Northeast sellers still trying to hang on. I see houses coming down between 25,000-100,000. Starting to see more inventory but not quite enough for a buyers market. Still too high the prices
I'm in Westchester County, these sellers are nuts here. Also a few homes have closed over asking still and some have sold below. Tough market over here. I'm still hopeful and saving up and waiting for that deal.
My apartment complex now allows you to pay a one time fee at the time of your renewal that will allow you to break your lease at any time. You don't have to pay month to month! 🙌🏾 I'm paying the fee when I renew in January. This allows me to focus on getting what I want and not worry about my lease being up. I think the one time fee is around $500. I think renters should ask if they offer that where they currently live. Buying a house will be stressful enough. Not having to worry about my lease is great. Great video! Thanks for all you do!! Have an awesome rest of the week! 🙋🏾♀️ Oh!! The house I have been watching dropped by $5000 this week 😁 It's still way over priced. I got my 🤞🏾 Bye! 🙋🏾♀️
With rents going up, they want you to voluntarily leave so they can rent out the unit to a new tenant for a higher price. My landlord bought me out of my lease and he just listed it for $400 more than what I was paying.
Stupid, more $$$ for Option to break a Lease??? Leases benefit Landlords and fees benefit Landlords.... Stupid tenants are tenants for a reason, low IQ....
A well known appliance company came out to fix my washer & charged me $300 for diagnostics for 10 minutes of work 😳😳😳😳😳….that experience make me want to start my own appliance repair company because I wouldn’t do potential word of mouth customers like that!!!
California is the same. I saw one house that only reduced 10K. They are also bringing the prices down by $300 to $400K my realtor said so they can get multiple offers.
What about those that took out equity to help their loved ones with their down payment? Some even co signing as well.. I don’t think this is going to end well for many folks!
I am a first time home buyer and I am feeling a little discouraged. In my area people are still paying over asking.so a house that could have afforded comfortable at the beginning of the year payment is almost 400 more. I just cry every night cause the houses I like is overpriced and homeownership seem so unattainable 😥
Hi, I’m in the same boat in LA and I know how you feel, but please don’t stress out so much. There’s so much that we can do. You want to be healthy to enjoy your home, and if you cry every night, you will end up getting a place but compromising your mental health.
Still so pricey when you calculate price per square foot. I hear that everyone is trying to sell but for some reason the sellers are hanging to the last high dollar they can get and getting offended at lower offers all over Idaho.
@@aliciaa.8059 that is where patience comes in as they become adjusted to the reality of an imploding market. In 2008-2010 we saw the same thing here in California and we had 2 properties on the market. It was brutal.
Seller paid closing costs, sellers making repairs, FHA offers being accepted, price reductions on overpriced listings all of these are examples of a normal market. Markets go up, markets go down, eventually the market will shift. Real estate is all local. The market is always changing. 2020, 2021, and 2022 were abnormal years. Real estate is all about supply and demand.
I see many homes that sold mid August, then owner is turning around and listing it 2 weeks later for $20k over what they paid, what is that about? Many homes like that in the Phoenix market. Could it be last minute investors trying to make a quick buck?
I'm X-CCIM CRIA EMS CEC CAM GRI and X licensed Real Estate, Taxes, Insurance, Stocks NASD and 201 court cases as Paralegal... Been a RE investor since 1970s... ALWAYS BUY at BOTTOM when blood is gone & bones are Dust, and SELL (list4sale) 2-3 years before the TOP. Do not do a 1031 at top or bottom, that's stupid. Your IRR is high when you sell!!!
Recently I have seen data on the Australian real estate market. Wow. Pre scamdemic trough to peak was almost a 50% rise. Now? They make Bosie look like a hot boom market.
I just hope we don’t have a bailout this time around.. I do believe that adds insult to injury to the market! No forbearance, no re modifications nada! Government needs to let nature take its course and people make irrational decisions and need to understand there are consequences for that!
