This article originally appeared on The Financially Independent Millennial and was republished here with permission.
If you’ve been paying attention to the housing market recently, you will have noticed it’s on fire. From Seattle, WA, to St. Petersburg, FL, there isn’t a market that hasn’t been affected by the low mortgage rates and high millennial demand for housing. The market hasn’t seen this much activity ever (even more so than the housing financial crisis of 2008).
Given the recent interest in home buying, we thought it would be prudent to discuss exactly how Americans can afford such large homes. And, why now? After all these years, why are mortgages and refinances becoming popular all of a sudden? Let’s first discuss the basics of a mortgage and what its advantages are. They’re equally complex and beneficial, so it’s important to ensure we cover all the bases.
What Is a Mortgage Loan?
Simply put, your home secures the mortgage loan. It might be a house, a store, or even a piece of non-agricultural land. Banks and non-banking financial institutions both offer mortgage loans.
The lender gives the borrower cash, and charges them interest on it. Borrowers then pay back the loan in monthly installments that are convenient for them. Your property acts as security against the mortgage. And, your lender retains a charge until the borrower pays the loan in full. As a result, the lender will have a legal claim to the property for the duration of the loan. If the buyer fails to pay the debt, the lender has the power to seize the property and sell it at auction.
What Are the Different Types of Mortgage Loans?
No matter what anyone tells you, always remember: A mortgage is a debt. Debt is a very polarizing topic to discuss with friends because many of us were raised on the premise that debt is bad. The truth is, some debt is bad, some debt is okay, and some debt is good. Many today would argue that mortgage debt is good since the rate is so low and it affords you a bigger home.
Get matched with a personal
loan that’s right for you today.
Learn
more
Some people believe that debt should be prevented at all costs. Others view it as a means of improving one’s quality of life or as a means of increasing fortune. What’s awful about debt, factually, is reckless credit usage.
Here’s a rundown of the many types of mortgage programs, along with their benefits and drawbacks, to help you determine which is best for you.
A mortgage with a fixed rate
The interest rate is fixed for the duration of the loan. These loans provide a consistent monthly payment and a low-interest rate. Borrowers who wish to pay off their mortgage quicker can typically make extra payments toward the principal, as prepayment penalties are uncommon.
Pro: It’s predictable because the monthly payment is fixed.
Con: Taking out a fixed-rate loan while the interest rates are high means you’re stuck with it for the duration of the loan. The only way out is to refinance at a lower rate.
A mortgage with an adjustable rate (ARM)
After a fixed-rate cycle of months to years, the interest rate on an adjustable-rate mortgage (ARM) varies. Lenders sometimes publish ARMs with a pair of numbers, such as 7/1 or 5/1. Usually, a 5/1 ARM has a fixed rate for five years and then adjusts every year, rounding off if that option exists.
Pro: An ARM’s opening interest rate is often lower than that of a standard fixed-rate loan, so it’s easy to get lured in by the teaser rate. But, it might wind up costing more in interest over the term of your mortgage than a fixed-rate loan. An ARM may be the ideal option for someone who plans to market their home before the rate changes.
Con: Future rate hikes might be significant, leaving many adjustable-rate mortgage borrowers with significantly elevated monthly payments than if they chose a fixed-rate mortgage.
Refinance loan or second mortgage
Sometimes, a homeowner already has a mortgage but wants to change the terms. Maybe they want a lower rate or a longer term. Or maybe, they want to take out more equity from their home. Whatever the case, many options are available! The most common would be refinancing the home mortgage. With mortgage refinance, the homeowner closes out their original mortgage, and obtains another one – ideally with more favorable terms.
With interest rates so low these past couple of years, refinancing has become much more popular. How often a homeowner refinances is usually a personal decision, but they should consider at least these factors:
market interest rate vs their current mortgage interest rate
length/term of their loan vs the new one they want to get
cost of the loan (“closing costs”) vs keeping still
[cash-out refinance only] what to do with the funds
Pros: If you can secure a lower interest rate than your current loan, and the closing costs aren’t significant, then it could definitely be worth refinancing. On the other hand, if you need the money for home renovations, a cash-out refinance may be your best bet.
Cons: Refinancing costs money, so make sure the math works in your favor.
Conventional loan
The standards for conventional loans are generally more stringent than those for government-backed house loans. When reviewing traditional loan applications, lenders usually look at credit history and debt-to-income ratios.
Pro: A conventional mortgage may be used for a range of property kinds, and PMI would help borrowers qualify for a conventional loan even if they have less than 20% for the down payment.
Con: Compared to government loans, conventional loans have tougher qualification standards and may demand a larger down payment.
Interest-only mortgage
The average age of home purchases has decreased, and an increasing number of millennials are now purchasing their first houses. Typically, the loan duration is determined by the debt-to-income (DTI) ratio and the sum of interest negotiated on the mortgage. For homebuyers, a longer contract means a lower payment, but a longer time to pay off that debt.
Some lenders may offer an interest-only mortgage, meaning the borrower’s monthly fees will cover only the interest. As a result, it’s best to have a strategy in place to ensure that you can have enough money to return the entire sum borrowed at the end of the period.
Interest-only loans may be appealing since your monthly payments are low. But, unless you have a strong strategy to reimburse the capital, at some point, a fixed loan could be the better option.
Pro: Interest-only mortgages allow the borrower to place their capital elsewhere, such as in dividend stocks, a rental property, or other investments.
Con: Borrowers who aren’t careful with their budget may find themselves never being able to pay off the loan.
Read more: 15 Ways to Generate Passive Income from Real Estate
FHA loan
FHA loans and VA loans are mortgage loans insured by the government and available for potential homebuyers. FHA loans are available to lower-income borrowers and typically require a very low down payment. Also, borrowers get competitive interest rates and loan costs.
The government does not directly grant Federal Housing Administration (FHA) loans. FHA loans can be issued by participating lenders, and the FHA guarantees the loans. FHA mortgages might be a viable option for those who have a high debt-to-income ratio or a bad credit score.
Pro: FHA loans need a smaller down payment and credit score requirements are lower than conventional loans. Moreover, FHA loans may enable applicants to use a non-resident co-signer to assist them to be qualified.
Con: Unless a borrower puts down 10%, the monthly mortgage insurance will remain a part of the payment for the loan’s life. If a borrower ever wants to remove the monthly mortgage insurance, they must qualify and refinance into a conventional loan.
Read more: How to Improve Your Credit Score
FHA 203(k) loan
An FHA 203(k) loan is a government-insured mortgage allowing funding borrowers with one loan for both home renovation and house purchase. Current homeowners may also be eligible for an FHA 203(k) loan to help pay for the repairs of their current house.
Pro: An FHA 203(k) loan can be utilized to purchase and renovate a home that would otherwise be ineligible for a traditional FHA loan. It just takes a 3.5% down payment.
Con: You must be eligible for the full property value, as well as the price of anticipated improvements, with these loans. The rate may be greater than on a normal FHA loan. You’ll also have to pay both a one-time, and monthly mortgage premium insurance payments.
VA (Veterans Affairs) loan
Home loans for veterans, reservists, and military or National Guard members, as well as qualified surviving married partners, are backed by the US Department of Veteran Affairs.
In fact, nearly 90% of all VA-backed home loans are made without a down payment.
Pro: You won’t have to put any money down, or deal with PMI payments every month.
Con: On purchase loans, a one-time VA “funding charge” varies from 1.4% to 3.6%.
Fannie Mae homestyle loan
The Fannie Mae homestyle mortgage needs just 3%–5% down, but a credit score of 620 is an option for fixer-uppers.
Pro: You don’t have to pay for mortgage insurance beforehand, and you can terminate it after twelve years or when you have 20% equity on your house. The rate is frequently cheaper than an FHA 203(k) loan.
Con: Credit score requirements must be met.
Reverse mortgage loan
Homeowners aged 62 and above can use a reverse mortgage to convert some of their property value into cash. The age of the youngest homeowner, the loan rate and fees, the heir’s wishes, and payout type are all aspects for the lender to consider.
Pro: There are no monthly payments required, and the homeowner can select between a one-time balloon payout, a monthly payout, a line of credit, or a combination of the three.
Con: The interest rate may be greater than that of a typical mortgage. Mortgage insurance, a direct charge, an initiation fee, and third-party expenses are usually paid by the homeowner.
Final Thoughts
Mortgage loans are given to those who have enough income and assets vs. their debt. Mortgages also aid in the development of credit. They enable homeowners to invest in a home, with the advantage of having a forced-savings component. However, like with any loan, borrowers should be responsible when taking out a mortgage. It’s easy to get carried away and buy more than is necessary (and become house-poor).
Looking for jobs where you work alone? If you’re an introvert or simply want minimal human interaction, here are 40 ideas.
Looking for the best jobs where you work alone? If you’re an introvert or simply want minimal human interaction, here are 40 ideas.
With there being so many different types of jobs out there nowadays, more and more people are looking for jobs where they can be by themselves, away from the busy office or customers. They find comfort in jobs where they can do tasks on their own, letting them really concentrate and do well in what they do best.
For me, I have worked mostly alone for over a decade now, and I wouldn’t change it for the world. I enjoy the flexibility of working on my own and having less stress.
Jobs that let you work this way are usually appealing to introverted individuals, those who like a calmer setting, or people who just work better with more independence.
Knowing which jobs let you work alone is really important for those who want to find the right mix of being on their own and getting things done well.
