.

I mean who are Fannie Mae and Freddie Mac?

(Hint: Unfortunately not the neighbors down the street)

As consumers we all want to make sure we understand .. and can take advantage of, our options. Particularly when it’s funding possibly the largest purchase you've ever made! Yet with so many loan options how do you know where to begin?!

Renovation loans are a great option for those who have purchased a home or investment property that needs a bit of TLC. Take advantage of the great appreciation we've had to make your current home your forever home. Old musty carpet and overly patterned tile might go out of style, but leveraging the wealth you've gained by owning your home hasn't.

CHFA - we all need a little help sometimes.

As a home buyer you have to bring money to the closing table no matter what loan option you choose....but what if the majority of that could come from the state? That’s right! There are so many opportunities to become a home buyer with as little as $1000 cash coming from your pocket. Owning your home can provide so many advantages. Don't let the amount you need to bring to the table stop you. Set yourself up to be 48 times wealthier by starting the home loan application process today!

The Gang's All Here: Fannie, Freddie, and now Ginnie Mae

Ginnie Mae is the one stop shop for first time home buyers. FHA, VA, and USDA, encompassed 67% of their loans just last year. Distinctive in income, location or past service, you can open a plethora of perks if you qualify. By placing only 3.5% or even 0% down, home and even investment opportunities are closer than you think, even if you don't have a high credit score. Make sure you have a loan officer that knows how to be creative, because the potential SAVINGS are huge.

We're here if you need more information to help you decide which loan fits you.

Nicole Rueth

The Rueth Team of Fairway Independent Mortgage Corporation
750 W Hampden Avenue, Suite 500
Englewood, CO 80110
303-214-6393
www.TheRuethTeam.com
Connect on social media:

Follow me on FB: https://www.facebook.com/theruethteam/

Twitter: https://twitter.com/nicolerueth

Linkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/

YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKw 

Making Your Professional Memberships Work for You

This week we spent time with Mike Papantonakis, newly inaugurated DMAR Market Chair and agent with Re/Max Alliance. He is one of the new leaders of DMAR but leadership isn't new to Mike. Together we explore how his experience gives him the strength he needs to lead DMAR's Board as well as champion his clients.

He reminds us that when we question the value of professional memberships, we have to remember to also ask, "What did I put into that membership? How did I participate? You only get out what you put in.

"We can not continue to do business the way we do business today. We're always going to have to be looking for a better way and a new way to do things."

- Mike Papantonakis

Nicole Rueth
The Rueth Team of Fairway Independent Mortgage Corporation
750 W Hampden Avenue, Suite 500
Englewood, CO 80110
303-214-6393
www.TheRuethTeam.com
Connect on social media:
Follow me on FB: https://www.facebook.com/theruethteam/
Twitter: https://twitter.com/nicolerueth
Linkedin: https://www.linkedin.com/company/the-...
YouTube Channel: https://www.youtube.com/channel/UCPMd...

Use Your Extra Time to Learn All You Can and Add Value

Jill Schafer is Nicole's guest in this episode talking about smoothing the path to homeownership to get to the celebration. That's done through continuous education on behalf of our clients.

Jill says, "understanding the market and educating our clients that's not something they could just pick up online I mean, they can read the article, but they are going to get that microneighborhood information that we can provide and getting information on just their price point or their area, or are they looking at attached and detached and that's something that report really provides and you know we can provide it to our clients, but we need to still explain how that relates to them. And so it's focusing on how I can try to make that process smoother for them in every possible and make it a celebration."

Tune in for some sage advice from this seasoned Real Estate professional.