Housing Market Has Reached a Turning Point
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- Опубликовано: 20 окт 2024
- Lower rates could be finally thawing the frozen housing market. The market could be finally reaching a turning point. My good friend Jen Sylvester will be joining me to talk about this change in the market.
Thanks for being here to get your dose of real estate reality! 🏡
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Wow a little tiny drop,yet homes are still triple what they were in 2019.
You guys are funny! NOTHING is thawing here in Massachusetts. That’s why I’m selling my parents’ home, moving to North Carolina, and plunking down a huge down payment on a new house that will cost half of what a house will cost here. I am pricing the house, which is on the South Shore, reasonably, so I hope it moves quickly… so I can move quickly!!!
I 100% agree on that feeling in Massachusetts! I'm on the South Shore and inventory is still hard to find with houses selling right away.
Have fun in hillbilly hell
I am not a real estate agent - but I have eyes and I have lived on Long Island for a long time. Things are slowing down. People are not moving but people are done with these prices. There just comes a breaking point. Taxes, upkeep, oil, closing fees. People do run out of money. I sold my house in a week. Priced it correctly. Now, I will wait to buy a house for at least a year in VA. I think we are in a downturn. Watching houses sit on market- but very small deductions. Sellers trying to stick to outrageous prices. When the market tips it will tip hard. The signs are building.
It’s not going to crash. Lose the dream.
@@tylertyler82 no dream. It would be awful for the entire economy. But, if sellers are put into a corner where they held onto their price to long - well then a crash is unavoidable. A gradual realistic decrease to reality is better. Not this standoff where the fall be huge.
Wishful thinking.
@@seanm3226 on your part
I bought a home in 2014 for 195k. The next upgrade for us is around 600k. Although we can afford it (make around 250k a year and have no debt) im not paying 600k for a house at 7.5% interest! No way. My payment is $900 a month.
Like the channel, I'm a boomer with 3% mortgage 6k sq.ft house on 1 acre too much overhead ,cashed out downsized moved with my life.
You two are great. Thank you. 🤩
Thank you for watching!!
Dishwasher drain suggestion: That is true, it happened at our house. Dirty water from the food disposer was entering the dishwasher's drain hose and entering, pooling inside the dishwasher. I just disconnected everything after a chlorine clean up. No more dishwasher nor food disposer.
We closed on one of our homes on 12/26. Never again! Christmas was ruined.
I feel your pain - my parents moved us to Massachusetts (4 kids in tow) in December. YIKES!
It will be interesting to see what this turning point means for buyers and sellers going forward.
Imagine paying a million dollars to live in...... New Jersey.
In Tucson home listing prices are dropping by tens of thousands of dollars.
How important is it to get permits when renovating a home?
Must comment about South Florida condo market. There is a glut due to special assessments that are very high. This came about due to the Surfside collapse that caused the Florida Legislature to pass strict inspection laws for buildings over a certain number of floors. My former building had owners paying over eight thousand dollars each in special assessments to bring the roof up to code.
As to the damage in Florida after the hurricane please allow me to clarify. After Milton, there was a great deal of damage on the East Coast due to F3: Tornados, At least five people passed away. It is not accurate or ok to say Milton only affected the West Coast of Florida. Please do your research. Hurricanes are becoming more frequent and powerful and truthfully anyone should think twice before moving here.
Hurricanes have NOT become more frequent, and are NOT more powerful. But the last 50 years has seen FL’s population quadruple. Google is your friend.
I’m surprised more people aren’t selling to pull equity out of their home.
@@RJGa to go where for example? Buy an expensive house with higher interest? Or rent for couple years and waste a whopping $50000 to $60000 while waiting for the market to go down?
They don't have to, Freddie mac backed 2nd mortgages are available as of a few months ago. They can now use that equity to keep this economy from contracting while keeping their low rate first mortgage.
Have to overpay to get into a new home. You can't win
Jen and Jackie you guys are awesome!!
Thank you! Appreciate you watching!!!
Thank you for being here!
They just take way too long to get to the point. 😩
And you can either speed through this if you’re watching on replay or scroll on.
I'm 39yrs old living in NJ and I honestly believe I'll never own a home. To expensive
Wanna do a marriage out of convenience? We can grow wealth together? 😂😂
Probably have to move. I'm in a similar situation and figure I have to move if I ever want to own something.
@@cur244 Live where you can afford to live. This new phenomenon that one should be able to live wherever they want is getting old.
My son in law pays 925.00 a month lot rent in MN
But it’s MN.
Ladies, thank you for your time and for sharing your knowledge with us! I am looking to buy a home next summer. I live in San Diego county CA. Would you please recommend /connect me with that 20% realtor (s) in my area? Preferably in north San Diego county such 😊as Carlsbad ? Thank you again!
Then what we need an agent for specially a selling agent ?
Hi from Oakland CA
Over carpet! Geez
Wage increases are not the answer. That fuels higher prices. You made a statement that is the truth. Homes are priced 100k more than they should be. Why would anyone give up a 2.5 - 4.5% mortgage?! This might sound completely insane but, I think you actually make more on your home sale if you don’t engage in an obscene bidding war . The amount of money you have to put out to sell your home are really huge! Debt is crushing. Dave Ramsey is correct! Nothing to grow!? What does that even mean!? A huge down payment is the best idea ever ….. then invest, after you pay your bills! Debt is always bad !! Being responsible is painful , but hugely rewarding. ! Capitalism is not evil. You and Jen are both capitalist. Period. It’s a Free enterprise system. . You can be mortgage free . You may have to live somewhere that’s not your first choice . Save up and buy the smallest piece of dirt you can build on. Hire a good contractor and build a SMALL home you can live in. The only option that appears to be available is an 800k plus new construction poorly built McMansions . That’s not really the truth. With a little effort it can be done.
Especially if you're young a huge downpayment is a bad idea. People will get many times that investing it especially if under 35. Dave is great for a beginner plan. He's very basic as far as finances.
Sellers are greedy and delusional. That is very true. I bought a new home because the used ones were the same price. That’s insane!
I’m sure when you sell your house you’ll ask far below market value. C’mon man!
@@seanm3226 I just sold. 2 of us were successful and the other 5 sellers are still on the market. I wasn’t greedy and they are
Man I can’t imagine over over 1.8mill
Remember, the last live I managed to catch I said that prices in Toledo had started dropping by $5000 to $10,000.. Now I am getting notices every day on multiple prices dropping. I fear they will all be bought up by the time we make it back to the US in 2026....
Please get to the point. The first 5 minutes were torture. 😩
Prices are dropping or have been listed for weeks … in Michigan 🇺🇸
❤
Jen said there’s 52 states lmfao
you ladies are out of control 🤪
I’m confused as to what “normal” home prices people are waiting for. 2014 prices? 2004 prices? 1994 prices? That fact is we now have normal prices for 2024. This is not difficult, folks.
Stop mentioning Florida everytime there’s something negative about the housing market. I get that you’re anti Florida but keep it to yourself. There are bad areas just as there are in California or New Jersey or wherever but you seem to be very negative about Florida on your channel soon not listening anymore.
the media focuses on florida (probably because its a red state). I don't hear much about NJ real estate. Everyone expects CA to be expensive because a lot of really rich people live there.
I'm not trying to be negative. I'm not saying anything different then what is said in the news. I'm actually sad about what's going on in Florida. No hate towards the sunshine state! Sorry to have offended you.
what's wrong with the truth? FL coastal markets are screwed.
So they aren't supposed to inform us w facts now because you don't like the truth?
@@cnitf Stupid comment of the day. Florida has more coastline than any state in the US. And Florida’s population has increased every year post WW II.