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- Fed Drops the Hammer
Fed Drops the Hammer
The Rate Cut's Impact on Real Estate
Splits and Caps Daily: Action for Agents
September 19, 2024
📈 Market Move:
Big Cuts, Small Moves
The Fed just hit the market with a bold 50-basis point rate cut—the first since 2020—and signaled two more cuts are coming this year. But don’t expect mortgage rates to drop significantly just yet. They’ve already priced in this move, hovering around 6.2%.
The real estate impact? Builders are the immediate winners, with cheaper loans boosting housing affordability. As for homebuyers, if you're waiting for a better deal, you might want to stay alert. More rate cuts could open up some opportunities, especially in the slower fall season when competition tends to cool off.
But with home supply still tight and affordability a challenge, we’ll have to see if this is enough to reignite the market before year’s end.
🌟Quote of the Day:
"Don't be afraid to give up the good to go for the great." – John D. Rockefeller
âš¡ Quick Win:
Market Report in 15: Spend 15 minutes whipping up a quick market report. Post it on social, send it in your newsletter, or text it to clients. You’re not just selling homes—you’re owning the neighborhood. Plant that flag, my friend.
🎉 Fun Fact of the Day:
Golden Gate Effect: Before the Golden Gate Bridge existed, the land around it was basically free. After it was built? Boom—real estate prices shot up faster than a VC-funded startup. Moral of the story: infrastructure changes the game.
📚 Book Recommendation:
"Shoe Dog" by Phil Knight — Forget about real estate for a second—this is the story of how one guy turned $50 into Nike, one of the most iconic brands on the planet. It’s all about grit, risk, and the insane hustle it takes to build something massive. Apply that mindset to real estate, and you’re not just selling homes—you’re building an empire.
Check out our Agent Bookshelf for previous recommendations and Agent Resources for other ways to improve your business!
That’s it for today’s edition! Keep your eye on the prize, stay relentless, and remember—success is built one deal at a time. Let’s go crush it!
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