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☆ 3 ways real-estate investors can sidestep high mortgage rates when buying a new rental property, according to BiggerPockets' housing market expert
  + stars: | 2024-02-02 | by ( William Edwards | ) www.businessinsider.com   time to read: +3 min
While 30-year mortgage rates have come down by more than a full percent to around 6.6%, they're still significantly more elevated than their 2021 low of less than 3%. Lower mortgage rates mean higher cash flows and a higher likelihood for appreciation, which is good for strategies like flipping. But there are ways for real-estate investors to get around higher rates, Meyer says. This means asking the seller if they can provide a cash payment that effectively lowers mortgage rates for the first few years of ownership. Given that rising mortgage rates have largely killed demand in the housing market, buyers have had more success recently getting deal-sweeteners like rate-buydowns, according to research from Redfin.
Persons: they're, Dave Meyer —, —, Molly Grace, Meyer, Welborn Organizations: Business
☆ Real-estate investing in a down market: Strategies to use, how far home prices will fall, cities where prices are falling the most, which markets to invest in, and more
  + stars: | 2023-02-09 | by ( William Edwards | ) www.businessinsider.com   time to read: +6 min
That's bad news for current real-estate investors, and probably good news for prospective ones. On the other hand, it's potentially good news for prospective real-estate investors who have been sitting on the sidelines waiting for better deals. Below is a list of Insider stories to help navigate the current real-estate investing landscape as prices fall. They see US home prices falling another 6% in 2023, putting peak-to-trough declines at around 10%. Justin Sullivan / Getty ImagesOne of the most common financing strategies real-estate investors use to build up a portfolio is the BRRRR method: buy, rehab, rent, refinance, repeat.
☆ Biologists found 5 new species of snakes and Leonardo DiCaprio named one that produces a 'musky and distasteful odor' after his mom
  + stars: | 2023-02-08 | by ( Hannah Getahun | ) www.businessinsider.com   time to read: +4 min
One of the snakes was named by actor Leonardo DiCaprio in honor of his mother, Irmelin Indenbirken. The snakes are being threatened by mining operations in the country, scientists noted. Biologist Alejandro Arteaga examining a preserved snail-eating snake in a museum Jorge CastilloOf the five species, one — a red-orange snake with large, glowing orange eyes — is called DiCaprio's snail-eating snake. "When threatened, individuals may hide the head among body coils and produce a musky and distasteful odor," the study read. Alejandro ArteagaThe four other snakes include the canopy snail-eating snake, Marley's snail-eating snake — named after the daughter of billionaire Brian Sheth — as well as Vieira's snail-eating snake, and Welborn's snail-eating snake.
☆ 16 cities where homebuyers are getting the most deal sweeteners and concessions from sellers as mortgage rates kill competition, according to Redfin
  + stars: | 2023-01-10 | by ( William Edwards | ) www.businessinsider.com   time to read: +3 min
Homebuyers are gaining back negotiating power as high mortgage rates slows demand. According to Redfin, sellers are offering concessions to buyers at the highest rate since 2020. High mortgage rates have killed affordability and therefore demand, so home prices are starting to come down. But in addition to falling prices, homebuyers are benefitting from extra deal sweeteners as they look to take advantage of reduced competition, according to real-estate brokerage Redfin. RedfinSellers have had to navigate an environment where mortgage rates have more than doubled in the last year, from around 3% to at times over 7%.
☆ Desperate home sellers are basically paying buyers to purchase their homes
  + stars: | 2023-01-07 | by ( Alcynna Lloyd | ) www.businessinsider.com   time to read: +4 min
Sellers gave concessions in a record 42% of home sales at the end of 2022, Redfin found. Sellers are more likely to negotiate to offload their properties to the few buyers still out there. It's making some home sellers so desperate they're offering buyers cash to purchase their properties. And in a stark contrast to the housing market of 2020, sellers are losing their grip on the US real estate market — it's costing them big. "Buyers are asking sellers for things that were unheard of during the past few years," Van Welborn, a Redfin real estate agent from Phoenix, said in the report.
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