It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
I recently sold my home in the Boca Grande area and am considering investing a lump sum into the stock market before the anticipated rebound, couple of folks have been discussing a potential May rally, speculating on which stocks may experience substantial growth during the festive season. Do you have any insight into which stocks these might be?
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
My CFA ’’ Sharon Ann Meny, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
We purchased a home in Hockley,Texas in 2021. The two real estate agents got together and called their home inspector. He let a lot of very bad things pass. We had to completely rebuild an outer wall because it was eaten by carpenter ants. The list goes on and on…. So don’t let either real estate agent recommend an inspector.
This is precisely why agents around here (I'm near you) should be strongly suggesting a WDI (wood-destroying insect) inspection with every regular inspection. Personally, I'd never buy a house in the Houston area without one.
I had the same experience. Mine was basement flooding, 5 layers on the roof and old wiring in the walls. Though the wires coming from the breaker box were new spliced in. Then the inspector died. No recourse. And the realtor was a supposed friend.
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
consider moving your money from the housing market to financial markets or gold due to high mortgage rates and tough guidelines. Home prices may need to drop significantly before things stabilize. Seeking advice from a financial advisor who understands the market could be helpful in making the right decisions.
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
I just built a 2000 sq ft building with 2 private bathrooms, small 6 unit laundromat, and hang out area of 24x30 with a pool table. My cost was $110,000.00. i already owned the land. I did my own concrete forms/plumbing, siding, trim work,flooring, painting and security system. I hired the cement finishers, framers, roofers and insulation. Save your money and build it yourself. Im building my son a house next year, he's saved his money and were building a 1200 square ft home tgat he can add a 3rd bedroom, garage, bathroom onto later. Yall need to avoid all that debt
@makethingshappen8427 i paid 170 a yard. We got a deal because I buy a lot of concrete and this project (for an rv park) was less than 2 miles from the concrete plant
Now that corporations are buying homes, they will make sure prices never drop. Of course, there will always be some regional adjustments based on local economics.
People worry about corporations buying 10,000 homes, but give no consideration to 10 million illegal aliens crossing the border needing housing. That’s 100x more people than corporations buying homes
Exactly. We are in territory we’ve never seen before where private residential homes are now vastly owned by major corporations thus it’s the first time the housing market has been susceptible to massive corporate manipulation on this scale. They can basically do whatever they want to house prices now.
@@onlycreamofthecrop WTH are you talking about? Estimates in 2022 were that 450,000 to 575,000 single family homes were owned by about 32 investment companies. It’s only gone up since then.
Wayne, I think your spot on about home prices when you’re speaking of individuals buying homes for families buy homes. The one thing that you’re not taking into consideration is when investment groups like Blackrock come in and start buying thousands of homes. When this happens the principle of supply and demand Gets taken to a place where individuals can’t go. Unless and until something is down about that I don’t think you’re gonna see any significant dropping home prices.
Right. But we are seeing large investors leave the market (not Blackrock size yet) This is the start of a new market, price reductions every where in the country, homes sitting on market over 30 days, this is the start of the down turn. Give it another 6 months to see much more down turn.
IMO it’s difficult to set down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
A lot of folks have been going on about the bull rally and said stocks that would be experiencing significant growth, any idea which stocks this may be? I just sold my home in the BAY county area and I’m looking to remunerate a lump sum into the stock market before stocks rebound, is this a good time to buy or no?
It's gotten especially difficult since the pandemic, hence why I decided to use the expertise of an advisor, my spouse kicked against the idea initially, but oh well guess who's best buddies with our advisor now.
Finding financial advisors like ‘Grace Adams Cook’ who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Man i hope people leave CA... its too crowded here.... but I think prices drop when everyone is all in Long. Which I think we are very close to being. No more buyers... the markets crash. ❤
The market is ridiculously inflated by all the government incentives and giveaways to encourage people to buy housing. This is wrong. The government should stay totally out of the market place
Ever since real estate market became financialized decades ago, prices were no longer tethered to inflation. The proof is in the pudding: prices have exponentially risen faster than inflation has in the last 15 years. The RE market has become dependent on a mountain of debt to push prices up. Today, transactions are stagnant because credit is frozen and general incomes are not high enough to make up the difference. Sales leads prices.
I'm 35, live and work in California and have almost saved enough for a down payment on a decent house here. I'm second-guessing my decision because home prices are higher than I budgeted, and there are rumours about a potential market crash. Am I better off putting my spare cash in stocks and waiting for home prices to drop, or should I go ahead and buy a home now?
Stocks can offer way higher returns in the short term, but it's also more volatile. If you feel confident in your ability to navigate the stock market then it might be a better option
Two years ago, I was in a similar situation and ultimately decided against buying a home since I was comfortable in my rented apartment... That turned out to be a great choice because now, I make close to 15 grand a month from it! If you have the time, I recommend making a thorough research on how to go about this process safely... Alternatively, consider working with an expert, like I eventually did, to help avoid costly mistakes, especially in the early stages... Good luck...
@@devereauxjnr been considering going into this for sometime now. heard its a nice way to make some extra funds. how do you get a competent expert and how expensive are they
@RootBeerGMT my realtor told me every first time home buyer can be approved for a vs loan no matter if you served or not. Banks and other greedy ppl will tell you this is a lie to get money off your down payment
Just for clarity as a lot of terms get thrown around. Affordable housing is a term that refers to housing that is affordable for households of various income levels. The term is generally defined as housing where the occupant pays no more than 30% of their gross income for housing costs, including utilities. Back in the early 2000s lenders and investment banking seized on opportunities to extend peoples perceived ability to buy real estate they otherwise could not afford. This was done though "special loan packages" that include progressive variable rates, no money down, etc. Today the median home equals +40% of gross income which is significantly above the excepted affordability threshold. We are definitely in a consumption economy and unfortunately it will not end well for many who truly should take refocus on living within their means.
Indeed! When everyone is acting irresponsibly that doesn't mean it's okay to act similarly. You will simply suffer the same fate as they do, however, I am left wondering how this all plays out. When enough people think they're right and demand action ... things can happen and the market can move only worsening the situation for the reasonable and thoughtful. In the land of the blind, the one-eyed man is NOT king. He is slaughtered for seeing what others cannot. People don't like seeing others succeed when they're hurting.
Agreed. One issue is “the people” are too weak and scared to ask for well deserved raises. People need to band together gain negotiating power and make it fair again. I’m usually against unions as they are often corrupt and stop making their members #1, and they can halt economic growth, but it seems like they are drastically needed again.
Excellent video. However, I would like to point out that from an architectural standpoint, a 1/2 bath contains only a sink & toilet, a full bath contains a sink, toilet & combination tub/shower or separate tub & walk-in shower. The bathroom noted near the end of the video, which includes a sink, toilet & walk in shower is a 3/4 bath. It's possible that this is perceived differently in other parts of the country, but in the Northeast, people take their bathroom distinctions very seriously, especially regarding home sales.
"only the market knows" - yep, that's really the only correct answer. We can all speculate on where the market is going. We are definitely at record levels of unaffordability. Historically, it's corrected, but nothing is guaranteed. Another round of fast inflation could keep things relatively unaffordable indefinitely.
