The Double Comma Club
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We believe in sleeping better at night knowing you've built financial diversity, security and multigenerational wealth. We believe in the power of real estate. The Double Comma Club wants to transform your family wealth into something sustainable.
Available episodes
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1 day ago
Should You Get an Adjustable Rate Mortgage?
What is an adjustable-rate mortgage? and the bigger question is should you get an adjustable-rate mortgage?
Inquiries regarding Adjustable Rate Mortgages are picking up steam!
An ARM can help buyers expand their qualifications because they tend to have lower interest rates when we are in a rising interest rate market... like today. But with a lower interest rate comes a bit more risk.
So before buyers jump in and say that this is their "golden ticket," let's break down what an ARM is, highlight the pros and cons and discuss who can benefit from ARM financing.
Have questions? Feel free to reach out to my team and we'd be happy to answer them for you :)
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Glossary moment: A couple of terms covered in this episode: SOFR and LIBOR.
The main difference between SOFR and LIBOR is how the rates are produced. While LIBOR is based on panel bank input, SOFR is a broad measure of the cost of borrowing cash overnight collateralized by U.S. Treasury securities in the repurchase agreement (repo) market.
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3 days ago
Tips and Strategies to Get Under Contract.
If you talk to two different real estate agents in the Denver real estate market, you will get two different stories. However, the theme remains the same, the housing market is in a constant state of flux. Just when we think we know where it's heading, it flips a 180! This episode is about a tale of two markets - Tips and Strategies to Get Under Contract.
I know buyers and agents are frustrated, but we are here to help you gain a competitive advantage and WIN your deal.
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5 days ago
Four Reasons a Recession Will Benefit You
What will housing look like in a recession? A recession will be good for housing. Recessions usually bring lower interest rates which will bring on strong demand. Strong demand on top of birth rates 30-33 years ago and high liquidity brought on by the Fed. Lower interest rates when supply is challenged by "interest rate lock", aging in place, investor buyers, and builder backlog.
Headlines want you to be worried. I want you to jump in. From my seat, the sooner you get in before a recession comes, the more opportunity for equity growth, when demand spikes and home prices rise.
Want to know what you can do? Let's talk!
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May 13, 2022
What does it mean if the housing market is slowing?
Slowed Appreciation DOES NOT Mean Loss of Value! CoreLogic expects a 5.9% appreciation over the next 12 months. Denver is always hotter and CoreLogic is super conservative! That means on a median price home, conservatively, you will gain another $37,000 in equity AND get to refinance with our new Refinance Guarantee!
What will housing look like in a recession? A recession will be good for housing. Recessions usually bring lower interest rates which will bring on strong demand. Strong demand on top of birth rates 30-33 years ago and high liquidity brought on by the Fed. Lower interest rates when supply is challenged by "interest rate lock", aging in place, investor buyers, and builder backlog.
Headlines want you to be worried. I want you to jump in. From my seat, the sooner you get in before a recession comes, the more opportunity for equity growth, when demand spikes and home prices rise.
Want to know what you can do? Let's talk!
Here's some of the math we cover in this episode.
As of April 2022, the median closing price in DMAR is $624,950 This means the loan is $499,060 at 5.5% with a 20% down: $2839/month principal and interest payment.
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$661,822 if it appreciates as CoreLogic predicts at 5.9%, putting 20% down. The loan is $529,457 with 20% down at 5.9% interest rates. $3006/month principal and interest.
Costs more to wait if interest rates don't go down.
What if they do and you can refi and get that $1000 credit from us that we talk about in this episode?
Suppose it goes down to 4%, the payment drops to $2,528 - the home price has been locked in and it will continue to grow in appreciation. You kept the $37,000 or so and get a lower payment.
Listen to find out more.
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May 11, 2022
Know Your Definition of Success
Multiple world record breaker, and international keynote speaker Ryan Avery sat down with Nicole to continue what he started at The Next Big Thing Colorado in January. He's helping us redefine "Celebrate" - it's about the try, not the acknowledgment. He has a fantastic story about failure, that wasn't. You'll rethink the trite and terrible phrase, "Going outside your comfort zone." and so many more shifts to consider. Please do not miss this episode of The Double Comma Club with Ryan Avery.
Want to find Ryan? Don't look on social media. He has no time for that, he's too busy going in person around the globe to help people redefine success. Go to ryanavery.com.
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May 6, 2022
Appreciation is dropping, will home values follow?
Did we peak in February? Both average and median price growth slowed in April. Looking back, month-over-month median price growth started out flat in January, yet low inventory and strong pending home sales provided a strong close-to-list of 102%. (meaning the average buyer was paying 2% over asking) In February, prices rose a strong 6.5% in one month, as active listings stayed depressingly low, pushing close-to-list up to 105%.
March saw a swell of much-needed inventory if you can call 6,020 newly listed homes a swell, giving buyers a few more choices but no extra days. Days on market stayed at 4; while the close-to-list increased to 106.5% even while median home prices softened to a 4.8% month over month increase. April’s data reflected a slowing median home price growth again as it increased only 3.81% from last month with almost 7,000 homes hitting the market, yet the close-to-list continued to increase to 107%.
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May 4, 2022
Interest Rates are Increasing, is a Recession Looming?
Homebuyers should hear this... NOW IS THE TIME! You do not want to be on the other side of a recession because when interest rates fall, demand will spike again! We simply do not have enough inventory to satisfy that demand once it comes. So while your rate may be lower, the competition will ramp up, the probability of bidding over ask will be higher and there won't be as many homes to choose from. Listen to this episode of The Double Comma Club, "Interest Rates are Increasing, is a Recession Looming?".
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Apr 29, 2022
Holding Out for the Must-Haves in Your Next Home
It's one thing for an expert to tell you what you should do when investing in a home, refinancing, and selling. But when you have an opportunity to hear a real start to finish story from a home buyer to held out for the full must-have list and then successfully purchased a home in the Denver market, you will be riveted. Kara Palffy is Nicole's guest. She's the Business Development Manager at The Rueth Team. Buying her second home, selling the first, and all of the hours required make for the best kind of story. Nicole asks Kara about what she had to do to prep her home, how much they actually got over asking, why they decided to NOT add to their real estate empire and sell their first house instead, and how their goal of staying in this home for many years affected several decisions.
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Apr 27, 2022
Reverse Mortgages Used as a Smart Financial Strategy - not the loan of last resort from the past
So how old do I have to be, to take advantage of a reverse mortgage? Generally speaking, we say 62 years old because the FHA product, which is the most commonly used program today requires one of the homeowners to be 62. However, we also have non-FHA programs that will allow clients as young as 55 years old to get into a reverse mortgage. Nicole asked Gabe Bodner, Retirement Mortgage Specialist on The Rueth Team, "What's the biggest benefit to a homeowner to want to look into this further? And, what is the advantage to me and why should I look into this right now? If I'm 55 to 65 years old?"
I think that we're finally starting to see the transition and the mentality shift between our realtor partners and our financial advisor partners, where they're starting to see that, WOW!, this is such a powerful tool that it shouldn't be utilized and viewed as if I'm running out of money. Then I should look at doing a reverse mortgage. It is now being viewed as a smart financial strategy where we're seeing clients with millions of dollars of assets under management, look at doing a reverse mortgage because of the tax benefits. It is no longer the loan of last resort. This is a smart cash flow tool for anybody looking at tapping into their home equity to preserve their assets under management.
Tune in to this 9-minute episode to learn more.
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Apr 21, 2022
What is the difference between FHA and conventional loans?
And do you know which is better for you? I don't believe that one of these loan programs is 'better' than the other. However, I do believe that one may work better for YOU. FHA and Conventional Loans each bring something different to the table, thus working better for one type of buyer over the other. You don't need to know the hyper-specifics of each program, that's what we're here for. But it can be helpful to have a basic knowledge and ask your mortgage lender the right questions. Listen to this 7-minute episode of The Double Comma Club, "What is the difference between FHA and conventional loans?"
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Apr 20, 2022
6 Reasons Why Home Prices are Increasing
It's no secret that the real estate market, ESPECIALLY in Denver, has seen a dramatic increase in home prices. According to CoreLogic, the national median home price grew at an all-time high 18.8% year-over-year in December 2021. Homebuyers are feeling the rise in costs of EVERYTHING, and the increased home prices are not going away anytime soon. The cost of waiting is extreme! It's time to get off the fence and into a home. Be sure you give my team a call and let's come up with a strategy that begins building long-term wealth through real estate.
Nicole goes into details in this 14-minute episode about each of the reasons:
1) Artificially low mortgage rates during the pandemic
2) Low housing supply
3) Millennial household growth
4) Inflationary actions by the FED
5) Building costs & inflation
6) FOMO
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Apr 15, 2022
What Happens After You Leave the Closing Table?
You just spent a lot of time, effort, and money getting into your new home... but what's next? There are some important things to take note of in the months following closing day such as:
* Your first mortgage payment
* HOA Payments
* Utilities
* Home renovations
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Apr 13, 2022
Why You Should Buy a House in Today’s Denver Market
Buy NOW to have options later. Real estate is still the number one hedge against inflation and the potential to build long-term wealth is still there!
Although the real estate market is tough right now, you have to get in in order to build long-term wealth, earn appreciation, use the equity you've built for a renovation or a move up and you can always refinance once things calm down.
