Monday, April 3, 2023 / by Nick Waldner
You have options to safeguard yourself from fluctuating rates.
What happens if interest rates increase after you’ve already gone under contract? Is there any way to protect yourself?
Typically, mortgage lenders provide a floating rate, which is an estimated rate that could rise or fall, depending on what’s happening in the market, during the pre-approval process. That’s why you should initially assume that your rate will be higher than you were quoted and budget accordingly. This may shrink the pool of homes that are affordable to you, but it also means that you won’t have to cancel a deal simply because interest rates spiked during the process.
Once you’ve gone under contract, your lender will provide an actual rate which you have the option to lock in between when you apply for the mortgage and the closing date. In a market with rising rates, you should lock yours in as soon as possible to prevent it from increasing further.
"A rate l; ...
Tuesday, March 21, 2023 / by Nick Waldner
These six methods could help you save big money on your taxes.
Sound the alarms; a recession is coming! Have you heard the news? If not, it’s important that you get up to date and prepare. I can’t predict the future with 100% certainty, but I have seen many stats that prove a recession should be coming. What are those stats? What should we do about this? How will this affect the real estate market? Today, I am here to answer these questions and more.
Watch the full explanation in the video above or skip to specific topics using these timestamps:
0:00 — You are paying too much in taxes
0:25 — The Augusta Rule
1:09 — The 199A
1:44 — Pay your kids
2:40 — Employer retention credit
3:13 — Start an opportunity fund
4:00 — 45L Energy Credits
4:22 — A book recommendation
4:35 — Call me if you have questions
If you want help investing in real estate or have more questi ...
real estate, home selling, nome buying
Wednesday, November 9, 2022 / by Nick Waldner
Explaining how the supply of inventory affects your home’s value
How does the monthly supply of inventory affect the value of your home? Let's go over that today so we understand it.
Things have changed in the market over the last two years. If you look back earlier this year in January to April, we had less supply than we did the year or two years prior in each of those months. But come May, that was the first month where we had more supply than we did at the same time last year. You're now seeing that trend continue in June and July. Both had more inventory than in 2021 and 2020.
So you're starting to see inventory tick up, and you think simple economics would tell you that more supply means the prices will begin going down, but here's the thing: Because of the market crash from 2005-2007, we stopped building while America continued growing its families. We had more households than we did actual new construction. We have this supply and demand that has thrown e ...
Tuesday, October 11, 2022 / by Nick Waldner
The recent changes in our Maryland housing market and how they affect you.
What is happening in the Maryland real estate market? I get a lot of questions from homeowners and prospective buyers about the changes in our market. That’s why I’m here to be your guide and help you understand what is happening. Today I’m breaking down some of the shifts in inventory, interest rates, home prices, and the market as a whole. Here are some common questions and their answers:
1. Is it a buyer’s or seller’s market? It is absolutely still a seller’s market. Inventory remains low while demand is high.
2. What does the current housing inventory look like? While we are starting to see inventory rise, we’re still well below pre-pandemic levels.
3. How does the inventory affect home values? As more homes come on the market, the demand for particular homes is falling. Over the last few years, we’ve seen increases of 15% to 30% in ho ...
Friday, September 30, 2022 / by Nick Waldner
Three options for those who need to buy a home before selling.
Talking Point #1: Make an offer with a home-sale contingency
By including a home-sale contingency in your offer, you can purchase the new house once your existing one sells successfully. If your current home doesn’t sell within a certain time frame, you can cancel the purchase contract without any penalties. To sweeten the deal, your agent can explain to the seller that your house will likely sell fast in today’s market.
Talking Point #2: Finance with a bridge loan
A bridge loan is a short-term, high-interest loan. When you buy with a bridge loan, you can use your existing home as collateral to get a loan for your new house. To close your bridge loan faster, try to align the closing dates of your buying and selling transactions.
Talking Point #3: Use a service that will help you make a cash offer.
home selling, nome buying, real estate