I'm waiting until prices come down closer to pre-pandemic levels. I only hope the government doesn't concoct some crazy intervention to elevate housing after stocks and bonds got crushed.
Here’s a statement that you’ll never hear from your realtor when your out looking at homes. “This is absolutely the worst time to buy a single-family home”.
Realtor: "We sold you a house using FOMO a year ago; since you made a mistake with that one, we'll help you buy another house, at a much higher interest rate, even though you're underwater on the old house by 15%". Nice job!
The smiling and giggling is very telling coming from a realtor. He was definitely game when it came to waiving contingencies. “So we have a competitive offer”. Disgusting scammers.
@@lorieabraham272 because he’s on tv and not everyone has the same reactions. Y’all making it seem like he personally scammed people. Did he force them to waive inspections? Uh, no.
He makes his money buying and selling houses lol. If as a buyer you're so desperate that you're willing to pay hundreds of thousands over asking, waive inspections and not even stepping foot inside the property before buying it, as some were doing, then you really only have yourself to blame, sorry.
The greedy realtors and buyers should have remorse! I watched the greedy realtors brag about waiving inspections and how many inspectors or appraisers did this greed screw over? How many neighborhoods now are owned by Wall Street investors or Airbnb. Crash and burn baby and learn a hard lesson--blind greed is disgusting 😮
As a former home inspector I approve of this message! Most realtors are dirt bags that will say and do anything for a sale. Most the time the inspector they recommend is because they know they won't hurt their deal. I've witnessed a lot of bad realtors and home inspectors working the system.
I have no empathy for the people who overbid, paid 100,000s over asking and are now having buyers remorse. They and their greed to acquire the house over the next guy brought us to where we are now in the housing market. I look forward to seeing the prices come back to earth, and sadly the foreclosures that will right size the real estate market again.
Wait until they have to repair those overpaid homes. Cha-Ching… too bad. The repair people are going to over charge expecting you to over pay them as well.
@@popcorn8153 There were multiple factors going on at the time that created the perfect storm. COVID scared people out of their apartments and many were first time homebuyers inexperienced in doing their diligence. Remote workers assumed it would be the new normal and people who never had money thought they would be rich with all that stimulus money that they assumed would last forever. There's a lot of lessons to be learned from what happened but the average person has a short memory and refuses to learn history.
@@daveb2280 One of the biggest factors was also that the government bought 25% of homes on the market during quantitative tightening to boost the economy, WAY over-inflating prices. Also, people knew interest rates were going to hugely rise to fight inflation, and multi-national corporations also purchased whole neighborhoods all over the U.S. Actually, the stock market also created a ton of wealth that people used to borrow against to buy their homes, and are screwed now that they have an overpriced house and grossly diminished portfolio assets.
This reckless overpriced buying negatively affected a lot of native Idahoans. I'm not sad about the current predicament brought on by FOMO home purchases backfiring.
Right?! Literally EVERYONE we know is priced out or can’t even afford a 1bd rental making what used to be good money! The lives of so many young people in Idaho have been disrupted and put on hold thanks to Californians, greedy realtors and greedy investors. It’s truly sickening.
@@bmo5082 No, no it did not. An average Idahoan just got kicked in the package with higher property taxes, overcrowded roads (often shut down to run utilities to new subs for CA's) and a decreased quality of education for kids.... amongst a litany of other things.
Boohoo Nobody put a gun to these idiots heads and forced them to buy a house. Stupid is as stupid does, life choices have life consequences. Can you say irresponsible. There is never a place for emotions or politics when conducting business period.
@@vidguy007 lets keep things equal they re ALL crooks living of commissions on your biggest purchase that savey ppl never should need to pay - salesmen and WOMEN
As a former home inspector all I can say is, there is a reason people have been getting home inspections for years. Can't tell you how many times I've got to a home to see minor cosmetic fixes to look nice but major issues with the home in vital parts of the home. Yeah it looks nice but how are it's components?
I’ll trust that you do a good job, but the two I’ve gotten have been a joke. Missed a major problem in my current house that I found first day we moved in.
@Senior Housing Analyst Geez, friggin beyond dense. HERE IT IS FOR YOU: the above comment regards home inspection. It's a reply to the topic in this comment. If you can't get why a home inspection is important you shouldn't be buying a home.
What a realtor told me “it’ll be more expensive, if you don’t buy now you’ll be paying more in a few months” I was talking to a few seeing what was in the market lol glad I didn’t buy
Yes, unfortunately, this probably affected first time homebuyers. A realtor from Arizona told me to bid at least $40k over asking or get into bidding war; needless to say I thought it was ridiculous and decided to buy elsewhere.
I live on Cape Cod. House prices jumped from high 300s/mid 400s to 600/700,000. Not only that, but we saw bidding wars of 100/150,000 over the asking price. I honestly don't know how they'll sustain that high valuation.
This realtor is laughing about how he and the rest of the realtors up in that area fleeced all these people. He for sure told them to waive the inspection, offer way over. Realtors are why we are in the mess. Got people into a frenzy and it took off from there.
Not just realtors, but naive buyers and the whole industry FOMOed people into it. But who is the original sinner in this? Yes, the Fed, who supplied the money to all the drunken sailors, who spent it quickly and unwisely.
The ultimate responsibility is on the buyer. Stupid buyers = stupid problems. Not all relators are like that. That is a stereotype. And if yours is, it's on you to tell them what you don't like and get a new one. It's also on you to be responsible and take accountability for your actions. The realtor didn't sign your papers for you. Take out a mortgage if you oculdn't pay cash up front, etc. Losing money on a house? You knew it could happen when you bought a $500,000 house that would have been $225,000 5-10 years ago. $330,000 that would have been $175,000. $1 million that would have been $400,000. Simpville ain't fun.
People moved away from their work place as they could work remote. Now companies want workers back in the office 1-3 days a week. Difficult to do if work office in Denver, Los Angeles etc.
Not only that...many tech companies are laying off workers as they over-hired within the last 1-2 years. Those people who moved away and bought homes thinking they are sitting pretty and making money should now be feeling sick at their stomach as their job might go away. Remote employees are always the first ones to go. Then these people will mostly likely lose their homes and that will free up more housing inventory in the next year...
@@Islandboy1900 If you're truly wanting to be a remote worker year-round and you have any kind of of a halfway decent salary you don't even need a home and a 30-year mortgage that you're enslaved to. You could essentially live as if you have homes all over the world , renting Airbnb or doing short-term leases for a month or a few months at a time. Go where you're treated best and where the dollar is great again. There's places in the world where you can have much better life and better culture for way less money. This is the true freedom and beauty of being a remote worker
@@JJ38255 I think you missed the point....what Christian is saying is that we're only on the outskirts of a great recession, yet companies are already starting to fire remote workers. When the recession is full blown, remote work will not be an option. Living all over the world at any given time will require conventional methods of finance, such as shift work, gig work, inheritance, and/or retirement. Even in the poorest countries, one can't retire with less than 100k, and that's only IF they have little to no medical problems, purchase a house for dirt cheap, and don't plan on living past 80 years old.