Top Jobs Where You Work Alone
There are 40 jobs where you can work alone listed below. If you want to skip the list, here are some jobs that you may want to start learning more about first:
Benefits of Jobs Where You Work Alone
More and more people are looking for jobs where they can work alone, and I get it! I have been working mostly alone for over a decade and I really love it.
After all, a person spends so much of their time working, so you might as well like what you’re doing. If you’re an introvert, or if you like working by yourself, there are jobs where you can do just that.
Some of the positives of working alone include:
Less stress if you’re an introvert – If you’re an introvert, then you may feel stress when working with other people, such as coworkers and customers.
Getting more stuff done in less time – Working alone may mean that you can complete your tasks faster because there are fewer distractions.
Having a more flexible schedule – Some jobs where you work on your own sometimes let you choose when you want to work, as long as you get the work done.
If you’re looking for jobs where you work alone, think about what you’re good at and what you enjoy (and also think about what you don’t like!).
40 Jobs Where You Work Alone
Below are 40 jobs where you can work on your own. The jobs below range from earning a part-time to a full-time income too.
1. Proofreader
Proofreaders check and edit written content for errors and inconsistencies, and this job requires strong attention to detail and excellent grammar skills.
If you’re good at paying close attention to details, then proofreading could be an ideal work-alone job for you.
Authors, website owners, and students often hire proofreaders to improve their work. There’s a high demand for proofreaders, and you can find jobs through many different platforms.
Even the most skilled writers can make mistakes in grammar, punctuation, and spelling. That’s why hiring a proofreader can be very helpful for pretty much anyone and everyone.
If you want to find online proofreading jobs, I recommend joining this free 76-minute workshop focused on proofreading. In this workshop, you’ll learn how to begin your own freelance proofreading business.
Recommended reading: 20 Best Online Proofreading Jobs For Beginners (Earn $40,000+ A Year).
2. Virtual Assistant
One of my first side jobs was as a virtual assistant and it was a fun and flexible way to earn income. While you do have a boss when you are a VA, a lot of the tasks that you do will require you to take charge and complete them by yourself in your own home.
A virtual assistant is someone who helps people with office tasks from a distance. This could be from your home or while you’re traveling. It might include things like replying to emails, setting up appointments, and managing social media accounts.
This job can pay you more than $50,000 each year.
If you want to find part-time or full-time virtual assistant jobs, I recommend joining the free workshop called “5 Steps To Become a Virtual Assistant“.
Recommended reading: Best Ways To Find Virtual Assistant Jobs
3. Bookkeeper
Bookkeepers are people who keep track of all the money-related things for businesses such as writing down sales, keeping a record of expenses, and making financial reports.
This is a job where you can work alone and a typical salary is $40,000+ each year. Plus, you’ll mainly be dealing with numbers and not people.
You can join the free workshop that focuses on finding virtual bookkeeping jobs and how to begin your own freelance bookkeeping business by signing up for free here.
Recommended reading: How To Find Online Bookkeeping Jobs
4. Blogger
Blogging is a great way to make money while working on your own. It’s one of the reasons I really enjoy it, haha! I get to work by myself, for myself, and I can pick the projects I want to work on.
As a blogger, you write content for others to read online. You get to choose what you want to write about as well as how you want to make money blogging because there are so many different options (like affiliate marketing or displaying ads).
You can begin a successful blog about a specific topic like finance, travel, lifestyle, family, and many others.
Blogging is my main source of income, and it has completely transformed my life. I have the freedom to travel whenever I want, set my schedule, and be my boss.
Since I began Making Sense of Cents, I’ve made more than $5,000,000 from my blog. I earned this money by working with companies through sponsored partnerships, affiliate marketing, display ads, and selling online courses.
Learn more at How To Start A Blog FREE Course.
5. Delivery Driver
Delivery drivers pick up and drop off packages. And, they get to work by themself most of the time as they are in the vehicle alone.
A delivery driver may drive a car, truck, or even a bike, depending on the company they work for. They don’t usually have a boss watching them all day nor have to deal with very many customers for long periods.
6. Book Reviewer
Book reviewers read books and share their thoughts in book reviews.
There are websites where you can get paid for sharing your thoughts about books and you may earn money through PayPal or a bank transfer, and sometimes you get to keep the book you reviewed.
They don’t just want positive reviews either, they want to know what you really think! You see, authors and publishers like to send out free copies of their books so that they can get honest opinions. Just like us, they know it’s helpful to read reviews before deciding if a book is worth the time.
Some sites that pay for book reviews include Online Book Club, Kirkus Media, and BookBrowse.
Recommended reading: 7 Best Ways To Get Paid To Read Books
7. Deliver RVs or Cars
You can earn money by traveling across the country and delivering vehicles for people and dealerships. Sometimes you’ll be towing the vehicle, and other times you’ll be driving it.
If you want a job with minimal human interaction, this can be a good one to look into as you are mostly by yourself. You simply pick up the vehicle, drive by yourself, and then drop it off.
For this job, you need to have a clean driving record. Those who do this type of work can earn around $300 to $400 (or much more!) for each vehicle they deliver. It depends on the distance they are traveling and what is being transported.
8. Digital or Graphic Designer
A graphic designer is someone who creates designs for others, such as people and businesses.
As a digital designer, you may be making things like images, printables, planners, t-shirt designs, calendars, business card designs, social media graphics, stickers, logos, and more.
Recommended reading: How To Make Money As A Digital Designer
9. Pet Sitter and Dog Walker
Pet sitters and dog walkers take care of pets while pet owners are away, such as on vacation or in the hospital. Some of the tasks include feeding, taking dogs for walks, and playing with them.
You might have pets come to your home or you can go to their owner’s place (this is something that is agreed upon beforehand). Dog walkers earn around $20 for every hour walking a dog. Looking after someone’s pet overnight can earn a person around $25-$100+ or even more each day.
I have personally paid a person to watch my dogs overnight in their home $100 a day. She was so wonderful too and my dogs loved her.
Now, with this job, you’re not working entirely alone, because you will be with pets. But, they can be great friends and companions!
Rover is a company you can sign up with and list your dog walking and pet sitting services.
10. House Cleaner
House cleaners make sure homes and businesses are nice and clean. They might work alone or with a small group. They can earn between $25 to $50 an hour for cleaning for others.
You can work for a cleaning company, but you’ll likely make more money if you have your own business.
Starting this kind of business isn’t expensive because you likely already have the cleaning supplies you need. You can advertise your services on Facebook, tell your friends and family, or make an account on Care.com.
11. Transcriptionist
An online transcriptionist’s main task is to listen to video or audio files and then type out everything that is being said, a process known as transcribing. The aim is to accurately write down what is heard, without any mistakes in spelling, grammar, or punctuation.
There are many different types of transcriptionists as well – legal, general, and medical transcriptionists.
This job requires strong typing and listening skills, and you can work from home all by yourself.
Online transcriptionists earn around $15 to $30 per hour on average, with new transcribers on the lower end of that.
A helpful free resource to take is FREE Workshop: Is a Career in Transcription Right for You? You’ll learn how to get started as a transcriptionist, how you can find transcription work, and more.
Recommended reading: 18 Best Online Transcription Jobs For Beginners To Make $2,000 Monthly
12. House Flipper
House flippers buy, renovate, and sell properties for a profit. This job involves managing renovation projects, and you can work alone or with a small crew.
House flipping is when someone buys a property at a lower price, fixes it up (like painting, redoing the kitchen, and improving the outside appearance), and then sells it for more money to make a profit. This is done to make a quick return on the investment.
Recommended reading: 10 Best Books on Flipping Houses To Make Money
13. Grocery Shopper
Grocery shoppers buy groceries for people like you and me, offering a helpful service for those who don’t have the time or can’t shop on their own. You’ll work on your own and talk to clients through an app on your phone.
One service you can easily sign up with to become a grocery shopper is Instacart. This is a popular site for people who want to make extra money by shopping for and delivering groceries.
Instacart shoppers make money from a mix of base pay, tips from customers, and sometimes bonuses or rewards (like for finishing orders during busy times).
You can sign up here to get started as a grocery shopper with Instacart.
Recommended reading: Instacart Shopper Review: How much do Instacart Shoppers earn?
14. Affiliate Marketer
Affiliate marketers share products or services with their followers for a commission. You do this by placing a referral link on your website, blog, or social media (like Instagram). When people use that link to buy something, you then get a commission.
For example, if you share a link to a book on Amazon and someone buys it through your link, you make some money. Companies like Amazon want people like you to help them sell things, so they’re happy to work with you as it helps them.
If you get someone to sign up through your special link, the company gives you a commission for telling others about their product. It’s like a little thank-you for your help!
This is one of my favorite jobs where you work alone from home, and what I do full-time!
Click here to get Affiliate Marketing Tips – Free eBook.
15. Flea Market Flipper
Flea market flippers find underpriced items at flea markets, yard sales, and thrift stores, then resell them for a profit. This job requires a good eye for valuable items and the ability to research market value.
Finding items to resell may be one of the best jobs to work alone on this list because we all have things in our house we could probably sell. Plus, there are always things that you can buy for a low price and possibly resell for a profit.
If you are looking for work-alone jobs, this is a great one to look further into.
I recommend signing up for this great webinar, Turn Your Passion For Visiting Thrift Stores, Yard Sales & Flea Markets Into A Profitable Reselling Business In As Little As 14 Days, that will help you learn how to make money by flipping items as well.
16. Sell Printables on Etsy
Creating and selling digital printables on Etsy is a great way to work independently and earn money.
Making printables can also be a pretty hands-off job since you only have to create one digital file for each product, and you can sell it as many times as you like. It’s quite affordable to start because you only need a laptop or computer and an internet connection.
