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Should You Buy A House in 2023
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- Опубликовано: 10 апр 2023
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I had my house on the market for 8 months, I drop the price 3 times still didn’t sell, I decide to rent it out last month. The rent is crazy out here, I set my rent very low cause I want people to be able to afford it and still take care of their kids and live life. If I had more houses I would do the same thing people think I’m crazy but I know the struggle
Congrats, hopefully you were able to rent it out quickly. Thanks for watching.
May God continue to bless you & your love ones which everyone heart was like yours
@@ShaheedahHill thanks, yes it did rent quickly, it turned into a bidding war. I told them I wasn’t impressed with the money, i stuck to the price I said, I was here to help and I wanted someone to care about the house as much as I do.
@@carmellepetitfrere293 I appreciate your kind words. Thanks 😊
This is precisely what is needed! Thank you for being considerate so someone could afford to have shelter and you see get revenue without being ruthless. It's going to get worse each month, and alternative financing/arrangements need to be in place to combat what's to come
I advise people to save at at least 3 months of monthly expenses. I was living in my house, (single at the time,) about 4 yrs. When I was diagnosed with cancer. The following year, new management came in, and I was let go. I was going back to the Dr's and hospital to check for any cancer cells. That money came in handy. I was out of work for 2 and half months. You just never know what life going to throw at you.
Great advice, !!!! I will take it with me
Great advice, I hope you are healed❤🙏🏽, thanks for sharing
🙏🏿🙏🏿🙏🏿🙏🏿🙏🏿🙏🏿
6 months Is better
Sorry to hear that glad you are alive
I need a house for my own sanity! Gotta get out of my parents basement. Plus I want to garden and grow my own food! I can tear up my yard all I want
Totally understand, thanks for watching
I feel I'm so ready to buy, I am going to just take the plunge and buy this year. I am going to put it in God's hands
@@freedomforgiveness6041 god won’t pay your mortgage or lower your monthly payment . If you over work and get ill , god won’t pay for your medical bill either 😭
@@freedomforgiveness6041 please don't do this, that's like saying I'm going to walk into traffic and purposely get hit.. but God can do miracles so it's all good.. be wise.
Is this satire? I hope so, because although I have nothing personal against gardening as a hobby, you aren't going to make it if you spend your time doing that.
I literally had no choice but to buy to avoid increasing monthly housing cost by $500. Rental Prices are crazy! The place Im currently renting the landlord gave me a 30 day notice vacate so they can rent at higher rate. My mortgage is only $80 more than what I’m paying for rent currently.
Congrats, good move
I feel bad for you but yeah they're trying to make money cuz like she's saying in this video it's a homeowner's market
Congratulations! Paying $80 more to OWN your home is way better than paying a greedy landlord
It was the correct move, provided you play your cards appropriately until it is paid up.
That’s happening to my niece right now, her family have to leave cause he is raising the rent $300 more a month
My leasing company and their astronomical rent increases bullied me into homeownership. If all goes well, I’ll be closing on the 12th of May. 🙏🏽
Congratulations!!
@@ShaheedahHill Thank you!💗💗
congrats
Congrats, it's May, I hope you closed or are about too!
It’s May 12th. Did you get your house?
This is such a strange time, rental prices are just as high as mortgage 😅. The idea of moving makes me think I should buy.
Thanks for watching, yes this is a unique time for sure.
The way I look at is that , if you make your own home economy work out, then it’s okay to buy. We are in the process of closing and we are planning on paying it down as fast as we can to offset the high interest and if an opportunity comes to refinance then we can . If not we will keep attacking it as fast as we can and pay it off under 4-7 years . I am a millennial and I want my kid to have a yard and it makes sense for us to get the house
Congratulations and you will be fine, you have a good plan for your family🙂
Exactly what I've been doing. High enough rate, new build started at 3 and by the time the home was finished, ended up at 5.37 and that with a buy down. It doubled the mortgage. Now I'm dumping large payments into the home because it's our forever for now home and I'm in LOVE with it.
I'm sure looking back 2 years from now, you'll be happy you purchased and didn't wait. I bought in 2020 (when everyone said not to), and I got a sweet 2.8% rate so I'm happy I bought on my own time.