I live in Pittsburgh, I brought my house in 2019 FHA for $158K and the seller paid all my closing cost.. I just sold the same house on 6/6/22 for $240K I accepted the best offer out of 6, I did give 2k towards closing due to electric wiring that would need to be replaced eventually. Well my fiancé and I started looking for homes again the beginning of August.. we got out bided for one house that was the best one in the best area here but now that house fell out of contingency.. ( I’m glad we didn’t get it bc honestly I didn’t want to spend that much for it). But we have now decided to wait, signed a 6 month lease .. not a great apartment but clean and safe for $900 a month.. that’ll give us an opportunity to save even more money and maybe catch a better deal! We have 20 % down and both our credit scores are mid 700s we would love to buy but we don’t want to be desperate and buy out of urgency!! We will take our time and revisit the market in 6 mos.. I’ve been studying the market and prices are dropping here by 10k-20k and staying in the market longer! I like to see my money so we are waiting not so patiently but waiting
@Kenny St Vil Awesome! Keep watching videos on real estate. There’s also great books on real estate. Gary Keller’s book The Millionaire Real Estate Agent is one of my favorites. Best wishes, Todd
Things may get worse with the economy but I do not believe there will be a "crash". I do not believe 2008 will be repeated and one reason is based upon the S.A.F.E. Act and regulations in place by regulators such as state agencies and federal regulators. Prior to the S.AF.E. Act and regulatory requirements and sanctions, people were making loans without any requirements to be MLO's. So from the regulatory perspective, I think the protections in place will prohibit bad loans and predatory lending. As it relates to the cost of goods and materials... that is tough, indeed. And let's stop pooping on FHA loans. 3.5% down payments were created for a reason as we know everyone does not have 20% to avoid PMI. Each case is a case by case situation. Lastly, I do agree that more homes will have multi-generational housing versus than it has been in the past. It is becoming more of have's and have not's. Buyer education is real and we have to ensure that folks understand what they are purchasing.
Disagree. It does not matter how we got here. A bubble is still a bubble. The amount of debt and leverage is far worse than it was 14 years ago. More leverage = the bigger the potential damage. The S.A.F.E. act also appears to address exotic loans. However, the vast majority of failed mortgages in the last RE downturn originated from prime borrowers. Subprime was too small of a segment of the overall market to have brought it down. In addition, subprime was an American phenomenon, but the RE meltdown was a global event.
@@toinengwyn3935 I had whole response, respectful for sure and seems poor service area I was in did not post it. So, I'll do shrunken reply. I appreciate your point of view as you hit some good points and I'm not here to debate them (nor did I take your intent to be that either). One point I focused on was the regulatory measures that were put in place from the state licensure perspective for state licensed MLO's and Federal registrants. The S.A.F.E. Act had a few facets to it and not that it was specific to exotic loans. There are various sections of it that will address some specific loans such as QMs but that's not across the norm and not the only type of loans that inherently get reviewed through regulation of licensees. Plenty of folks were unqualified to write mortgages with no ramifications and wrote to folks that weren't qualified. So I'm not saying this prevents everything that could go array, but one component.
Good job guys?do you really need an agent when am buying cash,should i have an agent or mortgage lawyer? we are avoiding to pay 3 % coz we do not want to be in debt,we lives in tulsa ok
There are a lot of scam comments. For your own safety, NEVER send strangers money. If you want to invest, go IN PERSON to your bank and ask to speak to a certified financial advisor.
Yes, they are really annoying. The scammers are commenting to each other as to how great their (fake) investment turned out for them. They are in all mortgage and investing channels.
I hope 99% of car dealerships enter into bankruptcy protection to force them to drop their greedy MSRP’s and profit margins to something more reasonable & affordable but still make a fair profit NOT a price gouging profit!!!
How do we know if a property is overpriced?…look @ the data…stay locked in to platforms like this….look @ prices per sq ft sold & after…look @ new builds VS. old…look @ how fast your market increased in prices….research,research,reserve!!!…do your #dudeligence on your entire housing & rental/leasing market
#RobertKiyosaki advice was ahead of its time when i brought his products in 2004…to bad i didn’t do anything with the knowledge but share!…if I would’ve put the strategies in practice…I would be retired by now!!!!!!
