The North Pointe office of Berkshire Hathaway HomeServices Homesale Realty's sales meeting dealing with the following topics: 1. Normalizing Market Boot Camp and Mindset in a Changing Market, 2. The True Cost of Waiting to Buy a Home.

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The True Cost of
Waiting to Buy a
Home
North Pointe Sales Meeting
October 4, 2022
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Our Homesale Complete Services
Dan Ranck
(717) 271-2400
NMLS # 140989
James Ream
(717) 286-9703
NMLS # 1598468

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Sarah Tompos
(717) 587-7666
stompos@homesale.com
Sheri Kelly
(717) 669-2065
skelly@homesale.com
Our Homesale Complete Services

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James White
(717) 575-4014
JamesWhite@homesale.com
Our Homesale Complete Services

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VIP Services Spotlight
Bruce Kronman
Security Consultant
ADT Security Services
America’s #1 Home
Security Provider

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Designer Bag Bingo
Date: Thursday, October 27th
Time: Doors open at 6:00 PM
Location: Farm & Home Center
1383 Arcadia Road
Tickets: $25 in advance
$30 at the door

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Agent+ Contest (October 1-31, 2022)
● Agent/Employee arranges meeting between candidate and manager
Agent/Employee registers candidate via HomesaleAgentPlus.com
● Entries Earned:
- Vet Candidate = 2 Contest Entries
- NTB Candidate = 1 Contest Entry
● Drawing held on November 1, 2022 for - - -
$3,000

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Normalizing Market Boot Camp

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1. Accountability Partners
• Both participants had accountability partners
o Office manager or mentors
o Bounce ideas off of each other
• Read ‘The Miracle Morning for
Real Estate Agents’

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2. Morning Routine
• Both participants had routines (although different)
o Affirmations and goals
o Exercise and fill the mind with positive stuff
(podcasts, YouTube, SXM Radio)
• If they step outside of their routine, it throws off
the balance of the day

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3. Time Blocking
• Both participants sit down and plan their day/week
o Important to add personal appointments
o Networking, social media, appointments,
prospecting
• If you finish 70% of your items, consider it a success
o Don’t be so hard on yourself

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4. Changes Made Over the Last 6 Months
• Both emphasized setting expectations
o We’ve gotten away from this
o “It’s not me, it’s the market”
• Be able to clearly describe the market
o Get educated
o Know your stats
o “Marry the house, not the rate”

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5. Goal-setting Process
• It’s OK to have anxiety prior to starting the process
• The process itself
o Mindset to continually improve over the
previous year
o What can I/we improve upon?
o Focus on habits and the results will come

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6. Final Thoughts
• STOP watching or listening to the news
• We spend a lot of time in the car – use it wisely
• Mindset takes work and discipline – it’s not easy
• NINJA will get you in the right mindset

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Future Sessions
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• Marketing Your Listings and Seller Communication Strategies
Tuesday, October 4th at 1:00 PM
• Working with Buyers in a Normalizing Market
Tuesday, October 11th at 1:00 PM
HomesaleBootCamp.com

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“The real estate market is moving so fast.
Recession is upon us, interest rates are crazy,
and inflation is out of control!”

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People tend to do
nothing without
good information

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The True Cost of Waiting
to Buy a Home

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National Median Asking Rent (1998-2022)
2001 2005 2009 2013 2017 2021
$1,400
$1,300
$1,200
$1,100
$1,000
$900
$800
$700
$600
$500
$400
Recession Source: U.S. Census Bureau, Current Population Survey/Housing Vacancy Survey, August 2, 2022
Recession Data: National Bureau of Economic Research, www.nber.org
Median
Asking
Rent
$1,314

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Lancaster County Average Asking Rent
(www.Rent.com)
$1,665/mo.
2 bedroom
September 2022
(www.RentCafe.com)
$1,506/mo.
1,031 SF
July 2022
(www.Zumper.com)
$1,507/mo.
2 bedroom
September 2022
Average
$1,559/mo.