It's just all unpredictable. I wasn't mentally ready years ago but, this is the first time in my life I have the mindset to buy.
Yes, nobody knows exactly where the economy will end up. So you have to think about your situation and risk tolerance and make a decision. Thanks for watching.
As a first-time home buyer, I've been watching few videos on RUclips related to the same subject, so far yours are the best.
By the way, teaching is a God-given gift that you have. You make things so easy to understand.
Thank you from the bottom of my heart.
BTW: I've subscribed to your channel and will share your videos with few of friends that are also first timers.
Thank you so much Jude. Welcome to the channel🙂
I wanted to buy a home this year, but being so priced out of the market, a tiny house ain't looking so bad. 😢
Your in-depth analysis of the property market is truly eye-opening. I appreciate the time and effort you put into your videos. Keep them coming! 💯
Thanks for watching!
I took the chance and bought a home this year. It has been costly but, I wake up thankful every day.
Congrats Renee!
@@ShaheedahHill thank you for your platform. Your advice and tips helped ease the stress of buying.
people better buy a house to live in it is cheaper than rent. home ownership is another way to build wealth bc the value generally increases. 🏡 good luck everyone.
Thanks for sharing and watching.
Off topic but Your hair looks so healthy and beautiful
Thanks so much!
Yes, it is true on the new development incentives from what I've been offered at least. It seems ironic that a new home is the better deal, but it's not a bad thing.
I regret not buying in 2020, 2021 and 2022. My son and daughter need their own rooms, having an internal debate on buying in 2023 or 2024.
Thanks for watching, approach the market cautiously and make sure you know where prices are trending in your local area. Best of luck!
Wait for 2024 or the very first month you see the FED start to cut rates. That will be the start of the real turnaround.
@@10_door_tycoon amen and exactly. People ain’t patient
Iam ready to purchase my first home and iam all ears and looks forward to your commentary. Thank you
We’re under contract and this stuff just makes me go “Did we make the right choice here?” and at the end of the day, I don’t know what home prices and rates will be in a year. In a year, for all I know, our apartment rent could skyrocket. There’s no way to predict things so when we found something that could work for us, we sprung on it. Too hard to try to time the market perfectly. Our new house (assuming things keep going smoothly) will be $380k for 2440 sq ft in Florida. We might not close until June-August though so I’m hoping rates may go down a bit. We’ve put down 5% as our EMD and are gonna have to play with things to see if we need to keep putting down more of a down payment, or potentially buy the rate down. Either way, it sounds better than the anxiety of waiting around to see what happens with the market, housing inventory, etc.
You will be fine, just make sure the home is in your budget and have an emergency fund. Thank you fo watching.
Sis I'm looking to buy ahouse for the same reason. I'm glad it worked out for you
I use to watch your videos all year last year as my wife and I got married in the Bahamas then purchase our house in 2022. Thank you!
Congrats... thanks for watching
I think the question should be, why you not buying a home, it will benefit you in short and long run
Thanks for watching!
I just wanna move out of my hot apartment, messy neighbors and everything else
I understand, thanks for watching.
I'm just not understanding how home prices are gonna be able to sustain a 50% increase in a 2 year span of time. This fake money has to go away somehow someway. Where in history has this ever happened? On a different note, though, glad to have your input. I've been waiting!
You mentioned it right.... "fake money".
What fake money?
Thanks for watching. We are in a time that we really never seen before thats why there are so many views on what will happen. I think we will fall somewhere in the middle. We have never had this much stimulus during a pandemic, in a time of technology/remote work, low unemployment, aggresive interest rates increases, etc.
Bingo! But unfortunately, people will borrow as much as the bank 🏦 will loan.
They are already talking about 40 year mortgages. Smh! So essentially, your mortgage provider becomes your landlord.
😶
@@alphaomega1351 🤦♀️
You are AMAZING! I am a realtor with COMPASS in NJ and I learn so much from you! Thank You, Shaheedah!
Thanks so much Traci! I appreciate the support of a fellow Realtor😊
We bought our first home a month ago and I'm glad the process is over!
Congratulations!!
