Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
You're correct! With the help of an investment coach, I was able to diversify my 450K portfolio across markets and produce slightly more than $830K in net profit from high dividend yield equities, ETFs, and bonds.
Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
This reference seems valid.. Just looked up her full name on my browser and found her webpage without sweat, over 15 years of experience is certainly striking! very much appreciate this.
You've been the most level-headed of the realtors I watch on RUclips, giving real information. You've NEVER said to buy but more so to be cautious and prepared when buying and I HIGHLY appreciate that. Just because you're a realtor doesn't mean you're out here telling people to buy.
I’m closing in on my retirement and I’d like to move from Regina to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways?
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850K.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation.
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Yeah, I've never heard you say -- Nows the time to buy. Buy, buy, buy! You've actually kept it real and mentioned that strong why behind the purchase. I've never heard you push any nonsense, but rather just empower us. I'm so thankful. I'm looking at homes now and have found relief. Thanks, Javier.
I just bought my first home as a single lady on a teacher salary in an Atlanta suburb. I got tons of concessions and a slightly lower purchase price. Total out of my pocket to put my foot in the door was $2000. I’m so happy and I love my new house, and my doggies finally have their big backyard 💜
@@josephwalsh7184rich is love, happiness and health. We have money but my family sucks. I'd rather have rich relationships. Just enjoy life while you're young. Blessings, my dear.
I'm a CERTIFIED FINANCIAL PLANNER. If my client has a stable personal life, knows where they want to live, and can afford a home... I tell them not to wait. Don't try timing a market. Buy when you are ready. It's that simple.
@@hawkeye5829 Sit through a “2008” and ride out the market, hoping it comes back up. I had to do that with a condo I bought in 2006. Sold it in 2021, but I could wait that long.
Your own economy is not the same as everyone else's economy. Buy if your ready and prepared, not when everyone around you are. Finances and affordability of a house is subjective.
Can’t agree more. I’m in Cali and around my area the average price is 700k plus and two hours is around 350k. I’m considering the move with my wife since we’re so young and have no debt or kids lol.
What attracted me to your channel is your common sense, mathematical ability and straightforward way of explaining things. In the last video I watched, you had helped a couple realize that buying a home was not advantageous for them. Your reasoning was spot on and you saved them from an unnecessary financial burden and possibly future distress.
You are very informative, my favorite thing that you’ve said is to pay attention to the local market, not national headlines. Makes a lot of sense and sometimes I swing by and check in, like now. You’re doing good things man, and you seem down to earth and honest. Keep doing you!
Bought my house in 2011 and I was told I am stupid buying a house then. Sold at the peak now for 3x what I paid for it. Renting now. Will buy again in the next 3-4 years to repeat.
Bought mine in 96, it is now paid for and my house is worth 5x what I paid for it, but I am staying put. It is not in my best interest to waste my equity in an overpriced house.
Seriously, never listen to everyone's advice. Javi is the only one who has given sound advice. It's better to not tell anybody what you're doing financially because during bubbles like this, everyone becomes a self proclaimed expert, either saying there'll be a crash (2021) or saying prices will only continue going up (2024).
@@hawkeye5829 exactly. Not everything needs to be about money. Even if you could profit now, why would you if you're happy with where you're at? Greedy people can't fathom that and will think you're dumb when you're really much smarter to not let greed dictate your actions.
How sweet of that home seller. Keeping the American dream alive!! Maybe you reminded them about them when they were first buying a home, humble beginnings 🥹.
I don't mean to be an ass to the person who wrote that email, but have they even watched your channel??? You constantly provide level headed advice, much of which advises on all the negatives of buying right now. You push people to be thoughtfully cautious, when the vast majority of buyers love to enter the market with their blinders on- ignoring red flags in themselves, the terms, and price. I am honestly offended on your behalf that the person didn't acknowledge any of that, grilled you like you are part of the masses of realtors who ARE guilty of forcing and pushing sales onto their buyers.
Being overly cautious hurts more future buyers than it helps. If you can afford to buy a property buy a property and lock it in and hold on. Why would you want to be a renter long-term. Do a Google search and see more Americans have hundreds of thousands of dollars in net worth just from Simply owning one property it's not a get rich quick thing. It takes time for values to go up and for you to pay down your mortgage and you have a fixed stable home with a locked in payment. Unlike rent where it's nearly guaranteed they will go up over the years
@@johnnyb33good21 what are you, a NAR rep? My comment was about how Javi is an extremely honest and forthcoming real estate influencer. He’s not deceptive or pushy as the original letter author in the video was trying to make it seem. Your comment has no relation to this, so I’m confused why you decided to write all that out
@-Dynamite I've seen what owning properties can do for my life personally and for my family members. I own 11 apartment buildings with 49 units worth $10 million. I would still be in the army or working as corrections officer making $20 hr if it wasn't for real estate
You're one of my fave housetubers. If anything you've helped me pump the breaks and to approach the bank with my affordable payment amount and then get pre approved for that instead of the max they say I can afford
Your representation is EVERYTHING!! just closed on a house in Verrado 35k under ask and appraisal, 4%seller concessions, closing date on OUR terms and binsr issues fixed. Again... representation and your agents KNOWLEDGE determines what you get and how the process goes. Now is a great time to buy! If interest rates and "asking" prices drop, the market will be flooded. Do you reaserch on your agents! The flashy IG realtors with appealing Reels are usually not a good agent to represent you. Good luck to all!
I’m so glad I wasn’t watching RUclips when I bought my house in 2020. I started watching after I bought and there were RUclipsrs telling people it’s a bad time to buy and you should wait for a crash. It’s been 4 years and homes are way more expensive than it was. if I had listened to that advice, I’d be paying more in rent and would have lost a lot of money. Crash RUclipsrs have caused a lot of people to be in a situation where they can no longer afford to buy.
