In this podcast Alex Ganea covers 4 different reasons as to why we’re experiencing this type of market.

1 Scarcity for sellers

Sellers are in a great position to sell their home and make quite a bit of money due to everyone seeing an increase in equity. Bloomberg released an article on December 9th in 2021 stating that the average American saw an equity increase of $56,700 in 2021.

However great the opportunity is to sell; sellers are more concerned about the buying of a house after the fact since inventory is so low!

2 PTSD of 2008 and the crash of the market

Many homeowners that lived through the 2008 crash are concerned that we are in another housing bubble and that it’ll eventually burst. Head over to our blog and read, “4 Simple Graphs Showing Why This is Not a Housing Bubble”.

3 Supplies and Prices for Supplies to Build New Homes

With rising inflation plus supply and demand putting an even higher price tag on things such as lumber and other materials to build houses, builders are struggling to build in time and for a sellable price.

4 Greed of Timing the Market

No matter how many of tried what usually happens is that people buy or sell on the way up or on the way down in the housing market, never at the peak. Do your due diligence and research, yes! Make sure it’s a good deal, great! But also look at the reality. The market won’t hold at this level forever. Look at the possibility that if you don’t pull out your equity now, you may be waiting another 5-7 years before this opportunity arises again. Buyers, housing prices are rising as are interest rates. If you can lock in a rate now, you’re set until the next uptick in the market!

Be sure to follow our social media accounts to learn more!

"I can list my home for $50,000 over its value and still sell in 4 days, right?!" Wrong!

Today Cynthia Upp walks us through the importance of pricing your home correctly and having a strategy to sell quickly.

In the past two years, many may have listed as explained above and still sold, which is great, but we're starting to see apprehension from buyers and appraisers.

It is better to price correctly the first time and get multiple offers to choose from rather than list high and have to do a price change. Price changes often push buyers to believe there is something wrong with the home when in reality it may just be that it was priced too high, to begin with!

Let us know your thoughts in the comments and share this with your friends and family if you found it helpful!

Podcast Credit:

Cynthia Upp - E&V Advisor

+1 (509) 879-6371

CynthiaUpp.evrealestate.com

Cynthia.Upp@evrealestate.com

In todays episode of The E&V Spokane Experience Riley Anderson walks us through the different kinds of real estate investing such as fix and flip, buy and hold, REIT's, and wholesaling.

Riley also covers how much money you need to start, if you current home is seen as an investment and briefly touches on creating risk assessments.

With the world of real estate investing being flush with opportunity and knowledge, please keep in mind that this truly only scratches the surface! Below you will find resources to blog posts about real estate investing and Instagram accounts to follow along with.

Blog Posts:

• https://spokane.evrealestate.com/blog/different-types-of-real-estate-investing/

• https://spokane.evrealestate.com/blog/building-your-real-estate-portfolio/

Instagram Accounts:

• https://www.instagram.com/melefante6/?hl=en

• https://www.instagram.com/jonjfarb/?hl=en

• https://www.instagram.com/investwithace/?hl=en

Book Referenced:

• Rich Dad, Poor Dad by Robert T. Kiyosaki

Video Credit:

Riley Anderson - E&V Advisor

+1 (509) 710-3164

RileyAnderson.evrealestate.com

Riley.Anderson@evrealestate.com

Join us today as Cynthia Upp walks first-time homebuyers through how to best prepare to purchase a home.

Cynthia covers where to begin whether it be with a real estate or local lender and then goes on to explain what you need to present a strong offer on a home. With it still being a seller's market Cynthia's insight could be the difference between you locking in that home or having to wait for another couple of years.

Podcast credit to:

Cynthia Upp - E&V Advisor

808 West Main Ave • Ste 229

+1 (509) 879-6371

CynthiaUpp.evrealestate.com

Cynthia.Upp@evrealestate.com

INTEREST RATES ARE RISING! But what does that mean for you?

Say you’re only able to pay a $2000 a month mortgage. Then the price of the home broken down over 30 years (principal) + interest (Ex. 4%) + PMI (if applicable) HAS to equal $2000.

Say you’re looking at a house that’s $400K with a 4.5% interest rate. This payment will equate to $2000+ a month. So that home is now out of your budget.

However, if you were able to get that $400K home at a 4% interest rate or lower, then that house may fit into your monthly payment range!

Let's look at history:

All-time high-interest rate: 18.63% Oct 1981, 30-year mortgage rate

All time low-interest rate: 2.65% Jan 2022, 30-year mortgage rate

Now we’re working our way back up again. This is not meant to discourage you yet instead simply show you the power that interest rates have in changing your monthly payment on a home. No one can predict the future, unfortunately, but with the knowledge that interest rates are rising, if you’re able to purchase now, do it!

*Note* These numbers are simply examples! To get accurate and precise numbers for your specific situation, speak with a lender.

Video Credit:

Riley Anderson - E&V Advisor

+1 (509) 710-3164

RileyAnderson.evrealestate.com

Riley.Anderson@evrealestate.com

Be sure to follow us on IG and FB to follow along. @evspokane