MartiniVibe | A Real Estate Newsletter | Nov 1 2023

November 1, 2023 by Kevin Martini

MartiniVibe is a newsletter tailored for real estate agents, offering a distinctive blend of market wisdom, actionable blueprints, and insights into upcoming real estate trends.

Bad markets? Good markets? Scrap that way of thinking. The truth is, there’s only THE market.
Certified Mortgage Advisor & Raleigh Mortgage Broker Kevin Martini

What we’re neck-deep in right now isn’t a housing fiasco, it’s a massive fog of misinformation about real estate. Information is one thing, but understanding? That’s the golden ticket. Yet here’s the kicker: understanding alone doesn’t cut it anymore. In today’s world, if you’re a pro, you’ve got to be able to take that understanding, distill it down, and serve it straight to the people, showing them the how, the why, and the now. That’s where the MartiniVibe jumps in.

The MartiniVibe isn’t just any newsletter. Oh no. We’ve crafted this with passion and precision. Think of it as your cocktail of crystal-clear market insights, do-it-now strategies, and the freshest trends in real estate. We’re here to empower you, guiding every agent out there to help people realize their dreams of homeownership, all while scaling their own real estate mountains.

Don’t miss an edition of the MartiniVibe. Register today! Simply drop your email below for instant access. Together, let’s shape your success story!”

Appreciation

Case Shiller Home Price Index
The Martini Mortgage Group considers the Case Shiller Home Price Index as their benchmark for property appreciation. In August, the index indicated a 0.9% increase in home prices. Since January, there’s been a steady rise in home values, registering a 2.6% increase from the previous year and surpassing the June peak by 1.5%. While the index is projected to see a 6% appreciation this year, it’s expected that the growth might decelerate towards the year’s end, given the historical trend of slower appreciation during that period./

FHFA House Price Index
The Federal Housing Finance Agency (FHFA) has unveiled its House Price Index, which tracks the prices of single-family homes with conforming loan values. Unlike the Case Shiller Index, the FHFA’s index excludes cash purchases and jumbo home loans. According to the FHFA, there was a 0.6% increase in prices in August, representing a 5.6% rise compared to the same month last year.

MartiniVibe On Appreciation
There are five esteemed home appreciation reports: Case Shiller, FHFA, CoreLogic, Black Knight, and Zillow. These sources are a guiding light for many in the industry, and it’s heartening to see each of them achieving record highs, even outshining last year’s peaks. We all remember the little dip in the latter half of 2022, but it’s uplifting to note that we’ve more than bounced back from that brief setback.

To give you a clearer picture: in 2022, home prices ascended by 9% in the initial six months but took a small 3% step back in the latter half. The silver lining? The overall growth for 2022 was still a commendable 6%. As we dive into 2023, we’re filled with optimism. Based on data up to August 2023, projections suggest that home values are on course to grow by 6-8%. The exact figure might vary depending on which of the five reports resonates most with you. While we might witness a slight slowdown in the appreciation rate as the year winds down, be assured that we’re still in line for robust annual growth.

Marketing

Building genuine connections starts with the simplest yet most powerful gesture: saying someone’s name correctly. It’s a reflection of respect and attentiveness.

Every time you start a conversation, using their name not only personalizes the interaction but also deepens the rapport. This seemingly small detail can make a significant difference in forging trust.

If you’re ever unsure about pronunciation, here’s a nifty tool to assist you. Check out: pronouncenames.com. It’s a free resource that ensures you make that stellar first impression every single time. Remember, it’s the little things that often leave the most lasting impact.

Mortgage

Martini Mortgage Group Understands Self-Employed Borrowers

We know the unique challenges and incredible potential that self-employed individuals bring to the table. It’s not uncommon for those with entrepreneurial spirits to have accountants who think outside the box.

That’s why we’ve crafted a specialized offering: The Martini Mortgage Group’s 12-Month Bank Statement Program. This program is specifically designed for the self-employed and those with 1099 income.

Here’s the game-changer: Your clients can fully utilize 100% of their personal bank account deposits and, in more conservative scenarios, at least 50% of their business bank account deposits. With only a 10% down payment, they can access loans of up to $4 million.

We’re here to empower and enable your clients’ dreams. Let’s discuss this further and explore how we can best serve their aspirations. Connect with us today!

Certified Mortgage Advisor and Raleigh Mortgage Broker Kevin Martini

Navigating the Divorce Marital Home Landscape: A Comprehensive Guide by Raleigh Mortgage Broker Kevin Martini

September 29, 2023 by Kevin Martini

In the midst of a divorce, the marital home often becomes a focal point of discussions, especially when it comes to equitable distribution and financial settlements. Certified Mortgage Advisor and esteemed Raleigh Mortgage Broker Kevin Martini has dedicated years to assisting individuals through the intricacies of marital home mortgage and real estate matters during such emotionally taxing times. This article, coupled with an insightful guide, aims to shed light on the common pathways and considerations surrounding the marital home, its mortgage, and the equitable distribution of assets amidst a divorce in North Carolina.

Embarking on the Journey

The financial implications of divorce extend beyond the immediate concerns, often intertwining with the marital home’s value, outstanding mortgage, and the equity held therein. Here’s a simplified pathway to understanding these aspects:

Determining Your Home’s Worth: The first step involves an accurate appraisal of your marital home’s value. While online estimates provide a ballpark figure, a more precise evaluation can be obtained through the “What’s your home worth” tool below:

Calculating What You Owe: With your home’s value at hand, the next step is to ascertain the outstanding amount on your marital home mortgage. Review your recent mortgage statement for the remaining balance, and if there’s a second mortgage or home equity loan, sum up these balances.

Evaluating Your Home’s Equity: The final step involves calculating the equity by deducting the payoff estimate from the estimated value. This equity represents the gross funds you’d receive if the marital home were to be sold.

Exploring the Options for the Marital Home

Selling the Marital Home

Selling the marital home post-divorce is a straightforward yet emotionally challenging decision. Engaging a real estate professional with expertise in the local market can facilitate a smooth sale, ensuring you get top dollar for your home. The proceeds from the sale, after covering the mortgage and associated costs, are typically divided equally or as per the court’s equitable distribution.

One Spouse Retains the Home

If one spouse wishes to continue residing in the marital home and can afford the mortgage payments, a buyout of the other spouse’s share is a viable option. This scenario often involves refinancing the marital home mortgage to adjust the loan terms to the retaining spouse’s financial capacity. Kevin Martini and the Martini Mortgage Group offer specialized services in facilitating such refinances, ensuring a seamless transition.

Joint Ownership Continuation

In rare cases, couples continue joint ownership, either residing together in the marital home or renting it out. This arrangement requires a high level of cooperation and a clear understanding of the financial responsibilities involved.

In my professional experience as a Certified Mortgage Advisor, joint ownership continuation requires massive cooperation from both spouses.
Kevin Martini

navigating your marital home during divorce in north carolina — A complimentary and comprehensive guide on **Divorce Real Estate Guidance North Carolina** specific for those traversing the path of separation and eventually divorce with the crucial knowledge and resources required to make informed decisions concerning their marital home.

Martini Mortgage Podcast | Episode 191: Divorce and the Martial Home

Equitable Distribution and Mortgage Considerations

The court’s approach to equitable distribution of the marital home takes into account various factors, including the marriage duration, each spouse’s contributions, and the children’s welfare. If awarded the marital home, securing a mortgage under your name or refinancing the existing mortgage are crucial steps. Kevin Martini’s expertise in Raleigh marital home divorce refinance scenarios can be an invaluable resource during this phase.

5 Additional Tips by Raleigh Lender Kevin Martini

Maintain Mortgage Payments: Continue making mortgage payments to safeguard your credit score and prevent foreclosure, irrespective of your residence status in the marital home.
Open Communication: Engage in open discussions regarding the future of the marital home and mortgage. Reaching a mutual agreement can significantly reduce legal expenses and time.
Preparation for All Scenarios: Be prepared for all potential outcomes, including selling the marital home or buying out your spouse’s share.
Document Availability: Have all necessary financial documents ready to empower your attorney in advocating for your interests effectively.
Expenditure Record Keeping: Maintain a meticulous record of all expenditures associated with the marital home to ensure a fair settlement during the divorce proceedings.