Printables are digital items that customers can download and print at home. They can include things like bridal shower games, grocery shopping checklists, budget planners, invitations, printable quotes for wall art, and patterns.
I recommend signing up for Free Workshop: How To Earn Money Selling Printables. This free training will give you great ideas on what you can sell, how to get started, the costs, and how to make sales.
17. Mechanic
Mechanics diagnose and repair vehicles, working independently or in small shops. Strong problem-solving skills and knowledge of automotive systems are important.
Being a mechanic is a job where you often work on your own. While they might work in a garage with other mechanics, they often have their own tasks to do. They need to be really careful and pay close attention to make sure everything gets fixed just right.
18. Dog Treat Baker
Do you really like dogs? If you do, here’s a way to work mainly alone and make an extra $500 to $1,000 or even more each month.
You don’t need to know how to bake beforehand, because you can learn this skill. You can make special treats like cupcakes, cookies, cakes, and more, all for dogs.
You can sign up for this free training workshop that shows how to start a dog treat bakery.
You can learn more at How I Make $4,000 Per Month Baking Dog Treats (With Zero Baking Experience!).
19. Amazon Seller
Selling items on Amazon is a job where you work alone (mostly) and don’t have to deal with customers face-to-face.
Even if you’re new to selling on Amazon, you can make money by selling household goods, books, electronics, and more.
If you’re interested in learning about starting an Amazon business, you can join this free training that will teach you how to sell products on Amazon and make around $100 to $500+ each day.
20. Stock Photo Photographer
Stock photo photographers work on their own, and this job can be done without talking to anyone for the most part. Almost all of the tasks can be done with just a camera and then uploading photos on a site.
Stock image sites are some of the most popular ways for photographers to sell their pictures. These are sites where customers can buy pictures for websites, TV shows, books, social media accounts, and more. There are stock photos that I have purchased within this blog post that you can take a look at to see an example.
One great thing about stock photo sites is that they can be a great form of passive income. You can take pictures, upload them, and earn money from an older photo for months or even years in the future. There is no need to talk to anyone as everything is online and mostly automated.
Some stock photo websites include Shutterstock, iStock, DepositPhotos, and Dreamstime.
Recommended reading: 18 Ways You Can Get Paid To Take Pictures
21. Social Media Manager
Social media managers post on social media accounts for businesses and their goal is to bring in new customers and help a business grow.
Social media managers may post a picture or a video of a product or the company, join in a viral trend to get more views (such as on TikTok), answer common questions from customers, and more.
This includes social media platforms such as TikTok, Pinterest, Instagram, Twitter, and Facebook.
Salary can vary, and this job can be done part-time or full-time.
22. Landscaper
A landscaper improves and maintains outdoor areas, such as by taking care of the lawn, planting flowers, or even renovating a whole outdoor area (such as to make it more enjoyable to sit outside and have company).
If you’re interested in jobs where you work alone outside, this is one to consider as you will be outdoors and working on your own a lot. Customers may talk to you occasionally, but you are mostly by yourself.
Landscapers work at houses, apartment complexes, businesses, or somewhere else.
23. Data Entry Clerk
Data entry clerks enter, update, and check information in databases or spreadsheets. They type information such as numbers and names into computers to keep things organized and recorded.
This job can sometimes be done remotely and alone, with minimal supervision or interaction with customers.
Data entry jobs typically pay around $15-$20 an hour.
24. Editor
Editors review and improve written content for clients and they usually work on their own as most of their time is spent editing content.
Their job is to read articles, blog posts, advertising, books, and more to make them better. They fix any mistakes in grammar or spelling and help the words flow smoothly.
Editors typically earn anywhere from $40-$60+ an hour.
25. Freelance Writer
Freelance writers write content for clients, such as blog posts, advertising, and more. Freelance writing jobs where you work by yourself are common as you’ll be given a topic to write about from the client, and when you are done you may be given some feedback (such as paragraphs to improve or add to). But, that is usually as much human interaction as you’ll get if you want.
You can find different writing jobs on platforms like Upwork and Fiverr, or even find clients on your own.
I was a freelance writer for many years before switching to working full-time writing here on Making Sense of Cents. It is a great career path where you can work from home mostly by yourself.
Recommended reading: 14 Places To Find Freelance Writing Jobs – (Start With No Experience!)
26. Translator
Translators convert written content from one language to another, requiring fluency in at least two languages. Freelance and remote opportunities are available.
If you know another language, you might be able to find a work-from-home job where you can earn money by reading books and translating them. Another option is to get paid for proofreading or editing translated books to ensure they read smoothly and accurately.
There are lots of places you can find translation jobs, such as UpWork, Babelcube, Today Translations, Ulatus, Fiverr, and more.
27. Computer Programmer
Computer programmers write and maintain computer software, often working alone on projects.
They use coding to tell computers what to do and create all sorts of things like apps, games, and websites.
28. Canva Template Designer
Creating and selling Canva templates online allows you to work alone.
A Canva template is like a ready-made design that you can use for things like making posters, Pinterest pins, ebooks, or presentations. It’s like having a helpful starting point if you’re not super good at designing things from scratch. Canva templates come with empty spaces where you can put in your own words and pictures and you can also change colors and fonts to make them just how you like. They’re really helpful for people who want their things to look nice without spending a lot of time on it.
Making and selling Canva templates can be a great way to earn extra money as you only need to create them once, and then you can sell them as many times as you like.
Recommended reading: How I Make $2,000+ Monthly Selling Canva Templates
29. Voice Over Actor
A voice-over actor is the person whose voice you hear but don’t see in YouTube videos, radio ads, educational videos, and more.
Voice-over actors many times work right from their own homes!
Voice actors don’t need experience for this job (eventually, it does help, yes). Instead, they need to have a voice that the company is looking for.
Recommended reading: How To Become A Voice Over Actor And Work From Anywhere
30. Truck Driver
Truck drivers are people who move things from one place to another. To do this job, truck drivers need a commercial driver’s license (CDL). This job often involves working by yourself for long hours.
The salary for a truck driver can depend on things like what kind of items they’re moving and the miles they have to drive. Usually, they can make between $45,000 and $75,000 or even more in a year.
31. UPS Driver
UPS drivers deliver packages to people’s homes and businesses. They do this mostly on their own, in their trucks by themselves.
UPS drivers make a good income and they earn about $30-$45 per hour or even more, depending on how many years they have worked at UPS and where they work.
32. Security Guard
Security guards protect property and/or people, and they usually work alone.
A security guard’s salary depends on things like where they work, how long they’ve been doing the job, and what exactly they have to do. Usually, they can make between $25,000 and $35,000 in a year.
33. Self-Storage Facility Owner
Self-storage facilities are where people store their belongings, like boxes of their mementos, vehicles, RVs, and more.
Owning a self-storage business can be a way to make money and run a business with low expenses, plus they typically only have a couple of employees.
Many of the times when I’ve been to a self-storage lot, it’s been just the owner or an employee of theirs working. There are almost no customers either.
Recommended reading: How To Invest In Self-Storage For Beginners
34. Laundromat Owner
Similar to a self-storage business, a laundromat typically does not have very many employees.
Running a laundromat can be a way to make money, with low costs, as most things are automated (the washer and dryer machines do all of the washing).
Recommended reading: Are Laundromats Profitable? How Much Do Laundromats Make?
35. Get Paid To Text
When getting paid to text, you will many times be talking to someone else, but it is all done through text messages.
Some jobs may include:
Text Therapy or Coach
Answering questions, such as if you are a mechanic, doctor, lawyer, veterinarian, home expert, appraiser, computer expert
Customer support
Recommended reading: 28 Ways To Get Paid To Text And Make Money
36. Survey Taker
Taking online surveys and answering questions for focus groups is not a full-time job, but it can be a way to make some extra money.
You share your thoughts and answer straightforward questions, and in return, you can receive cash or rewards such as Amazon gift cards.
The survey companies I recommend signing up for and the best-paying survey sites include:
American Consumer Opinion
Survey Junkie
Swagbucks
InboxDollars
Branded Surveys
Pinecone Research
Prize Rebel
User Interviews – These are the highest paying surveys with the average being around $60.
Recommended reading: 18 Best Paid Survey Sites To Make $100+ Per Month
37. Twitch Streamer
Twitch is a site where you can make money playing video games, talking online in a live stream, and more. A streamer may be able to make money from their own home and all alone. Yes, they do need to be live recording their life, but they are their own boss.
There are many ways to make money on Twitch such as with paid subscriptions, display ads, selling merchandise (like t-shirts and mugs), and more.
Some of the most successful Twitch streamers make hundreds of thousands or even millions of dollars each year, but, it’s important to know that most don’t earn much at all.
Recommended reading: How Much Do Twitch Streamers Make?
38. Litter Cleanup Worker
If you own a business, it’s important to keep your place clean and tidy. Nobody likes to see trash lying around, right?
That’s why some business owners are happy to pay for someone to clean up before their business opens for the day. A clean area makes the place look nice and welcoming for customers.
This business can be started all alone and earnings on average are about $30 to $50 for every hour you work. It’s pretty simple too. You’ll just need a broom, a dustpan, and some tools to help you pick up litter easily. It’s almost like taking a stroll while you work! Plus, you can choose when you want to do it, so it can fit nicely into your schedule.
Recommended reading: How I Started A $650,000 Per Year Litter Cleanup Business
39. Google Rater
A Search Engine Evaluator, also known as a Google Rater, is a person who looks at websites and blogs and gives them a score based on how good and helpful they are for Google.
