Hi! I found this text interesting. Predictions of a Russian seer made on February 27, 2022 in the village of Plenitsino. Question: What is Putin up to in Ukraine? Answer: This is his most important and last mission, for which he came to this world. Question: Mission? Answer: Yes. Answer: And what is it? Question: Change this world. Question: Why? Answer: The time has come. Question: Why Putin? Answer: They chose it themselves (he pointed up with his hand). Question: Explain? Answer: Higher powers. Question: And who are they? Answer: In Tuva. Question: Why there? Answer: They probably determined the location themselves… Question: And who are the intermediaries? Answer: There are two of them. The strongest shaman of the planet and a lama from Tibet. Question: What are they talking about? Answer: I can't know that. Recently, the transition from the dark age of Pisces to the light age of Aquarius has begun on earth. This is one of the cosmic cycles that lasts for several millennia. The earthly civilization is moving to a new spiritual level, in short… Russia is under the patronage of Aquarius. This country will rule for the next millennia… But it won't happen suddenly. Every year there is an acceleration. Everything will change… Question: Of course, this is all interesting, but what does Ukraine have to do with it? Answer: This is her sacred mission. Ukraine will sacrifice itself for the sake of millions of lives on the whole planet. Question: I'm sorry, I don't understand why Ukraine? Answer: Ukrainians are Russians with a changed mentality. The forces of evil have been actively decomposing them for the last 30 years… And they succeeded. Question: And who are the "forces of evil"? Answer: Western civilization. Question: It turns out that Putin has declared war on the West? Answer: No. Putin was forced to accept the challenge… It was the West that declared war on Russia in 14. The West organized a coup in Ukraine and allowed the genocide of Russians in the Donbas. Putin tried for 8 years to settle the conflict in the Donbas, Minsk-1 Minsk-2... But he was deceived. Question: Why did Putin announce a special operation on February 24, 2022? Answer: Ukraine has concentrated 170 thousand troops on the border with Donbass and planned an offensive on February 25. Putin understood that Donbass would not stand, hundreds of thousands of people would die... He knew about this in advance, so back in December 21, he put forward an ultimatum to the United States and NATO on security guarantees. The West deliberately chose the path of war, but with the hands of Ukrainians. Question: Why does the West need a war? Answer: This is a dying civilization. The total debt of the USA is 170 trillion dollars, the EU 12 trillion euros. Throughout their history, they have lived at the expense of colonies and wars… Question: It turns out that Putin had no choice but to answer… Answer: Yes. But he was not ready for such a war… Question: What kind of "such a war"? Answer: Fratricidal war. Putin does not yet know how hard this war is being given to him… This is not Crimea, where millions of people gladly accepted the Russian world. It will be a protracted war… The whole world will blindly take the side of Ukraine. This is not a war for Ukraine, but for the global world order! Question: And who will win? Answer: Russia. In the future, Ukrainians will find out the truth and curse America. There will be no such state anymore. Question: When will the war end? Answer: In a year and a half. Question: What about Western civilization, what will happen to it? Answer: It will self-destruct. Irreversible processes are running... Europe will fall first, followed by America. Catastrophic events will occur... Nature itself will punish them. Question: What will happen to Russia? Answer: It will slowly begin to revive, by the age of 35 it will become the strongest and most attractive country to live in… Question: Will there be a war with China? Answer: No. China is expecting a "Great Depression". Question: Will Putin remain president after 2024? Answer: No. Question: Who will become the new president of Russia? Answer: There are already three candidates, one of them is a woman. Who exactly - I have no right to say. Question: Who will be president in the USA? Answer: Trump. But not for a full term. Question: Last question… How do you know all this? Answer: Everything I see is forbidden to voice, but what I have already said, you will be able to check in the near future.
4 years ago my wife said we should wait a year to buy because she read and heard the real estate market was going to crash. I convinced her to look at homes without intent to buy (wink wink). We found a house for $270k 3b 2.5ba around 1600sqft. We put an offer for $257k it got accepted and purchased our first home. 4 years later house has appreciated to around $380k. My wife thanks me all the time now 🤣🤣🤣.
It’s really different now. We are in bad inflation and maybe depression in the future. Anyway yes 2018-2019 was the best time to buy a house! My sister bought in Jan 2019 now her home is wow!!! Congratulations!!!
The housing market crash is not going to mean more people might be able to afford houses. It's going to mean further monopolization of house ownership under corporate investors.
I began investing in REITs late 2019 and I've accrued enough profits in a year to buy rental units and parking lots, and I'm still investing in my real estate properties which brings in roughly $500k annually
@@MHousley Indeed the real estates market is a money faucet, Having just paid off my mortgage and the process having some residual cash, How can I do the same with £75k?
Don't wait until the market skyrocket again then you start biting your fingers wishing you made the decision to invest, bought my third house already, earn on a monthly through passive income and got 4 out of 5 goals. Just hope it
@@eddieparker4529 Well if there’s one thing I have learned from the past years, is top experts will always find the best way to generate you profits either from a crash or rise in the markets. Since the pandemic till now I am still mind blown with my profits outcomes from imploring aid from one
We need to revisit this in 18mos... thank you Mr curly hair dream crusher, for being brutally honest! Seriously, you are the most entertaining, enthusiastic, informative, TH-cam realtor and I appreciate your videos! Ima cry now 😢
Well, as a single mother with one salary and how expensive everything is now is impossible to live within the 35% of my income. It is impossible to have 3 months of savings. This market continues to be very discouraging specially when the rents are so high now. 😔 Thank you for always been so honest and keep us informed. 🙏
I agree. I'm recently separated with 3 children, one just started college this fall. If it wasn't for a accident settlement I received I would still be homeless or stuck in a marriage with a drug addict abusive husband. Now I work 2 jobs to just survive and save very little until something unexpected happens and wipes that away. I've came so close to going back to my toxic marriage just to have somewhere to call home.
@@bridgettavelar2024 Hi Bridgett. No matter how bad your financial position becomes, don’t go back to that relationship. My mother had done the same and it only makes your mental state worse. Pray, find a pro bono financial consultant, and everything will get better with time : )
I'm in the same situation. Single mother living off a decent income, but still struggle to afford my $3100 rent 😤. Really want to buy, but it feels damn near impossible. Impossible to rent too. It sucks.
it's all about information and strategy application, I've seen folks make huge 7figure profit in a crashing market and pull it off much easily in a bull market Unequivocally the crash/recession is getting somebody somewhere rich...
On occasion you can beat the market with blind luck, but I wouldn't depend on it. Having a science background there is a saying, 'Luck favors the informed', I've found it to be true, allowed me in great part to retire early
@@glenbert1396 Well politicians for certain are gaining off the crash, and true the average individual could profit off a crash but such high-grade investing come with equal risk which can only be managed by a proper pro or expert…
@@louisairvin3052 Yes, the idea of a portfolio-coach used to sound generic, but new study by investopedia actually 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 their skillets are topnotch…I’ve raised over $1.3m from an initially stagnant reserve of $180K in less than Two Years..
@@Steyne968 I've actually been thinking of reaching a portfolio-adviser, my 401k and stocks been losing everything it's gained since 2019, mind if I looked-up this one coach you use?
Another consideration is that because prices and rates are high there is much less competition which allows people to actually buy their ideal homes instead of settling for any house they can get their hands on
Correction, never ask a BAD realtor advice about buying a house. I learned in my first time home buyer class to interview several agents before making a selection. In my personal experience, all of the agents that my husband and I interviewed (except for 1) were honest about the market and the overall home buying experience. Choose an agent that does not NEED to sell a home right away. If they will work with you for as long as it takes for you to find a home that one indicator. Realtors that do not have reserves, or strong consistent history of selling homes serveral homes (at varying prices points) and/or other steams of income likely need money quickly so they will pressure you to buy now and if you don't will move on to the next client. Also, some areas are a buyers market and others are still really hot are still a sellers market which is why it's very important to have a strong knowledge of the market where you plan to purchase (your agent should also). However, overall we are currently in a BALANCED maket.
I have a baby due in January, and a gifted inheritance sometime this year and again next year. Hopefully everything works out perfectly and can get a house by the time my daughter is born!
I bought at listing but was able to get closing costs paid. I’m ok with watching prices dip, instead of sitting in this apartment paying over 2k a month for half the square footage and no back yard, with a kid and two dogs who desperately want to be outside. Plus I have two houses I rent out that supplement my income. I consider myself a case where it made sense.
We bought in May. I think some people probably think we’re dumb, but we were in that first category where we had a huge need. You try living in a 900 sq ft 1 bath condo for years with 2 kids & you might change your perspective. 😂 It was also falling apart. We’d been saving & planning it for a long time, yes it sucks that things went crazy after 2020 & we ended up moving an hour away. But what are you going to do. I’m just glad that we have a home now & we’re prepared to be here for a long time.
The 3-6 month reserve is quite difficult considering rent prices right now. We are buying bc our mortgage will be significantly lower than our rent has been. Buying is a necessity for a lot of folks right now
Comparing Mortgage and rent is like comparing apples to oranges. You also need to factor in insurance, taxes and maintenance. People were buying houses above appraisal value without factoring in deferred maintenance. Be very careful with your analysis.
Fk a 3-6 month reserve I hate when people say that unreasonable ass sh*t which is for most people unreasonable You didnt get a 3-6 month reserve for your apartment or new car why would you stress over that with a house Most people dont have that and it doesnt make or break anything if your smart with your money
@BavarianRev yes, you're so right! We never thought about the lawn care,/landscaping prices! Also, never thought about paying people to installight fixtures, small electrical jobs, etc
@@thomasreedy4751 while this is true you have to factor in those expenses. I also agree with the original comment. For myself, I need a 2 bedroom/ 2 bath either townhouse/condo or home. In my area apartments and houses are running 3000-3800 for just that. A house in a city outside of me 2 bed / 2 bath is around 2600. If I chose the home outside of my city I still will have money for all the other expenses that come with a home as if I were to rent my 3200 would be going to just rent. I went to visit a townhouse and the rent was sky high because she needed the solar panels being paid, the HOA fees etc. I would of been paying that…. Why not have my own? Yes it’s important to know it’s not just mortgage. But many of us renters are paying SKY high rent. By the time I get done bidding on a place and paying 6 months rent in advance (because that’s what’s happening on the market right now) and a deposit JUST to get a place to rent why not put that money into my own house???
You missed one (kinda). 4. You have a long term outlook on owning a home. For example, people buying 1 bedroom condos even though they may be getting married in a year or two and may have a need to move up to a larger place. Maybe buying that 1 bedroom isn't a good idea as you may not be able to get out of it. Or maybe you are not quite settled in your job or career and might need to relocate for a different job. If you can't hold a home for at least five years, it probably isn't a good move right now.
I'm closing on my first home on 9/9. I've been wanting to buy for about 4 years but never felt confident enough to go for it. I found an amazing real estate agent who found me the perfect house below my budget and things just fell into place. So it was years of planning and saving with a lot of luck.
Hate to rain on your parade, but if you wait 12/18 months, you will probably get way more for what your budget is currently. If not, I hope you are happy with your new home and plan to stay there for awhile :)
I appreciate your honesty. Your information saved me from buying a few months ago. We have a one year lease and are just biding our time. We’ll start shopping next spring and look to benefit from the failure of someone else’s greed.
First time watching one of your videos. Instantly sold. The information, humor and editing won me over immediately. Well done sir, we’ll done. I couldn’t click the thumbs up and subscribe button fast enough.
Despite what other people say, thank you for your honest input because I was going to fall into that category of people buying a home without a strong reason why. I'm merely buying because I'm tired of paying rent.
The fact that Americans look at houses as investments is a major aggravating factor on unaffordability. Most other places in the world view their home as a basic necessity versus a way to build wealth.
Places like EU/AUS take half of your income so of course most things fall into the "necessity" bucket and if there is anything left it's probably so little that you might as well make it Play money.
It's always a great time to buy!! If you can and are in a position to do so do it! Start building equity. Homeownership is better than renting. Let's go!! 🔥🔥🔥
I think Realtors who are honest and don’t pressure or push or try to sway will always succeed long term. Now let’s all go for tacos and salty margaritas 😂
Yes because when the time comes where it’s the time to buy, those people will come back to the realtor who gave them good advice to NOT BUY. It’s like a mechanic saying your car is good you don’t need anything done. When something finally does go wrong, you go back to them.
The only agent in our market that has come clean. I've been putting out these videos saying buyers should wait to buy and getting some nasty agent remarks on FB. Almost 19 years as a mortgage broker I've seen this before. Since then we've seen a 10% decline and those agents are nowhere to be found 😆
Great points, Javier. #1 Urgent Need for us would equate to my aging mother needing additional care. We're going to try to wait until the spring to look for a home with an additional room. Thank you for your honest thoughts and review! Love the channel. ❤️
I will probably set this one out for a at least the next few months to a year. I’ll still shop around, unless I find a good deal on a home. I’m not giving up too easily. Thanks for the info!
I'm in the market for a house right now due to high rent and a growing family. I'm only willing to pay appraisal value. More specifically, my bank is only going to write a check for appraisal value, so we'll see how this goes😁.
Actually sellers right now are getting more agreeable to concessions and being realistic about their price. I am purchasing one and I looked for a house that Had been on the market for about three months and the sellers were taking any offers. I didn’t wanna gouge people, but their house was on the market because they had been so overpriced. I was able to get what I think is a fair deal and frankly I’m only paying about $400 more a month than I would for an apartment rental.
I really like this guy! Finally I found someone who has the same logic as mine. A realtor with good brain (and honest) is hard to find. Thumbs up 👍 big time!
I bought a house last month. In the time from offer accepted to closing things shifted a lot. We can still afford it because we planned for the worst but there was definitely a shift from Spring-now.
The reasons I'm considering buying right now: Prices are going down and I can get the seller to pay closing costs.... which will be used to buy down the rate. The rate will eventually go down being that it hasn't been this high for like 15 years. Drive the price down from the seller, get closing costs, drive down the interest rate, get an ARM and sell it after 5 years or refinance.
We just bought a house and had enough for a down payment. Even though it was a brand new home we had to spend a ton of money to furnish and fix up the house. Pest control, rain gutters, etc… it all adds up. We spent $15k in the first two months and that doesn’t include mortgage, taxes and utilities. Don’t buy unless you have that money ready.
@@johnnywang206doesn't surprise me at all. Whether you buy new or old doesn't matter. There's a huge skilled labour shortage so any new builds are probably hastily put together. Heck, I struggle to hire a decent landscaper. Can't even imagine finding a decent builder.
The entire times for months you said that there will not be a crash in AZ where I live really upset me! I’m being honest! I just wish to god there was an honest realtor out here. At least you told the truth finally. I got here in 2019 during the end & the market was insane we were ran out of the market and to hear you say it was ok to buy & not be honest is disappointing! Because we always wanted to own & it hurts. I could honestly never use you as a realtor because of your dishonesty. Thanks for finally coming clean. Remember honesty always is the best policy. Integrity is GOLD
None of the markets I’m in are buyers markets yet in my opinion. We’ve simply gone from the most extreme sellers market in history to a balanced market.
Was one of the lucky ones. Bought my home in 2016 for 215000 and sold it a couple days ago for 415000. About to retire to the Caribbean and relax in the sun.
My lease is up the end of May 2023. We want to buy now that we figured out what we really want and stay put for at least another 5 years. I’m hoping it’s possible.
I like the honesty in this video. I have a buddy that is a loan originator and keeps trying to get me to buy a house but prices are nuts and my monthly income just isnt there. Im in FL and finally got a job I enjoy but the pay isnt great. I rent a room to save money and a house would be awesome. Got 15k so far saved. Id like to buy a house and rent a room out. Always had roommates. I think the best thing to keep doing is save. I also only make 16$ an hour so it is totally possible to save money in this economy. Its all about how far you are willing to go.
Idk why I’m just seeing this. Gonna try the notification bell. I’m interested in investing in a rental property in the future. I bought my most recent house before I found your channel and I laugh at how many of your tips I didn’t know I needed.
Me and my family should’ve bought 10 years ago, we didn’t and now we are here. Wondering what will happen (will it get more expensive) or when the right time to buy is 🤯
It depends what you’re waiting for. I was in an apartment the last two years but I’m going to purchase now because rents have skyrocketed so high I may as well have a mortgage. Sellers are willing to make concessions now and prices are decreasing. I don’t think they’re going to decrease as much as everyone hopes, but with rents going up so high, what’s the difference?
4 years ago my wife said we should wait a year to buy because she read and heard the real estate market was going to crash. I convinced her to look at homes without intent to buy (wink wink). We found a house for $270k 3b 2.5ba around 1600sqft. We put an offer for $257k it got accepted and purchased our first home. 4 years later house has appreciated to around $380k. My wife thanks me all the time now 🤣🤣🤣.
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So 1 year ago when you could not even negotiate prices was the best time to buy, but not right now when you can get cheaper prices and they basically with accept any offer under 2% - 3% from list price?
It all depends. Right now it is a great buyer's market because there are more options and better prices. The only thing holding buyers back is the high interest rates. I tell my buyers they can always refinance down the road. It is also possible interest rates are the lowest right now that they will be for a long time.
I liked the use of numbers and charts. What this told me as an engineer tho is… sellers are getting scared, and if you find the right house with the right seller (who also has a urgency to move), you have the opportunity to make a deal with less competition. The excitement on my face when I saw that 5k buyers count number. I can’t compete with 400k cash offers, and I’m willing to pay 30k extra now cause I’ll hold all my properties for a long, long time. Obviously I’m willing to hear the counter argument to this logic, as it’s in my best interest.
You have always impressed me as being ethical. When the time is right for me I will come to you for a realtor recommendation in my area. Thanks for your honesty videos.
Ran into two realtors last week in the Phoenix area. One said it was a good time to buy, the other one said that homes were not moving. There it is, some tell the truth others do not.
I have so many cousin Edgar’s in my life… all making anywhere from 20k-120k+ in this recent hosing surge without lifting a finger. They constantly remind me how stupid I am for not investing in real estate like they did just before 2020. Thanks for addressing this in the video, there are not enough people calling out these “real estate gurus” for just getting insanely lucky.
Appreciate your honesty I recently decided to dive into the home buying process. I watched all your vids and learned a lot. After I got my pre approvals and found a home I really loved I reassessed. I did the math and realized It was just not the time, although I really wanted to have a home. High interest rates combined with raised home prices and only 15 k saved is not enough for a one person buyer. Even making just under 90k a year in Texas with a 790 credit score . This vid just further solidified my choice to wait. Id rather save more money then sacrifice my savings just to say I have a house and pay 2k on just the mortgage.
But at the same time we don’t know what the future will hold… is the market really going to crash again? Or will it just dip a little bit, If it only dips a little then it doesn’t matter if you’re not planning on selling.
@@killerreef7397 Well Ideally I want to buy low, it's in my best interest. Property taxes in Texas add $400 to my mortgage payment. My monthly net income is $4,264 ;with me putting 18% in retirement. A house worth 245k puts me at monthly payment of 2k. Thats half my net income, not even sustainable. The combo of high tax rates,and interest rates,inflated housing costs just makes me house broke. And just like that making just under 90k is meaningless.
I feel sad that even though I am investing, I don't have the brain power to dig through how each company is doing, is this a good time to buy stocks or not, my reserve of $450K is laying waste to inflation and I don't know what to do at this point tbh, I need solid data on market trajectory
@@stellaadams593 Having an investment adviser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions I netted over $320K during this dip, that made it clear there's more to the market that we just don't know...
@@davidjackson4437 I invest with (CLAUDIA TRINIDAD RIVAS) a widely known consultant. You can make a quick internet research with her name mentioned where you can easily get in touch...
In my area there is a shortage of housing be that purchase and rentals prices on houses has doubled in last 6 years I highly doubt they will change much probably keep going up
Great thoughts you got there! The motivators could help a lot for people to take a moment to think before impulse buying houses with the situation in the market right now.
Thanks for this video! I keep hearing people say that the housing market is not good, but I never understood what that actually meant. Thanks for explaining, and making it easy to understand :)
I enjoy your honest approach, keep up the transparency! IMO, I think for reasons you touched on that it will be worse than "2008" (which started in 2006). Realtors are not the only thing this everything bubble has engorged the pockets of... think of everyone in PHX that is a part of the housing market. Title/loans/escrow/contractors/builders/speculators/ the dude working at McDonald's for $18/hr because the guy before him left to go make $25 in construction. This not only happened in PHX but arround the world, we are already hearing of construction companies in the US going insolvent. As the fed continues to raise rates and just starts to sell its assets that it bought which includes MBS this will cause the 10yr bnd to go up causing 30yr rates to go up. Further deflating this everything asset bubble. The only markets in IMO scheduled for bigger deflation than housing is stocks and cars. My friend works for a large Home Loan Servicing company as a portfolio analyst. They have restructured all the loans in forbarnce which was 600 billion worth of loans. Many of these people are already starting to default again. We have almost 2million homes waiting to hit the foreclosure market (Which will take your mls 19k too 25k IMO). All this while about 35% of Phoenix's workforce is related to housing/construction. Turning this into a deflationary death spiral. Allowing those where called "morons" (not buy you) for not jumping in to pick up assets and change their generational wealth if they don't sell and waste it on a new "Escalade" to floss. Keep up the good work man!
Real Estate is also in a bubble because their price increases have gone up way higher than incomes. The ratios are at historical highs. It would be a bubble regardless of the stock side and investors. The higher interest rates are just going to make it pop faster. For now, I'm just gonna stick with asset diversification using the copytrading system. Finished second quarter at +21%. Just an average Joe here trying to thrive in these volatile markets.
I was wondering if investing in a cumulative ETF during this next decade is a sound investment. Or is it better to invest in a distributing ETF (even considering taxes)?
My funds are pretty much diversified. You should probably try algorithmic trading; copy the gurus, more so one with experience of the past bear markets. I copy a chartered financial analyst name Williams T. Kevin. Been quite consistent. My portfolio returned approximately 24% in the first quarter.
@Friedrich Since it's an algorithmic based model, it's very much transparent because you can actually see what assets you have and how much growth your portfolio has achieved.
A lot of people have a good amount of equity to use as a significant down payment to protect themselves even if there is a correction however affordability is still a major concern
the question should be..can we afford to buy a house right now...not should we... i was able to afford 1mil at 2.8% last year... now interest rate is @ 6.2% and i can only afford around 800k... but the house price didnt fall 20% ... so the answer is...no i cannot afford the house... i dont hv the options to chose buy or not buy right now..... 😑
What about New Construction Homes. I'm a single father with 3 children, one income and I was able to lock in 4.75 interest rate, closing cost paid, plus incentives for the home (washer, dryer, blinds and garage door opener). I think first time home buyers still have a chance but not on pre-existing homes but New Construction. Plus if you wait 5 yrs the home should hold its value and you will have decent amount of equity if yo want to sell.
Appreciate your video man. Me and my wife are looking to purchase our 1st house but we might just wait it out due to the market. Keep it up. From chicago
What I've always appreciated you saying is that, in this market, you should only buy if you intend to stay in the home for at least the next 5-7 years. So I agree that right now is a terrible time to buy, if your goal is to sell and turn a profit 2-3 years from now. Do you have any insight into how this is varying by market? Primarily curious about Denver because there has been a huge influx of people and it looks like demand is going to continue outpacing supply for the foreseeable future
People who bought in 2006 at the peak still are in their 30 year mortgage, are positive in equity, and have a mortgage cheaper than rent by far. Don’t let the fear of crash deter you
bought my first home in 2006 at peak of the market, short sold in 2009. ready to buy again in 2022. feels like I have the worst timing in history. I've learned too much from the pain of the '08 crash to do it again...
This is how fast housing can crash. Job layoffs, being over extended, divorce, death, relocation can all lead to having to sell your house. But what happens when you are upside down or underwater on your mortgage? You are in a negative equity position and likely will have to cut a check at closing when you sell. What if you can't do that?
I have been paying rent for over 10 years in Southern California, 1700 a Month but it happen that the company where I work moved me to a different location where I will be able to pay a mortgage with the same amount I use to pay rent so for me this is a market to buy.
Had a new construction in Savannah for 279. We pulled out because we didn't quite like the neighborhood. Now we're looking in north Atlanta and will rent for 14 months.. hopefully ready to buy after that!
Thank you for your transparency and to a fellow gamer I used to play Destiny but not no more great game maybe I’d get back into it. When I do purchase a home I’d like to use your services, but as the market stand I may be set on my tiny house dream 😂 & live in the woods.
Javier, I appreciate you making this video and talking about this. It's funny that you mention living an apartment and having triplets. My urgent need was that but twins (still insane). Does this video still hold true with today's real estate prices/activity?