This is true but you can also spot generally trend that extend across markets and one market can give you informed insight on what another market might do. So it's not a blind guess. Right now most markets are starting to soften a little bit. Average days a house is on the market is increasing in most places. So we can infer from this it is likely house prices will not increase at the same rate they have been. But a drop in prices in any market takes lot thats very different. So while I don't disagree with any of this. It's like guess at a 4 question multiple choice question we know 2 of the possible answers are not right.
@@tylerproctor4878 Well said. You saved me a lot of typing. Anyone who says "All Real Estate is local" and stops there, is either a Realtor or someone of very limited intelligence. At the very least we should say all Real Estate is local...until it isn't. Although it's far more nuanced than that as well.
@CaptainCaveman1170 thank you my friend. I wrote it quickly. Looks like I made some grammatical errors, but I'm glad to hear that you understood and like what I said.
There are some parts of the market that are getting destroyed already... TX and FL come to mine... but that is not going to stay contained.... we will have an epic.. make the GFC and Dot Com crash look mild event. I hope folks are not counting on their house to be a piggy bank... it have never been looked at that way. It should be looked at ... as pay it off as fast as you can... liability not an asset. American's got it wrong. ❤
Listen to Wayne, TONS of home buyer tips and Know-how on his videos. Owner builder & semi-rural is the way to go anymore ( Think the USDA route). Yo can build a single story 9 ft ceiling ranch style home ( 32x48 ) with a 2 car garage porch on a concrete slab for about 130K including the price of one acre of land. If you add a 3 ft crawl space to keep it from flooding add another 7K for the cinder-blocks and labor. If you want brick siding, add another 10K Once you title that house in your county, it is worth at least 160K ( Basic, no brick and no crawl-space ). At that point not only you are in equity position from day one, but you also step into a brand new house designed to your liking, and built with better materials...🥂
i just found your channel, i’m a vet from the achaffalaya area of LA that moved to the houston area about 5-6years ago. i really appreciate all the knowledge you drop! thanks brudduh!
Love your videos! They are priceless and succinct! Please do a video on what it takes for a person on disability to purchase a home. (NOT a veteran) Thank you!!
You failed to mention the effect private equity is having on residential real estate prices, Wayne. I remember the early 80s when real estate was DOWN all over the US except in ONE market. HAWAII. Japanese investment, fueled by a strong Yen, ended up in Hawaii and exploded the cost of housing. By 1990 the ride was over for Japan, a huge bubble had been created and they couldn't give away the property they had overpaid for. Fast forward to today and you have a similar situation where private equity is driving up the cost of real estate by overpaying. Now, the motives between the Japanese investors in Hawaii were different than that of private equity, but the result is the same. Prices won't go down until private equity has had their run. There will be a bubble and private equity will get out of the market once they've taken their profits. Then perhaps housing prices will go back to normal.
Overpaying? Based on what criteria? In general, Black Rock is an evil entity. That being said, people complain about Black Rock buying 10,000 homes, but the give little consideration to 100x 10 million illegals crossing the border that need housing. Markets want to reach equilibrium state in free market economies, look at what the government is doing to prevent this equilibrium state
Once housing starts to drop (and it will) those companies and private equity are going to be selling at losses. They have trigger points. The boomers that joined in on all the fun are just going to add to the epic crash this coming. That is not going to stay in the housing market it is going to be an all market crash. I am not even sure which market pops first ... it doesn't matter... that one that does pop, pops the other ones. I am ready. ❤
Things are getting worse! Low-paying jobs, inflation, and insane rental rates prevent many from saving. Home ownership, a traditional retirement asset, is now out of reach for middle-class Americans.
I'm 62, and rising prices have derailed my retirement plans . I worry that today's economic conditions are more challenging than ever. The stock market's unpredictability, coupled with reduced income and soaring inflation, makes me anxious about having enough for retirement.
I've found working with a fiduciary advisor has been invaluable in navigating market uncertainty. Their expertise in risk management and hedging has helped me grow my retirement savings significantly to almost a million. With their guide, I've learned to diversify effectively, manage risk, adapt to changing market conditions. Their strategic approach has given me peace of mind and improved my financial outlook.
What is the general rule of thumb or perhaps realtor policy when it comes to how much time you can spend in a home you're interested in buying? Because a lot of times you're whisked around on a 10 minute tour, shake hands of it and let them know in a few days. Now I don't know about most folks, but I need more time with the place to see if it grows on me or not. I almost closed on a home about 12 years ago. The owners had accepted my offer and the realtor was setting me up to finalize the paper work. Maybe it was cold feet but something was bugging me. I felt rushed through it. So I asked if I could go back to the house one more time and spend some more time looking around. They let me. And when it was just me and I had the peace of mind to sit in the space for a good 20 minutes or so, I just started to not like it. It felt uncomfortable. I recalled that during the first showing, we all hung out in the kitchen most of the time. And for good reason. The family room was depressingly small and galley shaped with a fireplace that took up like the whole room. I went back to the kitchen and noticed that without "Stuff" in it, the cabinetry really looked like it was falling apart. The longer I spent time in there, I liked it less and less and less. So I went back to the realtor's office and she was excited with the paper work all out and ready to go. I said, "You're not gonna be happy with me but this is an insane sized purchase to make. I've spent more consideration time on a mattress than I have this house. After a rewalk and some thinking I'd like to withdraw. Thankfully I wasn't charged a deposit or anything. I think they had two other parties interested in it which may have helped. But it got me thinking.... Am I the only one that feels like you should get to spend like a good day in a home you're seriously considering to purchase? Or are most people fine with just a once zip through impression and that's more than enough to make you sleep easy at night feeling good about your choice?
Agreed. I did the same but didn’t have the ability to get out. But God helped me to make the repairs and is faithfully working with me. However I learned my lesson.
@@TheRealWayneTurner Thank you for taking the time to read and respond to my question. Your knowledge and videos of this industry is amazing. I had a house showing where the homeowner came back because he had left a handgun he forgot about which was kept in a kitchen cabinet. Apparently, his profession was that of a police officer. But the way he ducked in and out from his own home made it a little awkward, I guess. I knew his family probably wanted to be able to get back home asap. But I guess that's just the process of it everyone has to go through when selling their home. But I felt I was especially being an inconvenience because this particular home wasn't on my radar. The realtor wanted to show it to me. It was way out of my price range.
Getting cold feet is ok. I have a former client-buyer who became a friend eventually. He never bought a house in 2011-12 after seeing 10 of them, getting cold feet 3 times after writing an offer. Now every time he looks at zestimates for these homes he complains that life is unfair. Go figure.
in florida the houses my wife and i could afford was abysmal back in 2022-23 now youre seeing hundreds of houses that are getting better pricewise. A good thing to do is take what year the people bought the property and do a compound interest calculator on their purchasing price to see what roi for the property was (most people consider 4.4 what you get from real estate) and if that number is way over that then the sellers are high off their gourd.
I'm not familiar with the area (or a resident of the United States) but I like your vision. It would be an incredible flip or long-term home. Great house!
@TheRealWayneTurner61 Why did you add a "61" to your name? That's interesting. The video is made by an account with one name, and you have a very similar name but with a change made reflecting the likely reality that it is a different account. Help me to understand Wayne. Why did you add a 61 to your name? Are you "the real" like your name says or is something else happening? This is the internet, and I'm told that there are people who pretend to be other people. Not sure if I've ever seen that myself.
