Yeah,
yeah.
Mhm.
Ah, yes. Good afternoon, everyone. Welcome to your future home.
Presented by Rocket Mortgage.
Your future home is a real estate show focused on news trends and, most importantly,
your future home.
And we need a home loan that works for you. Well, Rocket can. I'm Baker Machado
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while Rocket mortgage is the presenting sponsor of this show,
the opinion statements and other thoughts
expressed in the following segments there.
Baker and mine. Yes. And by the way, we have a lot of thoughts on this show.
But guys,
thanks so much for joining us coming up today
on this special edition of your future home,
we'll talk about what you need to know if your New
Year's Resolution Asia just to buy a house next year.
Yeah, Plus, I still need to make your home more festive before the holidays.
We have some last minute advice and a little bit later on,
we'll get onto all the tips and tricks that you need
to keep your heat and your electric bills down this winter.
Yeah, but first,
here are some of the real estate stories we're following for you all today.
Yeah, So, guys, if you're waiting for the housing market to cool off before,
maybe you buy a home, you might be waiting a while longer.
Housing starts and building permits in the month of
November rose more than expected from the October levels.
That's all, according to a new government report that came out on Thursday.
Now this indicates people are still eager to buy new homes,
especially since the pandemic is still a huge concern.
Now a surgeon housing stocks another indication that
the real estate market is still really hot
right now. Homebuilders Lennar, Toll Brothers and D. R.
Horton all trading near record highs and housing prices are still skyrocketing.
Also, according to real estate brokerage Redfin,
the median home sale price of a home in December the 12th,
was up 14% from just a year ago.
Redfin also is saying the average home is selling above
its list price for the 39th week in a row.
Redfin is basically saying here that the average house is now about $359,750
so as I mentioned 14% for about a year or so ago,
the other thing that's sort of interesting.
Here is what happens with interest rates because interest
rates right now are at near record lows.
But the Fed this week indicated that there might
be up to three interest rate hikes next year,
which obviously then impacts bond yields,
which then impacts mortgage rates as a result.
So this might be one of the reasons why, for the next couple months,
we might continue to see a huge acceleration of people buying houses before,
maybe people started to cool off if interest rates go up a little bit.
Yeah, Baker, so many good points there.
And I think,
another driving force behind this continued heat in
the real estate market covid covid fears.
Really,
because we know with covid so many people moved out of the really urban areas,
the big cities and moved into more suburban areas kind of dispersed
across the US and I think that's only going to continue.
We've been having a lot of conversations here on
Cheddar with analysts who say that work from home and
hybrid work could be permanently cemented into the work life
balance that you have come to know and love,
and I think people think a lot about where
they're situated in their home during this time.
So covid, another big driving force.
Also, the Fed announcement that you mentioned and the concerns around inflation.
So,
yeah, price is not going down any time soon.
And also if this hot housing market has you worried, you are not alone.
According to a recent LendingTree survey,
nearly half of Americans fear unaffordable housing costs.
Jen's ears are the most concerned group when it comes to
being worried about their ability to pay rent or mortgage.
During the past month, followed by millennials,
30% of people have taken on a side hustle or second job.
In order to afford monthly housing costs.
Nearly 70% of consumers have had to make sacrifices to pay their rent or mortgage,
like skipping out on a vacation,
staying in a bad job and even cutting back on grocery purchases.
It's really intense out there, Baker and again I think this just
fuels that sentiment that if you're going to be paying so much towards your housing,
you'd rather it be toward your mortgage something that you actually own.
So while millennials have been known to move a little bit
slower when it comes to being a first time buyer.
I think there's still a lot of this really big push.
Okay, if I'm gonna spend this money,
I hope that I'm making an investment and have a return on that money. Yeah, so true.
So let's talk about how high these numbers are.
37%, as you mentioned,
said that they would skip a vacation if it meant that they could save that money.
22% of people said that they stayed in the jobs that
they hate in an effort to basically get that down payment,
and another 20% said they're cutting back on grocery purchases as well.
