Hi Kyle, I just wanted to let you know how much I’ve appreciated your videos. I’m a first time homebuyer who is closing on a house within the next two weeks. I found your videos last year and they’ve been so helpful for walking through this process while dealing with people who weren’t the most helpful for first time homebuyers. I really appreciate everything you do and this community you've created. Thanks for your help and making me a more confident buyer!
@@joedecore7971 oh shut it, you don’t know everyone’s specific situation. Some people need to buy right now and others can’t just buy at any time. And no one knows for sure what the market is going to look like for the next few years so how can you say that?
@@andymschott I agree with your a bit. But there's indicators that point towards a housing bubble, and all bubbles eventually pop. So for now, we know we're close if not at the top of the peak.
@@theforce5191 yep not denying that it’s a strong possibility that that is a near future reality. You’re only ever really making a mistake if you’re paying more than you are willing to or more than you can afford.
This happened to me, and while that seller was playing games not commiting to my offer for more than a week I decided to start looking again- found a home that is larger, better location, and more upgraded. On this home my offer was accepted within 24 hours, now closing in 2 weeks!
So you're paying higher bank rates, higher rent and higher gas prices but you want the seller to sell at a discount. Doesn't work like that in capitalism
@@gatorgator7728 well that’s the point. Buyers are having to commit to paying more for a mortgage than rent nowadays so they’re starting to control the market. It’s not a discount if no one wants to buy it at the listing price.
@@andymschott I'm confused here. Mortgages on avg have traditionally been higher than rent. And where's the discount? Low interest rates increase demand and seller pwr. Higher interest rates brings down demand and more availability but higher monthly pymts. So in housing unless you have the cash or inherit a home you're going to either pay the seller his or her higher price, the banks their higher rates or the landlord's higher rent
@@andymschott I just don't get how buyers are cntrling the market when they're paying banks more than they're paying homeowners? Unless you call more availability cntrling the market. Yes but at a higher cost?
This garbage happened to me. I saw a house I liked and put in a full asking offer and split closing. They essentially said they wanted to wait until other offers came in before deciding. After a week of this madness, they called and said ours was the strongest offer. However by that time I'd decided I'm not paying over asking or getting into a bidding war to pay for a realtor's vacation or some BS, so I withdrew my offer. The house sat on the market for three more weeks and then sold for 15k less than our offer.
Yes! These sellers need to stop playing around. I recently put an offer in on a home where the seller kept stalling its decision. In the meantime I found something better. My original choice did go under contract but the price war the seller seemed to be looking for didn’t seem to happen.
Yup, I was in the market and alot of houses were overpriced and in terrible condition. I pulled out because the intrest rates decreasing the quality of house I could afford (and price point), since they were already overpriced to begin with
Reality is starting to set in quickly for sellers/builders. People are not going crazy with offers and I'm seeing builders offering discounts/credits for upgrades...that was unheard of earlier this yr.
I’m still seeing homes listed way over reasonable market price only to be discounted 20%+ in 10 days and/or sellers dropping the price by 1k as if that would bring new buyers in. Lots of denial out there 😄
No denials. Sellers know exactly what they're doing. The same thing oil companies, landlords and banks are doing. Maximizing as much profit as possible in a capitalist country
It depends where you live. In my area inventory is still low, especially in a lower price range. Houses around $200,000 to $250,000 go fast. New construction is double that. I dont see it changing a lot here. Houses are selling quickly with really high offers.
We are starting to see a more balanced market and that’s good. But we have zero chance of seeing a “buyers” market until supply and demand balance out…and we are maybe 5 years plus away from that.
Most buyers do not either. I just had a $250k house near me sell for $750K. People are just dumb at this point. When the bottom drops out and values go down you deserve what you get and there should be no bailouts.
I have bought and sold many homes in hot, and cold markets, it does not matter. As a seller I want as long as I can to have so my agent shop it around in his office, etc..., AS A BUYER you NEVER give a seller more than 48 hours maximum period!
