US equities moving higher would be on news for 2024 of US economy slowing down big time. This will impact real estate negatively more than any other asset class. Short copper strong sell.
I'm in Michigan, and the housing market here over the past 7-8 years has been unprecedented. Houses that were purchased for $130K in 2015 are now going for $590K. These are tiny, poorly constructed 950-square-foot homes in quiet, mediocre neighborhoods. Meanwhile, nicer, average-sized homes in better neighborhoods that were over $300K a decade ago are now selling for $750K+. It's wild.
A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advice but get buying, cash isn’t king at all in this time!
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
The decision on when to pick an Adviser is a very personal one. I take guidance from ‘’Jessica Lee Horst’’ to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
@@Steven-u2u I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
For newbies, be aware that this is a grossly oversimplified scenario. For one thing, you can't get a mortgage on an investment property without at least 25% down payment. Two, it's easy to see comps for house purchase prices, but it takes a lot of research to understand the comps on rent prices. The trick is to find a place where renting is more expensive than buying, but those places are less common because of this very type of scenario. Three, you have to remember that rent number he's using is supposed to be net income, not gross. So you have to think about costs for taxes, insurance, maintenance and vacancy when you're researching investments. All that said, real estate investing is a good tool for wealth accumulation. But it isn't foolproof.
Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Recently, I have been exploring the possibility of consulting with advisors. As a mature individual, I am in need of guidance, but I am curious to know how truly impactful their services can be?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
In the early 1990s, when I bought my first home in Miami, first mortgages often came with rates of 8 to 9% and 9% to 10%, which was quite common. It's important to consider that we may never return to 3% rates. If sellers are compelled to sell, home prices may need to decrease, leading to lower valuations. I believe many others share this line of thinking.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Sonya Lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
consider moving your money from the housing market to financial markets or gold due to high mortgage rates and tough guidelines. Home prices may need to drop significantly before things stabilize. Seeking advice from a financial advisor who understands the market could be helpful in making the right decisions.
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Mortgage rates are currently at an all time high since 2000(24 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market
The stock market is no different, to maintain profit you need to have some in-depth knowledge on the market. I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
In my opinion, it was much easier investing back in the 80s but it’s a lot trickier now, those making consistent profit in these times are professionals reason I’ve been using an advisor for the past 5 years to consistently build my portfolio in preparations for retirement.
Finding financial advisors like “Sharon Ann Meny” who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
It's likely going to grow worse. Housing that is affordable will soon become unaffordable. Consequently, I will encourage everyone who wants to take action to take it now, as today's prices will appear to be lower than they are tomorrow. I believe that we will witness hysteria as a result of unchecked inflation until the Fed takes additional action. The band-aid cannot be torn off halfway.
The new mortgage rates are crazy, add to that the recession and the fact that mortgage rules are getting more difficult, and home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. For now, get your money (as much as you can) out of the housing market and get into the financial markets or gold. If you are at a cross roads or need honest advice on the best moves to take now, it is best to seek an independent advisor who knows about the financial markets.
'Sharon Ann Meny' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I find this informative, curiously explored Sharon on the web, spotted her consulting page, and was able to schedule a call session with her, she shows quite a great deal of expertise from her resume.. very much appreciated
In the current economic climate, a home is not the best investment. I've already sold my Boca Grande area home, but I want to invest roughly $200,000 in stocks since I've heard that even in challenging times, investors may turn a profit. Any excellent ideas for stocks?
The truth is that if you make the right picks, you could make killer riches very quickly, although such profit usually needs expertise, as in hedge funds or financial managers. I personally prefer the latter.
I agree. Based on personal experience working with an investment advlsor, I currently have $985k in a well-diversified portfollo that has experienced exponential growth. It's not only about having money to invest in st0cks, but you also need to be knowledgeable.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Annette Christine Conte is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just googled her and I'm really impressed with her credentials; I reached out to her since l need all the assistance l can get. I just scheduled a caII.
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighbourhoods. Then you’ve got Better, average sized homes in nicer neighbourhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
Personally, I can connect to that. When I began working with a fiduciary financial counsellor, my advantages were certain. I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2021 this time with guidance, Long story short, its been 2years now and I’ve gained over a million dollars following guidance from my investment adviser.
This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
I often wonder how top level investors are able to become millionaires by investing. Just made a home sale and I’ve been sitting on about $545K equity, not sure where to go from here. Is it a good time to buy into stocks or do I stay 100% cash?
the stock market this year is at an all time high and a good number of folks raking in huge 6 figure gains, tho such strategies are most times successfully executed by folks with in-depth market knowledge
True, despite having no prior investing knowledge, I got fully invested before the pandemic and pulled in a profit approximately $150k that same year. In reality, all I was doing was getting professional advice, and as of today, I'm only 10% shy of a million dollar pfl.
@@arlenehill4ril truly appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor... mind sharing info of this professional guiding you please?
thankfully googled Karen Lynne Chess and was able to schedule a call session via her consulting page, she seems very professional from her resumé with over two decades of experience
my wife and I own single home family rentals. we have $200,000 left on mortgages. We are now the possibility of maintaining $70,000 annual income by selling and investing in stocks and bonds. How does this work out?
Certainly I have, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’monica Mary strigle ” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
If anything, it's likely to get worse. Affordable housing will soon become unaffordable. Therefore, I advise taking action now because today's prices will seem like bargains tomorrow. Until the Fed takes more decisive action, I expect we will see hysteria due to rampant inflation. You can't just halfway rip the band-aid off.
In the early 1990s, when I bought my first home in Miami, it was common for first mortgages to have rates between 8% and 10%. It's important to recognize that we may never see 3% rates again. If sellers are forced to sell, home prices might need to drop, resulting in lower valuations. I believe many people share this perspective.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Rachel Sarah Parrish is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Amazing info! I downloaded the app and have saved thousands of dollars w the info provided. Love it! You are soo knowledgeable Nick… You are a national treasure!!
I made roughly $250K when I sold a flat in Springfield. My ordinary savings account yielded only $171 in interest, which infuriated me. I was encouraged to invest in stocks after conducting some study. Are these stocks an excellent place to start?
Although the stock market is exciting and can yield a healthy return on investment, professional advice is necessary for efficient portfolio management to prevent market burnout due to its extreme volatility.
I opened a 5.12863% interest compounded daily online high-yield savings account with the expectation of receiving $2,500 in interest on my initial $50,000 deposit at the end of the month. Rather, I was given just $420. The interest is calculated daily, which is not made plain on the internet, I was informed when I asked. After my spouse suggested that I use an advisor to switch to equities, I saw over 80% capital growth-not including dividends-in just six months. Strongly advised!
"Melissa Jean Talingdan" is her name. Simply look up the name. The information you need to work with a letter to schedule an appointment would be included.
I left CA. Now in NV. So far so good. Sold old house bought two years old much nicer in nice area. I owned the house I sold bought new one I now own it. Like where I am at . Feel safe here.
I live in Southern California....market is insane. my home is now worth almost a million dollars....I paid 197 thousand for it years ago. I don't care what the prices are. I bought my home to live in, not as an investment. let housing go to zero....I don't care, aint gonna change my situation.
I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024
Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
My CFA ’ANGELA LYNN SCHILLING’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
They will, just gotta be patient. People see what's coming, hence the higher inventory levels than pre-pandemic. Next comes 10+% unemployment unfortunately. Home values are going to drop a LOT more than 40%.
Prices wont go down 40%. They didnt fall that far in the GFC. And if they start to fall close to 20% on average, the FED will print TRILLIONS upong TRILLIONS to make sure it stops.
The fed doesnt want high inflation but they tolerate it. The just dont want runaway inflation. But they would accept 10% inflation over 10% deflation 100 days out of 100. They would buy 100 printers to make sure this doesnt happen. And I know they're not "printing" but you get it.
I wouldn't have any magic number like that, you might miss out. In the long term the dollar isn't goign to be worth more, they are still pumping dollars into the economy with deficit spending. If you look at a home in nashvilel that is already 10% off peak and if it went down another 15% that would be called a 25% drop or a crash - but it won't feel like one. The drops will be slow, it'll still feel like it's expensive, but a 25% drop is a correction and could be all you get.
I dont generally follow the shovel sellers youtuber but this kid is sharing really useful data !! He goes around real time places, surveys and shares the real shit ! Very useful for folks .. Keep going kid
Our country has a lot of problems in this housing market for buyers wanting to purchase the first home. So much to consider and nice to have information to help make the best decision.
Thank You for keeping us up to date on Real Estate. If i May ask; do you think the Vegas area median price will reach the median price of the Denver Colorado area? Because I DO. Thannks again, my friend.
I live just outside Denver. Townhomes/Condos start at between 375,000 - 389,000 with a $275 - $389 a month HOA fee. Homes start at $475,000 and have a $78 - $128 HOA fee. Property taxes have doubled in some cases over the last 2 years. Home owners and car insurance prices are starting to go up... not California or Florida territory but it's creeping due to fires and hail damage. Water scarcity will be an issue soon because of the growing population, they aren't building enough reservoirs and they're depleting the natural water sources.
Slight price fluctuations, but not corrections. There aren't enough foreclosures to induce a crash outside of extremely high priced demographics. Your cookie-cutter home prices aren't going to come down. We have the lowest foreclosure rate in 20 years. It took nearly 5 years of rising foreclosures to produce 2008.
@@vladimirofsvalbard9477 It's a fallacy to think that foreclosures are a necessary ingredient when they simply aren't. Credit bubbles always collapse under their own weight due to the diminishing amount of credit-worthy people (or simply people who are willing to borrow for very inflated assets). Foreclosure is ONE mechanism, but forced sales will do the job too, just more slowly. There are places in this country that are already down 20% from peak, and that's without a foreclosure wave, a stock market rally for the ages and with the economy still posting decent numbers.
@@tjnguyen2149 Inventory is still ridiculously low. I am impressed by the amount of people able to postpone life events indefinitely. Anyone waiting to buy in LA/OC is probably better off learning to speak Texan...decent shelter for 250k as far as the eye can see. I am seeing signs of weakness in Bakersfield, Victorville and even as close as Corona. But the basin(s) themselves are still near or at peaks.
I feared a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest $300k there about, but I'm not sure on how to mitigate risk.
Consider reallocating from real estate to stocks. Severe recessions offer market buying opportunities with caution, as volatility can yield short-term trading prospects. Not financial advice but it may be wise to invest, as cash isn't ideal in this period. I simply adopted the service of an advisor early 2020 amid covid-outbreak, and so far, I've attained my most measurable financial milestone of over $900k after subsequent investments
Actually people downplay planners role, until being burnt by their mistakes. Just saying the benefit of a financial fiduciary can never be over emphasis.
I envy you, I’m still trying to recover from losses I incurred in 2021/2022, who is this investment advisor you work with, I’m intrigued and I could use some quality guidance.
Cape Coral FL - housing inventory is 26% higher than pre-covid levels. Absolutely massive price crash coming there first, identical to 2008. Cape Coral and Palm Bay FL both dropped 65% in value from 2008-2010. Now both of those places have seen prices go up 550% since 2010 and over 110% from just May 2020 to October 2022.
@@CroisMoi This is not correct, I live in Cape Coral for 25 years this area was no devasted by Ian,Fort Myers Beach if you drive around Cape Coral today you will noy see much evidence of damage from hurricane Ian
The best investing tip is to detach your emotions from the investment. You don’t need a great mind to invest, but rather a great stomach, to deal with all the volatility
Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again.
Realtors all over the country “prices will never go down again”. People watching the revenue consulting channel “sure…” greetings from Jacksonville, Florida
Prices nationwide will never go down unless some major black swan event happens. Sure local pull backs happen, but the market as a whole has only gone down twice 100 years. Great depression and Great recession.
@@xisigma think so. I believe after six months the sellers will realize that this is not a sellers market and they will drop prices. They have no option. Otherwise they will be stuck with homes that they want to sell and that they are not selling.
@@kylegrant9980 Go buy a bunch if you feel that confident. Just kidding....I feel they are way over inflated. No way are these worth what they have listed...Just my feelings.
Hi Nick, what’s your opinion on Charlotte, NC? I don’t see Charlotte ranking on many lists of overvalued cities, but maybe they’re behind many other metros. I live in SWFL and I definitely agree with you on Cape Coral/ Ft Myers and the other cities you mentioned here in Florida. Overvalued properties, property taxes way up, homeowners insurance way up, locals cannot afford these prices. FL is in trouble.
Regarding Huntsville, thousands of well-paid Army civilian positions were moved there due to base closings. Many of those employees can now retire and move either back home or to their preferred retirement locations.
Not many surprises in this list given the fact that these are the metro areas that experienced some of the biggest price gains over the last several years, so it stands to reason that the prices would pull back a bit to their equilibrium level.
$1.4 Trillion GDP Los Angeles's real estate market is still rock solid and always will be. I hear all those Californians who left for Florida and Texas, both of who's real estate markets are cratering, are all coming back. LA never misses a beat. 💪
I have been following your channel i must say i love the houses and they are worth it, soon i will come to patronise you, but here I bring you good news, I'm 47yrs old $73,000 biweekly and I'm retired, this video have inspired me greatly in many ways!!!
If you were born and raised in new York you'd know too, she's my family's Broker for 3yrs till now and a very good one if you asked me. No doubt she is the one that helped you get where you are!!!!
It's a miracle and I would testify, 110K bucks every 4weeks! I now have a big mansion and can now afford anything and also support God's work and the church.
I wish you analyzed why prices are going down in these cities more. Cape Coral(and most of southeast FL) got absolutely smashed by hurricane Ian and still hasn’t recovered. There are still 10s of thousands of open home insurance claims that the companies are fighting not to pay or simply out of business.
Florida hurricane season starting too. Supposed to have higher than usual hurricanes this year as well too. Get a couple of those going cross the state the market is likely to keep going. Ian was bad.
Interesting info. Have you ever done a "talk to the people" about their views on HOA's? IMHO: people are FED UP w/costly HOA's & many of which are 'do little to nothing' for the PEOPLE. I read an article recently where people are moving OUT & AWAY from housing divisions w/HOA's; many of which are building their own communities w/like minded people. Sounds like a New Trend could be occurring.
HOA fees can be a deal breaker. One community in Queen Creek, AZ that we were considering has a monthly HOA fee of $197. As such, the homes themselves are worth a little less, and sit on the market longer. Sure, the community pool and kids park are amazing... but, no thanks... nearby communities HOA fees are around $80. They just don't have a pool, so you can't swim in your neighbors pee 😂
Homes that people bought in 2022 for $500k + were only about $40k-$60k in 2019. I bought my property in 2013 for $360k, 3100sf home 4 bedroom 3 bath, 30+ fenced acres. Some crazy realtor told me my house was worth $6M in 2021. Most homes around here only go up in average between $10k-$20k/year. I live 2.5 hours away from Austin, TX. One of my good friends who lives closer to Austin out her house up for sale in 2021 for $359k. Bunch of Californians went in a bidding war and the end price was $875k. The people who bought it in2021 put it on the market in January 2023 for $1.2 M. Last time I checked the price was down to $675k and nobody is buying it. The dumb money never stopped
Neither do "Dumb People" the FOMO in 2021 was one of "The" biggest jokes I ever seen. Now the same over priced home will sell for much less and the rates are double what they paid, it was a "trap'" People are paying over 40% of their income for rentals and mortgage payments, not a good outcome. 😧
Sold mine at peak, flipper put >$160K upgrades, Never sold, Zillow now had it below my sell. Downsized, rented, doubled equity in energy. Use this site to move & buy after election.😮
Thank you very much for your hard work providing valuable information about Realstate, would you please make a video specifically about DC and northern Virginia region. We don’t have really solid information about the housing market, we just see the inventory is pilling up and some seller cut their listing price. Builders have a bunch of houses but they listing not all of it they just list one or two when you go to the new community you can see all houses is empty, seller list their house and remove it and then they relist it and jack up the price.
