I am experiencing schadenfreude seeing builders in Texas in trouble. At the height of the bubble, builders would hardly give you the time of day. They sold homes at auction, accepting bids that were usually 20% to 25% above list price. I hope they loose their shirts. Buyers got screwed by everybody at the peak, including realtors who fed the FOMO.
I agree with blaming the builders for their huge part in screwing buyers who were financially uneducated or just had no financial self-disciplinr during the last 4 year run-up, but blaming individual sellers could bring bad karma on yourself. Individual sellers were just being financially wise when wanting to get the biggest profit out of what is usually the biggest asset most common folk will ever have, and you will of course want to do the very same thing with any house or houses you are ever blessed enough to be able to afford to buy! You will hope to buy low, and sell as high as possible, correct? They just got lucky that they either needed or were able to pivot during this high point in the house price point, and would of course sell at prevailing market rates for their market, as you will hope to get lucky enough to also do one day!
@user-sd5ow2lz9o I don't blame sellers. A family member had to sell at the beginning of the run-up due to a change in family situation. They were pleasantly surprised to find a bidding war raised the selling price by another 25%! It was a nice outcome to an otherwise unpleasant process. She pocketed what she thought would be a nice down payment on a smaller new home in a less desirable location. No dice... things were crazy in even the outer burbs of Austin. Every time she thought she had a price on a home, the builder (if one would even talk to her) would raise the price, and it would slip through her fingers. The prices eventually got so ridiculous that she rented for 2.5 years and recently bought at more reasonable prices in a better location than she originally thought she had to settle for. I understand that everybody did what was in their best financial interest at the time (builders, sellers, realtors). Sometimes I was more upset with buyers who fed the fire with the crazy bids and the realtors who fed the FOMO ("You'd better buy now, prices are only going up" "you need to increase your offer if you want that house"). Schadenfreude isn't about blame, it's about enjoying someone else's misfortune. I very much wanted to cash out on our house at the peak, we've lived here for over 20 years. But we weren't in a position to move at the time. Buyers weren't financially uneducated, they had too much buying power (cash, high income). Texas/Austin prices looked cheap to them so they were willing to outbid others. There were even investors buying at elevated prices. You make a lot of wrong (condescending) assumptions about a lot of things in your statement.
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quite mediocre neighborhoods. Then you’ve got Better, average sized homes in nicer neighborhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with an advisor. In a nutshell, i've accrued over $850k with the help of my advisor from an initial $120k investment.
Kudos to *Camille Alicia Garcia* for her significant contribution; she has an online presence, making it easy to find her details through a search. While locating some others might be challenging, Julia has been an excellent guide throughout the year.
Thanks for the advice. The search for your coach was simple. I investigated her well before using her services. Considering her résumé, she appears competent.
A 1,000 sq. ft. brand new detached home for $165k is a pretty good deal in my opinion. With an interest rate special and closing costs paid, you’re likely paying a few hundred dollars less per month than a comparable apartment. For a single person or young family, this is a great starter home. Affordable, easy to pay off, and brand new.
@@cookmaster3626Depends zillow calculator estimate around $1300 a month 10k down if fha possible. Apartment similar size rent for a bit more. If somebody makes 25 an hour and little to no debt and 10k down they will be fine. Even in crash of 25 percent your overpaying by 300 bucks get a roomate and you won’t even feel it.
I looked at moving from North Dallas to North Austin about 3 years ago. The prices were CRAZY!!! I'm glad that I sold my North Dallas home in June 2022. I purchased it in 2017.
Hey 👋🏼 Travis. I have always known that builders play games but this my friend is a new level of deception and manipulating the market. You were Definitely right when you said that this was going to be BONKERS 🥹❗️ Thank you so much for sharing this amazing information regarding homes in Texas. Blessings,Carlos ✝️🙏❤️😊🇺🇸
I'm in California and houses around here are 1 million dollars, it's crazy. I make two times more after taxes than Europe and my standard of living is lower@@mariuss.6607
eh. that is in the outskirts of "metro" houston.. its a solid 40+ mins to get to downtown if I had to work there.. Theres a reason why these homes are on sale.. because they are just so far out and undeveloped.. i live in a developed suburb close to the center of Houston.. saw the local municipality post regarding recent home sales and prices.. prices are still going up.. inventory is like down.. and inventory is still very low.. even if you account for seasonality. like i was alluding to.. location location location..
I'm up in Central Texas, near Fort Cavazos/Killeen. Builders have stopped building with new communities sitting half built. Some of these communities already have people living in them, but open empty lots all around. Not sure what these builders were thinking. Lower enlisted soldiers can't afford a $350K house and nobody is moving here unless they are in the military. The warning signs were there last year, so these builders have no one to blame but themselves.
