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What’s happening in real estate this week? May 14th 2024
Last week was the National Association Of REALTORS legislative meetings where REALTORS all over the country traveled to DC to meet with our representatives to advocate on issues facing our industry. At the meeting Chief Economist Lawrence Yun predicted that by year-end, average interest rates will stabilize at 6.5%. He also anticipates a 9% rise in existing home sales to 4.46 million in 2024, up from 4.09 million in 2023.
Speaking of great of news, in the first quarter of 2024, nearly half of all mortgaged residential properties in the US. were equity-rich. This means the loans secured by these properties were no more than half their market value, leading to record equity levels.
Mortgage demand increased last week as interest rates fell, following news of a slowing job market. The average 30-year conventional rate dropped to 7.18%, and the rate for FHA loans fell to 6.92%.
Finally, The Conference Board Consumer Confidence Index, which reflects prevailing business conditions and likely developments for the month ahead, deteriorated for the third consecutive month in April. However, despite these three months of weakness, consumer confidence remains steady with optimism about the present situation offsetting future concerns.
Thats what is happening this week in real estate, follow for more updates!
Spotlight On Success: Conversation With Real Estate Team Leader Sharon Webb Of The Webb Realty Group
In this Spotlight On Success interview, Director Of Marketing Bryan Selser, sits down with top-producing team leader Sharon Webb, to discuss how Sharon and her team continue to find success in the industry. Topics included keeping up with trends, managing a busy schedule, building a successful team, and more!
Luxury Home Tour: 7+ Acre Home In Pittsboro, NC 27312
Discover the epitome of luxury rural living with this meticulously maintained four-bedroom, custom brick home, nestled on just over 7 acres of beautifully landscaped, gated grounds. Step into a world of sophistication as you enter the grand foyer where soaring ceilings and natural light welcome you. The main level invites you to unwind in the spacious primary suite, complete with a spa-like ensuite bath and dual custom-designed walk-in closets. An ensuite guest bedroom and formal living and dining areas ensure effortless entertaining. This stunning home boasts a spacious, dedicated home office perfect for the professional who works remotely. Airy windows bathe the area in natural light and offer views of hummingbirds and butterflies to keep you connected to nature while you work. A large custom maple built-in offers ample room for your computer equipment and important documents while providing plenty of space for a large desk and seating. The heart of the home is the gourmet kitchen, designed for culinary excellence. High-end appliances, custom cabinetry, and quartz countertops will inspire your inner chef. Dual staircases lead to the second floor where versatility awaits. Discover a second ensuite guest bedroom, flex room, large bonus room, and third guest bedroom with adjoining bath. Thoughtful features ensure your comfort and peace of mind, including a whole-house generator, central vacuum, security system, and irrigation system. Ample storage is provided by a walk-in attic and a full walkout basement, complete with shelving, plumbed for future expansion, and boasting an oversized one-car garage. The main level offers a three-car garage and additional outdoor parking space. Step outside and discover a haven for outdoor enthusiasts. The climate-controlled brick building offers generous storage for all of your toys and 50 amp power service to keep your RV or boat ready for adventures. Horses are welcome on this expansive property, offering the freedom to embrace country living at its finest.
Listing Agent: Brenda Goff
https://www.cbadvantage.com/…/55-valley…/107-1504691
Checking Out The Carolina Exotic Car Club, Raleigh NC
Recently, we hosted our Coldwell Banker Advantage top real estate agent event at the Carolina Exotic Car Club in Raleigh, North Carolina. It was an awesome experience!
The Carolina Exotic Car Club is a private, members-only club that caters to car enthusiasts. It’s a unique facility that combines all aspects of service and amenities for exotic and collector car owners1. The club offers secure climate-controlled storage, on-site maintenance and repair, detail, private event venue rentals, catering, enclosed transport, and much more.
During the event, I had the chance to meet the team from ECD Auto Design. They are creators of restored luxury vehicles that combine classic English beauty with modern performance2. Their facility is over 30,000 square feet and growing with over 50 full-time employees building the best award-winning vehicles in the USA2. They specialize in restoring Land Rover Defenders, Land Rover Series IIA, the Range Rover Classic, and the Jaguar E-Type.
The event at the Carolina Exotic Car Club was a lot of fun. It was a fantastic opportunity to network, see some amazing cars, and learn more about the world of exotic cars. If you’re a car enthusiast in the Raleigh area, I highly recommend checking out the Carolina Exotic Car Club. Check out my video below to take the tour.
Spotlight on Success: A Conversation with Top Producing Agent Jennifer Coleman
I recently had the opportunity to sit down with Jennifer Coleman, a top-producing real estate agent out of Cary, North Carolina, with Coldwell Banker Advantage. Jennifer has been excelling in her business and beyond being a top-producing real estate agent, she is also the host of a national TV show called American Dream TV. She was most recently featured in Triangle Real Producers magazine. In addition, Jennifer has been recognized as a Coldwell Banker Award winner again this year and has been featured in Triangle Real Producers magazine. It’s been an exciting year for Jennifer, and she feels honored to have been selected for all these different roles and to be able to represent the Coldwell Banker Advantage brand, herself, and her clients.
When I asked her about the key to success in real estate, Jennifer emphasized the importance of relationship building. She has always been a relationship-oriented person and believes in being authentic and providing value to her clients. She approaches her work with the goal of providing value to her clients, which she believes leads to growth in her business.
Her story provides valuable insights and tips for success in any business. Check out the full interview in the video below.
Building An Intentional Business, Defining Your Values, & Work-Life Balance With Molly McKinley.
Recently, I had the opportunity to sit down with Molly McKinley, the author of the book “The Intentional Business: A Path to Purpose and Prosperity”. We delved into the concepts of her book and learned how to apply them to our day-to-day lives. In her book, Molly talks about the concept of being purposeful and how you can connect the dots between purpose and your marketing to create an intentional business. This concept can apply to any business in any industry. When you build a business based on knowing yourself, you start to build a business based on purpose. When you marry that with what the world needs, you start to have a business that is generally prosperous and purposeful.
Being in real estate can be a demanding job. We wear a lot of different hats and get put into a lot of different roles. It can be hard to find work-life balance and manage our hectic schedules. But with the concepts from Molly’s book, we can learn to be more purposeful in our actions and create a more balanced life.
My conversation with Molly McKinley was enlightening and inspiring. Her book “The Intentional Business: A Path to Purpose and Prosperity” provides valuable insights for anyone looking to create a more purposeful and prosperous business. Check out the full interview in the video below:
