She’s right about the gossip. I moved out of my family’s house just to move back in a year later. Heard next door neighbor was looking to sell. Although I had no intention of buying at the time. I couldn’t miss out on the opportunity so I prepared in advance and I haven’t looked back since. Best decision I could ever make.
I sold in '22 in NE Florida, and have been renting since. After all this time, I'm finally starting to see things unravel. Inventory is cruising, builders are incentivizing and affecting the existing home market, and the existing home (despite high listing prices) market is turning in my favor. I've been watching the inventory daily in three counties for two and a half years now. This week is the point where I decided it's time to start making offers on homes that have been sitting for over 120 days, which is plenty in my price range. The tide is turning.
Happy Monday, great information throughout, thanks for the points of view and incredible knowledge, many of the topics you covered i could write a book on, its crazy how insane the last 15 years have been in the Housing World. Thank you for the quality and passion of information, take care catch ya on the flip side. 😊
Comparing to 2008, it's sad that "market analysts" still have to be told that correlation is not causation. They feed confirmation bias to the extent that a lot of people are still waiting for a wave of foreclosures like in 2008. Anyway, I can confirm that listings for new builds in my area can sit around for >3 months without a price drop. That said, I hope 2025 is a buyer's market.
It will be interesting to see how many decades 2008 click bait lasts. I guess in fairness everyone still references the stock market crash of 1929 ....
Interesting question. I am not 100% sure. Give us a call and ask for Sandy and she can research it for you 786-933-2077 My gut would be no since there is not a rental history however since it is newly constructed that is where I pause and think perhaps.
What is your minimum amount of time you require for savings money to be seasoned in a bank. I was completely unaware that needed to happen. Me and my partner are trying to buy soon.
In certain areas yes like Atlanta and parts of Arizona. In other areas it was just everybody was buying because it was easier to qualify. More people qualify at 3% than 6.5%
Never EVER buy a new construction home! Unless you're buying the land and then building from scratch on your own time! If you buy a new spec home or a home to be built in a new community, the builder just wants to sell your that lot AS FAST AS POSSIBLE so they can start recouping money for the future phases of the subdivision. They'll build quickly with the knowledge that you have a WARRANTY on the work! By then you'll close on the house, they get paid and YOU have until your warranty expires to figure out that some of the work isn't up to code! You'll spend the first few years filing claims to fix stuff that SHOULDN'T be broken because the home is new! What you do - buy a resale home between 5-10 years old, NOT MORE THAN 10 YEARS! If you do this, the previous owner would have caught and repair most defective issues resulting from the builder's rushed work, the house would have mostly settled, and the house would essentially be "broken in" for you.
"Housing Market: Is 2025 the Year of the Buyer's Market?" No...I'm thinking late 2026 it will at least get closer to a Buyers Market. That's my hope anyway, and would work for me timing-wise. -- BR
@@JenniferBeeston Colorado Springs CO (COS), and mainly the new-builds/new subdivisions that are going up there -- which should help increase supply and put some downward pressure on home prices (have been seeing prices reductions for a while now in the listings I've been looking at). Even upscale "luxury" apartment complex rental rates have come down quite a bit from where they were 3 years ago, which is good news for renters in COS. But for me presently the mortgage interest rate is my most serious obstacle. -- BR
Ive been an attorney for almost 30 years and your channel is A+. I'm about to buy a home and the attached lender offering the incentives is riddled with 1 star reviews on yelp. What is your opinion before I go down the yellow brick road?
She’s right about the gossip. I moved out of my family’s house just to move back in a year later. Heard next door neighbor was looking to sell. Although I had no intention of buying at the time. I couldn’t miss out on the opportunity so I prepared in advance and I haven’t looked back since. Best decision I could ever make.
❤️❤️❤️ Hot gossip is the key to 🏡 sometimes:)
I sold in '22 in NE Florida, and have been renting since. After all this time, I'm finally starting to see things unravel. Inventory is cruising, builders are incentivizing and affecting the existing home market, and the existing home (despite high listing prices) market is turning in my favor. I've been watching the inventory daily in three counties for two and a half years now. This week is the point where I decided it's time to start making offers on homes that have been sitting for over 120 days, which is plenty in my price range. The tide is turning.
great content thanks 🙏🏼
Happy Monday, great information throughout, thanks for the points of view and incredible knowledge, many of the topics you covered i could write a book on, its crazy how insane the last 15 years have been in the Housing World. Thank you for the quality and passion of information, take care catch ya on the flip side. 😊
Thank you! It has been a heck of a ride for sure.
Thank you Jen for what you are doing I'm learning alot about how to go about buying a home.
Thanks, JB really awesome video filled to the brim with super useful information, you Rock! Be Well 🕊️
Thank you! You too :)
Comparing to 2008, it's sad that "market analysts" still have to be told that correlation is not causation. They feed confirmation bias to the extent that a lot of people are still waiting for a wave of foreclosures like in 2008. Anyway, I can confirm that listings for new builds in my area can sit around for >3 months without a price drop. That said, I hope 2025 is a buyer's market.
It will be interesting to see how many decades 2008 click bait lasts. I guess in fairness everyone still references the stock market crash of 1929 ....
@@JenniferBeeston Good reference!
I'm glad my house is paid off because I could not imagine paying what people are playing today❤
Can I use newly rented Back house/ADU as rental income to qualify for fha cash out refinance?
Interesting question. I am not 100% sure. Give us a call and ask for Sandy and she can research it for you 786-933-2077 My gut would be no since there is not a rental history however since it is newly constructed that is where I pause and think perhaps.
What is your minimum amount of time you require for savings money to be seasoned in a bank. I was completely unaware that needed to happen. Me and my partner are trying to buy soon.
will you say that the investors were the culprit in that bidding war. 21-22
In certain areas yes like Atlanta and parts of Arizona. In other areas it was just everybody was buying because it was easier to qualify. More people qualify at 3% than 6.5%
Never EVER buy a new construction home! Unless you're buying the land and then building from scratch on your own time!
If you buy a new spec home or a home to be built in a new community, the builder just wants to sell your that lot AS FAST AS POSSIBLE so they can start recouping money for the future phases of the subdivision.
They'll build quickly with the knowledge that you have a WARRANTY on the work! By then you'll close on the house, they get paid and YOU have until your warranty expires to figure out that some of the work isn't up to code! You'll spend the first few years filing claims to fix stuff that SHOULDN'T be broken because the home is new!
What you do - buy a resale home between 5-10 years old, NOT MORE THAN 10 YEARS! If you do this, the previous owner would have caught and repair most defective issues resulting from the builder's rushed work, the house would have mostly settled, and the house would essentially be "broken in" for you.
I think you will really enjoy a video I have planned for next week.
Twitter X lol. 😅
❤❤
"Housing Market: Is 2025 the Year of the Buyer's Market?"
No...I'm thinking late 2026 it will at least get closer to a Buyers Market. That's my hope anyway, and would work for me timing-wise.
-- BR
What market are you watching?
@@JenniferBeeston Colorado Springs CO (COS), and mainly the new-builds/new subdivisions that are going up there -- which should help increase supply and put some downward pressure on home prices (have been seeing prices reductions for a while now in the listings I've been looking at). Even upscale "luxury" apartment complex rental rates have come down quite a bit from where they were 3 years ago, which is good news for renters in COS.
But for me presently the mortgage interest rate is my most serious obstacle.
-- BR
You're welcome...
Ive been an attorney for almost 30 years and your channel is A+.
I'm about to buy a home and the attached lender offering the incentives is riddled with 1 star reviews on yelp. What is your opinion before I go down the yellow brick road?
Thankk you! I would not work with a lender with one star reviews. There is no good that will come from it unless you do class action law...
@JenniferBeeston as a matter of fact I do... :)