The realtors are feeling it, especially now that buyers are sitting on the sidelines. A lot of the realtors gave up steady paychecks in other fields to make “easy” money in real estate during the pandemic. Nope. The party’s over. But watch, at the end of the next housing cycle, there’ll be a new generation of realtors doing it all over again.
I don’t know why but I have yet to hear anyone mention that after you over pay for that house of your dreams that your taxes will also reset according to the newer and higher assessed value which means your property and school taxes will double or triple or worse the following year.
In Idaho, regardless of when you bought the house, it is assessed on current value. In California, due to Prop 13, it is based on the purchase price and goes up a restricted amount every year, regardless of how the property is worth. If the value drops below, it is reassessed for that value, but only you submit a request for a reassessment.
And why should anyone trust a realtor is beyond me. I bet Greg was laughing all the way to the bank with his 6% commissions on over priced houses. Hello pot, meet the kettle!
I'm a realestate agent in Boise Idaho. Prices crashing on houses in Idaho by 30%+. Crazy how many of my clients are underwater on their mortgage. They are trying to sell to move into other homes back in California.
@@elora2525 I'm from Colorado. Every summer the idiots would buy houses in the foothills. Flowers, hummingbirds, song birds chirping... like Eden. Then, out of the blue, a winter storm. Birds... GONE. Cold as a well-diggers rear end! Sometimes -20 or more. They would be stuck in the snow from time to time. As soon as the snow melted (JUNE) the for sale signs would go up... like clockwork. We would see them drive WEST back to Riverside as fast as they could. Idaho is getting a little taste of what Colorado has been dealing with for 30 years.
They had options...stay in California! But instead they came to Boise and bought overpriced and pushed out so many people. Zero sympathy for the realtors and buyers.
He makes his money buying and selling houses lol. As a buyer if you're so desperate that you're willing to pay hundreds of thousands over asking, waive inspections and not even stepping foot inside the property before buying it (as some were doing) then you really only have yourself to blame, sorry.
@@jonathantaylor6926 Divorce, bankruptcy, illness, inheritance, relocating for work, etc. does not care in the slightest about how low interest rates were in the year 20_ _ (fill in the blank).
if their home "value" would have doubled, they wouldn't have any remorse. Anyone with a bit of sense could have foreseen this crash....and lemme tell ya, we're just getting started. Prices can drop another 60%
They brought their big bag of free house equity money given to them by the Fed for doing absolutely nothing. Then they drove up Idaho prices so young Idaho families can't afford houses to raise their families. What an evil process.
It sounds like we are a bunch of evil minions shouting CRASH CRASH CRASH, but in defense of the poor buyers out here, that in 2019 you could buy a nice house in a safe neighborhood in my city for 500k, that same house in 2021 was listed for 700k but sold for 800k due to the bidding wars, so we worked our butts off for 20 years to buy a home and now suddenly homes are 50%-100% over inflated. We just want the prices to come down to something resembling rational. The hard working folks in my town cannot afford to pay 800k for a home. Everyone is saying, oh there is no way that we will ever see 2019 prices again but now homes are sitting for 30, 60, 100+ days. These homes are so overpriced. Sellers refuse to see reason. It is frustrating.
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I just feel bad for the native Idahoans who just wanted to live peacefully without the Californian and Oregan people screwing the market, now it's screwing those people deservingly.
I’m a 5th generation Idahoan and I remember when Idaho was seen as an awful and backwards place. Who would live in Idaho!?! I could never understand why people thought that, but now I wish they still did.
California transplants who moved to Idaho because they hated our liberal state should stay put. Nothing has changed in Cali and now they can’t afford to come back. Too bad so sad. 👋🏻
The only thing I wish for all these new people moving in that paid way over asking prices for their homes and properties........is that you end up having to sell it for a steep loss and end up upside down. Welcome to Idaho.
Realtors were telling people to just buy sight unseen. And to bid 30- 40,000 over asking price. It was common to hear people saying they would take whatever they could get. I couldn’t understand it… why would you buy at record high prices a home you aren’t in love with? Realtors got rich!! Everyone that overpaid and got a variable rate loan is SCREWED!!
Good. I'm glad. I'm not a vindictive guy, but the amount of lectures from buyers looking down their noses at everyone who was smart enough to wait it out was unbearable. Owners bragging about property values nonstop, making every get-together into a stupid contest about who pays the most for their house. Owners cutting off friendships with renters. People who were making $60k three years go buying second homes to rent out like they were some kind of geniuses in a market that would always go up. It was disgusting and I hope they all go bankrupt.
I remember watching an interview within a young couple who moved to Idaho...and weren't able to find a house that fits their budget and their concerns was even if they wait " the housing shortage" is going to be worst.....??? Was it really a housing shortage for the past two years??? I don't think so. The housing market was inflated by investors and real easte companies speculation.
@@kristinesharp6286 And other companies like Opendoor and American Homes 4 Rent. AH4R bought an entire neighborhood in Star to rent out homes and they started trickling into Boise after they got their hands on properties in Nampa and Meridian.
Like stocks people just bought due to other people buying houses and the low mortgage rates. you should always remove yourself from the noise and look for what is feasible in the long term.
I have little use or respect for most realtors. And this guy validates why. They always seem to operate in the grey area of honesty and integrity. Granted, there are a few honest professionals. During the good times when houses sell themselves, everybody wants to be a realtor. And now, like in 2008, many of them are looking for real jobs.
I've lived here for 40 years. This place is a zoo now. 3 story chicken coops being built everywhere. The fools paying crazy prices can enjoy their mistake. Boom town will go bust.
All of us smart folk recognized the broken market and are gonna steal the perfect house when the market bottoms over the next 2 years... I'm drooling 🤤
Same thing happened in 2011 when Suze Orman spoke in Minneapolis and asked about home buying regrets but that was due to home values crashing. 75% of the room stated they regretted buy a home during 2002-2008.
@@Rhaspun I was not renting but we bought our current home in 2002. The price jumped dramatically in a few years, then tanked to lower than what we paid a few years later. But… we put an appropriate amount down. The only trouble is if you need to move for work or family change and have to sell at a bad time. But if you live in the house and don’t have to move anytime soon the price of the house doesn’t matter. If we had to move we would not owe anything, might get something from it and have had lived rent free the entire time. They need to pull back so young people can get in the market. But I do think something fishy this time with all the buy your home schemes. Lots of mail to people not even interested in selling. Too many cash offers. It was meant to take supply off the table and drive up prices to make short term gain on the properties and it’s the people actually living in the neighborhoods that suffered. Now will someone figure out who or what out all the cash behind this scheme and figure out if there was a more evil intent to screw with the economy? If you only put 10% down a 30% pull back at the start of a 30 year, it is a big deal. If you put 20% down a 25% pull back is not really a big concern. First time buyers need a place to live. If even impacted the rentals.
No way in heck would I buy in an overpriced housing market like in the Boise metro area. IMO, it doesn't have what it takes to command the prices homes are selling for... not the job market nor the amenities. I'd like to move there but unfortuneately the cost isn't justified, even though I could afford it. I really feel bad for the locals who have been priced out of their own hometown.