@@ShaheedahHill Thanks so much and watching your helpful videos were helpful as well🙂
congrats
I'm set to close in August. Selling my first home. Found a new build sitting on an acre in SC in the country. Price is 305,000 and I'm putting down 95,000. Super nervous about a higher interest rate but praying for declining interest rates to refinance in the future.
You do such a great job at breaking everything down. Thank you
You are so welcome!
NO MAAM STILL LOOKING ALL HOME HERE IN OHIO LOOKS BAD UNTIL 65,000 I KEEP TRUSTING LORD HE GOT MINES SOMEWHERE OUT HERE
Thank you for a great video with great information. I am considering buying out of state. I live in Los Angeles and I just do not see home prices being affordable moving forward. This will be my 1st home, God willing!
Glad it was helpful, best of luck!
Good luck! I hope it work out for you. It’s ridiculous all over. This just should not be allowed to happen. Move people just can’t afford to live without struggling
Yeah I recommend getting out of California as soon as possible. But leave the SoCal personality behind. I don't mean for it to be a political debate, but California is almost 100% run by Democrats, yet the policies have a long track record of not helping economic situations. They promise to fix it, but I don't see any progress.
@@paulstandaert5709 I’m an East Coast Woman. I never picked up the Cali attitude!🙏🏽
Hey Boss Lady!! Great Video! U shud write an ebook with email capture so U can gather all these leads in an organized way, put them in an email drip campaign and close on them at some point OR refer them out! Drive these videos to that ebook! Keep being great!! 💪🏿❤🙏🏽
Thanks for watching
This was an informative video. Since no one knows for sure how's things will go exactly I think if things financially make sense for the buyer, then they should buy since as we saw from the graphic home prices only decreased a small amount from 2022, but interest rates have increased exponentially due to FED hiking rates making mortgage payments higher so if they can afford that higher mortgage payment then they should go for it if they are ready for responsibilities that come with being homeowner.
Thank you for watching.
Yes you should buy now, Because once Fed starts cutting rates prices are going to appreciate by another 30%.
I think this WILL happen.
Thanks for watching!
I agree which is exactly why the Fed won't/shouldn't reduce the rates.
I am terrified right now with the NEW HOUSING being built. Especially here in Charlotte North Carolina. They don’t look durable! I’m not confident in the materials these houses are made of. Also, there are HOA’s included and I don’t care for HOA’s!
Thanks for watching!
Wow you have a real calming effect
Thanks for watching!
Answer: hell no!
These prices are absolutely ridiculous. At least 50% more than they should be. 😶
Thanks for watching
I love these videos, but I need to talk to you or have a consultation. I’ve gotten a lot of education from you by the way so thanks for that! I agree with one of these other comments though. These apartment prices constantly increasing, building a family and dealing with these neighbors isn’t the move. I’ll definitely pay for a peace of mind and chance at home ownership!
Thanks for watching!
I was disappointed in the rates last year. Even worse now.
Been living with my parents to save money… I’d rather pay them than any other landlord, especially with inflation. Home prices are coming down, but not fast enough. Hopefully by the end of the year we can find a good deal.
That makes a lot of sense. Thanks for watching.
Honestly, I don't see prices going down much. The supply/demand situation isn't going to be conducive for that to happen any time soon.
@@paulstandaert5709 oh it will don’t worry. Ppl said the same in 08.. it’s going to snowball. 2 weeks before svb fell Janet yellen was telling ppl to buy their stocks. They will never tell you the truth until it’s too late. Of course I understand you don’t want your house price to go down but you cannot stop what’s coming
@@EclipseEditzx3 Actually, I would absolutely love my home value to plummet. If history repeats itself, the property taxes will go down as well. The only time I want the value to be high is when I am ready to sell out. But even then, I will probably be moving to another place that is valued high, so it will be a wash. There is a key difference between 2008 and now. Back then, the supply of homes was enormous compared to demand and that is not the case right now. It's tough to even find a labor force who is willing to do the construction now. Values will go down, and they already have. Will they crash? That's unlikely. Something will need to happen to crash the demand, such as a population decrease which seems to be happening in places like Illinois, California, and many misc urban areas. Will it be enough of a decline? That's to be determined.