Have they really? I always hear people who've bought saying this but I haven't heard of anyone actually listening. I have been watching RUclipsrs since 2020 who were talking about a bubble but I still made like 8 offers (all got outbid). I haven't heard one person say they didn't try to buy because of RUclipsrs. Those years, everyone was trying to buy it seemed. I still watch channels talking about bubbles but I still put in offer last month because like Javi says, buy what makes sense for you. Those channels just give news, waiting for an actual crash would takes years, it's not sensible.
@@DoubleOhSilver some RUclipsrs said the crash was going to happen in summer of 2020 and the changed it every year since. People waited thinking they were eventually going to get a foreclosure.
I bought in 2019, 2022 and just closed on my third house 2024. I've got some happy tenants appreciating the fair rates on nice homes that are big enough for their wants and needs. The point is, I know what's going on in my area so even if the nation goes into recession tomorrow, I'm good.
Market irrationality can last longer than most people can comprehend the timing. People were calling the stupidity of the housing market in 90s and 2002 well before the pop in 2008. It’s not that they’re wrong fundamentally, they’re just wrong about when the music will stop and everyone collectively panics. Until that point most people just FOMO into the market or aren’t even aware of the irrationality and buy in. The only one who gets screwed tho is the last buyer to have the hot potato. That doesn’t make everyone before them right about the market irrationality, it just makes them lucky and the last person unlucky.
We purchased in April 2023, new build 5.75%, 3bed 2bath, $380k! Everyone was telling us not to buy bc of the market.. I’m so glad we didn’t listen bc the market is pretty much the same! The bubble is not bursting, buy when you are ready! The exciting part is over
Just by when you’re ready. Purchase (2) modest investment rentals. (I own 4.) It is a part-time hands-on business and a ticket to a comfortable retirement if you are willing to deal with the headaches. I buy clean low-mileage cars in cash and I carry no balance on credit cards. I "retired" 10 years ago and my portfolio is worth more now (inflation considered). I will not outlive my resources if I live to be 100.
Living in Oklahoma here 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.
Congrats, and spot on! I too am planning for around 55-56 retirement. The value of adding extra years early in retirement when you are most vibrant and active can't be overstated. The key is going in to retirement with a good grasp of your real expense needs, and ideally having no debt over your head. And of course being able to adapt spending in cases of down markets etc. Glad you are living your best retirement life. Looking forward to joining your club! Best advice ever. I have a very similar plan, do you mind recommending your CFA?
I'm cautious about giving specific recommendations since everyone's situation varies, but I've worked with “Becky Lou Gordon” for years and highly recommend her. See if she meets your criteria.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
I have watched you for well over a year, and you have never told people they need to hurry and buy. That person just sounds like they are unhappy with their situation and want to project that anger onto other people. When I bought last year, I found your videos to be extremely helpful. Keep on keeping on!
We're looking to buy a home and I've watched your videos and I think you've been very fair about what is going on with the real estate market. In the area we are looking at there are homes that are comfortably within our budget, but the prices are declining and I'm just afraid we'll buy a home and then the market crashes and we'll be under water on our mortgage. I"m not a big fan of trying to 'time the market', but I think there's validity to it right now. Mainly because we are in a position where if we start to see prices climb again, we can get a home before prices increase too much. But for now we're going to wait. It's not fun having to do so, but I personally feel it's the way to go.
You will NEVER find a realtor that will say “Now is a BAD time to buy”. For realtors, Now will ALWAYS be a good time to buy. Realtors will only say it’s a bad time to buy when referring to the past or the distant future. For example “oh it was a bad time to buy 6 months ago, 6 years ago, 60years ago because interest rates or prices”… or “it’s going to be a bad time to buy 12 months from now or 6 years from now, etc because interest rate will skyrocket or prices will skyrocket”… you will NEVER… and I mean NEVER meet a realtor who says “now is not a good time to buy”…
In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.
Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.
I agree. I have pulled in more than $435k since 2020 through my advisor. It pays off more in the long run to just pick quality stocks and ride with those stocks.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Melissa Terri Swayne for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Javier is in Phoenix, so this maybe possible. We live in Columbia, SC and these boomers are not giving one crap about the interest rates and keeping their houses on the market for months and waiting for the one fish that will pay what they want. We’ve offered full asking, we’ve offered below, and we have stable income- doc. So, yeah, it’s been crazy and our price range is in the 500ks.
I've been watching you for a year I've never heard you say buy now, I just recently bought a home because to me now is the time to buy. I was tired of spending way to much for a studio apartment, my renewal went up to 12% with no updates and I was able to find a home that's way more space and cheaper than I was paying it rent because I got a lower than 5% rate. In my mind even if rates drop it will take some time to get there and I'm buying at a time with alot less competition in a market with way more room to negotiate and get concessions. I didn't want fear and uncertainty stop me from putting myself in a better situation
Always consistent with your message that you should buy when your ready not based off outside factors. Stick with what you’re doing, it was nice to not feel like your “fear mongering” in either direction unlike a lot of channels
We bought a house and moved in a couple of weeks ago. We had our strong “why” and we are happy with our decision. No regrets. Just have to think long term for our house.
I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways?
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Javier, You've always been SUPER-CLEAR in ALL of your videos that: 1. If you need a house & it makes sense, buy a house. 2. If the market is bananas & ridiculous, you're always the first to admit that. 3. The home purchase mentality you pursue is always long-term--not flipping or market timing. Your honesty, authenticity and candor is what made ME feel comfortable about buying a home last year, and you equipped me with a lot of knowledge and pointers that made me super-comfortable to do so.
I find this very funny. I've been watching Javier for many years. To those who may have only watched Javier's videos recently, he actually used to make videos back around 2020 about how we were in a housing bubble and how you should not buy, it was a constant theme and what brought me to his channel in the first place. He actually stopped that because he said he didn't want to feed into the doom and gloom and get views based off it which I believe is very respectful.
