On The Market

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Book Mentioned in the Show:

Finding and Funding Great Deals by Anson Young

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135: New Agent Lawsuits Could Have Profound Effects for Buying and Selling Homes w/James Rodriguez Aug 28, 2023

Show notes

New real estate commission lawsuits could change home buying and selling as we know it. Long gone may be the days of buyers walking away paying zero commission and sellers having to bear the entire burden of a real estate transaction. Two new class action lawsuits against the National Association of REALTORS (NAR) could change how agents are paid and deals are done, but should investors even care?

We brought in James Rodriguez, Senior Real Estate Reporter at Business Insider, to explain exactly what could happen to commissions, what this means for the future of buying and selling real estate, and whether or not the next agent extinction is on our hands. With over $40 billion in damages from these combined lawsuits, real estate agents may wake up to an entirely new housing market where their services are rarely needed.

But who’s forging this fight against real estate agents, and why are they pushing for a “decoupling” of commissions? And, if you’re a full-time agent, should you be concerned about where your next paycheck could come from, or is this merely a hollow case with no REAL threat to hard-working agents and realtors? Stick around; we’ll get into who should (and shouldn’t) be worried.

In This Episode We Cover:

The multi-billion dollar NAR lawsuits explained and why commissions could be “decoupled”

A BIG threat to buyer’s agents and what happens when their services are no longer needed

Whether or not using an agent is worth it, and why most investors will STILL rely on realtors and agents

The potential of an MLS (multiple listing service) overhaul and combining all local listings into one

Paying agents per hour and the future of real estate commissions

And So Much More!

Links from the Show

Join the Future of Real Estate Investing with Fundrise

Connect with Other Investors in the “On The Market” Forums

Understanding Real Estate Commissions (And How to Negotiate Them!)

The multibillion-dollar lawsuits that could radically reshape how we buy and sell homes forever

Connect with James:

James' Profile - Insider

James' Twitter

Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-135

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134: Why 2023’s “Rolling Recession” is Almost Impossible to Predict w/Liz Ann Sonders Aug 25, 2023

Show notes

Holding on to hope that mortgage rates could hit four or even three percent again? Unfortunately, that doesn’t look likely, at least to Liz Ann Sonders, Chief Investment Strategist at Charles Schwab. While Liz spends most of her waking hours thinking about the stock market, she always has her finger on the overall economic pulse. Whether it be bond yields, mortgage rates, economic cycles, or banking crises, Liz Ann needs to know market moves in order to manage Charles Schwab’s $8 TRILLION in assets.

For most heavy real estate investors, the stock market is confusing at best and a game of chance at worst, but NOT knowing what’s happening in one of the largest investment markets in the world could be to your detriment. Since the stock market moves quicker and reacts to economic data at almost instant speed, real estate investors can get ahead by popping out of the property market we’re so preoccupied with.

In today’s episode, Liz Ann not only touches on the state of the stock market but why so many investors are acting out of pure emotion (and not logic), the effect rising bond yields will have on mortgage rates, why savvy investors refuse to “fight the fed,” and the “rolling recession” that could explain 2023’s constant economic hills and valleys.

In This Episode We Cover:

The “rolling recession” and why its economic effects won’t hit us all at once

Why mortgage rates won’t go back to 2021 levels EVEN when bond yields fall

The psychology of emotional investing and why most investors are forfeiting data when making decisions

New “bullish” signs from stock investors and what they’re investing in

Why waiting for a recession to invest could be a MASSIVE financial mistake

And So Much More!

Links from the Show

Join the Future of Real Estate Investing with Fundrise

Connect with Other Investors in the “On The Market” Forums

The Fed Just Got One More Reason to Hike Mortgage Rates

Is Now the Best Time to Get Into the Stock Market?

Connect with Liz:

Liz on Charles Schwab

Liz's Twitter/X

Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-134

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133: Where America’s Most Accurate Forecaster Sees Home Prices in 2024 w/Doug Duncan Aug 21, 2023

Show notes

Housing affordability has reached lows that most Americans never knew existed. After home prices had an unprecedented multi-year run-up and mortgage rates got hiked, the average home buyer was out of luck. They couldn’t afford a house, and even if they could, the chances of getting one were slim to none when no inventory existed. Many now hold on to a hope that affordability could be around the corner, but this isn’t looking likely, at least not according to the most accurate forecasters in the country.

Doug Duncan, SVP and Chief Economist at Fannie Mae doesn’t just do the standard housing market forecast models. His team at Fannie Mae has come up with the most accurate predictions of the housing market to date through a combination of judgment, market sentiment, and math. Today, Doug is on the show to give his data-backed take on home prices, mortgage rates, and the affordability crisis.

There is some good news for homeowners and not-so-good news for home buyers, but Doug brings some solid advice for those still struggling to buy a home, plus a forecast of when things could finally turn around. If you want to know whether a recession is still in the cards, what home prices will do, and when affordability will reach equilibrium, tune in!