@@paulstandaert5709 it’s different and way worse and the debt bubble way bigger. Printed and fake equity. Back in 08 inflation wasn’t this bad and no one was challenging the dollar as today. If countries dump dollars and govt bonds it will be toast. Too many things are frothy and wrong this time. Only those who are in homes with 3% locked in think it’s safe but it’s not. If houses don’t sell and no one moves economy will tank. Real estate doesn’t have to crash first to bring down real estate. There are many other factors. 3% loans mean nothing when you over paid, over bought with no contingencies. Bought because of FOMO not because you liked the house. This greed isn’t going to end well. I do not wish it on anyone. It’s all the FED’s fault who printed money out of thin air endlessly. Speculators speculated and ppl started chasing assets with printed money. This bubble is not like 08 but way worse
I'm 27 and would love to buy any day now but with high prices & high interest rates being house poor just doesn't sound appealing. I'll just wait to inherit my parents house.
Affordability is a huge issue
Spoken like a true GenX right at 27yr old!!! U just make sure u don't pay a landlord and pay your parents instead! That's the least u can do waiting for what we Jamaican's call dead leff! My suggestion is push yourself to own and when God says its time, u can be in building wealth mode and know how to manage major responsibility 🥂🤑👈🏾
As long as you have a credit score over $550 you can find a house it just really depends on where you want to move to I highly suggest moving to places like near farms and things like that more super rural
@@A_Well_Traveled_Man For a 27yr old🥳 great advice!🧐🤥😳
Thanks a million Shaheeda. Your info is always right on
Thanks for watching!
I closed in January with a 4.99%. New construction with seller paying closing cost.
Congrats, thanks for watching
Thank for getting right to the point 👍🏾
No problem 👍
I'll definitely keep in mind the points mentioned when making my decision. Keep it up!
Make a plan and go for it. Stay tuned...Thursday I will be going live to discuss how to get a deal in this market.
Thanks again for this information. Every video I see of yours, I get valuable information. This very in-depth, I really appreciate you doing this
Thanks for watching!
Great content! Keep doing the good work!
Thanks for watching!
I'm in NY, no hope of getting a house here. I'm ready to go to at least New Jersey where prices are skyrocketing also. My husband and I decided to wait and work on savings more. There is no way that I am going to buy a house for my mortgage to be 5000$.
Thanks for watching.
Stop coming over here😂
New Jersey prices are just as high or if not higher in a lot of locations as New York City especially if you're moving around Newark or the oranges The only place that you can most likely move to actually afford anything would be like Patterson New Jersey things like that or if you go all the way down to the Philadelphia side of New Jersey and South Jersey and get something in like violin or something like that but the taxes are going to kill you so it doesn't make sense I highly suggest moving to Connecticut
Or do what a lot of people in New York are doing they're moving to Philadelphia where it's a lot cheaper and the taxes won't kill you half as bad it moved to one of the suburbs of Philly That's where so many people are doing and then they just take the train from Philly to New York to work everyday it's like an hour ride on a train
@@A_Well_Traveled_Man Which train Amtrak?
Low inventory, high rates, increased house prices, and banks increased requirements for FICO and down payment, are making it difficult to purchase a house. It's better to rent and invest the hostage money (extra money your forced to come up with) into other financial vehicles like stocks and bonds, until the market comes back down; which might be in 2-4 years.
I think it definitely will take awhile for housing prices to go down
Thanks for watching!
Very well said . I hate these realtors when they say it’s ok to buy if it makes sense. I am financially capable of buying even if prices go down but I don’t want to lose my hard earned money. Besides my job can make me move anytime. I don’t want to be an accidental landlord
This is very helpful. Thank you always!
You're so welcome!
Great Advice!!! Did anyone ever tell you look like Erica Alexander/Maxine Shaw❤❤❤❤
Yes, a lot. Thanks for watching
NC is full yall. Try one of the other states. 😅
😂😂😂😂
😊Yes, NC is hot right now.
Thanks Amen to 1st Time Buyers Tips
You're welcome, thanks for watching
Deffinately not a time to buy unless you have inough money to lose it.
What you’re and most of others not noticing, intentionally or otherwise is that this time is exceptionally different.
Debt ceiling time bonb.