I agree with you 100%, but there is an additional variable, control or power. In any financial transaction, the party that prevails can be determined by power and not just the local market. In my view, in addition to the local market, utilities and a property with "good bones" what is the reason a seller is selling today? If you know the answer to this question, you can buy the house for much less. Who has the power, the seller or the buyer? As a buyer I am always interested in the Five D's of real estate. I never get emotional about any possible future purchase. Most MLS listings state highest and best. My offers are never the highest but always the best for the seller. My last deal was 30% below comps and it was not a fixer or a short sale. I was able to close within two weeks. The only people who got upset were other sellers with a new lower than market sales price which hurt their comps and their potential sales price. All agents also got their money in less than two weeks. In my case, the seller was just laid off and I was able to use a pre-approved conventional loan with a fast close.
Wayne. I currently have 2 houses listed with a realtor for sale plus a 1.5 acre piece of land in a town in Western NC hit HARD by Hurricane Helene. We had plans to sell all and relocate, pay off some debt and start over. Now it looks like we might be stuck here for who knows how long.
@@TheRealWayneTurner . We didn't have much damage and we are very blessed. Many people have lost everything including loved ones. My family just has to weather this market while the area rebuilds. Thank you for your video/s.
@@TheRealWayneTurnera seller can reassign insurance claim to the buyer. Happens a lot when hail storm damages roof and siding right before the closing.. not applicable of course when hurricane affected the whole market.. just 2c from a realtor..
My house tax value is 640 and I bought for 340 in 2017. I am a landlord of commercial buildings in addition to a few other income streams. I bought property cash 2 years ago and am already renting a house next door to the property, and moving out of my existing house. I plan to build another red iron steel building for commercial rents down there as well as building a home, and even potentially a few airbnbs. Should I sell my existing house or rent it? My rental zestimate is 3200 a month but that seems dumb to buy my house at 640 and rent for 3200 a month. It seems rental rates are accurate but price seems high. I also could cash out refinance but 7% seems a bit steep even considering my expectations of ROI on the red iron steel buildings to be 12-15%.
Owned all my life and am 67. I have never seen a more broken home market . Everything is over priced since Covid situation. Federal Reserve Bank broke the market with low mortgage rates. Now they are 7% not 2.75%. Do you think prices should drop off...! Not happening yet. So wait its coming. Once we get back to $100 sq foot for a home we are back on track. So anything over that sq foot price is ridiculous over priced.
Based on the 31% rule...I can afford a 10k house lmao 😂 good score, minimal debt, crappy income but have saved about 20k so far and I still can't buy a house and probably never will be able to 😢 that's reality.
I understand. One idea is to rent cheap as your comfort level will allow, and invest in a few dollars monthly into a business of some sort , or come together with an investment partner you can trust. It could happen for you
@Usboys71 I own a camper, no debt. Have it sitting on private land, just pay electric...can't get any cheaper then that!!! Blessed to have what I have but still aspire to have a small house 1 day 🙏🏼
The 31% rule is based on your monthly gross income and monthly payment. It is not saying that you can only buy a house that is 31% of your gross annual income.
Practikal housplan on videos frontpicture with garage, its exelent for north clima, then car placed connected to home, then security solutions must be higher
I am very appreciative of your content. I moved to an area of Florida because of the housing market almost overnight after covid the market increase by 150-200 thousands, so I didn't get to build my desire home for the expected 274 thousand but ended buying a duplex instead. I really want to invest in real estate, but in my area, the sale price is not in tune with rent. I want to buy land please help
The challenge is that whether you rent or own, there are unavoidable costs associated with maintaining a permanent residence-property taxes, insurance, and utilities like electricity, gas, and water. In places like California, where I currently live, the high cost of living has pushed many people to opt for alternatives. It’s not uncommon to see individuals living in tents to avoid property-related expenses, and the number of people I encounter who reside in their cars is truly surprising. It’s a sign of how extreme the situation has become.
So glad I got a VA loan for my house. According to him, this 250k house payment is around 2100 a month. My house is 460k through VA and only paying 2800 a month, and that's tax and insurance included.
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Consider reallocating from real estate to other reliable investments like stock, crypto or precious metals . Severe recessions offer market buying opportunities with caution, as volatility can yield short-term trading prospects. Not financial advice, but it may be wise to invest, as cash isn't ideal in this period.
I've remained in touch with a financial analyst since the start of my business. Amid today's dynamic market, the key difficulty is pinpointing the right time to buy or sell when dealing with trending stocks - a seemingly simple task but challenging in reality. My portfolio has grown by more than 5 figures within just a year, and i have entrusted my advisor with the task of determining entry and exit points.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with 'Grace Adams Cook' for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I just looked her up on the internet and found her webpage with her credentials. I wrote her an outlining my financial objectives and planned a call with her.
What if you stopped working and then went back to school to finish a bachelor's then started a masters then went back into the workforce. Would this this count as two years. I do have 18 years ofvwork experience in a orofessiinal field, but never boughtva house.
Wayne, I’m a Realtor and I learn things watching your videos. Thank you so much. Please record a video about paying ahead on an amortized loan early on and skipping ahead to paying off more principal and shortening your 360 payments.
Does anyone know of a good home warranty company? We have had American Home Shield for probably 15 years. They used to be good, now they are TERRIBLE. They will not pay for anything, and the contractors they send are the worst. The contractors always find something that isn’t covered with the repair, and they charge you hundreds of dollars extra for it. The contractors damaged our house, and would not pay to repair it. AHS would not repair it either. Plus AHS keeps raising their monthly fee, and the trip charge.
They are all crap now. I'm a plumber and used to hear great things about them 5 years ago. Now, they all weasel out of providing service and are paying vendors so little that the quality of service is terrible if they show up that week. Every service has dropped in quality, and prices are way up. Profit margins are their top priority, so it's bound to happen.
The formula @2:27 isn't making sense to me. The mortgage company is going to loan me 31% of my adjusted gross income for my home? How do I figure that? ((Weekly Income - expenses you listed) * .31) * 52...but the number from this seems like it needs to be multiplied by 8 or something. Then I would come close to the number the credit bureau was going to loan me a few years back. Also, the mortgage rate needs to be in there somewhere I'd imagine.
VA loans are not 0 cash up front. I have bought 4 houses using my VA loan, and had to pay $1600-2000 up front every time. Different realtors, different mortgage holders on each one. Still much better than the other loan types, but not 0.
Wayne, do you think housing prices are much more complex than just rates? The big builders since the 2008 financial crisis not building at capacity, Millennials being an Echo Boom Generation and then also Immigration as a whole?
People need to realize that owning a house is not just owning a house, it's owning the ability to tap that equity later on to buy other properties or improve that property and build value into it. It's an asset. I did not have my home inspected as part of the low price i got. I bought it for 34$ a sq. Ft. I wasn't scared though, since they were living here for 42years and the house is almost 200 years old, plus, I'm handy.
Careful of the Lis Pendes at the closing seems like there's someone in the cape coral area that might be surprising buyers after inspection and then boom
I've had numerous home warranties. You're going to have to fight for every bit of that service and they'll try and wait you out. They'll stall to try and make you cave and take a cheaper resolution or just replace it yourself.