I’m a Realtor in Southeast Texas and our local lenders are starting to push “Seller’s Temporary Buydowns.” Instead of dropping the sales price, the sellers offer CCA to reduce the rate or adjust for the increased interest rates for the first 2 years. Will you make a video about that because although I understand the concept I do have some questions. Thanks!
@@WinTheHouseYouLove Sweet! I’ve been a realtor for 8 years and this is the first time I’ve seen lenders have to really get creative and develop something like this. And now they’re all lining up to take me to lunch. I love your videos and I’m going to start incorporating them into my team trainings!
Nah, we are entering a recession and the FED won't admit it until next year to not ruin Christmas. But Powell already said that they prefer the pain of a recession than the weakening the dollar with an inflation. So, I'm inclined to believe that interest rates will be relatively high so home prices will have to drop.
Love to hear this. Man 3 or 4 months ago i got 2nd place on 3 homes. It was so frustrating. The inventory is definitely slowing down and sellers are getting lazy not upgrading the home and expecting to sell there home for 10 to 20 grand over asking price.
This guy along with a few more have inspired me to put videos on TH-cam about my market in Seattle! Love the content and even used some of the content with my clients!!! Keep it coming!
@win the house you love! I have cosign for a friend of mine about 5 years ago, I’ve been asking them to remove my name of the lease but they have refused to do so! Is there is any option available for to force them to remove my name of the Mortgage and title?
That sucks, how horrible. Unfortunately no, you committed to being liable for that loan. They would have to refinance with your name coming off the loan, but since rates are so high right now your “friend” probably will refuse because their rate would go up and likely their payment depending on how much they’ve already paid down the loan. Plus they would have to qualify for the loan without you now, which they may not be able to do (idk their financial situation). But, It would be a “friendly” thing for them to do.
Rates are obviously up since the beginning of the year, but the higher supply/inventory has made this a much more favorable market for buyers in many ways! Thanks for the helpful updates, Kyle.
I told my kids some six months back: Sellers are normally the last group to find out the market have shifted downward because normally sellers are in denial.
I love your videos! Your advice helped me through the home buying process! I've recently (now 1 year ago already) closed on my home. What should I know as a new home owner to keep or raise the value of my home? Are there things worth investing in over others?
I’m trying to get pre approved for a VA loan. I had a bankruptcy two years ago. The discharge of the debt was 7/22/20. My lender says he can not pre approve me until the earliest day being 7/17/22. Do you believe you could pre approve me before then or should I just wait until then?
Chapter 7 is two years, can be 12 months if you can demonstrate that it was out of your control. Chapter 13 is 12 months of on time payments on the repayment plan AND the trustee needs to sign off on the mortgage application.
@@WinTheHouseYouLove Can I submit for a pre approval through you? Lol I’d like to start earlier than next week if possible and I believe I could make a case to an underwriter that it was out of my control. Pandemic and all 🤷🏾♂️. Ultimately my two years is up this month. However I’d like to get pre approved right if possible to start being able to make offers.
I've started the sell process. My realtor and I have been having a good laugh at sellers listing prices that are waaay too high because we know they'll have to lower their price in a month, making the home seem worse than it is 😆 some sellers are just shooting their shot rn
Do you ever have clients who move from completely out of the area for affordability? Would you say they're happy or they regret it? I live in a small town in CA where 3 years ago you could get a home for $200k. Now things are half a million+ with super low inventory and no end in sight to the madness. Crushing my dreams. Trying to weigh staying here and renting with the hope of an eventual correction sometime in the future or cutting my loses and moving somewhere I can afford now 😕
I 100% understand this. If you live in that small town, best bet is to just move in with parents if possible, help them out with groceries or a bill and in the meantime, save up for a good down payment. The market is cooling down now and it isn’t looking to good for sellers. Prices should come back down to reality in the next couple of years IMO.
