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🚧 Builder Cancellation Rates Q3 ’22 🚧

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Hey, so thanks for checking this post out. We wanted to go over today something real quick.

So D.R. Horton, one of America’s largest home builders, quarter three, they actually ended with a 32% increase in cancellations to their properties. That’s up from about 19% the quarter before. And so what that really says is people are starting to get scared if the rents will go ahead and cover that mortgage payment. If you’re buying the house, am I going to be able to cover my actual mortgage payment? And then people are also seeing these increase interest rates and starting to back out of the house purchases right now.

Now, the biggest difference for us is if you are an investor, you do want to be looking at purchasing right now. You want to be looking at purchasing things that will at least break even because what happens is when the rates come back down, you can refinance and you can actually take cash flow from that property. So I wouldn’t be too worried about all of these rates right now. Just make sure that when you buy, you buy correctly, and we can always help you with that as well.

So feel free to contact us and we’ll see on the next one.

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About The Author
Sanjeev Advani

β€’ Hundreds of Investment Real Estate transactions successfully closed β€’ 350+ Units currently under Property Management β€’ 3+ Years of Construction Management Experience β€’ Certified Property Manager, CCIM (In Progress) β€’ Bachelors in Finance β€’ Bakersfield, CA Native Deep Dive: I have been licensed in real estate for almost 10 years, and I have been specializing in investment and commercial real estate for the past 6 years. Through the years I have worked with Real Estate Developers, Investors, Average Joes, and many more. I am a Bakersfield native, and my educational background is in Finance. I have just completed the CPM (Certified Property Manager) certification which is one of the most prestigious designations in the Property Management Industry, with less than 1800 members world wide. I am also the President of the Board for Habitat for Humanity Golden Empire, the Vice President of the Board for Income Property Association of Kern County (IPAK), and Vice Chair of the Commercial Investment committee at the Board of Realtors. I look forward to working with you towards your real estate investment goals. Sunny Advani California Agent Lic# 01869863 | California Broker Lic# 02012941 Email: Sunny@RE-Synergy.com | Phone: +1 661 235 5726