Not really, they're just desperate. 1 life 2 live; rite? Not every1 is cool w being an incel in mom's basement. A lot r female, insisting on family life.
Have you seen car payments lately? It’s the same as a home payment. If you include dealer mark ups, full insurance, gas, it’s more. Before you lost 20% driving off the lot, now it’s like 25-30%. If you try to trade in the dealership offers you blue book value and add in dealership fees to get your car for free in the trade in.
I refuse to pay over msrp on any vehicle or overpay for a used one. I bought my 47.8k msrp 2019 f150 new for 35k at the end of 2019. It still KBBs for more than I paid for it, but is starting to lose value fast. The car market is crumbling faster than the housing market. I won't be selling my f150 anytime soon, so I'm happy to see prices finally falling. I know way too many people that have been delaying vehicle purchases and dumping money into 200k+ mile vehicles to keep them running.
@@rons5319 that's how it's supposed to work, but recent history has showed otherwise. I was saying I'm glad the car market is starting to head back in direction. In my area, 2-3 year old cars were selling at original msrp or higher. New trucks were selling for 10k over msrp. Now, both new and used car prices are falling fast. New trucks are selling at msrp and used car prices are tanking. Trucks will soon be 10k+ under msrp once again. I just hope the used car market gets back to normal after nearly a decade of inflated values. The only reason I bought my first brand new truck in 2019 was that comparable 5 year old used trucks were only 5-7k less with 100k miles. I want to see the return of the affordable 5 year old truck, even if it means my current truck becomes nearly worthless. I won't sell it for at least another 10 years, anyway. I just hate seeing people pay so much for 100k+ mile vehicles. My coworker spent 48k on a 7 year old 150k mile truck that was about 60k brand new. It makes no sense to me.
The regret has everything to do with the price everybody fomo’d into, and very little to do with the condition of said home. The condition of the home is just an excuse for the remorse taking over. Buyers remorse is only going to get worse as we progress through this down turn.
I made my $ by buying and selling condos in NYC. I spent every single Saturday and Sunday looking at Real Estate. I know the market really well, and I never bought into condos that needed work/ with huge carrying costs, etc. It is insane to purchase a house / condo if you don't know the market. If you don't know the market - you don't know what you're paying for.
@@arkzyFn8 I think those requests go to Zillow first, they sell your info to others along with the listing agent. The listing agent's number is usually on the listing. Maybe call them from a pay phone? 🤣
Thankfully my dad and I built my home in 1985-1990. maintenance has been easy and cheap. Although my air conditioner just broke down I was able to fix it with parts on hand.
@@peten8767 Code enforcement knows m all too well. Have had several court battles with them and even almost shot one who was trespassing. That was a 5 police car event over 20 years ago!
It's funny you mentioned new home owners not knowing where the utility shut off valves are. As a former home inspector that was the first thing I listed and showed was the location of the shut off valves and switch/switches at the electrical panel in my reports. It's a very important thing to know in case of emergencies.
I am amazed at how "50's and 60's" these neighborhoods are that Michael wanders through. One car garage with spaced pavers for a drive way. A lawn in name only. Tiny...with $300,000 worth of cars parked in front!
@@jayc4715 if I owned a 500k home I would live in it for a while. You have these people just buying them to make a profit after a year, 2021 is over. Those days aren't coming back. I'm looking to buy in Sarasota in 3 years. My home in VA went up in value only 150k. It didn't go up 400k.
@@BlackBirdieGolf @Black Birdie Golf I hear you. The hyper financialization of homes in the last few years is horrible. It comes down to a bunch of ethically deficient people with the "I'm gonna get mines and screw everyone else" attitude. The flippers are clowns. Looks like you have a couple of them right here in the comment section of this thread. We're also looking to buy in Sarasota. We are lucky enough to have cash and now plan to build rather than buy an existing home. We simply refuse to buy from some douche who wants double or more for a home that he bought 2 months ago and put zero $ into improving the property. Yes it may cost a bit more to build, but we will have the satisfaction of getting exactly what we want and at the same time cutting the flipper clowns out of the loop. I agree, don't buy now. Just bide your time.
Realtor & Truck Driver in Southern California. I can confirm that the overhead maintaining a house is one of the biggest expenses to navigate + save for. Well issues , Septic, Roof leaks, Water heaters, Windows leaking air and not being sealed anymore electrical panels and breakers going. Never under estimate the work needed done to keep up a home! Always ask for termite inspection please 🤠
Retired & recently sold RV because RV life is becoming a money pit. Bought a small but nice one bdrm trailer in a very nice retirement community that has a lot of activities, groups, clubs, recreation for the residents. Trailer was less than $15k & lot rent is $400/month. Can afford to forgo insurance at that price.
Houses are extremely expensive to maintain. After the mortgage, there is property taxes, property insurance, general maintenance and repairs. Then there are the problems of bad neighbors, and if you paid too much for the house it could drop in value.
I was surprised how many of my neighbors in TX didn’t put money aside in escrow to pay for taxes. After year one, taxes came due and it adjusted their mortgage up over $800/month to pay back the taxes they didn’t plan for. Going to put a lot of people out of their homes, lucky now if they can sell before the prices drop too much lower.
Most people long ago lost the sense and the ability to live within their means. I'm retired and would never go back to work - I'm done with that sh*t for good. 45 years of my life is more than enough to have given. Am I rich? Far from it but I survive perfectly fine on my small pension which adequately supports me, my wife and my teenage son. I agree with you, those that are being forced to return to work are largely in the position they're in because they never planned for their future, spent recklessly, didn't save, and basically have no choice. Most of those who might like to claim otherwise on some "survey" are just full of sh*t.
I don't get people either. I've been an irresponsible basket case my whole 53 years, yet my house is paid off and my 2nd home will be this year if my plan comes together. Either there are millions of people out there who are full of 💩, or there's a degree of craziness in the population that I just can't comprehend.
All those reckless spenders, who lost their retirement in the stock market 15 years ago, had to rely on their 401k for retirement like most of the rest of us. Pension plans only exist with government jobs now. It only takes a major crash at the right time, and you can kiss retirement goodbye. The entire system is designed to keep the affluent wealthy and everyone else struggling to enjoy what life has to offer. This is the new American Dream.
Yesterday, I heard about a guy in Tampa who is trying to purchase a new build. The builder's "preferred lender" is charging less interest on a loan with 15% down than 20%. They are protecting themselves with the PMI and people are falling for it. Crazy, stupid times for sure!
Good for you for sharing , that’s a new one even for me who spent 38 years in the mortgage lending side . Hope people don’t fall for it and I have to believe the overall payment can’t be less . Fnma and Freddie have price adjusters as you go up from 80% to 85 , then to 90 and so on . But to your point they see it coming .
We appreciate your time and wisdom teaching us and being transparent you are helping so many avoid huge mistakes in their life for those who listen . Thanks for having a good heart I really honor you. . Keep up the good work . We are all thankful
As a former victim of the last bubble, 2004 I bought a 3/2 in Homestead FL for 200$, by 2008, the value dropped 60 percent. It took me until 2021 to get a fair price, 375k. That if I held off , an easy 500k but no regrets. If I gave in to FOMO in this market, I would be desperate and depressed knowing my home I bought for 500k is now worth 250k
I bought my townhouse in 2015 in West Kendall. Paid 170k. Have 7 years left on my mostgage. My mortgage is 1100 bucks. Where can you find that in Miami for a 3/2?
As a construction worker, I participated, in 1967, in the build of the Guildford House at 9800 W Bay Harbor Drive. It was originally built for rental apartments, later converted to condos. The Bay Harbor Islands neighborhood was mature even then, in the late 1960's. Though many of the structures are not modern, this residential community is more beautiful than ever. It is safe and quiet, and yet close to the shopping in Surfside. The weather and the water look quite appealing in winter. People who can afford to live there should appreciate their good fortune! Best wishes.
I did okay. I paid 335 almost two years ago and the house is worth about 400 at the moment. I bought it thinking it may drop below what I paid possibly at some point because these things happen, but I have a low rate and am not worried about a net worth contest. I renovated the doors, paint, and trim, and the storm paid for new Ac, gutters, and a pool system. It paid for that because I did my own cage repair which saved a ton. The house needs nothing and I’m enjoying using it and I could care less. No flooding, no well water bullshit and no association bullshit I would have had with a condo, I feel very lucky. If you can afford your place and you like it, don’t waste stress being worried about what it’s worth. The upside of it being worth less is lower property tax which is fine if you never planned on flipping it which I didn’t.
I've been watching inspection videos and checking BBB, and lots of issues with new builts.. although, they give you a one year warranty... majoy issues usually dont show until after one year..Its scary.
Yep , I see it all day here in Michigan cheaply built. Cheap materials, cheap windows, cheap ac, cheap flooring, and after about 2 yrs. Good luck with the repairs. That's why I subcontract all of my personal homes. Have built three in my lifetime you don't need a builder's license here in Michigan to build your own home. You put mid-grade materials and you're good to go for 15-20 years not replacing a damn thing that's when you sell home before everything starts wearing and tearing. Then you do it all over again
The Northeast has nice brick homes. It's like the kid's story of the big bad wolf. One pig had a home of straw, one pig had a home of sticks. The pigs ran to the brick house and the wolf couldn't blow it down. The North just needs more sunlight.
Michael, you are spot on with this video…if you can’t afford it, don’t do it! I tried to book a supposedly affordable hotel room for three nights in Aorangi Beach, Alabama, and by the time the fees and taxes were added, what was originally listed as a room for $272.00 a night ballooned to $1,500.00. I hate being ripped off. If this is permanently our new reality, I can see why people feel like they cannot ever stop working. Also, I have never been a fan of doing a reverse mortgage, but I guess if you really understand it snd all that is involved, it might help some people. That is a dicey situation though.
That's exactly why I bought a 2016 Winnebago Adventurer 38t eight months ago. My plan is to fix everything over the next 2 years in preparation of the cost of gas going back down after the DemonRATs are out of power.
retirees going back to work. This is why you should keep your skills current, even after you believe you've achieved financial independence. One never knows and you need the insurance.
Excellent video Michael. My biggest remorse by far is not coming to Sarasota to explore 20 years ago. If I did I would have been able to purchase on the water (most likely Bird Key) for 1/5 of what you can get an old house today. Instead, I purchased land on a lake up north for 70K cash, and as of right now, it is just worth barely 100K if that. Overall no complaints, I have done very well with all my other investments and retired in the beautiful city of Sarasota 2 years ago at 58. I bought into a new development downtown for 700K and today is easily over 1.1 million. And I also paid cash for it so no mortgage. If I can give my two cents to anyone retiring...NO DEBT in anything. Believe me, you will be blown away by how much more affordable any lifestyle you choose to have will be.
🏫 🐜🐜 will insurance companies disqualify any claim because of termites? I would guess they would say that termites have made the building structurally unsound . A loophole ➰
You should look at the Chinese real estate market as a comparator. They didn't really have a reliable stock market to invest in, so ghost real estate became the defacto investment and now there's whole brand new cities that are empty, unfinished, and crumbling.
I sell insurance. Some life insurance companies will not sell certain products to people who have reverse mortgages. It's a sign that they are not financially stable enough. Reverse mortgages are a necessary evil.
I can relate to this. Wanted out of the big city and ended up picking a house in another state's suburbs. Paid more than I should have for a house that involved work (at most i thought, new driveway and some fresh paint), over those that didn't, that were also cheaper but with smaller square footage. Home inspector missed a ton of things, such as holes in the walls the sellers were hiding behind pictures. Washer was leaking up a storm. Roof was leaking in one area once the rain came. Basically got tricked into buying something the inspector failed to do a good job on, and worst of all, I actually hate the house after being in it for over a year. Horrible design and the previous owner's DIY work was so bad, it actually made everything worse. They sold it probably to pass on the troubles to someone else. Just wasn't worth it, not with the cost of getting it back into shape. I'll never trust a home inspector ever again. Lessons learned. That said, its in an area that has high demand and limited supply, so even If I sell a few years from now I have a feeling I'll at least break even. Knock on wood.
I’ve started to wonder whether home inspectors ask sellers for hush money to keep their findings from buyers. Yours is not the first post I read about home inspectors “missing” obvious things.
In Australia our government is now offering reverse mortgages to retirees how freaking crazy is that! Like respect that they are making it so they are not liable for negative equity, but dam! None of us are getting inheritances!
Honestly man, you gotta go harder on these real estate agents, millions people got convinced by their local real estate agents to purchase cause the “supply were running out” to only get trapped into the biggest trap in human history. People are going through stress and homelessness. This is tragic man, we gotta bring awareness to this bull crap, cause of their greed
It's really bad here in Cali. I have real estate friends who are normally honest, but now they are absolutely screwing their buyers and they have to know deep down what they are doing is wrong. What's worse is that many times the client is a friend or family member.
@@AlphaJ369 yeah it’s sad, I see it everywhere in Seattle here too. Using their charm to close on these deals to only screw everybody over. Telling people to buy right before the biggest crash
Lesson I learned from my first home. 100% get your own inspector. Do NOT allow the agent to do it. There could be a little quid pro quo going on between the two. Did my home inspector really miss the fact that there were wires under my carpet in order to create other outlets from the one, properly installed one? You are welcome.
The biggest problem with Condos in Florida is the HOA fees, Special assessments and Property Taxes. Basically, you pay PREMIUM prices for inexpensive services AND If you have a Board of Directors that are spendthrift idiots... you will pay out the nose.
I suppose you could be one of the board members and hire and pay yourself excessive fees and make huge 💰💲💲💲💰 for any kind of maintenance or lawn Care, concentrating on the area around your own personal condo of course
It's a racket. Let's say they charge $2000 for something. In actuality, they use $1000, the other $1000 goes directly to their pockets. Kind of like free money. Asking for documentation won't help, documents, bills etc can be made up.
Me too and so are many many other people. Probably 10s if not hundreds of thousands of people. Believe me, our financial situation is nothing special anymore. Maybe it was many years ago but their is billions on the side lines ready to deploy in the housing market.
To give to the Russian and Chinese invaders? To have an EMP blast take out all the infrastructure and have a worthless place. You better wake up son, and watch you some Alex Jones.
My first home was 70 years old. It was a mistake. It was a long time ago, but I had to spend an extra couple hundred a month keeping it up. I can't imagine how the people who bought way over asking without inspection back in 2020/ 2021 are doing mentally. Because repairs are expensive... People were giving boats away on top of overpaying. They are now stuck forever. Make sure you bring someone who knows what to look for with you when looking.
Hi Michael good points again. Most buyer don't inspect the properties carefully when they see the empty property a few things come to light flooring needs to be replaced , sockets and light switches need work, repainting, and replacing tired Bathrooms set aside $15 to $20,000.
Can you do a segment on seller financing from the seller's perspective? Basically how to do it and what to watch out for? Thanks, enjoy your expertise.
Water damage is the major symptom of poor construction. I'd say that the leading cause is poorly-installed flashing. Bad contractors typically get this wrong. It's one of my major concerns with any building I own.
And if you're getting a house built, you MUST 1. learn best construction practices BEFORE you buy, 2 Agree on construction practices with your contractor BEFORE you sign with your contractor. 3. Visit at least a couple times a week to make sure your contractor is following best practices.
I live in DuPage Illinois. I’ve been in my house for almost 20 years. It is a starter home that was built in 1969. We bought it in October 2003. I have no buyers remorse. It’s an affordable home for the area. I’m sure it helps I’ve been in the house for so long. I wish we had a governor like DeSantis instead of Humpty Dumpty. Great video.
I am from Dupage County. I moved away in 2017. Dupage county is 27th most expensive county in the nation . I now live near Disney . A lot of Chicago people moved to Orlando
@@magicparkmemories. My wife and I talk about moving to a state and area that holds more of our values. The biggest problem is how rooted we are to this area with family and careers.
@@jojojojojojojo7013 I completely understand about family. I have no parents. They are buried on the south side. I have no spouse. I do not miss the cold air. A lot of Chicago people here.
I bought my house in 2021 and bought one that was def under value simply because it smelled bad and needed a bit of paint and carpeting. I think in total I spent 15k and now it's valued 70-80k more than when I bought it. I do wish I would have bought a multi family house that I looked at back then but I'm still happy with my purchase.
Retirees who go back to work for money are doing not necessarily for themselves but to help their mature children who are broke. I would say people answered as personal reason are most likely going back to work for this reason.
My biggest regret after buying southern California 3-years ago 2020 Getting a Renter out, Eviction. Is crazy in California. The legal system has hijacked private property.
Every time I see these videos, I consider myself blessed for selling in November 2021. Apartment living is good for me after fifteen years of mortgage.
Hi Mike. With inflation out of control, would that be enough to get you to move back to Illinois? FL used to be a cheap state to be in. Have you been noticing more and more people are getting priced out of FL and are economically forced to move back to where they came from? It seems the money situation determines where we live. Just a fact of life.
north east prices didnt triple or even double like in some areas is why they dont regret their purchase. a $600k house maybe went for $780k. a $400k house went for $550k, not like vegas and miami where a $450k house is going for $1.4M.
I'm totally ecstatic with my 840 square-foot condo that I purchased in 2020 just before covid hit.I paid 100 k with a large down and purchased half of what I could have afforded. It's all paid off. I feel horrible that people today are buying my unit size around 200k and up. And they fly off the shelf over asking price. I think people are genuinely afraid of not getting any sort of housing ownership. An overpriced condo payment you can afford is better than no housing ownership at all in Tampa. I would be fully priced out if I had to try to purchase my condo today. I won't sell it until I have the keys and have moved into a new place.
THERE ARE TWO TYPES OF PEOPLE....RENTERS AND OWNERS...AKA WORKERS AND HUSTLERS....the workers don't hustle and the hustlers don't work...Ok, it was in a movie but it makes sense!!
Hmmm 🤔 looks like someone needs to do some digging on price fixing in the real estate market. Price fixing in collaboration with others is a federal crime.
It would be interesting to know how buyer's remorse is depending on price ranges of the properties - are people who bought at under the median price more or less remorseful than those who bought pricier property? - but I guess there isn't that kind of granular data. Keep up the good work.
Now - which is newer - on a reverse mortgage they're making you pay PMI again (mortgage insurance cost for having low equity) and if you don't keep up the place they can foreclose on it. They only give you a tiny tiny percentage of the home value. And the mortgage rates is high and the costs around it are exceptionally high. In concept it's such a great idea. In reality ...not so much. Particularly the mortgage insurance and low low percentage they are willing to pay out.
1:16 It REALLY annoys me how people park their vehicles like this! It really sizzles my circuits. In this case I'd park normally right next to them, in the spot to the left, so they'd be unable to open the driver's side door! 🚗
I noticed After the pandemic lockdown people are more creative and they navigate their way around to make extra money unlike before, my friend put in an offer for her first house two weeks ago and the seller had 41 offers and someone offered all cash! I don’t know where people are getting all this money lol
@@Ytgmann331 CA is tanking every month-- data is well known... Must be a bunch of English majors buying homes...ownership cost is way over renting... That's like burning money
I'm glad I never regretted purchasing this house. It's just too big now for me and a little white dog. Time to downsize, so a family can move into this wonderful home. Ideally I will do this without another mortgage. I think it's the pressure of a hefty mortgage payment that causes people to have buyer's remorse.