Mortgage rates are currently at an all time high since 2000(23 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market
The stock market is no different, to maintain profit you need to have some in-depth knowledge on the market. I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite a while now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
In my opinion, it was much easier investing back in the 80s but it’s a lot trickier now, those making consistent profit in these times are professionals reason I’ve been using an advisor for the past 5 years to consistently build my portfolio in preparations for retirement.
“Jessica Lee Horst” is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be a true authority in her profession with over two decades of experience. I looked her up on the internet and skimmed through her site, very professional. already sent her an inquiry hoping for a response soon.
Thats me right now😂 my dream has always been to own my own home. I come from a low income family and in my immediate family there are no homeowners. Its always been my end goal. Im super young and currently looking. Ive been preapproved and shopped around for what I think is the best deal. My lease is up in January and im fed up with renting and right now i have my finances in check and im ready to go
You have always said to make sure to check if your NET income allows the payment to be only a chunk of your paycheck not half or more. You have never told people to buy just because its a good time to.
You are not someone's mom or financial advisor and tell them what to do. People have to make the decision themselves. You do a great job of educating and providing tools to those that choose to buy. People can be such trolls and not listen to the message. 😮💨
The price hurts more than the interest rates because the price of the house is locked for 30yrs. I'll continue saving my hard earned $$ by renting until things cool down.
Javi, you're basically the only real estate RUclipsr I've ever seen who does give balanced, reasonable suggestions and perspective about the reality of buying at any given time. I've never seen you say anything crazy or irresponsible like "everyone should be RIGHT NOW" or anything. You're like the only good one, lol
You're talking about the Phoenix market. It booms and busts very easily. So this applied to just your matket. The rest of the country is facing down homes that are 40-60% overpriced and firms that are flushed with cash. So when this shakes out in about 5 years and people realize they don't have shelter and the cost of goods is still sky high, the streets will run red.
My interest rate was 6.5 fixed when I got my house in '01, as they went down I refinanced to 5.25 then 4.5. I wouldn't let 6.5 be so scary, but property taxes, insurance hikes, and overvalued home areas, THAT is the worry. And you don't want to be stuck with PMI forever.
And do not buy the max house you can afford, because taxes & insurance will go up, repairs need to be saved for, etc. If you possibly can, be sure you can pay your mortgage and expenses if you end up on unemployment (or even welfare!). If not, you're better off renting. The early Y2Ks should have taught everyone this...
My fiance and I just bought our first house. Combined we make right around $110k. Our purchase price was $350k and the home appraised for $385k. Interest rate in the high 6%. We put 3% down and the lender granted us 2%. We know the market is scary, but we felt ready and chose to move forward and chase our goal.
By the way, I am bitter af because I went to college and got a career in a good paying field and still can't afford a house so please do not take my comment personally. I'm just salty and angry about this housing bs. My rent takes 60% of my income and I am mad about it. And I really enjoy your content.
I've been following you for around 6 months and you always have the most honest opinion and tell it like it is for each person to decide their course of action. Videos I don't like is this Graham dude saying the market is going to crasj to the very bottom, that's just a flat out lie.
I've never felt that you told anyone to just go buy a house right now. You do some great advice about buying a house and you leave it up to the buyer to make that decision. Carry on my friend 👍
he is right- it’s not his job as a realtor to be your financial planner or your *father.* if people can’t afford a house, they shouldn’t go approach a realtor in the first place.
When you buy a home, even if it loses equity initially, you're still investing in your future. Because you probably will pay that mortgage down. You will probably build equity. Things probably will turn out pretty good. One thing is for certain though, and that is paying rent will NEVER give you the chance to build equity. You will ALWAYS lose over a long enough time period when paying rent. As Javier's wife's boyfriend, I can tell you that building equity for his wife is one of the best things that's ever going to happen to me when she leaves him and sells the house and I move in. If they were renting, I would never be able to marry her and borrow against that equity before moving on to my next hustle.
Dc area still bidding wars on every house. The paperwork and process is tedious and stressful.. if there is more than a few bids I'm out. I'm not interested in competing with a over a dozen offers
I just recently found your videos and have been listening to many of them while I work. I have a lot of them saved for later. I don't find you to be encouraging ppl to buy. Just yesterday I listened about the one who wanted the pool and you thought she should not sell at that time. I find a lot of useful info from your videos and don't sense the pushy agenda many real estate agents have. Keep up the good work!
I don't always watch, sometimes...but when I do, I always understand that I should buy when I'm ready. Never hear him say, buy now or whateves that Karen letter is saying 🙄
Javier, how do I tell my realtor he sucks? I’m about to get to closing but he has been terrible this entire way. I want to get 1.5% of his commission. How do I go about doing that and sticking it to him? Thanks!
Nobody talks about buying a townhome. Maybe that's because townhomes aren't feasible for most people due to the small sqft. I bought a 2 bed, 2 bath townhome in September of 2023 with a rate of 6.875% and a final loan amount of $203,500. Was it a good decision? I don't know for sure. At the time rent prices were a lot higher than they are now. My mortgage is $1,550 with an additional $253 for HOA dues.
Pass on that, I owned a condo and HATED it... Rules, fines, and SO MUCH NOISE!!! Condo fee just kept going up and up, with all the money I spent on that condo fee I was paying the same as I would have paid for maintanance and repairs on a SFD! My mom sold a condo many years ago, they just found out a month ago they will all be assessed 160K EACH because their foundations are all crumbling because of an issue with the cement mix used in their foundations!! I sold my condo, and now live in a beutiful SFH with a beautiful wooded lot, my mortgage with taxes is only 1670 a month, my condo cost me almost the same because of the condo fees!
I watch your videos religiously, and trust me this is coming from an unbiased opinion. I think you explore both ends of purchasing home in this current climate. The industry needs individuals that can think logically and are not 100% about earning a commission. I think you're a good mix of doing what's right for the consumer but also going through with the sale if they're set on buying. This email you received is a little frustrating because the world has no shortage of people who find small things to nag or complain about. You're doing a great job.