We just added how many? Four trillion to existing 32.
That’s why we have this unprecedented prices in realestate and stock market.
Living on borrowed time and money.
Eventually the can wiil become to heavy to kick.
When that happens bond market will crash and take down both , realestate and stock market.
And the whole hell will break loose.
There will be some many houses on the market, but only fiewer buyers.
When ? It’s hard to predict but moving in that direction.
Thanks for watching!
Just here to say thank you for your content!
I appreciate that!
In Memphis and Mississippi the market is booming. Low cost of living and housing.
Always the best advise
Thanks for watching
We are tier of paying rent… we need to buy this year
I understand, try to follow my recommendation, but most important is to make sure you have a stable job, you are buying in your budget and you plan to stay for the long-term 5-7 years minimum. Thanks for watching.
You will be even more tired of trying to pay off a mortgage you can't afford.
Nowadays, it's all about selecting the best feasible option and unfortunately with these 50% or more inflate values of homes, real-estate ain't it. 😶
People will have to buy at the right time. Buy when interest rate is down.
Thanks for watching!
I'm staying put with my 2016 price and 3% mortgage... Here in the northeast the prices are still climbing!!
Yes, stay put! 😊
52 and hopito close on a home in Atlanta suburbs before July..first home for me and hoping to have 6+ months Emer fund...if these rates drop a little by then i can do it
This was very helpful. Do you have a video about what we should be looking for in a realtor/broker?
Thank you for watching. Here is my "Working with your agent playlist", you can find what you need here - ruclips.net/p/PL6YdU_zvybVk4pE57wAuVxWn_g8garLq3
Really, really good stuff!
Thanks for watching!
That’s right. Market is doing just fine
Thanks for watching!
@@ShaheedahHill of course. Hopefully the channel is helping grow your business
Anyone should buy a house any year anytime point blank period why pay money that’s not buying the property u at ? So yes buy a house
Thank you for this advice and painting a clear picture from both sides. I moved a few years ago to the south for affordability but now the homes have double in price and the property tax rates are high. 😞
You still made the right move. Ger in position to buy and take advantage of the right opportunity.
Great content - thank you for the overview!
Thanks for watching!
You're a good person. 😊
Thanks for watching!
I have watched 3 of your videos one after the other and have thoroughly enjoyed them. I was wondering if you could layout the landscape for diabled first -time home buyers.
Thank you.
--June Marie
Thank you for watching. Are you speaking about being on SS Disability or just navigating the process of the home search with a disability. I have this video on affording a house of SS - ruclips.net/video/Xm7DMx4ZoAI/видео.html
Thank you
You're welcome
Thank you for sharing
My pleasure
Thanks Shaheedah! 💎
Thanks for watching
Nothing short of being forced (recession/foreclosures) is going to help home prices. People are high off of 2021/22 prices, so they don't want to sell unless they can get those prices; on top of not want to leave a 3% interest rates. I'm in Atlanta which has the most over-priced houses in the country. I want to move, but I personally am not paying $350k-$400k+ for houses that were just $250k 2-3 years ago; on top of high interest rates. People need to just refuse to over-pay. Buyers determine prices. Sellers can't sell a house (or anything else) without a willing buyer.
Also, the idea that houses are going/have to appreciate over time needs to be let go. 90% of people's wages have not increased over time (considering inflation). So to think house prices can/should increase indefinitely/beyond the rate of wage increases (which is basically 0) is not realistic. If that's the case, we're gonna be going thru housing unaffordability every generation. If you can sell your house for what you purchased it for is a win. The reason housing prices have gone up so much over the past 40 years has been largely because of interest rate decreases (which are on the way back up).
Thanks for watching!
I agree and disagree at the same time, I agree prices cannot go up indefinitely BUT historically speaking, prices do increase over time, think about the homes that were 75k in the 1980's that are 400k today. So over time, YES they do go up. That's why the majority of millionaires own alot of real estate. Bottom line, home ownership generally does not get cheaper and wages have rarely kept up over time and its just getting more and more disconnected 😒
Those prices you listed do not seem overpriced at all.
350k-450 is not overpriced at all compared to CA, Boston, NY etc.