You don’t need to be a tech expert or have a fancy background for this job. Google actually wants regular people, just like you, to rate websites. Plus, you can do this in your own language. Google works in lots of different countries, so you can help out right from where you are.
Recommended reading: How To Become a Search Engine Evaluator
40. Actuary
An actuary is a financial expert who helps businesses figure out and manage their money-related risks, such as for insurance, pensions, and investments.
They use mathematics and statistics to forecast what might happen and help companies make smarter financial decisions.
Actuaries can earn a good salary, and as they get more experience and pass more exams, they can make even more money. Depending on where they work and how experienced they are, actuaries earn average salaries of anywhere between $70,000 to well over $100,000 each year.
Frequently Asked Questions About Jobs Where You Work Alone
Here are answers to common questions about finding jobs where you work alone.
What are jobs with no interaction?What jobs allow me to work by myself?
Yes, there are jobs where you don’t need to talk to people a lot. For example, being a night shift security guard, a transcriptionist, or a stock photo photographer.
How can I work alone from home?
There are jobs where you can work alone at home such as being a blogger, a transcriptionist, or a computer programmer.
What are jobs where you work alone with no degree?
Many jobs don’t require bachelor’s or master’s degrees (a high school diploma will work for many on the list above) and offer the opportunity to work independently. Mowing lawns, painting houses, repairing cars, or walking dogs often don’t require formal education and focus more on skills and experience.
Which part-time jobs are best suited for solitary workers?
Many of the jobs in this blog post can be done part-time, such as any of the freelance jobs, house cleaning, dog walking, and taking surveys. That is one of the joys of many of the jobs above – you can choose your schedule.
What trade jobs can one perform independently?
Trade jobs that you can perform independently include carpentry, welding, or plumbing. These professions usually require specific skills or certifications but may offer opportunities to work alone.
Are there any tech jobs ideal for people who prefer to work alone?
Yes, there are tech jobs that can work well for people who want to work on their own such as web developers, software engineers, or data analysts. These roles usually involve solving problems and working independently, though there might be some instances where collaboration is needed from time to time.
What jobs can be done in isolation with no experience required?
Jobs such as house cleaning, taking surveys, and flea market flipping can be good places to start for entry-level jobs.
How can I find work-alone job opportunities near me?
To find work-alone job opportunities near you, try perusing local job boards, classified ads, or online sites like Indeed or LinkedIn. You can also network with people in your community or join online forums related to your interests to find jobs.
Jobs Where You Work Alone – Summary
I hope you enjoyed this article on jobs where you work alone.
These jobs are like a safe space for people who like being by themselves. It’s a place where you can really concentrate and do your own thing with low social interaction. Jobs where you work alone often appeal to introverts and individuals who require fewer distractions.
Jobs like writing, coding, and freelancing let you work on your own. Not everyone may like working alone, but for those who do, it can be a lot less stressful and overwhelming.
I have been working mostly on my own for years now, and I really love it!
Colorado Springs is one of the most breathtakingly beautiful places in the country — if not the world. It’s no wonder, then, that so many people want to call this great city home. In fact, nearly 4,000 people moved to Colorado Springs in 2021 alone, an upward trend the city has experienced since 2019.
But it’s not just the beauty of nature (hello, Pikes Peak!) that brings tourists and new residents alike to the area each year. Colorado Springs provides a relaxed atmosphere, a strong sense of community, clean air and exquisite dining and entertainment opportunities. Colorado Springs — and the state of Colorado itself — are also well-known for being extremely health conscious.
If these qualities appeal to you, then you should definitely consider finding an apartment for rent in Colorado Springs. And that leads us to another perk of living in this awesome city — affordable housing. While the overall cost of living is around 3.4 percent above average, rental prices are dropping (by nearly 25 percent in the past year). It’s the perfect time to start looking for an apartment here, but where should you live in Colorado Springs?
Where to live in Colorado Springs, CO
This city has numerous neighborhoods that would fit the needs of many new residents. But what neighborhood is right for you? We want to make the choice of where to live in Colorado Springs easy, so you can take out our interactive quiz to find your ideal neighborhood!
Who’s coming with you?
Which one neighborhood characteristic can you not live without?
What’s your idea of quality downtime?
Which of these best describes your current life stage?
Your personal style could be best described as:
Which of the following is most important to you in choosing an apartment?
Where to Live in Colorado Springs
Downtown
Downtown Colorado Springs is unlike most larger neighborhoods. You won’t find looming skyscrapers that impede your view of the natural beauty of the area. The downtown area is ideal for people who like to live close to work or like more hustle than the suburbs can provide. If you’re a single, young professional or you and your partner want to walk to great restaurants and entertainment, this is the neighborhood for you. During the winter months, park officials of nearby Acacia Park set up an ice-skating rink with loudspeakers that play holiday music. You’ll feel like you’re in a Hallmark Christmas movie. And while there’s a strong sense of history in this neighborhood, there are urban developments and renovation projects that add to the neighborhood’s appeal.
Find Apartments Downtown
Briargate
Image Source: Crowne at Briargate
This neighborhood is part of one of the best school districts in the county. The schools, the quiet of the suburbs and the fun outdoor activities make it a wonderful place to raise your little ones. Briargate is also home to many military families due to its proximity to Peterson Air Force Base. But it’s not all about the kids. There’s something here for every member of the family, including the fun outdoor activities like those available at John Venezia Park. You can picnic, play soccer or go hiking. There are also several great shopping centers, as well.
Find Apartments in Briargate
Old Colorado City
Image Source: 1315 W. Colorado Ave
Situated on the west side of Colorado Springs is one of the oldest, most charming parts of the city. Developers built Old Colorado City in the mid-1800s and in many areas, you can’t tell that anything has changed since then. Homes on the historic registry line the streets. The nearby Ghost Town Museum takes you back in time to the Wild West. Many families live in, and businesses operate out of, old Victorian homes, giving this neighborhood even more charm. High-scale shopping, entertainment and dining are nearby, as Downtown Colorado Springs is less than three miles away.
Find Apartments in Old Colorado City
Pikes Peak Park
Pikes Peak Park is ideal for people who love the great outdoors and animals. There are multiple parks and green spaces for families and their pets to play, including Van Diest Park and the Leon Young Youth Sports Complex. The neighborhood itself is large and sprawling. While you can find some modern apartment complexes in the area, you’ll also find a high number of single-family homes. Residents here appreciate the gorgeous views of Pikes Peak and Cheyenne Mountain, as well as the mature trees that add to the beauty of the neighborhood.
Find Apartments in Pikes Peak Park
Norwood
Image Source: 3919 Diamond Ridge View
This small, mountain town has plenty of wide-open spaces to roam around and explore. Some of the outdoor fun includes fishing, hunting, biking, hiking and skiing. Residents here say one of the main things they appreciate about Norwood — aside from the natural beauty, of course — is their neighbors. Norwood is home to some of the nicest people you’ll ever meet. Norwood is a small neighborhood with a grocery store, bank, gas station, a medical and dental clinic and some churches. But there are also some great dining opportunities, as well. For example, Norwood residents are over the moon about I-Cool Thai Ice Cream Shop, Edelweiss German Restaurant, Bada Japanese Restaurant and Frankly Coffee.
Find Apartments in Norwood
Broadmoor
Image Source: 17 Alsace Way
Broadmoor has plenty of opportunities for hiking and biking, whether you just love spending time in the great outdoors or you’re looking for fresh ways to stay in shape. This neighborhood is also home to The Broadmoor, a resort and hotel that’s one of the largest and most luxurious in the state. It has 10 restaurants and numerous shops on-site. The Broadmoor has been the temporary resting place of celebrities over the decades, too. The building, which is over 100 years old, is truly a sight to behold, making this a top tourist destination.
Find Apartments in Broadmoor
Northgate
Image Source: 1352 Lookout Springs Dr
Northgate is about 14 miles away from Downtown Colorado Springs, but the commute is much faster and easier due to the close proximity to the interstate. The neighborhood boasts movie theaters, great restaurants and plenty of green spaces. You’ll find some great shopping centers, as well. Several brewpubs, cafés and international restaurants feed the residents of Northgate, too. Like Briargate, the upscale neighborhood of Northgate is within the bounds of one of the top school districts in the county, making it a great place to raise your kids.
Find Apartments in Northgate
Ivywild
Image Source: Elevate Apartments
Ivywild, a neighborhood in the southern part of Colorado Springs, is one of the city’s oldest working-class communities. The suburban neighborhood is primarily single-family homes and medium-sized apartment complexes. Since 2011, developers have started renovating older buildings and plan to renovate and build new structures until at least 2036. Ivywild has a fun, quirky personality. The Principal’s Office is an artisan coffee and cocktail bar located in an old school. You’ll also find multiple pubs, cafés and shops, including the Oak Whiskey House.
Find Apartments in Ivywild
Rebecca Green is a content editor and writer for RentPath. She enjoys interior design, dogs and can tell you where to find the best pizza in Brooklyn. You can see some of her other published work on Apartment Guide.
If you’re in the market for purchasing a new home or taking on a business loan or personal loan, you’re likely finding it difficult to score the almost-2% APR we saw in 2020. That’s becausethe Federal Reserve has been hiking interest rates since March 2022 in an effort to cool inflation.
“The Fed has two objectives: To keep inflation low, their current obsession, and to keep unemployment low, which is of current lesser concern,” says Amy Hubble, a certified financial planner who has a Ph.D. in consumer economics. “In practice, this means they lower rates to incentivize growth and hiring, and raise rates to combat inflation when the economy gets overextended. This leads to a policy teeter-totter meant to balance out economic activity in the US.”