In This Episode We Cover:

A 2024 home price forecast that most didn’t think was possible

Housing affordability and why we may not see relief for YEARS to come

Recession watch and whether or not we’re in the economic clear

Data modeling and why you CAN’T just rely on the math for your housing market predictions

Advice to first-time home buyers and what you MUST have before you try to buy

And So Much More!

Links from the Show

Join the Future of Real Estate Investing with Fundrise

Connect with Other Investors in the “On The Market” Forums

Grab Fannie Mae’s Forecast

Housing Market Affordability Has Crossed a Concerning Threshold in the U.S

Connect with Doug:

Fannie Mae

Doug's LinkedIn

Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-133

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132: Banks Cut Credit, Is The Housing Market “Recession” Really OVER? Aug 18, 2023

Show notes

The housing market “recession” is…over? At least, that’s what some economists think. But it doesn’t feel so stable for the rest of us real estate investors. Home prices are still dropping in some markets, teetering on stability in others, and hot as ever in growing areas. With mortgage rates rising and the Fed staying true to its word, how can we be so sure that home prices won’t begin to fall across the nation?

We’re back with another headline show where Dave Meyer, James Dainard, Jamil Damji, Kathy Fettke, and “the only investor in Arkansas,” Henry Washington, give their take on some of the hottest housing market stories of late. We talk about the NAR (National Association of REALTORS) declaring the “housing recession” to be (potentially) over, why banks are tightening credit and denying loans more than ever before (and how to still get funding), why lowball buyers are actually in the right, and the cities across the US most poised for growth.

With offers becoming harder and harder to get accepted, interest rates rising, lending on lockdown, and sellers still living in 2022, you MUST invest smarter to build wealth in today’s market. Thankfully, all our guests are doing just that and dropping some gems on beating the regular buyers by being smarter, faster, and picking up deals for less!

In This Episode We Cover:

The “housing recession” and why some economists think it may be over

Why investor buying activity remains high EVEN with rising mortgage rates

The commercial credit crunch and why banks are refusing to lend on specific assets

Five reasons you’re getting lowball offers and why buyers NEED to stay reasonable

The US cities most poised for growth and Henry’s secret city to invest in (it’s NOT in NW Arkansas!?)

And So Much More!

Links from the Show

Join the Future of Real Estate Investing with Fundrise

Connect with Other Investors in the “On The Market” Forums

Henry's BiggerPockets Profile

Henry's Instagram

Jamil's BiggerPockets Profile

Jamil's Instagram

Kathy's BiggerPockets Profile

Kathy's Instagram

Hear Our Episode with J Scott and Scott Trench

Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-132

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131: Home Prices May Have Bottomed Says New "Investor Sentiment Survey" w/Rick Sharga Aug 14, 2023

Show notes

Home prices were supposed to crash…right? Not quite. If you were hoping to snag a steal of a deal on your first home, we’ve got some bad news. But, if you’re a homeowner or investor who was crossing their fingers that their equity would stay stable, things are looking good! As the housing market begins to “adjust” back to normal, investors are asking themselves, “What happens next?”

We brought repeat guest and fan-favorite Rick Sharga, founder of CJ Patrick Company and former EVP of Market Intelligence at ATTOM, back on the show to share the findings of his most recent investor survey. Rick and his company have been tracking the sentiment of small retail investors—a dataset we rarely get to hear about—and he has some news to share.

Investors are thinking about the housing market differently than most would assume. With high mortgage rates and financing fatigue, rental property investors and active house flippers have the same thought: things could get better soon. But what could change? Will inventory ever rebound? And what could cause another hot housing market? All that, and more, in this episode!

In This Episode We Cover:

The one investment strategy that has been dramatically declining (and why it may have a comeback)

Home prices and whether or not we’ve bottomed out already

What small retail investors think will happen next in the housing market

The #1 challenge investors are facing today (and when this could improve)

An “inflection point” for real estate and whether competition will heat back up

Fixing the inventory problem and how long it will take to return to “normal” levels

Declining and rising real estate markets that Americans are moving away from/to

And So Much More!

Links from the Show

Join the Future of Real Estate Investing with Fundrise

Connect with Other Investors in the “On The Market” Forums

BiggerPockets Real Estate Podcast 604

On The Market Podcast 17

On The Market Podcast 66

Investor Sentiment Survey

Connect with Rick:

Rick’s LinkedIn

Rick’s Twitter

Rick's Website

Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-131

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130: The 4 Most Affordable, High Cash Flow Real Estate Markets of 2023 Aug 11, 2023

Show notes

Looking for a high-cash-flow real estate market? Well, you’ll need low home prices to make that happen. With mortgage rates still at multi-decade highs and affordability at forty-year lows, there isn’t much cash flow to around…unless you’re investing in one of these markets. And while “cheap” rarely means “good,” there are a few housing markets on this list that investors can feel safe parking their money in.