Some buyers....(not the majority) are not sensitive to interest rates as they have large cash reserves to buy outright or make large down payments (50% or more)
The smartest thing you can do as a buyer right now is to wait. If you can wait 12 to 18 months, you will be able to purchase the house at around 2018 levels. And depending on the severity of the downtrend that is beginning, you may even be able to purchase the house for 2015 levels! Either way, your best bet is to just wait a little longer and get the house you want for the price you want. This will also give you more time to put a larger down payment. Buying right now is the equivalent of buying in late 2007. You really shouldn't do this!
Issue is that this isn't a buyer's market either. 6% interest rate, are you kidding me. This is a lose-lose for the buyer and the seller. The buyer isn't going for it because we honestly could reach 7% interest rate. The seller isn't getting a good deal because demand is dropping. The only person who benefits is someone who can pay with cold-hard cash. In the long run they are not making more houses, they are not making new property (especially not with inflation and with everything so expensive anyway), so regardless of what happens there is still going to be the demand for homes. But basically big corporations are just going to buy these houses and then rent them out. So only the big fish win. That said, if you do have cash to buy property, this is your home court. Buy houses at a discount and don't get a percentage hit - but imo very very very few people have the capability to do that on the house they want.
In a few months? I’ll offer $300,000 WITH inspection, seller to repair anything that comes up from inspection deducted from price, and seller to absorb all closing costs. Boom.
well definitely look into history of the property as well to make sure you are paying a fair price. some owners bought during the high point and are trying to sell less than 1 month later for slightly more ($20,000) .
Rates, rents, gas and food are inflated but you want to single out homeowners for doing the same thing. Lower cost, but higher interest rates. So where are you not paying more?
This video is definitely true in our area (Northern/Central Indiana). Right now, you still have to be somewhat aggressive in getting an offer in. However, it’s not as if houses are being sold at +$20,000 or +$30,000 over asking price anymore. Sellers are in for a rude awakening!
slowing down does not mean it's depreciating lol. It means it's getting more expensive at a slower rate. If you couldn't afford, you still can't afford.
If a house was 603k and I made bid for 550k and the final offer is 555k, do you think that was a great deal? Or should I have tried to aim closer to 520k?
They will usually give you a counter offer so you might as well offer them what you want to pay for your 1st offer. close mouths don't get fed. I also feel like if they lowered the price 50k that there is way more wiggle room and they know their house isn't worth that much. Something must be going on and wrong with the house. Always get an inspection from a trusted inspector too.
Inventory is way up in my local market and alot more price drops along with longer days on the market. My realtor was basically bullshitting me....I am waiting
We will see some markets become balanced but I doubt we see many buyers markets anytime. Things will correct but it won’t be a complete 180 and certainly won’t crash. Too much demand from first time millennial homebuyers entering their 30s.
Hi!! Love your content! Are we, as buyers, yet in a position to start asking for closing costs? I’m so excited by the beginning of what looks to be some softening of the market finally!
Please do a video comparing owning vs rental specifically in terms of costs and responsibilities. It's easy to say mortgage is generally cheaper than rent, but owning also comes with its own maintenance costs and other things. Could you at least breakdown what factors we should take into account so we can decide whether renting or owning is right for us?
hi kyle another informative video your awesome .i have recommended my sisters to watch your videos your the best when it comes to home buying. thanks again😊
Great advice....sometimes I wonder if the listing agents are informing their sellers about the current market conditions 🤔 I wish I was keeping track like Javier about the increase in listings...but there are definitely more in my area. Everything listed is still high in price but sitting on the market longer. Can't wait until theres a buyer's market....wish every seller can see this video
I imagine it's difficult for agents to do that sometimes because that's not what sellers want to hear. Many times sellers will choose an agent that tells them what they want to hear
I think there are some amateur listing agents that just really got started when the pandemic happened, so they haven't had any experience with a more normal market. I'm a seller working with a very experienced realtor now so she's not blowing smoke about the current state of the market
@@WinTheHouseYouLove Yep! Sometimes it’s hard to get sellers to see or take our advice because of the hot market we’ve had for a while. In time, they’ll see though.