So it just goes to show how everybody sort of piling and
and putting together any sort of money that they have left over
To basically get this to get this house that they're interested in
now is that despite these housing fears,
more first time home buyers are hoping to make the change from renting to owning
in the next year. 40% of aspiring first time buyers
said they're already researching those home values in their target neighborhood,
and 25% have been in contact with a real estate agent,
and another 15% have already been pre approved already for that mortgage.
That's all, according to realtor dot com.
Now 61% of first time buyers are on the hunt now for a home at or
below $350,000 which we told you is about the medium price right now for a house.
About a third of first time buyers check those listings every single day And
a quarter are willing to put in more than 20% down on that offer.
So what are some of the top priorities for those first time buyers?
Well, 35% are saying a large backyard is their top priority
that followed by a garage, an updated kitchen
And also a quiet location as well.
By the way, all of those I would take all of those as well.
But I do think it's really interesting that researching at
the minimum price $350,000 and that they're checking every day,
and the reason for that is we know these houses
are not staying on the market for very long.
I think the average time is less than a week now that houses are staying on the market,
so you have to check it every single day because if you don't act on it,
it's gonna be gone immediately.
Oh, definitely. It is a really competitive market right now.
And I think that number that you mentioned again,
61% 1st time buyers on the hunt for a home at or below that $350,000.
That's just gonna push. Kind of like what we just mentioned. More first time buyers,
potentially considering locations that they may not have pre pandemic looking to
move into areas that aren't as much of a big city.
Maybe not even close to big cities. Really?
Um, but just more suburban, even locations that maybe haven't been as popular,
especially given the situation that we're in, you can work remotely.
In many cases, some people haven't been in the office in,
like, a year and a half almost two years now.
Yeah, So, um,
I think it's just gonna change the makeup and the
demographic of the country and where everyone situated true.
And it's been a long year when life gets rough.
Even our pets need a break in a space to call their own short term rental company Verb
Oh says it's seen a 40% increase in demand
for pet friendly vacation homes on the platform.
So with a lot of Americans showing interest in their pets,
Verbal has launched vacation homes designed
for dogs.
These dog houses were designed for any four legged friend to live luxuriously and
the gram worthy homes while they feature balconies you can see on your screen.
Right now,
we have some of them swimming pools and
succulent gardens with five different home designs.
You can really choose a house that fits your pups vibes.
There's a beach cottage for your dog who loves to spend the summer
days by the shore playing catch in a mid century modern bungalow.
For any pup who loves to nap in style, I am obsessed with this paper.
I love this speech. One, Um,
I think again, another big trend that we saw during this pandemic.
So many people not only moving into houses moving away from big cities,
but also we know getting some pets,
adopting or purchasing their first dog from a breeder.
Hopefully, they were adopting not shopping.
Um, but really thinking about how they move forward with these pets.
And I know just within my own family.
Anecdotally, it's been a huge thing Like my sister's coming down
to meet my family in Southern California. Is she gonna bring her dog?
How are we gonna job for the place?
And I think so Many people looking to either staycation or vacation have to have
all of that in mind when they're planning
out their quality time with their families.
The pets are part of the family, so I love these different options. They are so cute.
I mean, a lot of our pets, probably because of the pandemic, need a vacation, too.
I know my dog would be the first one that we want to get
away from me and my husband and the best part of all of this.
It's not that expensive.
Only $100 for one of these dog houses, so that's a lot cheaper than a hotel room.
Yeah, it's a steal for luxury.
Probably cheaper than some of their flights to get where we're going. Oh, my gosh.
Okay, well,, a critical year for the American real estate market.
It ran hot all year, and coupled with the pandemic,
changed the way we think of a lot of things
when looking to buy a home and joining us now.
Rogers Healy, CEO and owner of the Rogers Healy Companies,
So good to have you on the show every week on this show.
For the past year, we've talked in some way about how hot the housing market has been.
We're just talking about it for the past segment.
So what's your assessment of the real estate market in 2021,
and which trends do you think are here to stay?
Sure. So, yeah, I think I lied by saying the numbers don't lie.
