Episode 158: Market Update - From Rising Rents to Record Equity

Get ready to dive🏊 into the latest updates and trends in the housing market! As usual, we have our expert guests Tara Krieg, Joe Smith, & Anthony Penna joining us to share their insights and expertise on the current state of the market. In this episode, we'll take a look back at our previous market update and discuss how the numbers have changed.📈 From rising rents to consumer debt, our panel will break down all the factors influencing the market right now. Anthony will share his perspective, from a title company standpoint, and give us a deep dive into the current interest rates. You'll also see some eye-opening charts that show the incredible equity💰 that Americans are sitting on, making real estate an extremely safe and valuable investment. We'll touch on the ongoing NAR lawsuits and settlements, and give our thoughts on the essential role of real estate agents in the home buying process.🙌 You'll also hear why we believe owning a home is always a better option than renting, and why it's not just about the interest rate when it comes to purchasing a home. Like Joe says "You don’t buy the house for the interest rate you buy the house because it’s time to buy a house".🏠 Tune in and get ready for some insightful and valuable information. Also, be sure to check out our 'Show Extras' tab to see all the stats and charts from today's show! Listen & Learn: 0:50 - Rebecca intros Tara, Joe, & Anthony 2:16 - Recap of the last market update 4:10 - Rebecca recaps the stats from our last market update 5:06 - Joe’s thoughts on the market now compared to the last episode and why we are where we are 7:32 - Tara’s thoughts on the market now and consumer debt 8:56 - Rising rents explained 9:23 - What is Anthony’s company Navi Title seeing with the housing market and current interest rates 10:53 - Everyone is paying higher interest rates, businesses, car loans, etc. 11:40 - Anthony’s charts on the current market 13:05 - 48 consecutive quarters of positive price appreciation chart 14:30 - Why we think purchasing real estate is the safest investment 16:19 - Americans sitting on tremendous equity chart 17:08 - Why we believe real estate agents are an essential part of home buying process 19:43 - Our thoughts on the NAR lawsuits and settlements 24:36 - Anthony’s chart on co-broke offered to buyer’s agents 27:42 - Fannie Mae responds to the NAR lawsuits 29:58 - What we think about the current interest rates 33:39 - Rebecca covers the Cromford stats 36:26 - Most expensive city to buy in the valley 37:05 - The Cromford index chart explained 37:55 - Anthony’s final thoughts for today’s show 38:40 - Joe’s final thoughts 39:43 - Tara’s final thoughts 40:32 - Rebecca’s final thoughts Special Guests: Anthony Penna - Senior Vice President at Navi Title: Navi Title Agency is an Arizona-based full-service title agency. They offer competitive escrow and title solutions complemented by a strong tradition of grassroots standards. Phone: 602-510-8848 Email: [email protected] Website: www.navititle.com/ Joe Smith - Owner/Broker of Epic Mortgage: Joe Smith first started in the mortgage business in 2002 as a loan officer. He quickly established himself as a top producer, eventually managing the state of Arizona for a top 10 mortgage lender. Currently, Joe is the Broker and Owner at Epic Mortgage and is definitely someone you're gonna want to go to for advice on lending! Phone: 602-741-4121 Email: [email protected] Website: www.myepicloan.com Tara Krieg - Owner of TK Team Lending: Licensed to provide mortgages and loan programs for homeowners and buyers within Arizona, she has over 12 years' of experience in all aspects of real estate finance, real estate investing, mortgage planning, and business planning. Phone: 480-344-1951 Email: [email protected] Website: www.tkteam.us