Broadway Advisors

03/23/2023

Remember Supply & Demand from High School Econ?

From Stacie Rihl:

Home prices will drop WHEN...
inventory increases.

When will INVENTORY increase? Let's look at where it's at now:

70% of current homeowners have an interest rate below 4% - they don't want a higher rate so they're not selling (ATTOM data).

Right now, there at around 577,000 homes for sale in the US.

Just to give you an idea of what's normal, there were 1.1 MILLION homes for sale in March 2019.

That means were over half a million homes short from a normal market - it's going to take a LONGGGG time to recover from that.

There are 72.1 million millennials - who are now between the ages of 23-41. The average age of a first-time buyer is 36 (Pew research & NAR).

This means we have A LOT more millennials who will be entering the market over the next few years.

I don't have a crystal ball. I can't predict the future or what will happen with the market.
But the data is clear that until inventory increases, prices aren't dropping.

If you have any ambition of owning a home one day, let's get started now. It's easy if you're prepared!

01/20/2023

Don't let rate be the only thing that keeps you from buying.

Your purchasing power may be a little less now, but it's still a great time to stop paying rent and start building equity.

DM and we can chat out details and connect you with the right people.

12/13/2022

Right now is still the best time to buy a house for many reasons.

Let's say your plan is to wait 2 years for rates to improve. During that time you'll miss out on home price appreciation. In Indiana prices rose by 17.5% on average from 2020-2021. On a $200,000 house that's $35,000 per year. Add in tax breaks and equity from payments and buying a home is a no-brainer. You could be leaving $100,000 on the table compared to renting.

Yes, rates are higher than they were 2020-2021, but they will go back down and you can refinance.

You also don't need much of a down payment or in some cases any down payment at all.

Check out this home buying 101 seminar from my girl Stacie Rihl and follow her on social media.

As always, if you need help getting prequalified or finding a truly trustworthy agent, send me a message.

"I didn’t know where to start with the home buying process and Stacie’s class was such a great start! I got so much useful information and it gave me the confidence I needed to start looking into loans and looking at houses/condos! I will be closing on a condo next month!"

11/01/2022

If you're going to buy a home in 2023 it's best to start planning now!

Check out this home buying seminar online tomorrow with my girl Stacie Rihl and follow her on social media for daily tips and encouragement!

09/21/2022

Struggle with saving?

Is investing like a foreign language?

I was skeptical of Acorns at first but it's actually been such a great tool for some of my clients starting out.

Most commonly I suggest you set up a weekly investment so you never even notice it coming out. They have tons of options though including rounding transactions AND just answer a few questions and they choose the investment portfolio for you so there is no pressure.

If you have questions let's talk. The most important thing with saving is that you start asap.

Acorns helps you save & invest. Invest spare change, bank smarter, earn bonus investments, and more! Get started.

05/18/2022

This morning one of my partner realtors mentioned that rates are projected to go as high as 9% by the end of 2023.

In other words, the clock is ticking.

Most of my clients come to me with poor credit and they all say they feel trapped or even embarrassed.

So, the first step to repairing your credit is understanding it. At ACR you can pull your credit report once a year for free. This site is sponsored by the three bureaus but they do offer monitoring services etc for a fee. You don't need to sign up for anything.

At the top of your report are your bad debt accounts. They will have contact info for the agency or business that owns the debt and show an amount.

Call them. Today. Negotiate a payment plan or payoff and get it off your report.

It takes a while for your scores to improve so don't wait any longer. If you need help, ask.

After that we can focus on your mortgage options.

ACR Home Page

03/18/2022

In this environment, you probably don't need a down payment.

Let's say you do want to save 20%. On a $150,000 home that's $30,000. How long is that going to take you to save?

Home values are rising by 10%+ per year in many areas of Indianapolis. Every month you wait you're missing out on equity and running the very real risk of rates pricing you out of your dream home.

Jennifer Payne is a trusted friend and past coworker of mine who can help you find the right program for you.

If you're thinking about buying a home, the first step is talking to a mortgage officer to get pre qualified.

Call Jennifer today.

02/04/2022

The era of cheap money and grants is behind us as the Fed looks to begin raising rates next month in an effort to stifle rampant inflation.

If you're looking for business capital or to purchase a home, now may be your last chance to get in on Covid era rates.

If you need help, let's talk.

01/26/2022

Marion County is still relatively affordable despite what prices have done in the last few years.

We have expert realtors, bankers, and advice to help you find the right place for you.

01/19/2022

The new year always brings new business entities as we resolve to do better for ourselves.

Before you head to the bank you're going to need some state and federal documents. Which ones you'll need depends on your business.

I've personally helped thousands of business owners take these first steps over the past 15 years.

Ready to get started? DM or set an appointment on the website.

11/13/2021

Paying off your mortgage sounds like a dream, but with rates at historic lows it may actually cost you.

The average return for a low cost S&P Index fund over the past ten years is 13.6%.

The current 30 year fixed rate mortgage is (conveniently for this example) about 3.6%.

This means paying off your mortgage over investing in the market has an opportunity cost of 10%.

Obviously past performance does not indicate future results, but at the very least consider investing in the market before paying off your home in this environment.

Need help? Let's talk!

The average stock market return isn't always what the typical investor will earn — it can change based on your investments and how long you keep them.

09/22/2021

Supply chain and labor shortages continue to plague new home building. The shortage is partially to blame for the rising prices in the market but there are so many economic factors affecting prices.

Almost invariably it's better to own than to rent in Indianapolis. Let's chat and get you ready to make the leap.

The home buying process is a long journey, don't wait to get started. Every month you delay is money lost to landlords.