There are two bills being discussed in congress that if either pass will affect the housing market. The Feds want to end Hedge Fund and investment property ownership. If either passes, it will cause these investment companies to divest within 10 years and will flood the market with millions of single family homes. The biggest problem with the market today is hedge fund / investment property owners buying up entire tracks of homes before they are even built. The average home buy can't compete with them. Inventory is NOT the issue... it's the investment buyers buying up all the homes.
THANK YOU FOR SAYING THIS.....this is the primary reason we are in this mess....RICH INVESTORS flooding the market these are not real home buyers....they are opportunist millionaires who want more money 💰 🤔
Up in Canada the Chinese bought up everything not the Hedge funds. The same fate could happen to America. It's already happened to Canada austrailai and New Zelaond.
You are so right. This administration that we have right now has caused this problem to explode in the last 4 years. This data showing private equity buying single family homes is on a real estate site I watch. That and foreign buyers.
They still believe they deserve what their neighbors got last year. But they blew it. The party's over and lots of them are going to lose their shirts if they hang on to the old prices for too long.
I always wondered about people who moved to Las Vegas, Phoenix, and similar places. There was concers last summer of Lake Meade hitting a critical stage.
My brother in law has construction company. He just told me it took 5 month to get building permit in Illinois. Typical city lot with existing house on it that will be knocked down. Typical house that will be built there. No wonder inventory is tight in Chicago suburbs.
NOPE it wouldn't. Property taxes have to cover local expenses. House values go down - they have to increase tax rate. Only if your house alone would drop while other kept same value - your tax would drop. You would pay smaller percentage of the local government expenses.
Houses in North Jersey are starting to come ONTO the market a bit lower. Not many good reductions though. If rates lower in September though, those prices will shoot back through their 20 + year old roofs
Legally, it's up to the seller to set the price NOT the agent. That was a serious blunder for her to have said that. The agent can only give her client her professional advice but it's up to the seller to take it or not. And there are always plenty of greedy, clueless sellers and dumb agents out there. It's a stupid time to buy right now.
There's a lot of stupid everywhere .. especially selling agents using AI listing descriptions...I've been looking at houses for a year and can tell when they've had AI help almost instantly. Huge turn off.
@@tritonh5683 But they always seem to know what everybody else on the block got and they usually think they deserve more. I call it the "well we do have a golden toilet" syndrome.
I was somewhat surprised to see the sharp increase in listing price reductions in Charlotte,NC as well. Because as you mentioned Charlotte & the Carolinas has been such a magnet over the past 3 yrs for Northerners, Californians and some Floridians looking for lower costs better standards of living. However the migration caused a horrific increase in home values to what are now unsustainable levels. Homes that sold for $200,000 four yrs ago now have $550,000 list prices. It’s just not sustainable and the local traditionally lower southern salaries cannot afford it anymore; especially since there’s been a slight decrease in migration compared to what was happening during the lockdowns & remote work trends. Local prices need to comedown 25% to 35% to generate sustainable sales moving forward.
Here in Maine we are seeing a lot of price cuts On overpriced lake front homes especially Price reduced and things are not selling as well as they were
Got approved for a 331k home but the payments is looking triple my rent. I don’t know that I will go through with that. I’m in Florida and the builder has admitted the houses are sitting.
They cost about 3 million where I live. Homes are less than free in America and I see comments about prices going to crash. More like prices will soon double is what will happen.
This is good News I've been saying 75% Drop and Double Digit interest rates 10% Plus. You don't want Low Interest Rates that's what has caused Inflation.
The next time that interest rates drop, it'll be the bond market first, and it'll be TELLING the Fed it's time to cut because the economy is in freefall.
@@CaptainCaveman1170 I've Pretty much come to the Conclusion that the People Running the Federal.Reserve in Particular and the Government in General don't Really know what they are doing. We need more Benevolent People in Positions of Power and Decision Making.
@@lavoisier2815 I've come to the opposite conclusion...that they know exactly what they are doing! They print money and bail out every lending and wall street institution they can, hoping no one ever notices that the wealth divide grows larger and larger every time they do that.
I don't see the savings in solar panels at all. You are either paying those off or paying the electric company. I don't want any holes in my roof, ever!
Lakeland,Florida is in limbo!!!!#GreedFlation…the government,investors & municipalities have squeezed the last juice out of the fruit of the people….”we don’t have anymore extra money to pay for millionaires & billionaires lavish lifestyles because we’re to busy trying to keep our heads above water and trying not to drown with this #GreedFlation & #StagnantWages!!!!
Nobody wants the DR Horton homes being built here. They are just sitting on the market. Very bad reviews. We are sitting on 3.2% mortgage rate. Monthly is $1100. Why we need to move is the topography- slopes, and as you age, it’s not easy to maintain.
In South Florida we do have these Buy Your House in any condition companies sending out all types of mail with cash offers out to entire neighborhoods. I live in Hallandale Beach, FL
How about the hundreds of new construction 3br houses for 1700/mo. rent? It's insane, they can't sell this stuff at all. They have to take them off market and rent them or abandon them mid-construction. Bet against it big time if you wanna make money. Wait it out for at least another year, do not buy now unless you are an idiot.
Where I live rents start at $4,000 a month for a 3 bedroom fixer upper. Prices in America will never fall. All the young Canadians are trying to get visas to work in America and buy a home while prices are cheap.
I have been noticing in the NJ lower market $200-300,000 condo townhome market that a lot of the properties are up for sale with assumable mortgages. What is going on? Are these homes owned by investors? second home sellers? why would someone give up their golden handcuffs, especially at the lower market?
Loved the conversation between you both! I learned a lot. Robert sounds like a very kind and gracious person, and seems to know and understand the real estate business very well. Thanks!
High house prices are only a problem for buyers. Sellers think that high house prices are wonderful! Isn't making as much profit as possible when you sell it the whole point of buying a house?
Start early with diversified investments in stocks, bonds, and real estate. Maximize contributions to tax-advantaged accounts like 401(k)s and IRAs. Regularly review and adjust your strategy to ensure security.