I think this guy presumes to much. Unless the market has gone from to many buyers and not enough houses on the market to to many sellers and not enough buyers in the market then the market HAS NOT CHANGED and is NOT CHANGING! The video title is WRONG! Sellers know the market and understand if this buyer doesn't play ball as the saying goes, another buyer will play ball. The current market is a SELLERS MARKET. Until that shifts to a BUYERS MARKET, the market IS NOT CHANGING. He's wrong and pushing propraganda!
@@wanaraz Here in Minnesota we have a record setting $9.2B-Billion Dollar surplus. The Governor and State Legislature are all up for reelection in November. They have to return most of that money to the state businesses and residents. This mitigates the high interest rate argument in Minnesota for home buyers. Why? Because that money will go to Homebuyer assistance programs, closing costs, etc for homebuyers thus mitigating the high interest rates on mortgages. However most real estate agents are ignorant and push the narrative that interest rates matter but never mention the budget surpluses. Any state that has a Budget surplus can mitigate high interest rates for its state citizens.
@@WinTheHouseYouLove FYI! Here in Minnesota we have a record setting $9.2B-Billion Dollar surplus. The Governor and State Legislature are all up for reelection in November 2022. They have to return most of that money to the state businesses and residents. This mitigates the high interest rate argument in Minnesota for home buyers. Why? Because that money will go to Homebuyer assistance programs, closing costs, etc for homebuyers thus mitigating the high interest rates on mortgages. However most real estate agents are ignorant and push the narrative that interest rates matter but never mention the budget surpluses. Any state that has a Budget surplus can mitigate high interest rates for its state citizens.
Your prerogative and theirs as well. If your house is priced well it will sell if not it will sit. Inventory is only going to continue to rise in the near term, especially since the most recent CPI numbers and pending recession. Your position will only weaken for the foreseeable future.
Hi Kyle, I just wanted to let you know how much I’ve appreciated your videos. I’m a first time homebuyer who is closing on a house within the next two weeks. I found your videos last year and they’ve been so helpful for walking through this process while dealing with people who weren’t the most helpful for first time homebuyers. I really appreciate everything you do and this community you've created. Thanks for your help and making me a more confident buyer!
Your making a huge mistake buying a house right now! It’s just a fact!
@@joedecore7971 oh shut it, you don’t know everyone’s specific situation. Some people need to buy right now and others can’t just buy at any time. And no one knows for sure what the market is going to look like for the next few years so how can you say that?
@@joedecore7971 Stop commenting on everyones comments lol. You dont know anyones situation
@@andymschott I agree with your a bit. But there's indicators that point towards a housing bubble, and all bubbles eventually pop. So for now, we know we're close if not at the top of the peak.
@@theforce5191 yep not denying that it’s a strong possibility that that is a near future reality. You’re only ever really making a mistake if you’re paying more than you are willing to or more than you can afford.
This happened to me, and while that seller was playing games not commiting to my offer for more than a week I decided to start looking again- found a home that is larger, better location, and more upgraded. On this home my offer was accepted within 24 hours, now closing in 2 weeks!
That's awesome! Congratulations. :)
So you're paying higher bank rates, higher rent and higher gas prices but you want the seller to sell at a discount. Doesn't work like that in capitalism
@@gatorgator7728 well that’s the point. Buyers are having to commit to paying more for a mortgage than rent nowadays so they’re starting to control the market. It’s not a discount if no one wants to buy it at the listing price.
@@andymschott I'm confused here. Mortgages on avg have traditionally been higher than rent. And where's the discount? Low interest rates increase demand and seller pwr. Higher interest rates brings down demand and more availability but higher monthly pymts. So in housing unless you have the cash or inherit a home you're going to either pay the seller his or her higher price, the banks their higher rates or the landlord's higher rent
@@andymschott I just don't get how buyers are cntrling the market when they're paying banks more than they're paying homeowners? Unless you call more availability cntrling the market. Yes but at a higher cost?
This garbage happened to me. I saw a house I liked and put in a full asking offer and split closing. They essentially said they wanted to wait until other offers came in before deciding. After a week of this madness, they called and said ours was the strongest offer. However by that time I'd decided I'm not paying over asking or getting into a bidding war to pay for a realtor's vacation or some BS, so I withdrew my offer. The house sat on the market for three more weeks and then sold for 15k less than our offer.