You did a balanced analysis in this presentation. Good job. Adding to these cities's distress is the overbought stock market -- primarily a tech mania, and once the stock market corrects downward (50% of states are in recession) due to recessionary conditions, then this will add further to the downward price pressure in housing where supply is greater than demand. Buyer manias never disappear throughout history, and we are in one now.
Here, here! I’m moving out of Orlando, Florida as it’s gotten too expensive, i.e. my rent doubled in 2022-2023. It was due to Disney moving from Burbank, California to Lake Nona, Florida the area where I lived. $1080-$1800 a month is ridiculous. The rents around Orlando went up 40-50% as a result. New homes and apartment buildings in and around Orlando metro does continue, but has slowed down to only half as much as is was in 2021. Disney cancelled last year causing the landlords to now do concessions not price reductions, which is positive however, the locals cannot qualify nor afford 3 times the rent of $1500-$1800 a month in rent. Too expensive, too much traffic, too crowded everywhere now, grocery prices have nearly doubled, has now caused me to look around out of state by the end of the year. It feels like an East coast California all over again for me.
Friend from Florida tells me that Orlando also has many Venezuelans, Puerto Ricans, and other countries living 3+ families to a house. That’s how they can afford a house.
Starting to see some flips have to make price cuts as they have started to default. Vendor sent out a report that about 8 percent of sold were recent flips or those cash buyers, however I expect that to slow down as we are starting to see more pressure with DOM on the rise.
Listed house for $430k on 4/29. Lowered price to $399k, $375k then $360k. After 51 days on market accepted an offer for $340k. $90k below original list per recommendation of realtor. Thankfully this was a flip I ended up living on for 3+ years. Paid $85,000 and did complete interior remodel including finishing the basement. I am going to make good money at this price but had I listed last year I could have made more. Also, no rent for past 3 years. Win, win. Homes in this range in my area are sitting on market for 6 months or more. Not good.
As you likely know, a 7% mortgage payment is almost 50% higher than a 3.5% mortgage payment. This is absolutely brutal for buyers, even ones with good incomes. In my example, the sales price price must go down 33% for the 7% payment to be the same as the 3.5% payment.
This is good news. Let them keep crashing down. I'm totally OK with this. Kissimmee/Orlando is far far over priced! There is no way our home is worth 650k, sorry. 400s maybe sure but not mid 600s. We wanted to sell and move but honestly it's not worth moving right now unless we absolutely had to.
In the Tampa area I don’t think builders were previously listing their properties. Now there are a lot of listings from builders. That would account for a lot of the inventory increase as they have been building like crazy. Not sure how easy it will be to find out how much this accounts for, but I’ll see what I can find today and post a reply.
I’m in Central Florida, Palm Bay, houses are sitting for months. I see them coming off market and listing as a rental and these are brand new homes. Developers are still building like crazy
Why are developers doing this? It seems like they'll be stuck holding a lot of inventory and will eventually be forced to liquidate at a loss. Is there something they know that we don't?
I see this a lot in saint Johns county. But sellers are refusing to stop the price anything meaningful (more than 10k). Then it just sits and sits OR it magically goes in pending
I live in a North Dallas suburb that everybody was flocking to banging on peoples doors to purchase a house, and there are so many new listings. It’s ridiculous.
I’m in San Antonio and most of those overbuilt areas in the 400/700 K range. But high end homes over a mil are still selling very well. Especially in Boerne 30 miles demo SA.
The housing market is inflated and oversaturated with homes being on the market with astronomical price tags just stagnant for months. It is very clear that our generation will be likely one of the most devastating bubble pops in modern history. Seeking best possible ways to grow 250k into $1m+ and get a good house for retirement, I'm 48.
I don't think here is the place for personalized investment guidance. However, I suggest consulting with a reliable advisor like Azul to ensure appropriate retirement planning.
I’m closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in over 80% profit than some of my peers who have been investing for many years. Maybe you should consider this too
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
I live in Gainesville Ga the lady is selling the house we rent for 360k the house was built in 1965 on 1.58 acres and needless to say her well water comes from her next door neighbor and he said when I move out she is going to have to get her own means of water. The house is only worth maybe 150k. Would love to buy a home but it’s way too expensive.
Lol idk why people even bought a house in that H hole and actually thought they’d get an ROI from it. I also don’t know why Californians were trading their houses for house similar in price but in a more toxic environment than California. Now they’re all selling and moving back. Smh.
Please talk about my home town, Greenville SC…..have owned 2 homes here….currently rent….a great deal….but close to retirement and would like to buy a condo in the city but everything is so expensive.
Prices in Denver are definitely dropping. Lots of houses falling out of contract. My inbox is filled with “price reduction” emails. Days on market the longest I’ve seen in a while. There’s more room to go as well. It may not be”crash”, but a correction is in order.
Not in the Atlanta metro area. Everything over 350 & up. I purchased the same house 18 years ago for 169k with mortgage squared footage. I know times have changed so everything is expensive.
It's certainly concerning to hear about a default cycle, particularly in the housing market. Defaults can trigger foreclosures, which in turn can have a ripple effect on the entire real estate sector.
While it's concerning, it's important to look at the broader economic context. A default cycle doesn't necessarily mean the housing market is completely finished; it might signal challenges, but markets are dynamic, and they can recover.
Yes, that's a possibility. An increase in foreclosures can lead to an oversupply of homes in the market, putting downward pressure on prices. It's the basic principle of supply and demand.
Now might be an ideal moment to reevaluate your financial status. If you're worried about your home's value, consulting a real estate professional or financial advisor could be beneficial.
High interest rate causes house market declining, less people are buying houses. more empty comericial buildings are converted into residential condos wich results in rental declining.After covid, more people are working at home, artificial intelligence technology has eliminated many office jobs, and commercial buildings are vacant and converted into apartments.
With rates climbing like never before in ’23 coupled with uncontrollable inflation, and our own mortgage at now 7.5% what are the best alternatives/strategies for avoiding a crunch and maximize my $200k savings other than moving in to an RV with my two kids and wife.
You are not alone we can no longer afford our mortgage, husband wants us to travel or relocate/I am proposing cashing in, walking away and renting while putting the rest in the stock market.
I believe that for the market to normalize, there must be a minimum 40% decline in home prices. It is advisable that you get advice for appropriate portfolio allocation from a knowledgeable advisor if you are unsure about purchasing a home. That's how I've managed to survive for the past five years and accumulate about $1 million in investment returns.
I would be happy to hire someone with a good reputation. How can I locate and thoroughly check them? We started thinking about the concept because we have a family lawyer who has periodically mentioned fiduciaries and we know how valuable they are.
Marisa Michelle Litwinsky is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I live in North Central Phoenix and the house prices have not dropped much in my neighborhood at all. My next door neighbors paid $1,150,000 for a remodeled with 5 bedrooms and 4 baths house. I had to laugh when they told me there is only one electrical outlet in the remodeled kitchen. High end appliances but the 2 guys that flipped it did not cook so they didn't give any thoughts to needed electrical outlets in the kitchen.