Nice video Travis but you need to get out of northeast Houston and show us what's going on in the northwest side which is the better side of the city. Please, show us the total inventory numbers in the whole greater Houston area every week on your lives. It is important for us to know how fast is inventory growing. It will take you only 30 seconds.
It’ll be nice to know what builders are playing these games. I don’t wanna give hard earn money to thieves.. I was considering living out of the country because of these hyper inflated prices, just to find out these shenanigans happening with our own country
Those houses in the 200s to 300ks wow that's what we need in other states in my area all new construction homes are 600k plus. We do have resale homes in the 200s to 300ks.
Great work! Please do more videos on tiny homes! I feel that this is going to be a norm sooner than later. Please do a pros v cons between those tiny homes and renting.
You cannot have a bunch of friends and family live with you with only one garage. It is a neighborhood I would not consider, you will have cars parked in front of your house, across from your driveway….everywhere.
Of course you can. There's a family across from me who have had rotating family moving in and out the last two years. I suspect many of them lost homes/apartments and had to move in, then finally get it together and move out. Then another family member moves in. They also have another relative living in a mobile home parked on their driveway. Right now they have 4 cars on their driveway, and likely a couple in the garage.
@@qualitytouchpainter They are across the street and over a couple houses, so no worries. Their neighbors to the left and right, however, probably don't like them all parking there.
Builders in northern Dallas (especially Celina and Prosper) still have an audacity to say that the prices have increased by 5% in 2023 and yet to rise by 10% next year. For a context, A 4 bed 2 bath 2200 Sqft newly constructed home is offered for around 540K base price by end of Dec 2023. They are able to maintain these absurd prices is by controlling number of lots/homes available at a time. At the same time builders have 2-3 additional phases yet to open(thats 1000's of homes), my guess is that no phase will be opened until 2025. They are treading very cautiously
@@daunique1n1 They are trying to juice the market, which works to an extent, but even DFW has limits. I love DFW area (Grapevine) but could not afford it now. I also like my quality of life where I am in Texas, so no need to waste money simply to live in Dallas.
Yep, been in the market for a new home for a long while but the prices are insane up here. Patiently waiting for the slow motion train wreck to fully reveal itself
The more 'diverse' a city is the higher the crime rate will be and Houston is very 'diverse' today. Its more of a Mexican/African hybrid than an American city. Its also getting thousands of new 'diverse' people from south of the border every week. Looking at homes for sale on the Texas Border is just sad.. So many people desperate to get out of the war zones.
Travis, where do you think all these people work? I hope not downtown or anywhere near downtown or as South as I-10 for their sake. I was in the conroe/woodlands area and was ready to shoot myself with how long it took to get to work everyday towards the city, and am grateful for (stupid) lockdowns offering me the flexibility to work remotely and move back to Dallas permanently
Phoenix is tapped out. I have family there and lived there in the past. I would never live in Arizona again. There is no value there from a buy low standpoint.
Imagine what's gonna happen to those poor people who bought a couple of these homes at the peak.. Just wait for first comps that come in heading forward.
This isn't necessarily a question about this video but i love your videos and perspectives and I'm curious if you have noticed during your travels if any states or metro areas may be better off in regards to the job market during recession that would make it worthwhile buying if a good deal is found? I know Texas did pretty decent in the '08 recession but could the massive wave of new construction that wasn't on this level then change how well they perform this recession? I'm 28 so this is the first real recession as an adult that i have to face and I'm trying to make the best decisions to prepare.
In my area, Oakridge/Conroe, Texas it is almost impossible to buy land since you are competing against builders and if you do buy that overinflated piece of land you can almost be sure you will be upside down in property value if you decide to have a builder build your home on your land.
Montgomery County is one big traffic jam waiting to happen. Houses going up faster than roads to move automobiles. The Woodlands are nutty. I appreciated the smaller outliers like Porter.
Next month ill start looking for home to buy somewhere within a 100 miles of Houston but I want a well, sceptic on a half acre or more. 200k max, prefer 150k. Im seeing TONS of properties now dropping price by thousands to tens of thousands. Hopefully when this lease is up in Sept it will be a perfect time to buy. - HOA's and Flipped Homes are off my list for life. Living on a plantation or in a polished turd are not options for me.
