Mark’s Market Update – 5/12/2022
So, you wanna buy a home?
YEARS AGO, when I started in mortgage lending, I started in the First Time Homebuyer market. It is a very, very rewarding market, but also one of the most challenging. The people I worked with invited me to their housewarmings, BBQs, and weddings. I loved it and still do.
However, First Time Homebuyers have particular challenges that are unique: not knowing the process, not necessarily having been taught basic financial planning techniques, having some skeletons in their closet from when they were younger and less responsible (and paying for those skeletons today), and, of course, the overarching theme: Fear. No one likes to get emotionally attached to the concept of buying a home and then find out…they can’t.
I help with the fear, the education, and the help. I’ve seen it all, done it all, experienced it all.
Watch the video for some basic hacks to understand –
- The 5/4/2 Model – without knowing what it is – you’re starting the race on, literally, the WRONG track!
- There’s that word again, “Local”. Why do you keep saying that?
- Every First Time Homebuyer needs to have a “hoe” in their life…but make sure you understand what it is…it may not mean what you think it means.
Rates are stable – but higher. The stock market sucks. BUT, you know what? The stock market is on sale! I’m buying stocks right now – because they’ve been discounted.