“Monthly payments should be 25% net monthly income “…Javi, bro, in what HCOL world if you don’t make that tech sector $$. You talking just P&I or the whole PITI +\- HOA? You Ramsey’in me here ? 😂 Keep it real, the people’s agent. Love your channel and that you shamelessly plug in video game sfx and music. never change
I might be asking a dumb question but we closed on our house June 24th (30 minutes outside Austin TX) for 308k. It’s a 20 year old home and the location has potential for more growth but I could see it also not happening, It’s Lockhart TX. We don’t plan to leave anytime soon so this was a decision based on us wanting a house with a backyard for the dogs and the concern of rent prices in Austin. I’m just so worried I bought out of panic. It’s like the moment we closed, things changed in the market and I’m left feeling like even if we spend 20+ years in this house, we won’t see any kind of return investment. Do you have any option on my situation? Did we jump the gun? It definitely felt like we were being pressured to make it happen “before it was too late”. And we bought a freakin house just purely bc it was the one that finally accepted our offer. I feel like I don’t love it but I settled for it since it was our 18+ offer and rates were going up fast. I’m worried in the future no one will want a house built in 02 for the price we paid. By then it’ll be 40 years or so old and not the good old like the historical homes built to last centuries. Idk I think I’m just going to feel this way for a long time. Buyers remorse maybe?
You shouldn’t worry about your purchase if you plan on living there for a longer period. Enjoy your home. Don’t lose your sleep over what’s going in the market right now. The market is going through a correction but it will never be like 2008. Don’t rush into selling as you will not get the return on it yet as it usually takes about 5-7 years to build the equity with payments you make and market appreciation over period of time. We will never see the double digit appreciation like it had been in the last 2 years. Market shouldn’t have been like that. Your payments are probably cheaper than the rents out there. People need places to stay and will continue to rent or buy a house. I’m in CA and some areas are buyers market and some are still sellers market.
How much do you think houses will go down by chance? I hate some TH-camrs that have the fire thumbnails and say everything is crashing when, in my opinion, I see it correcting and balancing and probably not much appreciation for a few years but that’s jus let me. For how much home prices went up the last 2-3 years, I don’t really think it’s a big deal if prices go down 10-20%. But I’m curious of what you are thinking?
I mean in most places a correction would be a lot more than 10-20%. Average family houses in ohio have gone up like 100-150k in the last 2 years. Call it a correction or a crash, they are gonna come down a lot lol.
Funny you mention the car thing. My neighbors refinanced their home recently , we bought at the same time. What do they do ? Buy two Tesla's ..... Like wtf hahaha . I asked them if they are debt free ? Nope the wife had 50k student loans and the guy has 20k in credit cards. They could have easily paid off debt . I'm waiting to refinance and pay of all my debt , even with high interest my payment would be lower than combine debt . And I can rent home for higher . Also I bought pre covid with no emergency fund , but my job is pretty essential
What if the seller refuses to pay your closings costs because he says he already knocked of 20,000 a month after the home hit the market. He also wants 2 grand in earnest money. Should I walk away?
I love your channel man. Solid real estate advice and a lover of all things Nintendo! And as a Jeep guy. THank you for callin out those nasty Jeep gladiators
I play Destiny 2 also, mostly as a Warlock then Titan - not much into raids or dungeons. 😀 Thank you for your honesty. Since I've been looking for months now, the irritating thing is the interest rate and the over-priced houses.
I'm the dumb cousin Edgar woop woop! I have been buying foreclosure properties since the 2008 recession, I was 20 years old when the housing market crashed and I worked for a seasoned real estate investor that got wrecked by 2008, he went from a multi million dollar real estate portfolio to bankruptcy. Luck is crazy, my real estate success is largely due to being born at the right time.
Our urgency is very high. My fiancee is transfemme and I'm disabled and we are in an area that is not safe for either of us. We're trying to move to a sanctuary state (we'd also have exponentially better job opportunities in our fields where we're looking). Our finances are in a weird place - we have solid credit, are both in the talks of better positions in our fields (average combined 100k), and the area we're looking at has rent prices that are stupidly high for our needs but we have the pulse on a house that checks all our needs (including accessibility for me) that would be about the same maybe cheaper. But our savings kinda took a hit after I was on bed rest for a month after my last surgery. We're considering inviting our close friends and current roommates to join us at the house in the other state, there's plenty of room, and it'd lift some of the financial burden on it. So imo our urgency is there and our financial is possible. I do have a question if you get past this wall-o-text. In the hypothetical my fiancee and I qualify for the house just the two of us, but our friends agree they want to move with us, do we have to include them on the initial financial documents or can we just say they're tenants after? LOVE your channel, it's helped so much with my approaching this.
Free knowledge and game here, thanks for sharing the information, the crazy housing “shortage” within the last 2 years is now over and market definitely shifted to buyers market. I definitely feel I bought at wrong time (last year) but was a necessity with new baby. Only thing I felt good about is interest rate at the time, nearly half what it is now!
Everyone is going to "lose equity" - not just new home buyers. So do you want to lose 100% equity by renting, lose a massive amount of equity by buying a huge house, or lose a little equity by buying a smaller and less expensive home? The answer is easy - buy the least expensive home you can.
You won me over when you mentioned you played Destiny 2 (I just subscribed.). Now the real question is do you main a Titan, Warlock or a Hunter? 👀 Very important detail here Guardian and I need to know lol. But definitely good info and things to think about. I’ve decided I want to buy. However, I’m not rushing and decided to hold off another year and see where the market is and continue to build my reserves. Thanks for a great video Curly Haired Guardian Babe.
Has the target been getting closer? You talked about how the target of home buying was getting farther and father away in a video 3 months ago “My thoughts on housing affordability…” Would love to hear if your opinion has changed
Daaaag, I'm so bummed right now seeing this video 😭...I moved in with my boyfriend last year to save for a down payment. I've been stalking houses and finally found one I absolutely love! But he's allowing me to stay as long as I want. So yes, it could help to save more. But my job is solid and I just found out I can get this place with a USDA no money down loan. So although I don't have to rush, I simply wonder if l'll be forever regretting not buying this home by the lake that I've been dreaming of?? I've got your sweet little angel face on one shoulder and your little devil spawn (taco eating) one on the other!! 😅
You’re definitely both a tricky realtor trying to get us to buy houses and a curly haired babe
#CurlyHairBossBabe club
Hi! I found this text interesting.
Predictions of a Russian seer made on February 27, 2022 in the village of Plenitsino.
Question: What is Putin up to in Ukraine?
Answer: This is his most important and last mission, for which he came to this world.
Question: Mission?
Answer: Yes.
Answer: And what is it?
Question: Change this world.
Question: Why?
Answer: The time has come.
Question: Why Putin?
Answer: They chose it themselves (he pointed up with his hand).
Question: Explain?
Answer: Higher powers.
Question: And who are they?
Answer: In Tuva.
Question: Why there?
Answer: They probably determined the location themselves…
Question: And who are the intermediaries?
Answer: There are two of them. The strongest shaman of the planet and a lama from Tibet.
Question: What are they talking about?
Answer: I can't know that. Recently, the transition from the dark age of Pisces to the light age of Aquarius has begun on earth. This is one of the cosmic cycles that lasts for several millennia. The earthly civilization is moving to a new spiritual level, in short… Russia is under the patronage of Aquarius. This country will rule for the next millennia… But it won't happen suddenly. Every year there is an acceleration. Everything will change…
Question: Of course, this is all interesting, but what does Ukraine have to do with it?
Answer: This is her sacred mission. Ukraine will sacrifice itself for the sake of millions of lives on the whole planet.
Question: I'm sorry, I don't understand why Ukraine?
Answer: Ukrainians are Russians with a changed mentality. The forces of evil have been actively decomposing them for the last 30 years… And they succeeded.
Question: And who are the "forces of evil"?
Answer: Western civilization.
Question: It turns out that Putin has declared war on the West?
Answer: No. Putin was forced to accept the challenge… It was the West that declared war on Russia in 14. The West organized a coup in Ukraine and allowed the genocide of Russians in the Donbas. Putin tried for 8 years to settle the conflict in the Donbas, Minsk-1 Minsk-2... But he was deceived.
Question: Why did Putin announce a special operation on February 24, 2022?
Answer: Ukraine has concentrated 170 thousand troops on the border with Donbass and planned an offensive on February 25. Putin understood that Donbass would not stand, hundreds of thousands of people would die... He knew about this in advance, so back in December 21, he put forward an ultimatum to the United States and NATO on security guarantees. The West deliberately chose the path of war, but with the hands of Ukrainians.
Question: Why does the West need a war?