The biggest reason people pay it is that Boise has incredible access to the outdoors. If you’re into outdoor recreation it’s really hard to beat. Millions of acres of uncrowded public lands out the front and back door. It’s still way overpriced. I’m a 5th generation Idahoan and thankfully bought my house in the late 90s for $80,000. I’ve watched my neighborhood turn into an enclave for rich people. I wish people would stop moving here, but I totally get why they do. It’s an outdoor paradise.
@@FullPsycho Good for the outdoors other than that all you can do is drink. When you go outside out Boise its pretty depressing and bland in cities like meridian and eagle. Twin falls is pretty ugly also. But the nature is defiantly beautiful
@@Nilbog-Hunter I respect that. It’s subjective though. I don’t drink and I’m not big on urban activities. I do the outdoors and then read, work on various things. Idaho works for me. I don’t really like any urban setting. All cities are bland to me. To each their own.
In life, always best to go against the herd. Buy when everyone is selling, sell when everyone is buying. It applies to everything in life/business/investments.
I bought my condo for 150k and my mortgage payment is the same as my rent was. I refused to get into bidding wars and set a limit for myself. I wouldnt pay more than 160k for something. Some people just don’t have self control it seems
@Crushing Housing Losses I highly doubt they are paying $2800-$3200 a month for a $150,000 mortgage. $1400-$1600 a month is the going rate for an average one bedroom apartment.
The homeowners were never told that we have entered the Great Bear Market in Real Estate, 2022-2032. We are in for 10 year home depression. The Bull market is gone and will return in 10 years. The interest rate blitz and affordability will crush the market.
@@rell660 Magnus Carlsen can play 15 moves into the future. Weathermen are getting pretty accurate at it too. I predict a Red Wave next Tuesday. I can't tell you what the next lottery numbers are, but I can predict there will be a drawing I will not win. I have a 1 in 300,000,000 chance of being wrong.
Agreed but the financially educated or those who are listening to those whom are educated. Will come out smiling in 2032 or sooner. People have to go back to work and currently they are not hungry enough to do so, and so the pendulum will swing.
I love these kind of wild buying frenzies, over paying, and then buyers remorse....and then realtors who pretty much have the attitude of: "Oh well, too bad so sad." Total entertainment!
As I'm in the housing industry I can confirm it was a bunch of Californian's, with their sold Cali home cash that caused the spike here. Also a lesser extent folks that sold from Washington and Oregon and moved here. 6 to 8 out of 10 plates on the cars in new homes where Cali plates. Idaho held the top most inflated housing market for like 2 years.
And if you see an Audi on the road it's more likely than not a Californian transplant. Audi's were never popular in Boise. Lexus' and Beamers were the "high brow" cars for well-off locals.
I watched the same thing happen in Orlando before the last crash. People acted insane - and not just the realtors. The buyers would act crazed to win an overpriced bid, the sellers got ridiculously greedy, and the agents were right in the middle, wide-eyed for those commission checks - I know, I was one of them. Leave room to hate on the lenders who push people into loans they can't afford. There's lots of blame to go around
I'm glad! I have nothing but contempt for the foolish, rich and greedy who priced homes into the stratosphere, and priced working people out of the market!
Some people may not but I have a friend that moved there a few years before the pandemic hit and she's really happy there. It's really just about knowing what you want.
Yep, he's happy because he sold all these people overpriced houses and now 2 years later gets to sell their slightly less overpriced houses and probably buy their next houses too. That's why he's so giggly. Not very often you get to collect 3 home commissions from one client in 2 years on houses that are worth literally double what they were 3-4 years ago.
So the guy allowed/encouraged his clients to do all the things that he’s telling new buyers to avoid. He’s helping the same people that he helped get screwed. 😂
I would never buy a house site unseen. Many real estate photos seemed to be doctored/enhanced. When I was looking to buy a house, there were many that looked very different in person. Either these buyers had a lot of money to blow or were not bright.
Idaho was going to be my first choice to retire to. However, after seeing housing prices double over an 18 month period and realizing that they did not have infrastructure to support an expanding population, I moved to another state. I found the rural mountain setting I wanted at 1/3 of the cost of Idaho. I am glad I didn't make the move there.
Correct me if I'm wrong, but doesn't your agent have a fiduciary responsibility. To guide you through the process and benefiting you during the transaction. And explaining the pitfalls of waving and inspection. And the potential risk of overbidding, for a property that may go down in value very quickly in case the markets change. And how nice of the news media report everything after the fact.
LOL I actually knew the answer to my own question. But it's too bad they don't. Because a year from now they will be hard pressed to see any business coming their way that even comes close to what they made in the past. And for that I do not feel sorry for them.
It's Idaho, the most deregulated state, and it doesn't help that the governments on all levels are realtors, property investors, developers themselves.
This realtor reminds me of a divorce lawyer I knew. Every time we drove by a wedding or heard someone was getting married he told me with a grin that they were his inventory to cash in $$$$ when the eventual divorce takes place.
Reminds me of the early eighties: the LAST house prices to go up were out in the hinterlands, but they were ALSO the first to start coming DOWN. That's the way it works. Spokane, Idaho, and various areas were the last to go up, and remember where you are. Next story surprise: TACOMA doesn't compare to Rodeo Drive in Beverly Hills.
@Dwight st. john: You're right about Tacoma. In 2020, I sold my home in Tacoma in one day and netted a healthy profit. Moved to North Texas where I bought a new home twice the size of what I sold and much cheaper....I have been happier ever since then!
Rates are so high right now... If you hurried and bought then don't hurry and sell, view your options. Realize you did get a good deal on your rate and that helps a lot
I still don't understand where all this money is coming from. I make quite a bit over the average American and Idaho salary and I can barely afford my home that I bought like 3-4 years ago. I'm in my 30s. The only thing I can think of is they are getting help from their parents or they are getting inheritance. If you don't have "old money" it's hard to live well anymore. Thanks inflation.
I have some co-workers who's families have condos up at Sun Valley. Explains a lot. Although I'm privileged to be born in the United States as we are probably top 10 percent in the world as far as standards of living....it still really is a birth lottery.
I think a lot built up equity in CA/NY and can sell their sardine can for 1.5 mil and then look at Boise and think 700k for a 3/2 on 1/4 acre is a steal.
I'm in my 30s and can't afford to buy. My friends with lots of equity had help from their parents to buy in the 2010's. They ACT like they did it on their own, however. That's how jerks are made.
The crazy thing is a lot of people wanted to max out their mortgages for this thinking that nothing could happen and now look at the inflation we're dealing with.
Home inspections for me have been a waste or time and money as they didn't catch any of the big issues. My last home purchase I found more issues myself by using an online guide and doing a full inspection myself. The bank still required an inspection so I used my own inspection to test what the inspector would come back with in his report. He missed all the problems and when I brought them up during our meeting he tried to back track and say he saw those issues but didn't think they were big enough to be of concern. Sadly I still had to pay his fee, but he was wrong as everything I found ended up being an issue in the first few years of owning the home. Luckily I had done my own inspection and used what I found to negotiate a lower selling cost. Had I just relied on the home inspector I would have overpaid 20-30k.
Have been trying to get out of Portland for 4 or 5 years now. What held me back was all the costs, low prospective inventory, and my huge equity and the resulting cap gains after 34 years if I sold. The realtors that appraised it never spoke of how much it would cost to move and buy again. Only when put on the spot. When I did the math, and educated myself on the process, did I realize the downside. The feeding frenzy is great for them because people get caught up in it and can easily make bad decisions. The realtors will NEVER tell you not to sell. Rarely not to buy.
But if you bought a house at 3% financing it's worth twice as much and it's going to take twice as much to get the same house again and who knows how far the interest rates are going to climb
This was 100% predictable. People never learn. Guarantee people will make the same mistake again, sometime in the future. History continously repeats itself and lessons are never learned.
The californians had no remorse pricing the locals out of the market. Soon, the locals will be laughing at the californians that lose their asses in the coming crash. I won't feel even a little bit sorry for them.
After telling his clients to pay over asking , and waive inspections - NOW he's so concerned about his prior clients. Typical real estate agent!
Yeah, this guy is a complete snake.
Ya they are just salesman...it's always a good time to sell and buy!!! Ha
He's a greedy a hole.
Yeah, he's right there to help them sell and buy a different house, now. Sleazeball tactics.
@@oletreed4230 Right about that. They only see $$$ in their eyes with no real interest in client/realtor relationship.
These buyers have ALWAYS had options. They didn’t have the patience.
Agreed
A fool and their money...
I'm waiting until prices come down closer to pre-pandemic levels. I only hope the government doesn't concoct some crazy intervention to elevate housing after stocks and bonds got crushed.
Thank you 👏🏾
Exactly
Here’s a statement that you’ll never hear from your realtor when your out looking at homes. “This is absolutely the worst time to buy a single-family home”.
There are a few honest ones, especially on RUclips, who say exactly that. But most don't.
Most are cockroaches.
Mine did say that.
@@elizabethblane201 Ken Pozek keeps it real
Yep they are chasing commissions nothing more
Realtor: "We sold you a house using FOMO a year ago; since you made a mistake with that one, we'll help you buy another house, at a much higher interest rate, even though you're underwater on the old house by 15%". Nice job!
Lol unreal isn't it. But hey why not get them to churn, they will make 3% on every sale....
@Darth Vader I was being conservative, but I know that you're right!
I doubt they are underwater yet but they may be soon.
@Darth Vader What city or area?
They helped them pay too much, now they are helping them again. Those realtors are so nice and honest!
Helping, as in helping themselves to yet more commissions.
These realtors are just true greedy Americans.
😂
😂🤣😂we gotta send them edible arrangements
The smiling and giggling is very telling coming from a realtor. He was definitely game when it came to waiving contingencies. “So we have a competitive offer”. Disgusting scammers.
I was thinking the same, why is this guy all smiles, while he’s discussing something as serious as home buying during a troubled economy…
He's a used car salesman at heart.
@@lorieabraham272 because he’s on tv and not everyone has the same reactions. Y’all making it seem like he personally scammed people. Did he force them to waive inspections? Uh, no.
He makes his money buying and selling houses lol. If as a buyer you're so desperate that you're willing to pay hundreds of thousands over asking, waive inspections and not even stepping foot inside the property before buying it, as some were doing, then you really only have yourself to blame, sorry.
The buyers need to be accountable. Can’t blame salesmen.
This guy is just giddy from all the commissions he makes off people's terrible decisions
That's cuz he's... A... f****** clown!!🤡
Right?! It's kind of scummy
AND guides them to the cliffs edge with a pen and a smile
and can't wait for people to sell at a loss and re-buy where he makes commission on both sales. Realtors shouldn't exist.
That’s sales 101 though
The greedy realtors and buyers should have remorse! I watched the greedy realtors brag about waiving inspections and how many inspectors or appraisers did this greed screw over? How many neighborhoods now are owned by Wall Street investors or Airbnb. Crash and burn baby and learn a hard lesson--blind greed is disgusting 😮
they did this during a once in a 100 yr pandemic stupid stupid oh my lord stupid
This guy was even laughing and smiling talking about how people waived those inspections and appraisals.
@@juanvelasq yeah that really irked me. This guy is laughing how he possibly screwed over his clients. Such a shame.
He's just another self centered bro capitalizing on taking advantage of people.
As a former home inspector I approve of this message! Most realtors are dirt bags that will say and do anything for a sale. Most the time the inspector they recommend is because they know they won't hurt their deal. I've witnessed a lot of bad realtors and home inspectors working the system.
I don't feel sorry... they helped fuel this situation
can't wait for them to lose these houses so i can pay a fair price...
@@stachowi Loser!
Actually blame the federal reserve.
@@pettsnjam Fed doesn't make you borrow, they enable it... it's ultimately the buyer's fault, they agreed to the debt and signed on the line.
@@stachowi yeah, but the Fed got us into a lot of worse situations than this. It's time we finally stop them.
He says all this while smiling and chuckling...I'm sure he was right there telling his clients to do all those things to buy buy buy!!!
Never take the advice from anyone over 25 with a faux-hawk haircut. Sure sign of douchebaggery.
100% and hope they can get a call when it defaults too!
Oh no, the real estate guy has a positive demeanor, this is undeniable proof of how awful he must be!
I have no empathy for the people who overbid, paid 100,000s over asking and are now having buyers remorse. They and their greed to acquire the house over the next guy brought us to where we are now in the housing market. I look forward to seeing the prices come back to earth, and sadly the foreclosures that will right size the real estate market again.
I get rent sucks but so does spending 100k over asking. People were just going on a band wagon.
Wait until they have to repair those overpaid homes. Cha-Ching… too bad. The repair people are going to over charge expecting you to over pay them as well.
@@popcorn8153 There were multiple factors going on at the time that created the perfect storm. COVID scared people out of their apartments and many were first time homebuyers inexperienced in doing their diligence. Remote workers assumed it would be the new normal and people who never had money thought they would be rich with all that stimulus money that they assumed would last forever. There's a lot of lessons to be learned from what happened but the average person has a short memory and refuses to learn history.
@@daveb2280 One of the biggest factors was also that the government bought 25% of homes on the market during quantitative tightening to boost the economy, WAY over-inflating prices.
Also, people knew interest rates were going to hugely rise to fight inflation, and multi-national corporations also purchased whole neighborhoods all over the U.S.
Actually, the stock market also created a ton of wealth that people used to borrow against to buy their homes, and are screwed now that they have an overpriced house and grossly diminished portfolio assets.
But those of us who saw this coming were called crazy
This reckless overpriced buying negatively affected a lot of native Idahoans. I'm not sad about the current predicament brought on by FOMO home purchases backfiring.
Right?! Literally EVERYONE we know is priced out or can’t even afford a 1bd rental making what used to be good money! The lives of so many young people in Idaho have been disrupted and put on hold thanks to Californians, greedy realtors and greedy investors. It’s truly sickening.