I'm in the same boat. And I like my neighborhood, plus I don't want the hassle of downsizing and moving. But I can't keep up the yardwork and maintenance much longer, either.
One regret is when taxes are assessed. I just purchased a home in NC and have NO regret in buying this home. Yes, it cost more but as seniors, this is our last home. I am full time retired and looking at another home to buy for our daughter who lives in an old trailer that is rusted and falling apart for $600 a month. Our home will be paid off in 5 years.
Entering retirement requires planning and knowledge just like any other major event or expense in life. I retired in 2020 and never looked back because I paid my house off and got out of all other debt. Having pensions doesn't hurt either.
Not necessarily a bad or negative thing for a retiree to go back to work. I think all the reasons apply, could be more money, more social life, more purpose to life, too bored.
Don’t underestimate jobs ability to provide a sense of belonging. My grandma worked for free or for Pennies pretty much until she passed away at 90 it was a way to socialize and feel needed. Ideally imo you have a big family and lots of friends to keep you busy and entertained in retirement but that’s not the case for everyone. Just lounging and thinking about your next meal gets real old real quick.
Besides retired persons going back to work because they need the money; keep in mind you have an estimated 7 million abled bodied men (NLIFS) who are NOT even looking for a job AT ALL! and yet there are 10.7 millions job openings. Now lets make it clear that a simple citation of stats does not explain anything about the whys of these stats but consider that if young men, probably women too, are not working why in the heck would I retire from a software developer position if they can't replace me with a younger person? In days gone by people retired because their health gave out. In software development the only thing I have to worry about is my mind going. I don't need to keep lifting heavy loads to do IT work! And I can work ANYWHERE because I can work FROM ANYWHERE!
btw Michael: I shared with you that I was looking at property just North of Gainesville FL. I am almost there (cross fingers) closing soon here in N.M. and I am in the middle of a "downsizing auction" similar to an estate auction. You can't imagine the number of boomers who are going through this now. Downsizing their belongings to move I wonder how many houses being bought during this downswing (keeping the numbers up) are actually boomers downsizing and moving near grandkids or retirement homes and not young families starting out?
you should get roofer to look at property.. one of the biggest items. inspectors don't usually go on roofs ... just a look only ...worthwhile to study your subject before you dive in.
HOMEOWNERS Insurance NIGHTMARE Just Got WORSE ruclips.net/video/vvJZUMMwvTU/видео.html
I figure alot of your viewers are looking to buy so this style video should probably be a regular appearance in your part of Florida
Michael, I posed a question below, I am very currious on your opinion/analysis on it. George: Collins, Miami Beach.
It seriously feels like people spend more time contemplating whether they can afford to buy a pizza than buying a house.
Lol
So true.
Lolol
Just like the stock market. Everybody fomo’s in as it pumps to the top, than can’t understand why they losing all their money as it dumps.
Not really, they're just desperate. 1 life 2 live; rite? Not every1 is cool w being an incel in mom's basement. A lot r female, insisting on family life.
I don't even want to regret buying a car that's overpriced I can't imagine a home
Have you seen car payments lately? It’s the same as a home payment. If you include dealer mark ups, full insurance, gas, it’s more. Before you lost 20% driving off the lot, now it’s like 25-30%. If you try to trade in the dealership offers you blue book value and add in dealership fees to get your car for free in the trade in.
@@jaeyang9540 only people with no patience are affected by things like this there's a saying if you don't want to get hammered don't be the nail
I refuse to pay over msrp on any vehicle or overpay for a used one. I bought my 47.8k msrp 2019 f150 new for 35k at the end of 2019. It still KBBs for more than I paid for it, but is starting to lose value fast. The car market is crumbling faster than the housing market.
I won't be selling my f150 anytime soon, so I'm happy to see prices finally falling. I know way too many people that have been delaying vehicle purchases and dumping money into 200k+ mile vehicles to keep them running.
@@Brandon_Nelson92 All vehicles depreciate quickly and will be worth zero someday.
@@rons5319 that's how it's supposed to work, but recent history has showed otherwise. I was saying I'm glad the car market is starting to head back in direction. In my area, 2-3 year old cars were selling at original msrp or higher. New trucks were selling for 10k over msrp. Now, both new and used car prices are falling fast. New trucks are selling at msrp and used car prices are tanking. Trucks will soon be 10k+ under msrp once again. I just hope the used car market gets back to normal after nearly a decade of inflated values.
The only reason I bought my first brand new truck in 2019 was that comparable 5 year old used trucks were only 5-7k less with 100k miles. I want to see the return of the affordable 5 year old truck, even if it means my current truck becomes nearly worthless. I won't sell it for at least another 10 years, anyway. I just hate seeing people pay so much for 100k+ mile vehicles. My coworker spent 48k on a 7 year old 150k mile truck that was about 60k brand new. It makes no sense to me.
The regret has everything to do with the price everybody fomo’d into, and very little to do with the condition of said home. The condition of the home is just an excuse for the remorse taking over.
Buyers remorse is only going to get worse as we progress through this down turn.
I made my $ by buying and selling condos in NYC. I spent every single Saturday and Sunday looking at Real Estate. I know the market really well, and I never bought into condos that needed work/ with huge carrying costs, etc. It is insane to purchase a house / condo if you don't know the market. If you don't know the market - you don't know what you're paying for.
It would be funny if Zillow allowed users to leave comments on listings. Sellers would get roasted so hard.
I troll them by sending in interest forms and not provide my contact info. I tell they are crazy for pricing that high and they are greedy
@@arkzyFn8 I think those requests go to Zillow first, they sell your info to others along with the listing agent. The listing agent's number is usually on the listing. Maybe call them from a pay phone? 🤣
@@craigmcpherson1455 hahah jokes on me then! Thankfully I do not leave my info
😁
Mortgages are a scam.
With Condos you have to include the HOA, not just the price.
Thankfully my dad and I built my home in 1985-1990. maintenance has been easy and cheap. Although my air conditioner just broke down I was able to fix it with parts on hand.
@@peten8767 Code enforcement knows m all too well. Have had several court battles with them and even almost shot one who was trespassing. That was a 5 police car event over 20 years ago!
I was able to do major roof repairs with a roll of duct tape.