So the question remains: When will we finally see interest rates start to come down? CNBC Select asked three experts to give their take on what lies ahead for interest rates. Here’s what they had to say.
What we’ll cover
When will interest rates come back down?
Nobody outside of the Federal Open Market Committee (FOMC), the 12 men and women tasked with setting target interest rates, can predict with any certainty what will happen with rates and when. But that hasn’t stoppedeconomists like Preston Caldwell, a senior U.S. economist for Morningstar Research Services LLC, from making their own educated guesses.
“I think rates will start cutting in early 2024,” Caldwell says. “I think inflation will be nearing the Federal Reserve’s 2% target at that phase and the economy will show signs of slowing, but it’s hard to predict.”
Other professionals in the space echo a similar vision. Hubble points to a recent FOMC report that includes committee members’ projections on gross domestic product (GDP) growth, inflation and the unemployment rate — all factors the Fed will weigh when deciding how aggressively to cut rates.
“All FOMC members believe that rates will be stable or higher through 2023 before slowly coming down in 2024–2025 to settle at a comfortable 2.5% for the longer-term,” she says.
Elliot Eisenberg, the Chief Economist at Graphs and Laughs agrees. “There was a belief that once the second half of 2023 came around, rates would’ve been lower than they were at the end of 2022,” he says. “But it hasn’t come down. These things take a long time to work their way through the economy, so sometime in 2024 sounds about right.”
However, he also warns that it’s hard to believe that we’ll see any interest rate cooling in 2023.
Subscribe to the CNBC Select Newsletter!
Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here.
What should you do when interest rates go down?
Lower interest rates make borrowing money cheaper. That means all other factors (like your credit score) being equal, you’ll generally pay less in interest on anynewstudent loans, personal loans, business loans and mortgages than you would during today’s high-rate environment. Existing loans with a variable rate may also start charging less interest as the Fed lowers interest rates.
That’s why waiting until interest rates come down beforeborrowing money for alarge purchase — like a home — can be easier on your bank account. The current average mortgage interest rate on a 30-year loan is 7.98% even for borrowers witha credit score between 700 and 719. That’s a tough pill for a first-time homebuyer to swallow month after month as they pay their mortgage.
However, if holding off on getting a mortgage isn’t doable for you, make sure you improve your credit score before applying so you can qualify for an interest rate that’s as low as possible. Also consider choosing a mortgage lender that helps you save money throughout the process. Ally Bank, for instance, doesn’t charge any lender fees. And if you qualify for a Navy Federal Credit Union mortgage, you can get a home loan with no private mortgage insurance (PMI) requirements even if you make a down payment of less than 20%.
Ally Home
Annual Percentage Rate (APR)
Apply online for personalized rates; fixed-rate and adjustable-rate mortgages included
Types of loans
Conventional loans, HomeReady loan and Jumbo loans
Terms
15 – 30 years
Credit needed
Minimum down payment
3% if moving forward with a HomeReady loan
Terms apply.
Navy Federal Credit Union
Annual Percentage Rate (APR)
Apply online for personalized rates
Types of loans
Conventional loans, VA loans, Military Choice loans, Homebuyers Choice loans, adjustable-rate mortgage
Terms
10 – 30 years
Credit needed
Not disclosed but lender is flexible
Minimum down payment
0%; 5% for conventional loan option
You can also refinance your mortgage down the line during a lower interest rate environment so you can score a better rate on your loan. PNC Bank is one of the most accessible lenders because it has locations in all 50 states and customers can apply both online and in-person.
PNC Bank Mortgage Refinance
Annual Percentage Rate (APR)
Apply online for personalized rates; fixed-rate and adjustable-rate mortgages included
Types of loans
Fixed-rate, adjustable-rate, FHA loans, VA loans and jumbo loans
Fixed-rate Terms
10 – 30 years
Adjustable-rate Terms
Available in periods of 7 and 10 years for a fixed rate, followed by an adjustment period when the interest rate may increase or decrease on an annual or semi-annual basis
Credit needed
Not disclosed
Pros
Refinance available for primary and secondary homes, and investment properties
Offers a wide variety of loans to suit an array of customer needs
Offers refinancing for VA and FHA loans
Available in all 50 states
Online and in-person service available
Cons
Doesn’t offer home renovation loans
Lower interest rates can also have an impact on the APY you earn on your high-yield savings account. While buying a house or taking out a personal loan becomes more affordable during lower interest rate environments, you typically can’t earn as high an interest rate from the money in your deposit accounts.
That’s becausebanks use the Fed rate as a benchmark for yields on savings accounts. So when the Fed rate falls, the interest rate on your high-yield savings account will likely also decrease. Right now, some high-yield savings accounts, like the UFB High Yield Savings Account, are offering more than 5% APY on account balances.
UFB High Yield Savings
UFB High Yield Savings is offered by Axos Bank, a Member FDIC.
Annual Percentage Yield (APY)
Earn up to 5.25% APY
Minimum balance
Monthly fee
Maximum transactions
No max number of transactions; max transfer amounts may apply
Excessive transactions fee
Overdraft fee
Overdraft fees may be charged, according to the terms, but a specific amount is not specified; overdraft protection service available
Offer checking account?
Offer ATM card?
Terms apply.
Even though we’re unlikely to see sky-high APYs stick around after the Fed lowers interest rates, it’s still worth keeping your money in a high-yield savings account even in a lower-rate environment. You’ll still grow your money faster in a high-yield account than with most traditional savings accounts, and it provides a safe, FDIC-insured place to keep your emergency fund.
Bottom line
According to experts, we aren’t likely to see significantly lower interest rates this year, but 2024–2025 is likely to see more progress on that front. Lower rates can make life easier for individuals who have been waiting to buy a house or take on other types of loans, even if savers won’t enjoy the high APYs that thrive in a world of high rates.
Meet our experts
At CNBC Select, we work with experts who have specialized knowledge and authority based on relevant training and/or experience. For this story, we interviewed:
Preston Caldwell, a senior U.S. economist for Morningstar Research Services LLC.
Elliot Eisenberg, a chief economist and Graphs and Laughs.
Amy Hubble, a CFP with a Ph.D. in consumer economics.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of personal finance. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best mortgage lenders and high-yield savings accounts.
Catch up on CNBC Select’s in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
Cybersecurity, Warehouse, Accounting, Marketing Tools; New Broker Products; CFPB Co-Marketing Case
<meta name="smartbanner:author" content="We now have a native iPhone and Android app. Download the NEW APP”>
This website requires Javascrip to run properly.
Cybersecurity, Warehouse, Accounting, Marketing Tools; New Broker Products; CFPB Co-Marketing Case
By: Rob Chrisman
Fri, Sep 15 2023, 8:34 AM
“Happy” 15-year anniversary of Lehman Brothers going belly up. “I was struggling to understand how lightning works and then it struck me.” One of the conversation topics here at the NAMMBA event in Orlando is how Florida has its share of estimated lightning strikes every year. (As does the rest of the nation: here’s a link to an interesting real-time map.) Another topic is Florida’s Senate Bill 264 which prohibits the direct or indirect ownership of specific categories of real estate by “foreign principals” from a foreign “country of concern,” defined as the People’s Republic of China, the Russian Federation, the Islamic Republic of Iran, the Democratic People’s Republic of Korea, the Republic of Cuba, the Venezuelan regime of Nicolás Maduro, or the Syrian Arab Republic… The Statute prohibits the acquisition of (1) any interest in agricultural land by a foreign principal, (2) any interest in real property located near a military installation or critical infrastructure by a foreign principal, and (3) any real estate interest by a foreign principal of the People’s Republic of China, subject to very limited exceptions. There are challenges, of course. (Today’s podcast can be found here and this week’s is sponsored by SimpleNexus, an nCino Company, and award-winning developer of mortgage technology for modern lenders. Hear an interview with Simple Nexus’ Lori Brewer on areas in the mortgage space that technology and innovation will impact most.)
Lender and Broker Software, Products, and Services
“Our latest blog, ‘FEMA, Floods, Fires, and Funding, Oh no!’, highlights the early impact of this year’s hurricane season, blustered by Idalia’s trail of destruction and fanned by the Maui fires. This year packs a bigger punch as FEMA, the primary lifeline for relief, faces serious funding concerns that have led to restrictions on access to assistance. Where does this leave homeowners and servicers who face more disasters before yearend? Servicers, it’s time to evaluate your workflow automation, ensuring distressed borrowers have immediate access to relief and that your operations are streamlined accordingly. CLARIFIRE® delivers the speed, accuracy, and results that servicers need to succeed in the face of the volumes and complexities of all the parties involved. Arm your servicing team when disaster strikes with CLARIFIRE, delivering better results, better software, and BRIGHTER AUTOMATION®.
It used to be that our postal mailboxes were stuffed with all kinds of marketing materials. It still happens today of course, but mostly in our online mailboxes instead. But one thing has stayed the same: marketing still needs a special spark to stand out in a crowd, and that’s why utilizing a far less crowded medium might now be the “old-is-new-again” way to reach your prospects. Not to mention, it’s also one of the best ways for mortgage professionals to make a lasting impression on homebuyers during the holidays! Connect with the ICE team to learn how easy it can be to start with Surefire℠ CRM and Mortgage Marketing Engine.