People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
About to do a new build in Colorado Springs for $610k (5 bed 3 bath). I hope I don’t regret this. Just looking at Zillow lately and it seems like many houses in this price point are coming down by 5, 10, 25k every few days. I think Colorado Springs is cooling down. Many older homes here from the 70s, 80s, etc. I’d rather get a new build home the way I want it, than an older home for the same price (in many cases MORE) than a new build. The asking prices aren’t making sense and I think the market here is starting to correct.
I went 5k over on a 235k house and someone came in at 15k over with cash and no inspection. It's brutal. Low inventory and almost impossible to get the house without ultimately being upside down.
My father was a real estate agent decades ago and he can't believe some of the stuff I've seen/gone through while looking at houses. A whole bunch of amateur agents doing bad/lazy business.
I am selling my house, and we spent over 75k in renovation, and the appraisal doesn't reflect that! I get it when the seller don't give love to the house but we did alot to the house.
What you spend on renovations cannot be reflected in the price of the home. You could make back maybe 50%-60% of what you spent depending on what you renovated.
Good evening Jackie and your guest Mr Robert Garcia. I’m going to rewatch later can’t do it right now but I’m Super interested in your thoughts & information. See you later. 👋
Question What price range are you talking about? That prices are cut? And where do you recommend retirees no HOA’s with the pool no condo in the 6th to 800,000.
Question Hi Jackie would you please talk about Cape Cod? I would appreciate your view about my market. I have seen the prices being cut here as well. Thank you for your videos.
How can anyone afford these jacked up house prices??? i feel bad for ppl that bought homes at elevated prices. They are going to be stuck with inflated mortgages on houses worth half of what they paid for them.
Jackie I’m afraid to work with brokers because they seem to control how a purchase will go,I prefer to work with a listing agent and the owner.how do I go about avoiding the middle man?
I see it here in the Palm Springs area of CA. Second home market for many so many homes on the market 60 days and longer and prices are lowering month after month. Since Feb, 2024.
It will be worse then 2008 easy, and much needed. Houses here in Ogden ut have been 100k over priced and they refuse to drop them even 40k, its been a year and they are just now starting to lower prices. but are still way way over priced.
Hi I took a second mortgage on my home for a new roof but the total mortgage is still under 1000 dollars. I never plan to move from here. Been here for 16 years
$500 is just for the regular home inspector that will miss most things. You should have a roofer, a structural engineer and, if applicable, a septic/sewer inspection, and a well inspection. Big trees near the house? Include a certified arborist to catch that dead tree that is due to fall over in the next storm as removal will cost up to 20k. Through inspections by multiple experts will cost you close to $2k.
The Charlotte market is dropping because we are building like madmen. They're focusing on high density housing. We got rid of single family zoning. So they're building mostly Townhomes and apartments. Single Family homes are rarely and big you need to make a lot of money to get a new single family detached home in Charlotte. Everyone else you either get old home or luck out and find a new SF development. Good luck on that hunt though.
Demographics are changing. The old suburban 2 or 3 kids, house and yard which the husband mows on Saturday thing is over. With 2 working parents, a big house is too much work.
I have a 3.5% on $240k. Mortgage is $1700. Want to sell for about $360k to get $100k in equity so I could down size into a $240k or less home. $140k loan for about 7% after paying down the interest. So I will pay more on interest, but the mortgage payment will be lower, but I will continue paying $1800(I pay HOA). Which should be about $300 more than the mortgage. So I will pay off the loan faster and ultimately pay less. Also, keep in mind that because my loan is $100k less, each dollar is worth about 40% more. So $300 is worth $500 on this loan. So, it is equivalent to paying $1800 plus $500= $2300 on my current home which is something I CANNOT do. So, I will be in a better spot because I see a house as an expense. When it comes to the house you live in, if it doesn't provide income, it is an expense. So, I do not look forward to selling my next house for another 15 years at least. I will save around $150k and save about 20 years on the loan. So, 10 years and $150k, this means I make $15k/yr by paying $300 extra and moving. How is this a bad Idea? I am selling an inflated house to go into a less inflated house. Paying less now, later and forever. Debt-free is not necessarily the goal, but only because other property will be bought. 😂
Hallelujah!!! I’m blessed and favored with $60,000 every week! Now I can afford anything and support the work of God and the church. For Your glory, LORD! HALLELUJAH!
Absolutely! I have heard stories of people who started with little or no knowledge but managed to emerge victorious thanks to Ana Graciela Blackwelder.
This is so cool to listen to because the Realtors say exactly the same thing every time in 1990 in 2000 in 2008. There's no way it can fall that much! Then 50% of them never act as Realtors ever again. Most Don't realize that yet you don't have to understand the economy to be a realtor
It’s happening in Texas. I’m seeing those red “price reduced” indicators and it’s not only reduced by $2,000 or 5,000. We’re talking 15,000 and I’ve seen 30,000.🎉 KEEP GOING! 😂
I don't know what that neighbor's problem was, but when you say, "I'm not supposed to be in your neighborhood just like you're not supposed to be in mine"...sounds like racism.
The media wants us to think racism is everywhere, it isn't at least in the south. We have always had mixed neighborhoods. I did hear though that Boston still has separate neighborhoods for different nationalities. Not racist still, just more comfortable maybe.
What if they are the same race? There are plenty of reasons to not see eye to eye with people that has nothing todo with race. Political leanings are more important than race. My neighborhood leans a certain way and I want to keep it that way.
@@Daveyjonesvi it could be taken many ways. I am just sick and tired of the whole concept. No one cares we are all struggling together while the Democrats make us think we hate each other. It's called divide and conquer, don't let them win. It's their source of power!
Let me get this right. The price of a $100,000 house was jumped up to $450,000, and you think people should be excited about the fact that $50,000 got shaved from the price? Honestly, I dont see that bringing the buyers back to the table. Especially since the younger generation was already priced out of the markets before the prices originally jumped. Is it any wonder why a crash in the housing market is about to happen? Buying a previously owned house mean inheriting the problems that come with it, and the services sector have jumped their prices as well. This means that the only possible buyers from the general public will be those who can do their own home repairs and be desparate to buy while having a very dependable job. There's not too many people who fit that category any longer and corporate firing has dramatically increased this past quarter. And there are reports of builders shutting down in the midwest due to lack of sales. Timber companies and sawmills are shutting down in the northwest. There has never been a worse time to buy a house in the US since the last great depression. Sadly, government spending and printing has destroyed our economy. Just off hand, Id say the nation has began its decent into a hard depression. Ive never been a politally correct person because I thought it got in the way of being an honest person. I guess its not what the public wants to hear these days. But I will put my buck on the honest approach any day. Its less finacially suicidal.