I bought a overpriced house in 2000.. it worked out in the end but it SUCKED being upside down 10 years after I bought it.. that sucked.
I did the same thing during the 1980s real estate bubble. I bought in 1987 and was stuck there for 15 years. I didn't even like the place.
It's funny you mentioned new home owners not knowing where the utility shut off valves are. As a former home inspector that was the first thing I listed and showed was the location of the shut off valves and switch/switches at the electrical panel in my reports. It's a very important thing to know in case of emergencies.
I bought a fixer bungalow at 19yrs old in 83. Boy oh boy if my dad had not been around to show and teach me it would have been a nightmare.
I am amazed at how "50's and 60's" these neighborhoods are that Michael wanders through. One car garage with spaced pavers for a drive way. A lawn in name only. Tiny...with $300,000 worth of cars parked in front!
Gotta keep up the flex
That's Miami buddy u don't know the Players without a Score card !! 1986 HaHa😁😁😁
Shhhh let them blow their money.
People are so damn greedy bro! These are all over Florida. Bought a home for 500k home 1.5 years ago and trying to sell it for 900k. Rediculous
So if you owned that same 500k you would sell it cheaper?
@@jayc4715 if I owned a 500k home I would live in it for a while. You have these people just buying them to make a profit after a year, 2021 is over. Those days aren't coming back. I'm looking to buy in Sarasota in 3 years. My home in VA went up in value only 150k. It didn't go up 400k.
@@BlackBirdieGolf Cry harder
@@BlackBirdieGolf @Black Birdie Golf I hear you. The hyper financialization of homes in the last few years is horrible. It comes down to a bunch of ethically deficient people with the "I'm gonna get mines and screw everyone else" attitude. The flippers are clowns. Looks like you have a couple of them right here in the comment section of this thread.
We're also looking to buy in Sarasota. We are lucky enough to have cash and now plan to build rather than buy an existing home. We simply refuse to buy from some douche who wants double or more for a home that he bought 2 months ago and put zero $ into improving the property. Yes it may cost a bit more to build, but we will have the satisfaction of getting exactly what we want and at the same time cutting the flipper clowns out of the loop. I agree, don't buy now. Just bide your time.
Realtor & Truck Driver in Southern California. I can confirm that the overhead maintaining a house is one of the biggest expenses to navigate + save for. Well issues , Septic, Roof leaks, Water heaters, Windows leaking air and not being sealed anymore electrical panels and breakers going. Never under estimate the work needed done to keep up a home! Always ask for termite inspection please 🤠
Absolutely! i appreciate you backing me up!
There are a lot of stats on mental health among retirees. Having social interaction is critical and loneliness is a killer.
Retired & recently sold RV because RV life is becoming a money pit. Bought a small but nice one bdrm trailer in a very nice retirement community that has a lot of activities, groups, clubs, recreation for the residents. Trailer was less than $15k & lot rent is $400/month. Can afford to forgo insurance at that price.
It would be helpful to know what city and state your park is located in? Thank you!
That sounds like living cheap.nothing wrong with it.
What city and state please?
You can find places like this in rural parts of AZ.
Houses are extremely expensive to maintain. After the mortgage, there is property taxes, property insurance, general maintenance and repairs. Then there are the problems of bad neighbors, and if you paid too much for the house it could drop in value.
It's never ending.
I was surprised how many of my neighbors in TX didn’t put money aside in escrow to pay for taxes. After year one, taxes came due and it adjusted their mortgage up over $800/month to pay back the taxes they didn’t plan for. Going to put a lot of people out of their homes, lucky now if they can sell before the prices drop too much lower.
Most people long ago lost the sense and the ability to live within their means.
I'm retired and would never go back to work - I'm done with that sh*t for good. 45 years of my life is more than enough to have given. Am I rich? Far from it but I survive perfectly fine on my small pension which adequately supports me, my wife and my teenage son.
I agree with you, those that are being forced to return to work are largely in the position they're in because they never planned for their future, spent recklessly, didn't save, and basically have no choice. Most of those who might like to claim otherwise on some "survey" are just full of sh*t.
Live in one's means how can you trample on my dreams (sarcasm)? Sacrifice is a dirty word, less and less adults in the room.
Let's hope nothing changes for the worse for you something perhaps you didn't plan on
I don't get people either. I've been an irresponsible basket case my whole 53 years, yet my house is paid off and my 2nd home will be this year if my plan comes together. Either there are millions of people out there who are full of 💩, or there's a degree of craziness in the population that I just can't comprehend.
All those reckless spenders, who lost their retirement in the stock market 15 years ago, had to rely on their 401k for retirement like most of the rest of us. Pension plans only exist with government jobs now. It only takes a major crash at the right time, and you can kiss retirement goodbye. The entire system is designed to keep the affluent wealthy and everyone else struggling to enjoy what life has to offer. This is the new American Dream.
@@WillieTheWino we need the tax base buy a 3rd home too
Yesterday, I heard about a guy in Tampa who is trying to purchase a new build. The builder's "preferred lender" is charging less interest on a loan with 15% down than 20%. They are protecting themselves with the PMI and people are falling for it. Crazy, stupid times for sure!
Good for you for sharing , that’s a new one even for me who spent 38 years in the mortgage lending side . Hope people don’t fall for it and I have to believe the overall payment can’t be less . Fnma and Freddie have price adjusters as you go up from 80% to 85 , then to 90 and so on . But to your point they see it coming .
Great information.
You always bring us the best updates. Thank you Michael.
Was feeling down today about the housing market. Needed to hear this. Thanks Michael 🐊 😎 ☀️
We appreciate your time and wisdom teaching us and being transparent you are helping so many avoid huge mistakes in their life for those who listen . Thanks for having a good heart I really honor you. . Keep up the good work . We are all thankful
Yes!
As a former victim of the last bubble, 2004 I bought a 3/2 in Homestead FL for 200$, by 2008, the value dropped 60 percent. It took me until 2021 to get a fair price, 375k. That if I held off , an easy 500k but no regrets. If I gave in to FOMO in this market, I would be desperate and depressed knowing my home I bought for 500k is now worth 250k
I bought my townhouse in 2015 in West Kendall. Paid 170k. Have 7 years left on my mostgage. My mortgage is 1100 bucks. Where can you find that in Miami for a 3/2?