Well it made a lot of Native Idahoans rich.
@@bmo5082 No, no it did not. An average Idahoan just got kicked in the package with higher property taxes, overcrowded roads (often shut down to run utilities to new subs for CA's) and a decreased quality of education for kids.... amongst a litany of other things.
@@bmo5082 Money for doing nothing makes everyone poorer. That's why we have inflation now.
Boohoo Nobody put a gun to these idiots heads and forced them to buy a house. Stupid is as stupid does, life choices have life consequences. Can you say irresponsible. There is never a place for emotions or politics when conducting business period.
Id trust this guy as much as I would trust a used car salesman.
Scammers, the lot.
Remember this Realtors name and face when you are looking for experienced/honest representation in you next home purchase. Just remember his face.
There’s no such thing as an honest real estate salesman which is why they should never be elected to public office
@@vidguy007 💯💯💯💯💯💯. Those individuals are unfit to be leaders, unless a monarchy or dynasty is the governing body.
@@vidguy007 lets keep things equal they re ALL crooks living of commissions on your biggest purchase that savey ppl never should need to pay - salesmen and WOMEN
As a former home inspector all I can say is, there is a reason people have been getting home inspections for years. Can't tell you how many times I've got to a home to see minor cosmetic fixes to look nice but major issues with the home in vital parts of the home. Yeah it looks nice but how are it's components?
PEACE
LOVE
HONESTY
PROSPERITY
FREE THINKING
GOOD HEALTH
OPTIMISM
Spot on...the bones are much more important than the fluff and foofoo.
I’ll trust that you do a good job, but the two I’ve gotten have been a joke. Missed a major problem in my current house that I found first day we moved in.
@Senior Housing Analyst MEANS Inspection is extremely important over the surface details...geez, pretty dense not to get that one!
@Senior Housing Analyst Geez, friggin beyond dense. HERE IT IS FOR YOU: the above comment regards home inspection. It's a reply to the topic in this comment. If you can't get why a home inspection is important you shouldn't be buying a home.
If you ask a realtor ‘is today’s environment good for the buyer?’ The answer will ALWAYS be ‘it’s never been a better time to buy’
What a realtor told me “it’ll be more expensive, if you don’t buy now you’ll be paying more in a few months” I was talking to a few seeing what was in the market lol glad I didn’t buy
@@mr.puggin8384 just wait till you see the price of homes adjust to a 10% mortgage rate. Housing is always a lagging indicator.
@@ramonsanchez5175 won’t be surprised and with the buyer pool dwindling and more homes being built that’s when it’ll crash the system
Yes, unfortunately, this probably affected first time homebuyers. A realtor from Arizona told me to bid at least $40k over asking or get into bidding war; needless to say I thought it was ridiculous and decided to buy elsewhere.
I live on Cape Cod. House prices jumped from high 300s/mid 400s to 600/700,000. Not only that, but we saw bidding wars of 100/150,000 over the asking price. I honestly don't know how they'll sustain that high valuation.
This realtor is laughing about how he and the rest of the realtors up in that area fleeced all these people. He for sure told them to waive the inspection, offer way over. Realtors are why we are in the mess. Got people into a frenzy and it took off from there.
Yeah, that guy is a snake.
Realtors also lie about HOAs.
No, the fed is why we're in this mess. Realtors like this guy are just morally bankrupt opportunists
Not just realtors, but naive buyers and the whole industry FOMOed people into it. But who is the original sinner in this? Yes, the Fed, who supplied the money to all the drunken sailors, who spent it quickly and unwisely.
The ultimate responsibility is on the buyer. Stupid buyers = stupid problems. Not all relators are like that. That is a stereotype. And if yours is, it's on you to tell them what you don't like and get a new one. It's also on you to be responsible and take accountability for your actions. The realtor didn't sign your papers for you. Take out a mortgage if you oculdn't pay cash up front, etc. Losing money on a house? You knew it could happen when you bought a $500,000 house that would have been $225,000 5-10 years ago. $330,000 that would have been $175,000. $1 million that would have been $400,000. Simpville ain't fun.
People moved away from their work place as they could work remote. Now companies want workers back in the office 1-3 days a week. Difficult to do if work office in Denver, Los Angeles etc.
Not only that...many tech companies are laying off workers as they over-hired within the last 1-2 years. Those people who moved away and bought homes thinking they are sitting pretty and making money should now be feeling sick at their stomach as their job might go away. Remote employees are always the first ones to go. Then these people will mostly likely lose their homes and that will free up more housing inventory in the next year...
@@Islandboy1900 If you're truly wanting to be a remote worker year-round and you have any kind of of a halfway decent salary you don't even need a home and a 30-year mortgage that you're enslaved to. You could essentially live as if you have homes all over the world , renting Airbnb or doing short-term leases for a month or a few months at a time. Go where you're treated best and where the dollar is great again. There's places in the world where you can have much better life and better culture for way less money. This is the true freedom and beauty of being a remote worker
@@JJ38255 I think you missed the point....what Christian is saying is that we're only on the outskirts of a great recession, yet companies are already starting to fire remote workers. When the recession is full blown, remote work will not be an option. Living all over the world at any given time will require conventional methods of finance, such as shift work, gig work, inheritance, and/or retirement. Even in the poorest countries, one can't retire with less than 100k, and that's only IF they have little to no medical problems, purchase a house for dirt cheap, and don't plan on living past 80 years old.
@@we8608 you think like an employee
@@Mekkalekka nope.
Hope the realtors feel it too.
They got thier 3%
The realtors are feeling it, especially now that buyers are sitting on the sidelines. A lot of the realtors gave up steady paychecks in other fields to make “easy” money in real estate during the pandemic. Nope. The party’s over.
But watch, at the end of the next housing cycle, there’ll be a new generation of realtors doing it all over again.
one thing we know for sure, they will usually lie and ALWAYS look out for #1....themselves.
They cashed their checks a long time ago lol. The buyers have only themselves to blame.
It's the Realtors game, strike it while it's hot!
I'm happy that they're upset. They needlessly and recklessly increased the price of houses they didn't even like at the expense of others.
I don’t know why but I have yet to hear anyone mention that after you over pay for that house of your dreams that your taxes will also reset according to the newer and higher assessed value which means your property and school taxes will double or triple or worse the following year.
In Idaho, regardless of when you bought the house, it is assessed on current value. In California, due to Prop 13, it is based on the purchase price and goes up a restricted amount every year, regardless of how the property is worth. If the value drops below, it is reassessed for that value, but only you submit a request for a reassessment.
@@aviewer9516 when you buy a house the price you pay is the new value.
@@dougmartin7129 it is when you purchase it, but it goes down the next year or goes up the next year, depending on the price valuation at that time.
@@aviewer9516 no
Gentrification. I never understood it because California's property tax was based on the price at purchase. Now I get it.
And why should anyone trust a realtor is beyond me. I bet Greg was laughing all the way to the bank with his 6% commissions on over priced houses. Hello pot, meet the kettle!
Yup Some people didn’t learn a lesson from the housing crash back in 2008.
u cant fix stupid !
💯
I'm a realestate agent in Boise Idaho. Prices crashing on houses in Idaho by 30%+.
Crazy how many of my clients are underwater on their mortgage. They are trying to sell to move into other homes back in California.
Nice, great to hear!
Good
Once they leave California, it''s really hard to go back. As messed up as California is, the climate keeps demand (and prices) high.
Interesting how many Californians think Idaho was going to be nice. If you were not born there is not a great place. Is too cold
@@elora2525 I'm from Colorado. Every summer the idiots would buy houses in the foothills. Flowers, hummingbirds, song birds chirping... like Eden. Then, out of the blue, a winter storm. Birds... GONE. Cold as a well-diggers rear end! Sometimes -20 or more. They would be stuck in the snow from time to time. As soon as the snow melted (JUNE) the for sale signs would go up... like clockwork. We would see them drive WEST back to Riverside as fast as they could.
Idaho is getting a little taste of what Colorado has been dealing with for 30 years.
They had options...stay in California! But instead they came to Boise and bought overpriced and pushed out so many people. Zero sympathy for the realtors and buyers.
As a Californian. You are correct sir.
That guy has a huge smile on his face as he says all that while laughing. People chose them homes and payed 2 much and wrecked Idaho.
And real estate agents like this snake happily guided them how to overpay.
The people feeling buyers remorse only feel that way because the economy is tanking they didn’t give 2 sh*ts when they purchased.
People paid a million for houses on the bench that nearly pushed 100 years old
He knew what he was doing, screwed some and now laughing
He makes his money buying and selling houses lol. As a buyer if you're so desperate that you're willing to pay hundreds of thousands over asking, waive inspections and not even stepping foot inside the property before buying it (as some were doing) then you really only have yourself to blame, sorry.
A 50% reduction in Boise prices would only bring the market back to 2019 levels. Do you seriously think that’s the lowest it will go?? Lol
I betting on 2012 levels.
Who knows but I think DOW 5k is possible. Remember 2008???
But you could get 3.9% in 2019… so even if/when we get 2019 prices the monthly on those homes will be a lot more.
@Darth Vader Pretty amazing we've reached a point where a person could downsize and buy a significantly cheaper home…. but their payment would go up.
@@jonathantaylor6926 Divorce, bankruptcy, illness, inheritance, relocating for work, etc. does not care in the slightest about how low interest rates were in the year 20_ _ (fill in the blank).
Zillow purchased quite a bit of properties and now is stuck!
They sold a bunch to OpenDoor, who are unloading them. OpenDoor stock down by 90% YoY.
America… the illusion of wealth, and the reality of debt.
Slick-looking salesman there. He's got the nodding, smiling, giggling and gesturing down pat. I'll bet he used to sell used cars.
And will right back out to the lot or delivering pizzas soon!
Why us he smiling while talking about this loss?
Because he made off like a bandit with all the stupid peoples money.
My thoughts exactly, and that he seems so smug saying it.
Got his commission and could care less
He's got Stoner eyes with the big bags under them...
Sociopath behavior.
if their home "value" would have doubled, they wouldn't have any remorse. Anyone with a bit of sense could have foreseen this crash....and lemme tell ya, we're just getting started. Prices can drop another 60%
People who make hasty, poor decisions are always looking to blame someone else.
they should move back to California
They probably can't afford to.
They brought their big bag of free house equity money given to them by the Fed for doing absolutely nothing. Then they drove up Idaho prices so young Idaho families can't afford houses to raise their families. What an evil process.
@@stuartclubb4302 you're not wrong
Most of them moved to getaway from commiefornia and have embraced Idaho.
@@rons5319 same thing in TX and they don’t care lol
It sounds like we are a bunch of evil minions shouting CRASH CRASH CRASH, but in defense of the poor buyers out here, that in 2019 you could buy a nice house in a safe neighborhood in my city for 500k, that same house in 2021 was listed for 700k but sold for 800k due to the bidding wars, so we worked our butts off for 20 years to buy a home and now suddenly homes are 50%-100% over inflated. We just want the prices to come down to something resembling rational. The hard working folks in my town cannot afford to pay 800k for a home. Everyone is saying, oh there is no way that we will ever see 2019 prices again but now homes are sitting for 30, 60, 100+ days. These homes are so overpriced. Sellers refuse to see reason. It is frustrating.
You’re right! The current market is very tough on the housing market as well as the financial markets! Although it might give opportunities to maximize profit within a short term, but in order to achieve this, you must be a professional.
I'm sure the idea of a coach might sound controversial, but new study by investopedia found that demand for portfolio-coaches sky-rocketed by over 41.8% since the pandemic, and based on firsthand encounter I can say for certain that it's a good idea, I've raised over 400k from an initially stagnant reserve of 150K, all within 14months
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Stage 1 of a bubble burst: Fear.
Exactly.
I witnessed it in 2001 and again in 2009.
We are in stage 2 already
I just feel bad for the native Idahoans who just wanted to live peacefully without the Californian and Oregan people screwing the market, now it's screwing those people deservingly.
I’m a 5th generation Idahoan and I remember when Idaho was seen as an awful and backwards place. Who would live in Idaho!?! I could never understand why people thought that, but now I wish they still did.
California transplants who moved to Idaho because they hated our liberal state should stay put. Nothing has changed in Cali and now they can’t afford to come back. Too bad so sad. 👋🏻
The only thing I wish for all these new people moving in that paid way over asking prices for their homes and properties........is that you end up having to sell it for a steep loss and end up upside down. Welcome to Idaho.
Ah, yes Idaho, where men are men and sheep run scared .... boogity, boogity ...
@@rickrussell6188 You re welcome to come here and find out if that is true.
@@tonegriffey9463 A little to close to home it appeears, boogity, boogity... Hunting season guy..run sheep run...
@@tonegriffey9463 I'll watch safely from the fence line thank you very much...
Investors, Airbnbs, and greed inflated the market
Realtors were telling people to just buy sight unseen. And to bid 30- 40,000 over asking price. It was common to hear people saying they would take whatever they could get. I couldn’t understand it… why would you buy at record high prices a home you aren’t in love with? Realtors got rich!! Everyone that overpaid and got a variable rate loan is SCREWED!!
Investors got rich
Good. I'm glad. I'm not a vindictive guy, but the amount of lectures from buyers looking down their noses at everyone who was smart enough to wait it out was unbearable. Owners bragging about property values nonstop, making every get-together into a stupid contest about who pays the most for their house. Owners cutting off friendships with renters. People who were making $60k three years go buying second homes to rent out like they were some kind of geniuses in a market that would always go up. It was disgusting and I hope they all go bankrupt.
I'm crying a river for them,,
I remember watching an interview within a young couple who moved to Idaho...and weren't able to find a house that fits their budget and their concerns was even if they wait " the housing shortage" is going to be worst.....???
Was it really a housing shortage for the past two years???
I don't think so. The housing market was inflated by investors and real easte companies speculation.
I think a big chunk of the money was foreign and meant to make mischief not just money. Partly Zillow introduced this problem.
