Real Estate News: 4 Headlines To Watch Now
Find out what’s happening in real estate and the economy that could impact your investment strategy, plans, and performance this year…
No Fed Interest Rate Cut Till June
Experts are now pushing back their forecast of a Fed rate cut until at least June this year. That’s not welcome news to millions who were hoping for a break from rampant inflation and high borrowing costs.
Though we could get a well timed rate cut or two before the presidential election.
For now investors need to make their plans based on where rates are at, with a cushion for even higher mortgage and loan rates as banks seek to offset risk and defaults.
The $400M Trump Fine, And The End Of NY
Former president Trump has just been hit with an almost $400M fine in NY, for boasting his properties were worth more than what the judge thinks they are worth.
This ruling has faced harsh criticism from the likes of Shark Tank investors and fund managers. This may be the final straw that has the last remaining investors pull out of NY for good.
It’s a reminder that values are always influx, they are just an opinion, and that opinion can be changed at any time.
It’s a fresh warning of what happened to many investors in the last great recession when banks began slashing credit lines and trying to force homeowners to accelerate the pay back of loans due to revised valuations.
Calls For $50 An Hour Minimum Wage
Forget $15 or $35 an hour. New calls are being made for a $50 an hour minimum wage. That’s about $100k a year. Which may really just be getting by for many households with kids these days.
In turn, it would either mean doubling or tripling inflation on goods and services to keep up with the wage increase, or companies having to lay off another 30% to 60% of their staff.
For real estate companies, it likely means consolidating with fewer team members, but of higher quality, and at higher wages.
The AT&T Outage
AT&T’s massive nationwide service outage is a fresh reminder to investors, entrepreneurs, and businesses that they cannot rely on just one connection.
For both phone service and internet, you need at least one additional back up, and remote alternatives on different providers so that you never get disconnected. You can imagine the havoc this can wreak with closings and deal flow.
These occurrences may become even more common has cyber attacks and online crime grow.
Top Funding News
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"I want thank you for the excellent service I received from Best Transaction Funding.The quick response I received from your company from the beginning of the transaction and to the end was unbelievable. I also want to give a special compliment to you as well. You went to great lengths to keep me informed and gave my title company all the information they needed to complete a successful closing. I cannot express how thankful I am. Such service builds great working relationships. I will definitely recommend Best Transaction Funding to all my fellow investors. Thank You."
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"You each deserve high marks for your wonderfully quick response time to each of our questions and requests! You hit home runs with us! Your application system was easy to use. Our deal met your qualifications and every time Rob Kozak or any member of Mystic Properties, LLC phoned, we received a "real" person dialing back to speak with us.
Your patience and persistence were exceptional in dealing with our business interests. Thank you for such great customer service! We look forward to working with your staff, again, in the future. We like referring people to you, as us, our team would have missed-out on an excellent earning opportunity.
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"Boy, you guys are impressive! I can’t thank you enough for scrambling and getting my deal done at the last minute like that. You and your team were awesome!"
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- Ericka B., Real Estate Investor, CA