Some of the builders in San Antonio are offering like 5.5% interest loans through their own finance company. Not sure how much the houses are though. Thanks for the video
Coming from idaho/wyoming, i would snatch one of those 165k tiny houses in a heartbeat! Considering checking out texas..i could basically retire just by leaving the northwest🙄
Do Sunterra in Katy, please. Ive been hearing about promised amenties that the developer isnt doing. Masterplan community but not seeing much builing going on or talk about additional phases
USA is creating same problem as China with so many non-quality inventory, not to forget AirBnB is going to treated as Short-term Rental in following months, cause a panic in market probably.
Man, who finds these subdivisions attractive? Who would want to live in such a lifeless environment that is so car centric? Is there anywhere to go within 5 miles of these places besides strip malls and chain restaurants? I'm no fan of places like The Villages in Florida, but at least they have the "third place", which is attractive town centers with things to do and places you want to be in. But this Texas environment is soul crushing IMHO. We have to do better with our land management. What a waste.
14:10 so...I made a video 10 months ago about this subdivision and was able to help the builder sell every single one of them! LOL!!! this guy is secretly the greatest new home salesman for home builders.
The higher end homes are still there. It took 2021 prices and rates with buying incentives to make it work, basically. Which was enough to sell out most of the homes. Amazing really.
@@realestatemindset I’m currently looking at the prices for duplex and quadruplex in San Antonio. It’s still too high. There’s no way to cash flow. Not too mentioned high property tax. I’m seeing 450k duplex Only way to cash flow is the price must come down at least 100k with rate of 5%. As an investor you don’t want to overcharge or else you’re going to have that vacant.
Oh man To be a "fly on the wall" in the executive meeting of the these builders, as they discuss your video ! You know they're seeing your stuff. I don't think they like you ......
90% chance that the real deals will be later in 2024, perhaps even better beyond that. At some point FHA, VA, Fannie and Freddie as well as banks will start dumping. That's when the fun begins for buyers.
Amazing. And it's not just in Houston, either. Don't wanna sound conspiratorial, but I have a feeling that most of these subdivisions are gonna end up abandoned, bulldozed, or burned down - so as to keep prices stable. Because if we're being honest, this is much more about creating Dollar demand than anything else. If you doubt that, ask why it's no big deal to leave 7 billion dollars of military equipment lying around in Afghanistan.
what he's showing is the fringes of houston.. lets face it.. who lives out there? high income earners? if they were high income they would have just bought a plot of land and build their own home instead of living in a planned subdivision.. also high income people would live inside the loop.. who wants to be a high income earner and drive 40+ mins home each way from down town every day..
I don't like subdivisions at all, as the matchy cookie cutter houses that are completely removed from anything. No schools, no 7/11s, no pharmacies. NO public transportation nearby. Completely isolated. Kids need to wait till they're 16 to drive, can't walk or take a bus to let them get out and have part-time jobs. Then people wonder why kids are on their phones or playing video games in all their free time. Here's a reason. And most of these more modest homes have both parents busting their asses at work to make payments on homes that have negative equity, so they're spending less time in their new jewel, less time with their latch-key kids. But the first thought that came to my mind as the drone traveled over street after street, subdivision after subdivision with home sites lining the streets: either ground hasn't been broken or whole communities are empty. My first thought is that a remake of The Stepford Wives would fit perfectly in any of these subdivisions! Bravo TV should start a new show here! The Stepford Wives of Tavola Subdivision!
Gen-X are latchkey kids, but I learned to be self-sufficient that way. Also, my parents left me and my sister a sizable trust because they both worked and had great careers. You missed the boat on this one. Some of our parents set us up for success.
it takes time for subdivisions to develop.. I live in a subburb of houston.. my home was one of the last ones to be be built some 15 years ago. Just recently have they pretty much built out every subdivided plot of land meant for commercial property. takes like 15-20 years for it to be fully occupy everything.. what he has shown there has one major issue.. its jsut too far out.. I work with clients at the Exxon Mobile office near by New Caney.. everyone i've talked to there lives 1) wealthy woodlands area near by or 2) literally at the center of metro houston.. lets face it.. these subdivisions are more for low income earners at this point..
@DIVISIONINCISION Your life and experiences are positive to you and that's great. It's also all you know. If you had also experienced your parents spending more quality time with you, you may have remembered that as the best thing your parents did for you. But you are missing the whole point of my comment: if you ever read or saw the original movie The Stepford Wives, you would have understood what I was even commenting about. I guess you were just looking for a comment to disagree with as to reaffirm that you have had the best life possible. I do not understand how you took anything I wrote as a personal attack on your parents lives and choices. I don't know you. I don't care.
Just looked up one of the "tiny homes", shows price cut from $204K to $165K. But was it ever 204? Or is this a year end tactic? Similar size and price to condo/townhouse, but detached and (presumably) on its own lot.