More than ever, mortgage brokers and correspondents need a lending partnership that empowers them to exceed client expectations with elite service, speed, and simplicity. Rocket Pro TPO’s technology team delivered Pathfinder, the most powerful technology ever for brokers, created in partnership with Google. Combining multimillion-dollar AI and machine learning tech, it’s a first-of-its-kind centralized platform, right at your fingertips, 24/7/365. Also, their partners outpace the competition by leveraging Rocket Connect portal technology which connects brokers to the right team right away, including operations leaders for any question or escalation need. Their industry-leading Pricing Calculator quickly produces loan options to share with clients using Clear Quote, an easy-to-download PDF. To learn more, watch EVP, Mike Fawaz discuss more details. Interested in learning more about a Broker or Non-Delegated Correspondent partnership? Contact Rocket Pro TPO.
In challenging down economic times, Loan Vision is your solution to maximizing profitability and reducing costs in your business. With Loan Vision, companies see improvements of 25 to 35 percent decrease in days to close the books, 20 percent reduction in accounting headcount, complete LOS to G/L automation, and improved reporting and visibility that allow for better business decisions. Don’t accept a competitive disadvantage or get caught flat footed in a recovering market. To improve your cash position, gain a competitive edge, and prepare your business for sustained growth, contact Carl Wooloff to schedule a call today.
“Mortgage Industry Veterans Announce Fund It, New Startup Venture to Automate Warehouse Lending. Fund It is redefining how the mortgage industry manages its warehouse banking processes. Most IMBs still handle their warehouse funding manually. The Fund It platform, built with AI-powered algorithms, provides an automated warehouse lending solution. View capital needs projections in the next 30 to 60 days, eliminate human data errors, and access robust reporting tools that drive data-driven decisions. It also seamlessly integrates with many popular mortgage tools that IMBs currently use. Fund It’s platform tracks fundings, collateral administrations, and loan purchases. It also pinpoints cost leakages. These features help IMBs save time and increase profit on every warehouse-funded mortgage loan. FundIT optimizes every element of an IMB’s warehouse lending process. Use Fund It to enjoy higher profits by automating a traditionally manual-heavy process. Visit our website to learn more how to manage your company’s warehouse funding operations.”
Click links, ask questions later. The most common attack vector for a cyberattack is the human element. It’s what phishing emails, phone calls and text messages all have in common. Yet while it’s the weakest link, the human element could be your organization’s greatest prevention layer if trained correctly. In an industry that incentivizes people based on sales goals, every mortgage lead has bottom line potential. And in the current market, it’s only human to go after leads without stopping to consider their legitimacy. But recent data shows just how risky clicking without thinking can be. According to ISACA, in 2022 social engineering (tricking humans) was the #1 attack vector, and even the best teams are vulnerable. Learn how to do a better job at testing and training your team to identify legitimate leads. Talk to Richey May’s cybersecurity experts for help assessing and defining your cybersecurity training needs.
The CFPB and Co-marketing
Ken Perry with the Knowledge COOP writes, “The Freedom mortgage case should capture the attention of every mortgage broker, lender, and real estate agent. This is the biggest statement the CFPB has made about their feelings on co-marketing in a long time! The fact that they targeted a mortgage company providing free open house flyers, and free access to a subscription they pay for is huge because these arrangements exist in so many mortgage companies, including wholesale lenders, and rarely does the referring entity have to pay for these things. This is truly a case of, ‘if everybody is doing it then is it even wrong?’ Well, it looks like the CFPB has answered that question. Now we wait and see if $1.75 million was enough of a deterrent to force people to look at their business practices and make some immediate changes. These settlements usually come in groups. I can’t help but wonder if we will see more soon…”
Capital Markets
Much like the Consumer Price Index on Wednesday, the Producer Price Index report for August came in above expectations yesterday (0.7 percent versus consensus 0.4 percent). Other data on the day also included better than expected August Retail Sales (0.6 percent month-over-month, largely due to gasoline stations), and a smaller than expected increase in weekly jobless claims. Low jobless claims reflect a fairly tight labor market, which helps to explain why consumer spending continues to hold up in the face of inflation pressures and rising rates.
On the central bank front, the European Central Bank raised interest rates for the 10th consecutive time, to 4 percent, as President Lagarde signaled a shift that could mean the peak has been reached, though she insisted that she can’t yet say if that’s the case. As far as our Fed, there is zero likelihood the central bank is going to signal they’re done hiking rates at the conclusion of the FOMC meeting next week.
Despite all the major events over the past couple days that have influenced bonds, including the beginning of an auto worker’s strike last night, today’s calendar also has some market moving potential. We’ve already received Empire manufacturing, import prices (-3.0 percent, ex-gas flat), and export prices (-5.5 percent from the prior year). Later this morning brings August industrial production and capacity utilization, and preliminary September Michigan sentiment that includes inflation expectations. We begin the day with Agency MBS prices worse .125 from Thursday evening, and the 10-year yielding 4.32 after closing yesterday at 4.29 percent; the 2-year is up to 5.03.
Employment
Crescent Mortgage Company, a subsidiary of United Bank, named “Most Trusted Bank in America” for 2023 by Newsweek, is celebrating its 30th anniversary and rapidly expanding its retail division in the southeast. We welcome ambitious Loan Originators seeking growth and unparalleled support. Seasoned veteran David Rapson, CMB serves as SVP – Retail Lending, guiding us to new heights. President and CEO Fowler Williams, CMB emphasizes our unique commitment to allowing originators to do what they do best, originate loans, we will handle the rest! Backed by advanced technology and curated product offerings including agency, 1X close construction or renovation, low down payment options, non-QM, as well as unique portfolio offerings, Crescent has built a platform for Loan Officer success, a platform for you. Join our journey. Experienced Loan Originators or Branch Managers, explore possibilities by contacting David Rapson to elevate your success. The future is bright at Crescent Mortgage.
Supreme Lending is pleased to announce Rachel Saylor Brown as its newest Producing Tampa Bay Area Manager. Leveraging 10 years of remarkable industry experience, Brown will steer Supreme’s Florida expansion strategy, together with her husband Chris Brown, and a best-in-class team: Kaitlin Schiro, Nancy Myrick and Anna Livingston, all seasoned mortgage professionals. Rachel and her team are known for providing exceptional client experiences through transparent communication, meaningful relationships, and industry-leading technology. Supreme Lending is thrilled to welcome her to the team!
“Revolutionize Your Leadership: Meet Your Visionary Executive! Are you on the hunt for a C-suite dynamo to steer your organization to new heights? Look no further! I am a strategic powerhouse primed to tackle the role of President, CEO, COO/CSO. With a proven track record in strategy, team building, P&L mastery, and agile execution, I’m all about results, not magic. My extensive network includes GSE’s, investors, regulators, vendors, PE sources, and compliance experts. My experience spans Mortgage, Insurance, Tech and more. I don’t just lead; I innovate. I seamlessly integrate tech into strategy diversifying revenue streams while boosting traditional sales. Fintech? Consider it a bonus. Comfortable with boards and stakeholders, I’m a goal-driven, creative problem solver and an adept communicator. West Coast-based, but I’m open to relocation or remote work. Ready to transform your organization? Email Chrisman LLC’s Anjelica Nixt today for more details and a game-changing connection.
Download our mobile app to get alerts for Rob Chrisman’s Commentary.
Share via Social Media:
All social media shares will include the image and link to this page.
This article is reprinted by permission from NerdWallet.
Mortgage rates have risen to their highest levels in more than 20 years, making it harder to afford a home. And yet, out of necessity or desire, hundreds of thousands of people buy homes every month.
With the 30-year fixed rate topping 7%, NerdWallet asked real estate agents and mortgage loan officers for advice on how home buyers can stretch their homebuying dollars in this time of high interest rates. Here are nine tactics that they suggested.
1. Ask the seller to reduce the mortgage rate
Temporary mortgage rate buydowns have become commonplace since rates surged in early 2022. With a temporary rate buydown, the seller pays a portion of the buyer’s interest payments upfront. This reduces the house payments for the first one, two or three years of ownership.
“This is a common strategy for new-home builders, but it can also be used in the purchase of resale homes,” said John Bianchi, executive vice president for loanDepot. (All sources in this story commented via email.) “Negotiating a temporary buydown with the seller can help soften the blow of high interest rates, reducing your monthly payment for one to three years.”
In one typical setup, the seller’s payment effectively cuts the buyer’s interest rate by 2 percentage points in the first year, and by 1 percentage point in the second year. After that, the buyer pays the full interest rate. This is known as a 2-1 buydown.
Another option is to reduce the mortgage rate permanently, using discount points. One discount point equals 1% of the loan amount; each point typically reduces the interest rate by around 0.25 percentage point.
“Home buyers have an opportunity to get a seller to pay for these methods to lower their interest rate,” said Chuck Vander Stelt, a real estate agent in Valparaiso, Indiana. “Some home buyers should seriously consider offering a more generous price to the seller in exchange for a large closing cost concession and then use those funds to buy down the interest rate as much as possible.”
Also see: Avoiding the 30-year mortgage loan trap can save you hundreds of thousands of dollars
2. Use part of your down payment to pay down debt
When you apply for a mortgage, the lender considers your total debt payments for the house, car, student loans and credit cards. Sometimes it makes sense to divert some of your intended down payment money to cut the higher-rate debt first, said David Kuiper, vice president and senior mortgage banker for Dart Bank in western Michigan.
“While the mortgage payment will be slightly higher, the total debt/payments is lower, making the proposed purchase more affordable,” Kuiper said.
3. Use home buyer assistance programs
State and local governments sponsor an abundance of programs to make homes affordable for home buyers, especially first-timers. Some programs offer down payment assistance and help with closing costs. Others offer favorable interest rates or tax credits.