I had problem comprehending trading in general. I tried watching other TH-cam trading channels, but they made the concepts more complicated. I was almost giving up until when i discovered content and explain everything in detail. The videos are easy to follow
Thank you I wish you could focus on mass area . I sold three homes in the last 8 yrs a low market . I bought in a high market . So now I’m with out a home trying to buy . Mean while storage and moving and renovations have also affected my home search . Please if you could try to focus on the NE coast . Thank you so much !
Home prices aren't going anywhere but up most places. Investors will eventually buy everything normal buyers can't afford and no one will own anything.
I live in FL and it isn't anymore crowded than any other state that has seen an influx of people. Yes it is hot in the Summer (which doesn't phase me, as I play tennis in it) for 4 months. I'll trade it any day over cold long or wet winters, no thanks. Florida is great
Great analysis. Your data is focused on supply. On the demand side of the equation, I think prices will need to drop further with interest rates as high as they are. Property taxes and insurance rates have also increased the cost of home ownership. 👍🏼👍🏼
Sun City is at the edge in Phoenix, mostly a older retirement community. The prices always the last to rise and first to fall. Construction in 2005 to 07 was fast and many problems. Location is still the issue other areas are still rising.
I live in a condo in VT. I could likely sell for $175k. I’m a single guy. Where would you recommend where I could buy preferably a house but I’d consider a condo for something in the $80-$120k price range so I could bank some money but also hopefully do the same thing in 3-5 years-in other words see the value of the property rise so I could cash out and move again-or at least have that as an option. Love your videos. You really know the market.
I’m upset bc Phoenix use to be cheap. I went to university there and now that I’m trying to move back and would live to buy a house, everything is so expensive
@@timothygibney159if everyone rushes to buy & sell when rates drop, that means the market will be more competitive and people can negotiate. Prices should come down more. And right now the fed is planning on dropping rates when it is not home selling season. Also, that will be the time of year people start selling to cover their debt. So people will get desperate and prices will drop
@@timothygibney159spot on, it’s a double edged sword, if you wait for rates to drop you are waiting for massive competition.. over asking offers, waived appraisals and or all cash offers… it will be 2019-2022 again. Better off buying while rates are higher getting into the home and dealing with the rates after the fact
I have not looked at Zillow for a few years. But when I was a realtor, Zillow was accurate to within +/- 25%. So if Zillow says a home is worth $200k - it's real value (what it can sell for) is between $150 and $250.
It’s not an estimate of anything at all. They raise the price to within +/- a few percent of whatever the seller lists it at. On a related note, they consistently understate the property taxes by about 40-50%.
100%. Zillow and Redfin, with the help of the NAR, are price fixing the market. Absolutely criminal behavior. Just take a look at who owns them... BLACKROCK.
Never would be someone trying to get top dollar. We had a county representative want 30 percent plus of new development to have housing restrictions but sadly never got back to me if he would put the same restrictions on his properties in the name of affordable housing.
Interesting information. Thank you. Just listened to a couple of folks from Florida. Verified a wall of condo inventory. HOA and insurance increase costs are being passed on to the owners. And they’re on fixed incomes. Oops.
Buying opportunities are coming in many of these cities.
www.reventure.app to track inventory, price cut, and valuation trends.
US equities moving higher would be on news for 2024 of US economy slowing down big time. This will impact real estate negatively more than any other asset class. Short copper strong sell.
Unfortunately, the worst is yet to come 😭!!!!!
Can you give me your thoughts on Syracuse, NY. Last week you were showing some of the lowest inventorys in the country. Its a tough market here.
Watch out for people pretending to be re:_YT
@@Mike_257right cause mortgage companies & investors took advantage of people’s financial problems after COVID & stole folks homes
I'm in Michigan, and the housing market here over the past 7-8 years has been unprecedented. Houses that were purchased for $130K in 2015 are now going for $590K. These are tiny, poorly constructed 950-square-foot homes in quiet, mediocre neighborhoods. Meanwhile, nicer, average-sized homes in better neighborhoods that were over $300K a decade ago are now selling for $750K+. It's wild.
A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advice but get buying, cash isn’t king at all in this time!
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
The decision on when to pick an Adviser is a very personal one. I take guidance from ‘’Jessica Lee Horst’’ to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
@@Steven-u2u I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
For newbies, be aware that this is a grossly oversimplified scenario. For one thing, you can't get a mortgage on an investment property without at least 25% down payment. Two, it's easy to see comps for house purchase prices, but it takes a lot of research to understand the comps on rent prices. The trick is to find a place where renting is more expensive than buying, but those places are less common because of this very type of scenario. Three, you have to remember that rent number he's using is supposed to be net income, not gross. So you have to think about costs for taxes, insurance, maintenance and vacancy when you're researching investments. All that said, real estate investing is a good tool for wealth accumulation. But it isn't foolproof.
Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Recently, I have been exploring the possibility of consulting with advisors. As a mature individual, I am in need of guidance, but I am curious to know how truly impactful their services can be?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
In the early 1990s, when I bought my first home in Miami, first mortgages often came with rates of 8 to 9% and 9% to 10%, which was quite common. It's important to consider that we may never return to 3% rates. If sellers are compelled to sell, home prices may need to decrease, leading to lower valuations. I believe many others share this line of thinking.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Sonya Lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just curiously searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you
10 Nashville TN
9 Dallas TX
8 Phoenix AZ
7 Huntsville AL
6 San Antonio TX
5 Tampa/St Petersburg FL
4 Cape Coral/Ft Meyers FL
3 Austin TX
2 Denver CO
1 North Port/Sarasota FL
thanks, i ain't got time for all that...
You forgot California
Just sold in Huntsville. 😂. New builds were going for $275/sqft
@@z-z-z-z Why are you on a video site if you don't want to watch a 15 min video? lol Weird....
Because it's BS
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
consider moving your money from the housing market to financial markets or gold due to high mortgage rates and tough guidelines. Home prices may need to drop significantly before things stabilize. Seeking advice from a financial advisor who understands the market could be helpful in making the right decisions.
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
Mortgage rates are currently at an all time high since 2000(24 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market
The stock market is no different, to maintain profit you need to have some in-depth knowledge on the market. I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
In my opinion, it was much easier investing back in the 80s but it’s a lot trickier now, those making consistent profit in these times are professionals reason I’ve been using an advisor for the past 5 years to consistently build my portfolio in preparations for retirement.
My partner’s been considering going the same route, could you share more info please on the advisor that guides you
Finding financial advisors like “Sharon Ann Meny” who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
It's likely going to grow worse. Housing that is affordable will soon become unaffordable. Consequently, I will encourage everyone who wants to take action to take it now, as today's prices will appear to be lower than they are tomorrow. I believe that we will witness hysteria as a result of unchecked inflation until the Fed takes additional action. The band-aid cannot be torn off halfway.
The new mortgage rates are crazy, add to that the recession and the fact that mortgage rules are getting more difficult, and home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. For now, get your money (as much as you can) out of the housing market and get into the financial markets or gold. If you are at a cross roads or need honest advice on the best moves to take now, it is best to seek an independent advisor who knows about the financial markets.
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
'Sharon Ann Meny' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I find this informative, curiously explored Sharon on the web, spotted her consulting page, and was able to schedule a call session with her, she shows quite a great deal of expertise from her resume.. very much appreciated
In the current economic climate, a home is not the best investment. I've already sold my Boca Grande area home, but I want to invest roughly $200,000 in stocks since I've heard that even in challenging times, investors may turn a profit. Any excellent ideas for stocks?
The truth is that if you make the right picks, you could make killer riches very quickly, although such profit usually needs expertise, as in hedge funds or financial managers. I personally prefer the latter.
I agree. Based on personal experience working with an investment advlsor, I currently have $985k in a well-diversified portfollo that has experienced exponential growth. It's not only about having money to invest in st0cks, but you also need to be knowledgeable.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Annette Christine Conte is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just googled her and I'm really impressed with her credentials; I reached out to her since l need all the assistance l can get. I just scheduled a caII.
