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Ep. 12 - November Lending Update: How the Readjusting of Expectations is Affecting Prices with Daniel Halverson

Despite high interest rates, we still see supply shrinkage and rising prices. What’s going on here? In this episode, I’m joined by Daniel Halverson, one of the top producers and leading experts on Northeast Florida loan origination, to dive into the current state of lending. Changes in the market have been sequential, and here you’ll find the following sequence in the evolution of our current market. Find out what’s happening beneath the surface and the various options available to buyers and sellers.

 

If you’re looking to adapt to this ever-evolving market, jump in and get all the insights you need in this lending update.

 

[00:00 - 05:00] A walkthrough of November’s lending update: What the readjusting of expectations is doing to home prices

 

[05:01 - 11:16] Understanding the current market outlook for buyers and sellers

 

[11:17 - 15:58] Advantageous options for buyers—paying points to get lower interest rates

 

[15:59 - 21:17] Why you need to find an advisor, not just an originator (Including a live question from one of our listeners)

 

 

Quotes:

 

“Sellers have already absorbed a lot of the affordability issues with rates going from 3 to a little over 7%... I think you’re starting to see sellers come back to a price point where their home is going to sell.” - Daniel Halverson

 

"The reality is the thought process of buying a home now may be negotiating better terms than you would in the future and then refinancing that loan." - Daniel Halverson

 

“Instead of thinking about how much lower you can get the price, let’s consider how much of a concession you can get that can be applied toward lowering the interest rate.” - Daniel Halverson

 

 

Resources Mentioned: 

 

Bank of England is a nationwide lender that takes the time to understand your needs and structure the right mortgage for you and your family. Find your local branch at https://www.boemortgage.com/. 

 

Ever ask yourself, “How’s the market?” With us, you’ll never have to again! Visit https://www.themarketdistillery.com/ and gain accurate and digestible insights that will help you serve your clients and expand your real estate.