Welcome to the 580^th Weekly Update and since we’re done with Halloween and the month of October, a HUGE thank you for last month, which was a great one. Every referral, kind word, and “you should call my loan officer” that you said to friends and clients, meant the world to us. Whether you are a past client, a realtor, a banker, or an insurance agent, you are the reason we get to do work we love, and we do not take it lightly. If you can connect us to a potential buyer, we promise to be efficient and not take too long to get it done.



Let’s get back to the update. This week, rates bounced around and improved following the midterm election results and we're hoping for CONTINUED improvement in the coming weeks. Our current rates are shown just above the trivia question. If you have questions about how these rates apply to your situation, let's talk. As usual, there is LOTS GOING ON, SO LET'S GET STARTED!

CRAZY STORIES

We’re going to lead off this week with a few Crazy JOBS you could try to apply for. FIRST ONE has a requirement that you must love dogs, whether they are cuddly, furry, man’s best friend, OR mechanized machines! A San Francisco startup called Dimensional recently posted a job offering $20 an hour to walk dogs through the city, but as you may have guessed, they were ROBOT DOGS. While there was no experience needed, the training was paid, and you didn’t need to be named John Connor. Dog walking shifts ran four to six hours, with walkers steering the dogs machines by remote while cameras and sensors recorded the streets. The goal is to teach AI how to move around in the real world… which makes our editors wonder who is walking whom?



But there is a catch. Each robot weighs about 33 pounds, and if one overheats or stalls, the walker has to carry it back to the office. So much for a relaxing stroll! Our unofficial mascot, Nola, THINKS her job is safe for now.

Next up, this is the closest we can get to being astronauts! NASA is inviting EVERYONE to send their name to Saturn’s moon Titan aboard its Dragonfly mission. All our names could be placed on a microchip that rides along on Dragonfly, a flying machine that will explore Titan from the air. You will also get a personalized digital boarding pass to show off to your friends.

Dragonfly is set to launch in 2028 and arrive in 2034, so your name may need to start training NOW. The moon of Titan has thick air, rivers and lakes of liquid methane, and sandy dunes, and NASA will look for clues about how life might get started there and where to put some condos!! (maybe) Sign up by 11:59 p.m. EST on January 15, 2027 at go.nasa.gov/dragonfly-names. No spacesuit or training required!

While our editors aren’t quite sure what sides to serve with a potato that tastes like chicken (is the potato the entree or the side? Discuss!), they DO know the perfect thing to serve your drinks in for that entrée-bending meal. Meet the Lycurgus Cup, a 1,600-year-old Roman goblet that looks jade green in normal light and glows ruby red when light shines through it from behind. For centuries, glassmakers struggled to copy the trick. Now scientists at the University of Sheffield have done it. Researcher Lisa Hollands used a recipe based on a tiny fragment of the Roman original, mixing teeny amounts of gold and silver into the glass. As the glass cooled, tiny metal particles formed inside it and the color-changing magic appeared.

Fun twist: the cup shows a king tangled in grapevines after upsetting Dionysus, the Greek god of wine. A glass artist turned the new glass into a sculpture, on display in Sheffield starting today, through the end of next weekend.

REAL ESTATE TO BEHOLD



Coming off our Halloween edition, our editors wanted to continue their streak of amazing, yet eclectic and different houses. So leading us off… It’s time to do some SWEATIN’ TO THE OLDIES!!

The late fitness legend Richard Simmons called this Hollywood Hills estate home for decades, and it just sold for $3.8 million; QUITE the drop from the nearly $7 million list price over a year ago. Built in the 1930s, the Colonial-style home sits behind privacy walls on just over a half-acre above the Sunset Strip. Inside you will find four bedrooms, five bathrooms, and about 4,100 square feet. Highlights include a curving pink-carpeted staircase lined with painted cherubs, a double-sided fireplace, and an attic gym that still holds Richard’s signature Keiser equipment. Outside, you can check out a circular pool and the pool house.