Your long-term goals can be achieved through owning a home and we want to help you get there. As always, don't hesitate to reach out if you're ready to start or complete your homebuying journey.
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Apr 8, 2022
Look at the 30-year mortgage rate history; today is the best day to buy.
Interest rates just hopped up again! The market today remains an extremely volatile place and is in a constant tug of war with the FED, unemployment rates, inflation, the war and all other factors! So, is it still a good time to buy a home? My answer remains the same as the Denver market continues to build equity, financial security, and supports our highly qualified buyers. Here are a few things you should know heading into this weekend.
Here's some history on mortagae rates:
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Apr 6, 2022
IsThere a Housing Bubble and Will We See a Recession?
We've again been flooded with headlines on the impending doom of a housing market crash. As homebuyers right now, it can be hard not to fall into the trap of waiting. I get it. There's a flood of information being thrown at you, but this video will help cut through the noise.
* First, there is NO bubble. We simply have too much demand, insane equity built up in our homes and a HIGHLY QUALIFIED pool of buyers entering the market.
* Second, a recession is OK. A recession is defined as 2 consecutive months of GDP Decline... that's it. As prices of everything continue to rise, consumers will start to make decisions; spending less, saving more, pushing GDP down. This will allow the supply we all desperately crave to CATCH UP to demand, giving buyers more options!
* Third, a Refinance is your best friend. We don't know exactly what the market will do tomorrow, or one week from now, or a few months from now! Lock in the here and the now, and start building long-term wealth through real…
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Apr 4, 2022
DMAR April 2022 - We need a recession.
A recession is exactly what we need right now. And it's good for housing. So what am I talking about? The two in tenure treasury yield had a small 0.05 spread as March ended. This is on the verge of inverting, which is a high validity recession indicator of five of the last six recessions that were all proceeded by an inversion. However, today we also have incredibly strong labor market. The unemployment number just came out at 3.6%, which is a post-pandemic low. In fact, unemployment has only been lower than 3.6%, three times since 1950 non-farm payroll saw robust 431,000 jobs added, which is alongside 11.3 million job.
If you remember an inventory in 2018, when rates pushed above 5%, 1,827, new listings came on the market during March that's a 44% month of a month increase, but more than half of those new listings were scooped up as pendings increased by 1039 and closed homes increased by 941.
While more inventory might give buyers a little more breathing room, they are not giving…
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Apr 1, 2022
Is there a housing bubble?
Will the housing market crash in 2022? Here is your DMAR Real Estate Market Update. The real estate market is INTENSE right now, and news headlines are doing a very good job of scaring us into thinking that we are heading towards a housing bubble burst. But the truth is, there is NO BUBBLE.
Yes, interest rates and prices are rising, but the amount of equity and demand we are seeing DOES NOT constitute a bubble ready to burst. If anything, a little slow down in market activity will give supply a chance to catch up, giving homebuyers more options.
I encourage you to always take a look at the facts, and keep an open dialogue with yourself, your realtor and your lender on your affordability and expectations in the housing market.
Nicole Rueth, The Rueth Team of Fairway Independent Mortgage Corporation 750 W Hampden Avenue, Suite 500, Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com
Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://tw…
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Mar 30, 2022
Why is Debt to Income Ratio Important When Buying a Home?
Your Debt to Income Ratio is a key metric of analysis lenders use when you submit a loan application. It gives us a good indication of how much you can afford in relation to the debts you currently hold. In the Denver Real Estate Market there is a LOT going on... little inventory, increasing rates AND increasing prices. So, how does that affect homebuyer affordability? Well, with all this activity, what you were approved for might not work anymore... and optimizing your DTI just became that much more important. In this episode, Nicole will walk you through what is part of your monthly debt and what are the exceptions. Listen at least once. Share this with your family and friends.
Tip: The car doesn't care about the house, but the house cares about the car. Make your purchases in the right order.
Tip: how do you calculate your debt-to-income ratio?
To calculate your debt-to-income ratio, you add up all your monthly debt payments and divide them by your gross monthly income. Your gros…
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Mar 28, 2022
Rising Home Prices and Increased Interest Rates - Get in it now.
Rising Home Prices, Increased Interest Rates - What Options do Home Buyers have in 2022?
Rates are going up and so are home prices. Don't get caught (like the Fed) with your pants down. Strategies going into this previous weekend and week. It's changing fast!
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Mar 25, 2022
Gaining the Upper Hand to Be the Winning Offer
In a hot seller's real estate market, buyers need an upper hand! I know it's frustrating seeing interest rates and home prices on the rise, but The Rueth Team has a TON of strategies in place to help buyer's offers stand out, grant seller security, and get everyone to the closing table on time and happy.
From TBD Underwriting, Fairway Cash Guarantee, up to $15,000 Earnest Money Guarantee, 8-10 Day Closings, AND MORE, we've got the stuff that will help you make homeownership a reality!
Listen to this 6-minute episode, "Gaining the Upper Hand to Be the Winning Offer", for quick tips.
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Mar 23, 2022
Interest Rates and Inflation Explained
Where are rates headed? It seems like right now mortgage rates and inflation are going hand in hand. The cost of everything is up, including housing, gas, food, etc. You see it, I see it and we are all feeling it.
No one could have predicted a pandemic and a war in a 2-year span, and the housing market is constantly responding. Interest rates are on the rise, inflation is hot and international conflicts are all taking their toll.
As real estate agents and professionals, it's important to recognize the changes in the marketplace so that we can better advise clients and be their number one supporter.
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Mar 18, 2022
What are mortgage points?
What are mortgage points? Is it worth it to buy down your mortgage rate using mortgage points? How long will it take to earn your money back if you buy your rate down?
Mortgage points are essentially a way for you to buy down your market interest rate by paying more money upfront. This can help with cash flow and even help you afford more home and a bigger loan. While this sounds great, you shouldn't assume that buying down your rate using loan discount points is the best decision for your financial future.
You need to know what fits your immediate situation, and your near future plans, as well as longer-term investment plans. Just buying the rate down may not be the most logical.
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Mar 16, 2022
Ways first time home buyers can take advantage of small opportunities
Being a first-time homebuyer in the Denver Real Estate Market is no easy feat. You're feeling it, your real estate agent is feeling it and I AM TOO! But this is your sign to not give up! We are giving you OPTIONS to get on the path to homeownership with flexible loan solutions, down-payment assistance programs, and creativity in terms of location and type of home (AKA a duplex ;D). While the first home may not be the dream home, it's a stepping stone to getting there.
Some points to be aware of if you are considering a multi-unit plan:
* First-time homebuyers - be aware if you are doing multiple-unit - know all the HOA, taxes, and insurance fees.
* Having property managers for rental properties can really help you only put 3.5% down.
* If you are thinking you can boost your qualifying by counting that roommate income, you can't use roommate income to qualify. Only rental income from a LEGAL unit qualifies.
* Having an auxillary dwelling unit, basement unit may help with your…
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Mar 14, 2022
Four home loan programs to consider - VA, FHA, Jumbo and Jumbo LLC
Typically VA loans have their own acceptance problems because they are 100% loans. Rethink them and all of these options covered in this episode. VA, FHA, Jumbo and Jumbo LLC loans can give buyers OPTIONS to get into a home and start building equity; so that one day they can afford to get into their forever dream home. There are several loan options for buyers that may not have all of the ideal qualifications, money down or budget to compete in the Denver Real Estate Market. It's hard. We know that. But here is what you need to know about 4 Loan Programs that are lesser-known, but can open the door to homeownership. Let's get creative and talk about multi-units.
If any of these solutions spark your interest, or you have any other questions, please reach out to my team and me using the information below.
Nicole Rueth The Rueth Team of Fairway Independent Mortgage Corporation 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com
Connect on social media:…
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Mar 11, 2022
Is It Worth To Bid Over The Asking Price?
How much over asking do I need to go? It's an intense market. Is it necessary to bid over the asking price right out of the gate in the Denver Real Estate Market? Market trends die out before home buyers can catch up. So, whether or not you go in swinging big, this episode may help you decide. You may have to prepare yourself and ask the big question, "Can I have the last ask?"
Market trends die out before home buyers can catch up. So, whether or not you go in swinging big is really up to you! Communicate with your agent and ask:
* How much over the asking price should you bid?
* When will I break even?
* Is that dollar amount over ask and the time to make it back worth it for you?
These are all questions you should ask yourself when deciding if bidding $100K over ask is reasonable given your specific situation.
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Mar 4, 2022
DMAR March 2022 - Real Estate is Globally Affected
Denver appreciated 19.1% over the last year alone. 60% of all homes are selling over asking prices. The Denver Real Estate Market came in strong and fast in 2022. That fact, coupled with Russia's global actions is going to have an impact on our housing market more than just the liquidity we see circulating. It will continue to put upward pressure on a rising inflationary market, increasing the cost of everything. 2022 housing buzz words will include terms like global impact, market velocity, inventory shortage, shifting interest rates, insatiable buyer demand, rising inflation, and affordability. So, what are mortgage rates doing and where do we go from here?
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Mar 3, 2022
Will Russia Affect Interest Rates?
We are blessed to have the problems that we have and the problems that I'm dealing with the last couple weeks and the debilitating back pain. It just makes me start thinking about how minor that is compared to everything else that's happening. I'm gonna think about this in terms of housing because that's the world I live in and what impact this has on our interest rates.