Everything that you guys were just talking about,
That's real.
Whether you're here in Dallas,
whether in California or whether you're in the middle of rural America,
we've seen an influx of buyers that we've never seen before.
Which leads me to my next point about the trends that are here in the states.
It's millennials
when you have millennials that are buying at record
paces that are kinda have that pent up aggression.
We're gonna have this trend for at least the next 10 years. So
it's unlike anything we've ever seen before.
And every cliche, the new normal, everything like that.
It's happened. And obviously covid just accelerated things.
So I think when that happens at this pace, you have to learn
to work at that pace where some real estate people,
some buyers and sellers can't keep up with it.
And because of that, they've kind of been a casualty of war.
So you know, there is no better time to do something that now.
And we've seen that happen at a at a pace that, unlike we've ever seen before.
Yeah, when you say 10 years and my palms literally sweat and I'm getting some foam oh,
so does it sound like buyers are not gonna be having any luck?
And most of the power is going to continue to be with sellers?
You know, it's all relative because I think that you know the problem now,
like you said, whether it's a dog, my wife and I have dogs or having our first child,
which were a statistic in ourselves.
We're growing. We need a bigger yard, we need more rooms.
That's just gonna happen in life is not going to slow down just because of
the economy, one way or the other.
But again, these millennials at a record pace or aging into their maturity,
Which means they're gonna save money to have enough money
to make a down payment on their first home,
Which again, back to this conversation,
it might shift where they're gonna go move to.
So
you know, some places I'm sure they're going to have the you know,
the bubble might burst a little bit,
but we don't have any signs of this of this slowing down anytime soon.
And last year,
what happened when you're standing outside of a house with 30 people
trying to get in to see it and only one wins?
That means there's 29 people
that probably renewed their lease,
which means those people are going to be ready to buy
This year. So, you know, these trends have changed their here here to stay.
And like I said, for 10 years, at least we have the millennials leading the way,
which means baby boomers are probably gonna downsize and sell.
But they want to go buy
an entry level home, which again there's a shortage of that as well.
We're in a city like Dallas
were almost 200,000 houses short.
So, you know, I look at the data and I digested very quickly,
and I realized that gives me job security.
Wow, interesting.
And we know we're heading into January a lot of
people making resolutions and one of the big ones,
maybe to buy a new home in 2022.
So what do you think people should have in consideration before they try to do that?
The mental preparation and realizing that, you know,
sometimes buying a house and owning a house is not necessarily fun.
But something we've gotten used to saying is that you know,
the deal right now is a deal that you get,
and I think that removing yourself from thinking
you're going to get X amount of percentage
off of the list price or maybe X amount of percentage off of a sale,
and I think just get realistic with it and
realize again people don't stay in a house forever.
For the most part, I think if you take
that mindset, it gives you the ability to go and build equity,
have home ownership but also like taking checking that off your list.
You don't have to go look at a house every single day,
gives you the mental ability to go and pursue other opportunities.
And I think that's what life's all about is
making your house your home and then go in pursuing things
that are way more fun than actually looking at houses.
So,
yeah, I think just getting prepared and having
money and having a real estate agent like like we are here
in DFW help you and guide you through the process because again,
it might not be an enjoyable one that you thought it was gonna be like on reality TV.
Yeah,
You also talked about the competition that
we're seeing in the housing search process.
How has the uncertainty really changed the experience of searching for
a new home from even just a few years ago?
And what do you think is going to come over?
Not just as a trend that we've been seeing over the past two years,
but really be kind of like a permanent way of
life when you go into the home buying process.
Yeah, I've kind of liked it.
It's made what I do business, and it's made it more professional.
And I think that, you know, I've always joked about it.
I don't walk into a house and say,
Here's your windows and your floor I talked about the numbers
and I think when you do that and you prepared from a
strategic and an execution standpoint,
it hopefully eliminates the influx of all these realtors that got
their license because they thought they were gonna get rich overnight.
And so for me, it's been a welcome change.
But I do think that the transactional versus the intimacy,
you know, it's kind of melding those two together,
which is going to find a way to to work long term.
