Ep 36: Real Estate Q&A with Michael Citron and Tina Huynh

Here are the best ways I can help you as an Investor:

Investor Network Access

• Run the numbers like a pro of any property.
• Access Insider Events, ONLY for members.
• Network with other investors.
• Create joint venture partnerships.
• Get direct access to a team of experts.
• Get preferred interest rates on mortgages & lending products.
• Ask questions and get answers for any investing challenges you have.

Book A FREE Strategy Call With My Team

• Discover the financing options available to you.
• Create the proper financing structure for success.
• Get your portfolio reviewed and identify weak properties and ares to access equity.

Show Summary:

In this episode of the Wisdom Lifestyle Money Show, host Scott Dillingham interviews two guests: Michael Citron, a mortgage agent, and Tina, a local real estate agent. They discuss various topics related to the real estate market. Michael predicts that the interest rates will rise between 5.2% to 5.7% with two more increases expected by the end of 2022. However, he doesn't believe the market will crash, but rather slow down temporarily. He expects a maximum price decrease of around 20% before the market bounces back due to high demand and limited supply.

When asked about selling properties, Michael suggests that sellers should consider waiting as the market will likely rebound. However, if they're determined to sell immediately, they should take advantage of the current market conditions. Regarding mortgages, Michael advises homeowners with variable rates to consider their future plans. If they intend to refinance and withdraw money, they should do it before switching to a fixed rate to avoid higher penalty payments. For new mortgage seekers, Michael recommends a three-year fixed term or a variable rate, considering that rates may decrease in the next few years.

Tina mentions that the real estate market has become less active lately, requiring more effort and creativity to attract potential buyers. Some clients have become cautious, waiting for prices to drop further. However, Tina emphasizes that waiting too long may lead to missed opportunities and potential market upturns. She also highlights the importance of seizing opportunities in real estate, as historical trends show long-term price increases. The conversation concludes with a discussion on how the market has changed, with Tina explaining the need for increased marketing efforts and addressing clients' concerns during uncertain times.