The new owner, developer John Rohan, plans to spend about $3 million restoring the house to its original 1930s glory, then move in and host parties… HOPEFULLY 80s themed with attendees wearing headbands and legwarmers. Click below to check it out.

Looking for a home with a little more history? Welcome to Allington Castle in Kent, England, which hit the market for £5 million (about $6.6 million USD). It has been welcoming guests for more than 700 years. The castle dates to the late 1200s and sits on roughly 42 acres of woods, gardens, and riverfront. King Henry VIII and Anne Boleyn are said to have dined in the Great Hall, and he reportedly stayed in the Royal Room during his visits.

The property’s features include a moat, a jousting yard, underground “Dog Caves” that likely housed the castle’s hunting hounds, and kestrels nesting in the towers. Today there is also a kitchen, library, bedrooms, and nine extra lodgings on the grounds, plus a tennis court and an indoor pool (currently out of service). The Great Hall can host weddings for about 120 guests.

Who needs a Ring doorbell camera when you have a moat? Now THAT’S a security system!

Finally, if you like racing this one is for you. Welcome to the Penthouse at The Motor Enclave in Tampa, where the garage is the main event. This fully furnished, three-story condo offers about 4,600 square feet and room for up to 12 vehicles. The first floor is a car lover’s dream, with three vehicle lifts, a custom workshop, a sauna, and a wet bar. Yes, a wet bar next to the lifts.

Upstairs, the living area has a full kitchen with an oversized island and glass doors that open to a covered terrace overlooking a 1.72-mile racetrack. The terrace has a built-in grill, ice maker, and misting fans, so dinner comes with a view of the action. The third floor holds the owner’s suite, with a TV inside the bathroom mirror.

Built in 2024 and priced at $4,495,000, it sits inside a gated, 200-acre community with a beach club and pool. Check it out below!

THE ECONOMY AND REAL ESTATE

The news of the week was that overall hiring is holding steady. ADP reported that private employers added 86,000 jobs in October. That matches September’s revised number and beats the 75,000 economists expected. Trade, transportation and utilities led the way, followed by education and health services. Those gains were offset by dips in professional and business services. Additional good news for folks who changed jobs was that their pay jumped 4.8% over last year. The number of people quitting is at its highest level since March 2025, which is a sign of a more mobile job market.

Now all eyes turned to TODAY’S official report from our pals at the Bureau of Labor Statistics. Economists expected 59,000 new jobs, compared with 29,000 in September. And the envelope please… BLS results showed 165,000 jobs added, which was WAY above expectations. The unemployment rate landed at 4.1%, slightly below the consensus estimate of 4.2%. That’s great news for the labor side of the economy. HOWEVER, this may give the Fed further fuel to raise rates to fight inflation without having to worry about the labor market. Our editors will be watching.

Below we’ve put a summary from our friends at KCM with an article about something we’ve actually talked about at a few realtor sales meetings recently as well as with several sellers. The benefits of offering a rate buydown versus a price cut. Keep reading below.

In today’s market, a growing number of sellers are opting to do something called a price cut – especially when their house has been on the market for a while without any bites.

According to HousingWire Data as many as 4 in 10 (43%) sellers are going this route – that’s the highest it’s been in 4 years. But what if there’s another (potentially better option) for your bottom line? And it’s just as appealing, if not more so, to today’s buyers?

Enter the rate buydown.

Why Buyers Expect a Deal

First, let’s set the stage on why some compromise may be necessary in today’s market.

In September, Redfin says there were 63% more sellers than buyers in the market. And with so many sellers active and relatively few buyers by comparison, those purchasers are realizing they have more power. And as mortgage rates continue to put a squeeze on their budgets, they’re leaning in and using it.

One of the most common negotiation points? The price.