@@Lumpia_In_Texas Yes. Sort of. They have to have revenue somewhere, and when I looked it wasn’t as high as I had expected them to be. As a percentage it’s higher than other states buy homes are so much less it’s not so bad
They are, if you look outside the major cities. You can get a nice custom new build for under $300K if you look in Central Texas. You'd have to stay away from Houston, Austin and DFW, though. Especially DFW. Many people moving there paying cash.
@@InvestingWithAdamK Austin is experiencing a reset right now and people are leaving there due to the high cost of living/property taxes. Austin is becoming an investor market now, not the city it used to be.
Please stop saying "tiny". Those things are NOT very small (you did see they have 2 stories, right?. It's actually amazingly good that Houston does not enforce crazy huge lot sizes like most US cities.
![Houston Texas' Most AFFORDABLE New Construction Homes in a Top Neighborhood [NEAR THE WOODLANDS TX]](http://i.ytimg.com/vi/R74D00pKfCs/mqdefault.jpg)
I am experiencing schadenfreude seeing builders in Texas in trouble. At the height of the bubble, builders would hardly give you the time of day. They sold homes at auction, accepting bids that were usually 20% to 25% above list price. I hope they loose their shirts. Buyers got screwed by everybody at the peak, including realtors who fed the FOMO.
Yep. When the pendulum swings far enough back I will be making some absolutely insulting offers to builders and individual sellers.
I agree with blaming the builders for their huge part in screwing buyers who were financially uneducated or just had no financial self-disciplinr during the last 4 year run-up, but blaming individual sellers could bring bad karma on yourself. Individual sellers were just being financially wise when wanting to get the biggest profit out of what is usually the biggest asset most common folk will ever have, and you will of course want to do the very same thing with any house or houses you are ever blessed enough to be able to afford to buy! You will hope to buy low, and sell as high as possible, correct? They just got lucky that they either needed or were able to pivot during this high point in the house price point, and would of course sell at prevailing market rates for their market, as you will hope to get lucky enough to also do one day!
“Schadenfreude”?
@user-sd5ow2lz9o I don't blame sellers. A family member had to sell at the beginning of the run-up due to a change in family situation. They were pleasantly surprised to find a bidding war raised the selling price by another 25%! It was a nice outcome to an otherwise unpleasant process. She pocketed what she thought would be a nice down payment on a smaller new home in a less desirable location. No dice... things were crazy in even the outer burbs of Austin. Every time she thought she had a price on a home, the builder (if one would even talk to her) would raise the price, and it would slip through her fingers. The prices eventually got so ridiculous that she rented for 2.5 years and recently bought at more reasonable prices in a better location than she originally thought she had to settle for.
I understand that everybody did what was in their best financial interest at the time (builders, sellers, realtors). Sometimes I was more upset with buyers who fed the fire with the crazy bids and the realtors who fed the FOMO ("You'd better buy now, prices are only going up" "you need to increase your offer if you want that house").
Schadenfreude isn't about blame, it's about enjoying someone else's misfortune.
I very much wanted to cash out on our house at the peak, we've lived here for over 20 years. But we weren't in a position to move at the time.
Buyers weren't financially uneducated, they had too much buying power (cash, high income). Texas/Austin prices looked cheap to them so they were willing to outbid others. There were even investors buying at elevated prices.
You make a lot of wrong (condescending) assumptions about a lot of things in your statement.
@@Mike4444x Google it?
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quite mediocre neighborhoods. Then you’ve got Better, average sized homes in nicer neighborhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with an advisor. In a nutshell, i've accrued over $850k with the help of my advisor from an initial $120k investment.
Kudos to *Camille Alicia Garcia* for her significant contribution; she has an online presence, making it easy to find her details through a search. While locating some others might be challenging, Julia has been an excellent guide throughout the year.
Thanks for the advice. The search for your coach was simple. I investigated her well before using her services. Considering her résumé, she appears competent.
Have you noticed an increase in inventory?
A 1,000 sq. ft. brand new detached home for $165k is a pretty good deal in my opinion. With an interest rate special and closing costs paid, you’re likely paying a few hundred dollars less per month than a comparable apartment.
For a single person or young family, this is a great starter home. Affordable, easy to pay off, and brand new.
Agreed that doesn’t seem so bad at all for for legit starter home brand new.
same as a prefabricated home but on a concrete foundation. Not worth the price
@@cookmaster3626Depends zillow calculator estimate around $1300 a month 10k down if fha possible. Apartment similar size rent for a bit more. If somebody makes 25 an hour and little to no debt and 10k down they will be fine. Even in crash of 25 percent your overpaying by 300 bucks get a roomate and you won’t even feel it.
