Welcome to another episode of The Real Estate Collective with your host, Brandon Head! In this episode, Brandon highlights the importance of understanding that interest rates are not the defining factor when considering the purchase of a home. Brandon explains how the median sale price in Texas is $325,000 with an average of 37 days on market for December and a month-over-month decrease of 7.3%. Homeowners who have owned for the past two years or more have gained substantial equity in their homes and owning a home makes individuals 40 times richer than those who rent. The last thing Brandon reminds us of is how a relationship with a lending partner can help provide assistance and advice on the market and how best to capitalize on it. Next episode promises to feature the host’s wife with a great story about getting started in real estate.

You don’t want to miss it!

Topics Discussed and Key Points:

●Using Home Equity for Financial Freedom

●The Pros and Cons of Homeownership

●Understanding Net Worth and Foreclosure

●The Benefits of Having a Good Lending Partner

Timestamps

[00:04:28] Decline in Home Sales in December

[00:09:00] Home Equity & Financial Freedom

[00:13:06] What Are The Benefits To Homeownership

[00:14:01] Understanding Net Worth and Foreclosure

[00:17:38] The Benefits of Having a Good Lending Partner

Notable Quotes

“I need y'all to have the conversation with your clients that interest rates aren't everything.”

"Those that have owned homes at least for the last 2 years and further have gained a substantial amount of equity in their house. Think about all the things that they can do with equity. Get people comfortable talking to you about debt."

“We still don't have a whole lot of homes on the market, which is problematic because when the market kicks back up, when interest rates drop as they're supposed to, because inventory is a little bit lower, it's gonna be a feeding frenzy."

"House money is still substantially cheaper than credit card debt. You're looking at 19 percent to 25 percent to 29 percent on credit cards versus 6 percent on a house."

"Foreclosure is not always the answer and it's the worst solution usually because it not only affects you long term, but mentally speaking can wreak havoc on you as well."

"If you have a great lending partner, you utilize it just like that as a partnership. You call them, you ask them ‘hey, what's going on?’ I guarantee you. If they're not calling you once a week or once every other week to just talk about market stuff, talk about what you're seeing. A good lending partner knows how to piece those things together."

Resources

●The Real Estate Collective

Connect with Brandon Head

●LinkedIn

Call to Action

If you enjoyed this podcast and want to support us, please subscribe on the platform you listen to podcasts from, leave a review and share with your friends. We’d greatly appreciate it!