Bill Sullivan

#RealEstate #Conversations #Wealth #Fintech #Banking #FamilyOffice #Insurance . EVP Growth @KCMCREW.

@Capgemini, @FOXExchange alum

Avid golfer

[Bill Sullivan @WFSULLIVAN3]

Congrats to our entire @KCMcrew for 7th straight year being recognized as Great Place to Work!

[The KCM Crew @KCMcrew]

KCM Deep Dive sessions were a cherished Monday tradition for Steve.

So, please join us this upcoming Monday, March 11th, at 11:00am ET on Facebook Live as we honor his legacy.

Let's come together to celebrate the remarkable impact he made on us all.

#steveharney #deepdive

[BAM @nowbammedia]

Steve Harney, Founder of Keeping Current Matters (KCM), died on Sunday, March 3rd, 2024, at age 68. KCM issued a statement on his passing. In lieu of flowers, his family would prefer donations to Habitat for Humanity.

https://t.co/Dc1qVthwEK

[Real Estate News @realestatenews]

Steve Harney, an educator, entrepreneur and advocate, has died https://t.co/GHTjJSIz6o #realestatenews #realestate

[Bill Sullivan @WFSULLIVAN3]

Attending my first #SaaStr event this week on West coast

@KCMcrew

[Ferry International @FerryIntl_]

Steve Harney will be taking the stage at Success Summit in just a few more days! 🎙️ Don't miss learning how to swiftly ease your clients' top concerns!

👉 Register here: https://t.co/7x18J2yTjU #TFSummit23 #TomFerry #ferryintl

[Steve Harney @SteveHarney]

People ask me why I am so concerned about overly exaggerated negative headlines about the housing market.

Apparently, Lawrence Yun agrees as he put it #1 on his list of trends influencing the real estate market right now.

“1. Doom-and-gloom headlines are overblown.”

Just saying…

[Steve Harney @SteveHarney]

All six repeat home price indices are continuing to show that values are appreciating.

Just saying…

[Steve Harney @SteveHarney]

Some are looking for this chart showing how rare it has been to see a 3+% spread between the 10-year treasury and mortgage rates.

Just trying to help…

[Hank Sennott @hjs423]

The real experts -- not the so-called ones on your favorite cable tv news network who predicted a housing crash -- are saying that prices will continue to rise.

Is it time to make your move?????

@marisennott @todayre @tomferry @KCMcrew

[Steve Harney @SteveHarney]

There has been a lot of talk about how the total listing count is increasing. That is causing some to conclude that claims of “rate lock” hampering sales are being overblown.

Realize, there is a seasonality to listing counts (as evidenced by the graph below). If we look at this year versus the last five, the challenge is indisputable.

And the situation is not getting better:
Average # of new listings in June over last 5 years: 505,100
This June: 376,500

Just saying…

[Steve Harney @SteveHarney]

You may see headlines today talking about foreclosures going up by 185%. A couple of points:

✅ The increase is over 2021 numbers when there was a moratorium on foreclosures.

✅ The numbers are no where close to those back in 2008-2011.

✅ The numbers aren’t even back to pre-pandemic numbers.

Unfortunately, there will always be foreclosures as a certain number of families hit hard times every year. I feel for them and their children.

However, let’s make sure we report the numbers with an accurate perspective so as to not cause panic in the marketplace.

Just saying…

[Bill Sullivan @WFSULLIVAN3]

Gen Z and Millennial homebuyers aren't purchasing starter homes https://t.co/znG9c3U8K4

[Steve Harney @SteveHarney]

Another graph validating what we said happened.

CRAZY price appreciation at the beginning of last year.
Depreciation at the end of last year to correct prices
BACK TO NORMAL price appreciation this year.

Just saying…

[Steve Harney @SteveHarney]

According to Black Knight’s Home Price Index:

- 98% of the metros they cover saw home price appreciation last month

- 54% of the metros saw home prices return to peak 2022 prices

- Regarding the national number, their index “hit a new record high in May, having now fully reversed the correction in home prices seen late last year.”

Just saying…

[Steve Harney @SteveHarney]

“Houston, we have a problem.”

The chilling message sent by Jim Lowell, Commander of the Apollo 13 mission as he realized his crew was in jeopardy back in 1970.

It was reported that, upon analysis of the challenge, a NASA Director said :

“This could be the worst disaster NASA's ever experienced.”

Gene Kranz, Chief Flight Director of the mission responded:

“With all due respect, sir, I believe this is gonna be our finest hour.”

And then his team went to work on a solution. The rest is history.

Fast forward 53 years. The economy announced:

“America, you have a problem”.

Many think the current economic malaise will wreck havoc on the housing industry. Luckily, some refuse to accept that and are working on a solution.

To all the “Gene Kranz”s in the real estate and mortgage industries - THANK YOU!

Just saying…

[Steve Harney @SteveHarney]

What it would cost you to replace a house 3, 5 and 10 years later if you bought it in…

(h/t Carlos Idrovo)

Just saying…

[Steve Harney @SteveHarney]

A little over a month ago @NewsLambert started putting the spread between the 10-year Treasury and mortgage rates on his mortgage rate movement posts.

Why?

Because he’s smart and wanted to bring your attention to it.

Over the last 50 years, the spread averaged 1.72 bps.
Today, mortgage rates are 6.87% and the spread is 3.15.

If the spread was the normal number, mortgage rates would be 5.44%.

Just saying…

[Bill Sullivan @WFSULLIVAN3]

Despite the shooting down the street at another graduation as we pulled up to Siegel Center, Cory's graduation goes on.

Congrats to Douglas S Freeman Class of 2023!

[Bill Sullivan @WFSULLIVAN3]

Why Today's Foreclosure Numbers Are Nothing Like 2008

https://t.co/82FKpn3yEs