That’s insane. In California it costs way more than 165 per sqft to build. It’s really cheap honestly but ppl still complain.
Maybe a collapse is coming. I don’t really see it that way though. Sounds reasonable to me too.
I looked at moving from North Dallas to North Austin about 3 years ago. The prices were CRAZY!!! I'm glad that I sold my North Dallas home in June 2022. I purchased it in 2017.
Hey 👋🏼 Travis. I have always known that builders play games but this my friend is a new level of deception and manipulating the market. You were Definitely right when you said that this was going to be BONKERS 🥹❗️
Thank you so much for sharing this amazing information regarding homes in Texas. Blessings,Carlos ✝️🙏❤️😊🇺🇸
None of this is happening in Califas, Carlos, so you're not in luck.
Thanks drone pilot brother, such great views ❤
I'm from Europe and it is crazy to see what you get in the US for your money, copy-paste wood houses compared to stone, concrete or brick in Europe.
I'm a euro living in TX. My exact thoughts lol. But that's in TX, warm climate and hurricanes.
I'm in California and houses around here are 1 million dollars, it's crazy. I make two times more after taxes than Europe and my standard of living is lower@@mariuss.6607
Showing Houston and Dallas Market is great. Show more!!!!!
eh. that is in the outskirts of "metro" houston.. its a solid 40+ mins to get to downtown if I had to work there.. Theres a reason why these homes are on sale.. because they are just so far out and undeveloped.. i live in a developed suburb close to the center of Houston.. saw the local municipality post regarding recent home sales and prices.. prices are still going up.. inventory is like down.. and inventory is still very low.. even if you account for seasonality. like i was alluding to.. location location location..
Love your real world work! Merry Christmas and get some quality family time after your road trip!
Thank you Jason! I hope you found the value!
@realestatemindset I do. Also an easy tip to determine occupied properties: find out when it's trash day and see how many cans are on the curb...
I'm up in Central Texas, near Fort Cavazos/Killeen. Builders have stopped building with new communities sitting half built. Some of these communities already have people living in them, but open empty lots all around. Not sure what these builders were thinking. Lower enlisted soldiers can't afford a $350K house and nobody is moving here unless they are in the military. The warning signs were there last year, so these builders have no one to blame but themselves.
I bought a duplex last year, tbh I'm doing good financially, but I want a house , I really appreciate the work you are putting in doing these videos
Your efforts are appreciated Travis.
I like the Harrington Trail home site. I don't like the Tivola site because it's too close to that highway. Great drone work!
Thank you sir!
Nice video Travis but you need to get out of northeast Houston and show us what's going on in the northwest side which is the better side of the city. Please, show us the total inventory numbers in the whole greater Houston area every week on your lives. It is important for us to know how fast is inventory growing. It will take you only 30 seconds.
Those markers in the driveway is how the corporation that bought half the neighborhood marked them for rent in our neighborhood
Makes sense. That means they're sold.
It’ll be nice to know what builders are playing these games. I don’t wanna give hard earn money to thieves.. I was considering living out of the country because of these hyper inflated prices, just to find out these shenanigans happening with our own country
Great detective 🕵️♂️ work Travis. 👏🏿
How about tax ?
same, our house got build in probably 5 months or less in Denver, also you just came to my neighborhood
An investor would not buy that house, would not be able to rent it and break even. Most locals cannot afford taxes and insurance as the home owner.
it said on fire sale, so people will buy it based on this vid.
Those houses in the 200s to 300ks wow that's what we need in other states in my area all new construction homes are 600k plus. We do have resale homes in the 200s to 300ks.
I would not call this area houston. It is actually pretty far from downtown.
ALL that space, and still doing tiny lots. SMH
Great work! Please do more videos on tiny homes! I feel that this is going to be a norm sooner than later. Please do a pros v cons between those tiny homes and renting.
Thank you so much! I'll keep an eye out for more areas in Houston.
Very astute insight Travis, thanks for doing the leg work for us people.
Love the video, that drone footage is awesome. Some houses had tiny backyard, some had huge! I wonder what’s the price difference of the lots.
Thank you sir! We can see a lot more from the air for sure.
You cannot have a bunch of friends and family live with you with only one garage. It is a neighborhood I would not consider, you will have cars parked in front of your house, across from your driveway….everywhere.
Of course you can. There's a family across from me who have had rotating family moving in and out the last two years. I suspect many of them lost homes/apartments and had to move in, then finally get it together and move out. Then another family member moves in. They also have another relative living in a mobile home parked on their driveway. Right now they have 4 cars on their driveway, and likely a couple in the garage.
