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🚀 North Carolina's Real Estate Frenzy

🚀 North Carolina's Real Estate Frenzy

A Rush Like No Other!

The Broker Journal Team
January 08, 2024

Hello Realty Renegades! welcome to this week’s issue of The Broker’s Brief, Elevating Your Real Estate IQ to New Heights! Hoping this week will be a money-making week for you!

IN THIS WEEK’S BRIEF:

Free: This week’s freebie 🆓
Trends: Average Rates this Week for North Carolina 📊
Tax Talk: The Hidden Tax Bomb in Real Estate Flipping💣
News: Real Estate’s Latest Insights 📰☕
Fresh: 2024 Tech Tip for Realtors: The Power of Video Marketing🎥
The Puzzle Place 🧩
Fun: Real Estate Meme of the Week 😉

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Average Rates this Week for North Carolina 📊

Accurate as of 01/05/2024.

The Hidden Tax Bomb in Real Estate Flipping💣

Real Estate’s Latest Insights 📰☕

🌳 Big Buy in Bolivia: Real Estate Firm Acquires 187 Acres with 457 Lots!

🔄 Change at the Helm: Cape Fear Realtors Seek New CEO After Departure

🌊 $17.5M Deal to Preserve Waterfront Gem: New Owners' Big Plans

🏡 Full House at Eden Village: Rentals Hit 100% Occupancy!

📉 Home Sales Cool, But Prices Hold Steady, Say Realtors

🏘️ D.R. Horton's Knightdale Buzz: 500 Homes Starting at $200K

📈 2024 Outlook: Slight Easing in Mortgage Rates & Housing Inventory

🚀 North Carolina's Real Estate Frenzy: A Rush Like No Other!

🛡️ Mecklenburg's Plan to Combat ‘Corporate Vultures’ in Housing

🔍 Understanding the Fair Credit Reporting Act (FCRA) Simplified

🎥💼 2024 Tech Tip for Realtors: Unleash the Power of Video Marketing

Hey there, real estate gurus! As we leap into 2024, let's talk about a game-changer in your marketing toolkit – video. Why is video the secret sauce, you ask? Well, Brafton, a maestro in content marketing, highlights that videos are like an easy button for users – simple to click, watch, and absorb information, especially those bite-sized gems. So, as you sketch out your 2024 outreach blueprint, remember to give video the spotlight it deserves.

Brafton's Inside Scoop on Video Marketing

Brafton isn’t just another content marketing firm. They're in the business of making businesses shine through stellar content strategies and solutions. They believe that embracing video in 2024 is not just a nice-to-have; it’s a must-do for staying ahead in the competitive real estate arena. Let's dig into why they're bullish on video marketing for real estate pros:

Videos: The Engagement Magnets 🧲

Think of videos as the cherry on top of your content sundae. When nestled into your content mix, they don’t just add flavor; they make your entire strategy more appetizing. A captivating video can boost how much time users spend with your brand and up the odds of them doing what you want them to do – like, say, booking a property viewing!

Up Your SEO Game with Video 🌐

Google and its search engine pals love user engagement. It’s one of their go-to metrics for deciding who gets the top spot on search pages. More engaging videos? Higher search rankings. Higher rankings? More organic traffic to your website. It's a win-win!

Conversions? Videos Get the Job Done ✅

For users to hit that 'subscribe' button or download your latest market report, they need to stick around long enough on your site. Engaging videos are like the friendly tour guides of your website, leading visitors towards those key actions.

ROI Through the Roof 🚀

Embed videos into your content, and watch your engagement metrics soar while keeping your marketing budget in check. More bang for your buck means you can invest those saved dollars into other areas, like perhaps a snazzy virtual tour setup!

The Video Marketing Guru Speaks: Ankit Vora 🎤

Ankit Vora, a seasoned B2B SaaS writer, puts it simply: "If you're online, you've seen the power of videos." They're everywhere – social media, emails, e-commerce platforms. And when done right, video marketing can skyrocket your brand's visibility, engagement, and conversion rates.

One secret ingredient? Emotion. While many brands are busy pushing products with polished, but emotionless videos, you have the opportunity to stand out. Create videos that touch hearts and forge a personal connection with your audience.

In a Nutshell

As we march into 2024, remember: video isn’t just a trend; it’s the trend in real estate marketing. Whether it’s a heartfelt testimonial, a snappy virtual tour, or an informative market analysis, videos can elevate your brand in ways no other content can. So, grab your camera, and let’s make some movie magic! 🎬🏡

🏠📈 New Home Mortgage Applications See a Hearty 21.8% Jump!

Hello there, real estate enthusiasts and market mavens! Let's dive into some intriguing news from the Mortgage Bankers Association (MBA) that's making waves in the real estate world. In the lovely month of November, a surprising and rather impressive 21.8% year-over-year increase in mortgage applications for new home purchases was recorded. This jump is a ray of sunshine, especially considering that applications dipped by 12% compared to October 2023.

Now, let's talk numbers: MBA's crystal ball estimated that new single-family home sales hit a seasonally adjusted annual rate of 677,000 units in November. Sure, this is a slight step down (5.3%, to be exact) from the lively pace of 715,000 units in October, but hey, it's still quite a hustle and bustle in the market! And if we skip the adjustments and look at the raw numbers, we’re talking about 49,000 new homes finding their match in November, even though this is a 10.9% dip from October's love story of 55,000 new home sales.

Interestingly, the average loan size for these shiny new homes took a tiny step back, from $390,225 in October to a still rather grand $390,049 in November.

Here’s a fun fact: When we peek into the types of loans people are choosing, conventional loans are strutting their stuff with 62.8% of the applications. FHA loans are not too far behind, grabbing a 27.1% slice of the pie, while VA loans chime in at 9.7%, and RHS/USDA loans are just peeking in at 0.3%.

Mike Fratantoni, MBA's senior VP and chief economist, shares some wisdom. He notes, “Lending on new construction has been the standout performer in an otherwise mellow year for purchase originations.” The trend keeps up its pace in November, with applications for new homes leaping up 22% compared to last year. This is quite the hustle, especially when the overall purchase market is lagging about 20% behind last year’s rhythm.

What’s more intriguing? A growing chunk of this demand for new homes is being met by FHA loans – a clear sign that first-time buyers are still playing a major role in the market. Good news for future homebuyers: Fratantoni forecasts that lower rates are likely to keep this demand buoyant as we spring into the homebuying season.

So, there you have it, folks! Whether you’re a first-time homebuyer, a seasoned investor, or just a curious cat in the real estate world, these trends and numbers in the new home mortgage market are definitely something to keep an eye on. Here's to riding the wave of demand and stepping into a hopeful spring buying season! 🌼🏡