The 'Starter Home' Shuffle

Alternate Affordability

October 01, 2024

Splits and Caps Daily: Action for Agents

October 1, 2024

📈 Market Move:

Care for a Condo?

Housing affordability just got a boost—thanks to a double dose of good news. First, the Home Price Index shot up 4.1%, marking the first improvement in affordability since 2021. Why? Mortgage rates are dropping, incomes are rising (up 3.1%), and home prices, while still climbing, are slowing down. Experts predict this trend could carry into 2025, giving first-time buyers a window to jump in.

But don’t get too comfortable—starter homes are kind of affordable now, but they’re not what they used to be. According to Redfin, today’s “starter home” might be more of a fixer-upper condo than the traditional picket-fence dream. Still, with rates down and incomes up, it’s the best time in four years to snag one. So, if you've been waiting on the sidelines, this might be your moment.

🌟Quote of the Day:

“Don’t watch the clock; do what it does. Keep going.” – Sam Levenson

⚡ Quick Win:

Video Testimonial Hack: Got a happy client? Shoot a 30-second video with them right after closing. Their excitement is contagious, and a real-time testimonial is marketing gold. Raw, real, and ready for social.

🎉 Fun Fact of the Day: 

The Biggest Backyard: The largest privately owned land in the U.S.? A cattle ranch in Texas that’s bigger than the entire state of Rhode Island. So yeah, that’s one heck of a backyard.

📚 Book Recommendation:

"The Compound Effect" by Darren Hardy: This book shows how consistent, small actions over time can lead to huge wins in both your personal and professional life. Great for agents looking to compound their efforts in lead generation and client relationships.

Want to level up? Hit the Agent Bookshelf for top reads, Agent Articles for real estate gold, and Agent Resources for the tools to boost your biz—go get it!

"That’s a wrap! Keep pushing, keep learning, and remember—consistency beats luck every time. Let’s make today count!"

What did you think of today’s edition?
Hit ‘reply’ to this email and let us know!

Reply

or to participate.