@@sobeliever1638 I’m on Georgia, sir. Real estate is local. GA prices are not CA, NY, or Boston prices. Look at the the cost of living in relation to wages in GA vs those 3 locations, and let me know what you find out.
Thank you very much.
You are welcome!
You can port over your low interest rate or do an assume loan it the seller is willing.
Thanks for watching!
VERY FEW, if any banks have assumable mortgages these days!!
It's to the point where a median-income family can't afford a median home...at least in Los Angeles County.
Correct!
I make real estate and travel videos in the Japanese market and it's a great country to buy. I just bought my 10th house. So it all depends on where you live.
I live in North Austin tx We bought our 5br 2888sqft home 🏡 in March 2022 for $600k Home values are down all around us now. We already plan to move to another zip code in the suburbs because the district is top 10 for public schools in America. I am afraid that if I don't sell this year, I will not make money on the house and potentially miss the chance to buy a home under $800k in the area I want since home prices are plummeting. Any advice?
If home values are down around you, are they also down in the area you want to move to? If the other neighborhood is where you want to be long term then you should make a plan to move there but it may not need to be immediate. What about renting in that area instead of jumping in to buy, so you can get a better feel for where the home values are going, you would be going up in price and interest rate when you move now. You also can consider renting your home instead of selling. Austin was such a hot market home values rose quickly and they are likely to see some declines. If you decide to sell, see if there is an option for the buyer to assume your mortgage rate if you have a government loan, that could make your home more desirable. Best of luck!
20 years ago, before RUclips was nearly what it is today, people told me that I was dumb (perhaps correct) and/or high as F for even considering buying a home and that I would never make it.
Well, I did it anyway, and I am still in it and it's paid off in full.
Move on to about 2010, and there was a rash of people wishing they would never have bought one because of this and that and the values plunging. Now, in 2023, people are complaining that they can't afford it and rich people are buying them all and blah blah blah.
Doing the math, the exact same jobs that I would have worked 20 years ago is paying better than double and the math all works out about the same. I honestly believe that despite inflation, there are more opportunities now than ever to obtain most necessities of life. Not one complainer has ever disclosed his/her work/financial situation and was willing to do the math with me.
Thanks for sharing!
Alternative housing and financing is needed. Conventional construction, conventional housing, conventional financing and conventional renting is failing and leaving people homeless, working homeless where you have a job but don't have the cash or credit status to secure financing shelter. This is ridiculous and doesn't have to be like this. Shelter shouldn't be such a struggle to secure. Mortgage doesn't mean one truly owns a home, and once your job is gone or reduced or can't refi with tampered credit score, or home insurance spikes, how will one pay mortgage? This conventional system isn't working.
Thanks for watching!
What about when the other countries go to currencies what going to happen then because it's in the works right now. What do you think, do you really think that people should really be buying homes. Will that affect buyers. Can do a 🎥 on that. Thanks
I will work on a video discussing that, thank you for watching.
Thank you. That was great and helpful advice
I appreciate your content and being very detailed & informative 😊❤
Thank you so much!
FL is NOT more affordable! I moved from Pensacola to Tampa, & it's stupid expensive for a single middle class person to get a decent home, they start at $285k!
I was born and raised in MI, you can get a pristine large home with acreage for under $200k there!
I feel like its impossible to buy a house now if u make less than 50k and single uggh
Homeowners are starting to have a reason to sell. Property taxes are taking up too much of their income.
They also are starting to have children and need a bigger place.
Thanks for watching!
Hell no! Unless u are a successful business owner, doctor or lawyer .. The rest of us is out of luck
Good stuff
Glad you enjoyed
This was a well balanced analysis free of hyperbolies.
very informed girl
Glad it was helpful!
I need a house but I'm currently in FL, I work for state government, I'm like 5 years out for being eligible to retire so moving to another state is not feasible for me to do, I'm still young however, with the insurance crisis here, I'm at a crossroad with buying here.😔🤷🏾
Thanks for watching!
I’m in Florida too. I basically pay a mortgage + interest for my rent. However, I’m a loan signing agent and I see how many homeowners can’t afford the rising property taxes and change in insurance. Many of them are doing HELOCs, but not refinancing. It scares me that I will be house broke and put me in a financial bind.