Experts advice is not free or cheap!!!!….never settle for cheap & un experienced advice!!!….a had a month to month lease for 6 years….it was perfect until everyone caught the greed bug!!!!
Try factoring in the divorce data this year and the financial burdens that’s causing families in 2020,2021 & 2022….2023 is going to be very crazy…get your pop corn and strap in because its going to be a bumpy ride….landlords want their lost cash flow back!!!!
Thanks again for having me on your platform. It was a great time.
@Orlando Miner Absolutely! We appreciate you 🙏 Thanks for joining us, it was a great time.
Thanks for coming on telling the truth and not promoting a hidden agenda. We will send more viewers your way as well..thanks again...
Thanks for bringing Orlando onto your platform , been spot on since I began watching him early this year.
I just subscribed! Thanks!
Northeast sellers still trying to hang on. I see houses coming down between 25,000-100,000. Starting to see more inventory but not quite enough for a buyers market. Still too high the prices
I'm in Westchester County, these sellers are nuts here. Also a few homes have closed over asking still and some have sold below. Tough market over here. I'm still hopeful and saving up and waiting for that deal.
@@ewlinitis Stay on it. You’ll find the perfect deal.
@@ewlinitis good luck. I grew up in westchester. Couldn't afford to move back in this market.
My apartment complex now allows you to pay a one time fee at the time of your renewal that will allow you to break your lease at any time. You don't have to pay month to month! 🙌🏾 I'm paying the fee when I renew in January. This allows me to focus on getting what I want and not worry about my lease being up. I think the one time fee is around $500. I think renters should ask if they offer that where they currently live. Buying a house will be stressful enough. Not having to worry about my lease is great. Great video! Thanks for all you do!! Have an awesome rest of the week! 🙋🏾♀️
Oh!! The house I have been watching dropped by $5000 this week 😁 It's still way over priced. I got my 🤞🏾 Bye! 🙋🏾♀️
With rents going up, they want you to voluntarily leave so they can rent out the unit to a new tenant for a higher price. My landlord bought me out of my lease and he just listed it for $400 more than what I was paying.
Stupid, more $$$ for Option to break a Lease??? Leases benefit Landlords and fees benefit Landlords.... Stupid tenants are tenants for a reason, low IQ....
A well known appliance company came out to fix my washer & charged me $300 for diagnostics for 10 minutes of work 😳😳😳😳😳….that experience make me want to start my own appliance repair company because I wouldn’t do potential word of mouth customers like that!!!
Very interesting discussion! Thanks for having Orlando on the show!
Thank you all for your time, efforts and wisdom. Your sound advice is truly appreciated.
All I missed in this show was
Orlando’s fully cheerful 😄 laugh 😂
Orlando definetly added to the show. I saw a well cared home sell in two days in my area Indiana.
California is the same. I saw one house that only reduced 10K. They are also bringing the prices down by $300 to $400K my realtor said so they can get multiple offers.
@flava1969 Thanks for sharing.
You guys are awesome with this great information you provide. Thanks and a big hello from So Cal. Melisa you looked really pretty 😍
What about those that took out equity to help their loved ones with their down payment? Some even co signing as well.. I don’t think this is going to end well for many folks!
Great info as always! Appreciate it 🤞🙏💞
Heaven today. My faves at the same time. I'm a fan of all of you. Presently trying to buy but pulled out and just saving
Is that a good idea.
@Karen Hatwood You’ll find what you’re looking for. Hang in there, and definitely keep saving.
I am a first time home buyer and I am feeling a little discouraged. In my area people are still paying over asking.so a house that could have afforded comfortable at the beginning of the year payment is almost 400 more. I just cry every night cause the houses I like is overpriced and homeownership seem so unattainable 😥
What location?
@@AshleyCherv. midwest...fort wayne, indiana
Hi, I’m in the same boat in LA and I know how you feel, but please don’t stress out so much. There’s so much that we can do. You want to be healthy to enjoy your home, and if you cry every night, you will end up getting a place but compromising your mental health.