@@LynxStarAuto Hehe, wait 9 months, 1100 will seem high
As a construction worker, I participated, in 1967, in the build of the Guildford House at 9800 W Bay Harbor Drive. It was originally built for rental apartments, later converted to condos. The Bay Harbor Islands neighborhood was mature even then, in the late 1960's. Though many of the structures are not modern, this residential community is more beautiful than ever. It is safe and quiet, and yet close to the shopping in Surfside. The weather and the water look quite appealing in winter. People who can afford to live there should appreciate their good fortune! Best wishes.
This just proves that most people are financially illiterate. They don't calculate with the upkeep and taxes.
I did okay. I paid 335 almost two years ago and the house is worth about 400 at the moment. I bought it thinking it may drop below what I paid possibly at some point because these things happen, but I have a low rate and am not worried about a net worth contest. I renovated the doors, paint, and trim, and the storm paid for new Ac, gutters, and a pool system. It paid for that because I did my own cage repair which saved a ton. The house needs nothing and I’m enjoying using it and I could care less. No flooding, no well water bullshit and no association bullshit I would have had with a condo, I feel very lucky. If you can afford your place and you like it, don’t waste stress being worried about what it’s worth. The upside of it being worth less is lower property tax which is fine if you never planned on flipping it which I didn’t.
That is why I love Michaels videos. He covers so many different subjects it’s amazing. Can’t wait for the next video.
I've been watching inspection videos and checking BBB, and lots of issues with new builts.. although, they give you a one year warranty... majoy issues usually dont show until after one year..Its scary.
Yep , I see it all day here in Michigan cheaply built. Cheap materials, cheap windows, cheap ac, cheap flooring, and after about 2 yrs. Good luck with the repairs. That's why I subcontract all of my personal homes. Have built three in my lifetime you don't need a builder's license here in Michigan to build your own home. You put mid-grade materials and you're good to go for 15-20 years not replacing a damn thing that's when you sell home before everything starts wearing and tearing. Then you do it all over again
The Northeast has nice brick homes. It's like the kid's story of the big bad wolf. One pig had a home of straw, one pig had a home of sticks. The pigs ran to the brick house and the wolf couldn't blow it down. The North just needs more sunlight.
We also have attics and basements.
We also have a lot of fresh water
Michael, you are spot on with this video…if you can’t afford it, don’t do it! I tried to book a supposedly affordable hotel room for three nights in Aorangi Beach, Alabama, and by the time the fees and taxes were added, what was originally listed as a room for $272.00 a night ballooned to $1,500.00. I hate being ripped off. If this is permanently our new reality, I can see why people feel like they cannot ever stop working. Also, I have never been a fan of doing a reverse mortgage, but I guess if you really understand it snd all that is involved, it might help some people. That is a dicey situation though.
That's exactly why I bought a 2016 Winnebago Adventurer 38t eight months ago.
My plan is to fix everything over the next 2 years in preparation of the cost of gas going back down after the DemonRATs are out of power.
@@RealCptHammonds My stepsister and her husband (retired military) are full time RV'ers. They love it!
retirees going back to work. This is why you should keep your skills current, even after you believe you've achieved financial independence. One never knows and you need the insurance.
Excellent video Michael. My biggest remorse by far is not coming to Sarasota to explore 20 years ago. If I did I would have been able to purchase on the water (most likely Bird Key) for 1/5 of what you can get an old house today. Instead, I purchased land on a lake up north for 70K cash, and as of right now, it is just worth barely 100K if that. Overall no complaints, I have done very well with all my other investments and retired in the beautiful city of Sarasota 2 years ago at 58. I bought into a new development downtown for 700K and today is easily over 1.1 million. And I also paid cash for it so no mortgage. If I can give my two cents to anyone retiring...NO DEBT in anything. Believe me, you will be blown away by how much more affordable any lifestyle you choose to have will be.
Those Midwesterner’s who have buyers remorse must have purchased a home in Illinois😂😂
All The new homes I've seen with water damage were caused by drywall screws hitting the PVC plumbing.
I’m doing my laundry and I listen to this and I feel like I’m strolling outdoors as well. Thanks.
🏫 🐜🐜 will insurance companies disqualify any claim because of termites? I would guess they would say that termites have made the building structurally unsound . A loophole ➰
You should look at the Chinese real estate market as a comparator. They didn't really have a reliable stock market to invest in, so ghost real estate became the defacto investment and now there's whole brand new cities that are empty, unfinished, and crumbling.
I sell insurance. Some life insurance companies will not sell certain products to people who have reverse mortgages. It's a sign that they are not financially stable enough. Reverse mortgages are a necessary evil.
I can relate to this. Wanted out of the big city and ended up picking a house in another state's suburbs. Paid more than I should have for a house that involved work (at most i thought, new driveway and some fresh paint), over those that didn't, that were also cheaper but with smaller square footage. Home inspector missed a ton of things, such as holes in the walls the sellers were hiding behind pictures. Washer was leaking up a storm. Roof was leaking in one area once the rain came. Basically got tricked into buying something the inspector failed to do a good job on, and worst of all, I actually hate the house after being in it for over a year. Horrible design and the previous owner's DIY work was so bad, it actually made everything worse. They sold it probably to pass on the troubles to someone else.
Just wasn't worth it, not with the cost of getting it back into shape. I'll never trust a home inspector ever again. Lessons learned. That said, its in an area that has high demand and limited supply, so even If I sell a few years from now I have a feeling I'll at least break even. Knock on wood.
I’ve started to wonder whether home inspectors ask sellers for hush money to keep their findings from buyers. Yours is not the first post I read about home inspectors “missing” obvious things.
Don’t trust inspectors at all!! I remember They told my my roof was good for another 7years and it started leaking the 1st month I moved in.
home inspections are like 1-3 hrs max. What did you think they were going to find on a sunny day?
Can you sue the home inspector?
@@daywzy I see your point but their is so much more, they are inspectors for a reason they can’t tell people wrong information if they aren’t sure
You mean buyers who paid $200k over asking and waived inspections now have regrets about their purchase?
Man, who could've predicted THAT?
"Promise everything deliver nothing".
Napolean
Wow, the grandmother's they didn't kill are working. Seeing that here in Ontario. I will be there tooo
The regret closet is full for many...
In Australia our government is now offering reverse mortgages to retirees how freaking crazy is that! Like respect that they are making it so they are not liable for negative equity, but dam! None of us are getting inheritances!
Honestly man, you gotta go harder on these real estate agents, millions people got convinced by their local real estate agents to purchase cause the “supply were running out” to only get trapped into the biggest trap in human history. People are going through stress and homelessness. This is tragic man, we gotta bring awareness to this bull crap, cause of their greed
It's really bad here in Cali. I have real estate friends who are normally honest, but now they are absolutely screwing their buyers and they have to know deep down what they are doing is wrong. What's worse is that many times the client is a friend or family member.
