Homeowners Struggle Finding The Perfect Number

1. From the first 4 minute video:

   Central Texas Market Update | Austin Texas Real Estate
   Craig Smyser
   Feb 14, 2023
   The real estate market may be bottoming out.

   The stats I’m providing are resale homes only in Travis and Williamson Counties. More about the stats at the end.

   In January, 843 resale homes closed in Travis & Williamson Counties which was down 44% from January 2022. The median price in January decreased 6% to $470,000. It also marks a 22% decline from the peak median price of $600,000 that we hit in May. But, $470,000 was the same median price as December which means for the first time in seven months, prices did not decline. Whether it is a bottom of the market or just a break in the decline is yet to be seen. In real estate, the primary way we measure home values is with the median price. But, there are other numbers worth examining. The average price of a home was essentially flat year-over-year at $599,018. However, that is down 19% from the peak in May. The average price per square foot decreased by 7% to $290, and is down 21% from the May high-level mark.

   The number of available homes in January was 3,827, up 237% from last January. During January, 1,560 new listings hit the market which was down 2.3% from last year.

   The average sales price to list price ratio was 96.2%. For homes that closed in January, the average days on market was 73, up from 25 last year. The January sales ranged from a low of $150,000 to a high of $5,700,000.

   So is the market bottoming out? It’s too early to tell. The median price was unchanged from December so that indicates maybe the market is leveling out. But a 44% year-over-year decline in the number of homes sold, following drops of 51% and 54% the prior two months, doesn’t suggest a leveling out. On a month-over-month basis, the number of homes that sold in January was 26% below December. So while the data is certainly interesting, we need to wait a bit longer to see if we are bottoming out. On the positive side, interest rates have come down about 1% from their peak in the fall and prices have continued to come down as well. This is bringing some more buyers back into the market. It doesn’t necessarily mean they are writing contracts yet, but we are seeing some more activity. The next few weeks will likely set the tone for the spring and give us some clues as to market direction. One thing I do expect is that the number of homes offered for sale will continue to be under historical norms. Over 80% of homes in Texas with a mortgage have a rate in the 4%s or lower. In fact, many are in the 2s and 3s. That is going to stop some people from moving. Known as the ‘lock-in’ effect, many folks who don’t have a compelling reason to move will decide against moving because they don’t want to change from a 3% to 6% interest rate and the accompanying increase in monthly payment.

   The stats I’ve cited are resale homes only in Travis and Williamson County classified as single family residential, condominium, or townhouse. This is different than the stats released by the Austin Board of Realtors which include all types of homes and also include Hays, Bastrop, and Caldwell Counties. Plus, their numbers include any new construction homes listed in the MLS.

   The second 2:39 video:

   3 Things You Need To Know Today To Sell Your House In Houston Texas
   Diane Sanders – Sanders Family Real Estate
   Feb 14, 2023
   Homeowner Are You Afraid You Have Missed Your Window To Sell Your Home? 😨
   Sure, the Houston housing market has slowed down from the last two INSANE YEARS. 💰💵 It had to. 👍🏼🙂 if you are wanting to sell your home there are about 3 things you need to take into consideration:🏠🔑

   The third 5:45 video:

   DFW Metroplex January 2023 Real Estate Market Update
   Living In Fort Worth TX – With Jeremy Smith
   Feb 14, 2023
   Welcome to our latest video on the Dallas Fort Worth real estate market in January of 2023. In this video, we will discuss the latest trends, prices, and predictions for the DFW housing market.

   First off, let’s start with the current state of the market. As of January 2023, the Dallas Fort Worth real estate market is experiencing a slight rise in home prices, which is excellent news for homeowners looking to sell their homes. The average home price in the DFW area has increased by 1% compared to the same time last year.

   One of the main reasons for this increase in home prices is the continued growth of the DFW economy. This growth has led to a surge in job opportunities, which, in turn, has attracted more people to the area. As a result, there is a high demand for homes, and there are not enough homes to meet the demand, leading to a seller’s market.

   In this video, we will explore the all of the different metrics that you need to know in order to stay up to date with the market and your families real estate investments.