Unless you have a million dollars in the bank or already own a portfolio of beachfront homes in Hawaii, you’re probably looking for the best market to stretch your investing dollars. Thankfully, we’ve got just that as the On the Market panel covers the ten most affordable housing markets in the United States. We’ll get into the nitty-gritty of the top four and highlight which we’d invest in and steer clear from.

Some of these markets have huge manufacturing entering the area, prompting massive job growth that could surge home prices. But, with most unaware of this type of economic movement, investors like you can take advantage by getting into these affordable markets before they become boomtowns!

In This Episode We Cover:

The ten most affordable real estate markets across the country (and which we’d invest in)

Two markets that are about to experience massive job growth but STILL offer low prices

Cash flow vs. appreciation and which market to invest in if you want LONG-term wealth

Entering the “investor’s market” and why real estate investors have the upper hand in 2023

How to vet a rental property market and the metrics you MUST pay attention to before you buy

And So Much More!

Links from the Show

Join the Future of Real Estate Investing with Fundrise

Connect with Other Investors in the “On The Market” Forums

Henry's BiggerPockets Profile

Henry's Instagram

Jamil's BiggerPockets Profile

Jamil's Instagram

Kathy's BiggerPockets Profile

Kathy's Instagram

10 Most Affordable Markets List

2022’s Most Affordable Housing Markets

Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-130

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129: Why “Lazy” Investors Won't Make It in 2023’s Housing Market w/Avery Carl and David Greene Aug 07, 2023

Show notes

The housing market has dealt a tough hand to real estate investors as of late. Prices are staying the same, but mortgage rates are rising, rents have peaked, and so-called “easy” investments have been increasingly difficult to manage. The “lazy” investors who bought simple short-term rentals are now sitting with empty units, and BRRRRers that never adjusted their strategy are stuck with standard houses producing bleak returns. What’s the right move to make when investing is harder than ever before?

We wanted to know what’s REALLY happening in the housing market. So we brought on short-term rental expert Avery Carl, father of the BRRRR method David Greene, and luxury flipper James Dainard, to get their opinions on what’s working, what isn’t, and what investors should do now. Surprisingly, all these experts agree that ONE type of investing is the best way to go, and it’s such an obvious choice that you may miss it.

But, before this real estate investing strategy smackdown begins, we’ll get to know the current states of short-term rentals, flipping, and BRRRRing, plus which strategies are making money and which are falling flat. This is a new housing market; if you want to make it, you can’t play by the same rules.

In This Episode We Cover:

The ONE investing strategy ANY investor can use to make more money in 2023

The short-term rental slowdown and why basic hosts are in trouble

Flipping houses and the almost unbelievable returns you could be making in today’s market

Why “lazy” investors are about to get crushed (and what they can do about it)

BRRRR blunders and why this strategy may have to be put on ice until rates drop

Avoiding the “turnkey trap” that’ll tie you to a boring house, making bleak returns

And So Much More!

Links from the Show

Join the Future of Real Estate Investing with Fundrise

Connect with Other Investors in the “On The Market” Forums

Avery's BiggerPockets Profile

Book Mentioned in the Show

BRRRR by David Greene

The Book on Flipping Houses by J Scott

Short-Term Rental, Long-Term Wealth by Avery Carl

Connect with Dave and Avery:

Avery's Instagram

Avery's Website

David's BiggerPockets Profile

David's Instagram

David's Website

Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-129

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128: The Worst Real Estate Investing Advice of 2023 Aug 04, 2023

Show notes

Real estate investing advice is everywhere, especially from people who don’t invest. You’ve seen the financial influencers screaming, “Don’t buy!” or “Wait for the crash!” often while doing a little dance or pointing to some cherry-picked statistics. While this amateur advice rarely gets considered by investing experts, those who are just getting started are susceptible to following this dumpster fire of investing guidance and will end up losing money as a result. But don’t worry; we’ve brought the antidote to this horrible advice.

We got the entire On the Market panel together to give their favorite pieces of lousy investing advice and what to do instead so you can ACTUALLY build wealth. From waiting for the crash to only buying foreclosures to purchasing a property way over your budget, this real estate investing advice is some of the worst, if not most hilarious, we’ve seen in a long time. And with the economy on the edge of a recession, now is NOT the time to take money tips from twenty-two-year-olds on the internet.

For every piece of bad advice we get, we’ll give you our personal, time-tested advice on what we’d do in today’s housing market. Some of this expert advice may shock you since it goes against what everyday investors have been told. But, if you follow it, you could be building wealth like our multi-millionaire guests!

In This Episode We Cover:

The one “risky” real estate strategy that has made our guests millions

Who should (and definitely shouldn’t) become a real estate agent

“Buying the dip” and why getting in at the bottom isn’t always a bright idea

Discounted deals vs. buying at retail value and which markets require which strategy

The dangerous bet you’re making when buying during high mortgage rates

Investing in new construction homes and the one scenario where you MUST avoid doing so

And So Much More!

Links from the Show

Join the Future of Real Estate Investing with Fundrise

Connect with Other Investors in the “On The Market” Forums