But yeah,
it's brought some more business savviness into an
industry that historically doesn't really have it.
And so I've been excited to see the change.
But, you know, we have to be prepared,
and I think educating clients before they even go
step foot in the first property is in our
heart, and most people don't understand how to go and relay that message.
But we're learning
we're learning at a faster pace than we ever have before.
Rogers Hill is CEO and owner of the Rogers Healy companies.
Thank you so much for joining us here on the show
and coming up.
It's not too late to get your home ready to host for the holidays were going
over some of the last minute tips and tricks to succeed this holiday season up next
and your future homes back guys brought to you by rocket mortgage
Whether you want to buy a new home or refinance your current one
rocket can.
Now, when it comes to preparing your home for the holidays there, of course,
the basics add some decor.
Some lights set up the staple festive items
perhaps even move some furniture around all to
accommodate all the guests you're about to have.
But as every year, the month of December goes by really fast.
So that's why it's best to consider what you can do to get on top
of the holiday season and how to best prepare your home and your family guests.
Even if they're coming in the next week or so. Melanie Burly is joining us.
She's the general manager of the Spruce Melanie. Good to have you here.
Thanks so much for joining us.
So what are some ways to spruce up our holiday decor in the last week?
We have before Christmas here
say it's really smart to incorporate some natural elements,
and you can really just pop out into your backyard, grab some pine cones,
some acorns, some pieces of evergreen and scattered them around your table.
That makes for a lovely table scape.
You can also spray paint some shelled nuts,
metallic gold or silver and display those on your mantel.
And then I also love to recommend using candles wherever possible,
because little clusters of candles are really,
really joyful and warm and welcoming.
Absolutely.
I love all three of those, and also don't get the scented candles for that,
because that way you'll have the regular candles everywhere.
In terms of decoration. What should be the focal point of your home here?
I recommend focusing on the door because it is the
first thing your guests see as they enter your home,
and it's also the first thing you see every time you get back home, and the entryway,
as an extension of the door, is a good idea to focus on.
And then beyond that inside,
you'll want to focus on your mantle and your staircase as well.
Okay, so for the holidays, if you have people coming over,
you obviously want as much room as possible for all your family and your guests.
So how can you open up more space and a lot of
these communal areas for all the people that are coming over here?
I don't think Don't be afraid to move things around, right.
You do not need all of the furniture clustered together in the center of the room.
Put it on the outskirts.
And if it's an option,
swap out more maximalist items for minimalist things in other rooms.
If you know people are going to gather in certain areas,
pay attention to those areas and ensure that there's space to walk about.
So, Melanie, what do you determine? When do you determine and when do you do it?
What winter clothing and Christmas decorations did a clutter and
say goodbye to what ones do we throw away here?
You know,
we like to recommend asking yourself if you have
used a certain item in the last 12 months,
and if the answer is no, you really want to consider either tossing it,
selling it or in the spirit of the holidays, donating it.
Okay,
so what tips do you have to make subtle shifts to your
decor that can also endure past the confines of the holiday season?
You want your decor choices to last beyond the holiday season.
You want to do things like perhaps with lights,
focus on white or yellow lights rather than rainbow lights, which feel really,
really holiday ish.
You can also consider things like swapping out,
throw pillows and throw blankets to make an
immediate change that can last beyond the holidays.
And another option is always to paint a fresh coat on an accent wall.
Um, so what should we be spending when it comes to, um,
the amount of gifts and and and and things for the holidays in the house?
Should we? Is there a budget level that we should be doing?
I think you need to ask yourself what you're comfortable with.
There are plenty of D I Y gifting options to consider.
And really, what makes a gift important is the meaning behind it,
not necessarily the price tag.
All right,
so what are some tips out there for updating a spare room
to make sure that your guests are comfortable during their stay.
We like to recommend, um, mimicking the hotel experience wherever you can.
So doing things like creating a little essentials basket with shampoo,
conditioner, deodorant,
toothpaste items your guests may have left behind and
then also supplying a pair of robes and slippers,
which are items your guests may not have wanted to pack in their suitcase,
but definitely want while they're visiting.
