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Inventory for Housing Highest This Year

While inventory on the housing market is still at historic lows, they have reached the highest they have been so far in 2023. While there are 10% less houses on the market compared to this time last year, current inventory is now 1% higher than it was just one week ago.

The Altos Rule

This arises in the face of still rising interest rates, which are expected to raise rates. This is according to the Altos rule.

To understand the future of housing inventory in this country remember the Altos Rule. The Altos rule says that the more available inventory of homes to buy is the result of higher mortgage rates. If rates climb, so does inventory. If rates fall, inventory will fall. 

Housing Wire

Summer is known for raising inventory, which usually peaks in August, but which is now expected to grow until September. There are now just under 500,000 single family homes on the open market. Houses on the open market is raising at a faster rate than it was at this time last year.

There are now just under 365,000 homes under contract. This flies in the face of interest rates that are the highest they’ve been in twenty years.

Inventory for Housing Highest This Year

Current Market Prices

Even in the face of rising interest rates, home prices are still rising. In fact, housing prices are still rising in 99 of the 100 biggest markets.

But, 35% of homes on the market have seen price reductions since being listed. So, even though prices are rising, in many cases they are not rising at the pace sellers hope they are.

And we can see it in the home price reduction data too. Price reductions are about to inch above 2018 and 2019 again. 35.5% of the homes on the market have had price reductions. Price cuts always tick up late in the summer, and this year’s seasonal increase is speeding up just a bit with the recent higher mortgage rates. Each week we have slightly fewer buyers, making slightly fewer offers, so slightly more sellers cut their asking prices. 

Housing Wire

First Time Home Buyers

So, as we stand in the face of rising interest rates, there are some positives. Negatively affected are younger, first time home buyers, who are increasingly being priced out of the market.

During the 2007 crash, many first time home buyers felt compelled to buy their home before prices rose even higher. This led to many foreclosures among that group. With record high home prices, it remains to be seen if that will happen again, or if potential first time home buyers will just stay out of the housing market.

Since, historically, real estate has been one of the best investments, the pressure of rising housing prices may negatively affect this group, and the larger market, in the long run.

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Louisiana Notary Exam Goes Digital

2025 will see notary accreditation head online. In spring, it will have sprung on all aspiring notaries.

The test may only be done at one location. It will be held at the Louisiana State University campus in Baton Rouge. It will be held multiple times each month and will replace the paper exam.

Notaries will be given additional time for each exam question. The exams will also be available more times each month than they are currently.

“We are very excited by this development. The new format will provide more opportunities to pass the examination, significantly shorten the wait-time for re-taking it, and allow for scores to be released faster. It is our hope that eventually we can make the examination available at other testing sites around the state,” Secretary Landry said.

Louisiana Notary Exam Goes Digital

Other testing sites would be a welcome addition for notaries. We’d imagine it is difficult for some to make the trip to Baton Rouge.

The final paper exam will be towards the end of January 2025. The 2025 edition of the notary study guide will be available in January on the Secretary of State’s website.

To find more information about the change please visit this page.

In the News – November 2024

Recording a Notary Commission Just Got Simpler in Philadelphia

We all love when things get easier.

For Notaries in Philadelphia, an important step was removed from the notary commission process. Previously, the commission had to be double recorded, first with the Philadelphia Department of Records, then again with the Office of Judicial Records.

The recording with the Office of Judicial Records has been removed. Notaries only need to file with the Department of Records now.

It is streamlined, more efficient and time saving. And who doesn’t like that.

Notary Called to the Stand During Medical Cannabis Trial

So, they are trying to get medical cannabis on the ballot in Nebraska. A Hall County man was charged with submitting fraudulent signatures.

Besides the circulator himself, as well as a forensic examiner, the notary had to testify at the trial.

It didn’t look good for the notary.

During examination, the notary was “advised to invoke his fifth amendment, against self-incrimination” on nearly all questions asked by the plaintiff attorney Justin Hall, requiring Judge Susan Strong to weigh in on each instance of pleading the fifth.

While there were a few questions where the fifth amendment was not invoked, overall it did not look good for the notary.

Questions included the notary’s involvement with the ballot initiative, as well as text interactions with organizers of the petition.

A simple reminder we do not post notary names and always give them the benefit of the doubt.

Building the Ultimate Mobile Office for Notary Public Loan Signing Agents

Are you a notary public loan signing agent looking to maximize your efficiency and profitability? A mobile office could be the game-changer you need. In this guide, we’ll walk you through building a mobile office, including vehicle selection, essential equipment, customization tips, and hacks to ensure your business runs smoothly on the go.

Why a Mobile Office?

A mobile office allows you to take your notary services directly to clients, saving time and increasing the number of appointments you can handle daily. Imagine printing documents right in the client’s driveway or having a dedicated workspace wherever you go. It’s all about efficiency and providing top-notch service.

Step-by-Step Guide to Building Your Mobile Office

Building the Ultimate Mobile Office for Notary Public Loan Signing Agents

1. Vehicle Selection:

  • Type: Choose a spacious and reliable van, such as a Ford Transit or Mercedes Sprinter.
  • Used vs. New: Opt for a used van to save on initial costs. Ensure it’s in good condition and suitable for customization.

2. Finding a Customization Shop:

  • Search for: Van conversion companies that specialize in creating mobile offices or motor homes.
  • Keywords to Google: “Custom van conversion,” “van life cabinets,” “mobile office van customization.”

3. Essential Office Equipment:

  • Scanner: Secure a sturdy scanner on top of your setup to prevent movement during transit. Epson Scanner makes a really good one!
  • Printer: Install a dual tray laser printer. Brands like Brother or HP are reliable and efficient for document-heavy tasks.
  • Mounting Supplies: Use heavy duty Velcro strips to secure your equipment. These are great and super strong and easy to use!

4. Storage Solutions:

  • Custom Cabinets: Install custom cabinets for storing essential office supplies such as binder clips, pens, paper clips, rubber bands, a stapler and extra paper.
  • Drawer for Extra Supplies: Keep extra paper, toner, and printer drums in dedicated drawers to ensure you’re always prepared.

5. Power Setup:

  • Battery and Inverter: Install a battery and inverter hardwired into the vehicle’s electrical system to power all office equipment efficiently. https://amzn.to/3APP3MI
  • Rechargeable External Battery: Optional for added power security like a portable power station.

6. Comfort and Efficiency Enhancements:

  • Swivel Seats: Ensure the driver and passenger seats can swivel to face the back, creating a comfortable workspace.
  • LED Lights: Install LED lights for visibility during early morning or late-night signings.

7. Additional Features:

8. Efficiency Hacks:

  • Preparation: Regularly restock supplies and check for shortages to ensure you’re always ready.
  • Use of Time: Utilize the van as a true mobile office, performing tasks like printing, checking documents, and scheduling while on the go.
  • Hiring Assistance: Consider hiring a driver, such as a responsible family member, to maximize your working time between signings.

Conclusion

Building a mobile office tailored to your notary public loan signing business can significantly boost your efficiency and profitability. By following these steps and incorporating the right equipment and hacks, you’ll be well on your way to providing top-tier service while maximizing your earnings.

Ready to take your notary business to the next level? Start building your mobile office today and experience the difference it can make!