The U.S. housing market is missing about 320,000 home listings valued up to $256,000, the affordable price range for middle-income buyers (households earning up to $75,000). Middle-income buyers can afford to buy less than a quarter (23%) of listings in the current market. Five years ago, this income group could afford to buy half of all available homes. Among the 100 largest metro areas, El Paso, Texas; Boise, Idaho; and Spokane, Wash. have the fewest affordable homes available for middle-incom...
Jun 27, 2023•15 min
Four years after first taking up the issue, Dallas City Council voted just before midnight Wednesday to ban short-term rentals or STRs like Airbnb and Vrbo in areas with single-family zoning. Roughly 1,000 STRs are currently registered in single-family areas and would now become illegal with enforcement beginning in December. Thousands of others are estimated to be currently operating across the city. Until now, STRs operated without any regulations to manage them. I breakdown -The reason Dallas...
Jun 20, 2023•17 min
After its sharpest flurry of interest rate hikes in four decades, the Federal Reserve held its key rate steady Wednesday but signaled two more increases are likely this year as officials continue to battle high inflation. That’s more projected hikes than financial markets and many economists anticipated. The decision leaves the benchmark rate at a range of 5% to 5.25%. It marks the first meeting at which the central bank hasn’t raised its federal funds rate since January 2022. This is a show for...
Jun 15, 2023•10 min
In a recent Fox Business interview, real estate entrepreneur and “Shark Tank” star Barbara Corcoran shared her prediction for when home prices will rise, how much she expects them to increase and more. I take a look at the data to show why she is right. This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth gap. 🏠🏡🔑🗝️🏠🏡🔑🗝️🏠🏡🔑🗝️Important info b...
Jun 13, 2023•11 min
Rep. Jimmy Panetta (D-CA-20) and Rep. Mike Kelly (R-PA-16) introduced the More Homes on the Market Act, which would amend the tax code to incentivize more homeowners to sell their houses and increase the market supply. This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth gap. 🏠🏡🔑🗝️🏠🏡🔑🗝️🏠🏡🔑🗝️Important info below ⤵️ 🤠I'm a Realtor in Dall...
Jun 09, 2023•5 min
How to house hack your way to financial freedom. -My person experience with house hacking -House hacking multi-unit and single family properties -House hacking with a conventional, FHA and USDA loan -How to screen and find tenants as a new landlord -Setting your goals when house hacking This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth gap. 🏠🏡🔑🗝️...
May 23, 2023•31 min
Rental scams are becoming more and more prevalent. In this episode we cover -How to vet the listing online before you contact the "landlord" -How to vet the "landlord" if you meet in person -Why you need to meet your "landlord" in person -Red flags when it comes to providing money to the "landlord" This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to bu...
May 16, 2023•12 min
We discuss how the Federal reserve's May 3rd, 25 basis point rate hike impacts the housing market, how inflation is driving the rate hikes and where interest rates have been and where they may go. The Federal Reserve raised its key interest rate another quarter of a percentage point on Wednesday in its ongoing bid to crush inflation, but indicated it could pause the increases to assess the impact of monetary tightening on the U.S. economy. The Fed's rate-setting body said it would raise ...
May 09, 2023•7 min
Getting under contract is only part of the home buying process in today's episode we discuss -Making sure your mortgage pre-approval is solid - What your underwriter looks for -4 things you need for a mortgage approval -Loan Estimate v a Closing Disclosure -Why the mortgage process "takes so long" This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close ...
May 02, 2023•15 min
Fannie Mae and Freddie Mac will enact changes to fees known as loan-level price adjustments (LLPAs) on May 1 that will affect mortgages originating at private banks nationwide, from Wells Fargo to JPMorgan Chase, effectively tweaking interest rates paid by the vast majority of homebuyers. The result, according to industry pros: pricier monthly mortgage payments for most homebuyers — an ugly surprise for those who worked for years to build their credit, only to face higher costs than they expecte...
