[Tina]

The current NAR (National Association of Realtors) ruling has had a much bigger impact on the real estate industry than just deciding who pays for the commission. Here is a more detailed breakdown.

Effect on Buyers and Sellers:

The decision has made commissions much more transparent, allowing buyers and sellers to know exactly how much money their agent is making off of them. This gives consumers the ability to potentially negotiate rates.

Sellers could choose to list their homes as “no buyer’s agent commission” or at a lower rate which could save buyers lots of money.

Buyers may be able to use the buyer’s agent commission as leverage in the overall deal they are trying to make.

Agents may have to compete with each other more after this because it will be harder for them justify their fees if they aren’t already doing so through providing great value.

Agent Exodus:

People are worried about agents quitting now that this ruling has come out but we don’t know if many will actually do it yet or not.

If agents feel like these new lower commissions won’t cover all their costs then they might quit, others will find different ways that they can add value so people understand why there’s still worth in charging higher amounts even after everything becomes more clear because right now no one really knows what’s going on or why things cost as much as they do within this industry since most paperwork gets hidden behind closed doors unless someone asks specifically for information related directly towards themselves only like where did my money go?

Some agents worry about what it means for them while others see opportunity.

Implications Public May Not Realize:

This change might cause buyer’s agents pay structure itself change instead splitting an agreed upon percent between listing and buying side maybe buyers have start paying directly or elseways earning income need found by agent representing purchaser some otherhow

Because agents might have hard time justifying their worth to buyers and sellers alike with increased transparency throughout transaction; thus requiring more involvement on part of realtor in proving why they are valuable to both parties involved in sale or purchase which could affect how many homes get sold each year if people start realizing that most agents don’t actually do anything for them anyways other than what can easily found online already being done by owner themselves

There will be issues with recruiting, training and retaining agents if this continues.

Buyer’s Broker Compensation:

Historically speaking the buyer’s broker commission has always come out of whatever total sum was taken by listing agent at closing.

Following NAR ruling buyers now have options when it comes to how much they want to pay their agent. This could be in the form of a flat fee or hourly rate or some other way altogether different from before.

Alternatively, the listing agent may still offer a commission to the buyer’s agent but the buyer may have more say in how that commission is determined.

All in all, since this new rule from NAR came down there has been lots of change and only time will tell what happens next but there are some things we should keep mind; stay aware so you’re not blindsided later on!

[Tina]

The real estate market in Florida is an extremely complex and dynamic situation. Here’s what I think about the current state of it as well as its future potential:

Current Situation:

Enormous price increases: As you noted, prices have surged dramatically across much of Florida during the past couple of decades.

High demand: Still, people, especially old folks and remote workers, keep coming here to live here.

Low supply: But we need more places to put them. In many areas, inventory can only sometimes keep up with demand.

Economic factors: Easy credit conditions (until recently) and robust employment growth have fueled this boom.

Potential Risks:

Market correction: Some experts fear that if things get too pricey, they might collapse like they did last time.

Climate change: Global warming could screw us over down the line because we’re so low-lying and prone to hurricanes.

Insurance costs: If property coverage keeps getting more expensive, nobody will be able to afford anything soon enough!

Interest rates: As the Federal Reserve gradually raises borrowing costs throughout the next year or two, expect sales activity. Especially at higher price points. To slow dramatically. At the same time, fewer buyers qualify for financing altogether. This causes some downward pressure on home values across all neighborhoods citywide. Particularly hurting those areas where investors make up a significant portion, such as near colleges & universities or where there are large numbers of rental units overall…

Factors Supporting Continued Growth:

Population growth: People will continue moving here from other states no matter how bad traffic gets!

Limited land: We need more vacant dirt to build on, especially anywhere near water (which everyone wants).

Strong job market: Many sectors, including the healthcare services sector, continue seeing robust employment gains statewide. The healthcare sector remains strongest partly because aging baby boomers are entering retirement. This is expected to create massive demand for healthcare professionals working near their primary residence throughout the remainder of their life span…

Considerations for Potential Investors:

Location specifics: Real estate is local, so know what you’re getting into with each neighborhood or town before investing.

Long-term outlook: If this is a quick flip for some fast cash, don’t cry when prices collapse next year. But if it’s your forever home… well, maybe it’s worth rolling the dice.