Right now, we're watching the 10 year bond, which was up over two. Remember in our 30 year fixed rate, went over four. Now it's starting to come back down. It had come down to just below two. It was at 1.97. Uh, Russia started to invade Ukraine, uh, and there was this fear of higher inflation. So it was this tug of war of whether or not the 10 year was gonna benefit from that of this flight to a safety as people move their money away from stocks and into bonds, or if we were going to continue to go up with this risk, uh, and threat of inflation, which was pushing rates up to who's gonna win well today, today risk wins…
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Feb 25, 2022
5 Mistakes to Avoid Before Closing on Your Home
Run through this list of five things you can do to avoid delaying closing, or botching up the entire deal.
1. Changing jobs.
Sometimes you don't think about it. You're like, but I took a job that has better pay or better opportunity. Well changing jobs and pay, changing your pay structure could disqualify you for that loan. So if you go going to do it, which you can, but if you're going to do it, make sure that you talk to your lender, give them all the specifics for your new job and have them run the scenarios to make sure that that job still qualifies you for this purchase.
2. Paying your bills on time.
Nobody wants to or sets out to paying bills late, but this time is critical. So a lender will have pulled your credit prior to you going under contract. We're gonna have to pull your credit again, three to eight days before closing, if you have a jumbo or conventional loan, we don't have to do that for FHA a and VA. But if I have to pull your credit again, and now I see a judgment…
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Feb 23, 2022
Real Estate Appraisal Hacks to Get Under Contract
Don't get outbid or underfunded due to appraisals. You might bid $20,000, $30,000, $50,000 or even $100,000 over the asking price, and it may seem obscene to you. But, if I pay $100,000 over asking, and overvalue, how long will it take to make that value back? You'll still make it back and quickly. Denver Metro appreciate lately at double digits during the past couple of years. Will you purchase this and is this the height or is this a bubble?
We have a strong economy underneath to help ensure you will make back that additional money you spent to secure the home of your dreams. Prices of homes will not come down. Builders can't build their way out of this because of supply chain issues.
The largest group of home buyers is 30. We have the next 2 to 3 years of supply issues to contend with. So you may be asking, "How do I get in? What are some of the hacks I can use?"
Let's talk about appraisals.
Desktop Appraisals:
It had been that you could request a desktop appraisal if you know…
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Feb 18, 2022
Why Are Interest Rates Rising and Affecting Affordability?
In this episode, we talk about how volatile interest rates are and what you can do to avoid the heartbreak of not qualifying for the home of your dreams. 80% of Americans 75% of their net wealth is in their singular home. What about the number of people in the 80% that don't have a home? They just lost 75% of their opportunity to build their net wealth. They are relying on their 401K, basic savings.
What if the jump in interest rates put you at the 50% balance to debt ratio. Your options thinned out quickly. You are now high risk, with less available for a percentage down, so the interest rates are higher. You need to be strategic and bring all the options out to explore them so you can get the house of your dreams.
The situation with Russia and Ukraine is affecting the markets and the interest rates. You need to have current information and not rely on an older lender letter. You will be heartbroken when you no longer qualify for the home you are searching for. Make sure your intere…
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Feb 15, 2022
When Does It Make Sense to Buy Down The Interest Rate?
Sure you can buy your rate down, but does that actually benefit you the most? What about eliminating some debt on something with a high rate of interest or a high balance? What about mortgage insurance? Do you need it or can you buy your way out of that with the money you would have used to buy your points down? There are so many factors to consider and no one right answer. PLEASE listen to this episode to have a better list of options before you make that decision.
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Feb 12, 2022
With a HECM You Won’t Ever Make a Mortgage Payment Again
Creating or finding a home to age in place can be difficult. You may feel you don't have options to move. You could pull equity out of your home, but you still need that age-appropriate home. Enter the Home Equity Conversion Mortgage for Purchase (HECM).
Let's say you are living in a home with a $750,000 value. Your mortgage balance is around $150,000. That leaves you with $600,000 of equity, minus closing fees and costs nets you around $550,000 profit upon sale. It can be tough to find an age-appropriate home for $550,000 today.
Nicole's guest, Gabe Bodner, Reverse Mortgage Specialist at The Rueth Team Fairway Mortgage, gives an example of how this works.
BUT, if you take the $550K, find a home for $650K to buy. You are able to put 50% as a down payment - that's $325,000. If you walked away from your previous home with $550,000, that's a boatload of cash AND a new age-appropriate home And, there is no required mortgage payment with the HECM. When the loan comes due, the home is so…
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Feb 4, 2022
DMAR Feb 2022 - Will Mortgage Rates Break 4% in 2022?
Interest rates have been on a downward trend since 1981 when the 30-year fixed rate hit 18.5%. Just three years ago they were almost 5%. Now, news cycles are headlining rates jumping from 2.625 to 3.25% in 2021 and climbing from 3.25 to 3.5% in 2022.
If you bought your first home in the 80’s, 90’s, or even 2000’s, you're laughing out loud when the words “jumped” and “climbing” are used with rates in the low 3’s.
The low rates in 2020 and 2021 both propelled and offset the insanity which was extreme housing demand with a limited supply. I don’t have to remind you of what happened, but it does beg the question…
Where do we go from here?
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Feb 2, 2022
Lending: Reverse Mortgage Style
Agents, do you want more listings? Who do you know who is retired, nearing retirement, in an age-inappropriate home, and has equity which gives them options? Our Retirement Mortgage Specialist, Gabe Bodner joins me today and we are discussing how you can help your clients take advantage of a Reverse Mortgage, and get you more listings, especially in the crazy low inventory Denver market!
Feel free to reach out to Gabe and his team directly at: gabe@bodnerteam.com or 720-600-4870
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Jan 29, 2022
When should you back out of a deal?
Back out now? Or stay in the game? Well, the politician's answer is, "It depends." Every home and buyer situation is different, so this question should be assessed as such. If you or your buyer are unsure about anything in the inspection report, are unsure of any conditions, or feel it's just not the right move, have an "A-Team" on standby to answer questions and assess situations on a case by case basis. Get some quick tips to determine the best course of action in this episode of the Double Comma Club, "When should you back out of a deal?"
In this episode you'll also get a taste of Nicole's dream in an unlimited future ala Kenny Rogers.
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Jan 26, 2022
Give Your Buyers an Edge in a Competitive Market
This episode is for agents AND sellers. With inventory so tight, we have to be on point with our lending solutions because BUYERS NEED AN EDGE. Here's what that looks like appraisal gap insurance, appraisal waivers, earnest money guarantees, and loan objection waivers. PLUS all the creative loans to match the opportunity.
What is a TBD underwrite? This is where you disclose the loan, gather all income and asset documentation, we completely underwrite that file for a particular TBD purchase price, with estimated insurance, taxes and amount down, qualify to verify income and assets, then all you need is the property. That can give you the ability to waive the loan objection. Would this help you the buyer gain an edge? You bet it will!
Nicole and her team are specialists in this to help your buyers, agents. Buyers, ask your agent to get help with this. There are more tips in this episode that will help you purchase the property you have found. This will tell people you are good as cash…
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Jan 19, 2022
The Advantages to Renting
Some people are better off renting. You'll have to decide where you are today. You can go back and forth from owner to renter and back again. Please consider these big points.
Homeownership advantages:
* Building equity/wealth
* Adding to your credit profile
* Stability - especially with children in school districts
* Possible tax advantages
* Ability to upgrade to add-on, remodel - make it your own.
Disadvantages to buying:
* Costs more upfront
* You have to pay for the maintenance
* Apply and get approved for a loan
* You can lose money
Renting Advantages
* The epitome of flexibility and freedom
* Less up front costs, other than security and first and last.
* No responsibility for maintenance even thou
* No ancillary fees such as higher insurance and taxes.
Negatives to renting:
* Not building equity
* You'll possibly have to move several times that are not in your control
* No long-term tax advantages
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Jan 6, 2022
She Started a Business with the Equity in Her Homes
This story of using real estate to fund a dream makes me smile each time I think about it. I'm joined by my friend Olivia Kuynevicius, an agent with MilehiModern. It demonstrates the power of real estate and the opportunities owning a home creates. On this episode of Financing The American Dream, I and my dear friend Olivia spotlighted her client Cynthia, who just opened a coffee shop in Denver, Colorado... using the Equity in her Homes! Owning real estate quite literally opens so many doors toward financial well-being, you just have to see it for yourself! Join us for this episode spotlighting Cynthia Diaz, Owner, Tonantzin Casa de Café in Denver.
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Jan 5, 2022
Increasing Your Dollar Per Hour #TNBTCO
Do you know what your dollar per hour is? How do you value yourself and your time? Do you have a fear of delegation? These are just a few of the key points that this incredible panel will be speaking on at THE NEXT BIG THING. With how quickly our market moves, it's crucial to learn time (and money) saving tactics to increase your dollar per hour. LEARN MORE & PURCHASE TICKETS at: www.thenextbigthingcolorado.com
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Dec 29, 2021
Leveraging Real Estate to Build Your Investment Empire
Say hello to Jay Clark, Nicole's personal financial advisor! Jay has been her advisor for some time now and specializes in portfolio management that includes real estate investments. He's a rare breed of financial advisors that is able to weave real estate into the big plan for building your financial empire. You'll want to hear this taken from an Agent Ignite panel discussion in October 2021.