Details differ from state to state. Some programs are targeted to certain counties, cities or neighborhoods. Others are intended for specific groups of people, such as teachers, first responders or renters who live in public housing. Some programs have income limits.
Don’t miss: We bought a falling-down 100-year-old home. We tried to renovate, but things took a turn for the worse.
4. Ask the seller to finance the purchase
You can give the seller an IOU for part of the home’s value and make monthly payments directly to the seller at an interest rate that’s lower than you could get from a bank. This arrangement is called “seller financing” and has its roots in the early 1980s, when mortgage rates zoomed as high as 18%.
You might wonder why a seller would agree to such a deal. “They will often do this in order to get the price they want,” said Janie Coffey, who leads the Coffey Team with eXp Realty in St. Augustine, Florida. The seller gets full price while you get a break on the interest rate.
Seller financing usually has an end date: Within three, five or 10 years, the buyer must get a mortgage from a lender to pay off the amount owed to the seller. Coffey explained that the type of seller open to this arrangement often has paid off the mortgage “and is OK to wait for their big payoff.”
Seller financing is complex. Use an experienced real estate attorney to draw up the contract.
Related: How the U.S. housing market got stuck in the ’80s
5. Don’t wait for a rate you like better
“If the right house comes along and the payment is affordable (even if you don’t like the interest rate), you should buy the house,” Kuiper said.
You often hear that you should buy now and refinance someday, after interest rates fall. That’s not Kuiper’s point. His point was this: If mortgage rates fall, more buyers will rush into the market. They’ll make competitive offers and drive home prices higher, “essentially wiping out any advantage of the lower interest rate.”
6. Don’t get distracted by things you don’t need
Some sellers want flexibility about the closing date, would prefer the buyer to make repairs, and are scared of accepting an offer from a buyer who ends up failing to qualify for the mortgage.
Vander Stelt advises staying focused on price with these hassle-avoidant sellers, while being flexible on the rest of the offer on the house. “Do this by offering the best terms you can, including buying the home as-is, a closing date and possession that works best for the seller, and illustrating how strong of a candidate you are to get your mortgage approved,” he said.
You can demonstrate that you’re a strong mortgage candidate by showing a preapproval letter and by sharing financial information, such as account balances that prove you have the cash for the down payment.
7. Buy a house that needs work
Buying a fixer-upper is an old-fashioned, time-tested way to save money. “If you can be patient, it’s worth buying a home that needs work and slowly fixing it up over time or taking a renovation loan to acquire the home and do the work upfront,” said Brian Koss, regional sales director for Movement Mortgage, in Danvers, Massachusetts.
Read: Should you buy a fixer? These are the 5 cheapest states to make home renovations.
8. Build a house or buy a brand-new one
“Building a new home can provide more certainty around how long you will have to wait to move in, it can provide more cost certainty, and it can save you money in the short and long term by avoiding costly remodels, appliance repairs and unexpected repairs of older parts of the home,” said Jeffrey Ruben, president of WSFS Mortgage in the Greater Philadelphia area.
Buying a new home in a development has some of the same advantages. And today’s buyers have good reason to shop for new construction because there’s a shortage of existing homes for resale.
Read: U.S. construction spending rose in June, marking seventh straight monthly increase
9. Rent out part of the house
Coffey suggested using an old strategy with a trendy name — house hacking — “buying a property like a duplex, where you live in one unit and rent out the other,” she said.
If you buy a duplex, triplex or quadplex, and you live in one unit, you can include the expected rental income for the others when qualifying for a loan. In some cases, you can qualify for a mortgage using expected rental income from an accessory dwelling unit, such as a basement apartment or a tiny house in the backyard.
Also see: Homeowners locked into ultralow mortgage rates consider short-term rentals, but cities are cracking down
If you buy a home today, you’re stuck with high mortgage rates for the time being. But by employing some creativity, you might find a way to afford homeownership.
More From NerdWallet
Holden Lewis writes for NerdWallet. Email: [email protected]. Twitter: @HoldenL.
If you’re itching to make improvements to your home with hopes of upping your resale value, you may be tempted to renovate your bathroom, kitchen or closets. Although these updates can increase buyer appeal, as well as add to your own enjoyment of your abode, the return on investment for these projects typically is low.
The home improvement projects that will pay back the most aren’t as glamorous, but you’ll recoup more of the expense when you sell your home.
Here are the five projects that offer the most value by boosting your home sale price and allowing you to recover most of the money you spent—possibly even more than you spent—according to the 2015 Remodeling Impact Report by the National Association of the Remodeling Industry and the National Association of Realtors.
1. Replacing your roof
Although putting a new roof on your home may not feel quite as satisfying as upgrading your kitchen appliances or installing a shiny new spa tub, it’s the home improvement with the best return on investment, according to the report. Homeowners who replace their roof can expect to recoup 105% of the value, meaning they’ll actually make money on this project.
The NARI estimates you’ll spend $7,600 to tear off an old roof on a 2,450-square-foot, two-level house; install laminated, architectural asphalt shingles; place new flashing around pipes and chimneys; and install a new ridge vent. The project isn’t cheap, but you can recover $8,000 in costs for your effort.
There’s no need to replace a perfectly good roof, but if yours has wear and tear, it could be a good investment before you sell.
2. Refinishing your hardwood floors
The home renovation project with the second-highest ROI is refinishing your hardwood floors. Transforming dull, scratched wood floors into shiny, good-as-new flooring is a great deal: Homeowners typically recoup 100% of the expenses.
Freshening up scuffed wood flooring in an 18-by-20-foot family room costs approximately $2,500, the NARI estimates, which includes sanding floors to bare wood, refinishing them with polyurethane and adding new matching baseboards. Because homeowners typically are able to gain back the full value of this project when selling their home, it’s a worthwhile project.
3. Upgrading your insulation
An insulation upgrade offers the third-best potential for recovering the value of the project, at 95%. Expect to spend about $2,100 for adding 10 inches of blown-in cellulose insulation to your attic, according to NARI estimates, but you’ll recover approximately $2,000 of that cost. And you’ll lower your energy bills by upgrading your insulation.
4. Installing wood flooring
The NARI estimates that it costs homeowners $5,500 to replace worn carpet with new, solid oak flooring and baseboards in an 18-by-20-foot room. But the value recovered is $5,000—91% of the expense—making it the home improvement project with the fourth-highest ROI. Although you won’t regain the full value when you sell your house, new wood floors can significantly improve the look of your home, boosting buyer appeal.
5. Replacing your garage door
Replacing a creaky, slow garage door with a new one also has relatively high value for homeowners. You won’t recover the full value of the upgrade, an estimated $2,300, but you’ll gain back 87%—that’s $2,000—when you sell your home, the NARI estimates.
Next steps
If you’re ready to kick off some of these projects but don’t have enough cash in your bank account, a cash-out refinance is one way to fund home upgrades. Try NerdWallet’s refinance calculator to see whether that option makes sense for you.
The “Brady Bunch” house, renovated by HGTV, has sold for more than $2 million below its original asking price.
After spending the summer on the market, the Studio City property just closed escrow. Historic home enthusiast Tina Trahan, whose husband, Chris Albrecht, was once chief executive of HBO, scooped up the sitcom gem for $3.2 million.
In May, after purchasing the home for $3.5 million in 2018 and overhauling it in the series “A Very Brady Renovation,” HGTV listed the groovy digs for $5.5 million.
As to why HGTV accepted an offer more than $2 million below asking (and $300,000 shy of what it paid in 2018), Compass’ Danny Brown, the listing agent on the property, told The Times in an email, “This is a one of kind property which was impossible to comp. This is not a home anyone would ever live in.” Savvy investors, he said, understand that laws governing short-term rentals are “nuanced and restrictive,” limiting the value of the property for that use.
“We felt the property was worth about $3M – $3.5M and that’s exactly where it landed because there are no intellectual property rights that are included in the sale,” Brown said.
Built in 1959 with Late Modernist architecture, the house was used only for exterior shots during the sitcom’s five-season run from 1969 to 1974, followed by decades of syndication that cemented the mixed family of eight in the annals of American pop culture.
When HGTV bought the home, its interior bore no resemblance to the place where audiences watched the Brady children grow up. Scenes shot inside the Brady residence were filmed on sets built on Soundstage 5 at Paramount Studios in Hollywood.
In 2018, HGTV looked to meld the two realities and bought the house at 11222 Dilling St. for nearly double the original asking price. The channel outbid Hollywood celebrities, including former ‘N Sync member Lance Bass.
The network spent an additional $1.9 million to re-create the TV home where America came to know Mike, Carol, Greg, Marcia, Peter, Jan, Bobby and Cindy Brady. HGTV even added a second story to accommodate all the rooms that were seen in the show.
Advertisement
HGTV documented the process on “A Very Brady Renovation,” which featured the six actors who played the Brady children. The cast, alongside HGTV hosts Drew and Jonathan Scott, worked to gut the house while the crew painstakingly reproduced the set’s rooms and 1970s decor — down to the cabinet hardware. The online listing for the house invited buyers to “own a piece of pop culture history” and showed images of its detailed and polished 5,140-square-foot interior, which has five bedrooms and five bathrooms.
HGTV said the home came equipped with “many of its contents, including customized pieces such as the green floral living room couch and the credenza with a 3-D printed horse sculpture.”
“HGTV spent about $5.5M+ purchasing and gutting the house which is why we listed it at $5.5M even though we knew it was an aspirational list price,” Brown said via email. “By the way, HGTV did fine making revenue on ‘The Very Brady Renovation’ show and several other ancillary revenue streams. As for my brother from another, Lance Bass, perhaps third time’s the charm?”