@@AlphaJ369 yeah it’s sad, I see it everywhere in Seattle here too. Using their charm to close on these deals to only screw everybody over. Telling people to buy right before the biggest crash
Lesson I learned from my first home. 100% get your own inspector. Do NOT allow the agent to do it. There could be a little quid pro quo going on between the two. Did my home inspector really miss the fact that there were wires under my carpet in order to create other outlets from the one, properly installed one? You are welcome.
Its weird people don't calculate how much they can afford what their bottom line is.
Agreed , people just can’t live within their means and it usually ends in hardship
they aren't prepared to move away from the area too
@@tphelan86 Here's a saying close to yours.......
*Live within or below your means, just NOT above your means*
The biggest problem with Condos in Florida is the HOA fees, Special assessments and Property Taxes. Basically, you pay PREMIUM prices for inexpensive services AND If you have a Board of Directors that are spendthrift idiots... you will pay out the nose.
I suppose you could be one of the board members and hire and pay yourself excessive fees and make huge 💰💲💲💲💰 for any kind of maintenance or lawn Care, concentrating on the area around your own personal condo of course
It's a racket. Let's say they charge $2000 for something. In actuality, they use $1000, the other $1000 goes directly to their pockets. Kind of like free money. Asking for documentation won't help, documents, bills etc can be made up.
@@wildflorida8007 need to hire good auditors
I’m just stacking benjamines right now. One after another 🤑🤑🤑. My credit score is above 800 , so I’m locked and loaded ready to go and buy.
Me too and so are many many other people. Probably 10s if not hundreds of thousands of people. Believe me, our financial situation is nothing special anymore. Maybe it was many years ago but their is billions on the side lines ready to deploy in the housing market.
To give to the Russian and Chinese invaders? To have an EMP blast take out all the infrastructure and have a worthless place. You better wake up son, and watch you some Alex Jones.
My first home was 70 years old. It was a mistake. It was a long time ago, but I had to spend an extra couple hundred a month keeping it up.
I can't imagine how the people who bought way over asking without inspection back in 2020/ 2021 are doing mentally. Because repairs are expensive...
People were giving boats away on top of overpaying.
They are now stuck forever.
Make sure you bring someone who knows what to look for with you when looking.
you could always just walk away
Northeast...NY, Boston,Philadelphia, mountain hiking, rivers, beaches, city, nightlife, Casinos.....that's why
you forgot to mention water, lots if fresh drinking water unlike the west coast
Owning a condo/house is a lot! You're responsible for everything! Still better than renting however!
Let's see if the manufactured home buyers feel the same when it comes time to resell.
Michael, would you consider doing a video about what to look for when considering purchasing a flipped home? Thank you for this one!
whoops...just found the video you did on this a month ago! Thanks Michael!
Good to have an engineer check out the house after the inspection. Lots of people were waiving inspections and now they are 😢
Hi Michael good points again. Most buyer don't inspect the properties carefully when they see the empty property a few things come to light flooring needs to be replaced , sockets and light switches need work, repainting, and replacing tired Bathrooms set aside $15 to $20,000.
Or do it yourself and save $10k plus..
Appreciate you talking about somewhat affordable prices vs million dollar properties 💯🥂
Built my own house one paycheck at a time. Started 8 years ago. Been living in it for the last 6 years. Almost done. No mortgage !!!
You are very right! That's where I am too. Trying to get back on the workforce.
@ 8:35 you have no idea how much I need to see and hear that. Thanks
Can you do a segment on seller financing from the seller's perspective? Basically how to do it and what to watch out for? Thanks, enjoy your expertise.
Water damage is the major symptom of poor construction. I'd say that the leading cause is poorly-installed flashing. Bad contractors typically get this wrong. It's one of my major concerns with any building I own.
The overly complicated roofs that newer houses seem to always have give more opportunities for leaks.
And if you're getting a house built, you MUST 1. learn best construction practices BEFORE you buy, 2 Agree on construction practices with your contractor BEFORE you sign with your contractor. 3. Visit at least a couple times a week to make sure your contractor is following best practices.
I live in DuPage Illinois. I’ve been in my house for almost 20 years. It is a starter home that was built in 1969. We bought it in October 2003. I have no buyers remorse. It’s an affordable home for the area. I’m sure it helps I’ve been in the house for so long. I wish we had a governor like DeSantis instead of Humpty Dumpty. Great video.
I am from Dupage County. I moved away in 2017. Dupage county is 27th most expensive county in the nation . I now live near Disney . A lot of Chicago people moved to Orlando
@@magicparkmemories. My wife and I talk about moving to a state and area that holds more of our values. The biggest problem is how rooted we are to this area with family and careers.
@@jojojojojojojo7013 I completely understand about family. I have no parents. They are buried on the south side. I have no spouse. I do not miss the cold air. A lot of Chicago people here.
Did u get the 65 prop tax discount I hear 15% and u can still get 2021 !!! 🤑🤑🤑🤑
The price is only half the problem. Then you gotta throw the dam HOA fees on top.
You’re awesome at this. Keep same format.
I bought my house in 2021 and bought one that was def under value simply because it smelled bad and needed a bit of paint and carpeting. I think in total I spent 15k and now it's valued 70-80k more than when I bought it. I do wish I would have bought a multi family house that I looked at back then but I'm still happy with my purchase.
yup. all about money. truth!
Retirees who go back to work for money are doing not necessarily for themselves but to help their mature children who are broke. I would say people answered as personal reason are most likely going back to work for this reason.
Great video iam in fort Myers r v park price going crazy
My biggest regret after buying southern California 3-years ago 2020
Getting a Renter out, Eviction.
Is crazy in California.
The legal system has hijacked private property.
Every time I see these videos, I consider myself blessed for selling in November 2021.
Apartment living is good for me after fifteen years of mortgage.
Thanks so much for focusing on the condo market.
All of a sudden, everyone is a "house flipper" and a "real estate investor"
What happens to the majority? They get rekt!
I had a friend tell me when cab drivers are giving you financial advice, your screwed.
Its called greed
People are stupid, you don't have to buy anything. You have options always. If People would stick together you wouldn't pay these prices.
Hi Mike. With inflation out of control, would that be enough to get you to move back to Illinois? FL used to be a cheap state to be in. Have you been noticing more and more people are getting priced out of FL and are economically forced to move back to where they came from? It seems the money situation determines where we live. Just a fact of life.
