New: 🧠 Market Minds Issue #004

We appreciate each and every one of you for taking the time to read Market Minds. Buckle up and enjoy the free value - and you won’t want to miss the crazy listing nicknamed “The Whale House”.

Free Leads from Zillow

We’ll keep it short and sweet:

• Look at pre-foreclosure, FSBO, etc. homes on Zillow

• Find owner name in Remine (or other free software provided by your MLS)

• Use True People Search (free) for contact information

A Lot to be Thankful For

In the four weeks ending November 19, new listings experienced their largest year-over-year increase since 2021.

Another positive development is the decrease in the median monthly mortgage payment. Over the past month, mortgage rates have dropped from 8% to 7.3%, resulting in a reduction of over $100 in the average monthly payment.

The good news about lower mortgage rates and reduced monthly payments is prompting buyers to take action. Mortgage-purchase applications have increased by 4% this week, reaching their highest level in six weeks.

Embrace Change?!

If you've been paying attention to the news about the recent commission lawsuits, then you know change is coming. People hate change. And real estate agents hate it far more emphatically than most because it isn't viewed just as an inconvenience but as a threat to their livelihood.

The real estate brokerage business is not going away. And your job might even get easier if more mediocre or terrible agents leave the industry and no longer complicate the other side of your transaction.

Bottom line: if you do your job, you'll be fine. And if you don't do your job, you don't deserve to be fine.

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“The Whale House”

This Santa Barbara, CA home can be yours for only $2.99M. View the full listing here.

How would you write this listing description? 😂

TL;DR (Too Long; Didn’t Read)

Find free leads on Zillow by looking at pre-foreclosure and FSBO homes. Use tools like Remine and True People Search to gather owner information. There are positive trends in the real estate market, including a significant increase in new listings and a decrease in median monthly mortgage payments. There are impending changes in the industry due to commission lawsuits but if you do your job well, you'll be fine.

Have a great weekend - we’ll see you next Saturday.

Cheers 🍻

-Market Minds Team