In one of your previous videos, you told a lady who wanted to move because she claimed her neighborhood was going down not to buy. I think that's pretty honest versus you just letting them pursue a new house and starting the mortgage over and trying to help them save money and recommend them staying put and stacking up their nest egg instead.
Depends on why you're buying. In the City you grew up in where your kids go to school where you know you want to stay 10 years, assuming the market will crash, that only matters if you sell during the crash. Objectively probably nit a good time to buy a house as an investment. If you have two kids between age 6 and 10? It's not an investment, it's a place to live with perqs apartments don't offer (predictability, permanency, control, and a yard).
I'm about to open escrow on my first house. I'm in so cal so the prices you usually speak of just don't relate. Im about to buy an 825k house from my landlord, so i have no competition. My zip codes average house price is a little over a million. Im a little nervous, but I don't want to miss the opportunity to get into this neighborhood.
Whoever wrote that email, they weren't watching your content from the start to end. I feel like Javier is definitely honest. I never heard Javier say buy buy buy but more like if it is within your budget and you are ready, then consider. And reviewing scenarios whether buyer can afford things or not.
You should definitely buy a house as soon as you can. It'll only get worse with time😅, but if it does get better, then refinance to a better interest rate. As long as you don't overpay for what it's worth or try to get what you can't afford, it's still better than paying rent where you have zero equity. Change your strategy for buying, like tenancy in common or change your location. Just need to set realistic expectations for yourself😅
You are offering a service, if someone wants to buy a house, then your job is to help them. People have to take responsibility for their decisions. You're doing your job.
This is the individual that is “waiting for the housing market to crash to buy”. But doesn’t realize that if that happens, more than likely the economy has crashed too so they’ll either won’t have a job or lending is tighter. You buy a house when you’re ready.
Yup, it sure is. Markets have crashed 30-40% in areas we've been monitoring in AZ this year. Make no mistake, 2025 and 2026 are the years to jump into the deep end. Anyone who bought in 2022, 2023, or 2024 is already upside down. Enjoy the ride, don't miss your stop.
I watch all your videos and you always say it’s a bad financial decision to buy now. But if you HAVE to buy…you have a new child, a job change, than you can help them do it in the most pain free way possible. Never heard you say it’s a good time to purchase
I was looking for a house in Dallas TX and most of them are in the 300k-400k range I got preapproved for a 6% rate and I would have to pay Escrows, the bank would cover the Downpayment and closing costs with a grant I qualified for. Is this ideal? (I have lived in Dallas all my life, real estate insane here, Oak Cliff raised)
i bought my home for 260 in Arizona city, az where the average home price is 400k in arizona as a whole its a nice home i bought it at 5k bellow market value sure other homes are going to be bought at higher prices there are always good deals as long as you dont massively over pay for a home you will be fine i can guarantee there are homes that will loose significantly less value then others my home will NOT lose value if anything it will gain value big time fear sells have fun competing with 100s of home buyers when rate drops because il be soaking up the value my home gains happily on a home that i love and aford while watching all the fools compete for houses just because the rates drop il just refinance or do a va loan replacement and laugh
How many RUclipsrs quit their day jobs while telling people “sky is falling. Wait for the crash “? Channels that didn’t predict a crash didn’t get much views. Channels like Jeb smith and Jason Heartman didn’t get much views.
You haven't really missed the fun! You're making a choice not to sell now and rent for a while betting on a market crash. I definitely think you're making the right decision, but deciding not to sell is still a decision and there are definitely people advising you to sell! So you get to play too!
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
You're correct! With the help of an investment coach, I was able to diversify my 450K portfolio across markets and produce slightly more than $830K in net profit from high dividend yield equities, ETFs, and bonds.
Would you mind providing details on the advisor who helped you?
Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
This reference seems valid.. Just looked up her full name on my browser and found her webpage without sweat, over 15 years of experience is certainly striking! very much appreciate this.
You've been the most level-headed of the realtors I watch on RUclips, giving real information. You've NEVER said to buy but more so to be cautious and prepared when buying and I HIGHLY appreciate that. Just because you're a realtor doesn't mean you're out here telling people to buy.
Don't have a job = can't afford housing.
Have a job = can't afford housing.
So why have a job?
I’m closing in on my retirement and I’d like to move from Regina to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways?
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850K.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation.
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
Yeah, I've never heard you say -- Nows the time to buy. Buy, buy, buy!
You've actually kept it real and mentioned that strong why behind the purchase.
I've never heard you push any nonsense, but rather just empower us. I'm so thankful. I'm looking at homes now and have found relief.
Thanks, Javier.
Exactly. Ive only heard him say when its right for you
he's definitely not a cuck
I just bought my first home as a single lady on a teacher salary in an Atlanta suburb. I got tons of concessions and a slightly lower purchase price. Total out of my pocket to put my foot in the door was $2000. I’m so happy and I love my new house, and my doggies finally have their big backyard 💜
My wife and I just got our first house 2 days ago.
Congrats!
Thank you, it's still possible to buy a house without being rich.@Savvygal
@@josephwalsh7184rich is love, happiness and health. We have money but my family sucks. I'd rather have rich relationships. Just enjoy life while you're young. Blessings, my dear.
You done messed up
@@TopVillain that's not nice. Why post negativity.
I'm a CERTIFIED FINANCIAL PLANNER. If my client has a stable personal life, knows where they want to live, and can afford a home... I tell them not to wait. Don't try timing a market. Buy when you are ready. It's that simple.
Um, enter at the high point, then what?
When is the economic collapse coming?
@@hawkeye5829 Sit through a “2008” and ride out the market, hoping it comes back up. I had to do that with a condo I bought in 2006. Sold it in 2021, but I could wait that long.
Your own economy is not the same as everyone else's economy. Buy if your ready and prepared, not when everyone around you are. Finances and affordability of a house is subjective.
@@hawkeye5829If you stay in the house for more than 7 years, then you ride it out….
I'm closing on my old house in 2 weeks and closing in 3 weeks for my new house. It depends on the location and affordability.