@@kristinesharp6286 And other companies like Opendoor and American Homes 4 Rent. AH4R bought an entire neighborhood in Star to rent out homes and they started trickling into Boise after they got their hands on properties in Nampa and Meridian.
Like stocks people just bought due to other people buying houses and the low mortgage rates. you should always remove yourself from the noise and look for what is feasible in the long term.
100%. I got a lot of flak for it, but I don't regret sitting that one out.
I have little use or respect for most realtors. And this guy validates why. They always seem to operate in the grey area of honesty and integrity. Granted, there are a few honest professionals. During the good times when houses sell themselves, everybody wants to be a realtor. And now, like in 2008, many of them are looking for real jobs.
It's so entertaining. I'd feel bad for them if they didn't act like they were the smartest people in the room for the last 8 years.
I've lived here for 40 years. This place is a zoo now. 3 story chicken coops being built everywhere. The fools paying crazy prices can enjoy their mistake. Boom town will go bust.
Yep been watching LA sewage seep into ID for nearly 25 myself ...
Patience is a virtue. Never trust someone working for commission.
Aren't these the same people (including media) that were fanning the flame?
yep
you can tell he's giddy as f#@* since he raked his clients over the coals himself; these agents are like used car salesman!
Sounds like the early 2000s
All of us smart folk recognized the broken market and are gonna steal the perfect house when the market bottoms over the next 2 years... I'm drooling 🤤
Anyone who thought these prices would continue to go exponentially is a clown who deserved to lose their money.
There is always options. And sadly too many people choose poor options for themselves. And then they think I should feel sorry for them.
Same thing happened in 2011 when Suze Orman spoke in Minneapolis and asked about home buying regrets but that was due to home values crashing. 75% of the room stated they regretted buy a home during 2002-2008.
I bought in 2003. I have no regrets since I bought my house to live in. Either I was going to continue with renting or make house payments.
@@Rhaspun I was not renting but we bought our current home in 2002. The price jumped dramatically in a few years, then tanked to lower than what we paid a few years later. But… we put an appropriate amount down. The only trouble is if you need to move for work or family change and have to sell at a bad time. But if you live in the house and don’t have to move anytime soon the price of the house doesn’t matter. If we had to move we would not owe anything, might get something from it and have had lived rent free the entire time. They need to pull back so young people can get in the market. But I do think something fishy this time with all the buy your home schemes. Lots of mail to people not even interested in selling. Too many cash offers. It was meant to take supply off the table and drive up prices to make short term gain on the properties and it’s the people actually living in the neighborhoods that suffered. Now will someone figure out who or what out all the cash behind this scheme and figure out if there was a more evil intent to screw with the economy? If you only put 10% down a 30% pull back at the start of a 30 year, it is a big deal. If you put 20% down a 25% pull back is not really a big concern. First time buyers need a place to live. If even impacted the rentals.
No way in heck would I buy in an overpriced housing market like in the Boise metro area. IMO, it doesn't have what it takes to command the prices homes are selling for... not the job market nor the amenities. I'd like to move there but unfortuneately the cost isn't justified, even though I could afford it. I really feel bad for the locals who have been priced out of their own hometown.
The biggest reason people pay it is that Boise has incredible access to the outdoors. If you’re into outdoor recreation it’s really hard to beat. Millions of acres of uncrowded public lands out the front and back door. It’s still way overpriced. I’m a 5th generation Idahoan and thankfully bought my house in the late 90s for $80,000. I’ve watched my neighborhood turn into an enclave for rich people. I wish people would stop moving here, but I totally get why they do. It’s an outdoor paradise.
@@FullPsycho Good for the outdoors other than that all you can do is drink. When you go outside out Boise its pretty depressing and bland in cities like meridian and eagle. Twin falls is pretty ugly also. But the nature is defiantly beautiful
@@Nilbog-Hunter I respect that. It’s subjective though. I don’t drink and I’m not big on urban activities. I do the outdoors and then read, work on various things. Idaho works for me. I don’t really like any urban setting. All cities are bland to me. To each their own.
Shady cares more bout his money then helping a family
In life, always best to go against the herd. Buy when everyone is selling, sell when everyone is buying. It applies to everything in life/business/investments.
Exactly.
Agreed
The realtor comes across as a fake.
I bought my condo for 150k and my mortgage payment is the same as my rent was. I refused to get into bidding wars and set a limit for myself. I wouldnt pay more than 160k for something. Some people just don’t have self control it seems
@Crushing Housing Losses You cant read
Whelp some folks fold when jabbed in the back with a commissioned rep's stick in their back -
@Crushing Housing Losses I highly doubt they are paying $2800-$3200 a month for a $150,000 mortgage. $1400-$1600 a month is the going rate for an average one bedroom apartment.
Doesn't anyone remember 2008 ????
Yeah, guess it slipped their mind - commissioned grifter gonna grift ... clearly zfg
The homeowners were never told that we have entered the Great Bear Market in Real Estate, 2022-2032. We are in for 10 year home depression. The Bull market is gone and will return in 10 years. The interest rate blitz and affordability will crush the market.
Bla bla bla no one knows the future.
@@rell660 Magnus Carlsen can play 15 moves into the future. Weathermen are getting pretty accurate at it too. I predict a Red Wave next Tuesday. I can't tell you what the next lottery numbers are, but I can predict there will be a drawing I will not win. I have a 1 in 300,000,000 chance of being wrong.
@@davidcooke8005 patterns people are good at seeing patterns when they want to
CSS x s
Agreed but the financially educated or those who are listening to those whom are educated. Will come out smiling in 2032 or sooner.
People have to go back to work and currently they are not hungry enough to do so, and so the pendulum will swing.
Rent is still unaffordable and wages are still too low in comparison.
Especially for the properties who are asking people to earn 3 times the monthly rent in salary. Studio apartments shouldn't require a $30/hr job.
I love these kind of wild buying frenzies, over paying, and then buyers remorse....and then realtors who pretty much have the attitude of: "Oh well, too bad so sad." Total entertainment!
As I'm in the housing industry I can confirm it was a bunch of Californian's, with their sold Cali home cash that caused the spike here. Also a lesser extent folks that sold from Washington and Oregon and moved here. 6 to 8 out of 10 plates on the cars in new homes where Cali plates. Idaho held the top most inflated housing market for like 2 years.
And if you see an Audi on the road it's more likely than not a Californian transplant. Audi's were never popular in Boise. Lexus' and Beamers were the "high brow" cars for well-off locals.
I watched the same thing happen in Orlando before the last crash. People acted insane - and not just the realtors. The buyers would act crazed to win an overpriced bid, the sellers got ridiculously greedy, and the agents were right in the middle, wide-eyed for those commission checks - I know, I was one of them.
Leave room to hate on the lenders who push people into loans they can't afford.
There's lots of blame to go around
Have a great day!!
They signed the contract and now they gotta pay the piper. These heros are going to enable a very bright future to those who waited patiently.
No worries he will just sell it again for yet another commission
Must be all them Californians. They’re more than welcome to head back
PEACE
LOVE
HONESTY
PROSPERITY
FREE THINKING
GOOD HEALTH
KINDNESS
OPTIMISM
I'm glad! I have nothing but contempt for the foolish, rich and greedy who priced homes into the stratosphere, and priced working people out of the market!