Answer: This is a dying civilization. The total debt of the USA is 170 trillion dollars, the EU 12 trillion euros. Throughout their history, they have lived at the expense of colonies and wars…
Question: It turns out that Putin had no choice but to answer…
Answer: Yes. But he was not ready for such a war…
Question: What kind of "such a war"?
Answer: Fratricidal war. Putin does not yet know how hard this war is being given to him… This is not Crimea, where millions of people gladly accepted the Russian world. It will be a protracted war… The whole world will blindly take the side of Ukraine. This is not a war for Ukraine, but for the global world order!
Question: And who will win?
Answer: Russia. In the future, Ukrainians will find out the truth and curse America. There will be no such state anymore.
Question: When will the war end?
Answer: In a year and a half.
Question: What about Western civilization, what will happen to it?
Answer: It will self-destruct. Irreversible processes are running... Europe will fall first, followed by America. Catastrophic events will occur... Nature itself will punish them.
Question: What will happen to Russia?
Answer: It will slowly begin to revive, by the age of 35 it will become the strongest and most attractive country to live in…
Question: Will there be a war with China?
Answer: No. China is expecting a "Great Depression".
Question: Will Putin remain president after 2024?
Answer: No.
Question: Who will become the new president of Russia?
Answer: There are already three candidates, one of them is a woman. Who exactly - I have no right to say.
Question: Who will be president in the USA?
Answer: Trump. But not for a full term.
Question: Last question… How do you know all this?
Answer: Everything I see is forbidden to voice, but what I have already said, you will be able to check in the near future.
4 years ago my wife said we should wait a year to buy because she read and heard the real estate market was going to crash. I convinced her to look at homes without intent to buy (wink wink). We found a house for $270k 3b 2.5ba around 1600sqft. We put an offer for $257k it got accepted and purchased our first home. 4 years later house has appreciated to around $380k. My wife thanks me all the time now 🤣🤣🤣.
Same 2018 bought our house 300k now it’s 615k it was 650
@@Uwolz did you sell yet ?
What was your APR though?
You know what they say... experts have predicted 12 of the last 3 market crashes.
It’s really different now. We are in bad inflation and maybe depression in the future. Anyway yes 2018-2019 was the best time to buy a house! My sister bought in Jan 2019 now her home is wow!!! Congratulations!!!
The housing market crash is not going to mean more people might be able to afford houses. It's going to mean further monopolization of house ownership under corporate investors.
I began investing in REITs late 2019 and I've accrued enough profits in a year to buy rental units and parking lots, and I'm still investing in my real estate properties which brings in roughly $500k annually
@@MHousley Indeed the real estates market is a money faucet, Having just paid off my mortgage and the process having some residual cash, How can I do the same with £75k?
Don't wait until the market skyrocket
again then you start biting your fingers wishing you made the decision to invest, bought my third house already, earn on a monthly through passive income and got 4 out of 5 goals. Just hope it
Yes the real estates market has been known to be a revenue for earning consistent incomes, especially when done with proper system.
@@eddieparker4529 Well if there’s one thing I have learned from the past years, is top experts will always find the best way to generate you profits either from a crash or rise in the markets. Since the pandemic till now I am still mind blown with my profits outcomes from imploring aid from one
We need to revisit this in 18mos... thank you Mr curly hair dream crusher, for being brutally honest! Seriously, you are the most entertaining, enthusiastic, informative, TH-cam realtor and I appreciate your videos! Ima cry now 😢
Well, as a single mother with one salary and how expensive everything is now is impossible to live within the 35% of my income. It is impossible to have 3 months of savings. This market continues to be very discouraging specially when the rents are so high now. 😔 Thank you for always been so honest and keep us informed. 🙏
I agree. I'm recently separated with 3 children, one just started college this fall. If it wasn't for a accident settlement I received I would still be homeless or stuck in a marriage with a drug addict abusive husband. Now I work 2 jobs to just survive and save very little until something unexpected happens and wipes that away. I've came so close to going back to my toxic marriage just to have somewhere to call home.
@@bridgettavelar2024 Hi Bridgett. No matter how bad your financial position becomes, don’t go back to that relationship. My mother had done the same and it only makes your mental state worse. Pray, find a pro bono financial consultant, and everything will get better with time : )
@@bridgettavelar2024 dont trash the guy. You CHOSE that abusive drug addict. Take accountability for your choices
I'm in the same situation. Single mother living off a decent income, but still struggle to afford my $3100 rent 😤. Really want to buy, but it feels damn near impossible. Impossible to rent too. It sucks.
@@finalchapter24k don’t trash a drug addict?!?! 😅 you males are really losing it 😂😂😂😂😂😂😂😂😂😂
it's all about information and strategy application, I've seen folks make huge 7figure profit in a crashing market and pull it off much easily in a bull market Unequivocally the crash/recession is getting somebody somewhere rich...
On occasion you can beat the market with blind luck, but I wouldn't depend on it. Having a science background there is a saying, 'Luck favors the informed', I've found it to be true, allowed me in great part to retire early
@@glenbert1396 Well politicians for certain are gaining off the crash, and true the average individual could profit off a crash but such high-grade investing come with equal risk which can only be managed by a proper pro or expert…
@@louisairvin3052 Yes, the idea of a portfolio-coach used to sound generic, but new study by investopedia actually 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 their skillets are topnotch…I’ve raised over $1.3m from an initially stagnant reserve of $180K in less than Two Years..
@@Steyne968 I've actually been thinking of reaching a portfolio-adviser, my 401k and stocks been losing everything it's gained since 2019, mind if I looked-up this one coach you use?
@@louisairvin3052 My advisor is “Theresa Mary Chamblee” You can verify her and use her services if you want.
Another consideration is that because prices and rates are high there is much less competition which allows people to actually buy their ideal homes instead of settling for any house they can get their hands on
Correction, never ask a BAD realtor advice about buying a house. I learned in my first time home buyer class to interview several agents before making a selection. In my personal experience, all of the agents that my husband and I interviewed (except for 1) were honest about the market and the overall home buying experience. Choose an agent that does not NEED to sell a home right away. If they will work with you for as long as it takes for you to find a home that one indicator. Realtors that do not have reserves, or strong consistent history of selling homes serveral homes (at varying prices points) and/or other steams of income likely need money quickly so they will pressure you to buy now and if you don't will move on to the next client. Also, some areas are a buyers market and others are still really hot are still a sellers market which is why it's very important to have a strong knowledge of the market where you plan to purchase (your agent should also). However, overall we are currently in a BALANCED maket.
I have a baby due in January, and a gifted inheritance sometime this year and again next year. Hopefully everything works out perfectly and can get a house by the time my daughter is born!
lucky man
I bought at listing but was able to get closing costs paid. I’m ok with watching prices dip, instead of sitting in this apartment paying over 2k a month for half the square footage and no back yard, with a kid and two dogs who desperately want to be outside. Plus I have two houses I rent out that supplement my income. I consider myself a case where it made sense.
The price drops don’t make up for the interest rate increase. (For those with low rates )
@@rickyrivas4893 yes dont forget the interest rates lol and need huge downpayment
How to get closing costs paid for? Just ask seller?
@@FernandoSilva-wf9ly Yes, your agent can ask the seller to give closing cost. Sometimes they will but don't expect it.
We bought in May. I think some people probably think we’re dumb, but we were in that first category where we had a huge need. You try living in a 900 sq ft 1 bath condo for years with 2 kids & you might change your perspective. 😂 It was also falling apart. We’d been saving & planning it for a long time, yes it sucks that things went crazy after 2020 & we ended up moving an hour away. But what are you going to do. I’m just glad that we have a home now & we’re prepared to be here for a long time.
Same here, very similar position to you.
The 3-6 month reserve is quite difficult considering rent prices right now. We are buying bc our mortgage will be significantly lower than our rent has been. Buying is a necessity for a lot of folks right now
Comparing Mortgage and rent is like comparing apples to oranges. You also need to factor in insurance, taxes and maintenance. People were buying houses above appraisal value without factoring in deferred maintenance.
Be very careful with your analysis.