Fingers crossed for the biggest housing crash in American history
It's inevitable. Most likely accompanied by bank bail ins and wiped out consumers
That will be in the highest interest of everyone, and especially young people.
Yes...keep renting
Biggest crash does not disassociate..giant mistake..
Well, that certainly made me APPRECIATE the "fast forward" button.
Michael, you always are the voice of reason.
north east prices didnt triple or even double like in some areas is why they dont regret their purchase. a $600k house maybe went for $780k. a $400k house went for $550k, not like vegas and miami where a $450k house is going for $1.4M.
I'm totally ecstatic with my 840 square-foot condo that I purchased in 2020 just before covid hit.I paid 100 k with a large down and purchased half of what I could have afforded. It's all paid off.
I feel horrible that people today are buying my unit size around 200k and up. And they fly off the shelf over asking price. I think people are genuinely afraid of not getting any sort of housing ownership. An overpriced condo payment you can afford is better than no housing ownership at all in Tampa. I would be fully priced out if I had to try to purchase my condo today. I won't sell it until I have the keys and have moved into a new place.
Rental prices are way up in that area. My company had 2 employees quit because they couldnt afford to rent and live in N Tampa/ Wesley Chapel area.
840sq ft is very small 🫤
THERE ARE TWO TYPES OF PEOPLE....RENTERS AND OWNERS...AKA WORKERS AND HUSTLERS....the workers don't hustle and the hustlers don't work...Ok, it was in a movie but it makes sense!!
Hmmm 🤔 looks like someone needs to do some digging on price fixing in the real estate market. Price fixing in collaboration with others is a federal crime.
Thanks! Very interesting content. I feel that you can say things that real estate agents or bankers can’t!
It would be interesting to know how buyer's remorse is depending on price ranges of the properties - are people who bought at under the median price more or less remorseful than those who bought pricier property? - but I guess there isn't that kind of granular data.
Keep up the good work.
I haven't come across that granular of data so far but if anything comes up, I'll be sure to mention it
Thank you Michael, your videos are extremely interesting!
You said it . . . Nothing gets any cheaper.
Now - which is newer - on a reverse mortgage they're making you pay PMI again (mortgage insurance cost for having low equity) and if you don't keep up the place they can foreclose on it. They only give you a tiny tiny percentage of the home value. And the mortgage rates is high and the costs around it are exceptionally high. In concept it's such a great idea. In reality ...not so much. Particularly the mortgage insurance and low low percentage they are willing to pay out.
1:16 It REALLY annoys me how people park their vehicles like this! It really sizzles my circuits. In this case I'd park normally right next to them, in the spot to the left, so they'd be unable to open the driver's side door! 🚗
Getting too greedy can burn you🔥🔥
Greed works both ways. Over charging in price and waiting for a crash.
I noticed After the pandemic lockdown people are more creative and they navigate their way around to make extra money unlike before, my friend put in an offer for her first house two weeks ago and the seller had 41 offers and someone offered all cash! I don’t know where people are getting all this money lol
41 offers lmao.... Which city?
@@danman1287 Carson, California
@@Ytgmann331 CA is tanking every month-- data is well known... Must be a bunch of English majors buying homes...ownership cost is way over renting... That's like burning money
Anyone can buy a shitty house in the hood with cash
@@kyleb1984 In your "hood" maybe
I'm glad I never regretted purchasing this house. It's just too big now for me and a little white dog. Time to downsize, so a family can move into this wonderful home. Ideally I will do this without another mortgage. I think it's the pressure of a hefty mortgage payment that causes people to have buyer's remorse.
I'm in the same boat. And I like my neighborhood, plus I don't want the hassle of downsizing and moving. But I can't keep up the yardwork and maintenance much longer, either.
It's not because they overpaid for the home n prices r falling? Lmao.. clueless. U regret it too...
One regret is when taxes are assessed. I just purchased a home in NC and have NO regret in buying this home. Yes, it cost more but as seniors, this is our last home. I am full time retired and looking at another home to buy for our daughter who lives in an old trailer that is rusted and falling apart for $600 a month. Our home will be paid off in 5 years.
Entering retirement requires planning and knowledge just like any other major event or expense in life. I retired in 2020 and never looked back because I paid my house off and got out of all other debt. Having pensions doesn't hurt either.
Not necessarily a bad or negative thing for a retiree to go back to work. I think all the reasons apply, could be more money, more social life, more purpose to life, too bored.
Don’t underestimate jobs ability to provide a sense of belonging. My grandma worked for free or for Pennies pretty much until she passed away at 90 it was a way to socialize and feel needed. Ideally imo you have a big family and lots of friends to keep you busy and entertained in retirement but that’s not the case for everyone. Just lounging and thinking about your next meal gets real old real quick.
My pops used to say.its a good day when you open your eyes in the morning and take a poop.
Thanks for the information on the reverse mortgage as well as your other items still not in favor of getting into debt
Why do real estate agents accept sellers who expect an unreasonable price?
$$
Because they want the listing and assume that they will talk the seller down eventually. Michael mentioned this in a previous video.
Because realtors are scum
Besides retired persons going back to work because they need the money; keep in mind you have an estimated 7 million abled bodied men (NLIFS) who are NOT even looking for a job AT ALL! and yet there are 10.7 millions job openings. Now lets make it clear that a simple citation of stats does not explain anything about the whys of these stats but consider that if young men, probably women too, are not working why in the heck would I retire from a software developer position if they can't replace me with a younger person? In days gone by people retired because their health gave out. In software development the only thing I have to worry about is my mind going. I don't need to keep lifting heavy loads to do IT work! And I can work ANYWHERE because I can work FROM ANYWHERE!
btw Michael: I shared with you that I was looking at property just North of Gainesville FL. I am almost there (cross fingers) closing soon here in N.M. and I am in the middle of a "downsizing auction" similar to an estate auction. You can't imagine the number of boomers who are going through this now. Downsizing their belongings to move I wonder how many houses being bought during this downswing (keeping the numbers up) are actually boomers downsizing and moving near grandkids or retirement homes and not young families starting out?
Those retirement employment numbers are mind boggling. I’m sure I’ll work when I retire. I’m self employed so it’s a little different
Thanks for doing the reverse mortgage thing Michael ill be 62 in 8 months
THANKS AGAIN MICHAEL ❤
you should get roofer to look at property.. one of the biggest items. inspectors don't usually go on roofs ... just a look only ...worthwhile to study your subject before you dive in.