Wish there was a house like that in my area; that is really nice. Except Where I live.The price is more likely to be in the mid sevenths if not higher.
I live in Central LA and we have new construction 3bed 2bath for $215k 1500 sq.ft. on 1/3 acre in the country and all upgrades included, lvp flooring, quartz counter tops, under mount on all sinks, pantry, laundry room, 2 car enclosed garage and more. I'm definitely looking into this builder. I'm debt free with a 760 score. Looking to buy in 2025.
Every surface in that house that could be painted is one color and one color only, white. I like white but I don't want 100% of everything that could possibly be white to be white. It's just way too much. I know if you're going to sell the house, the new owner will paint some colors but a renter will be forced to put up with all of that white. To top it off, every time he comes into contact with something that wasn't painted pure White, because it's a tub surround or something, he talks about what to do if you don't like the color.
Home prices will no drop, however market will correct. Everything is orchestrated in a way that wealthier people always has a advantage. Interest rates are plunging starting a force hyper-inflation, house prices are not going up immediately most of them will never will because they are already too high,
Postive cashflow is one of the secrets of the rich... and if you own the politicians and can write the laws... well you can buy an asset that depreciates in value while someone else pays the mortage and you get positive cash flow every month... Whats not to love. Criminals all. 😂❤
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family...
I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second daughter. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks.
@@ЕленаФирсова-ц6м Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. *MARGARET MOLLI ALVEY* ..
Same here . I’m looking in Louisiana and Henderson Nevada . California is too violent and filthy. I’m considering Louisiana, hopefully cash out and get more for my money
@@Usboys71 That's the right move, get out and buy where the prices are much lower but make sure you balance job and housing market in your new area. Very low hosing market with no jobs doesn't work.
My issue would be is when I decide to retire, I assume a lender will now base my income off of my pension only. Additionally, I would like to move back to my home state. Almost feel like I'm gonna have to work another 7 years to collect my Social Security to increase my income.
Fantastic video🔥🔥! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong??
Trading on a demo account can definitely feel similar to the real market, but there are some differences. It's important to remember that trading involves risks and it's normal to face looses sometimes. One piece of advice is to start small and gradually increase your investments as you gain more experience and confidence. It might also be helpful to seek guidance from experienced traders or do some research on different trading strategies.
If you are trading without a professional guide... Ah, I laugh, because you will stay where you are or even suffer huge losses that will prevent you from trading, this has been one of the biggest problems for new traders.
Hey Wayne, I know your busy with these videos but just thinking, can we hire you for your time, looking at purchasing a ranch style home/property in the country? thanks Wayne
The problem is the lack of long term stable employment. Good luck for finance in this gig economy. You must have a lobotomy to not connect one market with another market.
The average price of homes vs average income, at least by state, which is affordability, is at an all time low. How can a market function (supply/demand) when the government is pushing so much money into the economy? So, the market is not functioning properly. We have not seen organic Price Discovery since the Covid Absurdity began because of the Moral Hazard expressed by the Federal Government spending at war time levels. So, when will Price Discovery begin to work again? When the government quits debt spending at the current level. Until then...housing affordability get worse or stay as bad.
It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
I recently sold my home in the Boca Grande area and am considering investing a lump sum into the stock market before the anticipated rebound, couple of folks have been discussing a potential May rally, speculating on which stocks may experience substantial growth during the festive season. Do you have any insight into which stocks these might be?
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
@@Tonyrobs2 Mind if I ask you recommend this particular professional you use their service? i have quite a lot of marketing problems.
My CFA ’’ Sharon Ann Meny, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
We purchased a home in Hockley,Texas in 2021. The two real estate agents got together and called their home inspector. He let a lot of very bad things pass. We had to completely rebuild an outer wall because it was eaten by carpenter ants. The list goes on and on…. So don’t let either real estate agent recommend an inspector.
doesn't A.J. FOYT'S kid live in Hockley?
This is precisely why agents around here (I'm near you) should be strongly suggesting a WDI (wood-destroying insect) inspection with every regular inspection. Personally, I'd never buy a house in the Houston area without one.
@@healthyone100and Hennessy is out past Katy
I had the same experience. Mine was basement flooding, 5 layers on the roof and old wiring in the walls. Though the wires coming from the breaker box were new spliced in. Then the inspector died. No recourse. And the realtor was a supposed friend.
Unless the use #CyPorter 😂 #CyPy
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
consider moving your money from the housing market to financial markets or gold due to high mortgage rates and tough guidelines. Home prices may need to drop significantly before things stabilize. Seeking advice from a financial advisor who understands the market could be helpful in making the right decisions.
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
I just built a 2000 sq ft building with 2 private bathrooms, small 6 unit laundromat, and hang out area of 24x30 with a pool table. My cost was $110,000.00. i already owned the land. I did my own concrete forms/plumbing, siding, trim work,flooring, painting and security system. I hired the cement finishers, framers, roofers and insulation. Save your money and build it yourself. Im building my son a house next year, he's saved his money and were building a 1200 square ft home tgat he can add a 3rd bedroom, garage, bathroom onto later. Yall need to avoid all that debt
Issue is land is really expensive. Concrete is double.
How long did it take to build the house in your spare time ?
@sarahann530 about 6 months maybe less
@makethingshappen8427 i paid 170 a yard. We got a deal because I buy a lot of concrete and this project (for an rv park) was less than 2 miles from the concrete plant
@@imout671 So you built a house by yourself in 6 months during nights and weekends ,impressive
*Every family has a person who breaks the chian of poverty in their house I pray you become that one and be a successful in life 🙏*
I'm 38 and have been looking for ways to be successful, please how??
Every one of my prayer requests is about to manifest in the Name of Jesus I receive and connect with this message in Jesus' Mighty Name Amen 🔥🙏
I have been searching for ways to achieve success. Can you please guide me on how to do so?
Sure, the investment-advisor that guides me is...
Kiana Daniel
Now that corporations are buying homes, they will make sure prices never drop. Of course, there will always be some regional adjustments based on local economics.
People worry about corporations buying 10,000 homes, but give no consideration to 10 million illegal aliens crossing the border needing housing. That’s 100x more people than corporations buying homes
Good reason to vote for legislation/legislators who want to ban corporate single family home ownership.
Exactly. We are in territory we’ve never seen before where private residential homes are now vastly owned by major corporations thus it’s the first time the housing market has been susceptible to massive corporate manipulation on this scale. They can basically do whatever they want to house prices now.
@@mrbrian87 vastly owned? 10,000 homes is hardly vastly owned. Please educate yourself
@@onlycreamofthecrop WTH are you talking about? Estimates in 2022 were that 450,000 to 575,000 single family homes were owned by about 32 investment companies. It’s only gone up since then.
I'm favoured, $22K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America.
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
No you don't
@@PondeyPranali how old are you? it matters.
I would like this can I send you my bank information and other vital info so you can help me? I feel so blessed I came across this . GOD BLESS 🇺🇸
Tell her I referred you🙏🙏
Wayne, I think your spot on about home prices when you’re speaking of individuals buying homes for families buy homes. The one thing that you’re not taking into consideration is when investment groups like Blackrock come in and start buying thousands of homes. When this happens the principle of supply and demand Gets taken to a place where individuals can’t go. Unless and until something is down about that I don’t think you’re gonna see any significant dropping home prices.
