Only idiots will buy in this market. All these homes will be under water in next 5 years. How can you justify paying for a house 200k more than what the seller paid for only 2 years ago? Sellers are gone mad.
So you take a promotion and your employer wants you to relocate to a new city. You are 45yo, married with two children in their teens. Your kids need to get settled in school and start making new friends. Your wife needs to find a new job to keep her career momentum moving forward. Are you an idiot to buy? It's doesn't matter what the seller paid. It's not about money. It's about taking care of your family
I saw a listing in Illinois where a seller bought a fixer upper for 280k, didn’t fix anything and selling As is for 475k 4 months later. Only a moron will buy this. Imagine how sellers are screwing up the comps for the next few years to come.
30k price reductions in michigan but they need to come down 50-60k before i get out of bed because homes are at least 100k over value accross the market
This is also happening in Tulsa Oklahoma because of the $10,000 move to Tulsa program for remote workers and now they have to return to the office. I also found homes in Metro Atlanta that are behind on their property taxes. They paid for the home in full, but the property taxes were due on November 15th and they remain UNPAID. Metro Atlanta will be next on the list and it will move into the Northern Suburbs once Atlanta foreclosures pick up. One TH-camr states that Ginny Mae delinquent homes are being sold to hedge funds and the foreclosure rate is being severely under reported because of this practice. My son is selling his home that he bought in 2019 for $228K for $449K and the appraisal came back at $451K. A ~100% increase in the home value is INSANE in five years and unreasonable. Let the entire market tank by 50%. For those of us hard working Americans we could use a reduction in our property taxes when the counties have to reassess the homes for much less than today's prices. I would love for my property taxes to go down by 50%.
How is it legal for ginnie Mae to sell to hedge fund ? This is illegal and Congress needs to pass a Law! By right of public due process, a house is supposed to go through the formal process of foreclosure and be sold on courthouse steps in its prospective county. This is being underhandedly done right under Americans' noses.
Unfortunately I don't see 50% happening outside of a few very volatile markets. But yeah, nobody can afford current prices, and if it ever starts to decline in earnest it seems likely to collapse like a house of cards...
I wish, it'll never happen though. We've doubled the amount of dollars in the world's supply since 2020. And you think prices will come down to what they were before doing that? You're not asking for a 50 percent drop you're asking for way more which is actually pretty much physically impossible.
Yup…Atlanta (suburbs and city) going down…just waiting for it to go lower… a lot of new build vacancies… where the new properties are offering rate buy down is slowing resale market…foreclosures from 2years ago hitting market now
High mortgage are the cause of house prices correcting.....I don't think it is overpriced mortgages (home prices just went up 50%, I think correction in price is warranted.....sucks for some, good for others)
Just wrote your brokerage for a quote. Plan to pickup 4 rentals in the next couple months, possibly more. Finally seeing fixers and rehabs hitting the market. Several have been vacant for several years so I find it interesting they finally hit the market right now.
Now people are moving the goalposts, claiming that its only 5 pct loss. Is it really just 5%? If an investor bought a house for $630,000 in cash and is now selling it for $600,000, that represents a loss of $30,000. Additionally, there is a loss of potential T-bill interest of 10% over two years (approximately $63,000), and carrying costs. So, in total, if what could have been $685,000 in T-bills is now being let go, after accounting for these losses: $630,000 - $30,000 - $63,000 - 10,000 roughly for taxes = $527,000. What could have been 693,000 now is 527,000. Did they not say that money in 2024 would be worth less than money in 2022? Well, guess what: now they are left with only $53700 in 2022 money. If taken mortgage with 20% down then lost entire down payment and then some, 630,000*0.2 = 126000 - 30,000 loss - PITI (100,000) - Commisions - 6000 potential interest
All these "facts and figures" you present make me wonder why you couldn't get it right in 2022. You were closely following the market. Yet, you dropped the ball. How? Why did you tell people we weren't are the verge of a market crisis? Why? Because you don't know what data is relevant from one year to the next and you're an "expert". I encourage anyone who reads this to go back and review this guys posts from 2022. You'll see just how on point this guy is with understanding his "facts and figures".
Hi am a realtor with over 20 years of experience and this is the reason why! I don’t do any videos about predicting the market , you just don’t know what can happen in the future!
