CJ Patrick Company

09/30/2024

Rent or buy?

That's a decision many households are thinking about these days, as rates have declined by more than a full point from their recent highs, and home price appreciation has begun to slow down.

In most of the country, monthly rental payments are lower than monthly mortgage payments, but there are other considerations as well, and sometimes the long-term value of trumps the short-term savings in monthly payments.

Nice article here from Veronica Dagher at The Wall Street Journal on this subject.

Rents remain high, but not as high as mortgage payments.

09/20/2024

So...will the Fed's first rate cut in two years mean a dramatic decline in rates and an immediate surge in ?

Umm...probably not. But it's a good start.

Delighted to be included in this great article on that subject in USA TODAY by Andrea Riquier. Worth a read!

Lower borrowing costs will benefit the entire housing market, not just those applying for a mortgage right now.

09/18/2024

Very excited to be judging again this year for the SFR Industry Awards, which will be announced at a gala celebration on December 2nd in Scottsdale, AZ. The winners over the past two years have been a "who's who" of industry all stars, showcasing their innovation, commitment, determination, and success as the industry has continued to grow.

Ready to throw your hat into the ring? There are more award categories than ever this year, and I'm looking forward to being blown away (again) by the caliber of the competitors.

Submit your application here (and use the discount code below): https://www.cvent.com/c/abstracts/ccd9bf31-184c-4a61-9831-3043be5675fc

09/17/2024

There's a famous old quote you might be familiar with: "Everyone always talks about the weather, but no one ever does anything about it."

With extreme weather events on the rise, it's time for everyone in the hashtag industry - lenders, servicers, asset managers, field services providers, and property preservation firms - to start doing something about it, by more actively monitoring, measuring, and managing the impact weather and climate disasters are having on their portfolios.

Join me and my friends from Verisk There's a famous old quote you might be familiar with: "Everyone always talks about the weather, but no one ever does anything about it."

With extreme weather events on the rise, it's time for everyone in the hashtag industry - lenders, servicers, asset managers, field services providers, and property preservation firms - to start doing something about it, by more actively monitoring, measuring, and managing the impact weather and climate disasters are having on their portfolios.

Join me and my friends from Verisk as we take a look at what weather models are predicting in the years ahead, and how you can leverage technology to prepare for weather disasters, quickly and accurately assess damages, and affect repairs in a way that minimizes losses and helps protect ROI.

Register here: as we take a look at what weather models are predicting in the years ahead, and how you can leverage technology to prepare for weather disasters, quickly and accurately assess damages, and affect repairs in a way that minimizes losses and helps protect ROI.

Register here: https://register.gotowebinar.com/register/2075827816939140700

09/10/2024

Well, after one of the longest, deepest yield curve inversions we've ever seen, yields have finally reverted back to something approaching "normal." Have you felt the immediate shift in the economy? 😉

For what it's worth, if the gap between yields on the 10-Year Treasury and 30-year fixed-rate was back at its normal level, we'd see mortgage rates between 5.2% and 5.6%. So there's reason to believe that rates will continue to decline once the market is done pricing in the uncertainty and volatility that have helped inflate mortgage rates.

08/30/2024

If you're a leader in the single-family rental market, make sure you don't miss the deadline to compete in this year's 3rd Annual SFR Industry Awards at the IMN Single Family Rental Forum in Scottsdale, AZ. The deadline for submissions is Friday, September 6th.

I've been honored to be one of the judges, and the event co-host for the past two years, and can tell you that the caliber of individuals and companies vying for these awards has been spectacular. Last year's event was epic, and this one promises to be even better, with 39 awards across six different categories.

Get the recognition you deserve from your peers! Register today at the link below.
https://www.cvent.com/c/abstracts/ccd9bf31-184c-4a61-9831-3043be5675fc

08/20/2024

How bad is affordability today? As bad as its been in decades. The combination of soaring prices and rates that doubled in 2022 has left most - especially first-time buyers - trying to figure out how they can afford to buy a almost anywhere in the country.

How bad is affordability, are there any short-term fixes, and when might it start to get a little better? Join us for an AREAA - Asian Real Estate Association of America webinar on Thursday, August 22 at 10:30 Pacific Time when we'll cover this issue in detail.

Register here: https://areaa.org/event/webinar-housing-affordability

07/16/2024

Looking forward to this Verisk webinar on Thursday, where we'll be reviewing the results of the Q1 2024 Verisk Remodel Index - an in-depth look at the rising cost of repairs across the country.

What are the implications for and ? What do investors need to know, and how do they factor these rising costs into their acquisition and operating plans?

Join me and subject matter experts Greg Pyne and Lima One Capital's Nathan Trunfio as we discuss this important information. Register here: https://register.gotowebinar.com/register/3868724461343677527

07/08/2024

Delighted to be included in this terrific Yahoo Finance article by Michele Lerner about all the reasons that the market is unlikely to see the kind of price crash that people are hyping on YouTube (and they'll let you in on their top secret reasons for predicting a crash if you sign up for their services for a few thousand dollars 😑).

Equally delighted to see that several folks I have a lot of respect for - Selma Hepp, Lawrence Yun, and Orphe Divounguy - view the market very similarly to the way I do. Market dynamics simply don't point to a price crash anytime in the near future, absent some sort of economic cataclysm.

The current housing market is different from the one that led to the 2008 housing crash. Here's a look at 2024 and 2025.

06/04/2024

Great conversation on the challenges facing young adult homebuyers today with Connell McShane on NewsNation Now. Affordability is a challenge for most prospective homebuyers, but particularly problematic for first-time buyers, who don't have a ton of equity to use for a down payment.

According to some recent research, this is becoming a major election issue...even though there's a limit to what the Federal Government can do.

https://www.newsnationnow.com/video/housing-affordability-is-a-top-voting-issue-for-gen-z-newsnation-now/9754993/

03/29/2024

. . . Severe .

Extreme weather events are on the rise across the country, causing billions of dollars in commercial and residential property damage. rates are soaring, and insurance companies are pulling out of some of the hardest-hit areas.

What are the implications for , local governments, companies, and other real estate professionals in the near term, and what can we do collectively to survive and thrive in this changing ecosystem? Join us as we discuss one of the most urgent and important issues facing the real estate industry - and attempt to chart a course for the future.

Discount hotel room block closes on Monday, April 1st, so register today!

03/26/2024

What sort of impact are extreme weather events having on the , the market, and the industry? And what's the prognosis for the future?

None better suited to answer these questions than some of the best economists in the business: Doug Duncan from Fannie Mae, Michael Fratantoni from the Mortgage Bankers Association, Selma Hepp from CoreLogic, and Sam Khater from Freddie Mac.

These are just four examples of the amazing line up of speakers you'll see if you join us at this incredibly important industry event. Let me know if you'd like an invitation to attend, or visit www.americatalyst.com for more information.