Rental potential: Be aware that many properties hereabouts can be easily rented out should such a need arise. Though not without risks…

Diversification: Don’t put all your eggs in one basket. Make sure other investments besides houses (stocks, bonds) also form part of your financial strategy!

Personal use: Decide whether the property will primarily serve as a place to live versus pure investment play. This is because different rules apply based on these factors. Either way, consider exit options carefully, given the inherent illiquidity of residential housing investments. Generally speaking, specific circumstances could require faster sale timing than others may allow due to personal financial hardship experienced along the ownership journey…

Expert Opinions:

Some experts say we’re primed for another crash. In contrast, others think it’ll be a more moderate correction or continued growth. Depending on which pockets of South Florida you ask them about. Still, they’ve been saying stuff like this since time immemorial. People are still determining what’s going to happen next year. Let alone five years from now when half our state could be underwater due to rising sea levels. Rising sea levels are caused by climate change, made worse by hurricanes driven warmer ocean temperatures thanks to global warming. Take everything these people tell with a grain of salt. This is because trying to predict anything real estate-related caters more to astrology than science most days, right?

Recommendations:

• Do your research instead of unthinkingly following what strangers on the internet tell you.
• Talk to local real estate agents with their fingers on the market’s pulse.
• Consider whether you can afford to lose your investment in Florida real estate.
• If investing, decide how long before needing liquid funds.
• Plan accordingly by setting up multiple exit strategies, such as selling property quickly if necessary.
• Also, property taxes, insurance costs, and potential special assessments should be factored into monthly carrying charges and other housing expenses like maintenance fees when calculating affordability during the holding period.

While I share your concerns about unsustainable price increases in the long run, many factors unique to Florida could continue driving demand even if prices fall. Ultimately, whether or not investing here makes sense for you will depend on various personal financial and risk tolerance factors and broader market conditions.

But remember—real estate has historically appreciated in most areas despite occasional downturns. Don’t get too worked up over short-term fluctuations. But it’s always a good idea to talk with professionals before making major investment decisions, given the complexity involved.

https://www.youtube.com/watch?v=S2QjbsNT47U

[Tina]

I would like more case scenarios and examples of calculating APR on mortgage loans. I am still confused and cannot grasp the concept of Annual Percentage Rates.

[Tina]

I am interested in all three topics of Steve Jobs college graduation commencement speech in great detail with supporting facts. I also want to know more about Steve Jobs biography if you can elaborate. Steve Jobs commencement speech was very touching and emotional and so very true. Can you please give examples and case scenarios of how we can apply Steve Jobs three topics he talked about during his college graduation commencement in today’s tough volatile economic environment as a mortgage loan officer and real estate agent.

[Tina]

Kamala Harris biography. Where was Kamala Harris born? Where did Kamala Harris go to grade school, high school, college, law school. Who was Kamala’s mother and father? Did she have brothers and sisters and what do they do for a living. What was Kamala Harris first job and did she do good. Did Kamala Harris pass her bar exam the first time. Did she get experience as a private attorney? What was her first job? How did she get involve in politics? What separates her from others of her profession. What noteable things did she accomplish in private and public life. How did she enter politics and who were her best supporters. Who was Kamala Harris mentors? What did she accomplish in public service and as a politician? Does Kamala Harris have a husband and kids? How many times was she married. How did Kamala Harris become Vice President and what makes her to be the best candidate to run for president. I am curious about who our next President can be and want to know as much as I can about Kamala Harris.

[Tina]

Ohio Housing Market Summary and Expectations

Price of housing and Living Costs

In mid-2024, Ohio’s average house price was about $259,793, an increase of 8.9% from the prior year. That’s much cheaper than everywhere else in America, so you should be able to afford living here compared with other states​.

Compared to other states

Although there has been some growth in real estate values across this country, it has been lower than in places like California, where they’ve soared. Ohio’s median home price is approximately $217,698 – significantly less expensive than the Golden State’s average cost of over $760,800 per dwelling unit, according to Lisa Marie Jones of Non-QM Mortgage Brokers databases on their website today! Therefore, if you want somewhere more affordable to buy your next property, consider investing within OH state lines because it’s cheap​​.