Apr 25, 2023•8 min
The Federal Housing Administration (FHA) published for feedback a draft update to its requirements for insuring mortgages on single family homes with Accessory Dwelling Units (ADUs). The proposal adds additional flexibility in calculating market rent and in using ADU rental income to qualify for FHA-insured mortgage financing. If finalized, these updates would allow more borrowers to qualify for FHA financing for properties with ADUs, including 203(k) renovation loans. FHA’s action today advance...
Apr 18, 2023•8 min
The news about the FHA new 40 year loan is inaccurate it is based on an article from @abc15 in Arizona, that did no research on an old story. The truth is the FHA announced this news months ago and formalized it in an announcement on March 8th. In this episode I break down -what the 40 years pertains to -How to vet false mortgage information -The pro and cons of a 40-year FHA mortgage is the story was accurate The true announcement: https://www.federalregister.gov/documents/2023/03/08/2023-04284...
Apr 11, 2023•6 min
These are 7 things you should consider when buying a new construction property. This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth gap. 🏠🏡🔑🗝️🏠🏡🔑🗝️🏠🏡🔑🗝️Important info below ⤵️ 🤠I'm a Realtor in Dallas, TX. If you're looking to move to the Dallas, TX area or a local looking to buy I'd love to help. I'm Veteran (Go Navy!!) an...
Apr 06, 2023•12 min
When buying a new construction property it is important to understand how the property near you is zoned. This is because what is built near you can negatively or positively impact your property values. This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth gap. 🏠🏡🔑🗝️🏠🏡🔑🗝️🏠🏡🔑🗝️Important info below ⤵️ 🤠I'm a Realtor in Dallas, TX. If you&#...
Apr 04, 2023•9 min
In this episode I breakdown the pros (mostly) and cons of buying a home in 2023 versus waiting until 2023. I discus the financial cost of waiting, seller concessions, the level of competition and why it may benefit FHA buyers to purchase now. This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth gap. 🏠🏡🔑🗝️🏠🏡🔑🗝️🏠🏡🔑🗝️Important info below ⤵️ 🤠I...
Mar 30, 2023•6 min
We cover the amount you have to finance through a mortgage loan and the long-term commitment you’re making to real estate can be overwhelming. Completing a mortgage payoff early could save you a bundle of money, not to mention years of not having a big payment hanging over your head each month, according to Dave Ramsey, financial guru, author and host of “The Dave Ramsey Show.” -Extra payments on your mortgage -Bring your lunch to work -Pretending to do this -Getting smaller -Planning when buyin...
Mar 28, 2023•13 min
The docs most mortgage lenders will require when buying a home are details in this episode. I also cover scenarios where mortgage lenders may require more or less documentation. This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth gap. 🏠🏡🔑🗝️🏠🏡🔑🗝️🏠🏡🔑🗝️Important info below ⤵️ 🤠I'm a Realtor in Dallas, TX. If you're looking to move to ...
Mar 23, 2023•7 min
Nine out of 10 homeowners who bought a home in the last three years say they were unprepared for the extra costs of maintaining and financing their property, according to a new survey of 1,000 U.S. homeowners by Real Estate Witch, a real estate education platform. https://www.cnbc.com/2023/03/17/90-percent-of-homeowners-underestimated-costs.html 🤠I'm a Realtor in Dallas, TX. If you're looking to move to to the Dallas, TX area or a local looking to buy I'd love to help. I'm Veter...
Mar 21, 2023•12 min
The United States is not building enough homes to account for the number of people setting up their own households. As a result, there is a sizable shortage of new homes after more than a decade of under-building relative to population growth, according to a new analysis from Realtor.com released Wednesday. The gap between single-family home constructions and household formations grew to 6.5 million homes between 2012 and 2022. However, this figure overstates the housing shortage, since new mult...
Mar 16, 2023•9 min
I breakdown the Silicon Valley Bank Collapse so that the average person can understand it. I also talk about how it could cause the Federal Reserve to lower interest rates and impact the housing market. I also talk about my experience working at a tech firm and not getting paid. Regulators shuttered SVB Friday and seized its deposits in the largest U.S. banking failure since the 2008 financial crisis and the second-largest ever. The company’s downward spiral began late Wednesday, when it surpris...