Can’t agree more. I’m in Cali and around my area the average price is 700k plus and two hours is around 350k. I’m considering the move with my wife since we’re so young and have no debt or kids lol.
Sounds expensive
@@boot-strapper Monterey county , Carmel, Monterey, Pacific Grove etc…
The problem is home prices not rates
What attracted me to your channel is your common sense, mathematical ability and straightforward way of explaining things. In the last video I watched, you had helped a couple realize that buying a home was not advantageous for them. Your reasoning was spot on and you saved them from an unnecessary financial burden and possibly future distress.
You are very informative, my favorite thing that you’ve said is to pay attention to the local market, not national headlines. Makes a lot of sense and sometimes I swing by and check in, like now. You’re doing good things man, and you seem down to earth and honest. Keep doing you!
Bought my house in 2011 and I was told I am stupid buying a house then. Sold at the peak now for 3x what I paid for it. Renting now. Will buy again in the next 3-4 years to repeat.
Bought mine in 96, it is now paid for and my house is worth 5x what I paid for it, but I am staying put. It is not in my best interest to waste my equity in an overpriced house.
Seriously, never listen to everyone's advice. Javi is the only one who has given sound advice. It's better to not tell anybody what you're doing financially because during bubbles like this, everyone becomes a self proclaimed expert, either saying there'll be a crash (2021) or saying prices will only continue going up (2024).
@@hawkeye5829 exactly. Not everything needs to be about money. Even if you could profit now, why would you if you're happy with where you're at? Greedy people can't fathom that and will think you're dumb when you're really much smarter to not let greed dictate your actions.
Who told you not to buy in 2011?homes were rock bottom prices
@TopVillain yah, I built a custom home in 2010. Too bad I sold it June of 2020 and it's now worth 300 to 400k more. I'm so pissed.
I got outbid 7 times! Thankfully, the seller knew that I was a first time home buyer and choses me instead of the all cash offer
How sweet of that home seller.
Keeping the American dream alive!!
Maybe you reminded them about them when they were first buying a home, humble beginnings 🥹.
I don't mean to be an ass to the person who wrote that email, but have they even watched your channel??? You constantly provide level headed advice, much of which advises on all the negatives of buying right now. You push people to be thoughtfully cautious, when the vast majority of buyers love to enter the market with their blinders on- ignoring red flags in themselves, the terms, and price. I am honestly offended on your behalf that the person didn't acknowledge any of that, grilled you like you are part of the masses of realtors who ARE guilty of forcing and pushing sales onto their buyers.
Being overly cautious hurts more future buyers than it helps. If you can afford to buy a property buy a property and lock it in and hold on. Why would you want to be a renter long-term. Do a Google search and see more Americans have hundreds of thousands of dollars in net worth just from Simply owning one property it's not a get rich quick thing. It takes time for values to go up and for you to pay down your mortgage and you have a fixed stable home with a locked in payment. Unlike rent where it's nearly guaranteed they will go up over the years
@@johnnyb33good21 what are you, a NAR rep? My comment was about how Javi is an extremely honest and forthcoming real estate influencer. He’s not deceptive or pushy as the original letter author in the video was trying to make it seem. Your comment has no relation to this, so I’m confused why you decided to write all that out
@-Dynamite I've seen what owning properties can do for my life personally and for my family members. I own 11 apartment buildings with 49 units worth $10 million. I would still be in the army or working as corrections officer making $20 hr if it wasn't for real estate
They probably watched one video…or half of one 😵💫
Nothing to be offended by when the shoe doesn’t fit. Besides, it gave him content to post.
You're one of my fave housetubers. If anything you've helped me pump the breaks and to approach the bank with my affordable payment amount and then get pre approved for that instead of the max they say I can afford
Your representation is EVERYTHING!! just closed on a house in Verrado 35k under ask and appraisal, 4%seller concessions, closing date on OUR terms and binsr issues fixed. Again... representation and your agents KNOWLEDGE determines what you get and how the process goes. Now is a great time to buy! If interest rates and "asking" prices drop, the market will be flooded. Do you reaserch on your agents! The flashy IG realtors with appealing Reels are usually not a good agent to represent you. Good luck to all!
I’m so glad I wasn’t watching RUclips when I bought my house in 2020. I started watching after I bought and there were RUclipsrs telling people it’s a bad time to buy and you should wait for a crash.
It’s been 4 years and homes are way more expensive than it was. if I had listened to that advice, I’d be paying more in rent and would have lost a lot of money. Crash RUclipsrs have caused a lot of people to be in a situation where they can no longer afford to buy.
Yup! I bought in 2021 and in my area rent already caught up to my mortgage
Have they really? I always hear people who've bought saying this but I haven't heard of anyone actually listening. I have been watching RUclipsrs since 2020 who were talking about a bubble but I still made like 8 offers (all got outbid). I haven't heard one person say they didn't try to buy because of RUclipsrs. Those years, everyone was trying to buy it seemed. I still watch channels talking about bubbles but I still put in offer last month because like Javi says, buy what makes sense for you. Those channels just give news, waiting for an actual crash would takes years, it's not sensible.
@@DoubleOhSilver some RUclipsrs said the crash was going to happen in summer of 2020 and the changed it every year since. People waited thinking they were eventually going to get a foreclosure.
I bought in 2019, 2022 and just closed on my third house 2024. I've got some happy tenants appreciating the fair rates on nice homes that are big enough for their wants and needs. The point is, I know what's going on in my area so even if the nation goes into recession tomorrow, I'm good.
Market irrationality can last longer than most people can comprehend the timing. People were calling the stupidity of the housing market in 90s and 2002 well before the pop in 2008. It’s not that they’re wrong fundamentally, they’re just wrong about when the music will stop and everyone collectively panics. Until that point most people just FOMO into the market or aren’t even aware of the irrationality and buy in. The only one who gets screwed tho is the last buyer to have the hot potato. That doesn’t make everyone before them right about the market irrationality, it just makes them lucky and the last person unlucky.