It's one scam after the next in America.
Wherever Californian goes problem follows. Stupid is stupid does. Housing market was inflated by at least 80% in Idaho. Abolish FED!
They get what they deserve with interest.
so now we will go through a period where homebuyers are upside down and that will cause a lot of problems such as foreclosures, etc
Just buy a home and stay and pay it off.
"If you don't buy this house now. I won't be able to afford to pay off my ski condo in Jackson hole before the end of the year."
They're lying to themselves if they even thought for a split second they'd be happy in Boise. It was their last and only resort. What a way to go.
Why?
😂. My thoughts exactly.
Some people may not but I have a friend that moved there a few years before the pandemic hit and she's really happy there. It's really just about knowing what you want.
Lol buddy your Orange County or LA home value is going to fall off a cliff way worse than Boise
@@herschel7643 oh nah bro. I don't pay taxes. I'm 100% free. Nothing and no one owns me.
Why did marriage come to mind when homegirl was talking about buyer's remorse?
Greg is a little to happy about people losing hundreds of thousands of dollars. I can see the dollars signs in his bank account through his smile.👺
Yep, he's happy because he sold all these people overpriced houses and now 2 years later gets to sell their slightly less overpriced houses and probably buy their next houses too. That's why he's so giggly. Not very often you get to collect 3 home commissions from one client in 2 years on houses that are worth literally double what they were 3-4 years ago.
It's called justice.
These buyers priced out locals when they helped to create this massive bubble
So the guy allowed/encouraged his clients to do all the things that he’s telling new buyers to avoid. He’s helping the same people that he helped get screwed. 😂
Gotta get that commission again from those same buyers 😂💀
I would never buy a house site unseen. Many real estate photos seemed to be doctored/enhanced. When I was looking to buy a house, there were many that looked very different in person. Either these buyers had a lot of money to blow or were not bright.
Sure , disgruntled Buyers are now willing to give up a less than 4% IR on their current Home . For one nearing 71/2 % ? I kind of doubt it .
Idaho was going to be my first choice to retire to. However, after seeing housing prices double over an 18 month period and realizing that they did not have infrastructure to support an expanding population, I moved to another state. I found the rural mountain setting I wanted at 1/3 of the cost of Idaho. I am glad I didn't make the move there.
where?
South Dakota?
@@-._.-KRiS-._.- No. I moved to the East Coast area.
Correct me if I'm wrong, but doesn't your agent have a fiduciary responsibility. To guide you through the process and benefiting you during the transaction. And explaining the pitfalls of waving and inspection. And the potential risk of overbidding, for a property that may go down in value very quickly in case the markets change. And how nice of the news media report everything after the fact.
LOL I actually knew the answer to my own question. But it's too bad they don't. Because a year from now they will be hard pressed to see any business coming their way that even comes close to what they made in the past. And for that I do not feel sorry for them.
It's Idaho, the most deregulated state, and it doesn't help that the governments on all levels are realtors, property investors, developers themselves.
This realtor reminds me of a divorce lawyer I knew. Every time we drove by a wedding or heard someone was getting married he told me with a grin that they were his inventory to cash in $$$$ when the eventual divorce takes place.
Reminds me of the early eighties: the LAST house prices to go up were out in the hinterlands, but they were ALSO the first to start coming DOWN. That's the way it works. Spokane, Idaho, and various areas were the last to go up, and remember where you are. Next story surprise: TACOMA doesn't compare to Rodeo Drive in Beverly Hills.
Bought in 1984 @ 14% interest.
Still have it in nyc.
@Dwight st. john: You're right about Tacoma. In 2020, I sold my home in Tacoma in one day and netted a healthy profit. Moved to North Texas where I bought a new home twice the size of what I sold and much cheaper....I have been happier ever since then!
Rates are so high right now... If you hurried and bought then don't hurry and sell, view your options. Realize you did get a good deal on your rate and that helps a lot
I still don't understand where all this money is coming from. I make quite a bit over the average American and Idaho salary and I can barely afford my home that I bought like 3-4 years ago. I'm in my 30s. The only thing I can think of is they are getting help from their parents or they are getting inheritance. If you don't have "old money" it's hard to live well anymore. Thanks inflation.
I have some co-workers who's families have condos up at Sun Valley. Explains a lot. Although I'm privileged to be born in the United States as we are probably top 10 percent in the world as far as standards of living....it still really is a birth lottery.
I think a lot built up equity in CA/NY and can sell their sardine can for 1.5 mil and then look at Boise and think 700k for a 3/2 on 1/4 acre is a steal.
That's the ONLY thing you can think of?
Have you tried maybe....asking them?
I'm in my 30s and can't afford to buy. My friends with lots of equity had help from their parents to buy in the 2010's. They ACT like they did it on their own, however. That's how jerks are made.
@@jjberg83 birth lottery my friend.
This is just the beginning, wait until the value starts to drop.
Why have the people from California and Washington, stopped coming to Idaho?
Realtors will gladly help you transition into a different house, and they will gladly take another commission from you in the process.
The crazy thing is a lot of people wanted to max out their mortgages for this thinking that nothing could happen and now look at the inflation we're dealing with.
The glee with which this guy describes people waiving inspections is disgusting.
Home inspections for me have been a waste or time and money as they didn't catch any of the big issues. My last home purchase I found more issues myself by using an online guide and doing a full inspection myself. The bank still required an inspection so I used my own inspection to test what the inspector would come back with in his report. He missed all the problems and when I brought them up during our meeting he tried to back track and say he saw those issues but didn't think they were big enough to be of concern. Sadly I still had to pay his fee, but he was wrong as everything I found ended up being an issue in the first few years of owning the home. Luckily I had done my own inspection and used what I found to negotiate a lower selling cost. Had I just relied on the home inspector I would have overpaid 20-30k.
get an INTERNACHI inspector, they have an association and rules at least.
I bought a new home and still did an inspection. never pass up an inspection the cost is well worth it.
Have been trying to get out of Portland for 4 or 5 years now. What held me back was all the costs, low prospective inventory, and my huge equity and the resulting cap gains after 34 years if I sold. The realtors that appraised it never spoke of how much it would cost to move and buy again. Only when put on the spot. When I did the math, and educated myself on the process, did I realize the downside. The feeding frenzy is great for them because people get caught up in it and can easily make bad decisions. The realtors will NEVER tell you not to sell. Rarely not to buy.
Prices must return to pre-pandemic levels.
But if you bought a house at 3% financing it's worth twice as much and it's going to take twice as much to get the same house again and who knows how far the interest rates are going to climb
This was 100% predictable. People never learn. Guarantee people will make the same mistake again, sometime in the future. History continously repeats itself and lessons are never learned.
Let em burn...
The californians had no remorse pricing the locals out of the market. Soon, the locals will be laughing at the californians that lose their asses in the coming crash. I won't feel even a little bit sorry for them.
Greed isn't always profitable, is it?
And the creep is laughing? Run away from him.