Understand. If we hit depression levels which is what most economist are saying where we are heading, sellers will be lucky to get 10% of what the seller paid for the house. And with the policies being passed down by the WEF, we will be lucky if many of us don't starve.
@@jameslee-dp6cb The same $450,000 will be selling for over a million in less than 5 years time. The same guy will be telling everyone on youtube about 4 or 5 years from now he could have bought this same house for $450,000 4 or 5 years ago.
Agents do not really price houses. It’s the buyers that do with their pockets. Agents are still basing the comps on overpriced real estate from the last 2 to 3 years. We should be beating down from prices from 2019. So comps are irrelevant. Rates are irrelevant. we don’t care what the fed will do anymore. We decide how much a house is worth and not the realtors.
At rhe county level, it would be nice id they limited the number of investors and investor companies from coming in and purchasing up all the real estate. They, along with Airbnb, I think, are what's contributing to the price increases.
I think the whole thing is a sham because what else appreciates beside real estate? I'm a building code official and can tell you the quality of construction especially by national builders is very poor. A superintendent I know would build a house and sell it within six years because he said that's when the whole thing would fall apart.
I believe that many sellers are thinking that the price peak is done and prices are going down, making the sellers in a hurry to sell their properties ASAP. One of their solutions is to reduce the price to meet the affordability of the buyers.
I don't you think you realize that things have been moving with those people. You are expecting to be waiting on the sidelines to buy. Many of them have maxed out their credit cards and have had to open new credit cards and Max those out. Many of them has have had cars repossessed and many of them are about to go into default on their student loans. The reality is, I've a lot fewer of the people who wanted to buy before can actually qualify for a mortgage. So I don't think you should anticipate the big flood of buyers. It'll probably be 50% to 30% of the people who had dreams of purchasing before the researcher
Great conversation. I'm locked into a 2.6% rate on my home. I couldn't afford to sell and buy anything else unless it was a motorhome. I'm not being sarcastic either as the van/RV living channels have picked up steam and popularity as an affordable way to live.
Listen prices will go down- there is a limit. People are pushed to it now. When there is no more money there is just no more money. You can charge whatever you want for a house but people will not buy it if they can't afford it. If a recession does hit - there is no safe space.
South Jersey is pretty nuts too in certain townships. Bought in Cherry Hill and Homebot says I'm up from $335k --> $390k in a fuckin year. Absolutely insane.
There are certainly many reasons to move, so what will change your mind? What about "Remodeling" or adding an addition to your present home? Will that change your mind? Statistically speaking, how many individuals are going to have a pension that's decent enough to make the move happen? What about your company moving to another state? So many reasons to move!
People are moving because their neighborhoods are changing in a downhill trajectory due to increasing crime, or they are escaping their state politics, or they have lost their jobs, or are getting divorced and can't afford to keep the house. If they could just remodel, they would. Unfortunately, remodeling your home does not fix the declining neighborhood, the politics of your county, force your job to keep you or make your spouse not want to leave.
The Fed cutting rates does not directly impact mortgage rates. Mortgage rates track the 10 year treasury. We have to stop spreading the misconception that a Fed rate cut equals a mortgage rate decrease. Also, if the Fed cuts it is not a good sign. If they cut it is because the economy is in trouble. They are cutting to stop the bleeding.
It does affect the variable rate mortgages and the one year mortgage. It also fleeces the peplke buying 90 day T-blls and dialy interest savings accounts.
The Fed is not trying to lower inflation. They are just pandering people who don’t know or remember history. It is very deep issue that is too long to type it here.
The ratea do respond to the fed rate. While yhe fed rate isn't directly the number lenders use, it's demented to pr we twnd that the fed i terest rates dont have an effect on home loan lenders. You watched the fed rates go up and the mortgage rates went up quickly after. As the fed rate lowers, the mortgage rates will lower. 😂 why the denialism? The fed rate was close to 0 and the mortgage rate was lowest in history. Theae things are connected.
Um trying to buy a small lot and live in a teepee but I bet code enforcement or local government municipalities will have a problem with that!!!…although I pay well over than my fare share of taxes!!!!…as a matter of facts if they didn’t take so much out my paycheck every week i could afford a car,apartment or home & i don’t have neither..i’m living with family in Lakeland,Florida although I make $31.20 per hour with a good FICO score!!!…I hope & pray the #RealEstateIndustry,Banks & mortgage lenders aren’t up to their old tricks again with #Redlining!!!
Why slash prices if home prices will double again in the next 3 to 4 years? The buyers will figure it out American real estate is among the cheapest on the entire planet.
Unfortunately, they can't lower interest rates to satisfy the Realtors because they will need room to lower when unemployment hits its high. Despite what you hear, they're going to have to hold the interest rate moves until the economy gets really bad So they have the greatest impact
So many people, especially industry people, are so ADAMANT that 2019 prices are "not coming back", that it has now become my base case that they are coming back (in most places). And I have nothing to gain personally if they do.
It's like wishing prices came back to 1970 1980 or 1990 amounts. They're not. If you look at housing pricing trends they always go up. Sometimes they just go up faster or slower, but always up.
@@tylertyler82 People in Japan believed the same thing in 89 right before their own demographic cliff arrived. I am not wishing it as I stand to lose a lot. I am simply predicting it. Prices weren't even historically cheap in 2019.
We have the power don’t let uneducated greedy sellers try to take advantage of you!!! Is there’s no seller concessions and AS IS - RUN !!!! We the buyers have the power!!!