Fk a 3-6 month reserve
I hate when people say that unreasonable ass sh*t which is for most people unreasonable
You didnt get a 3-6 month reserve for your apartment or new car why would you stress over that with a house
Most people dont have that and it doesnt make or break anything if your smart with your money
@BavarianRev yes, you're so right! We never thought about the lawn care,/landscaping prices! Also, never thought about paying people to installight fixtures, small electrical jobs, etc
@@thomasreedy4751 while this is true you have to factor in those expenses. I also agree with the original comment. For myself, I need a 2 bedroom/ 2 bath either townhouse/condo or home. In my area apartments and houses are running 3000-3800 for just that. A house in a city outside of me 2 bed / 2 bath is around 2600. If I chose the home outside of my city I still will have money for all the other expenses that come with a home as if I were to rent my 3200 would be going to just rent. I went to visit a townhouse and the rent was sky high because she needed the solar panels being paid, the HOA fees etc. I would of been paying that…. Why not have my own? Yes it’s important to know it’s not just mortgage. But many of us renters are paying SKY high rent. By the time I get done bidding on a place and paying 6 months rent in advance (because that’s what’s happening on the market right now) and a deposit JUST to get a place to rent why not put that money into my own house???
Any gains you might make by owning will be largely eaten up by ongoing maintenance/repairs. Landscaping and lawn work never ends.
You missed one (kinda). 4. You have a long term outlook on owning a home. For example, people buying 1 bedroom condos even though they may be getting married in a year or two and may have a need to move up to a larger place. Maybe buying that 1 bedroom isn't a good idea as you may not be able to get out of it. Or maybe you are not quite settled in your job or career and might need to relocate for a different job.
If you can't hold a home for at least five years, it probably isn't a good move right now.
I'm closing on my first home on 9/9. I've been wanting to buy for about 4 years but never felt confident enough to go for it. I found an amazing real estate agent who found me the perfect house below my budget and things just fell into place. So it was years of planning and saving with a lot of luck.
Cancel the Deal!
Congrats on your new home!
Congrats!!!!
Congrats! Closing next week as well ☺️
Hate to rain on your parade, but if you wait 12/18 months, you will probably get way more for what your budget is currently. If not, I hope you are happy with your new home and plan to stay there for awhile :)
I appreciate your honesty. Your information saved me from buying a few months ago. We have a one year lease and are just biding our time. We’ll start shopping next spring and look to benefit from the failure of someone else’s greed.
Hopefully it's an investor and not someone who lost their house.
First time watching one of your videos. Instantly sold. The information, humor and editing won me over immediately. Well done sir, we’ll done. I couldn’t click the thumbs up and subscribe button fast enough.
Despite what other people say, thank you for your honest input because I was going to fall into that category of people buying a home without a strong reason why. I'm merely buying because I'm tired of paying rent.
The fact that Americans look at houses as investments is a major aggravating factor on unaffordability. Most other places in the world view their home as a basic necessity versus a way to build wealth.
Places like EU/AUS take half of your income so of course most things fall into the "necessity" bucket and if there is anything left it's probably so little that you might as well make it Play money.
Not just Americans, everybody on the planet. Real estate is the only asset most people will ever own.
I think you meant, we’re heading towards a buyers market. We’re not in an “extreme buyers market”… yet 😉
It's always a great time to buy!! If you can and are in a position to do so do it! Start building equity. Homeownership is better than renting. Let's go!! 🔥🔥🔥
Unless you can live rent free of course
I think Realtors who are honest and don’t pressure or push or try to sway will always succeed long term.
Now let’s all go for tacos and salty margaritas 😂
that sounds fire right now lol
Yes because when the time comes where it’s the time to buy, those people will come back to the realtor who gave them good advice to NOT BUY. It’s like a mechanic saying your car is good you don’t need anything done. When something finally does go wrong, you go back to them.
@@chinoskateboardv this^^^^
Trust& relationship over quick sales and commission breath
@@lowkeyscustomcars rightttt as soon as Jav said tacos 🌮
The crave kicked off
The only agent in our market that has come clean. I've been putting out these videos saying buyers should wait to buy and getting some nasty agent remarks on FB. Almost 19 years as a mortgage broker I've seen this before. Since then we've seen a 10% decline and those agents are nowhere to be found 😆
Great points, Javier. #1 Urgent Need for us would equate to my aging mother needing additional care. We're going to try to wait until the spring to look for a home with an additional room. Thank you for your honest thoughts and review! Love the channel. ❤️
I will probably set this one out for a at least the next few months to a year. I’ll still shop around, unless I find a good deal on a home. I’m not giving up too easily. Thanks for the info!
I'm in the market for a house right now due to high rent and a growing family. I'm only willing to pay appraisal value. More specifically, my bank is only going to write a check for appraisal value, so we'll see how this goes😁.
Actually sellers right now are getting more agreeable to concessions and being realistic about their price. I am purchasing one and I looked for a house that Had been on the market for about three months and the sellers were taking any offers. I didn’t wanna gouge people, but their house was on the market because they had been so overpriced. I was able to get what I think is a fair deal and frankly I’m only paying about $400 more a month than I would for an apartment rental.
I really like this guy! Finally I found someone who has the same logic as mine. A realtor with good brain (and honest) is hard to find. Thumbs up 👍 big time!
I bought a house last month. In the time from offer accepted to closing things shifted a lot. We can still afford it because we planned for the worst but there was definitely a shift from Spring-now.
congrats!! if you staying for years to come, this shouldn’t worry you.
The reasons I'm considering buying right now:
Prices are going down and I can get the seller to pay closing costs.... which will be used to buy down the rate. The rate will eventually go down being that it hasn't been this high for like 15 years. Drive the price down from the seller, get closing costs, drive down the interest rate, get an ARM and sell it after 5 years or refinance.
You have no way of knowing what the rates will be unfortunately. But yeah, short term you can get in on ARM.
We just bought a house and had enough for a down payment. Even though it was a brand new home we had to spend a ton of money to furnish and fix up the house. Pest control, rain gutters, etc… it all adds up. We spent $15k in the first two months and that doesn’t include mortgage, taxes and utilities. Don’t buy unless you have that money ready.
Sooooo true! Same here! The cost of furniture is sky high , haven't bought new furniture in YEARS until we bought our home last fall 2021
Can you say who the builder was
@@bane2256 DR Horton. They had to fix bunch of stuff under warranty which was an extra headache for us
@@johnnywang206doesn't surprise me at all. Whether you buy new or old doesn't matter. There's a huge skilled labour shortage so any new builds are probably hastily put together. Heck, I struggle to hire a decent landscaper. Can't even imagine finding a decent builder.
Dude you are clutch …you delivered an answer to my biggest dilemma at the moment . Subscribed . Thank you .
The entire times for months you said that there will not be a crash in AZ where I live really upset me! I’m being honest! I just wish to god there was an honest realtor out here. At least you told the truth finally. I got here in 2019 during the end & the market was insane we were ran out of the market and to hear you say it was ok to buy & not be honest is disappointing! Because we always wanted to own & it hurts. I could honestly never use you as a realtor because of your dishonesty. Thanks for finally coming clean. Remember honesty always is the best policy. Integrity is GOLD
None of the markets I’m in are buyers markets yet in my opinion. We’ve simply gone from the most extreme sellers market in history to a balanced market.
Was one of the lucky ones. Bought my home in 2016 for 215000 and sold it a couple days ago for 415000. About to retire to the Caribbean and relax in the sun.
This is why I fallow your channel Javier, you are saying things that other agents will not say because they always want you to buy no matter what.
My lease is up the end of May 2023. We want to buy now that we figured out what we really want and stay put for at least another 5 years. I’m hoping it’s possible.
I like the honesty in this video. I have a buddy that is a loan originator and keeps trying to get me to buy a house but prices are nuts and my monthly income just isnt there. Im in FL and finally got a job I enjoy but the pay isnt great. I rent a room to save money and a house would be awesome. Got 15k so far saved. Id like to buy a house and rent a room out. Always had roommates. I think the best thing to keep doing is save. I also only make 16$ an hour so it is totally possible to save money in this economy. Its all about how far you are willing to go.
If you have saved 15k while making 16 dollars an hour that is impressive. Well done
Appreciate the honesty! Love the channel
Idk why I’m just seeing this. Gonna try the notification bell. I’m interested in investing in a rental property in the future. I bought my most recent house before I found your channel and I laugh at how many of your tips I didn’t know I needed.
Me and my family should’ve bought 10 years ago, we didn’t and now we are here. Wondering what will happen (will it get more expensive) or when the right time to buy is 🤯
Same boat. 10 years ago, 5 years ago, 2 years ago. Now I'm like... dang should I wait another 2-5 years???
Always buy what you NEED - my pov
Be patient..there's always deals out there
It depends what you’re waiting for. I was in an apartment the last two years but I’m going to purchase now because rents have skyrocketed so high I may as well have a mortgage. Sellers are willing to make concessions now and prices are decreasing. I don’t think they’re going to decrease as much as everyone hopes, but with rents going up so high, what’s the difference?