We purchased in April 2023, new build 5.75%, 3bed 2bath, $380k! Everyone was telling us not to buy bc of the market.. I’m so glad we didn’t listen bc the market is pretty much the same! The bubble is not bursting, buy when you are ready! The exciting part is over
@myrkaortiz1268 yup if you can afford to buy, it would behoove you to buy a property now and not wait
Me, listening to you read off the email as someone who’s been watching your channel for about 2 weeks: “Did they write to the wrong person??”
I live in New Jersey and houses are going $20k to $50k over asking price with waiving the appraisal and inspections for only information purposes.
Just by when you’re ready. Purchase (2) modest investment rentals. (I own 4.) It is a part-time hands-on business and a ticket to a comfortable retirement if you are willing to deal with the headaches. I buy clean low-mileage cars in cash and I carry no balance on credit cards. I "retired" 10 years ago and my portfolio is worth more now (inflation considered). I will not outlive my resources if I live to be 100.
Living in Oklahoma here 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.
Congrats, and spot on! I too am planning for around 55-56 retirement. The value of adding extra years early in retirement when you are most vibrant and active can't be overstated. The key is going in to retirement with a good grasp of your real expense needs, and ideally having no debt over your head. And of course being able to adapt spending in cases of down markets etc. Glad you are living your best retirement life. Looking forward to joining your club!
Best advice ever. I have a very similar plan, do you mind recommending your CFA?
I'm cautious about giving specific recommendations since everyone's situation varies, but I've worked with “Becky Lou Gordon” for years and highly recommend her. See if she meets your criteria.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
Scam
I have watched you for well over a year, and you have never told people they need to hurry and buy. That person just sounds like they are unhappy with their situation and want to project that anger onto other people. When I bought last year, I found your videos to be extremely helpful. Keep on keeping on!
Just found your videos and we are in that camp of buyers despite the market. You have been enormously helpful and empowering for us on our journey.
No, you have never told your audience to buy. You give facts and these facts you give are tools we (audience) can use to make an informed decision.
We're looking to buy a home and I've watched your videos and I think you've been very fair about what is going on with the real estate market. In the area we are looking at there are homes that are comfortably within our budget, but the prices are declining and I'm just afraid we'll buy a home and then the market crashes and we'll be under water on our mortgage.
I"m not a big fan of trying to 'time the market', but I think there's validity to it right now. Mainly because we are in a position where if we start to see prices climb again, we can get a home before prices increase too much. But for now we're going to wait. It's not fun having to do so, but I personally feel it's the way to go.
You will NEVER find a realtor that will say “Now is a BAD time to buy”. For realtors, Now will ALWAYS be a good time to buy. Realtors will only say it’s a bad time to buy when referring to the past or the distant future. For example “oh it was a bad time to buy 6 months ago, 6 years ago, 60years ago because interest rates or prices”… or “it’s going to be a bad time to buy 12 months from now or 6 years from now, etc because interest rate will skyrocket or prices will skyrocket”… you will NEVER… and I mean NEVER meet a realtor who says “now is not a good time to buy”…
I love your Nintendo background music, that’s the best part of the vids , so relaxing and nostalgic lol keep it up bro! 💪🏽💪🏽
In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.
Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.
I agree. I have pulled in more than $435k since 2020 through my advisor. It pays off more in the long run to just pick quality stocks and ride with those stocks.
Mind if I ask you recommend this particular professional you use their service? i have quite a lot of marketing problems.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Melissa Terri Swayne for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Javier is in Phoenix, so this maybe possible. We live in Columbia, SC and these boomers are not giving one crap about the interest rates and keeping their houses on the market for months and waiting for the one fish that will pay what they want. We’ve offered full asking, we’ve offered below, and we have stable income- doc. So, yeah, it’s been crazy and our price range is in the 500ks.
I bought my house in April 2024 and did a renovation (kitchen and master bathroom) in Atlanta- I don’t regret it equity already up
I've been watching you for a year I've never heard you say buy now, I just recently bought a home because to me now is the time to buy. I was tired of spending way to much for a studio apartment, my renewal went up to 12% with no updates and I was able to find a home that's way more space and cheaper than I was paying it rent because I got a lower than 5% rate. In my mind even if rates drop it will take some time to get there and I'm buying at a time with alot less competition in a market with way more room to negotiate and get concessions. I didn't want fear and uncertainty stop me from putting myself in a better situation
@@ftr911drvr exactly
Always consistent with your message that you should buy when your ready not based off outside factors. Stick with what you’re doing, it was nice to not feel like your “fear mongering” in either direction unlike a lot of channels
We bought a house and moved in a couple of weeks ago. We had our strong “why” and we are happy with our decision. No regrets. Just have to think long term for our house.
Because he’s an agent and has skin in the game.
growth in home prices year over year will likely slowly to normal appreciation but it is unlikely that home prices will *drop*
People that don't have the money to buy a house will always imagine a future where they suddenly do have enough money and houses are cheaper.
You described the one called; "American Dream."
I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways?
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Javier, You've always been SUPER-CLEAR in ALL of your videos that: 1. If you need a house & it makes sense, buy a house. 2. If the market is bananas & ridiculous, you're always the first to admit that. 3. The home purchase mentality you pursue is always long-term--not flipping or market timing. Your honesty, authenticity and candor is what made ME feel comfortable about buying a home last year, and you equipped me with a lot of knowledge and pointers that made me super-comfortable to do so.
You've always said to buy what you can afford and makes sense for your situation. Been here since 2021
I find this very funny. I've been watching Javier for many years. To those who may have only watched Javier's videos recently, he actually used to make videos back around 2020 about how we were in a housing bubble and how you should not buy, it was a constant theme and what brought me to his channel in the first place. He actually stopped that because he said he didn't want to feed into the doom and gloom and get views based off it which I believe is very respectful.