When a house is vacant, but as you look up that house. It says “OFF MARKET”… What does that actually mean to someone that’s actually interested in that property????
It just means the owner does not occupy the property and it's not for sale. You can look up the tax records to see the address on file if you want to contact the owner. Thanks for watching
@@ShaheedahHill Thank you ma’am 👍🏾🌹
What's your opinion on buying in the Lithia Springs area? I know Douglasville is a growing area but wanted to know more about Lithia Springs and home pricing.
Its a nice area, more affordable than other parts of Douglas County. Thanks for watching!
FL isn't affordable at all... such a shame that Floridians are being pushed out by those that are not from here and the rising rates.
Hello. The market seems unstable and a recession is looming. My agent told me “just buy something! “. I don’t see anything that I want for what the lender is offering me. Any advice please?
My dad said the same, “you need to get into something now” because, if you keep waiting you may not be able to get something.
@@Laylay904
Thank you!!!!
Like I mentioned in the video, I don't think there is a rush to buy something right now. It is more likely in most areas for prices to fall moderately than to rise and interest rates will be in this range for a while. The Fed may pause on a rate hikes in May and you will not have this drastic market changes. But this is also area dependent. Where are you buying?
@@ShaheedahHill
Thank you
please don't act on FOMO. your dad is scared, and that is when you make big mistakes. Prices will drop in the US, give it some time
I have a question? I am worried about credit score, if I'm trying to buy a house with three other people, and let's just say one is 800, next one is 780, 750, and the last one is in the average of 650. How will that work for my pre approval?
For most loans they are going to use the lowest score for qualifying, some conventional loans will allow an average.
@@ShaheedahHill That's actually incorrect I work for a title company they use the middle whatever the middle one is😮 if you going with a traditional bank like Bank of America or PNC Bank which is really big or Chase Bank then yet banks like those will go with your lowest credit score but your average mortgage company or credit union will use your middle score🎉 I'll tell people to use credit karma because it always shows like the lowest scores in general anyway so that's a great way to know that you won't get declined because if you go by your actual Equifax or if you use your profile through the different credit scoring companies it tends to be higher on them because they have the data first but by the time you go to somewhere to finance your purchase they always usually are getting the older information
Recession!???
We’re Headin for another DEPRESSION!!!!!!!!!
Thanks for watching
grown folk or adults should know if to purchase or not. It's not rocket science.
Thanks for watching!
It’s absolutely garbage in MN.. 😢
😔I understand, hopefully there will be some relief soon. Thanks for watching!
Iam a 65 year old widow I am retired and is it to late for me to buy a house
No, it is not too late, here is my video on buying a home in retirement - ruclips.net/video/rgSryomdyz0/видео.html
No it is not too late. My dad just bought a house this month and he is 74. Age discrimination is not permitted under state and federal laws.
Just buy land its worth more then homes
i moved to a cheaper affordable town within 1 hour commute
Good move! Thanks for watching.
Your comparison around annual avg of monthly supply not accurate.. you are comparing 2007-2010 vs 2019-2022 which is completely wrong.. this is not an apple to apple comparison.. 2007 was the start of downtrend and now we are in the start of downtrend in 2023.. we are just 3 months now in 2023, and we are seeing a downtend.. if you really want to compare.. it shoud be 2007-2010 vs 2023-2025 which we dont have the data yet.. How can you show 2019-2021 when home prices surged like crazy which should be compared to what happened in 2005-2006 which later resulted in a disaster.. Get your data right..
I will compare when 2023-2025 data is available. Thanks for watching
I’m on disability and can afford $1,200 a month for mortgage at the most. Would it be wise to rent or buy? Rent right now is $1,100 a month.
Use the checklist at the end fo the video to see if it would be wise for you on a fixed income. Also, look into options like USDA Direct to see if you can find some affordable options.
@@ShaheedahHill thank you
Highly unlikely that you will get a mortgage while on disability, you need to find a job you can do if possible. Also how will you pay for the repairs and maintenance costs of home ownership? There is no landlord to do that for you! The costs add up quickly, and you will end up in foreclosure! Quite honestly, if you can own a home and maintain it, you probably don't need disability, just saying!