Episode 29 - The Return of Matt Hodges! Winning Strategies in a Cutthroat Real Estate Market

Traversing Entrepreneurship

Matt Hodges is the Managing Broker and Owner of Kultura Real Estate. With over 16 years of experience, he specializes in residential listings and purchases in the greater Grand Traverse region. Matt is an industry leader, currently serving as a Director on the Michigan Association of Realtors Board of Directors. Matt has also served on Aspire North Realtors Board of Directors, the local association for over 4 years and was honored as board president in 2022. In addition to his work at Kultura Real Estate, Matt is a US Navy veteran who is passionate about helping his community.

In this podcast transcript, real estate professionals Matt Hodges and Derek Dall'Olmo discuss the current state of the housing market and offer insights into how buyers and sellers can navigate this challenging environment. They touch upon the impact of rising interest rates, the lack of inventory, and the evolution of the housing market over the past few years. Matt discusses the similarity between the national and Michigan real estate markets, emphasizing the impact of rising interest rates and the persistent issue of low inventory. He draws a comparison to the housing market crash of 2008, explaining how the lack of construction during that time has led to a significant gap in new construction units today.

"If you're going to buy your largest investment of your life, your first home or your move-up home, you want to be a student of that industry before you buy or before you sell, understand what's going on." - Matt Hodges

This week on Traversing Entrepreneurship:

• The current state of the housing market.
• The unique challenges facing the Michigan housing market.
• How has the housing market evolved over the years?
• Leadership in times of fear.
• Pricing properly and getting offers.
• How to get the most out of your house?
• How can buyers and sellers manage expectations?
• Check out our favorite newsletter.

Our Favorite Quotes:

• "We're not even touching the surface on the 1000s of units that we need, almost 10,000 units in this area that we need for housing, whether it's rental or single family." - Matt Hodges
• “Everything is predicated on supply and demand, right? It seems that there's not an overabundance of supply, at least here in northern Michigan. It's like a house comes on the market and you're gonna have 10 to 15 offers, because there are lots of people willing to buy, but not a lot of supply” - Derek Dall’Olmo
• "This is the time where you take advantage, find the deals where you can do something in this market because you're gonna make money 5 to 10 years from now." - Matt Hodges
• “With the younger generation of buyers of let's say the, you know, low to mid 30 Somethings right now, who are looking at maybe it's their first house. But oh, well, I want to wait until interest rates go back down. And to me, that's a mistake.” - Derek Dall’Olmo
• "If it's a competitive home, make sure you've got some things. And then from a listing agent standpoint, a lot of times from the seller standpoint they're looking at, if it's a Florida buyer using a Florida lender." - Matt Hodges
• "Just prepare to be disappointed, whether you're going to lose a multiple offer bid, whether your terms from a seller standpoint aren't exactly what you were hoping for." - Matt Hodges

Connect with Matt Hodges :

• Kultura Group
• Email: [e-mail]
• Kultura Group on Instagram
• Kultura Group on Facebook
• Kultura Group on Twitter
• Kultura Group on YouTube
• Matt Hodges on LinkedIn

About TreMonte and Traversing Entrepreneurship Podcast

Traversing Entrepreneurship is a show for and about business owners in Traverse City, Michigan and beyond. In each episode, co-hosts Derek Dall’Olmo and Melissa Niedzielski sit down with local business owners and the professionals who serve them to talk about business building, life, money, taxes, family — and all the ups and downs that come with doing something different. Join us to hear their stories and lessons learned — and to get inspired about what might be possible in your own business.

Derek and Melissa work together at TreMonte Financial Consultants, LLC and TreMonte TreMonte Tax Solutions, LLC (together referred to as “TreMonte”). TreMonte works with business owners and entrepreneurs to develop a proactive tax strategy that maximizes after-tax profits. It is TreMonte’s goal to bridge the gap between Financial Advisors and Accountants by serving as CFO to their clients.

This show is for informational purposes only and should not be viewed as personalized financial, investment, tax, or legal advice. You should always consult an attorney or tax professional regarding your specific legal or tax situation.

Please email Derek Dall’Olmo at [e-mail] with questions and comments or to schedule a one-on-one conversation.

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