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.
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.
Rebecca Noblett Roberts 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..
Purchasing a home can be tough, especially if you're not paying in cash or opting for a government loan. Even if I only make the minimum monthly payments on a 30-year mortgage, I’ll end up paying more than double the home's value. Fortunately, I bought before the market surged, which allowed me to lock in a favorable interest rate. I can’t imagine trying to rent or buy in today’s market.
I hope to own a home some day, not quite long I started investing. I'm very curious already and need help on how to enhance and increase my returns. Any good investment tips will be appreciated.
The enduring US stock market bull run evokes a mix of fear and excitement, presenting opportunities with insight, resulting in $780k gains in the past ten months, utilizing a portfolio advisor for a well-defined strategy.
@@mony1852 If it isn't good to buy, I ask myself how I managed to purchase a perfect home that was at a completely normal price? Oh that's right, not every single city has the same housing issues, and a lot of markets are completely normal. The only thing in my market was that houses were going quick. Just get the first offer in at value, and chances were you'd get it.
Just my observation over several decades; every one I know who bought a house and stayed in it for years has come out ahead in life. Renting is paying a mortgage, for the owner.
exactly. The problem is everyone wants to buy real estate to rent out but the problem is the market volatile now. But if your buying with the intentions of actually living there then you don't really care what happens because you still need somewhere to live and your rent AKA mortgage is fixed thus you always come out ahead cause inflation.
I totally agree with you! I work with a lot of VA and FHA clients who have been very misguided by industry "professionals" who have done them a tremendous disservice by selling them the 2019 home buying script. It doesn't apply right now! I've talked people into waiting and not buying - and I sleep at night knowing that I had their backs. I want my clients to live IN their homes, not under them. Keep up the honest work; we hear you!
My sister is a realistate agent and she doesn’t give me the cold hard facts like you do. I feel like you are talking to me and yes helping me so thanks for being real!
Back in 2017, I planned to buy a house in 2020; I closed yesterday. Bought a move in ready home, in a good neighborhood for a fair price, payments are less than rent. People should buy when they are ready, you know when you know. And yes, #1 thing is you must have your money and credit straight.
@@jermainemarshall6819 looking for that too! No HOA bull... If it's my house why should someone tell me what color I should paint, what additions I want to make etc...what to have what not. None of their business
No nasty comment, just a thank you for keeping it honest and realistic and helping me get my head in the right direction. Much appreciation for you Javier.
Just found your channel tonight, you absolutely deserve every like, (nice) comment, and every subscriber because you’re honest, funny and very helpful! Thank you!
Many people have no idea what real life is like, when you have to fight for what you want and need. Too many today are used to being handed their wish on a silver platter. Thanks Javier for being so honest and realistic about what may happen and when, and when it is not right to make this big of a financial jump. Buying a house is not like buying that shinny new Beemer or Lexus, or Tesla. This purchase may haunt your for 10 or more years if it's not right for you. Like the viewer below, I also recently retired and sold my home that I owned for more than 20 years. I've been planning to be exactly where I am financially, all that time. I've lived below my means, and I've also been lucky to have had a great career. And now here I am in California carefully looking over the real estate market for my next purchase. In fact, I just got home from looking over a couple of houses. Good luck!
You are on point. Bought a fixer upper and immediately had to put 12k into repairs...drywall, paint, carpet, AC repairs, broken toilet, etc....it sat for 3 months because it was an overwhelming project that was gonna cost cash! Bought it $15k undermarket 1 year ago and couldn't have been more thrilled with our progress.
This was the reality check I needed!! I had a feeling that I wasn’t ready but couldn’t articulate it as well as you’re able to! You hit on every point so well that it hurt but I’m grateful I saw this. That point you make about FHA and VA discrimination is very real, even scares off my agent from working with me once they learn of the loan type. There’s a very palpable shift in the tone.
I paid off my home in Garland Texas, but I don't I want to stay here. Taxes go up every year with the number of shootings and homicides. All the taxes we pay but we can't even go walking safely without risking getting shot. Not worth it.
@@elguapo3811 I’m in Dallas right off 635. We planned on looking in garland but way too high! We’re looking in Aubrey now due to the taxes being low. At least for the next 4-5 years
What a great video! Javier is so personable and engaging, and the emphasis on SELF RELIANCE is SO important! This is funny, well-produced honest, and helpful.
Javier: I'm not trying to scare you Me: Too late! Your videos are terrifying but I appreciate your honesty! We are closing on our first home tomorrow, in CA of all places, but we MUST move and all of your "don't buy a house unless..." things apply to us, so in a weird way, your videos also make me feel more at ease. Thank you for helping me stay sane during this process!
Nicky, Just like his thinking and maybe in same situation as you, back in 2005 near the peak of the housing market.. I was aware of housing bubble, but I had to grab a house to start my family. If you google you can see market bottomed within 5 years and came back. So you just need to go in to your purchase with same assumption. Don’t look at it as financial investment, but rather investment in your life to be able to certain things if you weren’t renting.
Please continue to preach Javier. Preach. I'm closing next Monday. I've been prepping for this well over a year. Tuesday I'm making an another offer on a rental property which I will keep for a minimum of the next 10 years. I am not sweating. Preparation is key to any endeavor in life.
I COMPLETELY AGREE WITH YOU, JAVIER!! I am a Realtor in Miami and despite all the buzz in our RE market, I refuse to say that everything is just fine... Clients need to know what is really going on so they can make the right choices. Way to go! THANK YOU!! 👏🤗
I'm a Realtor and I totally agree with him! I even send his videos to clients who are just getting started and have been given the rainbows and unicorns talk by some lender or other agent who isn't there for the right reasons.
Hey, I'm a Realtor (and was a Financial Advisor in a previous career - and Javier is right.) In defense of my colleagues, I believe that many Realtors would advise you similarly to the advice in this video. There ARE many real pros out there!
Let me start by saying I love your videos. They have been instrumental in helping navigate our move from the bay area to Phoenix metro. I have to say we are the exception. We used FHA w/ DPA and started out asking for closing costs. We quickly learned that was a no go! But after 3-4 month of searching, turned down offers and an appraisal that came in way under asking price, we finally found a seller in Maricopa who accepted our FHA with DPA. But we still had to come out of pocket for cost associated for closing. It is possible to do. I think I gave up about 14x but had to keep trying as we were relocating for work.This market is not for the faint of heart but it can be done! (I totally agree, you need to be in it for the long term)
Very true comments. I was the naive buyer that could not get anything. Finally bought my house by offering way over the asking price on the first go-around. FYI, I’m in the greater LA Area market.
I was ready and I made offer on couple of houses but got outbid. Looking at the market and inventory, its clear to me that I need more money, to comfortably buy a house. Glad I went through the process and tried because I understood what I wanted and if I was ready. I am a single mom and just knowing I am not fully there yet is success in itself. I don't want to be house poor. To add - I learned to stick to what the house value was to me. My invisible line in the sand was to NOT offer more than asking price. All this prevented me from bad decisions. Honestly, if sellers want more, should just ask for more. I refuse to play their games.
I'm proud of you! Im taking action now myself. The worst that could happen is that I learn how to play the game and best case scenario is i purchase my dream home.
Javier I love your channel. You're 100% right about not buying a house unless it's a long term thing. People can't do simple math to calculate all the RE fees, transaction costs, etc. that come along with buying a house and even the cost of moving itself. Not to mention the time, cost and stress of buying and moving. They say there's a 5 year rule but in this crazy market, I agree it's a 10 year rule. If you don't envision yourself in the house for 10 years, you have no business buying. My next door neighbor just sold their house for $15k over appraisal, and it would've went for more if the appraisal had held up higher.
JAVIER! Just found your channel a week ago and im so glad i found your channel. You're super funny XD and provide really good information!!! i hope you keep making videos! dont stop!!!!!!
I love your honesty and education you provide in your video’s! I live with my parents and have been saving and improving my credit for years. Everything that’s going on right now I’ve decided to hold off until the crash 💥 what goes up must come down. Thank you! I
It’s definitely a very personal choice right now. I’m in South Florida and pay 23k a year in rent which fkn crazy. I’ll be buying for that reason alone.
@@waterheaterservices yeah I feel you. A couple working for Australian military was renting a huge 5 bedroom house for 4400 a month. It is near me so not in a great/prestige area, but the house they rented was new
You are so right about the discrimination against FHA buyers we are using fha but we're paying for everything no assistance and paying our own closing costs we put an offer in on two houses and within minutes the 1st one turned us down for a conventional the other houses accepted our offer with joy long story short the 1st house ended up calling my realtor later that evening asking if we're still interested because the conventional offer changed their minds 😆 NOPE and the house is still on the market 8 days later 😋
Not a bad idea to get pre qualified . The perfect opportunity is coming and for people that can truly afford it . It is also a great time to buy as long as your not looking at this as an investment . This is a home
💯 facts he is speaking . As a mortgage processor and mortgage modifications specialist. I tell people all the time. Don’t let no one tell you when is the right time to buy. Take care of your long term goals . I paid off all my debt instead of buying last year . No one cares about you .. facts
@@paulettepoole5476 everything depends on you and what you are looking for. If you can financially afford the house that means the payment is 30 percent or less your housing to income ratio then that is a safe bet you can afford the house in the event of a market crash. The rates are so low that it may make sense for some. Now when the market crashes the house prices will go down but the rates will likely go up . How much that is to be determined. .. like he said find out your long term goal .. that’s a real important step. I have had relators trying to tell me the right time to buy is now for the last 4 years. Even tho they know damn well it wasn’t the right time for me. I had to file bankruptcy and even tho I picked my credit up fast they were like you can refinance later. Trying to get me to lock into a 9% rate when the market was at 3%. I decide to pay off all my wife’s and my debt in 1-2 years. Now I’m in a better situation. In short the point is that you have to do what’s best for you . So do your homework many don’t understand that a house is the biggest financial obligation you make and it can be the difference in a happy life and stressed life
agent: It’s a great time to buy! Interest rates are so low Same agent when interest rates spikes: it’s a great time to buy!! Prices have gotten so low! In conclusion: anyone can tell you it’s a great time to buy in any environment. Make sure your money straight is all.
Thank you so much for this thoughtful video full of critical analysis and hard hitting truths! I deeply appreciate how your videos aren't all sunshine and rainbows, and I feel much more informed and capable of making a smart decision rather than hearing more video pep talks on how buying a home is possible (which it is, but is it the smartest move for your situation?). You have no idea how much you helped as a young person getting pressure from family to buy a home! :D
Bravo!bravo! You kept it 💯% real. Me and my wife was screaming “preach Javier!” 🔥🔥 we are a true example of why we decided to wait. The house of are dreams got snatched away because my offer was not aggressive. Someone offered 10k more then me LOL unreal, but we took it on the chin and said we will catch it on a better price 🙏 thanks for the video.
Thank you for being honest about the savings! I’ve had realtors look at me like I’m crazy when I say I’m aiming to save 20% down plus closing, repair costs, and emergency buffer. I want a place that I can fix up to my own tastes and have paid off in 15 years, then roll that emergency fund into retirement!!!
Thank you so much for your honesty. It is amazing to see how many sellers are selling based on greed opposed to helping out their fellow man. I am in the market to buy a home, however I am not a first time buyer, however buying in the market today is out of control. I don't worry about me because I can handle my own. However, It is so sad to see families that have saved for years stepping into the market for the first time and getting doors shut in their face repeatedly. I love the stories about the sellers who considered the buyers personal letters and pictures and went with their hearts instead of operating out of greed. God bless those sellers who see the value and honor of a family being able to purchase their very first home and giving them the opportunity to do so.
I delt with a different seller. I liked the house, so I offered listed price. Next thing I know we were asked for last and best offer. So i sent a heartfelt letter telling him that I gave him all i had but if he took my offer the value would be priceless. He went with another offer. The town then increased the taxes so the accepted deal didn't work out. I put another offer and he again went with another person. My realtor is still hopefully but I told him that I may not take it if he finally agrees if his new deal falls again. But yeah, greed is definitely what is driving a lot of sellers. I gave him the asking price but he used my offer to pressure other buyers.
@@DIVISIONINCISION Yes I agree, but there's a point of diminishing return that he's crossed. Waste of my time, my realtor, his agent. Now he'll have to wait until until next year to process this tax sale and by then the new administration may not be so kind to business owners. Money doesn't change yr character, it puts a spotlight on it.
@@DIVISIONINCISION so all business deals should be conducted without thinking about the other person and/or helping another person out so both parties can win? All money ain't good money!
We are trying to buy we have been saving for 2 years and working on credit. We down sizes for a whole year into a travel trailer while my husband traveled for work. We are taking time to find a forever home.
The realtor we had for our first place gave us a lot of similar advice. We closed at the beginning of April last year and we needed to save about 5k more than what we had for closing costs. Luckily we had a few assets to liquidate, but our realtor basically told us at the start “we’re not going to be able to close unless we have 14k minimum.” After close everything came out to about $13,800. Always save more than you think you’ll need, because then you can add that money to your house savings or whatever you need it for. It’s definitely not our dream house, but it’s at an affordable rate and below our means. It’s the perfect starter home!
Ive been telling those close to me or strangers this same info. I am a Realtor. It is time to be a Listing Agent or expand on other ways to best morally and effectively use our craft.
Lynn mass. Fixer uppers are going for 60-70k over asking. Extremely discouraging and feels like it’s not the time even though I am a person ready and needing to buy right now.
I know Lynn. Medford, Malden and Melrose are practically untouchable, that's why Lynn is going over. Anything 1.5 hours from Boston is insane. I'm planning on moving to the Berkshires. Fixer Uppers are going for $50k. If you can detach your mental and spiritual connection to a location, you can live anywhere. My family never visits me (I live in Lowell), and my friends are all over the country. Does living in Lynn really matter to you? If it doesn't, broaden your scope. A house is where you live. Picture that any house you buy will cost you about 250% what you paid for it (with interest, taxes, repairs, upgrades and maintenance) over 30 years. Is that worth it, to you? If not, think West, or North.
Thank you for your professional housing advice!!! This is exactly what I need this month as my landlord has just told us that he's selling the building. Here's an unsolicited advice from a voice professional: you don't need to have a deep voice, wha want is a resonant voice within your actual range and it will sound more booming than a deep/low voice.
I agree. Depends on your life priorities. If you need to stay and you don't care about the value go down than go ahead and buy it. Either way the market won't drop like like 2006 to 2008. What ever it is be very prepare for your financial and tax returns. Lenders are very tight with loans. It is not that easy as before. If it w2 than it is not that bad. If you are a business owner. Good luck prepare your profit loss and balance sheet. Comparative 2019and 2020 business trends explanations
What do you mean bargain? Like what did you wanted? You just asked for it? What’s there a specific timing when you asked for the bargain? I’m looking t but a new home… within the next year
I'm a Realtor in Denver and I would never tell anybody to buy or sell at a specific time. I sit down with them, give them all the information on the current market so that they can make a decision for themselves. I don't want them to feel any pressure from my end to make a decision they would regret down the line!
@@DIVISIONINCISION yeah I know I’m a native, prices have more then doubled in the last 10 years. Horrible place to be. Hoping reality sets in, whoever is buying now is getting majorly ripped off.
Personally I don’t see the market changing in Denver anytime soon. We have so many people looking for homes right now and so few sellers. Most places in Denver have about 2-3 weeks of inventory which is insanely low. As long as inventory and interest rates are low I imagine it’ll stay the same for quite some time (2-3 years) before leveling off. It’ll be very interesting what happens once all the Covid restrictions are lifted (whenever that will be) and if a bunch of sellers feel comfortable putting their house up for sale.
@@MichaelJanzer What about colorado springs? Are you familiar with that area? Also, are there any hot-spot potential areas you'd recommend looking in? With this huge shift to work-at-home culture there's likely to be some hidden gems out there primed for growth.
💯 facts he is speaking . As a mortgage processor and mortgage modifications specialist. I tell people all the time. Don’t let no one tell you when is the right time to buy. Take care of your long term goals . I paid off all my debt instead of buying last year . No one cares about you .. facts
I just bought a house (under contract, but haven't closed yet)! I got 3% seller concessions, but my house is not in high demand and needs some upgrading.
@@nicholebaldwin1332 wow that’s really good, congratulations! I don’t think I’ll ever afford to buy a home in California😿... I wish I could convince my husband to move to another state because renting sucks!
@@nicholebaldwin1332 congrats! I've been looking in upstate NY for a while. Should have bought in 2016 when second homes were really cheap still (under 100k) now everything has exploded. :(
@@hipmoma I know :( my friend bought a house last year for really cheap in a nice neighborhood. I kind of wish I had bought back then. There were a bunch of houses over the summer, but I passed on most of them and had almost no options in the fall :x
Just found your channel today and thank you for all the information you provide here. Me and my fiancé have our first kid on the way and living in only a one bedroom apartment we decided its time to buy a home. To say I've become discouraged is an understatement. Fortunately I have a decent credit score and money saved up for a down-payment and closing costs but houses are insanely priced right now. We cant land a contract on a home even when we're offering the listing price, paying the closing costs, and paying 5% down. It's particularly hard when trying to buy a home in a community were we both grew up and being outbid by investors and or flippers who have no intention of ever living in the home. The more we look at the market the more it looks like my lease will be renewed and hopefully in a year the housing market won't be so brutal on people just trying to find their first home.
I'm currently under contract on a house, and one of the only reasons my offer got accepted was because I was above appraised value and I was flexible to the seller's situation. The house had 29 offers on it, and I had the lowest offer out of the seller's top 5. It's a crazy market... but at least the interest rates are good right now lol
I do appreciate how honest you are with your audience. Fixer uppers do seem like the only niche where you can find any type of deal right now for the average buyer.
I am retiring next Spring and moving to an area that routinely is listed in the top ten best places to live. I will be downsizing considerably and my reason for buying is that I need a place to live and my house payment (after rolling in my equity) will be much less than renting. The house price for selling or buying will be what it will be.
We are looking now - you are absolutely right. Decent homes come up, are under contract the same day at a higher price than list. Decent fixer uppers may last a little long and go at list price. Garbage, which is what is mostly out there in our price range, sits longer. It's horrible!
I’ve been saving to buy a house in a nice area I have outgrown mine. However the prices are crazy and people handing over 5 or 10k cash over value are not thinking with their brain. The bank is literally telling you the house is not worth that much. Then your gonna be stuck with a over valued house with high taxes and insurance. That’s why they say patience is a virtue. Because when this very insane market crashes I’m not gonna buy a house I’m a gonna buy a few. They keep saying now is the time to buy interest rates are low and that couldn’t be further from the truth. Interest can always be refinanced but you can’t refinance the purchase price.
You are speaking so much truth it hurts. I thank God for paving the way in both in selling my home as well as buying my new home back in May during the height of this whole madness. As a VA buyer, I was able to get closing costs as well MAJOR maintenance fixes before buying my new home. I made an offer the same day I saw it, and they took it because they were motivated to move. As soon as I locked in the deal on the purchase of my home, I put mine up on the market the next day. I sold in eight days! I had multiple offers, but the offer I accepted was VA. They came in at $5,000 over-asking, asked for a home warranty, no home inspection, and that we close in 30 days! SOLD! I had the same Realtor and Lender who worked both the sale and purchase. I moved into my new and had three weeks before I had to turn over the keys to my old home. Smoothest process ever! And again, right during the HEIGHT of this madness. Blessed!
My standard procedure for watching Javier’s videos: 1. Tap on video 2. Hit pause 3. Tap the “Like” button 4. Hit “play” and enjoy! Great content every time!
True I like all your video,I’ve been watching a lot of this video about buying a house from those had a million view to the smaller view an I came across to your video and I think yours is more genuine and close to reality .
A lot of people want a good lifestyle , but the way they spend can't see them getting that lifestyle anytime soon , the rich invests more and spends less
I am pretty aware that loosing out on trades can be as a result of trading with little or no experience at all , and I have heard about expert George's skills , please how do I connect with him ?
Lock in your mortgage rate for as long as possible in uncertain times. I had 10 houses for 30 years bought in all markets... Don't be afraid to be in the game if the payment is less than rent than why not.... I am 58 yrs old now and have trouble getting a loan now although I don't try very hard... I just pay cash.... Get my drift ?
Asking a Real estate agent when it's a good time to buy a house is like asking a car salesman when it's a good time to buy a car. What do you think he's gonna say? People are just dumb....
I am all about truth and actually helping people make the right decisions. I've talked several people into waiting and watching, or counseled them that just because a lender tells them they CAN, doesn't mean they should. It's hard to undo bad reputations and bad advice - but some of us are out here trying to do good. 👍
It’s always a good time to buy a house. Just have your plan, have your savings, credit, etc and plan it as a long term investment... every buyer or seller is unique as real estate market is. Take an Educated Decision.
Javier, another excellent video. It is absolutely true that pretty much everyone in the world of sales-any type of sales-has their own interest in mind. As a Realtor, I always speak to clients in the same way you do. I put their best interests first and only. It doesn't matter if I make money, because at the end of the day, when people realize that I am truly working in their best interest, there is a huge bonus for us, faithful clients who know that we are telling the truth.
You know, I'm so glad that you are telling these things to people. Some people don't know. Now I'm planning on buying a house sometime next year and I'm scared that we won't be able to get a house due to the high demand market. Fingers crossed.
As you invest in houses, also diversify your allocation by investing in the different streams of income as that will increase your return potential (Profits) & help decrease risk by taking your investments beyond stocks & bonds. Long term plan is highly beneficial ❗❗
@@leonmuller8204 That's why it's advisable to invest with a broker or reach out to an investment advisor and work on your investing tolerance, risks management and get familiar with the market. Speculation is most dangerous when it looks easiest, INVEST SMARTLY.
You buy a house for your own personal use to stay in the game and protect yourself from inflation. That is it. No matter what housing does, you get to stay in the game. It goes up, you are covered, it goes down, so does the rest of the market so big deal. Just look around at people who have owned for 15+ years. They will usually tell you that there is no way they could afford their house today. Ownership makes inflation work for you. Wait too long and you may never get on the real estate ladder, and over time inflation is going to eat you alive.
My uncle just past away he was 58 from covid. Our last conversation was on how happy he was I bought a house because he had rented all his life and he was under the notion that house lost value. He said it was a regret. Houses go up and down all the time it's about the long-term interest.
🕊✨ Good Afternoon Mr. Vidana. I’m located in South Texas. How do I wished to have You as our realtor! Either here in Texas or Florida. We don’t meet a person like You Sir everyday. Honesty and Sincerity are two beautiful values, You have both! We do appreciate that. I discovered Your platform yesterday. Allow me to tell You We are here to Stay. Could You please let me know if You are allow to Work out of the State of Arizona. Have a Pleasant Day! 🤲🏼 Blessings
@@bobsibert1968 There will not be a crash. If you know anything about the market. It is not like 2008. There is a crazy lumber shortage right now causing lumber prices to go through the roof. Lots of places across the country were not building homes due to Covid. Its basic economics with a lumber shortage, and a housing shortage there is virtually no supply and high demand. This will keep the prices high. they may come down a little not much. Also good luck if you are in a state like Arizona, Florida or Texas where people are moving there in record numbers.
Investing in different streams of income that don't depend on the government to bring in money especially now the pandemic is hitting the economy pretty hard will be the wisest decision.
@Jeff Clifford yeah my first investment with Mrs Cynthia Edna mchenry earned me profits of over $ 24,320 US dollars and ever since then she has been delivering
I know This trader; (Cynthia Edna mchenry), but only by reputation. I have been trying to get her contact information since i saw her on Yahoo finance channel last month. Wow congrats love seeing comments like this, it just makes me believe that really there is profit from Investment, of recent I have lost around $ 12,000 and I feel like giving up but comments like this just keeps me going.
@@Francis.Rivers haha not me lol. I’m just a normal person trying to buy a house for my family. Good old blue collar worker. I have a decent income but crap is crazy over here. All these investors and people just driving up the prices. A decent family can’t even compete.
Thanks for your opinion. You’re right , you are educating people and giving us advices. It is up to a person to decide and it depends on their situation.
With the housing market it’s more about supply in demand. As inflation rises more people will be in a financial struggle and put their house on the market at the same time less people will be looking to buy making houses sit on the market for years which makes the prices drop in order to sell. There will be way more houses than buyers. When there’s less houses on the market and more people looking to buy, this drives the housing prices up and people are less likely to take a low ball offer because they will get many offers in the next couple of months vs small amount of offers in a long period of time (years)
@@josesalas9061 Yes and No, for the most part interest rates on housing is based on the market by the Federal Reserve. In a buyer’s market house prices are low however interest rates go up because there’s money to be made because in a buyer’s market more houses sell. In a sellers market house prices are high and to give people a incentive to buy (because not as many houses are selling) they lower the interest rates. This is why interest rates are low right now. Real estate agents in a buyer’s market: Housing prices are so low and there’s so many to choose from, it’s a great time to buy! Real estate agents in a sellers market: Interest rates are so low it’s a great time to buy!
Thanks! I appreciate someone being straight-forward then sugarcoating it. I appreciate to know what goals I should be working on before buying a new home. New Subscriber!
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.
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.
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
Rebecca Noblett Roberts 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.
Purchasing a home can be tough, especially if you're not paying in cash or opting for a government loan. Even if I only make the minimum monthly payments on a 30-year mortgage, I’ll end up paying more than double the home's value. Fortunately, I bought before the market surged, which allowed me to lock in a favorable interest rate. I can’t imagine trying to rent or buy in today’s market.
I hope to own a home some day, not quite long I started investing. I'm very curious already and need help on how to enhance and increase my returns. Any good investment tips will be appreciated.
The enduring US stock market bull run evokes a mix of fear and excitement, presenting opportunities with insight, resulting in $780k gains in the past ten months, utilizing a portfolio advisor for a well-defined strategy.
How do I reach out to one? my assets have been struggling since 2022 and I’ve been holding on by the skin of my teeth.
Rebecca Nassar Dunne maintains an online presence that can be easily found through a simple search of her name on the internet.
I searched for her name on the internet, found her page, and reached out via email to schedule a conversation. Thank you.
The best time to buy a house? When You are ready.
Lol love this one!!
hell yea!
im ready!🤙😎
I was about to post the same exact thing. When people ask me if it's a right time to buy or sell. I always respond, "depends on YOU".
I was ready to stop paying an ungodly amount for rent each month. Even though homeownership comes with its own costs, it was worth it to me.
Ugh....no
The only person I trust on TH-cam now talking about the housing market
Seriously, everyone else are just brainwashers saying everything is fine and it’s good to buy. When it’s not 👌🏼
@@mony1852 If it isn't good to buy, I ask myself how I managed to purchase a perfect home that was at a completely normal price?
Oh that's right, not every single city has the same housing issues, and a lot of markets are completely normal. The only thing in my market was that houses were going quick. Just get the first offer in at value, and chances were you'd get it.
@@justSomeUserOnYT very true! The market where I live has been crazy! But I’ve just been patiently waiting while saving to see what happens 👌🏼
Javy is a great discovery. Love his delivery and his voice.
Javier is the TRUTH
Just bought a house a week ago, but you better believe I’m still watching every single Javi upload
I bought a few months ago and still watch. Need to stay abreast of changes.
Same here bought one in October and still watching
Same here 😂
Congrats, same here
Feel that signing tomorrow and will still watch
Just my observation over several decades; every one I know who bought a house and stayed in it for years has come out ahead in life. Renting is paying a mortgage, for the owner.
exactly. The problem is everyone wants to buy real estate to rent out but the problem is the market volatile now. But if your buying with the intentions of actually living there then you don't really care what happens because you still need somewhere to live and your rent AKA mortgage is fixed thus you always come out ahead cause inflation.
Yeah that's the thing he talked about. It used to be that way but now and going forward it's not a sure thing a house will be a great investment.
Precisely. I prefer to pay own mortgage.
I totally agree with you! I work with a lot of VA and FHA clients who have been very misguided by industry "professionals" who have done them a tremendous disservice by selling them the 2019 home buying script. It doesn't apply right now! I've talked people into waiting and not buying - and I sleep at night knowing that I had their backs. I want my clients to live IN their homes, not under them. Keep up the honest work; we hear you!
My sister is a realistate agent and she doesn’t give me the cold hard facts like you do. I feel like you are talking to me and yes helping me so thanks for being real!
Your sister trying to bank as much as possible before market tank.
A hot market is always good for a real estate agent
She is not ur sister any more....
“You need a THIRD savings... and I’ll tell you why...” YESSSSS finally someone is saying thissss
Back in 2017, I planned to buy a house in 2020; I closed yesterday. Bought a move in ready home, in a good neighborhood for a fair price, payments are less than rent. People should buy when they are ready, you know when you know. And yes, #1 thing is you must have your money and credit straight.
Yes!!
Thats what I'm looking for. Pyments less than rent. I just want a place to live where I don't have people telling me what to Do with my house.
@@shallowlove9507 don't move into an HOA then
@@jermainemarshall6819 looking for that too! No HOA bull...
If it's my house why should someone tell me what color I should paint, what additions I want to make etc...what to have what not. None of their business
What State did you buy? Must not be in Cali for sure
No nasty comment, just a thank you for keeping it honest and realistic and helping me get my head in the right direction. Much appreciation for you Javier.
Just found your channel tonight, you absolutely deserve every like, (nice) comment, and every subscriber because you’re honest, funny and very helpful! Thank you!
Many people have no idea what real life is like, when you have to fight for what you want and need. Too many today are used to being handed their wish on a silver platter. Thanks Javier for being so honest and realistic about what may happen and when, and when it is not right to make this big of a financial jump. Buying a house is not like buying that shinny new Beemer or Lexus, or Tesla. This purchase may haunt your for 10 or more years if it's not right for you.
Like the viewer below, I also recently retired and sold my home that I owned for more than 20 years. I've been planning to be exactly where I am financially, all that time. I've lived below my means, and I've also been lucky to have had a great career. And now here I am in California carefully looking over the real estate market for my next purchase. In fact, I just got home from looking over a couple of houses. Good luck!
You are on point. Bought a fixer upper and immediately had to put 12k into repairs...drywall, paint, carpet, AC repairs, broken toilet, etc....it sat for 3 months because it was an overwhelming project that was gonna cost cash! Bought it $15k undermarket 1 year ago and couldn't have been more thrilled with our progress.
This was the reality check I needed!! I had a feeling that I wasn’t ready but couldn’t articulate it as well as you’re able to! You hit on every point so well that it hurt but I’m grateful I saw this. That point you make about FHA and VA discrimination is very real, even scares off my agent from working with me once they learn of the loan type. There’s a very palpable shift in the tone.
Been in my house for 13 years. Just refinanced at 2.8%. Bringing my payment down. By 227. I’m staying here forever. Planning on paying it off. 👍🏼
Good for you.
Same here. Stayed in my house 11 yrs. refinanced at 2.75% and cut from 21 yrs to now 15 yrs.
I paid off my home in Garland Texas, but I don't I want to stay here. Taxes go up every year with the number of shootings and homicides. All the taxes we pay but we can't even go walking safely without risking getting shot. Not worth it.
@@elguapo3811 oh no. 🥺
@@elguapo3811 I’m in Dallas right off 635. We planned on looking in garland but way too high! We’re looking in Aubrey now due to the taxes being low. At least for the next 4-5 years
What a great video! Javier is so personable and engaging, and the emphasis on SELF RELIANCE is SO important! This is funny, well-produced honest, and helpful.
Javier: I'm not trying to scare you
Me: Too late!
Your videos are terrifying but I appreciate your honesty! We are closing on our first home tomorrow, in CA of all places, but we MUST move and all of your "don't buy a house unless..." things apply to us, so in a weird way, your videos also make me feel more at ease. Thank you for helping me stay sane during this process!
@@DIVISIONINCISION I'm a CA native, but now we'll own instead of rent.
@@NickyStade This guy is straight fear tactics for views. He hasn't lived long enough to understand real estate.
Nicky, Just like his thinking and maybe in same situation as you, back in 2005 near the peak of the housing market.. I was aware of housing bubble, but I had to grab a house to start my family. If you google you can see market bottomed within 5 years and came back. So you just need to go in to your purchase with same assumption. Don’t look at it as financial investment, but rather investment in your life to be able to certain things if you weren’t renting.
Bought a house in July...still watching! He's not even in my area, he's just that good! 👌
Please continue to preach Javier. Preach. I'm closing next Monday. I've been prepping for this well over a year. Tuesday I'm making an another offer on a rental property which I will keep for a minimum of the next 10 years. I am not sweating. Preparation is key to any endeavor in life.
I COMPLETELY AGREE WITH YOU, JAVIER!! I am a Realtor in Miami and despite all the buzz in our RE market, I refuse to say that everything is just fine... Clients need to know what is really going on so they can make the right choices. Way to go! THANK YOU!! 👏🤗
The people thumbs down 👎🏾 the video are realtors!
Or, they are people who feel like they deserve a house even though they don’t have any money to make the purchase. 💅🏻
😂 facts
I'm a Realtor and I totally agree with him! I even send his videos to clients who are just getting started and have been given the rainbows and unicorns talk by some lender or other agent who isn't there for the right reasons.
Hey, I'm a Realtor (and was a Financial Advisor in a previous career - and Javier is right.) In defense of my colleagues, I believe that many Realtors would advise you similarly to the advice in this video. There ARE many real pros out there!
Realtors are worthless scum
Let me start by saying I love your videos. They have been instrumental in helping navigate our move from the bay area to Phoenix metro. I have to say we are the exception. We used FHA w/ DPA and started out asking for closing costs. We quickly learned that was a no go! But after 3-4 month of searching, turned down offers and an appraisal that came in way under asking price, we finally found a seller in Maricopa who accepted our FHA with DPA. But we still had to come out of pocket for cost associated for closing. It is possible to do. I think I gave up about 14x but had to keep trying as we were relocating for work.This market is not for the faint of heart but it can be done! (I totally agree, you need to be in it for the long term)
Very true comments. I was the naive buyer that could not get anything. Finally bought my house by offering way over the asking price on the first go-around. FYI, I’m in the greater LA Area market.
I was ready and I made offer on couple of houses but got outbid. Looking at the market and inventory, its clear to me that I need more money, to comfortably buy a house. Glad I went through the process and tried because I understood what I wanted and if I was ready. I am a single mom and just knowing I am not fully there yet is success in itself. I don't want to be house poor.
To add - I learned to stick to what the house value was to me. My invisible line in the sand was to NOT offer more than asking price. All this prevented me from bad decisions. Honestly, if sellers want more, should just ask for more. I refuse to play their games.
I'm proud of you! Im taking action now myself. The worst that could happen is that I learn how to play the game and best case scenario is i purchase my dream home.
Same here!
Javier I love your channel. You're 100% right about not buying a house unless it's a long term thing. People can't do simple math to calculate all the RE fees, transaction costs, etc. that come along with buying a house and even the cost of moving itself. Not to mention the time, cost and stress of buying and moving. They say there's a 5 year rule but in this crazy market, I agree it's a 10 year rule. If you don't envision yourself in the house for 10 years, you have no business buying. My next door neighbor just sold their house for $15k over appraisal, and it would've went for more if the appraisal had held up higher.
JAVIER! Just found your channel a week ago and im so glad i found your channel. You're super funny XD and provide really good information!!! i hope you keep making videos! dont stop!!!!!!
Thank you Melvin!
Super solid advice. I appreciate the straight-forward talk, no BA, no gimmicks.
I love your honesty and education you provide in your video’s! I live with my parents and have been saving and improving my credit for years. Everything that’s going on right now I’ve decided to hold off until the crash 💥 what goes up must come down. Thank you! I
It’s definitely a very personal choice right now. I’m in South Florida and pay 23k a year in rent which fkn crazy. I’ll be buying for that reason alone.
yep, get the down cause renting is a rip off. It is not the alternative we used to have.Been there many times with renting.
Feel your pain man.... im in SFL too
Colorado, paying in rent per year what would buy a modest house in some states. Nuts.
@@waterheaterservices yeah I feel you. A couple working for Australian military was renting a huge 5 bedroom house for 4400 a month. It is near me so not in a great/prestige area, but the house they rented was new
But you don’t have to pay for maintenance of the property your renting.
You are so right about the discrimination against FHA buyers we are using fha but we're paying for everything no assistance and paying our own closing costs we put an offer in on two houses and within minutes the 1st one turned us down for a conventional the other houses accepted our offer with joy long story short the 1st house ended up calling my realtor later that evening asking if we're still interested because the conventional offer changed their minds 😆 NOPE and the house is still on the market 8 days later 😋
I was actually JUST about to get qualified on a loan, glad I subscribed
I have made so many notes from his channel and Shaheedah Hills channel. Great education
Not a bad idea to get pre qualified . The perfect opportunity is coming and for people that can truly afford it . It is also a great time to buy as long as your not looking at this as an investment . This is a home
💯 facts he is speaking . As a mortgage processor and mortgage modifications specialist. I tell people all the time. Don’t let no one tell you when is the right time to buy. Take care of your long term goals . I paid off all my debt instead of buying last year . No one cares about you .. facts
@@simonsayshi
Are you saying the perfect opportunity is coming in the future? You also said it's good now.
Which one?
@@paulettepoole5476 everything depends on you and what you are looking for. If you can financially afford the house that means the payment is 30 percent or less your housing to income ratio then that is a safe bet you can afford the house in the event of a market crash. The rates are so low that it may make sense for some. Now when the market crashes the house prices will go down but the rates will likely go up . How much that is to be determined. .. like he said find out your long term goal .. that’s a real important step. I have had relators trying to tell me the right time to buy is now for the last 4 years. Even tho they know damn well it wasn’t the right time for me. I had to file bankruptcy and even tho I picked my credit up fast they were like you can refinance later. Trying to get me to lock into a 9% rate when the market was at 3%. I decide to pay off all my wife’s and my debt in 1-2 years. Now I’m in a better situation. In short the point is that you have to do what’s best for you . So do your homework many don’t understand that a house is the biggest financial obligation you make and it can be the difference in a happy life and stressed life
agent: It’s a great time to buy! Interest rates are so low
Same agent when interest rates spikes: it’s a great time to buy!! Prices have gotten so low!
In conclusion: anyone can tell you it’s a great time to buy in any environment. Make sure your money straight is all.
Not really , because the prices are too high ! Been looking for a second property for about a year now , but.... no ! They want too much money !
I'd MUCH rather buy with higher interest rates and lower price than the way it is now.
lol, you win the stupid comment of the day award! Only fools are buying in this sugar high..
Just bought our first home. OOF it's been a tough market. But think we found the perfect spot. Hoping everything goes good through closing.
Enjoy it Chris!
Thank you so much for this thoughtful video full of critical analysis and hard hitting truths! I deeply appreciate how your videos aren't all sunshine and rainbows, and I feel much more informed and capable of making a smart decision rather than hearing more video pep talks on how buying a home is possible (which it is, but is it the smartest move for your situation?). You have no idea how much you helped as a young person getting pressure from family to buy a home! :D
Bravo!bravo! You kept it 💯% real. Me and my wife was screaming “preach Javier!” 🔥🔥 we are a true example of why we decided to wait. The house of are dreams got snatched away because my offer was not aggressive. Someone offered 10k more then me LOL unreal, but we took it on the chin and said we will catch it on a better price 🙏 thanks for the video.
You’re just super funny! I love your transparency.
Thank you for being honest about the savings! I’ve had realtors look at me like I’m crazy when I say I’m aiming to save 20% down plus closing, repair costs, and emergency buffer. I want a place that I can fix up to my own tastes and have paid off in 15 years, then roll that emergency fund into retirement!!!
..... that being said, would someone like to give me $20k?
I’m ready for a long term commitment! That being said I appreciate this video! People should be careful!
Thanks for being real. Not a lot of realtors out there like you. Glad to know there's honest ones out there.
Appreciate everything you are doing/saying. Thank you for representing for the people!
Thank you so much for your honesty. It is amazing to see how many sellers are selling based on greed opposed to helping out their fellow man. I am in the market to buy a home, however I am not a first time buyer, however buying in the market today is out of control. I don't worry about me because I can handle my own. However, It is so sad to see families that have saved for years stepping into the market for the first time and getting doors shut in their face repeatedly. I love the stories about the sellers who considered the buyers personal letters and pictures and went with their hearts instead of operating out of greed. God bless those sellers who see the value and honor of a family being able to purchase their very first home and giving them the opportunity to do so.
I delt with a different seller. I liked the house, so I offered listed price. Next thing I know we were asked for last and best offer. So i sent a heartfelt letter telling him that I gave him all i had but if he took my offer the value would be priceless. He went with another offer. The town then increased the taxes so the accepted deal didn't work out. I put another offer and he again went with another person. My realtor is still hopefully but I told him that I may not take it if he finally agrees if his new deal falls again. But yeah, greed is definitely what is driving a lot of sellers. I gave him the asking price but he used my offer to pressure other buyers.
@@DIVISIONINCISION Yes I agree, but there's a point of diminishing return that he's crossed. Waste of my time, my realtor, his agent. Now he'll have to wait until until next year to process this tax sale and by then the new administration may not be so kind to business owners. Money doesn't change yr character, it puts a spotlight on it.
@@DIVISIONINCISION so all business deals should be conducted without thinking about the other person and/or helping another person out so both parties can win? All money ain't good money!
We are trying to buy we have been saving for 2 years and working on credit. We down sizes for a whole year into a travel trailer while my husband traveled for work. We are taking time to find a forever home.
The realtor we had for our first place gave us a lot of similar advice. We closed at the beginning of April last year and we needed to save about 5k more than what we had for closing costs. Luckily we had a few assets to liquidate, but our realtor basically told us at the start “we’re not going to be able to close unless we have 14k minimum.” After close everything came out to about $13,800. Always save more than you think you’ll need, because then you can add that money to your house savings or whatever you need it for.
It’s definitely not our dream house, but it’s at an affordable rate and below our means. It’s the perfect starter home!
$13,800 closing cost alone, or for everything?
Ive been telling those close to me or strangers this same info. I am a Realtor. It is time to be a Listing Agent or expand on other ways to best morally and effectively use our craft.
Keep up the quality vids! With your channel, I usually chuckle while learning, my favorite kind of content.
Lynn mass. Fixer uppers are going for 60-70k over asking. Extremely discouraging and feels like it’s not the time even though I am a person ready and needing to buy right now.
I know Lynn. Medford, Malden and Melrose are practically untouchable, that's why Lynn is going over. Anything 1.5 hours from Boston is insane. I'm planning on moving to the Berkshires. Fixer Uppers are going for $50k.
If you can detach your mental and spiritual connection to a location, you can live anywhere. My family never visits me (I live in Lowell), and my friends are all over the country. Does living in Lynn really matter to you? If it doesn't, broaden your scope. A house is where you live. Picture that any house you buy will cost you about 250% what you paid for it (with interest, taxes, repairs, upgrades and maintenance) over 30 years. Is that worth it, to you? If not, think West, or North.
Hey! I totally understand living in Boston proper.... The prices are ridiculous!
Thank you for your professional housing advice!!! This is exactly what I need this month as my landlord has just told us that he's selling the building. Here's an unsolicited advice from a voice professional: you don't need to have a deep voice, wha want is a resonant voice within your actual range and it will sound more booming than a deep/low voice.
Literally spit out my tea when you said " the only thing you will be handed out is your butt" omg too funny and so true.
I agree. Depends on your life priorities. If you need to stay and you don't care about the value go down than go ahead and buy it. Either way the market won't drop like like 2006 to 2008. What ever it is be very prepare for your financial and tax returns. Lenders are very tight with loans. It is not that easy as before. If it w2 than it is not that bad. If you are a business owner. Good luck prepare your profit loss and balance sheet. Comparative 2019and 2020 business trends explanations
Due to the pandemic under writer will ask you alot of questions for risk mitigation
I bought VA and I had no problems with my loan. I bought a brand new house after bargaining to get what I wanted in the house.
Which state did you purchase in?
What do you mean bargain? Like what did you wanted? You just asked for it? What’s there a specific timing when you asked for the bargain? I’m looking t but a new home… within the next year
Dude this is so what people need to hear! I applaud you for speaking the truth and not getting people in over there head!!