4 years ago my wife said we should wait a year to buy because she read and heard the real estate market was going to crash. I convinced her to look at homes without intent to buy (wink wink). We found a house for $270k 3b 2.5ba around 1600sqft. We put an offer for $257k it got accepted and purchased our first home. 4 years later house has appreciated to around $380k. My wife thanks me all the time now 🤣🤣🤣.
So 1 year ago when you could not even negotiate prices was the best time to buy, but not right now when you can get cheaper prices and they basically with accept any offer under 2% - 3% from list price?
It all depends. Right now it is a great buyer's market because there are more options and better prices. The only thing holding buyers back is the high interest rates. I tell my buyers they can always refinance down the road. It is also possible interest rates are the lowest right now that they will be for a long time.
Refinancing also means paying all the closing costs again. Do you tell them that?
I liked the use of numbers and charts. What this told me as an engineer tho is… sellers are getting scared, and if you find the right house with the right seller (who also has a urgency to move), you have the opportunity to make a deal with less competition. The excitement on my face when I saw that 5k buyers count number. I can’t compete with 400k cash offers, and I’m willing to pay 30k extra now cause I’ll hold all my properties for a long, long time. Obviously I’m willing to hear the counter argument to this logic, as it’s in my best interest.
You have always impressed me as being ethical. When the time is right for me I will come to you for a realtor recommendation in my area. Thanks for your honesty videos.
Ran into two realtors last week in the Phoenix area. One said it was a good time to buy, the other one said that homes were not moving. There it is, some tell the truth others do not.
I have so many cousin Edgar’s in my life… all making anywhere from 20k-120k+ in this recent hosing surge without lifting a finger.
They constantly remind me how stupid I am for not investing in real estate like they did just before 2020.
Thanks for addressing this in the video, there are not enough people calling out these “real estate gurus” for just getting insanely lucky.
Appreciate your honesty I recently decided to dive into the home buying process. I watched all your vids and learned a lot. After I got my pre approvals and found a home I really loved I reassessed. I did the math and realized It was just not the time, although I really wanted to have a home. High interest rates combined with raised home prices and only 15 k saved is not enough for a one person buyer. Even making just under 90k a year in Texas with a 790 credit score . This vid just further solidified my choice to wait. Id rather save more money then sacrifice my savings just to say I have a house and pay 2k on just the mortgage.
But at the same time we don’t know what the future will hold… is the market really going to crash again? Or will it just dip a little bit, If it only dips a little then it doesn’t matter if you’re not planning on selling.
@@killerreef7397 Well Ideally I want to buy low, it's in my best interest. Property taxes in Texas add $400 to my mortgage payment. My monthly net income is $4,264 ;with me putting 18% in retirement. A house worth 245k puts me at monthly payment of 2k. Thats half my net income, not even sustainable. The combo of high tax rates,and interest rates,inflated housing costs just makes me house broke. And just like that making just under 90k is meaningless.
@@dieanugh it’s almost impossible to do by yourself these days it’s insane
I'm waiting to close on My house, for me it's the right time because I'll be getting it for my wife and I, and our future kids in a growing nice area.
Just Closed yesterday! Do it if you can afford it!
I feel sad that even though I am investing, I don't have the brain power to dig through how each company is doing, is this a good time to buy stocks or not, my reserve of $450K is laying waste to inflation and I don't know what to do at this point tbh, I need solid data on market trajectory
I'll suggest you find a mentor or someone with experience to guide you especially in this recession.
@@stellaadams593 Having an investment adviser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions I netted over $320K during this dip, that made it clear there's more to the market that we just don't know...
@@davidjackson4437 I invest with (CLAUDIA TRINIDAD RIVAS) a widely known consultant. You can make a quick internet research with her name mentioned where you can easily get in touch...
@@kollykolly Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
First time I have ever listened to you. I love your honesty.
Just closed on a Cash Offer. They listed it at 255k I got them to come down to 215k with closing and appliances.
In my area there is a shortage of housing be that purchase and rentals prices on houses has doubled in last 6 years I highly doubt they will change much probably keep going up
Great thoughts you got there! The motivators could help a lot for people to take a moment to think before impulse buying houses with the situation in the market right now.
Thanks for this video! I keep hearing people say that the housing market is not good, but I never understood what that actually meant. Thanks for explaining, and making it easy to understand :)
I enjoy your honest approach, keep up the transparency!
IMO, I think for reasons you touched on that it will be worse than "2008" (which started in 2006). Realtors are not the only thing this everything bubble has engorged the pockets of... think of everyone in PHX that is a part of the housing market. Title/loans/escrow/contractors/builders/speculators/ the dude working at McDonald's for $18/hr because the guy before him left to go make $25 in construction.
This not only happened in PHX but arround the world, we are already hearing of construction companies in the US going insolvent.
As the fed continues to raise rates and just starts to sell its assets that it bought which includes MBS this will cause the 10yr bnd to go up causing 30yr rates to go up. Further deflating this everything asset bubble. The only markets in IMO scheduled for bigger deflation than housing is stocks and cars.
My friend works for a large Home Loan Servicing company as a portfolio analyst. They have restructured all the loans in forbarnce which was 600 billion worth of loans. Many of these people are already starting to default again. We have almost 2million homes waiting to hit the foreclosure market (Which will take your mls 19k too 25k IMO).
All this while about 35% of Phoenix's workforce is related to housing/construction. Turning this into a deflationary death spiral. Allowing those where called "morons" (not buy you) for not jumping in to pick up assets and change their generational wealth if they don't sell and waste it on a new "Escalade" to floss.
Keep up the good work man!
Real Estate is also in a bubble because their price increases have gone up way higher than incomes. The ratios are at historical highs. It would be a bubble regardless of the stock side and investors. The higher interest rates are just going to make it pop faster. For now, I'm just gonna stick with asset diversification using the copytrading system. Finished second quarter at +21%. Just an average Joe here trying to thrive in these volatile markets.
I was wondering if investing in a cumulative ETF during this next decade is a sound investment. Or is it better to invest in a distributing ETF (even considering taxes)?
My funds are pretty much diversified. You should probably try algorithmic trading; copy the gurus, more so one with experience of the past bear markets. I copy a chartered financial analyst name Williams T. Kevin. Been quite consistent. My portfolio returned approximately 24% in the first quarter.
@Friedrich Since it's an algorithmic based model, it's very much transparent because you can actually see what assets you have and how much growth your portfolio has
achieved.
@Friedrich Communicate with him on telegam using the user name below.
@Friedrich Earnwithkevin.
Your editor is marvelous, keep it up!
Dude your so real. I love it. You crack me up. Thanks for these great informative videos.
Buy now with the prices down, then refinance when the interest rates come down…. That’s the best advice
A lot of people have a good amount of equity to use as a significant down payment to protect themselves even if there is a correction however affordability is still a major concern
you have strong points for a long term buyer
the question should be..can we afford to buy a house right now...not should we... i was able to afford 1mil at 2.8% last year... now interest rate is @ 6.2% and i can only afford around 800k... but the house price didnt fall 20% ... so the answer is...no i cannot afford the house... i dont hv the options to chose buy or not buy right now..... 😑
What about New Construction Homes. I'm a single father with 3 children, one income and I was able to lock in 4.75 interest rate, closing cost paid, plus incentives for the home (washer, dryer, blinds and garage door opener). I think first time home buyers still have a chance but not on pre-existing homes but New Construction. Plus if you wait 5 yrs the home should hold its value and you will have decent amount of equity if yo want to sell.
My biggest concern is exactly this, where will home prices be in 5 years? No one knows. Houses doubling their price YOY hasn't happened before.
25 percent of NET income for rent or a mortgage in today's environment is extremely difficult to achieve.
Appreciate your video man. Me and my wife are looking to purchase our 1st house but we might just wait it out due to the market. Keep it up. From chicago
What I've always appreciated you saying is that, in this market, you should only buy if you intend to stay in the home for at least the next 5-7 years. So I agree that right now is a terrible time to buy, if your goal is to sell and turn a profit 2-3 years from now.
Do you have any insight into how this is varying by market? Primarily curious about Denver because there has been a huge influx of people and it looks like demand is going to continue outpacing supply for the foreseeable future
Going to be getting better for us with V/A loan benefits to use.