Okay, so, Melanie,
why should you keep your outdoor and indoor lighting on separate outlets here?
And what sort of the best way to ensure you don't blow a fuse?
At least for the holidays,
The best way to avoid overloading a circuit or blowing a fuse
is to really spread out where you plug the lights in right.
And also keep in mind that indoor extensions
are not necessarily built for the outdoors.
Um,
two good things you can invest in that will help.
On this front are a timer for your lights
that really regulate how much electricity each strand is using
and a smart extension cord that can actually tell
you when too many things are plugged into it.
And I guess the last big question here.
Melanie, how long do you keep your holiday decorations up for? After Christmas.
Oh, wow. Well, personally, I'm about 12 days post holiday.
But you know, to each their own holiday decor is so festive and fun,
there's no no harm in leaving it up as long as you'd like.
I'm into that as well. Keep the holidays going as long as you can.
Melanie Burly a general manager at the Spruce Belly. Such a pleasure to have you on
and guys coming up heating accounts for half of your home's energy costs.
So we want to bring that bill down.
We're gonna share some tips to learn and conserve
heat and energy this winter on the other side.
Mhm.
And welcome back friends to your future home brought to you by rocket mortgage when
you need to cash out your home in a simple way to get it.
Well, rocket can with Azure Celestino.
I'm Baker Machado and heating guys accounts for half of your home's energy costs.
So if you're looking to bring that bill down this year,
listen to these tips to conserve your heat and energy.
This Winter Asia,
Yeah. First, check the seals on your windows and doors.
These two portals to the cold weather outside
are often the biggest culprits of allowing heat to
escape and letting that cold air in causing
your heating appliances to work harder and longer.
Once you identify which doors and windows are causing the most issues,
they're relatively cheap to seal up.
You can seal the windows with exterior grade cock and the doors by
adding or replacing weatherstripping and installing a door sweep at the bottom.
Help block that cold therapy. Yeah, good stuff there, Asia.
Next up, guys just turn down the thermostat when you go to sleep.
A lot of people waste money on electricity
just by turning up the heat in their house when they go to bed.
Research actually shows it's healthier to sleep in cooler temperatures at night.
And if the temperature is too hot,
well, it's gonna be really difficult for you to get a good night's sleep,
So this should be extra easy and effective.
All you have to do is invest in a programmable or smart thermostat,
and all you have to do is reduce the temperature of 10-15°. When
you're sleep or away from your home for extended periods and that itself,
Asia can save you 10% on your electric bill right there every year.
I'm definitely guilty of that one,
keeping the heat running when I'm sleeping and I've noticed that sleep recently.
Okay. Lastly, take care and be mindful of your appliances.
Make sure your refrigerator coils,
air filters and other appliances are periodically dusted.
If not, we'll have to work harder than necessary to function properly.
Also consider installing smart power strips.
One of the biggest energy wasters occurs when devices are plugged in but not in use.
The device still consumes power,
so you're paying for that energy even while they sit there.
A smart energy strip can detect when a device is in
standby mode and cut off the power to that device.
So if somebody who has a smart thermostat, I have to admit, it has saved my house
tons and tons of money,
and then you also become obsessed with what the temperature is always going to be.
But you would be amazed how much a smart thermostat really sort of helps
you recalibrate your bills and also bring your electrical costs down as well.
Yeah, definitely. Alright.
So, guys,
if you're not sure how or where to start cutting down energy use in your
home a lot of utility companies will offer some free home energy audits for you
as well that this can help you uncover the areas where you're wasting the most
energy and also figure out how you can save money on that electric bill.
Also
your future home.
Well, it's out there whether you're buying your first home or that forever home.
You want a mortgage lender who can help you plan
with certainty for home loans that work for you.
Rocket can.
Alright, guys, that's gonna do it.
We'll see you in the new year for more of your
future home Brought to you by rocket mortgage Always so fun.
Baker. Absolutely Asia and stay with us guys.
More Cheddar news coming up on the other side