If rates drop to 5.5%-5.75%, that will be enough to entice me to sell my house which I bought as new construction in 2020 as a first time home buyer. The amount of appreciation I have been fortunate to experience the past few years is more than enough to offset the higher interest rate.
@@Baebon6259My rate is 2.5% and when I do sell, I plan to put 50% down payment a much higher down payment than when bought. Using the proceeds from the sale. My calculations will put my new mortgage at even lower amount than my first home.
Invetory doubled in my area feom 2023. There is no lowering of interest rates to bring buyers back. Institutional investors are no where to be found and wont be any time soon. Period. I was there in 2009 to scoop up opportunities and this is playing the same but in a different way but untimately will lead to profit taking.
Even if mortgage is low or going low in the long run you still paying more and more every year. In 2022 I got my home at 3.5 % start was $2,136 now because tax and insurance bs its gone up to 2,465 just over 2 years crazy. How Escrow just keeps climbing. That's the hidden bs nooooooo one ever talks about
you must live in a state where there's no cap on property taxes. Do you call your insurance company every year to negotiate or do you just let them raise your premium?
@JebSmith there might not be a cap on taxes. Yes, I always try to negotiate, but it's always something that has gone up. I changed twice because they don't want to give a better rate.
@JebSmith I can tell you arkansas will tax the crap out of you. EVERY year they increase. We pay state. Personal property. Sales. And home property taxes. Every year they go up. Own a car in arkansas? 500 to 1000 tax no matter what. Own a home? Oh yeah they smile thinking of that. Go to grocery? 10 different taxes taken out on items. And of course 5% state
If rates drop to 5.5%-5.75%, that will be enough to entice me to sell my house which I bought as new construction in 2020 as a first time home buyer. The amount of appreciation I have been fortunate to experience the past few years is more than enough to offset the higher interest rate.
but you may ended up with a higher price tag for a new home. 5.5% -5.75% are still too high for those that locked in below 3%.
@@Baebon6259My rate is 2.5% and when I do sell, I plan to put 50% down payment a much higher down payment than when bought. Using the proceeds from the sale. My calculations will put my new mortgage at even lower amount than my first home.
@@Baebon6259nobody can afford to buy. Sellers ask 100k over value. Then when you want to buy you'll find 3000k payment waiting.
Thank You
Watching from new york
Watching from Portland Oregon
I'm in Inglewood, CA
Crystal River, FL
Dallas, TX
Invetory doubled in my area feom 2023. There is no lowering of interest rates to bring buyers back. Institutional investors are no where to be found and wont be any time soon. Period. I was there in 2009 to scoop up opportunities and this is playing the same but in a different way but untimately will lead to profit taking.
sounds like a place that isn't attractive to live in.
Where are you located?
Greenville SC
Salt Lake City Utah
Houston
It won’t matter until prices come down.
Do you think the government will ever look into Mortgage Porting in USA?
Sacramento Ca
From az.
Honolulu HI
is the rate going down below 5 next week?;)
No
@@joemomma707 My broker said it will go down sometime next week but not just sure if its below 5..but thank you😊
@@meganguill9610 not for conventional
@@meganguill9610 no. But possibly in 8 weeks
Even if mortgage is low or going low in the long run you still paying more and more every year. In 2022 I got my home at 3.5 % start was $2,136 now because tax and insurance bs its gone up to 2,465 just over 2 years crazy. How Escrow just keeps climbing. That's the hidden bs nooooooo one ever talks about
you must live in a state where there's no cap on property taxes. Do you call your insurance company every year to negotiate or do you just let them raise your premium?
@JebSmith there might not be a cap on taxes. Yes, I always try to negotiate, but it's always something that has gone up. I changed twice because they don't want to give a better rate.
@JebSmith I can tell you arkansas will tax the crap out of you. EVERY year they increase. We pay state. Personal property. Sales. And home property taxes. Every year they go up. Own a car in arkansas? 500 to 1000 tax no matter what.
Own a home? Oh yeah they smile thinking of that.
Go to grocery? 10 different taxes taken out on items.
And of course 5% state