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Get Creative with Pace Morby
New Opportunities in Real Estate Due to Lowered Interest Rates
Aug 14, 2024
Pace Morby, a savvy expert in real estate and creative financing, dives into the implications of recent interest rate cuts. He highlights innovative strategies for investors, emphasizing the power of community connections to secure deals. Morby shares insights on obtaining favorable mortgage terms directly from sellers and adapting to market changes. He dispels myths about an imminent real estate crash, stressing the importance of understanding market dynamics for wealth creation. Listeners gain valuable strategies to navigate the evolving landscape of real estate investing.
52:22
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Quick takeaways
- The Federal Reserve's interest rate cuts may lead to minimal savings for homeowners, necessitating a focus on creative financing strategies for investors.
- As interest rates decline, real estate values are expected to surge, emphasizing the importance of timely property acquisition and market adaptability.
Deep dives
Impact of Interest Rate Decisions
The Federal Reserve's decision to keep interest rates steady, with a projected decrease of a quarter point in September, is expected to influence the housing market. While such a reduction may seem beneficial, it translates to only minimal savings for homeowners—roughly $70 less in monthly payments when moving from a 7.5% to a 7.25% interest rate. This marginal change highlights the limitations of rate cuts on overall affordability, especially given the current average purchase price of homes, which stands at $431,000. Thus, the immediate impact of the Fed's actions on individual borrowers may not be as significant as anticipated.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode