I have clsoig in 3 days, 167,000 is the offer and zillow now says the house is worth 134,000 appraisal 4 weeks agoa said 167,000 value... I am gettign scare feet with zillow saying 20,000 less than what i am to pay for it...what do youthink>
You might not have a hundred million dollars to invest, but that doesn’t mean your money can’t share in the same opportunities available to others. You work hard for your money; make sure your money works hard for you.
The wealth you pass to the next generation can have a profound impact on your heirs, providing educational opportunities, the capital to start a business, or financial support to your grandchildren.
To manage investment risk, consider maintaining a broad diversification of your investments that reflects your personal risk tolerance, time horizon, and the nature of your financial goal. Remember, diversification is an approach to help manage investment risk. It does not eliminate the risk of loss if security prices decline. Because investing can be complicated, consider working with a financial professional to help guide you on your wealth-building journey.
Javier, you are a blessing! Literally was this close to caving in on a house that would have made my budget extremely tight. I happened to come across this video & because if you, I was able to discover that houses that were just sold within a WEEK ago, and were way bigger and nicer, were priced 20K cheaper than a smaller, less ideal home that would have significantly hurt my budget. Now I have some trust issues with my realtor but I’m so thankful for this knowledge.
Good luck to everyone just trying to put a roof over their family’s head. We got blessed to get a home here in SoCal before the interest rates jumped 5% and managed to get the house at listing price. Another issue no one is addressing is the rents are going up so much it’s a scary time for families. Something’s gotta give!
I think you’ve been hitting the nail on the head with every video lately...mainly buy what you can afford. I miss living in Goodyear, but the monthly rent was too expensive and I don’t miss renting. We lived right off the i10 and cotton (next to the target center). Nice area, with lots of shopping and things to do but not affordable for a family on a single income. We bought a house for under $160k and our payment is just @ $1k/mo. You won’t find anything in Goodyear/Buckeye/Surprise (rent or mortgage) where that would be your monthly payment. I’ve seen 3bd/2ba rentals in Estrella mountains going for $2500+ for rent. Also, love your new office (and the retro gaming N64 shelf/mando stuff). Congrats on your new house!!
I particularly enjoyed watching this video because it reminded me of what MeetKevin used to do years ago, which is showing how to pull good comps on a house for sale to estimate it's true market value. His process was nearly identical to yours, although he only used sold and ignored pending and active. Kevin has now moved on to stock videos and many people who were drawn to him miss the old MeetKevin, but I'm grateful that you teach this concept too. My favorite comp videos were 1) Listing did not include photos, usually because the house was just so gross, so the course member had to go inside the house and take their own photos, and later share their photos so Kevin could pull comps and 2) Hoarder homes, also almost always with no listing photos. These homes tended to be especially good deals because the pool of potential buyers that were purchasing as their primary residence is very small. Also it often makes financial sense to pay above an investor's all-cash offer if this will become your primary residence. The goal was to find homes priced less than "true" market value and normally meant needing to spend $50k in (ideally simple) cosmetic fixes to increase the home value by $150k - $200k, so a 2x - 3x return on the $50k. These videos were targeted to home buyers looking to find a "below market" deal on a primary residence but with an investment mindset to slowly build wealth through real estate.
Javier, I would love for you to make a video reviewing rent-to-own houses! I just learned that such things exist in the world! As to how beneficial they are, I’m not sure? I think the rent-to-own route of “owning” a house would be interesting to learn more about… especially if there are actually potential deals.
Paid 590k on 570k asking price. Yeah it needs some work on the house but I still think it's a good deal. Compare to 5 or 6 houses that we tried to offer, some of them is better and some is worse then my house but their price are 635k to 770k. And they're 100k to 200k over asking price. I paid 590k and only 20k over asking price, this was a steal deal for me. My wife really love the house and Zillow sends an estimate price around 678k for our house. So I'm happy about it😃
People get greedy in real estate .. Just seen a house pop up around the corner.. Last year they bought the house for 69.9k did the basic remodel and now they want 179.9k..I found out they only spent 15k to do the cosmetic work... Real estate agents are a major issue too..
Pushing values is like musical chairs. At some point the music will stop and people will be left holding the bag. Given the sharp rate at which mortgage rates are increasing, that day is coming. Incidentally, the biggest catalyst for getting an offer under asking accepted is a high number of days on the market; the seller runs out of arguments at a certain point.
Love the fact your a Sonic fan too. I knew I heard Green Hill Zone 1-1 but it's so different it has to be a remake. I was listening to you as I showered and thought "Is my baby brother playing Sonic 1 right now in the other room?"
1:15 whoa, please do a video talking about why you think that! It makes sense to me… our realtor has added no value to our search. She basically gets us in to see houses and that’s about it. I keep asking for her opinion on different topics, wanting to tap into her experience, and her responses can be summed up with 🤷♀️. Really frustrating.
One thing I learned recently is that to get my PMI removed now that my home value (should) be over 20% from the crazy equity increase, I have to be the one to pay to have an appraisal done before they'll remove it. I looked into it and it's going to cost around around 300-400... I get that it will save me money in the long run but feels like a gross practice. 🤦♀️
Who do you expect to pay for an appraisal when you're the one asking for it? You believe the value of the house has gone up. You're probably correct, but as the one with a mortgage and house, it should be your cost. Why should the mortgage company pay for it?
If your loan is less than two years old, they can not do an appraisal/BPO. For you to qualify you will need to meet 80.00%ltv or have done substantial improvements. The current market value has no bearing in removing PMI during that time.
Can you please make a video about ways to save or set money aside for property taxes when building a new build on unimproved land and how that works when getting tax notice and shortage on property taxes the first year?
Realtors going obsolete? No my man. Bad realtors maybe but my gf and I would have been screwed in the market without our broker’s local connections gained over 20+ years, Contract writing, strategy, and straight up personality when showing up to a home to set the tone. Just an opinion of course sitting in a top 5 most competitive market… it’s probably different in Texas or Ohio or something
I realize this is advice for someone potentially working without an agent, but just wanted to check: When I bought my house, my agent always ran lots of comps on it based on the area/size for me to look at. Is that not standard service to expect for buyers working with an agent?
I feel like that's 50% of the reason to hire a realtor. To advise you if the market and house values. 20% to find houses, 20% to help you through the process. 10% to take care of paperwork. So I wouldn't use a realtor that didn't run lots of comps. Althougg it depends on market. In a small City where the neighborhoods matter comes can be hard to come by. So there won't he lots of comps. But they should be doing what they can. I say this as an (educated) buyer (lawyer who works with real estate and deeds and mortgages, but not a real estate lawyer) for those reasons anyways. Oh I forgot 20% for network of contacts. My realtor was a critical source of housing inspectors, and contractors. Her ability to line up roof, flooring, electrical, and contracting estimates during my inspection period was extremely valuable. Saved me a ton of work and time.
it's standard service but it's good to be able to know how to do it yourself to make sure your agent isn't taking advantage of you by only sending you high comps to get you to bid high just to make a quick sale
@@magnetclip6861 No I'm genuinely asking you because I've only seen 5% at the most. And I wouldn't consider that "through the roof" so I figured maybe you're seeing something higher where you're at.
Redfin Zillow is what’s ruining the market anyways every time home sells goes up 200 k what kind of bs is that . I just bought my Home two weeks ago now it’s worth 200 k more ?lol
ya estan cambiando las cosas ay muchas casas de renta mas varatas i mas facil de rentar i ay muchas casas ya en venta al publico antes avia para clientes preferidos nomas saludos javier desde akindel solesito
How to find the true value of a home: Hire a realtor, put the home up for sale, after you get all the bids, yell just kidding! But probably should do it Javier's way if you dont want to be considered a giant douche canoe.
Found out after that Zillow provides a Sold and Pending search now. Should help you guys with this!
Yeah, that’s not new
I have clsoig in 3 days, 167,000 is the offer and zillow now says the house is worth 134,000 appraisal 4 weeks agoa said 167,000 value... I am gettign scare feet with zillow saying 20,000 less than what i am to pay for it...what do youthink>
You might not have a hundred million dollars to invest, but that doesn’t mean your money can’t share in the same opportunities available to others. You work hard for your money; make sure your money works hard for you.
The wealth you pass to the next generation can have a profound impact on your heirs, providing educational opportunities, the capital to start a business, or financial support to your grandchildren.
To manage investment risk, consider maintaining a broad diversification of your investments that reflects your personal risk tolerance, time horizon, and the nature of your financial goal. Remember, diversification is an approach to help manage investment risk. It does not eliminate the risk of loss if security prices decline. Because investing can be complicated, consider working with a financial professional to help guide you on your wealth-building journey.
can you endorse any ?
TERESA JENSEN WHITE does a perfect job. look her up on the web
thanks for the info . Found her website and it really impressive
Javier, you are a blessing! Literally was this close to caving in on a house that would have made my budget extremely tight. I happened to come across this video & because if you, I was able to discover that houses that were just sold within a WEEK ago, and were way bigger and nicer, were priced 20K cheaper than a smaller, less ideal home that would have significantly hurt my budget. Now I have some trust issues with my realtor but I’m so thankful for this knowledge.
Good luck to everyone just trying to put a roof over their family’s head. We got blessed to get a home here in SoCal before the interest rates jumped 5% and managed to get the house at listing price. Another issue no one is addressing is the rents are going up so much it’s a scary time for families. Something’s gotta give!
I think you’ve been hitting the nail on the head with every video lately...mainly buy what you can afford. I miss living in Goodyear, but the monthly rent was too expensive and I don’t miss renting. We lived right off the i10 and cotton (next to the target center). Nice area, with lots of shopping and things to do but not affordable for a family on a single income. We bought a house for under $160k and our payment is just @ $1k/mo. You won’t find anything in Goodyear/Buckeye/Surprise (rent or mortgage) where that would be your monthly payment. I’ve seen 3bd/2ba rentals in Estrella mountains going for $2500+ for rent.
Also, love your new office (and the retro gaming N64 shelf/mando stuff). Congrats on your new house!!
I particularly enjoyed watching this video because it reminded me of what MeetKevin used to do years ago, which is showing how to pull good comps on a house for sale to estimate it's true market value. His process was nearly identical to yours, although he only used sold and ignored pending and active. Kevin has now moved on to stock videos and many people who were drawn to him miss the old MeetKevin, but I'm grateful that you teach this concept too. My favorite comp videos were 1) Listing did not include photos, usually because the house was just so gross, so the course member had to go inside the house and take their own photos, and later share their photos so Kevin could pull comps and 2) Hoarder homes, also almost always with no listing photos. These homes tended to be especially good deals because the pool of potential buyers that were purchasing as their primary residence is very small. Also it often makes financial sense to pay above an investor's all-cash offer if this will become your primary residence. The goal was to find homes priced less than "true" market value and normally meant needing to spend $50k in (ideally simple) cosmetic fixes to increase the home value by $150k - $200k, so a 2x - 3x return on the $50k. These videos were targeted to home buyers looking to find a "below market" deal on a primary residence but with an investment mindset to slowly build wealth through real estate.
Javier, I would love for you to make a video reviewing rent-to-own houses! I just learned that such things exist in the world! As to how beneficial they are, I’m not sure? I think the rent-to-own route of “owning” a house would be interesting to learn more about… especially if there are actually potential deals.
My parents did that and made 1 3 day late payment and it got cut to renting. So all those other payments were for nothing
I strated watching your videos lately as I'm planning to make my first ever purchase. Thanks for all the content
Paid 590k on 570k asking price. Yeah it needs some work on the house but I still think it's a good deal. Compare to 5 or 6 houses that we tried to offer, some of them is better and some is worse then my house but their price are 635k to 770k. And they're 100k to 200k over asking price. I paid 590k and only 20k over asking price, this was a steal deal for me. My wife really love the house and Zillow sends an estimate price around 678k for our house. So I'm happy about it😃
People get greedy in real estate .. Just seen a house pop up around the corner.. Last year they bought the house for 69.9k did the basic remodel and now they want 179.9k..I found out they only spent 15k to do the cosmetic work... Real estate agents are a major issue too..
Yep…
Pushing values is like musical chairs. At some point the music will stop and people will be left holding the bag. Given the sharp rate at which mortgage rates are increasing, that day is coming. Incidentally, the biggest catalyst for getting an offer under asking accepted is a high number of days on the market; the seller runs out of arguments at a certain point.
It's easy, just look at the zillow zestimate from 2015 and that is what the house is worth.
Your videos are my calm in the storm bro. Keep it up, you are very much appreciated
Love the fact your a Sonic fan too. I knew I heard Green Hill Zone 1-1 but it's so different it has to be a remake. I was listening to you as I showered and thought "Is my baby brother playing Sonic 1 right now in the other room?"
1:15 whoa, please do a video talking about why you think that! It makes sense to me… our realtor has added no value to our search. She basically gets us in to see houses and that’s about it. I keep asking for her opinion on different topics, wanting to tap into her experience, and her responses can be summed up with 🤷♀️. Really frustrating.
Look for someone who has more to give you. She's in it for the $$$
Congratulations on your new house! I love the background!
Especially new construction when you add all the upgrades!
One thing I learned recently is that to get my PMI removed now that my home value (should) be over 20% from the crazy equity increase, I have to be the one to pay to have an appraisal done before they'll remove it. I looked into it and it's going to cost around around 300-400... I get that it will save me money in the long run but feels like a gross practice. 🤦♀️
Who do you expect to pay for an appraisal when you're the one asking for it? You believe the value of the house has gone up. You're probably correct, but as the one with a mortgage and house, it should be your cost. Why should the mortgage company pay for it?
What about property taxes? If your home is way over valued then you may be paying more in property taxes than what you're paying in pmi.
You paid for the first one what made you think the next one would be different?
@@mr.c6674 the answer to your first question is because she has a dog brain.
If your loan is less than two years old, they can not do an appraisal/BPO. For you to qualify you will need to meet 80.00%ltv or have done substantial improvements. The current market value has no bearing in removing PMI during that time.
I sold my house in Goodyear in march. Your channel is so cool bcs your doing vids on my old hood.
Subscribed✅
You da man, Javier! Keep em coming!
These tools are great for a balanced market. For now just assume every house is overpriced; because they all are.
Yes
Love the slow down sonic song in the background
Can you please make a video about ways to save or set money aside for property taxes when building a new build on unimproved land and how that works when getting tax notice and shortage on property taxes the first year?
You killed my ears with the kisses at the end bro, RIP to my fellow headphone wearing people
Yes, been there for years.
Can you find out how much is my house . 5 bedrooms 3 full bathroom 2,096 sq ft. 2 story house. Lot is 12,600 sq ft in chowchila California.
I wish you were an agent in NY.
Your work is great, I hope to hear from you
Realtors going obsolete? No my man.
Bad realtors maybe but my gf and I would have been screwed in the market without our broker’s local connections gained over 20+ years, Contract writing, strategy, and straight up personality when showing up to a home to set the tone.
Just an opinion of course sitting in a top 5 most competitive market… it’s probably different in Texas or Ohio or something
I realize this is advice for someone potentially working without an agent, but just wanted to check: When I bought my house, my agent always ran lots of comps on it based on the area/size for me to look at. Is that not standard service to expect for buyers working with an agent?
I feel like that's 50% of the reason to hire a realtor. To advise you if the market and house values. 20% to find houses, 20% to help you through the process. 10% to take care of paperwork. So I wouldn't use a realtor that didn't run lots of comps. Althougg it depends on market. In a small City where the neighborhoods matter comes can be hard to come by. So there won't he lots of comps. But they should be doing what they can.
I say this as an (educated) buyer (lawyer who works with real estate and deeds and mortgages, but not a real estate lawyer) for those reasons anyways.
Oh I forgot 20% for network of contacts. My realtor was a critical source of housing inspectors, and contractors. Her ability to line up roof, flooring, electrical, and contracting estimates during my inspection period was extremely valuable. Saved me a ton of work and time.
I will not be taking the world of a person that’s completely incentivized for you to pay the most for the property….
it's standard service but it's good to be able to know how to do it yourself to make sure your agent isn't taking advantage of you by only sending you high comps to get you to bid high just to make a quick sale
Average the price of the house in the last 10 years?
ESSENCE!!!
Thanks for sharing man. I love all your videos.
Congrats on the new house Javi
Looking to buy in the LV area in a year ish so thank you for providing this content!
The true value of a house is whatever it sells for….every time
The point of asking the question “true value” is to protect your asset 🙄you don’t want to be the last person holding the bag…..
very informative
Why would realtors become obsolete?
I was thinking in going into real estate 🥺
becuase they can do relatively very little, have low barriers to entry, and an automated workflow but they make a large % of the purchase price.
@@grantdoyle1259 Del Mar. La Jolla / beverly hills /Newport Beach homes @ $7,500,000 x 2.5 % commission + $187,000 bet they dont work very hard
No pool = instant buy
True true
Watching this video on the 29th of April 2022 and the mortgage interest rate is thru the roof. I wonder if I'll ever be able to afford a home.
Yikes! What's the rate?
@@greenfly0917 mortgage interest rate. Look it up if you don't know it. Or are you just playing around?
@@magnetclip6861 No I'm genuinely asking you because I've only seen 5% at the most. And I wouldn't consider that "through the roof" so I figured maybe you're seeing something higher where you're at.
@@greenfly0917 that's correct 5 percent. It's high too me. I rather see it in the 3.5 or 4 percent like it has been.
@@magnetclip6861 OK great. Thanks for clarifying.
Redfin Zillow is what’s ruining the market anyways every time home sells goes up 200 k what kind of bs is that . I just bought my Home two weeks ago now it’s worth 200 k more ?lol
ya estan cambiando las cosas ay muchas casas de renta mas varatas i mas facil de rentar i ay muchas casas ya en venta al publico antes avia para clientes preferidos nomas saludos javier desde akindel solesito
Why do you think the relator industry will implode in the next few years?
Sonic!!!
How to find the true value of a home: Hire a realtor, put the home up for sale, after you get all the bids, yell just kidding! But probably should do it Javier's way if you dont want to be considered a giant douche canoe.
This is the only real way since the value is simply what a willing and able buyer will buy it for in an open market. But I still wouldn’t do that
FIRST
🥰
1st