Right. But we are seeing large investors leave the market (not Blackrock size yet) This is the start of a new market, price reductions every where in the country, homes sitting on market over 30 days, this is the start of the down turn. Give it another 6 months to see much more down turn.
Bingo
Don't forget the millions of aliens that have entered your country.
@@LT-em1vu Because large investors are not dumb. You don't buy at the top of the bubble.
How many homes do they actually own? I've read less than 1%
IMO it’s difficult to set down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
A lot of folks have been going on about the bull rally and said stocks that would be experiencing significant growth, any idea which stocks this may be? I just sold my home in the BAY county area and I’m looking to remunerate a lump sum into the stock market before stocks rebound, is this a good time to buy or no?
It's gotten especially difficult since the pandemic, hence why I decided to use the expertise of an advisor, my spouse kicked against the idea initially, but oh well guess who's best buddies with our advisor now.
Mind if I ask you to recommend this particular Advisor you using their service? Seems you've figured it all out.
Finding financial advisors like ‘Grace Adams Cook’ who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Prices will drop when taxes and insurance consume any profit from all of those investment vehicles.
@@jnucleo My wife is a real estate broker in Florida. She will tell you there is zero ROI in investment real estate
@ until everybody moves out like in NY, NJ and CA.
Man i hope people leave CA... its too crowded here.... but I think prices drop when everyone is all in Long. Which I think we are very close to being. No more buyers... the markets crash. ❤
The market is ridiculously inflated by all the government incentives and giveaways to encourage people to buy housing. This is wrong. The government should stay totally out of the market place
80% of total USDs in circulation have been "created" since 2020. This inflation will not allow for prices to drop anytime soon, unfortunately
Ever since real estate market became financialized decades ago, prices were no longer tethered to inflation. The proof is in the pudding: prices have exponentially risen faster than inflation has in the last 15 years. The RE market has become dependent on a mountain of debt to push prices up. Today, transactions are stagnant because credit is frozen and general incomes are not high enough to make up the difference. Sales leads prices.
Consumerism is the cause for inflation...nothing more. Consumers are still willing to pay, regardless of price.
The fed balance sheet is smaller today than it was when Biden took office. We have had nearly 3 years of deflation at the FED level.
The only main cause of inflation is consumerism.
It's all good, until it isn't. Just ask folks who bought houses in 2005, 2006, and 2007... they got wiped out.
Why is that ladder leaning on nothing in the backyard? How is that happening? That's matrix stuff! 13:44
I'm 35, live and work in California and have almost saved enough for a down payment on a decent house here. I'm second-guessing my decision because home prices are higher than I budgeted, and there are rumours about a potential market crash. Am I better off putting my spare cash in stocks and waiting for home prices to drop, or should I go ahead and buy a home now?
Stocks can offer way higher returns in the short term, but it's also more volatile. If you feel confident in your ability to navigate the stock market then it might be a better option
Two years ago, I was in a similar situation and ultimately decided against buying a home since I was comfortable in my rented apartment... That turned out to be a great choice because now, I make close to 15 grand a month from it! If you have the time, I recommend making a thorough research on how to go about this process safely... Alternatively, consider working with an expert, like I eventually did, to help avoid costly mistakes, especially in the early stages... Good luck...
@@devereauxjnr been considering going into this for sometime now. heard its a nice way to make some extra funds. how do you get a competent expert and how expensive are they
devereauxjnr small world. met this lady at our country club weeks ago. had to go to her page to confirm that i wasn't mistaken. really small world
Only invest in stocks if you're ok with losing it all.
I've bought my house in 2017 and this man knows exactly what he is talking about. I got a va loan with zero money down.
@@BradGreen-p7q I think those are assignable, no?
@RootBeerGMT my realtor told me every first time home buyer can be approved for a vs loan no matter if you served or not. Banks and other greedy ppl will tell you this is a lie to get money off your down payment
Just for clarity as a lot of terms get thrown around. Affordable housing is a term that refers to housing that is affordable for households of various income levels. The term is generally defined as housing where the occupant pays no more than 30% of their gross income for housing costs, including utilities. Back in the early 2000s lenders and investment banking seized on opportunities to extend peoples perceived ability to buy real estate they otherwise could not afford. This was done though "special loan packages" that include progressive variable rates, no money down, etc. Today the median home equals +40% of gross income which is significantly above the excepted affordability threshold. We are definitely in a consumption economy and unfortunately it will not end well for many who truly should take refocus on living within their means.
Indeed! When everyone is acting irresponsibly that doesn't mean it's okay to act similarly. You will simply suffer the same fate as they do, however, I am left wondering how this all plays out. When enough people think they're right and demand action ... things can happen and the market can move only worsening the situation for the reasonable and thoughtful.
In the land of the blind, the one-eyed man is NOT king.
He is slaughtered for seeing what others cannot.
People don't like seeing others succeed when they're hurting.
I appreciate your time. Very impeccable with your explanation of home buying. Thank you so much!
What about taxes going up every year? This makes it very difficult for home owners to keep their homes.
It all goes to the local police and local School employees and municipal workers the last who at least do something productive
@@dampergoldenrod4156are you sure about that?
Agreed. One issue is “the people” are too weak and scared to ask for well deserved raises. People need to band together gain negotiating power and make it fair again. I’m usually against unions as they are often corrupt and stop making their members #1, and they can halt economic growth, but it seems like they are drastically needed again.
@@mrbrian87Are employers corrupt?
@@sarahann530 many are. Many are not. Any company worth over 50M there is absolutely corruption happening with one or multiple executives/owners.
Excellent video.
However, I would like to point out that from an architectural standpoint, a 1/2 bath contains only a sink & toilet, a full bath contains a sink, toilet & combination tub/shower or separate tub & walk-in shower. The bathroom noted near the end of the video, which includes a sink, toilet & walk in shower is a 3/4 bath.
It's possible that this is perceived differently in other parts of the country, but in the Northeast, people take their bathroom distinctions very seriously, especially regarding home sales.
"only the market knows" - yep, that's really the only correct answer. We can all speculate on where the market is going. We are definitely at record levels of unaffordability. Historically, it's corrected, but nothing is guaranteed. Another round of fast inflation could keep things relatively unaffordable indefinitely.
This is the type of guy to put 1 minutes of info in a 20 minute video
Real estate is largely hyper-local when it comes to price, supply and demand.
I agree everybody discussing real estate but don't specify location,there is huge difference depending where
This is true but you can also spot generally trend that extend across markets and one market can give you informed insight on what another market might do. So it's not a blind guess. Right now most markets are starting to soften a little bit. Average days a house is on the market is increasing in most places. So we can infer from this it is likely house prices will not increase at the same rate they have been. But a drop in prices in any market takes lot thats very different. So while I don't disagree with any of this. It's like guess at a 4 question multiple choice question we know 2 of the possible answers are not right.
@@tylerproctor4878 Well said. You saved me a lot of typing. Anyone who says "All Real Estate is local" and stops there, is either a Realtor or someone of very limited intelligence. At the very least we should say all Real Estate is local...until it isn't. Although it's far more nuanced than that as well.