I'm a Realtor in Denver and I would never tell anybody to buy or sell at a specific time. I sit down with them, give them all the information on the current market so that they can make a decision for themselves. I don't want them to feel any pressure from my end to make a decision they would regret down the line!
Do you see the Denver market changing much over the next year or so?
@@DIVISIONINCISION yeah I know I’m a native, prices have more then doubled in the last 10 years. Horrible place to be. Hoping reality sets in, whoever is buying now is getting majorly ripped off.
@@DIVISIONINCISION you that’s my only hope.
Personally I don’t see the market changing in Denver anytime soon. We have so many people looking for homes right now and so few sellers. Most places in Denver have about 2-3 weeks of inventory which is insanely low. As long as inventory and interest rates are low I imagine it’ll stay the same for quite some time (2-3 years) before leveling off. It’ll be very interesting what happens once all the Covid restrictions are lifted (whenever that will be) and if a bunch of sellers feel comfortable putting their house up for sale.
@@MichaelJanzer What about colorado springs? Are you familiar with that area? Also, are there any hot-spot potential areas you'd recommend looking in? With this huge shift to work-at-home culture there's likely to be some hidden gems out there primed for growth.
Saw a couple videos that were great, this video forced me to subscribe. I appreciate your work, thank you for you honesty.
💯 facts he is speaking . As a mortgage processor and mortgage modifications specialist. I tell people all the time. Don’t let no one tell you when is the right time to buy. Take care of your long term goals . I paid off all my debt instead of buying last year . No one cares about you .. facts
It's crazy how the market is right now. Thank you for this information. Sending you happy smiles!
I just bought a house (under contract, but haven't closed yet)! I got 3% seller concessions, but my house is not in high demand and needs some upgrading.
How much and where?!
@@brothertn708 upstate NY
@@nicholebaldwin1332 wow that’s really good, congratulations! I don’t think I’ll ever afford to buy a home in California😿... I wish I could convince my husband to move to another state because renting sucks!
@@nicholebaldwin1332 congrats! I've been looking in upstate NY for a while. Should have bought in 2016 when second homes were really cheap still (under 100k) now everything has exploded. :(
@@hipmoma I know :( my friend bought a house last year for really cheap in a nice neighborhood. I kind of wish I had bought back then. There were a bunch of houses over the summer, but I passed on most of them and had almost no options in the fall :x
Just found your channel today and thank you for all the information you provide here. Me and my fiancé have our first kid on the way and living in only a one bedroom apartment we decided its time to buy a home. To say I've become discouraged is an understatement. Fortunately I have a decent credit score and money saved up for a down-payment and closing costs but houses are insanely priced right now. We cant land a contract on a home even when we're offering the listing price, paying the closing costs, and paying 5% down. It's particularly hard when trying to buy a home in a community were we both grew up and being outbid by investors and or flippers who have no intention of ever living in the home. The more we look at the market the more it looks like my lease will be renewed and hopefully in a year the housing market won't be so brutal on people just trying to find their first home.
I'm currently under contract on a house, and one of the only reasons my offer got accepted was because I was above appraised value and I was flexible to the seller's situation. The house had 29 offers on it, and I had the lowest offer out of the seller's top 5. It's a crazy market... but at least the interest rates are good right now lol
I do appreciate how honest you are with your audience. Fixer uppers do seem like the only niche where you can find any type of deal right now for the average buyer.
I am retiring next Spring and moving to an area that routinely is listed in the top ten best places to live. I will be downsizing considerably and my reason for buying is that I need a place to live and my house payment (after rolling in my equity) will be much less than renting. The house price for selling or buying will be what it will be.
Where are you moving
@@luxconcept Northwest Arkansas.
We are looking now - you are absolutely right. Decent homes come up, are under contract the same day at a higher price than list. Decent fixer uppers may last a little long and go at list price. Garbage, which is what is mostly out there in our price range, sits longer. It's horrible!
I’ve been saving to buy a house in a nice area I have outgrown mine. However the prices are crazy and people handing over 5 or 10k cash over value are not thinking with their brain. The bank is literally telling you the house is not worth that much. Then your gonna be stuck with a over valued house with high taxes and insurance. That’s why they say patience is a virtue. Because when this very insane market crashes I’m not gonna buy a house I’m a gonna buy a few. They keep saying now is the time to buy interest rates are low and that couldn’t be further from the truth. Interest can always be refinanced but you can’t refinance the purchase price.
😢
You are speaking so much truth it hurts. I thank God for paving the way in both in selling my home as well as buying my new home back in May during the height of this whole madness. As a VA buyer, I was able to get closing costs as well MAJOR maintenance fixes before buying my new home. I made an offer the same day I saw it, and they took it because they were motivated to move. As soon as I locked in the deal on the purchase of my home, I put mine up on the market the next day. I sold in eight days! I had multiple offers, but the offer I accepted was VA. They came in at $5,000 over-asking, asked for a home warranty, no home inspection, and that we close in 30 days! SOLD! I had the same Realtor and Lender who worked both the sale and purchase. I moved into my new and had three weeks before I had to turn over the keys to my old home. Smoothest process ever! And again, right during the HEIGHT of this madness. Blessed!
My standard procedure for watching Javier’s videos:
1. Tap on video
2. Hit pause
3. Tap the “Like” button
4. Hit “play” and enjoy!
Great content every time!
True I like all your video,I’ve been watching a lot of this video about buying a house from those had a million view to the smaller view an I came across to your video and I think yours is more genuine and close to reality .
I lost half the value of my house in 08 and the economy wasn't half as bad as it is today!!! Good luck to those that bought recently.
I just bought and don't need you luck because we plan to stay for decades so the short term doesn't really matter.
@@isaacklostermann3936 Congratulations Issac.
Hope thing turn out better for you, than they did for me in 08.
You’re the only realtor on TH-cam that makes me laugh with your edits and your low-key humor. It makes the content enjoyable. Subscribed 💪🏼
I prepared for 2 years before we bought a new home and we had 40% down payment. But, I wanted to pay off everything.
Damn where do u live
@@mirandam5746 Near Austin tx, but we owned a home for a while that appreciated greatly. Sold it, paid off debt, then bought a new home.
I admire you for your integrity & honesty.
A lot of people want a good lifestyle , but the way they spend can't see them getting that lifestyle anytime soon , the rich invests more and spends less
The rich gets richer by investing while the poor just spend like the rich without thinking about a good investment to go into
Good investments are life savers
I am pretty aware that loosing out on trades can be as a result of trading with little or no experience at all , and I have heard about expert George's skills , please how do I connect with him ?
Depending on stream of income has never made any millionaire , and earning checks don't put you on Forbes.
The best time to plant a tree was 20 years ago and the second best time is now
Lots of love for you!!!! Thank you for being real ❤️❤️❤️❤️ protect this guy !!!
Being a native Phoenician. That’s for all the helpful insight
Lock in your mortgage rate for as long as possible in uncertain times. I had 10 houses for 30 years bought in all markets... Don't be afraid to be in the game if the payment is less than rent than why not.... I am 58 yrs old now and have trouble getting a loan now although I don't try very hard... I just pay cash.... Get my drift ?
Asking a Real estate agent when it's a good time to buy a house is like asking a car salesman when it's a good time to buy a car. What do you think he's gonna say? People are just dumb....
Only thirsty agents act that way. Find someone who actually does well and they’ll be straight up with you.