Woof that sucks
Yes! These sellers need to stop playing around. I recently put an offer in on a home where the seller kept stalling its decision. In the meantime I found something better. My original choice did go under contract but the price war the seller seemed to be looking for didn’t seem to happen.
Yup, I was in the market and alot of houses were overpriced and in terrible condition. I pulled out because the intrest rates decreasing the quality of house I could afford (and price point), since they were already overpriced to begin with
That's a good decision! We can't be half-hearted when buying a home. Thanks for sharing this. :)
Reality is starting to set in quickly for sellers/builders. People are not going crazy with offers and I'm seeing builders offering discounts/credits for upgrades...that was unheard of earlier this yr.
For sure
I’m still seeing homes listed way over reasonable market price only to be discounted 20%+ in 10 days and/or sellers dropping the price by 1k as if that would bring new buyers in. Lots of denial out there 😄
No denials. Sellers know exactly what they're doing. The same thing oil companies, landlords and banks are doing. Maximizing as much profit as possible in a capitalist country
Are you a Realestate agent?
@@Bigmike6197 No. A homeowner
@@gatorgator7728 I’m 12 and this comment is deep
3 weeks later drop 10k lol
It depends where you live. In my area inventory is still low, especially in a lower price range. Houses around $200,000 to $250,000 go fast. New construction is double that. I dont see it changing a lot here. Houses are selling quickly with really high offers.
Good insight
Looking to start putting in offers soon as a first time buyer. This was incredibly great timing! Thanks for the quality advice
Glad it was helpful!
Don’t do it man your gonna be sorry
If you waited this long, just keep waiting! People are going to be given a huge awakening
We are starting to see a more balanced market and that’s good. But we have zero chance of seeing a “buyers” market until supply and demand balance out…and we are maybe 5 years plus away from that.
Thank you for sharing your perspective
5 years? 5 months tops
@@grod805 1 month in and we’re not even close and the worst of it is behind us…but I’ll be back in 5 months 🤣🤣🤣
Just happened to me. Back on the search I guess. The bright side is new construction is also coming down pretty decently. 💪🏾
Nice! Best of luck. :)
Most buyers do not either. I just had a $250k house near me sell for $750K. People are just dumb at this point. When the bottom drops out and values go down you deserve what you get and there should be no bailouts.
Listen to this guy! I am an MLO myself and he is 100 percent correct. Thanks bud!
Thank you so much for watching!! :)
I have bought and sold many homes in hot, and cold markets, it does not matter. As a seller I want as long as I can to have so my agent shop it around in his office, etc..., AS A BUYER you NEVER give a seller more than 48 hours maximum period!
Agreed
Clicked for the eye candy, stayed for the voice, and subscribed for all of the above.
The good info helps 😜
Thanks! 🥳
I’m a Realtor in Southeast Texas and our local lenders are starting to push “Seller’s Temporary Buydowns.” Instead of dropping the sales price, the sellers offer CCA to reduce the rate or adjust for the increased interest rates for the first 2 years. Will you make a video about that because although I understand the concept I do have some questions. Thanks!
I'll add it to my video list!
@@WinTheHouseYouLove Sweet! I’ve been a realtor for 8 years and this is the first time I’ve seen lenders have to really get creative and develop something like this. And now they’re all lining up to take me to lunch.
I love your videos and I’m going to start incorporating them into my team trainings!
You have a very nice voice.
Thank you!
Purchased a house with my wife for 30k under listed price listing to your advice we closed in March in under 30 Days
Yay congrats!
The only thing in your favor is the high interest rates. This will cause a slow down. But after Nov watch out.
Let's see and hope for the best. :)
Nah, we are entering a recession and the FED won't admit it until next year to not ruin Christmas. But Powell already said that they prefer the pain of a recession than the weakening the dollar with an inflation. So, I'm inclined to believe that interest rates will be relatively high so home prices will have to drop.