@@DIVISIONINCISION they are lucky that you did not back into one of their cars getting out of your driveway.
@@qualitytouchpainter They are across the street and over a couple houses, so no worries. Their neighbors to the left and right, however, probably don't like them all parking there.
Travis dude you are AWESOME!! WOW!! The value you provide never fails to amaze me!
Boots on the ground suggestion: Idaho Falls, ID
Builders in northern Dallas (especially Celina and Prosper) still have an audacity to say that the prices have increased by 5% in 2023 and yet to rise by 10% next year. For a context, A 4 bed 2 bath 2200 Sqft newly constructed home is offered for around 540K base price by end of Dec 2023. They are able to maintain these absurd prices is by controlling number of lots/homes available at a time. At the same time builders have 2-3 additional phases yet to open(thats 1000's of homes), my guess is that no phase will be opened until 2025. They are treading very cautiously
Its nice to see you understand the data is more important than what the sales people say.
Same specs of house being sold $600k base in Phoenix and it’s not even as nice as those in Texas
@@Maybeemay I know prices are absurd everywhere. But for the northern Dallas where Property tax rates are about 2.6% (with 0.3% PID), it's bonkers!
@@daunique1n1 They are trying to juice the market, which works to an extent, but even DFW has limits. I love DFW area (Grapevine) but could not afford it now. I also like my quality of life where I am in Texas, so no need to waste money simply to live in Dallas.
Yep, been in the market for a new home for a long while but the prices are insane up here. Patiently waiting for the slow motion train wreck to fully reveal itself
Great video! Too much crime going on every day in Houston for me but, for some, this is probably a good time to buy there.
The more 'diverse' a city is the higher the crime rate will be and Houston is very 'diverse' today. Its more of a Mexican/African hybrid than an American city. Its also getting thousands of new 'diverse' people from south of the border every week. Looking at homes for sale on the Texas Border is just sad.. So many people desperate to get out of the war zones.
Bonkers for sure. Keep up the great work.
Thank you sir! Took a quick trip up North. I have a few other metros I'm working on dropping like Salt Lake City, Boise and Reno.
Looking forward to Boise/Meridian. My neck of the woods.
Travis, where do you think all these people work? I hope not downtown or anywhere near downtown or as South as I-10 for their sake. I was in the conroe/woodlands area and was ready to shoot myself with how long it took to get to work everyday towards the city, and am grateful for (stupid) lockdowns offering me the flexibility to work remotely and move back to Dallas permanently
They don’t work! I know up here in OKC, the government is buying up homes and putting illegals in them with “housing vouchers”. 😡
DFW is too expensive. Moving back to Dallas only gets you higher costs and of course, the crowds.
2:36 sheeesh pulling out receipts 🔥🔥🔥👍🏽👍🏽
Best show yet. You nailed it!! 🎉
That intro is stupid fire . Which means it's really good in Bay area terms.
Those suburbs going to be dangerous in 4 to 5 yrs
The sky is falling?
They can keep playing with themselves because sensible buyers know the game! The FOMO crowd has left the building!
Any idea how much the restrictive HOA monthly fees are for these homes?
"EYE IN THE SKY;" I LIKE THAT TRAVIS.
I hope you can do like this video in Phoenix - Arizona! Great job brother!
Phoenix is tapped out. I have family there and lived there in the past. I would never live in Arizona again. There is no value there from a buy low standpoint.
Imagine what's gonna happen to those poor people who bought a couple of these homes at the peak.. Just wait for first comps that come in heading forward.
This isn't necessarily a question about this video but i love your videos and perspectives and I'm curious if you have noticed during your travels if any states or metro areas may be better off in regards to the job market during recession that would make it worthwhile buying if a good deal is found? I know Texas did pretty decent in the '08 recession but could the massive wave of new construction that wasn't on this level then change how well they perform this recession? I'm 28 so this is the first real recession as an adult that i have to face and I'm trying to make the best decisions to prepare.
As soon as rates fall as they promised they all will sell.
Have a great night!
Rates AND prices.
In my area, Oakridge/Conroe, Texas it is almost impossible to buy land since you are competing against builders and if you do buy that overinflated piece of land you can almost be sure you will be upside down in property value if you decide to have a builder build your home on your land.
Montgomery County is
one big traffic jam waiting to happen. Houses going up faster than roads to move automobiles. The Woodlands are nutty. I appreciated the smaller outliers like Porter.
Next month ill start looking for home to buy somewhere within a 100 miles of Houston but I want a well, sceptic on a half acre or more. 200k max, prefer 150k. Im seeing TONS of properties now dropping price by thousands to tens of thousands. Hopefully when this lease is up in Sept it will be a perfect time to buy.