@@Navs126 According to google 87% of agents fail within 5 years. So that means most agents out there are thirsty.
I am all about truth and actually helping people make the right decisions. I've talked several people into waiting and watching, or counseled them that just because a lender tells them they CAN, doesn't mean they should. It's hard to undo bad reputations and bad advice - but some of us are out here trying to do good. 👍
It’s always a good time to buy a house. Just have your plan, have your savings, credit, etc and plan it as a long term investment... every buyer or seller is unique as real estate market is. Take an Educated Decision.
Ha
Javier, another excellent video. It is absolutely true that pretty much everyone in the world of sales-any type of sales-has their own interest in mind. As a Realtor, I always speak to clients in the same way you do. I put their best interests first and only. It doesn't matter if I make money, because at the end of the day, when people realize that I am truly working in their best interest, there is a huge bonus for us, faithful clients who know that we are telling the truth.
My friend bought her home with VA loan, within 2 months closed, not bad.
You know, I'm so glad that you are telling these things to people. Some people don't know. Now I'm planning on buying a house sometime next year and I'm scared that we won't be able to get a house due to the high demand market. Fingers crossed.
As you invest in houses, also diversify your allocation by investing in the different streams of income as that will increase your return potential (Profits) & help decrease risk by taking your investments beyond stocks & bonds. Long term plan is highly beneficial ❗❗
Totally Agree!! The real secret of building wealth is having multiple income streams.
Yeah but it will be much difficult for beginners that doesn't know much about other streams of income to invest in...
Passive income clears unnecessary debts and also a powerful strategy for growing retirement funds
Great Advice
@@leonmuller8204 That's why it's advisable to invest with a broker or reach out to an investment advisor and work on your investing tolerance, risks management and get familiar with the market. Speculation is most dangerous when it looks easiest, INVEST SMARTLY.
Really great in your face advice!!! Honestly I love your candor and pure common sense... More people need to hear this message.. Take care God Bless.
You buy a house for your own personal use to stay in the game and protect yourself from inflation. That is it. No matter what housing does, you get to stay in the game. It goes up, you are covered, it goes down, so does the rest of the market so big deal.
Just look around at people who have owned for 15+ years. They will usually tell you that there is no way they could afford their house today. Ownership makes inflation work for you.
Wait too long and you may never get on the real estate ladder, and over time inflation is going to eat you alive.
Javier, you’re honest, funny, and give great advice. Thank you!!! A rarity in the TH-cam maze.
Not sure if I should watch this, closed yesterday on my first home...haha
My uncle just past away he was 58 from covid. Our last conversation was on how happy he was I bought a house because he had rented all his life and he was under the notion that house lost value. He said it was a regret. Houses go up and down all the time it's about the long-term interest.
You know what porkchop, I like your honesty and I wish ppl would be more like you
😂 porkchop. 😂😂😂. Priceless
That’s fucked up man 😂 why you called this man pork chop?
@@richierick96 it all love, he doesn't like being called buddy so I gave him a nickname porkchop hopefully he like it
🕊✨ Good Afternoon Mr. Vidana. I’m located in South Texas. How do I wished to have You as our realtor! Either here in Texas or Florida. We don’t meet a person like You Sir everyday. Honesty and Sincerity are two beautiful values, You have both! We do appreciate that. I discovered Your platform yesterday. Allow me to tell You We are here to Stay. Could You please let me know if You are allow to Work out of the State of Arizona.
Have a Pleasant Day!
🤲🏼 Blessings
*Home Buyers: Hi, Do you want 10K.*
*Realtor: Yes! Now is the time.*
Right?! 😂😂😂
You keep it real and I really like that. It's hard for some people to listen to the truth.
Buy a house to live in, and not as investment right now. And if you’re financially solid. You’re fine and buy a house now...
Nah, wait for the crash and have greater wealth!
@@bobsibert1968 let me borrow that crystal ball. No crystal ball needed if you know your personal finances.
@@bobsibert1968 There will not be a crash. If you know anything about the market. It is not like 2008. There is a crazy lumber shortage right now causing lumber prices to go through the roof. Lots of places across the country were not building homes due to Covid. Its basic economics with a lumber shortage, and a housing shortage there is virtually no supply and high demand. This will keep the prices high. they may come down a little not much. Also good luck if you are in a state like Arizona, Florida or Texas where people are moving there in record numbers.
I want to buy a home 🏡
But prices are way over inflated,
You make a great
Thanks
Investing in Assets is the cheat code for having a successful financial life.
Investing in different streams of income that don't depend on the government to bring in money especially now the pandemic is hitting the economy pretty hard will be the wisest decision.
@Susan Martinez yeah sure and investing in it right now will be one of the best thing to do
@Jeff Clifford yeah my first investment with Mrs Cynthia Edna mchenry earned me profits of over $ 24,320 US dollars and ever since then she has been delivering
@@floralambert4507 she has really made a good name for herself
I know This trader; (Cynthia Edna mchenry), but only by reputation. I have been trying to get her contact information since i saw her on Yahoo finance channel last month. Wow congrats love seeing comments like this, it just makes me believe that really there is profit from Investment, of recent I have lost around $ 12,000 and I feel like giving up but comments like this just keeps me going.
Thank you for the truth. I live in California and it’s tough out here.
@@DIVISIONINCISION agreed!
Out here in LA people are paying 60k on top of the appraisal value. Insane
Craziness here in OC as well. People are just driving the prices up by out bidding each other left and right.
@@albertlopez1481 danggg OC is even worse.!!! You guys are boujee down there
@@Francis.Rivers haha not me lol. I’m just a normal person trying to buy a house for my family. Good old blue collar worker. I have a decent income but crap is crazy over here. All these investors and people just driving up the prices. A decent family can’t even compete.
@@albertlopez1481 i feel ya.. thats why im moving out east. (SB county). About an hr from DTLA.
Thanks for your opinion. You’re right , you are educating people and giving us advices. It is up to a person to decide and it depends on their situation.
Housing is going up because the dollar is dropping and inflation going up.
And low interest rates.
Agree..
With the housing market it’s more about supply in demand. As inflation rises more people will be in a financial struggle and put their house on the market at the same time less people will be looking to buy making houses sit on the market for years which makes the prices drop in order to sell. There will be way more houses than buyers. When there’s less houses on the market and more people looking to buy, this drives the housing prices up and people are less likely to take a low ball offer because they will get many offers in the next couple of months vs small amount of offers in a long period of time (years)
inflation is caused by zero interest rates
@@josesalas9061 Yes and No, for the most part interest rates on housing is based on the market by the Federal Reserve. In a buyer’s market house prices are low however interest rates go up because there’s money to be made because in a buyer’s market more houses sell. In a sellers market house prices are high and to give people a incentive to buy (because not as many houses are selling) they lower the interest rates. This is why interest rates are low right now.
Real estate agents in a buyer’s market: Housing prices are so low and there’s so many to choose from, it’s a great time to buy!
Real estate agents in a sellers market: Interest rates are so low it’s a great time to buy!
Your not ugly. Intelligent people are intriguing. Keep going forward!
Bought a house yesterday noting in live is guaranteed no body knows any thing we are all just guessing do ur own research and go with ur guts
What state
Gooood for you. No matter what life throws at us, it's better to have a house in most cases.
Yikes, thats like throwing money away lol
Buddy,You’re the best!...GOD be with you always!🙏👍👍👍
Buy a house when you could afford it and raise your family in.
Thanks! I appreciate someone being straight-forward then sugarcoating it. I appreciate to know what goals I should be working on before buying a new home. New Subscriber!