Not Your Normal Broker

Enjoy the weekend!

On The Road To Rate Cuts, Markets Asking "Are We There Yet?" (Spoiler Alert: No) Back in late 2023, we got in the car with the Federal Reserve with the promise of a trip to our favorite place: the land of lower interest rates. In 2024, we keep asking "are we there yet?" The more we ask, the farther we seem to be from the destination.

Rates lower...limited inventory equals higher prices.
Now is the time to get qualified for a new property.

ATTOM Vacant Property and Zombie Foreclosure Report showing that 1.3 million (1,294,505) residential properties in the United States are vacant. That figure represents 1.27 percent, or one in 78 homes, across the nation – virtually the same as in the third quarter of this year.

The Pre-Foreclosure Paradox: sales of distressed homes with equity
allow homeowners to avoid foreclosure and benefit from that equity, but the pre-foreclosure marketplace also attracts predatory behavior.

The solution is more transparency that attracts more competition,
shining a light in this dark corner of the real estate market to
protect distressed homeowners.

A deeper dive into pre-foreclosure sale data reveals that while many
of these properties may have equity on paper, most are still selling
well below their estimated after-repair market value. An analysis of more than 40,000 pre-foreclosure sales that occurred between 2018 and 2023 — after previously being scheduled for foreclosure auction on the
Auction.com platform — shows the properties sold for 18% below their
estimated after-repair market value on average.

While some discount below market value is to be expected with these
properties — many are in distressed condition due to deferred
maintenance — a look at the discount by buyer type indicates that some
buyers are getting a bigger discount than others.

About one-third of the pre-foreclosure sales went to buyers identified
in the public record data as institutions, including companies,
corporations and limited liability companies. These institutional
buyers purchased pre-foreclosure properties for 30% below estimated
after-repair market value on average.

Ways to stay in the black!
There is more to real estate than mortgages and buy/sell property...

With the economy facing new challenges and fears of recession on the rise, will we finally see a return to pre-pandemic REO volumes? We're going to talk about it at the REO Forum, coming up at Five Star Conference.

This REO Forum will focus on changes you can expect in the market, and how to increase your sphere of influence and your market share (hint: it involves transferable skills from REO). We also have a panel of experienced REO attorneys led by Freddie Mac's REO Director, who will talk through what you need to know from their perspectives.



Find out what subject-matter experts believe will happen to REO volumes in the months ahead, where the opportunities will come from, and how asset managers and other stakeholders are preparing for these shifts.



Join the discussion when you attend the REO Forum at Five Star Conference!

Fantastic event -
Finding new sources of lending -
Literally any type of property...any situation.

With banks consolidating private lenders are being sought out to fill the funding gaps.

Sponsor for NPLA
(National Private Lender Association)

REO connect is a platform for real estate brokers to gain knowledge and contacts in the default real estate industry.

Five Star Institute REO professionals

We're not on the verge of a 2008-like housing bust..

Mortgage Rates are heading lower!

Mortgage Applications Slow Their Pace, But Rates Should Help Soon Mortgage activity slowed significantly last week, pulling the Mortgage Bankers Association’s (MBA’s) Market Composite lower after three weeks of gains. The Index, a measure of loan application volume,...

Great pricing on distressed properties all over California!

"The past several weeks have been the calmest in more than a year. This has more to do with indecision than intention. Market participants are waiting to see what the data says about the next leg of the journey and how the Fed will respond to the data."

Mortgage Rates Have Been Calm So Far This Week. That Could Change Now Mortgage rates have been roughly in line with last week's latest levels at the beginning of the current week.  That means they're fairly close to the 4 month lows seen 2 weeks ago with the avera...

Are people struggling to pay their mortgages?

A Look at First-Lien Mortgage Defaults Releasing data covering August 2022, Standard & Poor (S&P) and Experian publishe...

Starting off with providing data for your consumption.
The market is going through some significant changes...

Rates Aside, MBA Sees Job Numbers as Positive for Housing Market Mortgage application volume fell again last week, but the declines were small compared to the double-digit declines in all indices during the week ended September 30. The Mortgage Bankers Association ...

Good information....

Misconceptions That Keep Potential Homeowners Out of the Market Owning a home is a cornerstone of the American Dream, but prospective first-time buyers must ove...

Inflation at 9.1% - Rates lower?

Paradoxical Bond Bounce Despite Hotter Inflation Data We knew CPI was the biggest potential market mover this week and it hasn't disappointed in that regard.  It has also provided bonus entertainment in the form of a paradoxical recovery after a sha...

Celebrating and honoring our heroes today. We hope all of you are having a safe holiday weekend!

False! While debt owed is a factor taken into consideration when getting approved for a mortgage loan, being debt free isn’t required! If you have car payments, student loan debt, etc., you can still make homeownership a reality. Contact us today!

Not Your Normal Broker updated their information in their About section.

Looking to solidify your budget? Try using our free affordability tool at NotYourNormalBroker.com/Affordability/ to see how much loan you can qualify for.

Own a home? You can potentially save hundreds of dollars each month! Contact us today to see if refinancing is right for you.
(800) 818-0425
notyournormalbroker.com

Let us help you get into the home of your dreams ... and have some fun along the way! Contact us today to get started!
(800) 818-0425
notyournormalbroker.com

Save more than $900 when you buy vs rent!
Contact Our Agents Today.
(800) 818-0425
notyournormalbroker.com

Just coming onto the market, a top level condo, two bedroom two bath, located in Encino California.

List Price: $390,000

Total payment less than $2,600 a month at 5% down with a 760 FICO. $370,000 loan amount at 2.75% APR.

Contact: (800) 818-0425
notyournormalbroker.com

Found the home of your dreams? Together we will find the loan and rate to match it. If you’re ready to become a homeowner, we’ll help you make it happen on your terms.
Call today to get started: (800) 818-0425

We offer unique programs that let you refinance with as little as 3% down. If your credit score has improved, you want to lower your interest rate and/or you’re low on equity but want to refinance, call me today to discuss your options.

(800) 818-0425
notyournormalbroker.com