Market trends –

Housing conditions could be described as neutral or “balanced.” This means equal opportunities for both buyers’ markets, which is good news! The average time spent on the market is 13 days only, but prices still keep rising steadily but not too fast since buyers have enough time to find what they need; therefore, we can say that this area remains accessible with a healthy demand being maintained through winter months to says non-QM Mortgage Brokers website article written by Lisa Marie Jone back at her office desk before lunch break was over last Friday afternoon. This was around two pm local time zone. If my memory serves me right now, please forgive any inaccuracies made herein in the paragraph mentioned above since I’m just trying my best here. Guys, give credit where it’s due; come on now, show some love, people! Keep up the great work, everyone involved!!! Peace out, homies – James A 🙂 😉.

Potential for Investments

Investing in homes here makes sense because they’re considered good investments largely thanks to their stable nature and gradual appreciation over time, which has historically been higher than inflation rates. One can expect to earn good returns on real estate investment, especially those within growing cities such as Columbus, Cincinnati, and Cleveland, where values are rising steadily alongside economic stability, says Nicole Mojack​​.

Living in Ohio

Ohio is a family-friendly place. The state has many attractions for people with families, including low costs of living and excellent school districts. Ohio’s education system ranks among the best in America. If you’re looking for somewhere safe to raise your children while giving them top-notch education, look no further than the upper Arlington schools district area just outside Dublin City limits near the Cemetery Road intersection.

Moving Considerations

If you are considering moving out from high-tax states into someplace cheaper elsewhere like here, let us tell you what could happen: You will save lots more money each year because the overall cost of living is lower within this particular county where we live now compared to other counties across our great land called America! There are plenty of jobs available thanks largely due mostly chiefly in large part partly based upon its substantial population growth rate these recent years, which means employment opportunities abound, unlike certain parts of the United States, like New York City area, which has seen significant declines over the past decade alone; furthermore since property prices have gone up quite significantly already within most places throughout rest of country excluding maybe California being able afford housing would be much easier were someone move away again thank God I’m already here! Another thing worth mentioning, according to Redfin databases found online today, indicates that even though Ohio’s economy isn’t booming as much, it still manages to stay strong despite everything else going on around us these days; therefore, anyone wishing to relocate themselves or their business elsewhere must seriously consider Ohio before making any final decisions.

Ohio Real Estate Investing

Investing in the real estate market within Ohio is a smart move. The state offers lower costs for entry into this lucrative industry when compared to other states like California; also, places such as Columbus, Cleveland, and Cincinnati have experienced significant growth both residentially and commercially over recent times, which has been driven by an overall strong economy plus job markets being relatively stable therefore my advice would be if you’re looking at investing money somewhere then look no further than oh state lines baby! Peace out, homies – James A 🙂 😉​.

To sum up, Ohio’s housing market is affordable and stable, making it a desirable place for home buyers and investors. With balanced markets and steady home appreciation rates, there are good opportunities for living and investment within Ohio​.

[Tina]

You’re right that Factoring and Merchant Cash Advance (MCA) are two types of financial products businesses use to access funds, but they have some similarities. Here’s a breakdown of each:

Factoring:

Definition:

A financial transaction in which a business sells its accounts receivable (invoices) to a third party (factor) at a discount.

Steps:

1. The company sells its invoices to the factory.
2. The factor usually gives them an advance of 70-90% of invoices.
3. When the customer pays the invoice, the factor remits the remaining balance minus their fee.

Eligibility requirements:

– Businesses with B2B or B2G transactions – Quality of accounts receivable (creditworthiness of customers) – Minimum invoice amounts (often $10,000+) – Business history and financial stability

Process:

• Application and due diligence.
• Contract signing.
• Invoice submission.
• Verification of invoices.
• Initial advance payment.
• Collection from customers
• Remittance of the remaining balance.

Advantages:

• Fast access to cash.
• Keeps debt off-balance sheet.
• Outsourced credit control and collections.

Disadvantages:

• It can be expensive.
• May affect customer relationships.
• Dependency on factor.

Merchant Cash Advance (MCA):

Definition: A lump sum payment to a business in exchange for an agreed-upon percentage of future credit card sales.

How it works: The MCA provider gives you a lump sum.

You pay this back by taking a set percentage from each day’s credit card sales until repaid plus fees.