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighbourhoods. Then you’ve got Better, average sized homes in nicer neighbourhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
Personally, I can connect to that. When I began working with a fiduciary financial counsellor, my advantages were certain. I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2021 this time with guidance, Long story short, its been 2years now and I’ve gained over a million dollars following guidance from my investment adviser.
This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
I often wonder how top level investors are able to become millionaires by investing. Just made a home sale and I’ve been sitting on about $545K equity, not sure where to go from here. Is it a good time to buy into stocks or do I stay 100% cash?
the stock market this year is at an all time high and a good number of folks raking in huge 6 figure gains, tho such strategies are most times successfully executed by folks with in-depth market knowledge
True, despite having no prior investing knowledge, I got fully invested before the pandemic and pulled in a profit approximately $150k that same year. In reality, all I was doing was getting professional advice, and as of today, I'm only 10% shy of a million dollar pfl.
@@arlenehill4ril truly appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor... mind sharing info of this professional guiding you please?
Karen Lynne Chess is the advisor I use. Just google the name. You’d find necessary details to work with and set up an appointment.
thankfully googled Karen Lynne Chess and was able to schedule a call session via her consulting page, she seems very professional from her resumé with over two decades of experience
my wife and I own single home family rentals. we have $200,000 left on mortgages. We are now the possibility of maintaining $70,000 annual income by selling and investing in stocks and bonds. How does this work out?
Real estate is a solid investment but demands effort and lacks liquidity compared to stocks and bonds. Long-term market trends should guide decisions.
Considering the sell and invest option? It's essential to consult a reliable financial planner to ensure income projections align with your goals.
have you worked with a financial planner ? if yes , how was it? care to share your experience
Certainly I have, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’monica Mary strigle ” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Portfolio grew 200% thanks to her guidance!
If anything, it's likely to get worse. Affordable housing will soon become unaffordable. Therefore, I advise taking action now because today's prices will seem like bargains tomorrow. Until the Fed takes more decisive action, I expect we will see hysteria due to rampant inflation. You can't just halfway rip the band-aid off.
In the early 1990s, when I bought my first home in Miami, it was common for first mortgages to have rates between 8% and 10%. It's important to recognize that we may never see 3% rates again. If sellers are forced to sell, home prices might need to drop, resulting in lower valuations. I believe many people share this perspective.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Rachel Sarah Parrish is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I searched for her name on the internet, found her page, and reached out via email to schedule a conversation. Thank you.
Amazing info! I downloaded the app and have saved thousands of dollars w the info provided. Love it! You are soo knowledgeable Nick… You are a national treasure!!
I made roughly $250K when I sold a flat in Springfield. My ordinary savings account yielded only $171 in interest, which infuriated me. I was encouraged to invest in stocks after conducting some study. Are these stocks an excellent place to start?
Although the stock market is exciting and can yield a healthy return on investment, professional advice is necessary for efficient portfolio management to prevent market burnout due to its extreme volatility.
I opened a 5.12863% interest compounded daily online high-yield savings account with the expectation of receiving $2,500 in interest on my initial $50,000 deposit at the end of the month. Rather, I was given just $420. The interest is calculated daily, which is not made plain on the internet, I was informed when I asked. After my spouse suggested that I use an advisor to switch to equities, I saw over 80% capital growth-not including dividends-in just six months. Strongly advised!
How can I meet this adviser, please? I need assistance investing my divorce settlement because it's now sitting in the bank earning little interest.
"Melissa Jean Talingdan" is her name. Simply look up the name. The information you need to work with a letter to schedule an appointment would be included.
She has a fairly impressive background in investing, based on my curious web search. I'm going to email her right now.
Alot of Californians moved to these places just to find out the grass isn't always greener
I left CA. Now in NV. So far so good. Sold old house bought two years old much nicer in nice area. I owned the house I sold bought new one I now own it. Like where I am at . Feel safe here.
This guy is a very good presenter. Easy to listen to and to understand. Good job.
He also is in your face a lot I have to mute it.
Go back to 2021, he said the crash is coming and wait it out. 😂 and it only went up another 25% with interest doubled 😅
Full of shit he is.
@HJJTsai this ☝️ The guy has been pumping the same real estate "crash" propaganda for over 3 years. He should be good at "presenting" it
@@HJJTsaiso when property tax, insurance & interest rates double... You're going to love it?
I live in Southern California....market is insane. my home is now worth almost a million dollars....I paid 197 thousand for it years ago. I don't care what the prices are. I bought my home to live in, not as an investment. let housing go to zero....I don't care, aint gonna change my situation.
Except the taxes on the inflated value. All the best.
I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024
Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
My CFA ’ANGELA LYNN SCHILLING’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Wow some of these cities dropping prices are shocking!! Great video!
12% home price cuts ain't good enough. For a green light to buy home prices need to plummet down to at least 40%
They will, just gotta be patient. People see what's coming, hence the higher inventory levels than pre-pandemic. Next comes 10+% unemployment unfortunately. Home values are going to drop a LOT more than 40%.
@@enthused7591except the places they dont
Prices wont go down 40%. They didnt fall that far in the GFC. And if they start to fall close to 20% on average, the FED will print TRILLIONS upong TRILLIONS to make sure it stops.
The fed doesnt want high inflation but they tolerate it. The just dont want runaway inflation. But they would accept 10% inflation over 10% deflation 100 days out of 100. They would buy 100 printers to make sure this doesnt happen. And I know they're not "printing" but you get it.
I wouldn't have any magic number like that, you might miss out. In the long term the dollar isn't goign to be worth more, they are still pumping dollars into the economy with deficit spending. If you look at a home in nashvilel that is already 10% off peak and if it went down another 15% that would be called a 25% drop or a crash - but it won't feel like one. The drops will be slow, it'll still feel like it's expensive, but a 25% drop is a correction and could be all you get.
I dont generally follow the shovel sellers youtuber but this kid is sharing really useful data !! He goes around real time places, surveys and shares the real shit !
Very useful for folks .. Keep going kid
He does provide truth. A valuable commodity when everyone is lying.
Our country has a lot of problems in this housing market for buyers wanting to purchase the first home. So much to consider and nice to have information to help make the best decision.
Appreciate ur hard work and content❤much love❤
... And always remember to watch the Days On Market data! That's the #1 indicator of where it's heading.
Thank You for keeping us up to date on Real Estate. If i May ask; do you think the Vegas area median price will reach the median price of the Denver Colorado area? Because I DO. Thannks again, my friend.
I live just outside Denver. Townhomes/Condos start at between 375,000 - 389,000 with a $275 - $389 a month HOA fee. Homes start at $475,000 and have a $78 - $128 HOA fee. Property taxes have doubled in some cases over the last 2 years. Home owners and car insurance prices are starting to go up... not California or Florida territory but it's creeping due to fires and hail damage. Water scarcity will be an issue soon because of the growing population, they aren't building enough reservoirs and they're depleting the natural water sources.
Thanks for the update Nick!!! Patiently waiting in rural Colorado for an opportunity to buy!
Great news! Looking forward to a buying opportunity in next 6 months.
Awesome video. Signed up for your app, cool tool! However, Colorado is not the west coast lol
That’s what I said. I lived in Colorado Springs back in 1979. I was thinking to myself, since when the hell was Colorado considered the West Coast?
The first to rise, the first to fall. I expect corrections throughout the nation.
Expectations are fine but the reality will be totally different.
It has not happened in OC, CA yet.
Slight price fluctuations, but not corrections. There aren't enough foreclosures to induce a crash outside of extremely high priced demographics. Your cookie-cutter home prices aren't going to come down. We have the lowest foreclosure rate in 20 years.
It took nearly 5 years of rising foreclosures to produce 2008.