   Finally, we will provide our predictions for the future of the Dallas Fort Worth real estate market, including what homeowners and home buyers can expect in the coming years. If you’re interested in the Dallas Fort Worth real estate market or are looking to buy or sell a home in the area, then this video is a must-watch!

   So, stay tuned for our latest update on the Dallas Fort Worth real estate market in January of 2023. Don’t forget to like and subscribe to our channel to stay up-to-date on the latest news and trends in the DFW housing market

   00:00 Introduction
   01:15 Median Sales Price
   02:02 Price Per Square Foot
   02:34 Homeowners Struggle finding the perfect number to list their homes
   03:13 A lot more homes for sale
   04:20 Average Days on market
   04:45 Must Watch!
   05:01 Contact Us!

   The fourth 15 minute video:

   Frustration Building In Brampton, Mississauga & Durham Real Estate – Feb 8
   Team Sessa Real Estate
   Feb 15, 2023 CANADA

   Brampton, Mississauga, Ajax, Whitby, Pickering Real Estate Market Report for the week of Feb 2 – Feb 8, 2023.

2. Central banks’ inflation fall-guy lives Down Under
   Reuters|6 hours ago
   Down Under, variable-rate loans dominate, and banks pass on increases quickly. Fixed-rate loans became popular in the low-rate post-pandemic housing bubble, but most only have two-year locks. Some A$370 billion-worth ($255 billion) of those, almost a fifth ..

   Reuters, this is new:

   ‘post-pandemic housing bubble’

   1. Fixed-rate loans became popular in the low-rate post-pandemic housing bubble, but most only have two-year locks.

      Sounds like a variable rate loan to me.

3. Russia Today — Andrey Sushentsov: Here’s why Ukraine’s Zelensky wants a long war with Russia (2/15/2023):

   “It is unlikely that President Vladimir Zelensky expects to win militarily. But it seems that he genuinely believes that he will succeed in turning Ukraine into something like Israel – a paramilitary state living with a sense of constant military threat.

   Ukraine doesn’t have the military or economic resources of its own to achieve victory, and the resources provided by the West will never be enough to inflict a final defeat on Russia. Zelensky’s calculation is likely based on the belief that by offering Ukraine as a tool for NATO to use against Russia, he will constantly mobilize Western support and thereby ensure his own survival, and that of his associates.

   In the worst-case scenario, as he sees it, Zelensky is probably counting on emigrating to the West with his closest associates, where they will advocate a continued policy of Russian containment. But does he care about the interests of ordinary people in Ukraine?

   Zelensky’s government acts as if it sees no value in preserving Ukrainian statehood. The administration is squandering citizens’ lives and the economic fabric of the country in the belief that this sacrifice is necessary to gain some possible, rather indefinite, advantage in the future. Instead of acting as a peacemaker, as someone who is prepared to make sacrifices to save the lives of his people, Zelensky acts like a gambler, while feeding the population military propaganda.”

   https://www.rt.com/russia/571525-zelensky-wants-long-war/

   Russia is winning.

   1. New York Times — ‘The World’s Largest Construction Site’: The Race Is On to Rebuild Ukraine (2/16/2023):

      “As the country’s leaders lay postwar plans, companies from around the world are jockeying for advantage in what could be a multibillion-dollar effort, although one loaded with risk.

      “There’s so many initiatives, it’s hard to know who’s doing what,” said Sergiy Tsivkach, the executive director of UkraineInvest, the government office dedicated to attracting foreign investment.

      “They all say, ‘We want to help in rebuilding Ukraine,’” he said. “But do you want to invest your own money, or do you want to sell services or goods? These are two different things.”

      Most are interested in selling something, he said.

      https://archive.is/P3hxA

      Most are interested in selling something.

      Sounds about right.

   2. In the worst-case scenario, as he sees it, Zelensky is probably counting on emigrating to the West

      Probably to the US. With multiple homes across the country.