Just because we don’t see for sale signs up in other housing markets doesn’t mean there is nothing brewing under the surface facing the possibility of erupting. There is nothing to worry about yet but there are problems brewing like more women hitting age 30 and over not in a heterosexual relationship hitting the wall of trying to stay in shape and keep their beauty. Allot more women are seeing issues with the biological clock ticking away every month and year as we know with reports of record low birthrate would create a future maternity crisis. When more single women resort to renting apartments it increases a shorter supply of affordable housing. To be a single woman, it’s going to become hell the older they are single living because the focus becomes more and more on money money. When single home values do drop in the 2030s. The social humanitarian crisis will have gotten far much worse when allot of women can not have children and logically think taking on a 30 year mortgage is within budget or retirement. Boom!!!! Like explosion, it will be over for the US housing market. We men will be like we knew this was predicted coming years ago when women couldn’t find any good men as they say in life just hit the wall to being forced to stay single renting apartments.
@@arabee4497 That is not the point, the point is the dating and relationship of young adults will determine the future of homeownership. This is something you won’t connect with right away how the housing market will face major problems with an aging population over the age of 45 no longer procreating and raising children under the age of 18. Fertility rate has been declining for years an even the U.S. government is more concerned about the long term outcome of fewer tax payers,higher debt and borrowing money through Treasury bonds. The interest rates and dedollarization could and can reap havoc on the future of the U.S. economy. This is my point. Home prices should fall beyond year 2027 but exactly who will be moving into homeownership with lower marriage and fertility rates is going observed in later times.
The book, intelligent investor says when assets fall from all time high to a all time low, it will bounce back 50% and then dip 20% leaving it at 30% increased from all time low. Now I believe see stocks and crypto hit all time high while the realestate and car/trucks market reach all time low. Now that stocks and cryptos are at all all time low… realestate and auto are all time high. Now recently the average stock market and crypto recently recovered 30% and certain areas in my are have experienced the 30% dip. There is also a book “the crowd” crowds are form to destroy. That same energy is similar to institutes inventory of realestate. The show is just starting 😂 we also have gate keepers keeping all the new buildings on the low low… they didn’t hit market yet…. Andddd black rock and them other dudes didn’t act yet… they are waiting… banks are frozen and like stocks, when institutes get in on a stock they create a market from it and keep it flowing. Meaning we seen institute buy up stocks then create a low so new money can flow in and new contracts can be made. 10-40 yr contracts lmao. 😜 be ready some folks are going to be rich rich. That’s why the ramp up on luxury homes
We cannot sit here and believe all asset goes up at the same time. We have to utilized other asset class and the world liquidity. They draining the swamp. 😂 I’m serious l. Anyways I hope the gov finds a way to reward the American investors… and I think they are working on that in silence because we have a lot of heynas waiting on the feds and our country to drain liquidity 😂
There are two bills being discussed in congress that if either pass will affect the housing market. The Feds want to end Hedge Fund and investment property ownership. If either passes, it will cause these investment companies to divest within 10 years and will flood the market with millions of single family homes. The biggest problem with the market today is hedge fund / investment property owners buying up entire tracks of homes before they are even built. The average home buy can't compete with them. Inventory is NOT the issue... it's the investment buyers buying up all the homes.
THANK YOU FOR SAYING THIS.....this is the primary reason we are in this mess....RICH INVESTORS flooding the market these are not real home buyers....they are opportunist millionaires who want more money 💰 🤔
Up in Canada the Chinese bought up everything not the Hedge funds. The same fate could happen to America. It's already happened to Canada austrailai and New Zelaond.
You are so right. This administration that we have right now has caused this problem to explode in the last 4 years. This data showing private equity buying single family homes is on a real estate site I watch. That and foreign buyers.
Thank you for sharing this!
@@JetJ321 Unfortunately...both parties are in these investor/campaign contributors pockets
Who wants to buy condos and town houses with THE HOA are so high!!!
My point exactly
The cheapest building insurance in Florida just went up FOURTEEN PERCENT for this year. And we all know it won't go down next year.
Single people who don’t need a $500k home.
Who wants to buy anything with an HOA ever?? Amen.
@@1bluegreen2 Seniors who don’t want the responsibility of maintaining lawns, roofs pools, and many other things😮
Guess people are figuring it out and are starting to reduce asking the price, but there still over priced.
They still believe they deserve what their neighbors got last year. But they blew it. The party's over and lots of them are going to lose their shirts if they hang on to the old prices for too long.
They are still taking about interest rates haha
@@JoaninFloridayep! Let them sit
The people that are selling at reduced prices are motivated sellers many of them selling because they can no longer afford to stay.😮
I notice listings skyrocketing in my area. No foreclosures
And no drops yet.
If the prrice don't drop to 2019 prices its not for me
Yes, as corporations quietly continue the buy out
Prices going down while assessment and HOA rates go up
Insurance is out of control.
agree.
I hope people are researching where they are moving to. A lot of landlocked "fly over" areas are reliant on drying up aquifers.
I always wondered about people who moved to Las Vegas, Phoenix, and similar places. There was concers last summer of Lake Meade hitting a critical stage.
@@jc1979afthey're fucking delusional😂 when reality hits the south coast and southwest usa, people won't be in a great position
My brother in law has construction company. He just told me it took 5 month to get building permit in Illinois. Typical city lot with existing house on it that will be knocked down. Typical house that will be built there. No wonder inventory is tight in Chicago suburbs.
Mine could get slashed $150,000 and I'd praise God. It would cut my property taxes.
NOPE it wouldn't. Property taxes have to cover local expenses. House values go down - they have to increase tax rate. Only if your house alone would drop while other kept same value - your tax would drop. You would pay smaller percentage of the local government expenses.
@@wacio They were doing all right a couple of years ago before B!den's administration and it's inflation.
@@-OBELUS- Sure - but we are not going back to these times. Property taxes are not likely to go lower unless your local housing market crashes.
@@wacio I hope it does. It went up on Zillow about $5,000 YESTERDAY. CoreLogic stays about the same. I think Zillow is up to some shenanigans.
And that's what a lot of homeowners forget to apply to their tax assessor for a deduction on property taxes when value is lowered.
Houses in North Jersey are starting to come ONTO the market a bit lower. Not many good reductions though.
If rates lower in September though, those prices will shoot back through their 20 + year old roofs
Can't wait for NJ home prices to decrease
I don't think it will happen because the state has the highest population density and new yorkers migrate in
Legally, it's up to the seller to set the price NOT the agent. That was a serious blunder for her to have said that. The agent can only give her client her professional advice but it's up to the seller to take it or not. And there are always plenty of greedy, clueless sellers and dumb agents out there. It's a stupid time to buy right now.