@@anniebrahimi668 yYou are so right...thank you for the comforting words it sure means alot ☺
Great video with the addition of Orlando!!!!
we are shopping the Idaho market and LOTS of reductions and lots of inventory.
Still so pricey when you calculate price per square foot. I hear that everyone is trying to sell but for some reason the sellers are hanging to the last high dollar they can get and getting offended at lower offers all over Idaho.
@@aliciaa.8059 that is where patience comes in as they become adjusted to the reality of an imploding market. In 2008-2010 we saw the same thing here in California and we had 2 properties on the market. It was brutal.
great discussion, thank you!
Seller paid closing costs, sellers making repairs, FHA offers being accepted, price reductions on overpriced listings all of these are examples of a normal market. Markets go up, markets go down, eventually the market will shift. Real estate is all local. The market is always changing. 2020, 2021, and 2022 were abnormal years. Real estate is all about supply and demand.
We need to get back to morality,integrity and honesty In commerce & business practices in our economy!!!!#checks&balances
Thank you!! Great insight!!
I see many homes that sold mid August, then owner is turning around and listing it 2 weeks later for $20k over what they paid, what is that about? Many homes like that in the Phoenix market. Could it be last minute investors trying to make a quick buck?
Yes Or 50-60 K more.
Terrific information, thank you
First time seeing that intro...wow that was lit.
South Florida Prices are still rising. 😳
Up 5% in s Florida, 2.4% va beach, but west coast is down . There’s a map that shows this
I'm X-CCIM CRIA EMS CEC CAM GRI and X licensed Real Estate, Taxes, Insurance, Stocks NASD and 201 court cases as Paralegal... Been a RE investor since 1970s... ALWAYS BUY at BOTTOM when blood is gone & bones are Dust, and SELL (list4sale) 2-3 years before the TOP. Do not do a 1031 at top or bottom, that's stupid. Your IRR is high when you sell!!!
Recently I have seen data on the Australian real estate market.
Wow.
Pre scamdemic trough to peak was almost a 50% rise.
Now?
They make Bosie look like a hot boom market.
@CEU Solution Interesting
@@SachsRealty Aug 2021 to Aug 2022 has had enough losses for a net negative year-over-year.
And it's still headed down.
I just hope we don’t have a bailout this time around.. I do believe that adds insult to injury to the market! No forbearance, no re modifications nada! Government needs to let nature take its course and people make irrational decisions and need to understand there are consequences for that!
You are right but you know they will. Politicians need to give freebies to stay in power. We have free loader generation
I live in Pittsburgh, I brought my house in 2019 FHA for $158K and the seller paid all my closing cost.. I just sold the same house on 6/6/22 for $240K I accepted the best offer out of 6, I did give 2k towards closing due to electric wiring that would need to be replaced eventually. Well my fiancé and I started looking for homes again the beginning of August.. we got out bided for one house that was the best one in the best area here but now that house fell out of contingency.. ( I’m glad we didn’t get it bc honestly I didn’t want to spend that much for it). But we have now decided to wait, signed a 6 month lease .. not a great apartment but clean and safe for $900 a month.. that’ll give us an opportunity to save even more money and maybe catch a better deal! We have 20 % down and both our credit scores are mid 700s we would love to buy but we don’t want to be desperate and buy out of urgency!! We will take our time and revisit the market in 6 mos.. I’ve been studying the market and prices are dropping here by 10k-20k and staying in the market longer! I like to see my money so we are waiting not so patiently but waiting
Fast forward 6 months... SVB, Signature... 21:15 Damn, government swooped in and saved the day.
Potential buyers should never overpay by purchasing outside their families budget and comfort zone and end up house poor or with negative equity!!!
I want to be a real estate agent or in the field atleast after high school so what should I do when I graduate
Find a mentor who can show you the ropes. Also, I suggest you get a more professional profile picture, maybe something in a suit.
