Byron Lazine and Tom Toole discuss the latest FOMC meeting minutes, rising mortgage rates and falling inventory (again), the housing market’s loss of $2.3 trillion in home values, Fannie Mae’s revised forecast for 2023, and the best business plan for real estate agents in 2023.
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Timestamps:
00:00–00:52 Intro
00:52 FOMC meeting minutes
02:55 A bumpy road for the housing market–with downward pressure on home prices
08:34 The data suggests the best time to be a home seller is Q1
09:02 The data also suggests Q4 as the best time to be a home buyer
18:41 A script every agent should use and why
21:51 No one ever moves to time the market.
23:38 Redfin’s report on home value loss of $2.3 trillion
27:04 Fannie Mae revised forecast for 2023
29:09 Business plan for 2023: Spend 80% of your time having conversations
32:15 How do you do this: Hire a virtual assistant!
Show Resources:
https://www.federalreserve.gov/monetarypolicy/files/fomcminutes20230201.pdf
https://www.housingwire.com/articles/housing-market-tracker-mortgage-rates-spike-as-inventory-falls/
https://fortune.com/2023/02/22/housing-market-correction-home-prices-decline-real-estate-2-3-trillion-dollars/
https://www.inman.com/2023/02/22/modest-recession-could-put-a-lid-on-2023-home-sales-fannie-mae/
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Connect with Byron Lazine: https://www.instagram.com/byronlazine
Connect with Tom Toole: https://www.instagram.com/tomtoole3rd/
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