There's a lot of stupid everywhere .. especially selling agents using AI listing descriptions...I've been looking at houses for a year and can tell when they've had AI help almost instantly. Huge turn off.
Most sellers don’t know anything about the housing market.
@@tritonh5683 But they always seem to know what everybody else on the block got and they usually think they deserve more. I call it the "well we do have a golden toilet" syndrome.
Interest rates can be 20 percent. We don't care if we can get the homes for $50, 000.
I was somewhat surprised to see the sharp increase in listing price reductions in Charlotte,NC as well. Because as you mentioned Charlotte & the Carolinas has been such a magnet over the past 3 yrs for Northerners, Californians and some Floridians looking for lower costs better standards of living. However the migration caused a horrific increase in home values to what are now unsustainable levels. Homes that sold for $200,000 four yrs ago now have $550,000 list prices. It’s just not sustainable and the local traditionally lower southern salaries cannot afford it anymore; especially since there’s been a slight decrease in migration compared to what was happening during the lockdowns & remote work trends. Local prices need to comedown 25% to 35% to generate sustainable sales moving forward.
Here in Maine we are seeing a lot of price cuts
On overpriced lake front homes especially
Price reduced and things are not selling as well as they were
Got approved for a 331k home but the payments is looking triple my rent. I don’t know that I will go through with that. I’m in Florida and the builder has admitted the houses are sitting.
They cost about 3 million where I live. Homes are less than free in America and I see comments about prices going to crash. More like prices will soon double is what will happen.
This is good News I've been saying 75% Drop and Double Digit interest rates 10% Plus. You don't want Low Interest Rates that's what has caused Inflation.
The next time that interest rates drop, it'll be the bond market first, and it'll be TELLING the Fed it's time to cut because the economy is in freefall.
@@CaptainCaveman1170 I've Pretty much come to the Conclusion that the People Running the Federal.Reserve in Particular and the Government in General don't Really know what they are doing. We need more Benevolent People
in Positions of Power and Decision Making.
@@lavoisier2815 I've come to the opposite conclusion...that they know exactly what they are doing! They print money and bail out every lending and wall street institution they can, hoping no one ever notices that the wealth divide grows larger and larger every time they do that.
Double digit interest rates are the reason retirees and everyone else are moving to Mexico.
I don't see the savings in solar panels at all. You are either paying those off or paying the electric company. I don't want any holes in my roof, ever!
Lakeland,Florida is in limbo!!!!#GreedFlation…the government,investors & municipalities have squeezed the last juice out of the fruit of the people….”we don’t have anymore extra money to pay for millionaires & billionaires lavish lifestyles because we’re to busy trying to keep our heads above water and trying not to drown with this #GreedFlation & #StagnantWages!!!!
@@shannondavis5728 tell me about it. But inventory here in polk county, fl. is really rising and most homes have been on the market for 60 days.
Nobody wants the DR Horton homes being built here. They are just sitting on the market. Very bad reviews.
We are sitting on 3.2% mortgage rate. Monthly is $1100. Why we need to move is the topography- slopes, and as you age, it’s not easy to maintain.
Same situation here
They'll be wanted...when they meet buyers at the correct price.
@@CaptainCaveman1170 They have horrible reviews. Check out DRH reviews.
Those DR Horton neighborhoods look so terrible. Might as well look at a manufactured home. Cookie cutter boxes. Yuck.
@@toddwerther188 I feel the same way. But check out some actual reviews. Yikes!
150k houses have been sitting on the market here for a whole year here in southern Central Virginia on the North Carolina Virginia border ..
Great price, why are they sitting?
@@JetJ321 probably because the closest grocery store is 40 minutes away and high speed internet will be available "any month now"
@@JetJ321 its Virginia
Virginia is beautiful! The places I've seen at least
That’s the real truth, all sellers feels entitled to price their houses so highly, I have seeing so many properties stuck for months
In South Florida we do have these Buy Your House in any condition companies sending out all types of mail with cash offers out to entire neighborhoods. I live in Hallandale Beach, FL
How about the hundreds of new construction 3br houses for 1700/mo. rent? It's insane, they can't sell this stuff at all. They have to take them off market and rent them or abandon them mid-construction. Bet against it big time if you wanna make money. Wait it out for at least another year, do not buy now unless you are an idiot.
@billscott6819 here in rhode 3br could be $3500.00 nothing included.
Where I live rents start at $4,000 a month for a 3 bedroom fixer upper. Prices in America will never fall. All the young Canadians are trying to get visas to work in America and buy a home while prices are cheap.
I have been noticing in the NJ lower market $200-300,000 condo townhome market that a lot of the properties are up for sale with assumable mortgages. What is going on? Are these homes owned by investors? second home sellers? why would someone give up their golden handcuffs, especially at the lower market?
That's interesting. I have not heard that about New Jersey.
When I sell my houses and duplexes I say no investors until X date. Then a local 1st time buyer has a chance. Any seller can and should do the same.
Loved the conversation between you both! I learned a lot. Robert sounds like a very kind and gracious person, and seems to know and understand the real estate business very well. Thanks!
High house prices are only a problem for buyers. Sellers think that high house prices are wonderful! Isn't making as much profit as possible when you sell it the whole point of buying a house?
Start early with diversified investments in stocks, bonds, and real estate. Maximize contributions to tax-advantaged accounts like 401(k)s and IRAs. Regularly review and adjust your strategy to ensure security.
People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
Love these videos. Please keep them coming!
Thank you! ❤️
About to do a new build in Colorado Springs for $610k (5 bed 3 bath). I hope I don’t regret this. Just looking at Zillow lately and it seems like many houses in this price point are coming down by 5, 10, 25k every few days. I think Colorado Springs is cooling down. Many older homes here from the 70s, 80s, etc. I’d rather get a new build home the way I want it, than an older home for the same price (in many cases MORE) than a new build. The asking prices aren’t making sense and I think the market here is starting to correct.
I noticed the springs was cooling s few months ago,I lived there for many years,the crime is out of control.