@@vladimirofsvalbard9477 It's a fallacy to think that foreclosures are a necessary ingredient when they simply aren't. Credit bubbles always collapse under their own weight due to the diminishing amount of credit-worthy people (or simply people who are willing to borrow for very inflated assets). Foreclosure is ONE mechanism, but forced sales will do the job too, just more slowly. There are places in this country that are already down 20% from peak, and that's without a foreclosure wave, a stock market rally for the ages and with the economy still posting decent numbers.
@@tjnguyen2149 Inventory is still ridiculously low. I am impressed by the amount of people able to postpone life events indefinitely. Anyone waiting to buy in LA/OC is probably better off learning to speak Texan...decent shelter for 250k as far as the eye can see. I am seeing signs of weakness in Bakersfield, Victorville and even as close as Corona. But the basin(s) themselves are still near or at peaks.
Congrats for the CNBC interview today! Good job.
I feared a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest $300k there about, but I'm not sure on how to mitigate risk.
Consider reallocating from real estate to stocks. Severe recessions offer market buying opportunities with caution, as volatility can yield short-term trading prospects. Not financial advice but it may be wise to invest, as cash isn't ideal in this period. I simply adopted the service of an advisor early 2020 amid covid-outbreak, and so far, I've attained my most measurable financial milestone of over $900k after subsequent investments
Actually people downplay planners role, until being burnt by their mistakes. Just saying the benefit of a financial fiduciary can never be over emphasis.
@@Sharon-Eaton This is quite huge! Much more info needed please, what did you invest in?
I envy you, I’m still trying to recover from losses I incurred in 2021/2022, who is this investment advisor you work with, I’m intrigued and I could use some quality guidance.
@@Sharon-Eaton Can i get the contact of the FA you work with
Hey bro. Thank you for the truth in the market. We need real time truth. The lies in the media and government is scary!
Cape Coral FL - housing inventory is 26% higher than pre-covid levels. Absolutely massive price crash coming there first, identical to 2008. Cape Coral and Palm Bay FL both dropped 65% in value from 2008-2010. Now both of those places have seen prices go up 550% since 2010 and over 110% from just May 2020 to October 2022.
Cape Coral absolutely smashed by hurricane Ian in 2022 and hasn’t recovered. Insurance companies are still fighting not to pay people’s claims.
My dad lives in fort Myers. The hurricane devastated many in Cape Coral. They have still not recovered.
@@CroisMoi This is not correct, I live in Cape Coral for 25 years this area was no devasted by Ian,Fort Myers Beach if you drive around Cape Coral today you will noy see much evidence of damage from hurricane Ian
The best investing tip is to detach your emotions from the investment. You don’t need a great mind to invest, but rather a great stomach, to deal with all the volatility
The fluidity of the market makes the help of an expert indispensable. It is never enough to just watch TH-cam videos and decide to invest
proper research, good analysis and luck is what you need to make profit in this constant market decline.
it's all about finding the right moment to take advantage of and generate colossal profit, which is why you need to do your research
Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again.
My partner’s been considering going the same route, could you share more info please on the advisor that guides you?
Realtors all over the country “prices will never go down again”. People watching the revenue consulting channel “sure…” greetings from Jacksonville, Florida
Prices nationwide will never go down unless some major black swan event happens. Sure local pull backs happen, but the market as a whole has only gone down twice 100 years. Great depression and Great recession.
@@kylegrant9980Is the current personal and national debt sustainable ?
The answer to that question will be the same for the housing market.
Maybe the new norm will be houses sitting on the market for years as both sellers and buyers refuse to blink.
@@xisigma think so. I believe after six months the sellers will realize that this is not a sellers market and they will drop prices. They have no option. Otherwise they will be stuck with homes that they want to sell and that they are not selling.
@@kylegrant9980 Go buy a bunch if you feel that confident. Just kidding....I feel they are way over inflated. No way are these worth what they have listed...Just my feelings.
Hi Nick, what’s your opinion on Charlotte, NC? I don’t see Charlotte ranking on many lists of overvalued cities, but maybe they’re behind many other metros. I live in SWFL and I definitely agree with you on Cape Coral/ Ft Myers and the other cities you mentioned here in Florida. Overvalued properties, property taxes way up, homeowners insurance way up, locals cannot afford these prices. FL is in trouble.
Regarding Huntsville, thousands of well-paid Army civilian positions were moved there due to base closings. Many of those employees can now retire and move either back home or to their preferred retirement locations.
i am enjoying your channel so much. i’m not a professional in real estate but i love hearing your take on things. thank you for your efforts !!!
Not many surprises in this list given the fact that these are the metro areas that experienced some of the biggest price gains over the last several years, so it stands to reason that the prices would pull back a bit to their equilibrium level.
$1.4 Trillion GDP Los Angeles's real estate market is still rock solid and always will be. I hear all those Californians who left for Florida and Texas, both of who's real estate markets are cratering, are all coming back. LA never misses a beat. 💪
I have been following your channel i must say i love the houses and they are worth it, soon i will come to patronise you, but here I bring you good news, I'm 47yrs old $73,000 biweekly and I'm retired, this video have inspired me greatly in many ways!!!
Awesome how do you make such monthly, am a born Christian and sometimes I feel so down 😭 of myself because of low finance but I still believe God😞
It's Maria Angelina Alexander doing she's changed my life. A BROKER- like her is what you need.
I know that woman (Maria Angelina Alexander)
If you were born and raised in new York you'd know too, she's my family's Broker for 3yrs till now and a very good one if you asked me. No doubt she is the one that helped you get where you are!!!!
It's a miracle and I would testify, 110K bucks every 4weeks! I now have a big mansion and can now afford anything and also support God's work and the church.
I wish you analyzed why prices are going down in these cities more. Cape Coral(and most of southeast FL) got absolutely smashed by hurricane Ian and still hasn’t recovered. There are still 10s of thousands of open home insurance claims that the companies are fighting not to pay or simply out of business.
Then it rained 20” just recently. Flood city.
Southwest*
I’m so happy I sold my house in California for a ton of money. Purchased a home in Missouri and the value just keeps going up.😁
I'm sure the locals aren't happy with another l o c u s t
@@annjames1837True. America is such a predatory culture and ultimately, we will pay for it by eating ourselves.
@@annjames1837 the locals are quite happy to get some west coast culture
@@annjames1837 nobody moves to missouri. They're probably happy someone actually did HAHAHAHA. They dont call it Misery for no reason LMAO
I love missouri
This is awesome! People need houses and affordable houses are great for this country. Welcome news.
Florida hurricane season starting too. Supposed to have higher than usual hurricanes this year as well too. Get a couple of those going cross the state the market is likely to keep going. Ian was bad.
By Xmas there won’t be one insurance company
Left in Florida
Interesting info. Have you ever done a "talk to the people" about their views on HOA's? IMHO: people are FED UP w/costly HOA's & many of which are 'do little to nothing' for the PEOPLE. I read an article recently where people are moving OUT & AWAY from housing divisions w/HOA's; many of which are building their own communities w/like minded people. Sounds like a New Trend could be occurring.
HOA fees can be a deal breaker. One community in Queen Creek, AZ that we were considering has a monthly HOA fee of $197. As such, the homes themselves are worth a little less, and sit on the market longer. Sure, the community pool and kids park are amazing... but, no thanks... nearby communities HOA fees are around $80. They just don't have a pool, so you can't swim in your neighbors pee 😂
I can't wait for vegas to make the list
I would enjoy a tutorial video for your app Nick….
You can be very proud of your efforts in putting it all together…nice work..⭐️⭐️⭐️⭐️⭐️
Homes that people bought in 2022 for $500k + were only about $40k-$60k in 2019.