Love to hear this. Man 3 or 4 months ago i got 2nd place on 3 homes. It was so frustrating. The inventory is definitely slowing down and sellers are getting lazy not upgrading the home and expecting to sell there home for 10 to 20 grand over asking price.
This guy along with a few more have inspired me to put videos on TH-cam about my market in Seattle! Love the content and even used some of the content with my clients!!! Keep it coming!
Awesome, keep it up, Emil!
@@WinTheHouseYouLove you too!
@win the house you love! I have cosign for a friend of mine about 5 years ago, I’ve been asking them to remove my name of the lease but they have refused to do so! Is there is any option available for to force them to remove my name of the Mortgage and title?
Hmm, you'll likely need to talk to an attorney about that
That sucks, how horrible. Unfortunately no, you committed to being liable for that loan. They would have to refinance with your name coming off the loan, but since rates are so high right now your “friend” probably will refuse because their rate would go up and likely their payment depending on how much they’ve already paid down the loan. Plus they would have to qualify for the loan without you now, which they may not be able to do (idk their financial situation). But, It would be a “friendly” thing for them to do.
The way things are changing I wouldn’t be surprised if the White House ain’t up for sale
It has been up for grabs every 2 years...
@@Sunshine4 haha, my intuition was tingling
Hahah
Rates are obviously up since the beginning of the year, but the higher supply/inventory has made this a much more favorable market for buyers in many ways! Thanks for the helpful updates, Kyle.
I told my kids some six months back: Sellers are normally the last group to find out the market have shifted downward because normally sellers are in denial.
For sure
I love your videos! Your advice helped me through the home buying process! I've recently (now 1 year ago already) closed on my home. What should I know as a new home owner to keep or raise the value of my home? Are there things worth investing in over others?
Awesome!! Congrats! I think those are great questions for a video, added to my list :)
I dig the mustache bro. And thanks for posting helpful videos!
I’m waiting for Kyle to join the Beard Gang! 🧔♂️
he's hot. hope he's gay
Thanks for watching! I'm glad you like it :)
@nubian Queen tee hahah I wish I could! It's too patchy on the sides :(
I’m trying to get pre approved for a VA loan. I had a bankruptcy two years ago. The discharge of the debt was 7/22/20. My lender says he can not pre approve me until the earliest day being 7/17/22. Do you believe you could pre approve me before then or should I just wait until then?
Chapter 7 is two years, can be 12 months if you can demonstrate that it was out of your control. Chapter 13 is 12 months of on time payments on the repayment plan AND the trustee needs to sign off on the mortgage application.
What Drew said :)
@@WinTheHouseYouLove Can I submit for a pre approval through you? Lol I’d like to start earlier than next week if possible and I believe I could make a case to an underwriter that it was out of my control. Pandemic and all 🤷🏾♂️. Ultimately my two years is up this month. However I’d like to get pre approved right if possible to start being able to make offers.
Can't you put a large down on it?
@@marcalexander6450 Or ..... Just wait until the 17th 😶
I've started the sell process. My realtor and I have been having a good laugh at sellers listing prices that are waaay too high because we know they'll have to lower their price in a month, making the home seem worse than it is 😆 some sellers are just shooting their shot rn
Our history books are filled with degenerative behaviors; these times are fodder.
Great info. Kyle.
Glad you think so! Thank you. :)
Do you ever have clients who move from completely out of the area for affordability? Would you say they're happy or they regret it? I live in a small town in CA where 3 years ago you could get a home for $200k. Now things are half a million+ with super low inventory and no end in sight to the madness. Crushing my dreams. Trying to weigh staying here and renting with the hope of an eventual correction sometime in the future or cutting my loses and moving somewhere I can afford now 😕
I 100% understand this. If you live in that small town, best bet is to just move in with parents if possible, help them out with groceries or a bill and in the meantime, save up for a good down payment. The market is cooling down now and it isn’t looking to good for sellers. Prices should come back down to reality in the next couple of years IMO.