- HOA's and Flipped Homes are off my list for life. Living on a plantation or in a polished turd are not options for me.
Look into dayton texas or sealy texas
Thanks For a the a video Bro!
YES SIR! Thank you for commenting!
Location location location sucks big time. That’s it
Some of the builders in San Antonio are offering like 5.5% interest loans through their own finance company. Not sure how much the houses are though. Thanks for the video
Thanks for sharing! My prediction is deals will come in late 2024 at a 20-30% discount.
I hope you are right. Late 2024 is when I will be trying to buy.
Great journalism travis. Please keep making videos of the tiny houses
Absolutely bonkers 😊
EDMOND! 100% BONKERS! I have so much intel in my area its crazy.
How much are property taxes and monthly utilities specifically for peak hrs during winter and summer?…
Travis I appreciate all your work. Please do a boots on the ground in Columbus Ohio.
Coming from idaho/wyoming, i would snatch one of those 165k tiny houses in a heartbeat! Considering checking out texas..i could basically retire just by leaving the northwest🙄
We always compare markets and numbers - current to pre-covid as well. 2019 is a better baseline of normality in the production home building world.
I love tiny home ❤
Do Sunterra in Katy, please. Ive been hearing about promised amenties that the developer isnt doing. Masterplan community but not seeing much builing going on or talk about additional phases
USA is creating same problem as China with so many non-quality inventory, not to forget AirBnB is going to treated as Short-term Rental in following months, cause a panic in market probably.
Usa is short millions of homes. Exact opposite of China
i'm in Midlothian Texas, I see tons of multiple reductions in price
Merry Christmas Travis 🎄🌲🎄
Thanks for the boots on the ground videos, Travis!
They can keep those HOA’s
Great Video! Can you do videos up here in DFW.
Yeah construction people are my Mexican people. Hardest working people. 🇺🇸🇲🇽
Man, who finds these subdivisions attractive? Who would want to live in such a lifeless environment that is so car centric? Is there anywhere to go within 5 miles of these places besides strip malls and chain restaurants? I'm no fan of places like The Villages in Florida, but at least they have the "third place", which is attractive town centers with things to do and places you want to be in. But this Texas environment is soul crushing IMHO. We have to do better with our land management. What a waste.
Your car becomes your second home 🚗
14:10 so...I made a video 10 months ago about this subdivision and was able to help the builder sell every single one of them! LOL!!! this guy is secretly the greatest new home salesman for home builders.
🤣 or they offered enough incentives and price cuts to keep up with demand
Small house equals small utilities to cool 10 months out of the year and maybe heat 30 days
Gives me SoCal housing market vibe in 2007-2012
So Tavola ended up selling out? Perhaps this indicates there is demand after all?
The higher end homes are still there. It took 2021 prices and rates with buying incentives to make it work, basically. Which was enough to sell out most of the homes. Amazing really.
@@realestatemindset I’m currently looking at the prices for duplex and quadruplex in San Antonio. It’s still too high. There’s no way to cash flow. Not too mentioned high property tax. I’m seeing 450k duplex Only way to cash flow is the price must come down at least 100k with rate of 5%. As an investor you don’t want to overcharge or else you’re going to have that vacant.
New sub. This is gold info thank you
The tiny houses are pretty much fabricated homes but on a concrete foundation
👍👍👍👍😀😊bonkers!! Great video!🎉
FP! Come back here and let me know what you learned from this video!
Can you cover Charlotte,NC market? I am curious
Great job!
Curious to see how Collin county Texas homes are selling now with new constructions
Show some houses with RECENT list/sold prices!
Great opportunity for Build To Rent
Oh man To be a "fly on the wall" in the executive meeting of the these builders, as they discuss your video ! You know they're seeing your stuff. I don't think they like you ......
90% chance that the real deals will be later in 2024, perhaps even better beyond that. At some point FHA, VA, Fannie and Freddie as well as banks will start dumping. That's when the fun begins for buyers.
This must be where they plan to house us when they say “You will own nothing and be happy.”
Hoa is the problem too
That’s a city thing…i hate hoa but almost all subdivisions have them… building uour own is way better but way more expensive
@@mostwantedmotor No they don't. You just need to research where you're thinking of living. Tons of cities in Texas don't have HOA.
Good work
Amazing. And it's not just in Houston, either. Don't wanna sound conspiratorial, but I have a feeling that most of these subdivisions are gonna end up abandoned, bulldozed, or burned down - so as to keep prices stable. Because if we're being honest, this is much more about creating Dollar demand than anything else. If you doubt that, ask why it's no big deal to leave 7 billion dollars of military equipment lying around in Afghanistan.