@CaptainCaveman1170 thank you my friend. I wrote it quickly. Looks like I made some grammatical errors, but I'm glad to hear that you understood and like what I said.
There are some parts of the market that are getting destroyed already... TX and FL come to mine... but that is not going to stay contained.... we will have an epic.. make the GFC and Dot Com crash look mild event. I hope folks are not counting on their house to be a piggy bank... it have never been looked at that way. It should be looked at ... as pay it off as fast as you can... liability not an asset. American's got it wrong. ❤
Listen to Wayne, TONS of home buyer tips and Know-how on his videos.
Owner builder & semi-rural is the way to go anymore ( Think the USDA route).
Yo can build a single story 9 ft ceiling ranch style home ( 32x48 ) with a 2 car garage porch on a concrete slab for about 130K
including the price of one acre of land.
If you add a 3 ft crawl space to keep it from flooding add another 7K for the cinder-blocks and labor.
If you want brick siding, add another 10K
Once you title that house in your county, it is worth at least 160K ( Basic, no brick and no crawl-space ).
At that point not only you are in equity position from day one, but you also step into a brand new house designed to your liking,
and built with better materials...🥂
Love your "to the point" style videos. Thanks Wayne!
@@frankenz66 ty
@7:54, I believe with a VA loan an inspection is required.
i just found your channel, i’m a vet from the achaffalaya area of LA that moved to the houston area about 5-6years ago. i really appreciate all the knowledge you drop! thanks brudduh!
Love your videos! They are priceless and succinct! Please do a video on what it takes for a person on disability to purchase a home. (NOT a veteran) Thank you!!
Shower , plus sink, and toilet is considered a 3/4 bath.
You failed to mention the effect private equity is having on residential real estate prices, Wayne. I remember the early 80s when real estate was DOWN all over the US except in ONE market. HAWAII. Japanese investment, fueled by a strong Yen, ended up in Hawaii and exploded the cost of housing. By 1990 the ride was over for Japan, a huge bubble had been created and they couldn't give away the property they had overpaid for. Fast forward to today and you have a similar situation where private equity is driving up the cost of real estate by overpaying. Now, the motives between the Japanese investors in Hawaii were different than that of private equity, but the result is the same. Prices won't go down until private equity has had their run. There will be a bubble and private equity will get out of the market once they've taken their profits. Then perhaps housing prices will go back to normal.
I have been thinking about this myself.
Blackrock
Overpaying? Based on what criteria?
In general, Black Rock is an evil entity. That being said, people complain about Black Rock buying 10,000 homes, but the give little consideration to 100x 10 million illegals crossing the border that need housing.
Markets want to reach equilibrium state in free market economies, look at what the government is doing to prevent this equilibrium state
Once housing starts to drop (and it will) those companies and private equity are going to be selling at losses. They have trigger points. The boomers that joined in on all the fun are just going to add to the epic crash this coming. That is not going to stay in the housing market it is going to be an all market crash. I am not even sure which market pops first ... it doesn't matter... that one that does pop, pops the other ones. I am ready. ❤
Whoever your Barber is, I hope you tip him well he's amazing.
In the 80s, my dad said his interest rate was 17% but the house was almost half of the value. It was a few years previous they collapse.
Very informative and broken down in basic English. Thank you
You are welcome!
Things are getting worse! Low-paying jobs, inflation, and insane rental rates prevent many from saving. Home ownership, a traditional retirement asset, is now out of reach for middle-class Americans.
I'm 62, and rising prices have derailed my retirement plans . I worry that today's economic conditions are more challenging than ever. The stock market's unpredictability, coupled with reduced income and soaring inflation, makes me anxious about having enough for retirement.
I've found working with a fiduciary advisor has been invaluable in navigating market uncertainty. Their expertise in risk management and hedging has helped me grow my retirement savings significantly to almost a million. With their guide, I've learned to diversify effectively, manage risk, adapt to changing market conditions. Their strategic approach has given me peace of mind and improved my financial outlook.
Can i get a recommendation on who you are working with?
Melissa Terri Swayne is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Wow, her track record looks really good from what I found online.i just messaged her, let's see how it goes. Thanks for the info
You are a wonderful asset to buyers and sellers! Great information.
What is the general rule of thumb or perhaps realtor policy when it comes to how much time you can spend in a home you're interested in buying? Because a lot of times you're whisked around on a 10 minute tour, shake hands of it and let them know in a few days. Now I don't know about most folks, but I need more time with the place to see if it grows on me or not.
I almost closed on a home about 12 years ago. The owners had accepted my offer and the realtor was setting me up to finalize the paper work. Maybe it was cold feet but something was bugging me. I felt rushed through it. So I asked if I could go back to the house one more time and spend some more time looking around. They let me. And when it was just me and I had the peace of mind to sit in the space for a good 20 minutes or so, I just started to not like it. It felt uncomfortable. I recalled that during the first showing, we all hung out in the kitchen most of the time. And for good reason. The family room was depressingly small and galley shaped with a fireplace that took up like the whole room. I went back to the kitchen and noticed that without "Stuff" in it, the cabinetry really looked like it was falling apart. The longer I spent time in there, I liked it less and less and less.
So I went back to the realtor's office and she was excited with the paper work all out and ready to go. I said, "You're not gonna be happy with me but this is an insane sized purchase to make. I've spent more consideration time on a mattress than I have this house. After a rewalk and some thinking I'd like to withdraw.
Thankfully I wasn't charged a deposit or anything. I think they had two other parties interested in it which may have helped. But it got me thinking.... Am I the only one that feels like you should get to spend like a good day in a home you're seriously considering to purchase? Or are most people fine with just a once zip through impression and that's more than enough to make you sleep easy at night feeling good about your choice?
Agreed. I did the same but didn’t have the ability to get out. But God helped me to make the repairs and is faithfully working with me. However I learned my lesson.
Always take as much time as you need if you think it’s the house for you. Trust me the seller does not mind. They want you to buy their house.
@@TheRealWayneTurner Thank you for taking the time to read and respond to my question. Your knowledge and videos of this industry is amazing.
I had a house showing where the homeowner came back because he had left a handgun he forgot about which was kept in a kitchen cabinet. Apparently, his profession was that of a police officer. But the way he ducked in and out from his own home made it a little awkward, I guess. I knew his family probably wanted to be able to get back home asap.
But I guess that's just the process of it everyone has to go through when selling their home. But I felt I was especially being an inconvenience because this particular home wasn't on my radar. The realtor wanted to show it to me. It was way out of my price range.
Getting cold feet is ok. I have a former client-buyer who became a friend eventually. He never bought a house in 2011-12 after seeing 10 of them, getting cold feet 3 times after writing an offer. Now every time he looks at zestimates for these homes he complains that life is unfair. Go figure.
Thanks Wayne for the valuable info and walk through..
in florida the houses my wife and i could afford was abysmal back in 2022-23 now youre seeing hundreds of houses that are getting better pricewise. A good thing to do is take what year the people bought the property and do a compound interest calculator on their purchasing price to see what roi for the property was (most people consider 4.4 what you get from real estate) and if that number is way over that then the sellers are high off their gourd.