Times staff writer Jonah Valdez contributed to this report.
Deciding whether to transform your current house into your ideal home or start over with a fresh new space requires careful thought and consideration. There are two options to consider — stay and renovate or move to find something more suitable for your needs. This choice may make some people feel like they are at a crossroads.
Here are some steps you can take to help guide this important decision.
Get an Idea of How Much You Can Afford
If you’re considering moving, it’s important to understand how much of a mortgage you’ll qualify for and how much you can afford to spend on your new home. Connecting with a lender like Pennymac is a great first step. Our Home Connect resource can help set you up for success if and when you’re ready to begin your home search. Explore mortgage options, get BuyerReady Certified and receive advice from trusted real estate professionals.
Get a Comparative Home Analysis
Ask a realtor to provide you with a comparative home analysis to estimate the value of your current home. Determine if your home’s features align with your desires and needs. For example, do you need an extra bedroom to accommodate a new member of the household or your new work-from-home plans?
Understand Your Location Limits
Do you love where you live right now? Suppose you adore your neighborhood or town, but your house just isn’t appropriately sized for you and your loved ones. In that case, consider adding on to your house, whether that’s another bathroom or a second story.
On the other hand, If you have children, you may weigh the desire for a new school district with better academic programs. Or maybe you want to move closer to work. It really boils down to what your main priorities are.
If you’re looking to move to a larger home, keep in mind that a bigger house in your preferred area will likely have higher taxes, utility bills, homeowners insurance premiums and maintenance upkeep costs. On the flip side, if a move means you’ll have a shorter commute, you will save time and transportation costs. Prioritizing your location needs and determining what you are willing to spend or sacrifice to achieve your goals will help influence your decision.
Renovation Reality Check
Choosing whether to remodel or move depends on a lot of factors. Can you be creative with your existing rooms and make relatively easy and straightforward renovations, or are your requirements complex, expensive and challenging to complete?
Hire an architect or contractor to help pinpoint issues with your current house and decide what you need from your home. Want to add a second story? Get estimates on how long that might take and how much it might cost, and determine if you’re okay with living through such a major renovation.
Understanding Your Time Commitment Matters
Buying and selling at the same time can be a lengthy process. Organizing your home and putting it on the market can take months, plus there can be some financial and emotional uncertainty when buying and selling. It may take time to get the sale price you want and to find your ideal next home.
If you decide to move forward with buying and selling your home simultaneously, you’ll want to work with a real estate agent and have a plan for how you’ll manage the process. Timing everything right is essential since you don’t want to be paying two mortgages at once if you’re still waiting to sell your current home.
You’ll also want a savings buffer to help financially manage any complications or slowdowns. For example, you may need to temporarily stay in a hotel or put your furniture in storage.
Contingency Acceptance
A contingency clause in real estate is part of a purchase agreement that outlines specific conditions that must be met in order for the contract to be valid and binding. In some markets, home sale contingency offers are allowed, which means your bid for a house is contingent on the sale of your former abode.
In other markets, home buyer-feeding frenzies can prohibit contingent offers. When you put your house on the market, you have to decide if you’ll buy a new house first or make a contingent offer. If contingent offers are out of the question, you may require a temporary rental after escrow closes on your old home and you’re still looking for your next one.
Closing Costs
In addition to your down payment, you’ll have to pay closing costs, just like you did when you purchased your existing home. After figuring in closing costs, commission, title insurance and additional transaction costs involved in your home sale and purchase, it may be much less expensive to stay in your house and renovate. So don’t forget to calculate closing costs when deciding whether or not to move, but don’t hesitate to negotiate any of those costs either.
Current vs. Past Mortgage Rate, Cash-Out Refinance and Second Mortgage Considerations
A cash-out refinance is when a homeowner refinances their existing mortgage, taking out a new loan for more money than they currently owe. The difference between the new loan amount and the old mortgage balance is given to the homeowner in cash. This allows the homeowner to tap into their home’s equity and use the money for various purposes, including home renovations.
If you have a higher interest rate than the current market, compare keeping your mortgage — and perhaps refinancing at a lower rate and taking cash out to make upgrades — to getting a new house with a new mortgage at a lower rate.
Either way, a lower-rate market can prove to be very favorable whether you stay and renovate or go and start fresh.
However, if your current rate is lower than the current market, it may be in your best interest to explore a second mortgage option that allows you to access the equity in your home while maintaining your low rate on the first.
Evaluate Your Motivators to Move
Many individuals who decide to sell have outgrown their current house and don’t want to build an addition or are too busy to manage an extensive renovation project. There are also those homeowners who have too small a lot to work with, need to move closer to work or are not that vested in remaining in the neighborhood.
Aside from the desire to upsize your home, some other motivators for selling can be:
The need for a less expensive home
Readiness to downsize
The ability to pay cash for the next home
The want or need to relocate for a job, school district, family situation, better climate, etc.
Favorable market conditions
Identifying the primary motivators for your move can help you decide if you should sell your house now or wait.
Ready to Downsize?
Those in a life stage where they are often uniquely ready to leave behind the maintenance of their current home. Trading in the three-bedroom house for a low-up keep city condo provides more opportunities for enjoying the retirement years.
Here are some signs downsizing may be right for you:
Housing expenses have increased and you want to cut costs
There are unused rooms in your home
You desire a more low-maintenance lifestyle
You want a change, such as being closer to family, relocating to a different climate or moving into an amenity-filled active community.
So, What Is the Bottom Line? Should I Sell My House Now?
Making a final decision as to whether or not you should sell your house is as personal and individual as the home you’re thinking about giving up or buying. But with the right calculations and information, you’re closer to finding a long-term solution that will work best for you. Ready to sell your home and begin looking for your new one? Chat with a Pennymac Loan Expert, or use one of our mortgage calculators and start your home buying journey today.
Share
Categories
buying a home selling a home home improvement renovations real estate
Revive is introducing “Revive Vision AI,” a cutting-edge listing tool powered by artificial intelligence for real estate professionals. This innovative tool combines computer vision with advanced machine learning to enable data-driven decision-making.
“Revive Vision AI” from Revive is an advanced pre-sale home renovation solution. This industry-first smart tool analyzes property photos to evaluate a property’s current value and renovation potential. It utilizes Revive’s renovation recommendation engine to provide estimates supported by local contractors, maximizing the value of property listings.
This marks a significant advancement in artificial intelligence tools available to real estate professionals. For the first time, agents can leverage the unmatched speed and efficiency of AI-powered insights backed by award-winning computer vision technology. This technology considers a home’s current condition to determine a more accurate current value and maximum potential value than traditional automated valuation models (AVM).
“Revive Vision AI” from Revive is the most advanced pre-sale home renovation solution. This industry-first smart tool analyzes property photos to evaluate a property’s current value and renovation potential. It utilizes Revive’s renovation recommendation engine to provide estimates supported by local contractors, maximizing the value of property listings.
Think of it as a smart comparative market analysis (CMA) combined with AI-powered automated valuation models (AVM), providing a detailed foundation for discussions and helping agents with their listing and pricing strategies.
Revive invites early adopters to use Revive Vision AI, currently in beta testing. Agents can join the waitlist to gain access to this comprehensive assessment tool. The tool provides a detailed plan and overview, including the estimated current market value of the property, the projected market value after renovations, a value-added potential score, a thorough renovation scope and budget, and a comprehensive renovation investment plan.
“Agents are the powerhouse of the real estate industry, and sellers expect them to be knowledgeable on all things real estate,” said Michael Alladawi, CEO and Co-Founder at Revive. “Revive Vision AI is an easy way for real estate professionals to present more detailed and accurate information to their clients in a digestible, easy-to-understand way,” he added.
The Revive Vision AI process is straightforward. Real estate agents upload at least ten photos of their client’s property into the Revive admin dashboard via the mobile app or desktop. Revive Vision AI then compares the subject property with similar homes in the area by analyzing photos available in MLS records. Advanced machine learning algorithms process the data obtained from photo analysis and comparative analysis. Revive Vision AI can accurately estimate renovation costs, potential market value, and projected return on investment. Finally, the AI tool will generate a report that provides investment insights and recommended home improvements.
Revive Vision AI provides all the essential information for real estate professionals and sellers to make informed decisions that align with their goals.
“Revive Vision AI is delivering what may be one of the most practical and valuable uses of AI in real estate available today,” said Dalip Jaggi, COO and co-founder at Revive, who spearheads its technology development, adding, “By leveraging computer vision and machine learning, we’re able to show homeowners how a pre-sale renovation may significantly increase their wealth. We are fundamentally improving the listing conversation real estate professionals will have with their clients, helping sellers make better decisions through real data.”
Revive’s latest breakthrough in real estate technology demonstrates the company’s ongoing commitment to helping real estate professionals deliver a better sales experience while assisting clients in maximizing the value of their homes. Revive has expanded its AI capabilities by increasing its development teams.
“This is only the beginning of how AI will be leveraged to help real estate agents and homeowners,” said Alladawi.
Real estate agents currently working with Revive can subscribe to the tool to access Revive Vision AI. Pricing details will be available soon. Agents can join a waitlist to be invited to participate in the program as it rolls out in phases.
Learn more about Revive Vision AI at www.revivevision.ai.
Find me on:
Mihaela Lica Butler is senior partner at Pamil Visions PR. She is a widely cited authority on public relations issues, with an experience of over 25 years in online PR, marketing, and SEO.She covers startups, online marketing, social media, SEO, and other topics of interest for Realty Biz News.