Purchase Mortgage Applications Rose in June
June remained a popular month for buyers, even with higher interest rates. Mortgage applications increased for three weeks in a row, reflecting increased buyer activity.
The Mortgage Bankers Association's Market Composite Index, which measures loan application volume, increased 3% from a week earlier. The seasonally-adjusted Purchase Index increased 3% from a week earlier as well.
More buyers are choosing conforming loans, as the FHA share of total applications decreased to 12.9% from 13.3% a week earlier. The VA share increased to 12.2% from 11.9% a week earlier. Want to learn more about the most popular mortgages in our area? Contact me for an informal chat.1
Should Your Sellers Fly Their Flags or Take Them Down?
Curb appeal is an important feature when preparing a house for viewings, and this includes the seller's choice of flag that may be on display.
A recent homebuyer survey presented a selection of 13 flags to qualified buyers and came up with these results.
- The most popular: the American Stars and Stripes flag, followed by Black Lives Matter and pro-choice flags.
- Almost 30% of buyers would be more likely to buy a home after seeing one or more rainbow (LGBTQ+) flags in the neighborhood, especially if they're Gen Zers or Millennials.
- Other countries' flags had the least effect on buyers, with almost 60% of respondents saying that this would have no impact on a purchase decision. Other flags, such as the Confederate flag, had a detrimental effect. Almost half of the respondents admitted they would pass on a home if sellers displayed this flag. Conversely, anti-gun flags were also off-putting to over 25% of respondents.2
This House Was a Scream. Now It's a Wedding Venue.
Although many home interiors we see in movies are created in a studio, the exteriors are often real homes, complete with homeowners.
For example, fans of the series Breaking Bad located the house that represented the White family's "home" in Albuquerque, New Mexico, much to the chagrin of the owner (who eventually put up a fence to keep them away).
Other homeowners have taken a different approach. For example, the house made famous by the Scream movies is located within the Spring Hill Estate, a 300-acre California property. You can visit if you're getting married and have at least $20,000 to spend on your wedding venue. The house is sometimes rented to Scream fans...but only for a few days each year.3
Does Your Biz Need a Boost? Consider a Seminar.
While few agents can manage to attend every real estate conference, consider these factors before making a decision. Do you want to learn how industry leaders made it to the top sellers' clubs? Do you need to build a bigger network? Looking for a new strategy to add to your existing skills?
If your answer to any of these questions is "yes", here are details of three of the top events coming up soon.
Inman Connect. This three-day event brings agents, brokers, executives, tech and finance professionals, entrepreneurs and investors together in Las Vegas. It begins August 8th, so check it out sooner than later.
NAR NXT: The Realtor Experience. This event is scheduled for mid-November and will take place at the Anaheim Convention Center. Network with over 15,000 attendees at the industry's largest real estate expo.
FUBCON 23. FUBCON (the FUB stands for Follow Up Boss) will be held in late September at the J. W. Marriott hotel in Los Angeles. It's described as the premier conference for real estate agents, solo agents, and brokers who want to build a winning business without sleepless nights.4
A Different Approach to Increasing Sales Sources: 1nationalmortgageprofessional.com,
2themreport.com/a>,
3homebay.com,
4rismedia.com,
5grantmuller.com
While there are plenty of real estate gurus out there, not all of them take the same approach.
For example, you may have heard of Grant Muller, a Certified High Performance Coachâ„¢. He's on a mission to help agents make emotional connections and lead with a heart-centered approach.
Part of Grant's pitch is that many agents are successful during the first few year or two of their career, but can't keep up the momentum. The solution to this problem? In addition to hiring a coach, he emphasizes a "more relationships, less lead chasing" approach for these agents.5
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