Good home to add a detached shop and nice patio area with a outdoor kitchen, it could be a flip house.
I'm not familiar with the area (or a resident of the United States) but I like your vision. It would be an incredible flip or long-term home. Great house!
@TheRealWayneTurner61 Why did you add a "61" to your name? That's interesting. The video is made by an account with one name, and you have a very similar name but with a change made reflecting the likely reality that it is a different account. Help me to understand Wayne. Why did you add a 61 to your name? Are you "the real" like your name says or is something else happening? This is the internet, and I'm told that there are people who pretend to be other people. Not sure if I've ever seen that myself.
I agree with you 100%, but there is an additional variable, control or power. In any financial transaction, the party that prevails can be determined by power and not just the local market. In my view, in addition to the local market, utilities and a property with "good bones" what is the reason a seller is selling today? If you know the answer to this question, you can buy the house for much less. Who has the power, the seller or the buyer? As a buyer I am always interested in the Five D's of real estate. I never get emotional about any possible future purchase. Most MLS listings state highest and best. My offers are never the highest but always the best for the seller. My last deal was 30% below comps and it was not a fixer or a short sale. I was able to close within two weeks. The only people who got upset were other sellers with a new lower than market sales price which hurt their comps and their potential sales price. All agents also got their money in less than two weeks. In my case, the seller was just laid off and I was able to use a pre-approved conventional loan with a fast close.
Wayne. I currently have 2 houses listed with a realtor for sale plus a 1.5 acre piece of land in a town in Western NC hit HARD by Hurricane Helene. We had plans to sell all and relocate, pay off some debt and start over. Now it looks like we might be stuck here for who knows how long.
@@johnlimongello5716 I’m sure you can rebuild and sell. Hope everyone is safe and doing well. God bless you folks.
@@TheRealWayneTurner . We didn't have much damage and we are very blessed. Many people have lost everything including loved ones. My family just has to weather this market while the area rebuilds. Thank you for your video/s.
@@TheRealWayneTurnera seller can reassign insurance claim to the buyer. Happens a lot when hail storm damages roof and siding right before the closing.. not applicable of course when hurricane affected the whole market.. just 2c from a realtor..
My house tax value is 640 and I bought for 340 in 2017. I am a landlord of commercial buildings in addition to a few other income streams. I bought property cash 2 years ago and am already renting a house next door to the property, and moving out of my existing house. I plan to build another red iron steel building for commercial rents down there as well as building a home, and even potentially a few airbnbs. Should I sell my existing house or rent it? My rental zestimate is 3200 a month but that seems dumb to buy my house at 640 and rent for 3200 a month. It seems rental rates are accurate but price seems high. I also could cash out refinance but 7% seems a bit steep even considering my expectations of ROI on the red iron steel buildings to be 12-15%.
What policies do you recommend for home owners warrant to cover plumbing electric etc
Owned all my life and am 67. I have never seen a more broken home market . Everything is over priced since Covid situation. Federal Reserve Bank broke the market with low mortgage rates. Now they are 7% not 2.75%. Do you think prices should drop off...! Not happening yet. So wait its coming. Once we get back to $100 sq foot for a home we are back on track. So anything over that sq foot price is ridiculous over priced.
Will you sell me your house for 100 bucks a sq ft ?
The value of a house only matters to who bought it. Folks have been paying $500k for dumps in my area since 2019. New homes start at $1.2M. 👀
That's crazy!
Based on the 31% rule...I can afford a 10k house lmao 😂 good score, minimal debt, crappy income but have saved about 20k so far and I still can't buy a house and probably never will be able to 😢 that's reality.
I understand. One idea is to rent cheap as your comfort level will allow, and invest in a few dollars monthly into a business of some sort , or come together with an investment partner you can trust. It could happen for you
@Usboys71 I own a camper, no debt. Have it sitting on private land, just pay electric...can't get any cheaper then that!!! Blessed to have what I have but still aspire to have a small house 1 day 🙏🏼
That rule always scared me ive always gone waaaay below that %
The 31% rule is based on your monthly gross income and monthly payment. It is not saying that you can only buy a house that is 31% of your gross annual income.
@@w12p67 no shit but i dont reccomend going that high to each thheir own
Practikal housplan on videos frontpicture with garage, its exelent for north clima, then car placed connected to home, then security solutions must be higher
100% agree. They'll cut in half
hey Wayne what you think about the a old house with septic system and oil heating and private well
Get it inspected
Which State are you in?
Thank you.
GOD BLESS YOU
Why does anyone think house prices will fall when inflation has not stopped?
Inflation causes forclosure
We’re actually see prices come down in many markets.
Because people can't afford to buy them, even with good to great employment.
@@Ttow49
Supply and demand. If people aren't buying because rates/price are high then they sit and prices fall
I am very appreciative of your content. I moved to an area of Florida because of the housing market almost overnight after covid the market increase by 150-200 thousands, so I didn't get to build my desire home for the expected 274 thousand but ended buying a duplex instead. I really want to invest in real estate, but in my area, the sale price is not in tune with rent. I want to buy land please help
You gave great ideas in this video - thank you!
Very welcome.
Is a storm repaired house worth what they’re asking & how does potential buyer know repairs were properly performed??
Hello Wayne,
I just came across your channel, and I really appreciate your content!
I may have missed it, but where is this home located?
Thanks Wayne…so useful and informative as usual!!!
Very welcome
The challenge is that whether you rent or own, there are unavoidable costs associated with maintaining a permanent residence-property taxes, insurance, and utilities like electricity, gas, and water. In places like California, where I currently live, the high cost of living has pushed many people to opt for alternatives. It’s not uncommon to see individuals living in tents to avoid property-related expenses, and the number of people I encounter who reside in their cars is truly surprising. It’s a sign of how extreme the situation has become.
Awesome video. I even learned something and I've bought 6 homes. Thanks!
So glad I got a VA loan for my house. According to him, this 250k house payment is around 2100 a month. My house is 460k through VA and only paying 2800 a month, and that's tax and insurance included.
When did u get your home? And thats probably right….a 300,000$ home is at 2,000 a month.
@bkandy7165 bought the house 2022, yea at the peak.
VA loans are the biggest welfare giveaway in the US.
Great video! Very useful information.
Soon to be, first time home buyer. 🎉🎉
Are those just needed improvements? Or do those mortgage products include custom improvements?
John Wayne little brother 🤙
Another very informative video Wayne. Much obliged. One question: do USDA loans require PMI? Thanks in advance sir.
@@SonistheFatherofMan yes you must pay PMI however it is a little cheaper.
@@TheRealWayneTurner Thanks!
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Consider reallocating from real estate to other reliable investments like stock, crypto or precious metals . Severe recessions offer market buying opportunities with caution, as volatility can yield short-term trading prospects. Not financial advice, but it may be wise to invest, as cash isn't ideal in this period.
I've remained in touch with a financial analyst since the start of my business. Amid today's dynamic market, the key difficulty is pinpointing the right time to buy or sell when dealing with trending stocks - a seemingly simple task but challenging in reality. My portfolio has grown by more than 5 figures within just a year, and i have entrusted my advisor with the task of determining entry and exit points.
nice! once you hit a big milestone, the next comes easier.. who is your advisor please, if you don't mind me asking?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with 'Grace Adams Cook' for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I just looked her up on the internet and found her webpage with her credentials. I wrote her an outlining my financial objectives and planned a call with her.