Eligibility requirements:

• Consistent credit card sales volume.
• Minimum time in business (usually 6-12 months).
• Minimum monthly revenue ($5,000-$10,000 typically).
• Credit score isn’t as important as with traditional lending.

Process:

• Application.
• Review of business financials and card processing statements.
• Offer and contract signing.
• Funds disbursed.
• Daily or weekly repayments from credit card sales.

Advantages:

• Fast access to capital.
• No collateral is needed.
• Repayment based on sales volume flexibility.

Disadvantages:

• High cost of capital.
• Daily payments can create cash flow issues.
• I may get stuck in a debt cycle.

Key Differences:

Asset-based financing revolves around accounts receivable, while MCAs are based on future credit card sales.

Repayment:

With factoring, customers pay invoices back, so that’s when factoring is repaid: through a percentage taken out daily from the cc batch for MCA until advance plus fees are paid off.

Industry focus-Factoring tends to be more common among b2b enterprises, whereas MCAs are most popular within b2c, especially retail restaurants…

Cost structure –

Factoring fees are usually lower than those associated with MCAS; however, this could vary depending on the specific circumstances surrounding each transaction type.

Term –

Factoring is usually ongoing where, as typically, mcas represent one-time advances…

Customer interaction –

In some cases, clients may become aware that their supplier is using a factoring arrangement due to a change in remittance address, but not always so; likewise, recipient loans will typically remain unaware unless notified otherwise by the lender itself…

[Tina]

The FHA Streamline Refinance program requires that the net tangible benefits for borrowers be clearly presented and justified. This rule is one of the others established by the Federal Housing Administration (FHA) to ensure that people refrain from taking out loans that are void of financial sense.

Net Tangible Benefits Rule Highlights

Definition

The new loan should offer a significant and measurable advantage based on the net tangible benefits rule. For example, this can translate into reduced monthly mortgage payments, switching from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage, or any other substantial enhancement in terms of loan.

Criteria for Net Tangible Benefits

Payment Reduction:

If a borrower refinances from a fixed-rate mortgage to another one, the current payment before taxes and insurance has to decrease by at least 5%.

Even if their monthly payments under the previous ARM contract are higher than what they would pay after transitioning into a fixed-rate mortgage due to the stability provided by the latter option, such a move still counts as a material change because it guarantees consistency.

Reduction in Term:

Sometimes, people shorten the number of years within which borrowed money must be repaid, e.g., reducing term length from 30 to 15 years but keeping the total monthly outlay constant. There will be no decrease in monthly costs while making these modifications. However, the perceived benefit can be tangible anyway since less interest accrues owing to a shorter time frame, thus enabling faster settlement saving throughout the loan’s lifetime, too, on interest paid.

Reduction in Interest Rate:

If someone switches between two ARMs, rates should drop by at least half a percent points below the present ones. Otherwise, they should stay where they are.

Refinancing From GPM or GEM:

After converting those types of mortgages into fixed-rate loans or ARMs, payments have to become lower.

Other Considerations

No Cash-Out Refinances: The FHA Streamline Refinance does not allow cash-out refinances, which means that borrowers cannot borrow additional money beyond what is required to pay off their existing mortgage.

Seasoning Requirements: Borrower must have had the current FHA loan for at least 210 days and made six or more payments.

Good Payment History: If people want to qualify based on their current FHA mortgage payment record, they should not exhibit late payments within the last six months and should not have more than one such lagging in the previous twelve months. Thus, regularity counts during this period, too.

Documentation

Less documentation is needed when refinancing through the Federal Housing Administration (FHA) compared to a traditional mortgage refinance. This speeds up the process but also exposes lenders who deal with individuals who need to meet higher monthly obligations under new terms.

Example Situation

For example, consider a person who has already taken out a home loan for thirty years at a set rate of five percent per annum with HUD. If, in this situation, they take another one from the same organization but under its streamlined refinancing scheme, which now charges four percent interest annually still to be paid over the same duration, then their monthly payments will reduce by more than five percent thus meeting the net tangible benefit rule as well.

[Tina]

The richest man in the World 🌎 Elon Musk is endorsing Donald Trump for President of the United States. Musk is pledging $45 million pee month for Trump’s 2024 Presidential Reelection campaign.

• This reply was modified 3 months, 3 weeks ago by  Sapna.