What difference does having leverage make when interest rates are 6% in an overpriced housing market
Thank you for sharing your perspective
Some buyers....(not the majority) are not sensitive to interest rates as they have large cash reserves to buy outright or make large down payments (50% or more)
So weird lol . When I bought my house it was the polar opposite of your scenario at the beginning lol.
The smartest thing you can do as a buyer right now is to wait. If you can wait 12 to 18 months, you will be able to purchase the house at around 2018 levels. And depending on the severity of the downtrend that is beginning, you may even be able to purchase the house for 2015 levels! Either way, your best bet is to just wait a little longer and get the house you want for the price you want. This will also give you more time to put a larger down payment. Buying right now is the equivalent of buying in late 2007. You really shouldn't do this!
I appreciate hearing your input
Thank you. Good video
Glad you liked it!
Issue is that this isn't a buyer's market either. 6% interest rate, are you kidding me. This is a lose-lose for the buyer and the seller. The buyer isn't going for it because we honestly could reach 7% interest rate. The seller isn't getting a good deal because demand is dropping. The only person who benefits is someone who can pay with cold-hard cash. In the long run they are not making more houses, they are not making new property (especially not with inflation and with everything so expensive anyway), so regardless of what happens there is still going to be the demand for homes. But basically big corporations are just going to buy these houses and then rent them out. So only the big fish win. That said, if you do have cash to buy property, this is your home court. Buy houses at a discount and don't get a percentage hit - but imo very very very few people have the capability to do that on the house they want.
Thank you for sharing your perspective
In a few months?
I’ll offer $300,000 WITH inspection, seller to repair anything that comes up from inspection deducted from price, and seller to absorb all closing costs.
Boom.
well definitely look into history of the property as well to make sure you are paying a fair price. some owners bought during the high point and are trying to sell less than 1 month later for slightly more ($20,000) .
Great suggestion
This is encouraging. Thank you!!
My pleasure. :)
Rates, rents, gas and food are inflated but you want to single out homeowners for doing the same thing.
Lower cost, but higher interest rates. So where are you not paying more?
Thank you for sharing your perspective
@@WinTheHouseYouLove You're welcome. I'm in defense of homeowners since ppl are criticizing their successes
This video is definitely true in our area (Northern/Central Indiana). Right now, you still have to be somewhat aggressive in getting an offer in. However, it’s not as if houses are being sold at +$20,000 or +$30,000 over asking price anymore. Sellers are in for a rude awakening!
slowing down does not mean it's depreciating lol. It means it's getting more expensive at a slower rate. If you couldn't afford, you still can't afford.
I think it's happening in smaller markets first for sure (maybe the more intense markets will catch on)
Most Buyers also Sellers dude LOL
This channel is oriented towards first time buyers
I needed to hear this, thank you!
Thank for watching. Best of luck!
If a house was 603k and I made bid for 550k and the final offer is 555k, do you think that was a great deal? Or should I have tried to aim closer to 520k?
They will usually give you a counter offer so you might as well offer them what you want to pay for your 1st offer. close mouths don't get fed. I also feel like if they lowered the price 50k that there is way more wiggle room and they know their house isn't worth that much. Something must be going on and wrong with the house. Always get an inspection from a trusted inspector too.
Inventory is way up in my local market and alot more price drops along with longer days on the market. My realtor was basically bullshitting me....I am waiting
Thank you so much for watching!! :)
We will see some markets become balanced but I doubt we see many buyers markets anytime.
Things will correct but it won’t be a complete 180 and certainly won’t crash. Too much demand from first time millennial homebuyers entering their 30s.
Thank you for sharing your perspective
Dosnt matter how much gheywant a house if they can't afford it.
Massive disaster is on the way!! My karma spells on all those who stole homes after 2008 are working!! Praise be!😄
Let's hope for the best for all of us. Thanks for watching. :)
Great video as always.
Thank you!
Hi!! Love your content! Are we, as buyers, yet in a position to start asking for closing costs? I’m so excited by the beginning of what looks to be some softening of the market finally!
Thank you so much for watching!! :)
I think some markets are shifting that way, it's worth talking to your agent about it!