Mortgage rates are currently at an all time high since 2000(23 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market
The stock market is no different, to maintain profit you need to have some in-depth knowledge on the market. I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite a while now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
In my opinion, it was much easier investing back in the 80s but it’s a lot trickier now, those making consistent profit in these times are professionals reason I’ve been using an advisor for the past 5 years to consistently build my portfolio in preparations for retirement.
My partner’s been considering going the same route, could you share more info please on the advisor that guides you.
“Jessica Lee Horst” is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be a true authority in her profession with over two decades of experience. I looked her up on the internet and skimmed through her site, very professional. already sent her an inquiry hoping for a response soon.
Thats me right now😂 my dream has always been to own my own home. I come from a low income family and in my immediate family there are no homeowners. Its always been my end goal. Im super young and currently looking. Ive been preapproved and shopped around for what I think is the best deal. My lease is up in January and im fed up with renting and right now i have my finances in check and im ready to go
We're buying a home @ 5.4% rate with a 2/1 buydown beginning @ 3.4% year 1. The sky is not falling.
You have always said to make sure to check if your NET income allows the payment to be only a chunk of your paycheck not half or more. You have never told people to buy just because its a good time to.
You are not someone's mom or financial advisor and tell them what to do. People have to make the decision themselves. You do a great job of educating and providing tools to those that choose to buy. People can be such trolls and not listen to the message. 😮💨
It’s nice to see that your heart is in the right place but all the questions of concern at the beginning still seem like legit reasons that not buy
Exactly! The guy who wrote that email said nothing wrong.
there is also allot of vary wealthy people and companies buying homes to rent them out forever.
I simply watch your videos for good information and sincere delivery. Not looking to buy. Keep up the good work!
The price hurts more than the interest rates because the price of the house is locked for 30yrs. I'll continue saving my hard earned $$ by renting until things cool down.
Javi is one of the few who is always keepin it real!!!
Javi, you're basically the only real estate RUclipsr I've ever seen who does give balanced, reasonable suggestions and perspective about the reality of buying at any given time. I've never seen you say anything crazy or irresponsible like "everyone should be RIGHT NOW" or anything. You're like the only good one, lol
My only suggestion is to start every video with that days interest rate , then rock on with your great advice.
You're talking about the Phoenix market. It booms and busts very easily. So this applied to just your matket. The rest of the country is facing down homes that are 40-60% overpriced and firms that are flushed with cash. So when this shakes out in about 5 years and people realize they don't have shelter and the cost of goods is still sky high, the streets will run red.
My interest rate was 6.5 fixed when I got my house in '01, as they went down I refinanced to 5.25 then 4.5. I wouldn't let 6.5 be so scary, but property taxes, insurance hikes, and overvalued home areas, THAT is the worry. And you don't want to be stuck with PMI forever.
And do not buy the max house you can afford, because taxes & insurance will go up, repairs need to be saved for, etc. If you possibly can, be sure you can pay your mortgage and expenses if you end up on unemployment (or even welfare!). If not, you're better off renting. The early Y2Ks should have taught everyone this...
Long time subscriber G lets you see ALLLLL the options before you feel like making a move. Much love brother
My fiance and I just bought our first house. Combined we make right around $110k. Our purchase price was $350k and the home appraised for $385k. Interest rate in the high 6%.
We put 3% down and the lender granted us 2%. We know the market is scary, but we felt ready and chose to move forward and chase our goal.
No way there is a below $3000 mortgage payment for a $400,000+ house. thats a $100,000 down payment. Thats bullshit.
By the way, I am bitter af because I went to college and got a career in a good paying field and still can't afford a house so please do not take my comment personally. I'm just salty and angry about this housing bs. My rent takes 60% of my income and I am mad about it. And I really enjoy your content.
I've been following you for around 6 months and you always have the most honest opinion and tell it like it is for each person to decide their course of action. Videos I don't like is this Graham dude saying the market is going to crasj to the very bottom, that's just a flat out lie.
I've never felt that you told anyone to just go buy a house right now. You do some great advice about buying a house and you leave it up to the buyer to make that decision. Carry on my friend 👍
*Summary* Real estate agents are there to "help you" buy whether it's a good time or not...
he is right- it’s not his job as a realtor to be your financial planner or your *father.* if people can’t afford a house, they shouldn’t go approach a realtor in the first place.
When you buy a home, even if it loses equity initially, you're still investing in your future. Because you probably will pay that mortgage down. You will probably build equity. Things probably will turn out pretty good. One thing is for certain though, and that is paying rent will NEVER give you the chance to build equity. You will ALWAYS lose over a long enough time period when paying rent. As Javier's wife's boyfriend, I can tell you that building equity for his wife is one of the best things that's ever going to happen to me when she leaves him and sells the house and I move in. If they were renting, I would never be able to marry her and borrow against that equity before moving on to my next hustle.
Love your honesty!
Dc area still bidding wars on every house. The paperwork and process is tedious and stressful.. if there is more than a few bids I'm out. I'm not interested in competing with a over a dozen offers
6:39 no, you don't just say to buy. You give the real! With the numbers!
I just recently found your videos and have been listening to many of them while I work. I have a lot of them saved for later. I don't find you to be encouraging ppl to buy. Just yesterday I listened about the one who wanted the pool and you thought she should not sell at that time. I find a lot of useful info from your videos and don't sense the pushy agenda many real estate agents have. Keep up the good work!
I don't always watch, sometimes...but when I do, I always understand that I should buy when I'm ready.
Never hear him say, buy now or whateves that Karen letter is saying 🙄
Javier, how do I tell my realtor he sucks? I’m about to get to closing but he has been terrible this entire way. I want to get 1.5% of his commission. How do I go about doing that and sticking it to him? Thanks!
Bought my first house 7 months ago. Doing ok, just really want these interest rates to come down.
Nobody talks about buying a townhome. Maybe that's because townhomes aren't feasible for most people due to the small sqft. I bought a 2 bed, 2 bath townhome in September of 2023 with a rate of 6.875% and a final loan amount of $203,500. Was it a good decision? I don't know for sure. At the time rent prices were a lot higher than they are now. My mortgage is $1,550 with an additional $253 for HOA dues.
