As another presidential election approaches, debates resurface about its potential impacts on the republic, the fairness of the Electoral College, and the housing market. Despite conventional wisdom suggesting elections cause uncertainty that sidelines homebuyers, data shows otherwise. Historical analysis of the S&P CoreLogic Case-Shiller Home Price Index reveals that home price appreciation in election years since 1987 averaged 4.84%, slightly higher than the 4.44% in non-election years. Factors like economic conditions and demographics, rather than the election itself, drive housing prices. Consequently, economists agree that elections have minimal influence on home values, and buyers or sellers should not let campaign seasons affect their real estate decisions.
The U.S. economy added 272,000 jobs in May, surpassing expectations and alleviating fears of a labor market slowdown, which may reduce the Federal Reserve’s need to lower interest rates. Despite the increase in jobs, the unemployment rate rose to 4% and labor force participation decreased. Significant job gains were seen in health care, government, and leisure and hospitality. Wages also increased more than anticipated, rising 0.4% for the month and 4.1% year-over-year. This robust job growth and wage increase suggest the Fed is less likely to cut rates soon, with market expectations for a September rate cut dropping significantly following the report.
Our client, Cathy’s husband inherited a home in 2018 when his aunt passed away. The property had remained vacant and boarded up for years, even being occupied by squatters at one point. After going through the probate process, Cathy decided it was finally time to sell. She reached out to Lindsey Iskierka for help. The probate appraisal valued the home at $550,000. Lindsey suggested that an off-market cash buyer would likely offer between $475,000 and $580,000, but listing the home on the MLS could yield a higher net profit and offers closer to the appraised value.
Following Lindsey’s advice, they held an open house that attracted over 30 groups of cash buyers, resulting in offers as high as $570,000. Thanks to Lindsey’s guidance, the heirs received tens of thousands more in net profit compared to selling off-market to a cash buyer.
If you’re interested in buying or selling with the David Greene team, send an email to info@davidgreene24.com.
Jamie has been a Spartan League member for only a few months and is already seeing huge progress. After making a career change from the equestrian world, she was eager to learn anything and everything to ensure her success in the real estate world. She’s been diligent about attending all the Spartan League calls she can from mindset, to the agent course with Lindsey Iskierka. After a short time, she’s already under contract on one home and about to close to two more. Don’t take it from us though, see what Jamie had to say!
“My Tuesday classes with Lindsey are just amazing. She is a rock star! She has given me a ton of confidence in such a short time. I don’t think think but I am 100% certain that becoming a member of Spartan League is the reason things are starting to fall into place. Thank you, David for strategically putting this team together. It’s special and I am extremely grateful. “
Investing in 2024 is not the same as it has been in the last few years. A lot of people have decided to throw in the towel because of the difficulties we’ve been seeing recently. Between rising interest rates, inflation, limited supply, and an overall struggling economy investing is not for the faint of heart. If this sounds like what you’ve been feeling check out Spartan League. Our members rise to the occasion and do not shy away from difficult markets. They run towards it instead of away from it. If you’re interested in learning how you can join our community of Spartans and continue on the path towards building a financial fortress in this economy, join us on June 27th where I’ll explain what’s different and how to adapt. You can also email mastermind@davidgreene24.com to get connected.
Conventional: 7.375%
VA: 6.625%
FHA: 6.625%
DSCR: 7.750%
If you’re in the market for a loan and need assistance, our team at The One Brokerage is here to help. Visit our website here to explore our loan options and find the right financing solution for your real estate goals and email us at intake@theonebrokerage.com to speak to one of our loan officers.
Ggwaldrup asks “What’s your thoughts on condo’s? HOA fees are a pain killer!”
Though sometimes I’m ok with it, I’m not the biggest fan. As inflation makes everything more expensive, these costs are passed onto the condo owners through special assessments and increasing HOA costs. Do not make the mistake of assuming the current HOA fees will always be the same. I repeat-HOA fees rise with inflation!