This man always keeps it real. Only real estate agent I enjoy watching 👏🏼
People who bought in 2006 at the peak still are in their 30 year mortgage, are positive in equity, and have a mortgage cheaper than rent by far.
Don’t let the fear of crash deter you
But the crash was followed by the ultra low rates which is what inflated the prices
Thank you for your honesty
bought my first home in 2006 at peak of the market, short sold in 2009. ready to buy again in 2022. feels like I have the worst timing in history. I've learned too much from the pain of the '08 crash to do it again...
This is how fast housing can crash. Job layoffs, being over extended, divorce, death, relocation can all lead to having to sell your house. But what happens when you are upside down or underwater on your mortgage? You are in a negative equity position and likely will have to cut a check at closing when you sell. What if you can't do that?
I have been paying rent for over 10 years in Southern California, 1700 a Month but it happen that the company where I work moved me to a different location where I will be able to pay a mortgage with the same amount I use to pay rent so for me this is a market to buy.
Thank you for your honesty.
Had a new construction in Savannah for 279. We pulled out because we didn't quite like the neighborhood. Now we're looking in north Atlanta and will rent for 14 months.. hopefully ready to buy after that!
Definitely appreciate the honesty and transparency
Javier, what are your thoughts on this new Bank of America home buying program for minorities?
Thank you for your transparency and to a fellow gamer I used to play Destiny but not no more great game maybe I’d get back into it. When I do purchase a home I’d like to use your services, but as the market stand I may be set on my tiny house dream 😂 & live in the woods.
Javier, I appreciate you making this video and talking about this. It's funny that you mention living an apartment and having triplets. My urgent need was that but twins (still insane). Does this video still hold true with today's real estate prices/activity?
“Monthly payments should be 25% net monthly income “…Javi, bro, in what HCOL world if you don’t make that tech sector $$. You talking just P&I or the whole PITI +\- HOA? You Ramsey’in me here ? 😂
Keep it real, the people’s agent. Love your channel and that you shamelessly plug in video game sfx and music. never change
How about option 3. You care.
Thanks for your input.
I might be asking a dumb question but we closed on our house June 24th (30 minutes outside Austin TX) for 308k. It’s a 20 year old home and the location has potential for more growth but I could see it also not happening, It’s Lockhart TX. We don’t plan to leave anytime soon so this was a decision based on us wanting a house with a backyard for the dogs and the concern of rent prices in Austin. I’m just so worried I bought out of panic. It’s like the moment we closed, things changed in the market and I’m left feeling like even if we spend 20+ years in this house, we won’t see any kind of return investment. Do you have any option on my situation? Did we jump the gun? It definitely felt like we were being pressured to make it happen “before it was too late”. And we bought a freakin house just purely bc it was the one that finally accepted our offer. I feel like I don’t love it but I settled for it since it was our 18+ offer and rates were going up fast. I’m worried in the future no one will want a house built in 02 for the price we paid. By then it’ll be 40 years or so old and not the good old like the historical homes built to last centuries. Idk I think I’m just going to feel this way for a long time. Buyers remorse maybe?
You shouldn’t worry about your purchase if you plan on living there for a longer period. Enjoy your home. Don’t lose your sleep over what’s going in the market right now. The market is going through a correction but it will never be like 2008. Don’t rush into selling as you will not get the return on it yet as it usually takes about 5-7 years to build the equity with payments you make and market appreciation over period of time. We will never see the double digit appreciation like it had been in the last 2 years. Market shouldn’t have been like that.
Your payments are probably cheaper than the rents out there. People need places to stay and will continue to rent or buy a house. I’m in CA and some areas are buyers market and some are still sellers market.
How much do you think houses will go down by chance? I hate some TH-camrs that have the fire thumbnails and say everything is crashing when, in my opinion, I see it correcting and balancing and probably not much appreciation for a few years but that’s jus let me. For how much home prices went up the last 2-3 years, I don’t really think it’s a big deal if prices go down 10-20%. But I’m curious of what you are thinking?
I mean in most places a correction would be a lot more than 10-20%. Average family houses in ohio have gone up like 100-150k in the last 2 years. Call it a correction or a crash, they are gonna come down a lot lol.
1 & 3 are good with me, but 2 is slowing me down right now. It's either a 2k apartment in pamdale, or a 1800k mortgage in F-park.
Funny you mention the car thing. My neighbors refinanced their home recently , we bought at the same time. What do they do ? Buy two Tesla's ..... Like wtf hahaha . I asked them if they are debt free ? Nope the wife had 50k student loans and the guy has 20k in credit cards. They could have easily paid off debt .
I'm waiting to refinance and pay of all my debt , even with high interest my payment would be lower than combine debt . And I can rent home for higher .
Also I bought pre covid with no emergency fund , but my job is pretty essential
thanks for addressing the elephant in the room, many agents do not accept this in public.
What if the seller refuses to pay your closings costs because he says he already knocked of 20,000 a month after the home hit the market. He also wants 2 grand in earnest money. Should I walk away?
I love your channel man. Solid real estate advice and a lover of all things Nintendo! And as a Jeep guy. THank you for callin out those nasty Jeep gladiators
You should do a video on reassessed taxes after the purchase
I play Destiny 2 also, mostly as a Warlock then Titan - not much into raids or dungeons. 😀 Thank you for your honesty. Since I've been looking for months now, the irritating thing is the interest rate and the over-priced houses.
I'm the dumb cousin Edgar woop woop! I have been buying foreclosure properties since the 2008 recession, I was 20 years old when the housing market crashed and I worked for a seasoned real estate investor that got wrecked by 2008, he went from a multi million dollar real estate portfolio to bankruptcy. Luck is crazy, my real estate success is largely due to being born at the right time.
Dude .. keep doing you man. You give great advice.
Our urgency is very high. My fiancee is transfemme and I'm disabled and we are in an area that is not safe for either of us. We're trying to move to a sanctuary state (we'd also have exponentially better job opportunities in our fields where we're looking). Our finances are in a weird place - we have solid credit, are both in the talks of better positions in our fields (average combined 100k), and the area we're looking at has rent prices that are stupidly high for our needs but we have the pulse on a house that checks all our needs (including accessibility for me) that would be about the same maybe cheaper. But our savings kinda took a hit after I was on bed rest for a month after my last surgery. We're considering inviting our close friends and current roommates to join us at the house in the other state, there's plenty of room, and it'd lift some of the financial burden on it. So imo our urgency is there and our financial is possible. I do have a question if you get past this wall-o-text. In the hypothetical my fiancee and I qualify for the house just the two of us, but our friends agree they want to move with us, do we have to include them on the initial financial documents or can we just say they're tenants after? LOVE your channel, it's helped so much with my approaching this.
Housing is the most depressing thing I pay any attention to.
Free knowledge and game here, thanks for sharing the information, the crazy housing “shortage” within the last 2 years is now over and market definitely shifted to buyers market. I definitely feel I bought at wrong time (last year) but was a necessity with new baby. Only thing I felt good about is interest rate at the time, nearly half what it is now!
Can I ask why you feel you bought at a wrong time?
Everyone is going to "lose equity" - not just new home buyers. So do you want to lose 100% equity by renting, lose a massive amount of equity by buying a huge house, or lose a little equity by buying a smaller and less expensive home? The answer is easy - buy the least expensive home you can.
You won me over when you mentioned you played Destiny 2 (I just subscribed.). Now the real question is do you main a Titan, Warlock or a Hunter? 👀 Very important detail here Guardian and I need to know lol.
But definitely good info and things to think about. I’ve decided I want to buy. However, I’m not rushing and decided to hold off another year and see where the market is and continue to build my reserves. Thanks for a great video Curly Haired Guardian Babe.
Has the target been getting closer? You talked about how the target of home buying was getting farther and father away in a video 3 months ago “My thoughts on housing affordability…”
Would love to hear if your opinion has changed
Thank you it’s like asking a car dealer if you need to buy a car today .All they think is commission.
Daaaag, I'm so bummed right now seeing this video 😭...I moved in with my boyfriend last year to save for a down payment. I've been stalking houses and finally found one I absolutely love! But he's allowing me to stay as long as I want. So yes, it could help to save more. But my job is solid and I just found out I can get this place with a USDA no money down loan. So although I don't have to rush, I simply wonder if l'll be forever regretting not buying this home by the lake that I've been dreaming of?? I've got your sweet little angel face on one shoulder and your little devil spawn (taco eating) one on the other!! 😅
In California especially in Los Angeles, Orange County and Inland Empire prices are not going down