Pass on that, I owned a condo and HATED it... Rules, fines, and SO MUCH NOISE!!! Condo fee just kept going up and up, with all the money I spent on that condo fee I was paying the same as I would have paid for maintanance and repairs on a SFD! My mom sold a condo many years ago, they just found out a month ago they will all be assessed 160K EACH because their foundations are all crumbling because of an issue with the cement mix used in their foundations!! I sold my condo, and now live in a beutiful SFH with a beautiful wooded lot, my mortgage with taxes is only 1670 a month, my condo cost me almost the same because of the condo fees!
I watch your videos religiously, and trust me this is coming from an unbiased opinion. I think you explore both ends of purchasing home in this current climate. The industry needs individuals that can think logically and are not 100% about earning a commission. I think you're a good mix of doing what's right for the consumer but also going through with the sale if they're set on buying. This email you received is a little frustrating because the world has no shortage of people who find small things to nag or complain about. You're doing a great job.
In one of your previous videos, you told a lady who wanted to move because she claimed her neighborhood was going down not to buy. I think that's pretty honest versus you just letting them pursue a new house and starting the mortgage over and trying to help them save money and recommend them staying put and stacking up their nest egg instead.
Depends on why you're buying. In the City you grew up in where your kids go to school where you know you want to stay 10 years, assuming the market will crash, that only matters if you sell during the crash.
Objectively probably nit a good time to buy a house as an investment. If you have two kids between age 6 and 10? It's not an investment, it's a place to live with perqs apartments don't offer (predictability, permanency, control, and a yard).
People who buy now are going to get wreeeeeeeeeeeeecked
So apparently when you refinance, you have to pay closing cost again? That is wild
As you were reading the email I thought, he's always said to have a strong why... never you should buy now bc its a good investment. 8:51
I'm about to open escrow on my first house. I'm in so cal so the prices you usually speak of just don't relate. Im about to buy an 825k house from my landlord, so i have no competition. My zip codes average house price is a little over a million. Im a little nervous, but I don't want to miss the opportunity to get into this neighborhood.
High demand..low inventory...7% interest rates and record high prices. It's a terrible time to buy.
I'll pay 25% as long as I can buy your house. Not!
Whoever wrote that email, they weren't watching your content from the start to end. I feel like Javier is definitely honest. I never heard Javier say buy buy buy but more like if it is within your budget and you are ready, then consider. And reviewing scenarios whether buyer can afford things or not.
"Buy buy buy" got me sucked back into the opening of DP&W 😂
You should definitely buy a house as soon as you can. It'll only get worse with time😅, but if it does get better, then refinance to a better interest rate.
As long as you don't overpay for what it's worth or try to get what you can't afford, it's still better than paying rent where you have zero equity. Change your strategy for buying, like tenancy in common or change your location. Just need to set realistic expectations for yourself😅
You are offering a service, if someone wants to buy a house, then your job is to help them. People have to take responsibility for their decisions. You're doing your job.
Javi, you have to add the flames to your screen cap to get more views.
Under 2400 a relief? Dude who you fooling?
There’s no houses in LA for 300-400k lowest is 500k in Compton
This is the individual that is “waiting for the housing market to crash to buy”. But doesn’t realize that if that happens, more than likely the economy has crashed too so they’ll either won’t have a job or lending is tighter. You buy a house when you’re ready.
Yup, it sure is. Markets have crashed 30-40% in areas we've been monitoring in AZ this year. Make no mistake, 2025 and 2026 are the years to jump into the deep end. Anyone who bought in 2022, 2023, or 2024 is already upside down. Enjoy the ride, don't miss your stop.
It’s terrible in colorado for anything west of I-25
Home prices are at the peak when adjusted for inflation.
I watch all your videos and you always say it’s a bad financial decision to buy now. But if you HAVE to buy…you have a new child, a job change, than you can help them do it in the most pain free way possible. Never heard you say it’s a good time to purchase
I was looking for a house in Dallas TX and most of them are in the 300k-400k range I got preapproved for a 6% rate and I would have to pay Escrows, the bank would cover the Downpayment and closing costs with a grant I qualified for. Is this ideal? (I have lived in Dallas all my life, real estate insane here, Oak Cliff raised)
i bought my home for 260 in Arizona city, az where the average home price is 400k in arizona as a whole its a nice home i bought it at 5k bellow market value sure other homes are going to be bought at higher prices there are always good deals as long as you dont massively over pay for a home you will be fine i can guarantee there are homes that will loose significantly less value then others my home will NOT lose value if anything it will gain value big time fear sells have fun competing with 100s of home buyers when rate drops because il be soaking up the value my home gains happily on a home that i love and aford while watching all the fools compete for houses just because the rates drop il just refinance or do a va loan replacement and laugh
A cash buyer got beat out? That’s good news for EVERYONE
How many RUclipsrs quit their day jobs while telling people “sky is falling. Wait for the crash “? Channels that didn’t predict a crash didn’t get much views. Channels like Jeb smith and Jason Heartman didn’t get much views.
Hi Javier- can you talk about who the best lenders are?
Naaaa. Pay no mind, that person obviously doesn't actually watch your videos and pay attention.
Who the hell is affording a $300k mortgage
I am just glad my house is paid for, and I got to miss all the fun.
You haven't really missed the fun! You're making a choice not to sell now and rent for a while betting on a market crash.
I definitely think you're making the right decision, but deciding not to sell is still a decision and there are definitely people advising you to sell! So you get to play too!
@@doomedwit1010 . It's a decision to remain debt free. I now have the financial freedom to enjoy my life.
Now, your new mortgage is the property tax for as long as you own your house.
Same here all paid off.... Taxes insurance maintenance=approximately 400$ a month for 3 bed 1 bath for single occupant.
I just bought property number 8
I would get an appraisal even if paying cash