@RafaelsFlix Yes. And it will be even higher next year as those who left realize the error of their arrogant ways. Upon their return, they'll find that our properties have again pushed upwards. As they should being homes in the greatest State in the Union. Sadly, those returning are gong to find that investors are leaving red states and returning to blue (where the money is). I get 4-8 calls a week with cash offers at Zillow's market value. No lack of demand here at all.
The outskirts of Arizona are seeing prices still down from 2022. If inventory continues to increase in 2025, we will see more price cuts and flat appreciation. We have seen some areas sell homes 5% less than in 2022. Marketing time is now about 3 months ,at the end of 2024 versus under a month in 2022
$620-599k in Sacramento is hard to believe. This person overpaid when buying. Also that’s only a 5% drop which is far from a crash. Most home prices have actually gone up in the last few years and will go up even further when rates go down. 😑 still super low supply and tons of people waiting to buy. Sac and CA in general is not budging in $ by much if any.
September 2018 rocked my family with the hurricane Florence. To lives and properties displaced we gave $45k. We also gave in 2020 COVID year. The "Treasure Principle" by Randy Alcorn helped my giving reason why getting $105k in two months is just evident of God's blessings on my household. God never faltered on his written and spoken promises over my family.. All thanks to Mrs Kathy Lien
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Only idiots will buy in this market. All these homes will be under water in next 5 years. How can you justify paying for a house 200k more than what the seller paid for only 2 years ago?
Sellers are gone mad.
So you take a promotion and your employer wants you to relocate to a new city. You are 45yo, married with two children in their teens. Your kids need to get settled in school and start making new friends. Your wife needs to find a new job to keep her career momentum moving forward. Are you an idiot to buy? It's doesn't matter what the seller paid. It's not about money. It's about taking care of your family
Prices are not coming down where I'm at. Still going up and up.
I saw a listing in Illinois where a seller bought a fixer upper for 280k, didn’t fix anything and selling As is for 475k 4 months later. Only a moron will buy this. Imagine how sellers are screwing up the comps for the next few years to come.
30k price reductions in michigan but they need to come down 50-60k before i get out of bed because homes are at least 100k over value accross the market
This is also happening in Tulsa Oklahoma because of the $10,000 move to Tulsa program for remote workers and now they have to return to the office. I also found homes in Metro Atlanta that are behind on their property taxes. They paid for the home in full, but the property taxes were due on November 15th and they remain UNPAID. Metro Atlanta will be next on the list and it will move into the Northern Suburbs once Atlanta foreclosures pick up. One TH-camr states that Ginny Mae delinquent homes are being sold to hedge funds and the foreclosure rate is being severely under reported because of this practice. My son is selling his home that he bought in 2019 for $228K for $449K and the appraisal came back at $451K. A ~100% increase in the home value is INSANE in five years and unreasonable. Let the entire market tank by 50%. For those of us hard working Americans we could use a reduction in our property taxes when the counties have to reassess the homes for much less than today's prices. I would love for my property taxes to go down by 50%.
How is it legal for ginnie Mae to sell to hedge fund ? This is illegal and Congress needs to pass a Law! By right of public due process, a house is supposed to go through the formal process of foreclosure and be sold on courthouse steps in its prospective county. This is being underhandedly done right under Americans' noses.
Waiting for prices to drop by 50% or more.
Unfortunately I don't see 50% happening outside of a few very volatile markets. But yeah, nobody can afford current prices, and if it ever starts to decline in earnest it seems likely to collapse like a house of cards...
If inflation still heating up. What are the chances that the house prices stay the same? if you wait for a 50% drop. Goooood luck
I wish, it'll never happen though. We've doubled the amount of dollars in the world's supply since 2020. And you think prices will come down to what they were before doing that? You're not asking for a 50 percent drop you're asking for way more which is actually pretty much physically impossible.
Yup…Atlanta (suburbs and city) going down…just waiting for it to go lower… a lot of new build vacancies… where the new properties are offering rate buy down is slowing resale market…foreclosures from 2years ago hitting market now
I'm an Atlanta broker and can't wait to get my hands on some good quality investments here!!!
*Good video*
I wonder if this trend will continue?