About Jay:
Jay Clark, Founder of Lucet Advisors has been helping business owners and individuals since 2002. Certified Exit Planner (CExP™) and Financial Advisor. He focuses his practice on business owners, healthcare professionals, and pre-retirees. Not a Denver native, but grateful to call it home since 2000. Proud father of 3 boys, active outdoor lifestyle.
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Dec 22, 2021
What is a lender letter and why do you need it?
When you want to start looking to purchase a home, one of the very first things that you're going to want to do is get a lender letter, and that realtor that you're shopping with is going to ask, have you talked to a lender yet? Do you have a lender letter? And you're, what's a lender letter? Well, that's what I want to talk to you about today. What is a lender letter and is that all it is?
No, there're several levels to lender letters. So let's talk about it. The very first out of the gate, a lender letter simply states your information as well as the qualification for your loan. So it's going to say something like John Doe, with all of your address and your information, is qualified to purchase a home for the purchase price of $400,000, with a down payment of 10%, using a conventional loan. That would imply that when your numbers were run and your financials were reviewed, you qualified for a $360,000 loan.
Now, at that point, you can put any amount down based on the loan program c…
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Dec 14, 2021
Loan Documents Explained
All those loan documents you're receiving can seem super overwhelming! So, here's some insider knowledge to elaborate on what the documents are, and simplify what they all mean! You need to know these things - it's not complicated.
* How much do I need to spend per month?
* How much do I need to bring to the closing table?
* A fee worksheet is a very first thing you will get from a lender or potential lender. Go through it line by line to really understand and get comfortable.
The fee worksheet is not regulated - depending on the lender, you'll want to ask a lot of questions.
Then you move on to a loan estimate which IS regulated. The fees can only go down, they cannot go up. Nothing the lender controls can change, except in your favor.
Get all the details in this episode. Subscribe to Nicole's Youtube channel to get all the guides through every step in the process of buying, selling and refinancing your home.
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Dec 1, 2021
Plan your estate so you aren‘t the juicy bar story some attorney tells
Chris Gordon loves what he does. He especially loves it when he has no juicy stories to bring home other than, "I worked with a bunch of nice people today that wanted to get their ducks in a row, so we set that up." He wishes younger people would set up their estates to have peace of mind, not just for themselves, but for those who will either care for them in the situation of an illness or accident, or those they leave behind. He has some great tips to add some humor to what can be an uncomfortable part of growing up. Even couples married for decades put this off and then there is no easy way to make transfers and act on behalf of the loved on or children if these pieces aren't in place. You'll gain a lot of comfort and information from this episode of The Double Comma Club.
Learn more about the services Chris Gordon offers at Stewart + Gordon.
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Nov 24, 2021
Short Term Rentals Made Logical and Lucrative
We hear about owning short-term rentals. Many of us take advantage as we have started traveling again. Gone are the days when you could grab some random property in a decent area, furnish it with Goodwill furnishings, and make a profit after covering your mortgage. Listen as Nicole's guest Michael Vialpando makes it simple to understand how to do this, and enjoy the process.
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Nov 17, 2021
What it Takes to Purchase a Home
What are the costs beyond the cost of the home you select? After you make an earnest money deposit, here are some of the costs and fees you can expect:
Inspection $450-600 Well, septic, sewer, radon may have additional fees.
Schedule the appraisal. $750 fee.
Title company $1000 - $1200 which includes lender fees - processing and underwriting fee. All lenders have a fee. They may bend on it, depending on your interest rate. They are doing a service and need to be paid.
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Setting up escrow - pay the full first year of insurance upfront. This can be rolled into the loan
* 2-3 months of escrowing that insurance payment.
* 2-3 months of your property taxes - which is an annual bill. A couple of months of buffer.
* This could be anywhere from $7000 - $10,000 or more for those million dollars plus homes. Depends on the homeowner's insurance.
There are no more hidden fees - they all need to be upfront. They cannot go up, only down. Sometimes the seller pays for closing…
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Nov 10, 2021
The Next Big Thing - Rueth, Kruger, Soto, Alba, Veden January 20 - 21 2022
I'm SO excited! The Next Big Thing is approaching and I can't wait. I will of course be there sharpening my own saw, but I will also be SPEAKING. I'll be giving the latest updates in Lending, and what to expect down the road. I hope you're as excited as I am; The Next Big Thing is coming, and we hope to see you there.
We are thrilled to have Katie and her expert panel speaking about Commercial real estate trends, and how that affects the Residential Real Estate Landscape. Katie is the CEO of the Denver Metro Commercial Association of Realtors, which represents 2,000 commercial real estate professionals across Colorado!
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It really is good to give, and we are thrilled to have Javier Alberto Soto, President and CEO of The Denver Foundation speaking at The Next Big Thing. Javier will be discussing how to integrate philanthropy into your business model, and the advantages of doing so.
Let's welcome Ann Alba and Stacey Veden, customer experience and service specialists from T…
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Nov 3, 2021
DMAR Nov 2021 - The Market Is Slowing. So Why Are You Exhausted?
Comparatives are funny because they can tell any story you want. The market is slowing down? The market is still nuts! The idea real estate is hyper-local is at its epitome in times like these. Nicole dives into the Denver Metro local numbers and a bit about the economy but let's start with a story because perspective is everything. "One of our clients this past weekend put in an offer and the listing agent and friend, Maura Putnik, called me and shared the seller side experience.
Her $890,000 listing had 80 showings, 18 potential offers Six of those retreated when they heard where the price was headed, 12 written offers of which a few improved their offer, to have that one get the deal. In addition, four agents offered to submit a backup."
----more---- If that’s slowing down, now I know why we are all exhausted.
DMAR’s November Market Trends Report shows buyers deciding to fight the good fight regardless of rates going up. Active listings dropped back to 3,376, partially due to…
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Oct 22, 2021
Maximizing Your Investment Properties - the Bedroom to Bathroom to Square Footage Ratio
Do you currently own investment properties? OR Are you looking to begin your investment journey, but are hesitant due to low inventory? Well, we are here to tell you that deals ARE happening, and you CAN add exponential value to your real estate investment (or future investment). Jacob Mueller of Atlas Real Estate starts by explaining the differences and benefits of both ADUs and AFSs, as well as the rules, the effect on taxes, and more. But he mainly talks about maximizing your investment property with a simple math problem of the ratio of bedrooms and baths to square footage. We all are paying more for every piece of real estate. Get the most out of it now and in the future when you sell it. We know the level of commitment & financial assets needed to invest in real estate, so it's okay that the process comes with a bit of hesitation. But, there are plenty of options available for you to start with one or modify your current strategy that will add value to your property.
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Oct 20, 2021
The Next Big Thing - A Real Estate Experience January 20 - 21 2022
The Next Big Thing is shaking up how Real Estate professionals will define business success. This two-day event will be far from typical. While our past may have shaped us, it is time to define the future. This energy-rich, content-driven event will introduce the biggest drivers shaping the industry, and instill how to harness the next big thing to catapult your own business.
Built on the foundation of helping others build wealth through real estate, The Rueth Team has created the ultimate tool that is The Next Big Thing. Over the course of two days, you will hear from industry leaders and pioneers who have paved the way and achieved the highest levels of success. They are leaders who inspire, and businessmen and women who are challeging the 'norm.' You'll discuss how the world is changing and what’s needed to stay two steps ahead. Together with four hundred and fifty other professionals, you will build a foundation to become the Next Big Thing.
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Speaker Numbers 1 and…
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Oct 13, 2021
How to Buy and Sell Your Home at the Same Time
We know just how stressful deciding to purchase a home can be, especially when you're already a homeowner! It can be nerve-wracking to think about purchasing a new home when you have hundreds of thousands of dollars already in your current asset...
BUT, THE FEAR STOPS HERE!
When it comes to buying and selling at the same time, or even purchasing before you sell, it is all about strategy and diving into the details. Sellers are in a very strong position in our market right now, so buyers who also have listings on the market have to come up with a strategy to make their offer stand out.
Join Nicole Rueth and Justin Knoll as you are given options to simplify this coordination.
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Oct 1, 2021
The Cost of Waiting in Real Estate
There is a lot of math in this episode, important math. Listen while Nicole walks you through the cost of waiting to purchase a home, especially if you are currently paying rent. The last 18 months of everyone's lives have been exhausting. But putting off purchasing a home shouldn't be one of the things falling to the wayside. If you've been on the fence, now is the best time to buy. Why? It's not just because interest rates are low, it's because of the two-fold effect of appreciation and principal reduction. No matter how good of a deal you have on rent, you're not getting the best bang for your buck or making the most of the roof over your head. In fact, you'll lose out on quite a lot by waiting. But just how much...?
Learn more about building wealth through real estate on Nicole's YT Playlist:
https://www.youtube.com/playlist?list=PLDnB7ZSa5nonyH6H8F9-RAS6AtdlOMo7Q
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Sep 24, 2021
How can you capitalize on Real Estate to Help Pay for College
Use Real Estate to Pay For College! First-time homebuyer and investment property purchase.
* How can I use equity to pay for college?
* When should I start investing?