I bought my property in 2013 for $360k, 3100sf home 4 bedroom 3 bath, 30+ fenced acres. Some crazy realtor told me my house was worth $6M in 2021.
Most homes around here only go up in average between $10k-$20k/year.
I live 2.5 hours away from Austin, TX.
One of my good friends who lives closer to Austin out her house up for sale in 2021 for $359k. Bunch of Californians went in a bidding war and the end price was $875k. The people who bought it in2021 put it on the market in January 2023 for $1.2 M. Last time I checked the price was down to $675k and nobody is buying it.
The dumb money never stopped
Neither do "Dumb People" the FOMO in 2021 was one of "The" biggest jokes I ever seen. Now the same over priced home will sell for much less and the rates are double what they paid, it was a "trap'" People are paying over 40% of their income for rentals and mortgage payments, not a good outcome. 😧
Got that right Jessica - "The dumb money never stopped"
Sold mine at peak, flipper put >$160K upgrades, Never sold, Zillow now had it below my sell. Downsized, rented, doubled equity in energy. Use this site to move & buy after election.😮
Haha that's nuts they are delusional for overpaying that much
Thank you very much for your hard work providing valuable information about Realstate, would you please make a video specifically about DC and northern Virginia region. We don’t have really solid information about the housing market, we just see the inventory is pilling up and some seller cut their listing price. Builders have a bunch of houses but they listing not all of it they just list one or two when you go to the new community you can see all houses is empty, seller list their house and remove it and then they relist it and jack up the price.
Builders are going to learn that people who play stupid games win stupid prizes.
Denver has collapsed. Live from the ground, I have 4 vacant homes on my street.
That's what happens when voting blue no matter who comes into town
Give it two weeks and they’ll all be under contract.
@@yaegermeister4307 oh? do voting red will keep prices going up? what a stupid alternative. Stop freaking being political and whiny.
@@Del_987do you live there?
It got to pricey to live in Colorado.
You continue to provide the best information for the housing market. Keep up the good work.
You did a balanced analysis in this presentation. Good job. Adding to these cities's distress is the overbought stock market -- primarily a tech mania, and once the stock market corrects downward (50% of states are in recession) due to recessionary conditions, then this will add further to the downward price pressure in housing where supply is greater than demand. Buyer manias never disappear throughout history, and we are in one now.
Here, here! I’m moving out of Orlando, Florida as it’s gotten too expensive, i.e. my rent doubled in 2022-2023. It was due to Disney moving from Burbank, California to Lake Nona, Florida the area where I lived. $1080-$1800 a month is ridiculous. The rents around Orlando went up 40-50% as a result. New homes and apartment buildings in and around Orlando metro does continue, but has slowed down to only half as much as is was in 2021. Disney cancelled last year causing the landlords to now do concessions not price reductions, which is positive however, the locals cannot qualify nor afford 3 times the rent of $1500-$1800 a month in rent. Too expensive, too much traffic, too crowded everywhere now, grocery prices have nearly doubled, has now caused me to look around out of state by the end of the year. It feels like an East coast California all over again for me.
Friend from Florida tells me that Orlando also has many Venezuelans, Puerto Ricans, and other countries living 3+ families to a house. That’s how they can afford a house.
Congratulations! This video is such an excellent Real Estate Housing Market Analysis. Thank you so much! 🎉🎉
Starting to see some flips have to make price cuts as they have started to default. Vendor sent out a report that about 8 percent of sold were recent flips or those cash buyers, however I expect that to slow down as we are starting to see more pressure with DOM on the rise.
Been following you for years. You're good but you influenced me to sell in los angeles three years ago but it went up another 8%
Listed house for $430k on 4/29. Lowered price to $399k, $375k then $360k. After 51 days on market accepted an offer for $340k. $90k below original list per recommendation of realtor. Thankfully this was a flip I ended up living on for 3+ years. Paid $85,000 and did complete interior remodel including finishing the basement. I am going to make good money at this price but had I listed last year I could have made more. Also, no rent for past 3 years. Win, win. Homes in this range in my area are sitting on market for 6 months or more. Not good.
Can I ask where?
As you likely know, a 7% mortgage payment is almost 50% higher than a 3.5% mortgage payment. This is absolutely brutal for buyers, even ones with good incomes. In my example, the sales price price must go down 33% for the 7% payment to be the same as the 3.5% payment.
Just want to say good job. I got a wife and 4 kids and we just missed the low mortgage % train. We’re drowning in rent all these years.
Nick? That was an excellent interview you had on CNBC on Monday.
Sold my townhome in West Denver in Feb 2024! Woo hoo!
This is good news. Let them keep crashing down. I'm totally OK with this. Kissimmee/Orlando is far far over priced! There is no way our home is worth 650k, sorry. 400s maybe sure but not mid 600s. We wanted to sell and move but honestly it's not worth moving right now unless we absolutely had to.
The temp will be 112 in five years.
I love how each entry the man keeps you on the hook by calling it "this city" 40x before saying what city it is 😆
This douchebag keep spilling the same garbage year after year! It’s comical at this point.
🤣. He is funny. He gets very excited. 😁
Its lame as hell and transparent that he is trying to run up time. With that... #1 is North Port Sarasota everyone.
In the Tampa area I don’t think builders were previously listing their properties. Now there are a lot of listings from builders. That would account for a lot of the inventory increase as they have been building like crazy. Not sure how easy it will be to find out how much this accounts for, but I’ll see what I can find today and post a reply.
I’m in Central Florida, Palm Bay, houses are sitting for months. I see them coming off market and listing as a rental and these are brand new homes. Developers are still building like crazy
Why are developers doing this? It seems like they'll be stuck holding a lot of inventory and will eventually be forced to liquidate at a loss. Is there something they know that we don't?
@@harijotkhalsa9496 great question
I see this a lot in saint Johns county. But sellers are refusing to stop the price anything meaningful (more than 10k). Then it just sits and sits OR it magically goes in pending
Maybe they're banking on black rock eventually buying them all to rent to people...
@@harijotkhalsa9496 or opendoor! Those m 0 r 0ns are still buying everything 🙄
I live in a North Dallas suburb that everybody was flocking to banging on peoples doors to purchase a house, and there are so many new listings. It’s ridiculous.
Bro thanks for all you do
Helpful video as always, and your app is a great aid!
How is he helping? Nothing is crashing. He just picking out a few house and screen shot them to make a pointless point
You can count 2021 when the Covid moratorium’s were in place and people did not sold that many houses
I’m in San Antonio and most of those overbuilt areas in the 400/700 K range. But high end homes over a mil are still selling very well. Especially in Boerne 30 miles demo SA.
Can you cover Albuquerqie NM sometime?
Thanks
I would just like to say Nick you are doing the Lord's work. Keep educating the masses.
The housing market is inflated and oversaturated with homes being on the market with astronomical price tags just stagnant for months. It is very clear that our generation will be likely one of the most devastating bubble pops in modern history. Seeking best possible ways to grow 250k into $1m+ and get a good house for retirement, I'm 48.
I don't think here is the place for personalized investment guidance. However, I suggest consulting with a reliable advisor like Azul to ensure appropriate retirement planning.
I’m closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in over 80% profit than some of my peers who have been investing for many years. Maybe you should consider this too
I've been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.
'Kristin Amber Landis' is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
I live in Gainesville Ga the lady is selling the house we rent for 360k the house was built in 1965 on 1.58 acres and needless to say her well water comes from her next door neighbor and he said when I move out she is going to have to get her own means of water. The house is only worth maybe 150k. Would love to buy a home but it’s way too expensive.
That Phoenix house needs to decrease by another 50%
Don't hold your breath
Lol idk why people even bought a house in that H hole and actually thought they’d get an ROI from it. I also don’t know why Californians were trading their houses for house similar in price but in a more toxic environment than California. Now they’re all selling and moving back. Smh.