@@dennyfieahh yes crime... How nice amidst this housing market lol
Wow. Crime in the springs? I lived there when the homes were 150k. About 15 years ago, left 8 years ago. Sad. Way too overpriced for wages there.
Yes Katie the springs had been slowing all year.i follow that mkt.wad a long time resident of Manitou and the Springs.
Where I live I've made 5 different offers at 15000 over asking and lost every one.
Thank God you didn't sign a deal. Now is not the time to buy.
What market do you live in?
I went 5k over on a 235k house and someone came in at 15k over with cash and no inspection. It's brutal. Low inventory and almost impossible to get the house without ultimately being upside down.
@@1bluegreen2
Rockford, Illinois.
In Canada back in 2022 people overbidding by a millon dolllars stil lost bidding wars.
Not so much in Scottsdale🌵, Arizona. We still have people moving here in droves.
Not after the water dries up.
What actual value do real estate agents provide ? Absolutely nothing they just drive the prices up 😢
My father was a real estate agent decades ago and he can't believe some of the stuff I've seen/gone through while looking at houses. A whole bunch of amateur agents doing bad/lazy business.
I am selling my house, and we spent over 75k in renovation, and the appraisal doesn't reflect that! I get it when the seller don't give love to the house but we did alot to the house.
What you spend on renovations cannot be reflected in the price of the home. You could make back maybe 50%-60% of what you spent depending on what you renovated.
Never spend more than $5,000 on the kitchen and bathrooms combined.
Florida has a 3% cap. Plus if it is your homestead their are other breaks.
You need to tell the reason why these metro areas are slashing prices. The reason is because they are all coastal and they are all flooding.
B-b-but, then people wouldn't be scared and click the video
Good evening Jackie and your guest Mr Robert Garcia. I’m going to rewatch later can’t do it right now but I’m Super interested in your thoughts & information. See you later. 👋
ok well thanks for letting us know
Why are people complaining with a 1300/mo mortgage in a plave like jersey? No one grateful for what they have anymore.
She was not complaining. She was very grateful.
Question
What price range are you talking about? That prices are cut? And where do you recommend retirees no HOA’s with the pool no condo in the 6th to 800,000.
Boycott real estate, force the prices down.
Real estate agents will tell you that won't work 😂
Question Hi Jackie would you please talk about Cape Cod? I would appreciate your view about my market. I have seen the prices being cut here as well. Thank you for your videos.
I'll mention it on the next livestream
@@JackieBaker Thank you so much 😊
How can anyone afford these jacked up house prices??? i feel bad for ppl that bought homes at elevated prices. They are going to be stuck with inflated mortgages on houses worth half of what they paid for them.
Only people that can afford them are young couples/couples and flippers
Jackie I’m afraid to work with brokers because they seem to control how a purchase will go,I prefer to work with a listing agent and the owner.how do I go about avoiding the middle man?
I see it here in the Palm Springs area of CA. Second home market for many so many homes on the market 60 days and longer and prices are lowering month after month. Since Feb, 2024.
It will be worse then 2008 easy, and much needed. Houses here in Ogden ut have been 100k over priced and they refuse to drop them even 40k, its been a year and they are just now starting to lower prices. but are still way way over priced.
Great discussions!!
Delaware has seen taxes on home double. Delaware houses have been over priced so now they are being reassessed.
So annoying to hear people bragging about their 3% interest rates....so insensitive too
Hi I took a second mortgage on my home for a new roof but the total mortgage is still under 1000 dollars. I never plan to move from here. Been here for 16 years
I think a full inspection ($500) is much more through than just a walk and talk ($199) which is just from the outside
$500 is just for the regular home inspector that will miss most things. You should have a roofer, a structural engineer and, if applicable, a septic/sewer inspection, and a well inspection. Big trees near the house? Include a certified arborist to catch that dead tree that is due to fall over in the next storm as removal will cost up to 20k. Through inspections by multiple experts will cost you close to $2k.
The Charlotte market is dropping because we are building like madmen. They're focusing on high density housing. We got rid of single family zoning. So they're building mostly Townhomes and apartments. Single Family homes are rarely and big you need to make a lot of money to get a new single family detached home in Charlotte. Everyone else you either get old home or luck out and find a new SF development. Good luck on that hunt though.
Demographics are changing. The old suburban 2 or 3 kids, house and yard which the husband mows on Saturday thing is over. With 2 working parents, a big house is too much work.
I have a 3.5% on $240k. Mortgage is $1700.
Want to sell for about $360k to get $100k in equity so I could down size into a $240k or less home. $140k loan for about 7% after paying down the interest. So I will pay more on interest, but the mortgage payment will be lower, but I will continue paying $1800(I pay HOA). Which should be about $300 more than the mortgage. So I will pay off the loan faster and ultimately pay less.
Also, keep in mind that because my loan is $100k less, each dollar is worth about 40% more. So $300 is worth $500 on this loan. So, it is equivalent to paying $1800 plus $500= $2300 on my current home which is something I CANNOT do. So, I will be in a better spot because I see a house as an expense. When it comes to the house you live in, if it doesn't provide income, it is an expense. So, I do not look forward to selling my next house for another 15 years at least. I will save around $150k and save about 20 years on the loan. So, 10 years and $150k, this means I make $15k/yr by paying $300 extra and moving. How is this a bad Idea? I am selling an inflated house to go into a less inflated house. Paying less now, later and forever. Debt-free is not necessarily the goal, but only because other property will be bought. 😂
Next time just pay cash.
Please add link to article
Rates are down, so what on earth???
The 10 year has bounced from 4.21 off the recent low to around 4.27 percent today.
Hallelujah!!! I’m blessed and favored with $60,000 every week! Now I can afford anything and support the work of God and the church. For Your glory, LORD! HALLELUJAH!
Oh really? Tell me more! Always interested in hearing stories of successes.
This is what Ana Graciela Blackwelder does, she has changed my life.
After raising up to 60k trading with her, I bought a new house and car here in the US and also paid for my son’s (Oscar) surgery. Glory to God.shalom.
I know Ana Graciela Blackwelder, and I have also had success...
Absolutely! I have heard stories of people who started with little or no knowledge but managed to emerge victorious thanks to Ana Graciela Blackwelder.