Kevin Martini’s Commitment

The journey through divorce extends beyond emotional turmoil, significantly impacting your financial landscape. At the Martini Mortgage Group, we are dedicated to assisting you in exploring your housing possibilities during this transitional phase. Contact us for a complimentary Financial Transition Plan, marking the first step towards making informed decisions amidst this challenging time.

Kevin Martini’s passion lies in empowering families to create generational wealth through real estate with the perfect mortgage strategy. His proprietary system has revolutionized consumer-lender relationships in the mortgage industry, leading to over a billion dollars in home loans originated since 2006. Recognized as one of the top 50 Mortgage Originators in the country, Kevin Martini’s contributions have been featured in esteemed publications like Forbes and CNET. He also hosts the Martini Mortgage Podcast, providing up-to-date, factual content on real estate and mortgages, and shares his knowledge through his Instagram and YouTube channel, offering a comprehensive understanding of the real estate and mortgage arena.

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Why Deliberating on Raleigh Mortgage Rates Can Be A Misstep for Prospective Homebuyers

September 26, 2023 by Kevin Martini

In the quest for a home, many prospective Raleigh homebuyers are postponing their buying decisions, swayed by the current state of Raleigh mortgage rates. In this insightful piece, Raleigh Mortgage Broker Logan Martini from Martini Mortgage Group explores two compelling reasons this delay could be counterproductive.

Persistent Elevated Inflation

The onset of the pandemic saw the Federal Reserve roll out economic stimulus programs, coupled with significant governmental spending, propelling inflation rates to a pinnacle unseen since the early ’80s.

The annual consumer inflation soared past 8% in 2022, although recent data show a decline, landing at a 4.1% annual inflation rate. However, it’s still a departure from the Fed’s ideal 2% target.

A future dip in the annual consumer inflation rate towards the Fed’s 2% target might trigger a decrease in mortgage rates. Yet, a significant shift may continue for another year or two.

The silver lining is the concurrent rise in real estate values driven by inflation. Homeownership remains a robust avenue to amass wealth in the prevailing economy.

Surge in Bond Supply

Recent narratives reveal about $7.6 trillion of US government debt maturing within the upcoming year, mandating a refinancing at the existing market rates against the former era’s lower rates. This scenario will invariably ramp up interest expenses on government debt, breeding further obligation to cover the elevated interest charges.

Additionally, the fiscal burden of essential government initiatives like Social Security, Medicaid, and Medicare is skyrocketing with no downtrend in sight.

These dynamics forecast a flood of bonds entering the market in the ensuing years to cover these expenses. This influx will likely incite investors to seek higher interest rates on these bonds, casting a long shadow on Raleigh mortgage rates and keeping them lofty for at least another couple of years.

However, a glimpse back to the 1980s, when mortgage rates peaked at 18.63% as per Freddie Mac data, reveals that home buying continued unabated. Today’s interest rates are considerably lower, and with the option to refinance once inflation and bond supply find a stable ground, there’s little reason for apprehension.

Marry the Home, Flirt WIth the Rate

“Marry the home and flirt with the rate” is a strategic approach for homebuyers deployed by the Martini Mortgage Group. This phrase highlights the importance of understanding the long-term value of real estate (marrying the home) and the temporary nature of mortgage interest rates (flirting with the rate).

The fundamental principle behind “marry the home and flirt with the rate” encourages homebuyers to prioritize discovering the perfect property that aligns with their long-term aspirations. Simultaneously, it advises them to be astute and seize opportunities, regardless of the current mortgage rate environment, to secure their home investment. This approach is especially relevant as experts suggest that real estate is poised for more substantial growth.

It’s an undeniable truth that mortgage rates follow cyclical patterns even with stubborn inflation and elevated bond supply. Once this persistent inflation subsides, mortgage rates will likely trend lower, offering an opportunity to refinance and reduce borrowing costs. This prudent strategy underscores the delicate balance between acquiring a home at today’s price point and ensuring long-term financial comfort and stability.

Raleigh Mortgage Lender Logan Martini’s Expertise

For a deeper dive into the ripple effects of inflation, bond supply, or to determine if the “Marry the Home, Flirt WIth the Rate” philosophy aligns with your vision, reach out to Logan Martini of Martini Mortgage Group, a seasoned Raleigh mortgage lender serving families nationwide.