That’s because they want to feel like they’re getting a deal and they want to see their monthly payment drop. And since buyers can’t control rates, the price feels like the most obvious lever to pull.

But the savviest sellers realize being flexible doesn't always mean a lower price, paying for a buyer's rate buydown might work better.

What Is a Rate Buydown?

A buydown is money paid at closing to lower the buyer's mortgage rate. When you pay it as the seller, you are paying some of the buyer's interest ahead of time, so the buyer gets a lower rate and monthly payment. And that’s especially appealing to today’s buyers.

• Temporary buydowns lower the rate for the first few years, then it goes back to the full rate. The more years a buydown covers, the more it costs. These work well for buyers who expect to refinance within a certain amount of time.
• A permanent buydown lowers the rate for the whole loan. These are paid for with "discount points." One point costs 1% of the loan. According to FICO, each point generally lowers the rate by about a quarter of a percent. This type of buydown works well for buyers who plan to stay in the home for a long time.

Same Money, Different Results

And here’s why these can be a win-win for both buyers and sellers. Rate buydowns help sellers stand out in a crowded market and they can have a bigger impact on your buyer than a price cut would.

Here’s an example to show you what that could look like. 

Let’s say you’re willing to make a $10,000 concession to help get the deal done. Take a look at these three ways to spend that money and the impact they could have on a buyer’s $420,000, 30-year fixed loan at 7%:

It's the same $10,000 from the seller. But a 2-1 buydown saves the buyer about eight times more each month in the first year.

And since most buyers shop by monthly payment, that’s what grabs their attention.

That's what makes a rate buydown worth considering. Instead of reducing your asking price, you may be able to use that same money to have a bigger impact on your buyer’s monthly payments. And depending on what matters most to that buyer, the immediate savings could be more appealing than a price reduction.

The key is working with your agent and the buyer's lender to compare the options and see which one makes the most sense.

Things To Know

• Loan programs cap how much a seller can pay toward a buyer's costs. 
• Money toward buydowns doesn’t limit what else a buyer may ask a seller to pay for. Buyers may still ask for repairs or other concessions.
• Putting the buydown offer in your listing lets agents and buyers know it’s an option.
• Your agent can run scenarios on buydowns and other costs of selling in advance so you’re prepared when an offer comes in.

As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:

“Home sellers need to be realistic about local market conditions, which could require price discounts and other incentives to attract buyers.”

And sellers who offer solutions like buydowns can make meaningful impact where home buyers need it most: in their wallets.

Bottom Line

When you're looking for ways to make your house more appealing to buyers, a price reduction isn't your only option. A mortgage rate buydown could help a buyer save more each month, especially in the early years of their loan.

Talk to your agent and the fine folks here at METHOD MORTGAGE about which incentives could make the biggest difference for buyers in our market, while still protecting your bottom line.

Let's connect and talk about it. 

RATES:

Pricing and rates remain erratic and volatile. Confirm rates & pricing directly with your loan officer.

Check out the trivia question below and remember, there is a drawing to enter and win a gift card. This is your chance to answer for a chance to win the gift card awarded every other month. This trivia question is for the September and October drawing for a gift card. 

TRIVIA QUESTION

TODAY, November 6^th, is National Basketball Day, so let’s take it back to the sport’s humble beginnings. Forget fancy sneakers and glass backboards... James Naismith’s first game featured two peach baskets as goals. Played in Springfield, Massachusetts, on December 21, 1891, it was a pretty simple setup for a sport that would go global with WHOEVER you think is the goat: MJ Or Lebron. What kind of ball did players use in the first basketball game in 1891?

A) A volleyball

B) A soccer ball

C) A football

D) A medicine ball

E) An imaginary ball

Click here to EMAIL ME YOUR ANSWER.

**Email your answer to me to have your name entered in a drawing for a gift card at the beginning of even months and YES you can go back and answer previous weeks’ questions if you have not answered them already AND if we have not unveiled the answer yet***