Yes sorry that's not going to happen
Please talk about my home town, Greenville SC…..have owned 2 homes here….currently rent….a great deal….but close to retirement and would like to buy a condo in the city but everything is so expensive.
Prices in Denver are definitely dropping. Lots of houses falling out of contract. My inbox is filled with “price reduction” emails. Days on market the longest I’ve seen in a while. There’s more room to go as well. It may not be”crash”, but a correction is in order.
Not in the Atlanta metro area. Everything over 350 & up. I purchased the same house 18 years ago for 169k with mortgage squared footage. I know times have changed so everything is expensive.
Still need drop to 200k - 250k
Why? Because you're cheap?
Agreed. Just look at the price history and you can see how overpriced they are.
I ain’t buying until the houses go under $150k. We need a housing revolution!!
@@Legendary_UA Because prices doubled in the last 5 years in some cities. Purely because of speculation, doesnt even match demand.
@@Legendary_UA1/4 million for a house 🏡 isn’t cheap.
Big fan love the content, any interest in doing more of a macro analysis/trends? By state/big metro regions/most interesting outliers?
It's certainly concerning to hear about a default cycle, particularly in the housing market. Defaults can trigger foreclosures, which in turn can have a ripple effect on the entire real estate sector.
While it's concerning, it's important to look at the broader economic context. A default cycle doesn't necessarily mean the housing market is completely finished; it might signal challenges, but markets are dynamic, and they can recover.
But if more people are defaulting on their mortgages, doesn't that mean home values could plummet?
Yes, that's a possibility. An increase in foreclosures can lead to an oversupply of homes in the market, putting downward pressure on prices. It's the basic principle of supply and demand.
How can people address concerns about their property values?❤❤❤
Now might be an ideal moment to reevaluate your financial status. If you're worried about your home's value, consulting a real estate professional or financial advisor could be beneficial.
Living in Bradenton/Sarasota currently, Nick I hope you’re right.
High interest rate causes house market declining, less people are buying houses. more empty comericial buildings are converted into residential condos wich results in rental declining.After covid, more people are working at home, artificial intelligence technology has eliminated many office jobs, and commercial buildings are vacant and converted into apartments.
With rates climbing like never before in ’23 coupled with uncontrollable inflation, and our own mortgage at now 7.5% what are the best alternatives/strategies for avoiding a crunch and maximize my $200k savings other than moving in to an RV with my two kids and wife.
You are not alone we can no longer afford our mortgage, husband wants us to travel or relocate/I am proposing cashing in, walking away and renting while putting the rest in the stock market.
I believe that for the market to normalize, there must be a minimum 40% decline in home prices. It is advisable that you get advice for appropriate portfolio allocation from a knowledgeable advisor if you are unsure about purchasing a home. That's how I've managed to survive for the past five years and accumulate about $1 million in investment returns.
I would be happy to hire someone with a good reputation. How can I locate and thoroughly check them? We started thinking about the concept because we have a family lawyer who has periodically mentioned fiduciaries and we know how valuable they are.
Marisa Michelle Litwinsky is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I live in North Central Phoenix and the house prices have not dropped much in my neighborhood at all. My next door neighbors paid $1,150,000 for a remodeled with 5 bedrooms and 4 baths house. I had to laugh when they told me there is only one electrical outlet in the remodeled kitchen. High end appliances but the 2 guys that flipped it did not cook so they didn't give any thoughts to needed electrical outlets in the kitchen.
What about Boise? We need an update!
It’s coming.
I had problem comprehending trading in general. I tried watching other TH-cam trading channels, but they made the concepts more complicated. I was almost giving up until when i discovered content and explain everything in detail. The videos are easy to follow
Home prices are going to crash !!!! - Nick the past 4 years 😂😂. Love u bro
He is crashing not the housing market
He is right. You are wrong.
Thank you I wish you could focus on mass area . I sold three homes in the last 8 yrs a low market . I bought in a high market . So now I’m
with out a home trying to buy . Mean while storage and moving and renovations have also affected my home search . Please if you could try to focus on the NE coast . Thank you so much !
Home prices aren't going anywhere but up most places.
Investors will eventually buy everything normal buyers can't afford and no one will own anything.
Especially if those Investors are using our 401k money to inflate the market…only to see it drop.
Thanks. Could you do a statsvideo, ie job market, salaries, insurance issues on cities of towns that you like
I live in FL and it isn't anymore crowded than any other state that has seen an influx of people. Yes it is hot in the Summer (which doesn't phase me, as I play tennis in it) for 4 months. I'll trade it any day over cold long or wet winters, no thanks. Florida is great
Great for me 6 months a year… snowbird.
Here at Hollywood beach, listed since last November beach front 2 beds 2 bays condos dropped last 3 months of 2024 from $950K to $650K
Your daily dose of armageddon
You ain't seen nothing yet
Only for the past ~4 yrs 😂
Yep. Wish he had this same energy for New Jersey
LOL THIS GUY EVENTUALLY WILL BE RIGHT
@@nigeldixon2466 ya for all the states no one wants to live in the first place.
Great analysis. Your data is focused on supply. On the demand side of the equation, I think prices will need to drop further with interest rates as high as they are. Property taxes and insurance rates have also increased the cost of home ownership. 👍🏼👍🏼
Sun City is at the edge in Phoenix, mostly a older retirement community. The prices always the last to rise and first to fall. Construction in 2005 to 07 was fast and many problems. Location is still the issue other areas are still rising.
I live in a condo in VT. I could likely sell for $175k. I’m a single guy. Where would you recommend where I could buy preferably a house but I’d consider a condo for something in the $80-$120k price range so I could bank some money but also hopefully do the same thing in 3-5 years-in other words see the value of the property rise so I could cash out and move again-or at least have that as an option. Love your videos. You really know the market.
I’m upset bc Phoenix use to be cheap. I went to university there and now that I’m trying to move back and would live to buy a house, everything is so expensive
Rent. I'm not even going to start looking until September when housing has the least buyers.
Just wait until interest drop of price drop, or both
@@GoodToCU88when rates drop every will dash in raise prices again. 30 million millennials and gents just had their student loans forgiven and want in.
@@timothygibney159if everyone rushes to buy & sell when rates drop, that means the market will be more competitive and people can negotiate. Prices should come down more. And right now the fed is planning on dropping rates when it is not home selling season. Also, that will be the time of year people start selling to cover their debt. So people will get desperate and prices will drop
@@timothygibney159spot on, it’s a double edged sword, if you wait for rates to drop you are waiting for massive competition.. over asking offers, waived appraisals and or all cash offers… it will be 2019-2022 again. Better off buying while rates are higher getting into the home and dealing with the rates after the fact
I have not looked at Zillow for a few years. But when I was a realtor, Zillow was accurate to within +/- 25%. So if Zillow says a home is worth $200k - it's real value (what it can sell for) is between $150 and $250.
Zillow's "zestimate" should be outlawed, it's the reason for these insane prices.
"some" of the reasons. Another reason is the appraisal waivers that were done by Fannie during the cough.
It’s not an estimate of anything at all. They raise the price to within +/- a few percent of whatever the seller lists it at. On a related note, they consistently understate the property taxes by about 40-50%.
It’s complete BS. They themselves lost millions of dollars buying at their zestimate range.
100%. Zillow and Redfin, with the help of the NAR, are price fixing the market. Absolutely criminal behavior. Just take a look at who owns them... BLACKROCK.
Never would be someone trying to get top dollar. We had a county representative want 30 percent plus of new development to have housing restrictions but sadly never got back to me if he would put the same restrictions on his properties in the name of affordable housing.
Interesting information. Thank you. Just listened to a couple of folks from Florida. Verified a wall of condo inventory. HOA and insurance increase costs are being passed on to the owners. And they’re on fixed incomes. Oops.