Nicole's personal experience. She had three in college at the same time - one graduated, two are still in. At 20, Nicole's two boys were able to purchase their first homes. They bought income property where they could live, and then become the landlords and rent out the other rooms in their homes to not only pay the mortgage but to help with cash flow.
Each home cost $400,000 with a 3% down as first-time homebuyer or could be done using downpayment assistance.
If you put less down, you'd still cover the mortgage with the income, but maybe not as much pocket money.
You can use your own home equity to purchase investment properties do follow this same model and cover room and board, and increase your real estate portfolio. Consider this option instead of a 529 plan. That home you purchase for your child when they a…
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Sep 17, 2021
What You Need to Know About Debt to Income Ratio
What is debt to income ratio? Which is different than what is my monthly budget. All right? Because I really want to just land there just for a second. Because it's super important that when you're going out looking for a home, you've identified what is that monthly number, that monthly payment that fits with the rest of your lifestyle? Because it's really easy to fall in love with a house that's higher than your budget. I mean, the higher you go, the prettier they get. Right? But that might not work with the fact that you want to start a family. You want to buy a car. You want to go on vacations. Maybe you want to build up investments to secure your financial freedom and retirement. All of those things should be talked about, discussed with your lender. Bringing in all the other things about your life to ensure that you pick the house payment that allows you to have a life, not just live in a home. Lisren to this episode to get the full story and why you need to know its affect on you…
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Aug 28, 2021
5 Important Things You Need To Know About Your Personal Credit Score
Do you know what goes into a credit score? We're going to be going through a five-part series to share with you what you need to know.
What makes a credit score?
Let's start off with the five factors that can ultimately affect your score: payment history amounts owed, length of history, credit mix, and credit inquiries for new credit. The first three go hand in hand. Your payment history will appear in your credit report for all of your open and active trade lines. Payment history demonstrates how you were able to manage your debt over a period of time. Paying your bills on time consistently yields a higher credit score, and in turn, allows you to borrow more money.
Additionally, the longer your history of consistency exists, the higher your score will be. I mean, this is important, because while you're shopping for a home, do not close any accounts as that cuts your history short. Also, keep your balances low, ideally below 30% of the credit limits and make sure above all else, k…
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Aug 27, 2021
First Time Home Buyer, who do you talk to first, your lender or your realtor?
Purchasing your first home is a major accomplishment .. it’s also stressful, daunting, and overwhelming! Knowing exactly where to start the journey to homeownership will allow you to optimize the most of your available time, money, and energy. So first steps first... do you talk to a real estate agent or lender first?
If you are a first-time homebuyer, you may not even have those names to fill in the blanks. The best practice is to start with people you trust. Who in your life do you know who is a realtor, a lender, or maybe someone who just purchased a home and had a great experience? These initial contacts might not be where you land, but picking their brain on why they liked working with their team can give you a good direction to start from.
As a lender, I want to say everyone should first dial in their credit availability, payment budget, and optimal purchase price before looking at homes. But sometimes people get excited... I get it. Looking at homes is a lot sexier than talk…
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Aug 24, 2021
Biden Harris Proposed Tax Laws Effect on Consumers from Tracey Wilson
The table below is taken from Tracey Wilson's presentation at the Agent Ignite session. These are derived from his research. If you have questions, please visit his website. This is the BIG RED button he talks about in this presentation.
Here is the PowerPoint from this presentation.
Here are a few points covered:
1)American Rescue Plan: $1.9 trillion for COVID Stimulus Package
* Passed even though $800 billion of the previously passed $2.2 trillion CARES Act (passed 3/20/20) had not been spent yet
2)American Jobs Plan: $2.3 trillion for infrastructure
* Raise the corporate tax rate to 28%
* Increase the global minimum tax paid to 15%
* Impose a corporate minimum tax on book income
* Eliminate tax benefits for the oil and gas fossil fuels sector
* Increase corporate tax enforcement
3)American Family Plan: $1.8 trillion for universal pre-K, free community college, SLD $50K forgiveness, paid family leave
* Raise individual income taxes
* Raise cap gains tax rate…
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Aug 20, 2021
Where did all the under $500K homes go?
The July DMAR Market Trends data was released this week, and there are two notable trends. First, when comparing 2021 to pre-covid 2019, our seasonality is falling back into normal ranges. We have a healthy influx of listings which were up 8 percent, 2 percent more homes went under contract, and there were 7.5 percent more closings when compared to 2019, yet we continue to see three times the price growth. If I return to our current month-over-month or year-over-year and stop there, we are bleeding red.
But the real story is in the green. Green month-over-month active listings are eluding to hope that more balance is on its way, yet green double-digit annual closed prices say that balance may not arrive too quickly. The second trend that stuck out is that year-to-date, homes priced over $500,000 are flying off the shelves compared to 2020 and 2019, with more homes at higher prices coming on the market, going under contract, and closing. Year to date 54 percent of all homes sold in the…
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Aug 12, 2021
What you need to know about 1031 exchanges
Nicole welcomes Tracey Wilson of Investment Property Exchange Services. You can find him at ipx1031.com. Ipx1031 has provided its clients with superior qualified intermediary services for three decades. And each year they assist thousands of clients and their tax and legal advisors by providing proven exchange solutions that best achieve the client's goals of enhancing their business portfolios and preserving equity. But he'll tell you more about that at the beginning of this episode. This is a two-part episode. There is so much to learn. This first one covers the basics you need to know as an agent and as an investor, about a 1031 exchange to avoid capital gains taxes. He will give you guidance, no matter how creative you think you are, he will have solutions and some recommendations to keep you out of hot water with the IRS. Listen to this episode now.
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6 Rules of a 1031 Exchange:
1. Held for investment Owned and treats as investment for usually 1 year and 1 day. 2. 45…
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Aug 6, 2021
Creating Cash Flow in Rental Properties
Real estate investments are my favorite topic to talk about, but also my favorite type of loan to help a client with why because in an area where loan officer gets to be creative, often purchasing investment isn't cut and dry. It requires strategy and planning. If you've ever joined me from my building investment empire class in the second Thursday of each month.
And you know, I advocate purchasing a home as a primary, living in it for a year and then doing it all over again. Why? Because when you purchase a home as a primary, you can put as little as 3 to 5% down and that frees up cash when you compare it to purchasing it as investment property, which requires 15 to 25% down.
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But of course, the follow up to the strategy that I get asked most is how do I make that purchase?
Cash flow because the less you put down, the larger the monthly mortgage payment is, and so that's a fair question to which unfortunately has no straightforward answer.
I mean a lot of times this c…
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Jul 30, 2021
15 Year Mortgage Rates are at a Historic Low
Welcome to another episode of the Double Coma Club with your host Nicole Ruth of the Ruth team. The number one lending team in Colorado.
I want to share with you that we just hit another historic low in interest rates.
Really, that's what I'm thinking right now as I'm processing what just happened to the 15-year fixed. Now if you remember, we hit the historic lows 17 times last year into this year on the 30-year fixed. Now the 30-year fixed didn't hit and hold time historic low.
But the 15-year did in fact. It's lower than it was during that entire period of time. It just hit per Freddie Mac, 2.12%. Now Freddie Mac does typically have a point 8% discount on many of its loans as it does a national survey. So 2.12 is the national survey with .8 in discount. So what's point?
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8 So if I have a $300,000 loan, 1% discount is $3000. If I have a 8.5% discount, that would be $1500, so it's a percentage of the loan. So in this case 2.12. If I pay 1.1 full point in our case of $3…
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Jul 30, 2021
4 cents is double 2 cents; but we are still way short of a dollar.
Buyers and sellers are exhausted by the extremes. Nationwide, new listings are up a strong 5.5% year over year and an even more impressive 11% from last month.
In the Denver Metro, our new listings were up 6% from last year, and 24% from May. This added 7,826 homes to the Denver market last month, lifting our 2,000 active listings to a less than healthy, but certainly welcome 3,122 at the end of June. That's a 50% lift in one month, although it's still shy of a healthy market.
The average active listings for June is 16,098. Days on market is still 4 for both detached and attached. Mortgage purchase applications dropped to a 5 month low. Pending home sales slowed down to a 2% gain from last month's 17% month-over-month increase.
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Get more information in this episode of The Double Comma Club.
It's hard to tell a buyer that now is the best time to buy when home prices continue to break records landing in June with a median closed price of $545,000, which was 1.5% higher t…
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Jul 23, 2021
Refi’s Just Got Better | Purchase VS Refinance
There are certain times in life where change is the best thing that could have ever happened. Sandra Thompson replacing Mark Calabria is one I will celebrate for a long while.
Why? Well, Sandra Thompson gave us all a gift this past week by undoing the FHFA Adverse Market Fee. This is a huge win for everyone trying to capitalize on the equity they have built up in their homes. Mark Calabria initiated the Adverse Market Fee in August 2020 stating that there was "additional cost and risk" to FHFA with homeowners taking equity out of their homes. What he was really doing was increasing capital levels during last year's historic refinance boom.
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Removing the fee will reduce interest rates, on average, by approximately 1/8th. This means more money will be put back in the hands of the homeowner instead of the FHFA. It will also continue to strengthen the options for homeowners coming out of forbearance. Given today's low interest rates. if you have not refinanced yet; Christmas…
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Jul 19, 2021
The Top Simple Tip to Become a Real Estate Investor.
