Equity Express

Splits and Caps Daily: Action for Agents

September 17, 2024

📈 Market Move:

Riding the wave of home equity

So, here's the scoop—home equity is still on the rise, but it's not the rocket ship it was before. Residential properties gained a cool $1.3 trillion in equity over the past year, according to CoreLogic’s latest report. Homeowners with mortgages saw their average equity jump by $25k this year, but that’s a slowdown from the $28k gain earlier in March.

It’s a mixed bag across states though. If you’re in Maine, congrats—you’re leading the equity charge with a $58k boost. On the flip side, if you're chilling in Texas, Oklahoma, or North Dakota, well, you’ve actually seen a dip.

Even with this slowdown, the average homeowner’s equity is sitting pretty at $315,000. That’s a solid financial cushion, especially with inflation cranking up the cost of everything from insurance to taxes. Oh, and if you’re worried about foreclosures? No sweat. Delinquency rates are still at historic lows, thanks to this equity safety net.

The bottom line: Home equity’s still growing, but it’s taking a breather. Keep an eye on those regional differences though—it’s not the same story everywhere.

🌟Quote of the Day:

"The way to get started is to quit talking and begin doing." – Walt Disney

⚡ Quick Win:

The “Just Sold” Flex: Spend 5 minutes shooting a "just sold" video for your socials. Toss in a fun fact about the neighborhood, and boom, you’re turning heads. People love seeing real wins in real places—it’s like showing off your receipts in real estate.

🎉 Fun Fact of the Day: 

Back in 2003, someone paid $1,500 for an island in “Second Life” (yes, a virtual world). That’s right—virtual real estate before NFTs and the metaverse were even a thing. The future’s been here longer than we think.

📚 Book Recommendation:

"Who Not How" by Dan Sullivan and Benjamin Hardy  – This one’s a game-changer: Stop asking, “How do I get this done?” and start asking, “Who can do this for me?” It’s all about delegating like a boss. If you’re ready to scale your real estate business and stop being stuck in the weeds, this book will show you how to build a killer team that handles the details while you focus on the big moves.

Check out our Agent Bookshelf for previous recommendations and Agent Resources for other ways to improve your business!

That’s all for today! Stay hungry, stay humble, and remember—every move you make puts you one step closer to greatness. Let’s keep pushing!

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