I am in Gig Harbor Wa and if the house isn’t price low, it sits.
Prices goes up and down but crashes.. nahhh. I don’t think so
Happy New Year Matt!
California is going up and up specially in LA. The cheapest house is $1,200,000
High mortgage are the cause of house prices correcting.....I don't think it is overpriced mortgages (home prices just went up 50%, I think correction in price is warranted.....sucks for some, good for others)
People would rather watch homes sit vacant than give anyone a chance
Just wrote your brokerage for a quote. Plan to pickup 4 rentals in the next couple months, possibly more. Finally seeing fixers and rehabs hitting the market. Several have been vacant for several years so I find it interesting they finally hit the market right now.
Nice! What market are you in?
@@MattTheMortgageGuy Please tell me you cover Oregon 🤞
Sw fl! Major price drops!
Now people are moving the goalposts, claiming that its only 5 pct loss.
Is it really just 5%? If an investor bought a house for $630,000 in cash and is now selling it for $600,000, that represents a loss of $30,000. Additionally, there is a loss of potential T-bill interest of 10% over two years (approximately $63,000), and carrying costs. So, in total, if what could have been $685,000 in T-bills is now being let go, after accounting for these losses: $630,000 - $30,000 - $63,000 - 10,000 roughly for taxes = $527,000. What could have been 693,000 now is 527,000.
Did they not say that money in 2024 would be worth less than money in 2022? Well, guess what: now they are left with only $53700 in 2022 money.
If taken mortgage with 20% down then lost entire down payment and then some, 630,000*0.2 = 126000 - 30,000 loss - PITI (100,000) - Commisions - 6000 potential interest
T bills are paying 10% ? And you can’t factor in payments without factoring in rent. Whatever the case I think your math here is pretty skewed.
Tbill 5% for 2 years , 10% total. for investment minded person, renting cheaply is possib
It ain’t happening in Detroit. Prices are still way up since Covid.
Nothing is dropping in Naples Florida.
All these "facts and figures" you present make me wonder why you couldn't get it right in 2022. You were closely following the market. Yet, you dropped the ball. How? Why did you tell people we weren't are the verge of a market crisis? Why? Because you don't know what data is relevant from one year to the next and you're an "expert".
I encourage anyone who reads this to go back and review this guys posts from 2022. You'll see just how on point this guy is with understanding his "facts and figures".
Hi am a realtor with over 20 years of experience and this is the reason why! I don’t do any videos about predicting the market , you just don’t know what can happen in the future!
Home values are declining in every state.
Fact... Maybe Matt can talk about that next time...
False. SoCal and California in general is doing just fine. But I understand y'alls concern in your red state.
So cal is still high
Those states were doing fine too until now @matthewsocal2540
@RafaelsFlix Yes. And it will be even higher next year as those who left realize the error of their arrogant ways. Upon their return, they'll find that our properties have again pushed upwards. As they should being homes in the greatest State in the Union. Sadly, those returning are gong to find that investors are leaving red states and returning to blue (where the money is). I get 4-8 calls a week with cash offers at Zillow's market value. No lack of demand here at all.
We’re in Arizona markets crazy.
Crazy how? I’d love to hear
Lies
The outskirts of Arizona are seeing prices still down from 2022. If inventory continues to increase in 2025, we will see more price cuts and flat appreciation. We have seen some areas sell homes 5% less than in 2022. Marketing time is now about 3 months ,at the end of 2024 versus under a month in 2022
Orange County CA keeps going up
Home values is going down everywhere
No they are not
A $20k loss…?
Oh, please tell us how honest you are, lol
$620-599k in Sacramento is hard to believe. This person overpaid when buying. Also that’s only a 5% drop which is far from a crash. Most home prices have actually gone up in the last few years and will go up even further when rates go down. 😑 still super low supply and tons of people waiting to buy. Sac and CA in general is not budging in $ by much if any.
September 2018 rocked my family with the
hurricane Florence. To lives and properties
displaced we gave $45k. We also gave in 2020
COVID year. The "Treasure Principle" by Randy
Alcorn helped my giving reason why getting $105k
in two months is just evident of God's blessings on
my household. God never faltered on his written and
spoken promises over my family.. All thanks to Mrs Kathy Lien