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CoreLogic 2022 Q2 Home Equity Report
$60.2K
Average equity gain
for U.S. homeowners
with mortgages
27.8%
Year-Over-Year percentage
increase in equity for U.S.
homeowners with mortgages
“The total average equity per borrower has
now reached almost $300,000, the highest
in the data series.”

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Selma Hepp
Interim Lead of the Office
of the Chief Economist
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Home Equity Perspective
For many households, home equity
is the only source of wealth
creation. As a result, recent record
gains in equity and record declines
in loan-to-value ratios will provide
many owners with a financial buffer
in case economic conditions worsen.

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Home Price Expectation Survey (HPES)
9.00%
4.74%
3.67% 3.41% 3.57%
2022 2023 2024 2025 2026
pulsenomics®
Survey of a national panel of over
100 economists, real estate
experts, and investment and
market strategists

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Lancaster County Median Sales Price
Sept
2021
$320,000
$310,000
$300,000
$290,000
$280,000
$270,000
$260,000
$250,000
$240,000
$230,000
$220,000
Source: Bright MLS (all residential property)
Median
Sales
Price
Oct
2021
Nov
2021
Dec
2021
Jan
2022
Feb
2022
Mar
2022
Apr
2022
May
2022
June
2022
July
2022
Aug
2022
$310,000
+16.98%
12 month increase
in median sales price

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Refinancing Strategy #1 for Homebuyers
Sales Price:
Mortgage:
Loan to Value:
Interest Rate:
Term:
Payment (P&I):
$310,000
$279,000
90%
7%
30 years
$1,856.19
Sales Price:
Mortgage:
Loan to Value:
Interest Rate:
Term:
Payment (P&I):
$336,610*
$273,127
81.1%
5%
30 years
$1,466.20
* 4.74% in 2023 and 3.67% in 2024
Home Price Expectation Survey
Buy NOW and REFINANCE in two years

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Refinancing Strategy #1 for Homebuyers
Sales Price
Less Mortgage
Equity
Down Pymt
Refinance Fee
Available Equity
$ 336,610
273,127
63,483
31,000
4,500
$ 27,983
Rent Option
Buy vs. Rent
$ 37,416
$ 65,399
Buy NOW and REFINANCE in two years
-0-
$27,983
$37,416
$65,399

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Refinancing Strategy #2 for Homebuyers
Sales Price:
Mortgage:
Loan to Value:
Interest Rate:
Term:
Payment (P&I):
$310,000
$279,000
90%
7%
30 years
$1,856.19
Sales Price:
Mortgage:
Loan to Value:
Interest Rate:
Term:
Payment (P&I):
$336,610*
$277,627
(includes $4,500 refinance fee)
81.1%
5%
30 years
$1,466.20
* 4.74% in 2023 and 3.67% in 2024
Home Price Expectation Survey
Buy NOW and REFINANCE in two years

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Refinancing Strategy #2 for Homebuyers
Sales Price
Less Mortgage
(includes $4,500 refinance fee)
Equity
Down Pymt
Available Equity
$ 336,610
277,627
58,983
31,000
$ 27,983
Rent Option
Buy vs. Rent
$ 37,416
$ 65,399
Buy NOW and REFINANCE in two years
-0-
$27,983
$37,416
$65,399

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Still thinking about waiting?

31. Being challenged in
life is inevitable, being
defeated is optional.
- Roger Crawford
Disabled, world-class athlete

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Presenter Contact Info
Tom Blefko
Associate Broker
REALTOR®
Director of Operations
North Pointe Office
Berkshire Hathaway HomeServices
Homesale Realty
Office: (717) 560-9100
Cell: (717) 587-6600
Email: tblefko@homesale.com
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• 2021 REALTOR® of the Year
• 2021 President
• 2009 Volunteer of the Year