Morning! This is MF Lending - the hat trick of mortgage newsletters. We’re the fool-proof way to serve up mortgage and real estate market knowledge without any of the guesswork. So you’ll look like the smartest agent in the room (and you are!)

Here’s what we’ve got for you today:

1. Case-Schiller & FHFA Jan Home Appreciation Report 🔎

2. The Best Email Tool I Use Daily ⚡️

3. Average Apartment Size Plunges ䷖

_{By the way, this article on Feb Housing Numbers was the most clicked link in this newsletter, you should check it out if you are interested.}

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Nuwave Rates Today 📉

FHFA & Case-Shiller January Home Appreciation Index 🔎

The FHFA and Case-Shiller indexes measure home appreciation nationally.

What’s the difference?

The FHFA excludes cash deals and non-conforming loans (aka jumbo or non-qm).

Therefore, Case-Shiller Index is considered the “gold standard” for analyzing home appreciation - here is the full report (these numbers are seasonally adjusted)

Here are the main highlights from the indexes:

1. Annual appreciation is slowing but still positive

2. East vs West - The east coast is seeing larger appreciation than the west - many regions of the west have actually seen YOY declines

3. Miami, Tampa, & Atlanta posted the highest YOY gains (*Nashville is not a city on the list)

4. Cash buyers are getting major discounts - the spread between Case-Shiller & FHFA (.7%) is mostly driven by cash buyers getting a discount from sellers

5. East-South Central (Nashville group) - showing 6.9% YOY growth in appreciation but appreciation is slowing

Overall, the national media is pushing a narrative of a “housing collapse” or “major slowdown” and it’s just not the case. As we detailed in Monday’s edition - home sales rose month-over-month and the numbers appear to be remaining strong as more Feb numbers come out.

The Best Email Tool I Use Daily ⚡️

This is not an ad…I actually use this every day (but…@Mixmax if you want to sponsor us please reach out…).

It’s called - Mixmax.

Here are the highlights - I have included screenshots from my inbox as well:

1. Know when (and if!) your email is opened - and by whom.

2. Set reminders to follow up on emails if they have not been opened.

3. Send an email at a later time

4. Create template emails for messages you send often

5. Get notifications when clients open your email multiple times

Know when (and if!) your email is opened - and by whom

Tired of asking yourself if your client read the email? Just hover over the lightning bolt in your email and you can see if your email has been opened.

Set reminders to follow up on emails if they have not been opened.

Send an email at a later time

aka you can write the email at 11:30 pm with a glass of wine and have it sent at 6:02 am when you have your espresso. Because let’s be real we are always working… 🍷

Create template emails for messages you send often

I have templates for emails like our loan application, marketing emails about special programs, resources for new agents I meet with, etc.

If you find you write the same message over and over or have a process you want to explain to a client - this is an easy way to do most of the work for you.

Get notifications when clients open your email multiple times

I use this as a reminder to follow up. If I get this notification I drop them a text asking if they have any additional questions - 60% of the time I will get a response like this:

“Omg! So funny we were just looking at your email…we do have a question…”

Mhmm. I know you were 👀👀

These are just some of the amazing things MixMax does.

If you want to know more - use this code to get a special offer for a demo & subscription - MixMax Referral Link

Average Apartment Size Plummets ䷖

The average apartment size has dropped to its lowest levels - according to RentCafe.

Based on my quick search a client could probably lock something down for 310k-400k (I saw some studio apartments all the way down to 275k)

On a quick monthly payment calculation - that’s a PITI payment of between $2,184 - $2,790

It begs the question - where are new rental agreements going to land in Nashville throughout 2023?

A buyer could get into these homes for $16-$20k (with closing costs included) and could even get the seller to pay for some of those closing costs for you. If clients don’t need a ton of space, why pay rent?

The Cul-de-Sac

This quick video details the bond market over the previous quarter and how it has affected interest rates (for you extra curious agents…):

Mark your GCal & Potential Impacts 📆

1. Today (Thursday 3.30) - Q4 GDP Report

2. Friday - PCE Numbers - FED’s favorite measure of inflation

Thanks for reading - that is all we have for today 😎. See you in April!

Please forward this to your friends and colleagues if you found it valuable.

— Michael F DiLucchio