The Double Comma Club

We just experienced a HOT real estate market that left homebuyers who couldn't afford to pay $50,000 - $100,000 over the asking price with little chance of getting into a home.
While home prices and interest rates seemed to skyrocket, home affordability was challenged, pushing many prospective buyers out of the market. But does that still hold true today? Is home affordability gone? Can you save money and try to purchase a home?
Nicole Rueth, SVPThe Rueth Team Powered by OneTrust Home Loans750 W Hampden Avenue, Suite 500 Englewood, CO 80110303-214-6393www.TheRuethTeam.comConnect on social media: Follow me on FB: https://www.facebook.com/theruethteam/Twitter: https://twitter.com/nicoleruethLinkedin: https://www.linkedin.com/company/theruethteam YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKwNicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/.AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.
 

What is the difference between Pre Qualified and Pre Approved? #shorts
Foreclosures are up 150%! Okay, they are but let’s take a step back. They’re up 150% from 1 year ago when there was a FORECLOSURE MORATORIUM you couldn’t even do one! They are shooting up from extremely low lows, and many are still working their way through the system from pre-pandemic! This IS NOT a cause for panic nor a sign of a housing crisis.
All hope is not lost if your appraisal comes in low! You or your realtor can do a Reconsideration of Value. This allows you to present other comparables to your appraiser to see if the value can be increased, and 15%-20% of the time, IT IS!
Headlines say that Mortgage Demand has dipped to an "all-time low." But let's tear this apart for a minute. Mortgage Applications include both Refinance AND Purchase Apps! Furthermore, the Refinance Apps are the big chunk of this, as they’re down 82% YOY, while Purchase Applications are only down 18% YOY.  I understand buyers are dealing with affordability, but they’re still out there! Sellers, if your home is staged right and priced right, there is a buyer for your home.
 
Nicole Rueth, SVPThe Rueth Team Powered by OneTrust Home Loans750 W Hampden Avenue, Suite 500 Englewood, CO 80110303-214-6393www.TheRuethTeam.comConnect on social media: Follow me on FB: https://www.facebook.com/theruethteam/Twitter: https://twitter.com/nicoleruethLinkedin: https://www.linkedin.com/company/theruethteam YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKwNicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/.AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.
 

Investing in the Denver Real Estate Market TODAY. Nicole chatted with realtor, friend and fellow investor Christie Metoyer of Live.Laugh.Denver Real Estate and Rent today about purchasing her 3rd investment property and how real estate investing has changed her life! She says what blows most first time homebuyers away is the fact you do not need 20% down to buy a home in this market. Listen to more reveals in this episode. You can also catch the video version here - while you're there, subscribe to The Rueth Team's YouTube channel. https://www.youtube.com/watch?v=ityXriu79BI
 
Nicole Rueth, SVPThe Rueth Team Powered by OneTrust Home Loans750 W Hampden Avenue, Suite 500 Englewood, CO 80110303-214-6393www.TheRuethTeam.comConnect on social media: Follow me on FB: https://www.facebook.com/theruethteam/Twitter: https://twitter.com/nicoleruethLinkedin: https://www.linkedin.com/company/theruethteam YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKwNicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/.AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.
 

Real estate is a long-term game. Nicole says it time and time again... it's not about money, it's about options. Investing in real estate opens up doors and options down the road that can lead to stability and financial success.
While it may seem like a shot in the dark, real estate always goes up. The sooner you can capitalize on the benefits real estate gives you TODAY, the sooner you can build multi-generational wealth. In this episode Nicole compares her experience when she got started investing in real estate in 2009's market with today's. She'll tell you her story and the logic behind continuing to add doors to her portfolio. 
 
Nicole Rueth, SVPThe Rueth Team Powered by OneTrust Home Loans750 W Hampden Avenue, Suite 500 Englewood, CO 80110303-214-6393www.TheRuethTeam.comConnect on social media: Follow me on FB: https://www.facebook.com/theruethteam/Twitter: https://twitter.com/nicoleruethLinkedin: https://www.linkedin.com/company/theruethteam YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKwNicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/.AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.
 

What's Next for the Housing Market? Is it BOOM OR GLOOM?We've experienced an incredibly volatile housing market over the last two years. It was full of huge equity gains, rising home prices, and little inventory. So, what's next for the housing market?!
Is the housing market going to crash? Will we enter into a recession? What happens to housing in a recession? Is now still a good time to buy a home?
I hope this episode answers a lot of your questions and will help show you that the housing market is still strong!
 
Nicole Rueth, SVPThe Rueth Team Powered by OneTrust Home Loans750 W Hampden Avenue, Suite 500 Englewood, CO 80110303-214-6393www.TheRuethTeam.comConnect on social media: Follow me on FB: https://www.facebook.com/theruethteam/Twitter: https://twitter.com/nicoleruethLinkedin: https://www.linkedin.com/company/theruethteam YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKwNicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/.AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.
 