Spoiler alert: Your real estate agent will not like this tip - not at all. This is only 4 minutes. Take notes. We don't want t spoil the math or the surprise.
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Jul 9, 2021
Saving for Buying Real Estate in Your 20s.
How do you start in your 20's investing in real estate? You start with the first one. It's the toughest. Let's think of money in terms of buckets. Your checking account feeds
* short term expenses
* Long term savings
* outside investments
* retirement
Consider setting up automatic transfers.
1 month of expenses, then the remainder rainy day fund, build this account up first. 50% monthly needs housing food - your short-term expenses for living and entertainment. 30% rainy day 20% retirement investment bucket.
To invest in real estate, consider saving $125/month. By the time you graduate college, you can afford to buy a home. People who invest in real estate are 48x's wealthier than those who rent.
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Jul 7, 2021
How to Get Started in Real Estate Investing Part 1
This episode lumps together 4 episodes from the Real Estate Investing playlist on our YouTube channel. Catch these first four short episodes to get started, first with the logic and then to show how even with a modest income you can still build your retirement through real estate.
This 17-minute episode includes:
* Good Buy, or Goodbye?
* Creative Investing
* Long Term Investments - Fact vs. Fiction
* Turning Rental Income into Retirement Income.
Be sure to catch part two publishing next week.
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Nicole Rueth The Rueth Team of Fairway Independent Mortgage Corporation 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com
Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth Linkedin: https://www.linkedin.com/company/the-... YouTube Channel: https://www.youtube.com/channel/UCPMd...
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Jul 6, 2021
$33,472 Isn't Enough for Retirement
Have you doubled your retirement fund this year? No one wants to get to retirement and realize they will run out of money before years. Or if they were honest, they may only have enough saved for a long vacation or small car, but not enough to be secure and continue to live their life as they want. In fact, the median American has only $33,472 saved for retirement. THAT ISN'T ENOUGH Did you know that the average homeowner in America gained $35,000 in appreciation during the last year? Add that to their retirement account and they just doubled their retirement savings. THAT'S the POWER of Real Estate.
Join me every Tuesday at 8 am MT on Facebook and Instagram as I go LIVE to discuss opportunities like this. Money may not buy you happiness but it can create opportunities to create a life you love.
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Jul 2, 2021
Fact vs. Fiction: New Builds
Let's go through some of the facts and fiction of purchasing a brand new home. Let's start out with one that tends to be the main selling point for new builds. You can customize your home and the basic options included and/or upgrade options available. There's no need to pay a contractor after you've closed to redo that pink tile in the bathroom because you participated in the finishes for your home. Because you get to help in the design, new builds tend to feel much more like home right off the bat. So who doesn't want that?
This also means that your home is equipped with the monitored amenities so there's no upgrading needed once you move in, nor do you need to do that deep clean since you're the first homeowner. Another fact is that new builds in today's market can be easier to secure. Once you pick a builder and if they have a home available, you can secure it without competing against multiple buyers or over asking bids. Although finding a builder with a lot available in today's…
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Jun 22, 2021
False Summit or False Peak? DMAR June 2021
The second half of May seemed to open up a bit. But, sorry, it was a false peak. Less inventory came on the market and more buyers went out looking for it. Inventory was down 6% from last month, and down 14% from last year inventory.
6718 homes went under contract, which was up 17% last month, and up 3% from last year. Active listings dropped last month. In fact, there was a 20% drop and inventory fell below 2000 homes for sale the second time this year. Listings are spending and average of four days on market.
You have to be ready to pounce, offer 30K over asking, without any contingences and ready to close in 2 weeks.
26% higher close - higher end homes. 23% higher close -medium priced homes. $700,000 average closed price detached.
We are nowhere near the peak. Same with rates. Rates turned up mid-month. Inflation jumped 4.2% - the highest in 13 years. Core inflation jumped to 3%. This was the highest monthly gain - EVER. Get the rest of the insights by listening to this 9 minute…
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Jun 17, 2021
8 Steps to Self-Leadership with Ryan Leak
Author, Speaker, Coach Ryan Leak is back! His book, Chasing Failure has been published. 8 steps to learn self-leadership starting now!
We laughed pretty hard and learned so much! Here are the questions covered:
1. What's it like to be around me? 2. Do you know where you want to go? - What's one word you'd use to describe you? - What's one word others would use to describe you? - What's one word you'd like others to use to describe you? 3. What credit can I give away? 4. What mistakes can I own? 5. How can I get better? 6. When can I make time to invest in myself. 7. Whom am I investing in for the future? 8. Who knows who I really am?
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Jun 16, 2021
The Lowest Rate Doesn't Mean Your Lender is Serving You Best
Nicole gives you three examples as to what a creative lender can do for you. Creative is another word for experienced here. When you simply go with the lowest rate without any other thought to the best financial plan for your longer goal, you are selling yourself short and most likely costing you and your family a lot of money.
Tune in to hear these quick examples.
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Jun 1, 2021
Fact vs. Fiction - Reverse Mortgages
Gabe Bodner, Reverse Mortgage specialist at The Rueth Team joins Nicole for this episode.
#1 myth: you give up the title of your house with Reverse Mortgage. Bank or lender takes over the house.
FACT: You still own the house.
#2 myth: you can no longer pass the house to your heirs.
FACT: your heirs can inherit the home, pay off the reverse mortgage and inherit the additional equity above the reverse mortgage.
#3 myth: You're losing equity
FACT: Not losing but USING some of your equity. Interest is added back to the loan through negative amortization. This does eat away at some of the equity, but based on interest rates on traditional loans, and growth and appreciation, you gain more equity than you are using and saving money on the loan if you need it.
#4 myth: You have to own your home free and clear
FACT: The existing mortgage balance can be absorbed or paid off.
This should be a loan of last resort. You have a better probability of financial success by utilizing a reverse m…
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May 21, 2021
Inflation Explained to Understand Why It Changes
Headlines regularly push the topic of inflation. We usually know it's bad if it goes up, but why? What causes the change, and what industries are affected by it that will affect my life? These are questions answered in this episode.
So what is inflation? We know it can occur in any product or service including need base expenses and want base expenses. We also know that the Federal Reserve Bank monitors the inflation rates.
The Consumer Price Index (CPI) measures what you and I feel at the grocery store, medical care, etc. Inflation rates have moved from 2.5 to 4.16 which is the largest increase since 2008. Food costs are rising twice as fast as pre-COVID. Retail sales are running out of steam after stimulus monies have been spent and sticker shock is settling in. This also pushes interest rates up.
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Could we see them drop slightly in Fall, possibly? Depends on wage inflation and the price of raw materials.
A more formal definition of inflation is that inflation is the…
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May 19, 2021
Earnest Money Guarantee is Your Secret Weapon Against All Cash Offers
Being competitive isn't strategic, it's a must. Competitive offer tactics can include:
* appraisal gap insurance
* short closing timelines
* waiving inspection items
* strong loan approval
Here are some loan approval options to make your offer stand out.
* Prequalification is the very first and most common step with online and box lenders. This is the bare minimum.
* Pre-approval submitting the loan documentation to the lender.
* A pre-approval letter gives the listing agent and seller confidence that what you say you make is what you make, and what you say you have is true.
* 10 Day Close Earnest money guarantee loan approval through the Rueth Team. You can keep shopping, but once approved and no changes to your status, the Rueth Team will guarantee your earnest money.
Sellers want the best experience selling so they can turn around and buy their next home.
Tune in to this short and helpful episode. Learn more about this offer Nicole covers here >
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May 18, 2021
DMAR May 2021 Taper Tantrums and Equity Cushions
While the economy roars back to life, real estate continues to be judged. DMAR tells us that 2594 for sale - a lower than low figure. The previous low was 2015 with around 2400. Listen in for this recap.
* The months of inventory is currently .51 months for detached homes, and detached inventory is currently at .46 months.
* Detached homes' median price is $585,000 in 11 counties, whereas attached are at a $376,660 median in 11 counties.
* With a substantial equity cushion, the Denver Metro area has been able to avoid the dreaded and predicted bubble.
* 2.5% of area homeowners have less than 10% equity, and 1.5% in the same region have negative equity.
* Builders have customers, but because lumber prices up 25%, steel up 160%, sheet goods up 400%, this has put a crimp in their ability to build homes ahead of inventory demands.
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May 6, 2021
How to Build Your Top 25 Brand Advocates
We continue the Agent Ignite session with Dr. Bruce Lund as he helps us master the four-hour workday. Some of what he covers in this session includes knowing the difference between a promoter and an advocate. Understanding the levels of relationships in business: Connectors, climbers, somedays, aspirational, and experts. He has some actionable homework for you too. Get excited! Listen now.
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Apr 30, 2021
The First 90 Minutes of Your Four Hour Workday - Mind, Body, Heart and 30 for the Spirit
Have you ever heard of the concept, "Eat the frog"? Eat the frog is basically, do the one thing that you really don't want to do first thing in the morning. So for a lot of us that is working out, and so I'm just a big believer. Here is a time system that works for success. Nicole's guest is Dr. Bruce Lund. He's here to get us started on the successful method of a four-hour work day by starting from the moment your feet hit the floor - the first 90 minutes, then going into the next 30 minutes.