Mar 14, 2023•6 min
If you've thought about fixing your credit or paying someone to do so stat here. We cover -Where to get your credit report and how to determining your mortgage specific credit score -Why you need a budget when fixing your credit -Categorizing derogatory even in your credit report -Does freezing bureaus help with credit repair -High lever overview of disputing items on your credit report -How to talk to debt collectors -How to remove inquiries from your credit report This is a show for millennial...
Mar 09, 2023•17 min
In this episode we discuss the "gridlock" between homebuyer and seller in the housing market due to todays high mortgage rates. We discuss why this benefits new home builders, how the rates impact the average home owner and what's next for the housing market. This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth gap. 🏠🏡🔑🗝️🏠🏡🔑🗝️🏠🏡🔑🗝️ 🤠I'm a R...
Mar 07, 2023•7 min
In this episode I breakdown what lead to corporations jumping to the residential housing market, the 5 biggest corporate purchasers of residential homes, where corporations are buying the most residential homes and the cities where rental prices have gone the most. The single-family rental industry got its start with government backing in the fallout after the 2008 financial crisis. “It was that rare opportunity that attracted the institutions to build a portfolio out of these foreclosed propert...
Mar 02, 2023•7 min
Renowned minister and author Bishop T.D. Jakes wants to help close that gap. He launched a new initiative pooling together his wealth and resources to make the dream of homeownership a reality for more of us. In this episode i discuss the African American home ownership which hasn't changes much since 1968, the community TD Jakes is building next to Tyler Perry Studios, the community mix and job and credit recourses TD Jakes in bring to the community. T.D. Jakes Real Estate Ventures, LLC. (TDJ R...
Feb 28, 2023•7 min
The Biden-Harris Administration announced an action that will save homebuyers and homeowners with new FHA-insured mortgages an average of $800 per year, lowering housing costs for an estimated 850,000 homebuyers and homeowners in 2023. I'm going to breakdown the math behind this move and if it should result in you actually changing your decision to buy a home in 2023. Vice President Harris and Department of Housing and Urban Development (HUD) Secretary Fudge will travel to Bowie, Maryland, today...
Feb 24, 2023•2 min
I cover 7 FHA facts most realtors and lenders don't know. Some of the items we cover are -The real FHA loan down payment -How to have multiple FHA loans -The amendatory clause -FHA self sufficiency test -The special DTI requirements for community property states -The appraisal timeline requirements This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth ga...
Feb 23, 2023•13 min
A DSCR loan is underwritten based on property-level cash flow, rather than personal income. DSCR or Debt-Service Coverage ratio is a tool to help lenders understand a borrower's ability to pay back a loan based on the monthly rental income of the property. DSCR is a simplified way to measure cash flow and is calculated by dividing the monthly rent by the monthly principal and interest payments, taxes, insurance, and association dues (PITIA). ratio is a tool to help lenders understand a borrower'...
Feb 21, 2023•10 min
I review Rachel Cruze of Dave Ramsey's Solutions Tips for First-Time Home Buyers. She covers items such as: *Being debt free before buying a home (shocker right) *Affordability v what you can qualify for when buying a home *The best loan types for 1st time homebuyers (I disagree whole heartedly with this) *Budgeting for down payment on a home (she makes a common mistake most make) *Talking to a lender or realtor first (I like this) *Get clear on needs versus wants (my favorite one) https://www.r...
Feb 16, 2023•20 min
In this episode I discuss how to get 12 units in 12 months by house hacking using the FHA underwriting guidelines in your favor. I also discuss the FHA self-sufficiency test and what an underwriter looks for when determining if a multi-family home can be your primary residence. This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth gap. Home Buyer Educati...
Feb 14, 2023•6 min
We discuss what 1st time and multiple home buyers thought about their decision to buy a home in 2020 and 2021 during what some are calling the housing bubble. We cover topics such as.. * How did the housing market impact your home-buying experience? * What percent did you pay over asking price when buying a home? * What was the purchase price of your home? * How many offers did you make before yours was accepted? * Did you make a sight-unseen offer on a house? * How long did you search for a hom...
Feb 09, 2023•20 min