This is so cool to listen to because the Realtors say exactly the same thing every time in 1990 in 2000 in 2008. There's no way it can fall that much! Then 50% of them never act as Realtors ever again. Most Don't realize that yet you don't have to understand the economy to be a realtor
Any teal estate updates for Michigan
It’s happening in Texas. I’m seeing those red “price reduced” indicators and it’s not only reduced by $2,000 or 5,000. We’re talking 15,000 and I’ve seen 30,000.🎉 KEEP GOING! 😂
Your right “This crazy world “
Certainly is!
I don't know what that neighbor's problem was, but when you say, "I'm not supposed to be in your neighborhood just like you're not supposed to be in mine"...sounds like racism.
The media wants us to think racism is everywhere, it isn't at least in the south. We have always had mixed neighborhoods. I did hear though that Boston still has separate neighborhoods for different nationalities. Not racist still, just more comfortable maybe.
@@JetJ321saying what the op said can be taken racistly and they’d be right to feel that way
What if they are the same race? There are plenty of reasons to not see eye to eye with people that has nothing todo with race. Political leanings are more important than race. My neighborhood leans a certain way and I want to keep it that way.
@@DybbukDEpstein good point. I was also thinking from the financial aspect. There areany ways to take this
@@Daveyjonesvi it could be taken many ways. I am just sick and tired of the whole concept. No one cares we are all struggling together while the Democrats make us think we hate each other. It's called divide and conquer, don't let them win. It's their source of power!
Let me get this right. The price of a $100,000 house was jumped up to $450,000, and you think people should be excited about the fact that $50,000 got shaved from the price? Honestly, I dont see that bringing the buyers back to the table. Especially since the younger generation was already priced out of the markets before the prices originally jumped. Is it any wonder why a crash in the housing market is about to happen? Buying a previously owned house mean inheriting the problems that come with it, and the services sector have jumped their prices as well. This means that the only possible buyers from the general public will be those who can do their own home repairs and be desparate to buy while having a very dependable job. There's not too many people who fit that category any longer and corporate firing has dramatically increased this past quarter. And there are reports of builders shutting down in the midwest due to lack of sales. Timber companies and sawmills are shutting down in the northwest. There has never been a worse time to buy a house in the US since the last great depression. Sadly, government spending and printing has destroyed our economy. Just off hand, Id say the nation has began its decent into a hard depression. Ive never been a politally correct person because I thought it got in the way of being an honest person. I guess its not what the public wants to hear these days. But I will put my buck on the honest approach any day. Its less finacially suicidal.
Understand. If we hit depression levels which is what most economist are saying where we are heading, sellers will be lucky to get 10% of what the seller paid for the house. And with the policies being passed down by the WEF, we will be lucky if many of us don't starve.
@@jameslee-dp6cb The same $450,000 will be selling for over a million in less than 5 years time. The same guy will be telling everyone on youtube about 4 or 5 years from now he could have bought this same house for $450,000 4 or 5 years ago.
Agents do not really price houses. It’s the buyers that do with their pockets. Agents are still basing the comps on overpriced real estate from the last 2 to 3 years. We should be beating down from prices from 2019. So comps are irrelevant. Rates are irrelevant. we don’t care what the fed will do anymore. We decide how much a house is worth and not the realtors.
At rhe county level, it would be nice id they limited the number of investors and investor companies from coming in and purchasing up all the real estate. They, along with Airbnb, I think, are what's contributing to the price increases.
Yes I slashed my home price so bad by 50,000
I think the whole thing is a sham because what else appreciates beside real estate?
I'm a building code official and can tell you the quality of construction especially by national builders is very poor. A superintendent I know would build a house and sell it within six years because he said that's when the whole thing would fall apart.
I believe that many sellers are thinking that the price peak is done and prices are going down, making the sellers in a hurry to sell their properties ASAP. One of their solutions is to reduce the price to meet the affordability of the buyers.
THe buyers have their heads in the clouds soon they'll be paying double for a home.
10 percent off in NOVA/DC metro?! Not in my lifetime lol
If interest rates drop that will not help the house prices come down.
I don't you think you realize that things have been moving with those people. You are expecting to be waiting on the sidelines to buy. Many of them have maxed out their credit cards and have had to open new credit cards and Max those out. Many of them has have had cars repossessed and many of them are about to go into default on their student loans. The reality is, I've a lot fewer of the people who wanted to buy before can actually qualify for a mortgage. So I don't think you should anticipate the big flood of buyers. It'll probably be 50% to 30% of the people who had dreams of purchasing before the researcher
Great info guys
Great conversation. I'm locked into a 2.6% rate on my home. I couldn't afford to sell and buy anything else unless it was a motorhome. I'm not being sarcastic either as the van/RV living channels have picked up steam and popularity as an affordable way to live.
I'd still consider yourself lucky that you are where you're at!
All depends where ya live or want to live .. hot markets remain the same
Listen prices will go down- there is a limit. People are pushed to it now. When there is no more money there is just no more money. You can charge whatever you want for a house but people will not buy it if they can't afford it. If a recession does hit - there is no safe space.
Nice update
Renting will always lose out compared to owning
South Jersey is pretty nuts too in certain townships. Bought in Cherry Hill and Homebot says I'm up from $335k --> $390k in a fuckin year. Absolutely insane.
Watch your language. Not everyone is low class.
@@JohnLee-im7iu … did you just tell me to “watch my language” in RUclips comments?
Okay boomer
There are certainly many reasons to move, so what will change your mind? What about "Remodeling" or adding an addition to your present home? Will that change your mind? Statistically speaking, how many individuals are going to have a pension that's decent enough to make the move happen? What about your company moving to another state? So many reasons to move!
People are moving because their neighborhoods are changing in a downhill trajectory due to increasing crime, or they are escaping their state politics, or they have lost their jobs, or are getting divorced and can't afford to keep the house. If they could just remodel, they would. Unfortunately, remodeling your home does not fix the declining neighborhood, the politics of your county, force your job to keep you or make your spouse not want to leave.
The Fed cutting rates does not directly impact mortgage rates. Mortgage rates track the 10 year treasury. We have to stop spreading the misconception that a Fed rate cut equals a mortgage rate decrease.