Some of the point covered are:
Physical activity of some type, then move into the walk and talks later in the day after a light lunch.
Stimulating the mind by feeding it helpful information from people and resources you admire and trust, market stats you can share that will show you are of value to your followers and clients, inspirational tips, mediations.
Rely on people of influence rather than people of interest to inspire you. Get the ego out of it.
Practicing gratitude for at least 10 m…
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Apr 28, 2021
Strained Denver Housing Inventory, Understanding Headlines, and Cryptocurrency
Here's the quote that impacted me today. Courage doesn't always roar. Sometimes courage is the quiet voice at the end of the day saying, "I will try again tomorrow." I'm going to get up and I'm going to try again tomorrow. I loved this quote because some days you just feel so beaten down, but I actually love this quote right now from the perspective of the first-time homebuyer. It just really struck out at me because I know we've been working through trying to get those first-time homebuyers under contract. Especially the first-time homebuyers who are FHA or down payment assistance or minimum down, or don't have the money to do the appraisal gaps or put in over asking.
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Let's talk about what's being said in the news because of what is going on specifically in the market, the economy is getting stronger, inflation just came out higher. We expected that. Interest rates took a little dip.
My 23-year-old son was talking to one of his best friends who was trying to nudge him…
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Apr 22, 2021
Fact vs. Fiction - Housing Bubble - Colorado
This is the one topic that has not only generated more calls to our office but to our agent clients, a crazy number of internet searches. People want to know - is the housing bubble about to hit? Let Nicole tell you how it is in Colorado.
Fiction: an imminent collapse is coming.
Fiction: forbearance will lead to foreclosures, especially in Colorado.
Fact: Equity gain is our saving grace.
Fact: What's happening is leaps and bounds different than 2008.
Listen to this 10-minute episode to get the facts.
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Apr 16, 2021
Fact vs. Fiction - Home Loans
As part of the continuing Fact vs. Fiction series, Nicole talks about the facts and fiction of home loans. Listen to this 7-minute episode, play again until it sticks.
A preview:
Fact 1 - call your lender first
Fiction 1 - assume the best loan for them is with 20% down or minimum down.
Fact 2 - you have the power to affect your monthly payment.
Fiction 2 - renting is not more cost-effective unless you are only looking at the immediate short term.
You want to pay your OWN mortgage, not your landlord's.
Fiction 3 - getting a home loan isn't possible unless everything is lined up or perfect.
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Apr 5, 2021
Fact vs. Fiction: Interest Rates and Long-term Investments
After hitting low historical interest rates 14 times last year, let's set the record straight. The first piece of fiction is that Rate is King. This is not always exactly as it appears. Oh, and the one using your house as a method to save interest rates on credit cards. Be smart. Then we move into the fiction of long-term real estate investments.
A buy and hold strategy provides OPTIONS. But, just as with rates, options also bring misinformation, many times turning people away from a long-term wealth strategy that could open up possibilities for them and their families. Watch as I bust open some very common concerns that are fiction and go through why, even in today's market, real estate is queen.
----more---- Nicole Rueth The Rueth Team of Fairway Independent Mortgage Corporation 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicoler…
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Mar 26, 2021
What is the purpose of a title company in a real estate transaction?
If you have ever been involved in a Real Estate transaction, you've dealt with Title. But what do we need to know about the title process and what should we ask our underwriters? Sima Patel from WFT National Title gives us pointers. Some of what she covers includes advice for those who have gone through bankruptcies or are buying a home from someone who has gone through BK, what you need to know about trusts, LLCs, and quick claim deeds to avoid legal disasters.
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Get to know Sima, in her own words:
People | Trust | Resource Things that bring me joy in life are relationships, learning and helping people. I’m passionate about education and surrounding myself with smart people so that I’m constantly learning and sharing. I utilize my experience and resources to help you make the impact you want to make in the real estate community.
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Mar 19, 2021
Questions to Ask Your Homeowner's Insurance Agent
We all know insurance is important, even though we hope to never use it. Because no one wants to pay $5,000 out of pocket when they could have been paying an extra $2 a month. Enter, the creative insurance agent. Unlike 30-40 years ago, insurance brokers can help you find the best value for money when it comes to your homeowner's policy and covering any investments you may have as well.
I had the chance to sit down with Brandon Ridder of Goosehead Insurance to talk more about the importance of having a clear understanding of your coverage and what is crucial to know as a first-time homeowner and investor.
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Some key points he made included:
* verify water back up coverage
* verify sewer line coverage
* ask about roof depreciation
* what is your deductible - at 1-2% home replacement value can be a big amount
* don't hide short term rental or your claim may get denied
Nicole Rueth The Rueth Team of Fairway Independent Mortgage Corporation 750 W Hampden Avenue, S…
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Mar 5, 2021
Tight Inventory Is Behind Denver Real Estate Market Agony
Let's start with strong demographics. 33% of home buyers today and for the next decade are first time home buyers with nothing to sell, taking from an already stressed market with nothing to give in return. At the other end of the spectrum baby boomers are delaying their downsizing, moving into assisted living nursing homes, or in with family due to their heightened pandemic risk, holding onto those homes younger families need. For new builders NAHB noted lumber continues to spike up with futures up another 35% on top of the already high 170% rise we saw over the last 10 months.
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There was enough inventory to break records in sales. I mean 62,985 homes in DMAR's 11 County area sold in 2020 for another record breaking year. And another 3,641 sold in February, up 13.43% month over month and 3.7% year over year. It's a days on market issue, not solely an inventory one. Homes are coming on and selling faster than you can sell chips at an edibles convention.
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Feb 26, 2021
What Consumers Need to Know About Appraisals
Nicole's guest, Joey Pizzi of JP Appraisal Services wants consumers to know a few things about the appraisal process to help them before the appraiser arrives, and for buyers to understand the current market filled with over-asking-price offers.
* It's different than a home inspection.
This is what is done during an appraisal: measure, take photos, documentation, assess the condition, look for any needed maintenance
* How hard is it to appraise a home?
Need to really be familiar with the market. This includes all of these offers coming up to $100,000 over asking prices. Your appraisers need to know how to read the market and look out for anomalies.
* Things a seller can do before the appraiser arrives.
PAINT: railings, cabinets, holes in the walls.
Cleanliness shouldn't affect the appraisal, but it can be distracting. Declutter, clean up - show that the house is cared for.
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Feb 19, 2021
How to Raise Your Credit Score
There are a lot of things that go into qualifying for a loan. One that remains the same no matter the product, you need to have a good credit score. If you're looking to purchase a home you need to make sure you're set up to get the best financing you can by having the best credit you can. This week I am beyond excited to share one of my hidden secrets, David Emge of Credit Advisor. He's our go-to at The Rueth Team to help our buyers get their credit score where it needs to be to qualify for the home they want. Not only that but David makes sure his clients know how to continue to keep their score up to help them build long-term wealth. And who doesn't want that?
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If you would like to reach out to David his email is demge@creditadvisorinc.com and his website is https://www.creditadvisorinc.com/ T
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Jan 30, 2021
Exploring 80113, 801212, 80103, 80119, 80222 Neighborhoods
Nicole's guest is Jenny Usaj of Usaj Realty. She explores several zip codes in neighbhoods that have seen a wonderful uptick in prices, as well as ongoing opportunity for investment. Jenny also gives agents advice about how to help their clients drill their buyers down to real needs, rather than distractions when they research online. She wraps up with talking about condos, and future income property and her favorite neighborhoods.
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Jan 28, 2021
Top 4 Things to Know Before an Inspection, How to Exit Forbearance
Listen to this 15-minute recap from January's tips: Why an inspector is a must, Top 4 Things to Know Before an Inspection, and Exiting Forbearance.
We've been talking a lot lately about buying your first investment. But what if you're a first-time homebuyer? One of the things that you're going to do right out of the gate when you get under contract is called a home inspector. And if you don't know one, you're probably going to get one from your real estate agent. But what does a home inspector do and why do you need one and why it might be different for inspecting a primary home versus an investment property with a different intention? I brought along Andrew Sams, who I absolutely adore, very well-respected, well-known here in the Denver Metro and up in Evergreen. And he wanted to talk a little bit about what you as a buyer could expect or should expect when you meet with an inspector. He does own Alpine Building Performance, in case you want to look him up. Andrew, what should a buye…
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Jan 8, 2021
Today’s Real Estate Market – I know. I wonder. I’m boggled.
There are things I know, things I wonder about, and things that boggle my mind. Here are a few… I knew demand was about to explode before 2020 began. Demographics told us that. 8.8 to 9.2 million first-time home buyers were coming and they wanted a piece of the American Dream. With the largest age cohort numbering over 23 million, Americans aged 25 to 29 are looking to start families and buy homes. And once someone has a child they are twice as likely to purchase a home.
I knew that a recession was coming, or at least I was pretty certain. America was on a Recession Watch at the end of 2019 and beginning of 2020 tracking slowing manufacturing, shipping, business spending, and job creation as well as declining consumer confidence, talks of trade wars, and political unrest. The two and ten-year yields had also inverted pointing to a longer-term financial instability.