Thanks! This is exactly what I needed to hear !!
Glad it was helpful! Thanks for watching. :)
Thank You for this information I am planning on going for purchasing my first home spring 2023
Awesome!
Saw a post on reddit buyer decided to pull out. Seller is suing for pulling out. Seller sold house for 40k less. Thats what's he's suing for.
I saw that too! Likely the buyer is protected by contingencies
Please do a video comparing owning vs rental specifically in terms of costs and responsibilities. It's easy to say mortgage is generally cheaper than rent, but owning also comes with its own maintenance costs and other things. Could you at least breakdown what factors we should take into account so we can decide whether renting or owning is right for us?
Maybe I'm misremembering but I think he did
@@stephaniechilders5176 I'll def go through his videos again and check back! Thanks
I made a video a while ago, but it would be good for me to make an update :)
hi kyle another informative video your awesome .i have recommended my sisters to watch your videos your the best when it comes to home buying. thanks again😊
Thank you so much for watching!! :)
Great advice....sometimes I wonder if the listing agents are informing their sellers about the current market conditions 🤔 I wish I was keeping track like Javier about the increase in listings...but there are definitely more in my area. Everything listed is still high in price but sitting on the market longer. Can't wait until theres a buyer's market....wish every seller can see this video
I imagine it's difficult for agents to do that sometimes because that's not what sellers want to hear. Many times sellers will choose an agent that tells them what they want to hear
I think there are some amateur listing agents that just really got started when the pandemic happened, so they haven't had any experience with a more normal market. I'm a seller working with a very experienced realtor now so she's not blowing smoke about the current state of the market
@@WinTheHouseYouLove Yep! Sometimes it’s hard to get sellers to see or take our advice because of the hot market we’ve had for a while. In time, they’ll see though.
Often times agents are trying to explain the sellers, but sellers sometimes “know” more than agents, if you know what I mean…
I think this guy presumes to much. Unless the market has gone from to many buyers and not enough houses on the market to to many sellers and not enough buyers in the market then the market HAS NOT CHANGED and is NOT CHANGING! The video title is WRONG! Sellers know the market and understand if this buyer doesn't play ball as the saying goes, another buyer will play ball. The current market is a SELLERS MARKET. Until that shifts to a BUYERS MARKET, the market IS NOT CHANGING. He's wrong and pushing propraganda!
Interest rates are high. There is a bit of lag but sellers will have to play ball for awhile.
Thanks for sharing your opinion, Anthony
@@wanaraz Here in Minnesota we have a record setting $9.2B-Billion Dollar surplus. The Governor and State Legislature are all up for reelection in November. They have to return most of that money to the state businesses and residents. This mitigates the high interest rate argument in Minnesota for home buyers. Why? Because that money will go to Homebuyer assistance programs, closing costs, etc for homebuyers thus mitigating the high interest rates on mortgages. However most real estate agents are ignorant and push the narrative that interest rates matter but never mention the budget surpluses.
Any state that has a Budget surplus can mitigate high interest rates for its state citizens.
@@WinTheHouseYouLove FYI! Here in Minnesota we have a record setting $9.2B-Billion Dollar surplus. The Governor and State Legislature are all up for reelection in November 2022. They have to return most of that money to the state businesses and residents. This mitigates the high interest rate argument in Minnesota for home buyers. Why? Because that money will go to Homebuyer assistance programs, closing costs, etc for homebuyers thus mitigating the high interest rates on mortgages. However most real estate agents are ignorant and push the narrative that interest rates matter but never mention the budget surpluses.
Any state that has a Budget surplus can mitigate high interest rates for its state citizens.
@@thecriticallogicalthinker The state returning money? LOL
People see these videos and get so cocky though lol my house is appraised at 650k and I had someone offer me 500k yesterday LOL bye bye GTFO
Interesting
Your prerogative and theirs as well. If your house is priced well it will sell if not it will sit.
Inventory is only going to continue to rise in the near term, especially since the most recent CPI numbers and pending recession. Your position will only weaken for the foreseeable future.