4. Struggling mortgage shop Celebrity in M&A talks with On Q Financial: sources
   HousingWire|13 hours ago
   Six months after shutting down its correspondent lending division, Illinois-based mortgage company Celebrity Home Loans’ bread-and-butter retail channel is also at risk, multiple sources told HousingWire. According to former employees and business …

   LSL mortgage subsidiary Embrace to cut broker numbers
   FTAdviser|15 minutes ago
   Mortgage advice firm Embrace Financial Services has placed some brokers at risk of redundancy as the firm looks to restructure to boost its financial performance

5. Walt Disney Co. Chief Executive Bob Iger said last week that the Burbank company will be slashing 7,000 jobs as the firm’s streaming efforts continue to lose money and the wider economy wallows through a downturn.

   But the House of Mouse isn’t alone in tightening its belt. Across the media and entertainment industry, companies are shedding staff, winnowing budgets and looking to shore up cash on hand as they steer out of the pandemic and into an uncertain future.

   Warner Bros. Discovery cut hundreds of jobs over the last year, including at CNN; Netflix followed a similar tack. Now United Talent Agency, NBCUniversal and Paramount Global are laying off employees too, as are tech companies — a sector that’s increasingly entangled with media and entertainment interests. Meanwhile, Regal Cinemas is shuttering theaters across the country.

   “It sure is one of the largest sets of cuts,” said Steve Ross, a USC history professor who has written books about labor and class in Hollywood. “And I think we’re going to see more cuts.”

   https://www.latimes.com/entertainment-arts/business/story/2023-02-15/what-disney-layoffs-say-about-the-state-of-entertainment

   1. Get Woke Disney, go broke.

   2. I have found that these streaming channels have little that interests me.

      Disney is targeting the upper middle class demographic, as the skyrocketing cost of visiting their theme parks and staying at their hotels will attest. Time will tell how this works out for them, but judging by how badly their Star Wars themed hotel flopped, I’m gonna guess it won’t be great for them.

6. Washington Post — Election deniers face a nationwide wave of pushback (2/15/2023):

   “The growing effort by election officials and others is intended to counter mistrust arising from Donald Trump’s claims of a rigged 2020 vote”

   https://archive.is/h1C1r

   Joe Biden didn’t win the 2020 election.

   Trump won. The election was stolen.

   1. a nationwide wave of pushback

      Actually, it’s a call for punishment for pushing back. We’re pushing back against abuse. You want/need to punish that. They dynamics and language of abuse are always the same.

7. 𝗠𝗼𝘂𝗻𝘁 𝗣𝗹𝗲𝗮𝘀𝗮𝗻𝘁, 𝗡𝗖 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗣𝗿𝗶𝗰𝗲𝘀 𝗖𝗿𝗮𝘁𝗲𝗿 𝟮𝟭% 𝗬𝗢𝗬 𝗔𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗔𝗻𝗱 𝗔𝗽𝗽𝗿𝗮𝗶𝘀𝗮𝗹 𝗙𝗿𝗮𝘂𝗱 𝗜𝗻𝘁𝗲𝗿𝘀𝗲𝗰𝘁𝘀 𝗜𝗻 𝗧𝗵𝗲 𝗥𝘂𝗿𝗮𝗹 𝗦𝗼𝘂𝘁𝗵 𝗘𝗮𝘀𝘁

   https://www.movoto.com/annandale-va/market-trends/

   𝘈𝘴 𝘰𝘯𝘦 𝘯𝘢𝘵𝘪𝘰𝘯𝘢𝘭 𝘣𝘳𝘰𝘬𝘦𝘳 𝘭𝘢𝘶𝘨𝘩𝘦𝘥, “𝘏𝘰𝘶𝘴𝘪𝘯𝘨 𝘱𝘳𝘪𝘤𝘦𝘴 𝘢𝘳𝘦 𝘧𝘢𝘭𝘭𝘪𝘯𝘨…. 𝘢𝘴 𝘴𝘦𝘭𝘭𝘦𝘳𝘴 𝘨𝘰 𝘣𝘰𝘰 𝘩𝘰𝘰 𝘩𝘰𝘰.”

8. Fetterman is back in the hospital, allegedly because he is depressed.

   So what are the odds he will still be around by the end of the year?

   Will he be replaced by his one time illegal alien wife? I’m betting on it. It will be great optics for the left: “American success story: immigrant is sworn in as US Senator”

   1. Goodnight everyone.

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