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Housing inventory was low coming into 2020, down 10 percent year over year with active listings a paltry…
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Dec 31, 2020
Ivy Zelman's Insights at the Fairway Economic and Housing Summit
This is only one session from the outstanding series of presentations during the Fairway Economic and Housing Summit on December 17. The full event featured presentations by the following. You can watch the replays on YouTube here:
Barry & Dan Habib Dave Stevens Ivy Zelman Chris Whalen Rob Chrisman Mike Fratantoni Moderated by Nicole Rueth, Sarah Middleton, and Peter Beanland.
Follow along with this presentation from Ivy Zelman. (PDF)
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About Our Featured Presenter:
As CEO of Zelman & Associates, Ivy Zelman leads the preeminent boutique research and investment firm dedicated exclusively to the housing industry. Founded in October 2007, the firm is known as a thought leader across all facets of the housing spectrum. Ivy’s concept for Zelman & Associates remains strongly rooted in the ability to perform thematic research overlaid with proprietary surveys to produce unparalleled differentiated research. Ivy is frequently quoted in The Wall Street Journal and appears occ…
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Dec 23, 2020
December 2020 Real Estate Tips Round Up
Three tips here: Good Buy or Goodbye, Making Money in Your Sleep, and Interest Rates Aren't Why It's Time To Buy - Building Equity Is.
When someone asks, “Is this property a good buy?” Or “Should I be saying goodbye and invest elsewhere?” It’s not as easy as giving a quick yes or no. Most of the time there's not a straightforward answer because each person is starting from a different place have different long term or short term goals. So what is a great property for one isn't necessarily the best for someone else.
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The single most considered factor of any investment is Cash Flow. I am often asked, “What is a good cash flow?”. My answer is always the same...Positive. How much cash-flow is needed is subjective. Maybe you’re living in the property and house hacking so you don’t have to pay rent, or it could be a multi-unit that is cash-flowing so well it will pay itself off in 15 years instead of 30. Maybe it’s earning just enough cash to cover the mort…
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Dec 19, 2020
Finding Your Niche Will Serve You and Your Clients Well
"Our industry really has a need for professionals that use their platforms to take a stand for things and to help be change-makers in our community. I think the general public oftentimes looks at real estate, certainly in a city like Denver, a growing city where the prices have gone high, and there's people that can't afford to live in certain neighborhoods anymore and all of that." Nicole's guest is Ryan Belinak from Live Urban Real Estate.
His two big takeaway points for agents are these, Be kind to yourself, especially those who are new in the industry. Also, don't be afraid to adapt and put yourself out there. We have all learned new skills this past year and have had to listen to our own voices on playbacks more often than we thought possible.
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Nicole says to and about Ryan:
This week I have Ryan Belinak with me, who is the Assistant Managing Broker for Live Urban real estate and also the head of recruiting. Ryan, you have been a pleasure to get to know. We've been…
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Dec 14, 2020
Let your home help you make money in your sleep.
With a positive highlight from this year being consistent low-interest rates, you may not realize how your home is working for you already. You may be making money in your sleep. And if you haven't purchased a home yet or refinanced the one you want to stay in, this is the time. Align yourself with an experienced Realtor so they can help you realize your dream of owning real estate, or making more money in equity from the property you already own.
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Dec 11, 2020
Supply Isn’t the Story, Demand Is.
DMAR’s December Market Trends Report was released this morning and provided numbers supporting what we already knew. Demand is strong! Inventory hit an all-time low of 3415 active listings at month-end. Compare this to the average active listings for November month-end of over 14,000 and a happier place of 6,000 units. Sellers are exceeding the typical seasonal holiday slowdown of decreased supply. The added fears of job security, prospective buyers entering their homes, and finding a replacement home are adding to their resistance to sell. Potential Sellers are also starting to face what will become more widespread, something called rate lock where the appeal of staying in their current home with a lower rate and monthly payment will outweigh their desire to move. We will continue to see tenure increase from its current average of 10 years as well as homeowners holding onto their primary homes with low-interest rates and choose to convert them into rental properties.
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Nov 24, 2020
Be a leader for your clients.
Thank you for joining us for another agent talk This week I have Drew Morris, who I've got to know through DMARs Market Trends Committee. He jumped on just a little bit before I did about 2.5 years ago, and he's been a real estate agent for 7.5 years and I bring up the half because he claims it just like I claim my half an inch.
Drew Morris is with Your Castle Real Estate. I wanted to bring him on board because he has some of the same views I have and looking at real estate as a wealth-building opportunity and right now, having been through the most turbulent year I can personally remember and not being quite done yet. So how do we continue on our path to 2021 into 2022, 2023? How do we engage with our clients on a very personal level to continue to support their success in real estate?
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There is so much news to absorb whether or not we'll get shut down again, whether or not or how long, I should say before a vaccine comes out and we can return to whatever new normal loo…
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Nov 19, 2020
Financial Independence for Early Retirement through House Hacking
Nicole's guest today is Zeona McEntyre. In this episode, they talk about house hacking to financial freedom. House hacking is the way that Zeona thought to be financially independent. And her role now is really just to help empower people, inspire people and get them excited about what's possible. People they think, "Oh yeah, financial independence or early retirement, that's for other people, that can't happen for me. Or if I'm going to do that, it's going to take me 15 years." But she did it in two years with house hacking. She also believes it's really doable in five and traditional people that are doing just financial independence with index funds, they do it in about 10. So it's almost about just knowing it's possible and then allowing yourself to have that.
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In this episode she talks about the foundations of financial independence. Some of the kind of like misnomers or confusion around it. She'll go into why, why would you want to house hack? Why would you want to s…
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Nov 13, 2020
Don't Be Afraid of No from Your Lender
There's No Bubble to Burst I keep hearing that people are waiting for the Denver market to cool down to buy or sell. But is that the best plan? Appreciation is at 6.9% year to date, which mean phenomenal growth for those who have purchased and opportunity for those just diving in. How do I know? Because three years ago I was sitting in my backyard saying nearly the same thing. The difference between now and then? Low interest rates.
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Know What Your Getting So often clients will come to us and be scared or timid in asking questions. But I'm here to say, as the top lender in the state, you should ask every question you have and leave nothing on the table. Because sometimes a few answers can make all the difference in your lending outcome. You should be confident in your lender.
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Nov 5, 2020
Buyers, Sellers, Agents, this is not the time to rest.
November’s DMAR report highlighting October data reflects just how important the home has become by producing nearly as many records as we saw in last month’s report. Now is not the time to sit on the sidelines in fear that the bubble will burst; it is the time to stay engaged. Finding the right home might be challenging, but waiting will only cost you more.
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Nicole Rueth The Rueth Team of Fairway Independent Mortgage Corporation 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com
Connect on social media: Follow me on FB: https://www.facebook.com/theruethteam/ Twitter: https://twitter.com/nicolerueth Linkedin: https://www.linkedin.com/company/the-... YouTube Channel: https://www.youtube.com/channel/UCPMd...
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Oct 30, 2020
Forbearance and Unemployment Numbers' Effect on Denver Real Estate Market
What do the current numbers tell us about the difference between delinquency and foreclosure? About values for the top 10% of home prices vs. the entry-level lower-priced homes? Some highlights to this episode include;
We have to make sure that we distinguish this for our clients because the delinquency rates are not foreclosures, they're forbearance. And those numbers of people that are going off on forbearance is growing. More people are coming off forbearance. When they're talking about the delinquency numbers are going up, they're watching that under 30 days, 30 to 60, over 90. That's increasing and that's the number that jumps out on the headlines. Realistically though, the number of mortgages and active forbearance is going down, because remember, we started this in that March and April timeframe. Really, April was the first month that people could skip their mortgage payment with the forbearance, the CARES Act. All of those people had up to 12 months that they could be on forbe…
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Oct 16, 2020
Giving Agents the Tools to Be Essential Human Resources for Buyers and Sellers
Nicole gives us a chance to meet the new CEO of DMAR, Nobu Hata. Nobu tells us the plans for membership support and value-added benefits.
Nicole asks him some questions that you will want to hear the answers to, even if you are not in the DMAR Sphere. His perspective includes what he learned working at NAR.
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* Working with the Realtors, your wife, and those in your community, do you think it changed your perspective and how you expected to enter DMARs community? Or do you think you're right in alignment with where you were when you left NAR?
* What is your primary focus, and how do you want to change DMA to support the membership or the experience that your DMAR community is facing today?
* Talk a little bit about your vision in the space of services and content that will benefit and support members.
* What's going to be the next disruptive company?
* Suppose you're meeting a newer agent who's considering entering the association, what advice would you give tha…
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Oct 9, 2020
Resurgence of HOME and how it affects the Denver real estate market
It’s become infinitely more important as it’s our refuge, our workplace, classroom, meeting room, restaurant, escape and for some, our isolation. The Denver Metro Association of REALTORS® (DMAR) October Market Trends Report highlights how this resurgence in our home has played out in the stats.
* We have the lowest amount of homes for sale for any September at 5,301 homes, which consequently is only a mere 950 homes more than Denver-area’s all-time inventory low
* Buyers put your sneakers on because homes are selling in six days, the fastest for any September on record
* Be ready to pay more. Denver’s median closed price hit a record high at $461,000. Consequently, that’s more than the sellers were asking, as the close-to-list price for September was 100.41%
* Even with this low inventory, we sold 5,850 homes, more than any September on record
* With another record 6,376 pending sales teed up for October
* Sellers, I see you are trying. 6,376 new listings came o…
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