80 billion
@Real-Estate-Mindset is it eggplant 🍆 shaped and slings yogurt?
You can't "burn down" a subdivision when there are already people living there. Explain how that would happen without some arrests and charges.
what he's showing is the fringes of houston.. lets face it.. who lives out there? high income earners? if they were high income they would have just bought a plot of land and build their own home instead of living in a planned subdivision.. also high income people would live inside the loop.. who wants to be a high income earner and drive 40+ mins home each way from down town every day..
USS Starlight going down Mayday! Mayday!
I don't like subdivisions at all, as the matchy cookie cutter houses that are completely removed from anything. No schools, no 7/11s, no pharmacies. NO public transportation nearby. Completely isolated. Kids need to wait till they're 16 to drive, can't walk or take a bus to let them get out and have part-time jobs. Then people wonder why kids are on their phones or playing video games in all their free time. Here's a reason. And most of these more modest homes have both parents busting their asses at work to make payments on homes that have negative equity, so they're spending less time in their new jewel, less time with their latch-key kids.
But the first thought that came to my mind as the drone traveled over street after street, subdivision after subdivision with home sites lining the streets: either ground hasn't been broken or whole communities are empty. My first thought is that a remake of The Stepford Wives would fit perfectly in any of these subdivisions! Bravo TV should start a new show here! The Stepford Wives of Tavola Subdivision!
Gen-X are latchkey kids, but I learned to be self-sufficient that way. Also, my parents left me and my sister a sizable trust because they both worked and had great careers. You missed the boat on this one. Some of our parents set us up for success.
it takes time for subdivisions to develop.. I live in a subburb of houston.. my home was one of the last ones to be be built some 15 years ago. Just recently have they pretty much built out every subdivided plot of land meant for commercial property. takes like 15-20 years for it to be fully occupy everything.. what he has shown there has one major issue.. its jsut too far out.. I work with clients at the Exxon Mobile office near by New Caney.. everyone i've talked to there lives 1) wealthy woodlands area near by or 2) literally at the center of metro houston.. lets face it.. these subdivisions are more for low income earners at this point..
@DIVISIONINCISION Your life and experiences are positive to you and that's great. It's also all you know. If you had also experienced your parents spending more quality time with you, you may have remembered that as the best thing your parents did for you.
But you are missing the whole point of my comment: if you ever read or saw the original movie The Stepford Wives, you would have understood what I was even commenting about. I guess you were just looking for a comment to disagree with as to reaffirm that you have had the best life possible. I do not understand how you took anything I wrote as a personal attack on your parents lives and choices. I don't know you. I don't care.
New Caney is NOT Houston lol
It will keep going down. Renting is cheaper/better in TX.
Sign me up!
There is nothing but houses as far as you can see. How far would you have to drive to get groceries or anything else?
Realtors are not in it for the customer, just ask 10 of them and see.
Great video
Looks really eerie like a camp being built.
Great video as usual
Just looked up one of the "tiny homes", shows price cut from $204K to $165K. But was it ever 204? Or is this a year end tactic? Similar size and price to condo/townhouse, but detached and (presumably) on its own lot.
As an outsider, when I look at properties in Texas they look inexpensive to me in a lot of areas
They don't include the property taxes! It's high!
@@Lumpia_In_Texas Yes. Sort of. They have to have revenue somewhere, and when I looked it wasn’t as high as I had expected them to be. As a percentage it’s higher than other states buy homes are so much less it’s not so bad
They are, if you look outside the major cities. You can get a nice custom new build for under $300K if you look in Central Texas. You'd have to stay away from Houston, Austin and DFW, though. Especially DFW. Many people moving there paying cash.
@@DIVISIONINCISION that’s exactly what I saw. Looks inexpensive. Hard to imagine some big crash but who knows
@@InvestingWithAdamK Austin is experiencing a reset right now and people are leaving there due to the high cost of living/property taxes. Austin is becoming an investor market now, not the city it used to be.
Not a home w/o a backyard.
How about under 2019 prices…now we are talking!
Do you think the credit card issue with the $8 max late fee will affect anything?
Take a hard hat and some high-vis next time you go to the job site!
LOL Not a bad idea. Nice to see you brother!
Please stop saying "tiny". Those things are NOT very small (you did see they have 2 stories, right?. It's actually amazingly good that Houston does not enforce crazy huge lot sizes like most US cities.
Texas. Cool.
Thats nothing save for another year! $100 square is cheap we pay $300 in the city..