A recession is always coming, it’s just a matter of time.  It’s purely the nature of a cyclical economy. “Are we in a recession” searches continue to hit record levels on Google, and talk of a housing recession has some counting on the bubble to burst.  With more inventory and all other numbers lower across the board, it’s starting to look like a recession, or, maybe it’s just the slowdown we’ve all been hoping for.
A recession does not equal a housing bubble.  While there will be layoffs, slowed production, and a softening in consumer spending, Americans are coming into this recession with $2 trillion in savings and twice the home equity there was in 2006. Colorado is also protected by having 38% of homes owned free and clear, only 1.7% of mortgaged homes delinquent, and a current foreclosure rate of 0.1%.  If home prices continue to slow, as I expect they could during the second half of 2022, recent buyers might lose a little value, some homeowners might even need to sell quickly, but most will simply not sell.  Knowing that as rates drop, as they consistently do during recessions, pent-up demand will reengage with our limited supply, forcing multiple bids and yet again higher prices. 
Institutions, first-time home buyers, and those who have been waiting will all be ready to buy on these dips. And since we have not yet achieved an inventory level that could comfortably sustain a surge in demand, the thought of a housing bubble eludes me.    
 
Nicole Rueth, SVPThe Rueth Team Powered by OneTrust Home Loans750 W Hampden Avenue, Suite 500 Englewood, CO 80110303-214-6393www.TheRuethTeam.comConnect on social media: Follow me on FB: https://www.facebook.com/theruethteam/Twitter: https://twitter.com/nicoleruethLinkedin: https://www.linkedin.com/company/theruethteam YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKwNicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/.AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.
 

Another question in this episode is, "What if there's a grow house in the garage?" The guidelines for appraisals vary depending on who the lender is, whether it's Fannie, Freddie, VA, FHA, or Conventional. Nicole's guest is Paul Cress, AVP of Staff Appraisal Operations for Frisco Lender Services (FLS).
Nicole asked him, "So what brings that volatility, and what eases it overall?"
Paul told her, "Lately the reason it's eased is that interest rates have dropped, demand. It's simple supply and demand. Realistically, over the past three years, property values have risen more than they have at any other time in history. That's due to increased demand and decreased supply. It's caused quite a market stir where realistically, the purchase demand can't be caught up with, and appraisals are done in retrospect, they're a flash in time. And when you're looking back even weeks or days, and trying to keep up with this market, that's increasing day over day. That's what really caused the stir in the market and values to become undervalued or, become under what the contract price was. 
Nicole pressed, "If I have a buyer willing to pay an amount of money for a house, even if it's over asking price, isn't that the market value?"
You'll have to tune in to hear his answer, the issue of ADUs, grow rooms, and how much adding a rental unit can add to your home value.
 
Nicole Rueth, SVPThe Rueth Team Powered by OneTrust Home Loans750 W Hampden Avenue, Suite 500 Englewood, CO 80110303-214-6393www.TheRuethTeam.comConnect on social media: Follow me on FB: https://www.facebook.com/theruethteam/Twitter: https://twitter.com/nicoleruethLinkedIn: https://www.linkedin.com/company/theruethteamYouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKwNicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/.AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.
 

1. Lock and ShopThis is where you can hold the rate for 90 days, with the option to extend it for 30 more while you are under contract. If rates go up, you are locked in, if they go down, we can renegotiate the rate.
2. TBD UnderwriteThis goes hand in hand with Lock and Shop. We gather all of your information, submit it to an underwriter, and then you can be fully underwritten and are viewed as being the same as a cash offer. Some of these transactions are closed in 8-10 days. 
3. Knowing Your Needs vs. WantsOnce you have that defined and the first two steps handled, you can move quickly to secure your home.
 
Nicole Rueth, SVPThe Rueth Team750 W Hampden Avenue, Suite 500 Englewood, CO 80110303-214-6393www.TheRuethTeam.comConnect on social media: Follow me on FB: https://www.facebook.com/theruethteam/Twitter: https://twitter.com/nicoleruethLinkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKwNicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/.AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.
 

We are still seeing a lot of market volatility and with the FED meeting this week, everyone is praying that they will just control inflation! But, interest rates DROPPED. There is a window of opportunity to take advantage of as a homebuyer, and we have a program that can help you lock in at these lower rates!
While you're at it, look at gas prices and go fill up, TODAY!
 
Nicole Rueth, SVPThe Rueth Team750 W Hampden Avenue, Suite 500 Englewood, CO 80110303-214-6393www.TheRuethTeam.comConnect on social media: Follow me on FB: https://www.facebook.com/theruethteam/Twitter: https://twitter.com/nicoleruethLinkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKwNicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/.AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.
 

In a tough market flooded with negative headlines, it can be an uphill battle trying to convince clients that now is still a good time to buy!
The truth is that we don't know when a recession will happen, or what the extent will be? How much further interest rates will rise? When they will fall?  How much will they fall? The list goes on and on. And it's scary, I get that. The unknown always is. But here's what we do know:
Housing goes up in the long term
There are refinance opportunities when rates come down
Owning real estate gives you financial stability and opens up options in the future
Don't forget to join Agent Ignite https://www.theruethteam.com/agents/ignite-training/ 
 
Nicole Rueth, SVPThe Rueth Team750 W Hampden Avenue, Suite 500 Englewood, CO 80110303-214-6393www.TheRuethTeam.comConnect on social media: Follow me on FB: https://www.facebook.com/theruethteam/Twitter: https://twitter.com/nicoleruethLinkedin: https://www.linkedin.com/company/the-rueth-team-fairway-independent-mortgage/YouTube Channel: https://www.youtube.com/channel/UCPMdb94tUNMMsUTgdWRMDKwNicole Rueth (NMLS 239840) is licensed to practice on behalf of OneTrust Home Loans (NMLS 46375) in the states listed below. For full compliance verbiage, visit theruethteam.com/compliance/.AZ, CA, CO, FL, ID, IL, IN, KS, MI, MN, MS, MO, MT, NE, NM, NC, OK, OR, TN, TX, UT, VA, WA, WI, WY.