Consistency
“It’s not about intensity, it’s about consistency…. if all you do is go to the dentist twice a year, your teeth will fall out. You have to brush your teeth twice a day for two minutes…” Simon Sinek
(actions + consistency) x time = results
Where do you need to build-up your consistency? Sales activity? Health? Why not start today? (See the 30x30 challenge listed below)
Notes that Resonated
The best teacher is your last mistake
If you don’t change directions, you may end up where you are headed
Success is doing a few things really well, repeated thousands of times
You can either chose the pain of consistency or the pain of regret
God often reserves his greatest glory for your lowest points
God is preparing you for what he has prepared for you
Elon Musk believes every problem is solvable and every situation is salvageable
"Forgiveness means letting go of the hope for a better past." - Zoe York
Where your mind goes your energy flows… where your energy flows, is where your life grows
“You are a sum total of where you invest your energy” - Dandapani
Videos to watch
Increase Consistency & Will power:
Finish what you start
Do a little better than you think you can
Do a little more than you think you can
Inspirational Quotes
You cannot change your destination overnight, but you can change your direction overnight." — Jim Rohn
Consistency: Ordinary moments compound over weeks and months into extraordinary results. -Shane (FS Brainfood)
Opportunities in life come through people. Who do you need to connect with to gain access to the opportunities you want? -James Clear
Over promise and over deliver - Jerry Baker
Productivity
Everyone wants to learn and grow but no one wants to practice
30x30 consistency challenge:
Real Estate Market Trending:
Summary:
The housing market is slowing down, but tight inventory is still an issue. Unless there is a dramatic change in the economic conditions low inventory and low delinquencies will continue to keep prices and values near current levels. Interest rates are expected to stay “higher for longer” and are expected to not see downward pressure until late 2024 or 2025. Some expect rates to stay historically high for the next 10+ years based on interest rate and economic super cycle data. Higher interest rates and lower rental rates will keep homebuying demand low. Although the MBA is expecting a slight increase in demand it is still expected to be comparatively low to the industries last 4 years. Lower demand and excess capacity in the mortgage space will force lenders to continue to reduce staff and focus on profitability through the spring of 2024.
The Data:
The number of homes actively for sale decreased by 2.0% YOY
The number of unsold homes (including homes that are under contract) dropped by 3.7% YOY.
October had 3.2% less newly listed homes YOY
The median price of homes for sale this October remained stable YOY
Average days on market was 1 day less than last year (50 days) and 2 days less than pre-COVID days
Listing Prices are steady but sellers cutting price could be the first signs of a softening market
Although slightly increasing, mortgage delinquencies remain at record lows
4.2% of borrowers that have a mortgage have less than 10% equity in their homes
“Overall, the weighted-average combined loan-to-value ratio for all mortgaged homes in the U.S. is 45%, among the strongest we’ve seen, dating back more than 20 years, outside of Feb.-Aug. 2022 at the peak of home prices” - ICE black knight
Affordability is at a 38% low and most believe it will only get worse with rising interested rates expecting to be the norm for years to come
“MBA economists expect home sales to grow by 6.3 percent next year, to 5.17 million, and continue rebounding in 2025 and 2026. Next year’s growth is expected to be driven by an 8.7 percent increase in sales of new homes, to 752,000, and 5.9 percent growth in sales of existing homes, to 4.42 million”. (Inman News)
The MBA estimates that independent mortgage banks and mortgage subsidiaries of chartered banks lost an average of $2,812 on each loan they originated in the last three months of 2022, pre-tax. Excess capacity continues to be an issue for Mortgage bankers. Companies will continue to be forced to cut costs and head count in order to reduce losses. (Blackknight)
Things to Discover
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(Thanks for the recommendation Brad)