@Kenny St Vil Awesome! Keep watching videos on real estate. There’s also great books on real estate. Gary Keller’s book The Millionaire Real Estate Agent is one of my favorites. Best wishes, Todd
Things may get worse with the economy but I do not believe there will be a "crash". I do not believe 2008 will be repeated and one reason is based upon the S.A.F.E. Act and regulations in place by regulators such as state agencies and federal regulators. Prior to the S.AF.E. Act and regulatory requirements and sanctions, people were making loans without any requirements to be MLO's. So from the regulatory perspective, I think the protections in place will prohibit bad loans and predatory lending. As it relates to the cost of goods and materials... that is tough, indeed. And let's stop pooping on FHA loans. 3.5% down payments were created for a reason as we know everyone does not have 20% to avoid PMI. Each case is a case by case situation.
Lastly, I do agree that more homes will have multi-generational housing versus than it has been in the past. It is becoming more of have's and have not's. Buyer education is real and we have to ensure that folks understand what they are purchasing.
Disagree. It does not matter how we got here. A bubble is still a bubble. The amount of debt and leverage is far worse than it was 14 years ago. More leverage = the bigger the potential damage.
The S.A.F.E. act also appears to address exotic loans. However, the vast majority of failed mortgages in the last RE downturn originated from prime borrowers. Subprime was too small of a segment of the overall market to have brought it down. In addition, subprime was an American phenomenon, but the RE meltdown was a global event.
@@toinengwyn3935 I had whole response, respectful for sure and seems poor service area I was in did not post it. So, I'll do shrunken reply.
I appreciate your point of view as you hit some good points and I'm not here to debate them (nor did I take your intent to be that either). One point I focused on was the regulatory measures that were put in place from the state licensure perspective for state licensed MLO's and Federal registrants. The S.A.F.E. Act had a few facets to it and not that it was specific to exotic loans. There are various sections of it that will address some specific loans such as QMs but that's not across the norm and not the only type of loans that inherently get reviewed through regulation of licensees. Plenty of folks were unqualified to write mortgages with no ramifications and wrote to folks that weren't qualified. So I'm not saying this prevents everything that could go array, but one component.
Good job guys?do you really need an agent when am buying cash,should i have an agent or mortgage lawyer? we are avoiding to pay 3 % coz we do not want to be in debt,we lives in tulsa ok
They are agents what do you think they will say ? The title company does all the work anyway . You can get a basic PUrchase agreement online.
There are a lot of scam comments. For your own safety, NEVER send strangers money. If you want to invest, go IN PERSON to your bank and ask to speak to a certified financial advisor.
Yes, they are really annoying. The scammers are commenting to each other as to how great their (fake) investment turned out for them. They are in all mortgage and investing channels.
He being buying and say don't buy. Mmmm.
I hope 99% of car dealerships enter into bankruptcy protection to force them to drop their greedy MSRP’s and profit margins to something more reasonable & affordable but still make a fair profit NOT a price gouging profit!!!
How do we know if a property is overpriced?…look @ the data…stay locked in to platforms like this….look @ prices per sq ft sold & after…look @ new builds VS. old…look @ how fast your market increased in prices….research,research,reserve!!!…do your #dudeligence on your entire housing & rental/leasing market
#RobertKiyosaki advice was ahead of its time when i brought his products in 2004…to bad i didn’t do anything with the knowledge but share!…if I would’ve put the strategies in practice…I would be retired by now!!!!!!
Experts advice is not free or cheap!!!!….never settle for cheap & un experienced advice!!!….a had a month to month lease for 6 years….it was perfect until everyone caught the greed bug!!!!
Try factoring in the divorce data this year and the financial burdens that’s causing families in 2020,2021 & 2022….2023 is going to be very crazy…get your pop corn and strap in because its going to be a bumpy ride….landlords want their lost cash flow back!!!!
2024 or when prices drop 75%
Good luck waiting for that !
Cutting a large tree down today cost about $50,000.00
#OrlandoMiner gives excellent advice!!!!!🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