Also, if the Fed cuts it is not a good sign. If they cut it is because the economy is in trouble. They are cutting to stop the bleeding.
It does affect the variable rate mortgages and the one year mortgage. It also fleeces the peplke buying 90 day T-blls and dialy interest savings accounts.
The Fed is not trying to lower inflation. They are just pandering people who don’t know or remember history. It is very deep issue that is too long to type it here.
The ratea do respond to the fed rate. While yhe fed rate isn't directly the number lenders use, it's demented to pr we twnd that the fed i terest rates dont have an effect on home loan lenders. You watched the fed rates go up and the mortgage rates went up quickly after. As the fed rate lowers, the mortgage rates will lower. 😂 why the denialism? The fed rate was close to 0 and the mortgage rate was lowest in history. Theae things are connected.
NJ isn't going to go lower. Somehow, lots of homes in the NE still going up. Crazy.
The ocean is too close and the Chinese like the ocean down in Atlantic City.
Can’t sell at any price cuz I can’t buy at these prices. Need a house to live in. Delisting.
Is it because they are avoiding high cost assessments?
Great video!!
Um trying to buy a small lot and live in a teepee but I bet code enforcement or local government municipalities will have a problem with that!!!…although I pay well over than my fare share of taxes!!!!…as a matter of facts if they didn’t take so much out my paycheck every week i could afford a car,apartment or home & i don’t have neither..i’m living with family in Lakeland,Florida although I make $31.20 per hour with a good FICO score!!!…I hope & pray the #RealEstateIndustry,Banks & mortgage lenders aren’t up to their old tricks again with #Redlining!!!
Why slash prices if home prices will double again in the next 3 to 4 years? The buyers will figure it out American real estate is among the cheapest on the entire planet.
Unfortunately, they can't lower interest rates to satisfy the Realtors because they will need room to lower when unemployment hits its high. Despite what you hear, they're going to have to hold the interest rate moves until the economy gets really bad So they have the greatest impact
Florida is losing people due to the climate and HOA FEES
Most Mortgage Holders in Canada 🇨🇦 have a Mortgage Term of 5 years or less ….
I'm looking one house buy it cash price between 100,000 Pennsylvania area let me know if you know
I'm sorry, Jackie.., But I'm feeling very Mr Monk-edgy about that shelving on your wall (maybe it's because I'm left and it's not)? No, it's just me.
Homes are WAY too expensive.
That's sad Iam one !
So many people, especially industry people, are so ADAMANT that 2019 prices are "not coming back", that it has now become my base case that they are coming back (in most places). And I have nothing to gain personally if they do.
It's like wishing prices came back to 1970 1980 or 1990 amounts. They're not. If you look at housing pricing trends they always go up. Sometimes they just go up faster or slower, but always up.
@@tylertyler82 People in Japan believed the same thing in 89 right before their own demographic cliff arrived. I am not wishing it as I stand to lose a lot. I am simply predicting it. Prices weren't even historically cheap in 2019.
How come anyone expects that a local agent will tell prices will go down. Then literally that realtor needs to go on unemployment..
We have the power don’t let uneducated greedy sellers try to take advantage of you!!! Is there’s no seller concessions and AS IS - RUN !!!! We the buyers have the power!!!
Exactly! People need to discipline themselves and let them sit.
Just because we don’t see for sale signs up in other housing markets doesn’t mean there is nothing brewing under the surface facing the possibility of erupting. There is nothing to worry about yet but there are problems brewing like more women hitting age 30 and over not in a heterosexual relationship hitting the wall of trying to stay in shape and keep their beauty. Allot more women are seeing issues with the biological clock ticking away every month and year as we know with reports of record low birthrate would create a future maternity crisis. When more single women resort to renting apartments it increases a shorter supply of affordable housing. To be a single woman, it’s going to become hell the older they are single living because the focus becomes more and more on money money. When single home values do drop in the 2030s. The social humanitarian crisis will have gotten far much worse when allot of women can not have children and logically think taking on a 30 year mortgage is within budget or retirement. Boom!!!! Like explosion, it will be over for the US housing market. We men will be like we knew this was predicted coming years ago when women couldn’t find any good men as they say in life just hit the wall to being forced to stay single renting apartments.
You sound like you hope women become desperate so you could get one.
@@arabee4497 That is not the point, the point is the dating and relationship of young adults will determine the future of homeownership. This is something you won’t connect with right away how the housing market will face major problems with an aging population over the age of 45 no longer procreating and raising children under the age of 18. Fertility rate has been declining for years an even the U.S. government is more concerned about the long term outcome of fewer tax payers,higher debt and borrowing money through Treasury bonds. The interest rates and dedollarization could and can reap havoc on the future of the U.S. economy. This is my point. Home prices should fall beyond year 2027 but exactly who will be moving into homeownership with lower marriage and fertility rates is going observed in later times.
The book, intelligent investor says when assets fall from all time high to a all time low, it will bounce back 50% and then dip 20% leaving it at 30% increased from all time low. Now I believe see stocks and crypto hit all time high while the realestate and car/trucks market reach all time low. Now that stocks and cryptos are at all all time low… realestate and auto are all time high. Now recently the average stock market and crypto recently recovered 30% and certain areas in my are have experienced the 30% dip. There is also a book “the crowd” crowds are form to destroy. That same energy is similar to institutes inventory of realestate. The show is just starting 😂 we also have gate keepers keeping all the new buildings on the low low… they didn’t hit market yet…. Andddd black rock and them other dudes didn’t act yet… they are waiting… banks are frozen and like stocks, when institutes get in on a stock they create a market from it and keep it flowing. Meaning we seen institute buy up stocks then create a low so new money can flow in and new contracts can be made. 10-40 yr contracts lmao. 😜 be ready some folks are going to be rich rich. That’s why the ramp up on luxury homes
We cannot sit here and believe all asset goes up at the same time. We have to utilized other asset class and the world liquidity. They draining the swamp. 😂 I’m serious l. Anyways I hope the gov finds a way to reward the American investors… and I think they are working on that in silence because we have a lot of heynas waiting on the feds and our country to drain liquidity 😂
Sell high Buy higher
Wippany nj here