*won't*
What if you stopped working and then went back to school to finish a bachelor's then started a masters then went back into the workforce. Would this this count as two years. I do have 18 years ofvwork experience in a orofessiinal field, but never boughtva house.
Yes, that will work. Shoot me your info. I’ll get you approved. WayneTurner.com
Wayne, I’m a Realtor and I learn things watching your videos. Thank you so much. Please record a video about paying ahead on an amortized loan early on and skipping ahead to paying off more principal and shortening your 360 payments.
Will do
Does anyone know of a good home warranty company? We have had American Home Shield for probably 15 years. They used to be good, now they are TERRIBLE. They will not pay for anything, and the contractors they send are the worst. The contractors always find something that isn’t covered with the repair, and they charge you hundreds of dollars extra for it. The contractors damaged our house, and would not pay to repair it. AHS would not repair it either. Plus AHS keeps raising their monthly fee, and the trip charge.
They are all crap now. I'm a plumber and used to hear great things about them 5 years ago. Now, they all weasel out of providing service and are paying vendors so little that the quality of service is terrible if they show up that week. Every service has dropped in quality, and prices are way up. Profit margins are their top priority, so it's bound to happen.
@@extendedp1 I’ve personally found Old Republic to be good.
@ thanks
The formula @2:27 isn't making sense to me. The mortgage company is going to loan me 31% of my adjusted gross income for my home? How do I figure that? ((Weekly Income - expenses you listed) * .31) * 52...but the number from this seems like it needs to be multiplied by 8 or something. Then I would come close to the number the credit bureau was going to loan me a few years back. Also, the mortgage rate needs to be in there somewhere I'd imagine.
They are going to look at the payment. They know it's you can't make the payment you default
Do you have a video on how you can buy a house and then sell your house an put a real good equity down payment to get a lower payment?
I actually don’t but I will do one. Great question. Shoot me your info. I’ll show you. WayneTurner.com
Well did you notice that ladder leaning against nothing 13:40
Clothes lines maybe
Yea, kinda strange
Hello Wayne. Do you have a video on the subject of building a custom home? It's such a mine field of a subject.
Here’s my playlist of several. th-cam.com/play/PLyolCz-FptmJ9QxuPUlvmYhLWwcu2OaKA.html&si=fLdngAVLbXQyhZdO
@TheRealWayneTurner a gold mine of experience and knowledge
VA loans are not 0 cash up front. I have bought 4 houses using my VA loan, and had to pay $1600-2000 up front every time. Different realtors, different mortgage holders on each one. Still much better than the other loan types, but not 0.
You didn’t have to.
Wayne, do you think housing prices are much more complex than just rates? The big builders since the 2008 financial crisis not building at capacity, Millennials being an Echo Boom Generation and then also Immigration as a whole?
Excellent video! Thank you!
You’re welcome.
People need to realize that owning a house is not just owning a house, it's owning the ability to tap that equity later on to buy other properties or improve that property and build value into it. It's an asset. I did not have my home inspected as part of the low price i got. I bought it for 34$ a sq. Ft. I wasn't scared though, since they were living here for 42years and the house is almost 200 years old, plus, I'm handy.
My house has liens on it and South Dakota says no you can't sell it to anyone but a cash buyer no financing here will touch it...major bummer.
Hello Wayne, I have looking at houses on online. What I can afford has tub/shower. About how much cost to convert to a walk in shower?
Careful of the Lis Pendes at the closing seems like there's someone in the cape coral area that might be surprising buyers after inspection and then boom
I've had numerous home warranties. You're going to have to fight for every bit of that service and they'll try and wait you out. They'll stall to try and make you cave and take a cheaper resolution or just replace it yourself.
Wish there was a house like that in my area; that is really nice. Except Where I live.The price is more likely to be in the mid sevenths if not higher.
I live in Central LA and we have new construction 3bed 2bath for $215k 1500 sq.ft. on 1/3 acre in the country and all upgrades included, lvp flooring, quartz counter tops, under mount on all sinks, pantry, laundry room, 2 car enclosed garage and more. I'm definitely looking into this builder. I'm debt free with a 760 score. Looking to buy in 2025.
Every surface in that house that could be painted is one color and one color only, white. I like white but I don't want 100% of everything that could possibly be white to be white. It's just way too much. I know if you're going to sell the house, the new owner will paint some colors but a renter will be forced to put up with all of that white.
To top it off, every time he comes into contact with something that wasn't painted pure White, because it's a tub surround or something, he talks about what to do if you don't like the color.
He is right
Wayne, once you get the loan pre-approval letter, how long is that pre-approval good for in order to start shopping houses?
30 days but your lender can update it if necessary. Just don’t put anything on credit after you’re approved
Wayne is on point.
His real name might be Bruce Wayne. Lol😅 Out here saving all of us
Thank you, Mr. Turner. I have a quick question: do we conduct the inspection or the appraisal first?
Inspection first and if anything big shows up demand it fix not credit at closing. Be smart
Maybe in smaller cities but in the bigger cities the Assesments stay either the same or increase as city gov is addicted to the tax revenue
Home prices will no drop, however market will correct. Everything is orchestrated in a way that wealthier people always has a advantage. Interest rates are plunging starting a force hyper-inflation, house prices are not going up immediately most of them will never will because they are already too high,
So in your opinion what are the wealthy doing right now?
Thank you good brother
That flooring is acrually LVP vinyl plank. Not LVT.
Thank you for the information!
As long as mega corporations and Private Equity are allowed to "invest" in single familt housing, the prices will never drop
Postive cashflow is one of the secrets of the rich... and if you own the politicians and can write the laws... well you can buy an asset that depreciates in value while someone else pays the mortage and you get positive cash flow every month... Whats not to love. Criminals all. 😂❤
I got a usda loan on a townhouse in 2020 lol... back then it was country but the development is now 4k homes
@@DSNCB919 There is a huge demand.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family...
I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second daughter. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks.
@@ЕленаФирсова-ц6м Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. *MARGARET MOLLI ALVEY* ..
@@YinusaSaheed Oh please I’d love that. Thanks!
*MARGARET MOLLI ALVEY*
Lookup with her name on the webpage.
The prices of homes are so high right now. I live in California and I pray it goes down so that me and my family can purchase one.
Same here . I’m looking in Louisiana and Henderson Nevada . California is too violent and filthy. I’m considering Louisiana, hopefully cash out and get more for my money
Louisiana I've heard, flooding zone, insurance high. GOD BLESS YOU@@Usboys71
@@Usboys71 That's the right move, get out and buy where the prices are much lower but make sure you balance job and housing market in your new area. Very low hosing market with no jobs doesn't work.
You are the best Sir...🙏
Thank you
My issue would be is when I decide to retire, I assume a lender will now base my income off of my pension only. Additionally, I would like to move back to my home state. Almost feel like I'm gonna have to work another 7 years to collect my Social Security to increase my income.
Fantastic video🔥🔥! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong??
Trading on a demo account can definitely feel similar to the real market, but there are some differences. It's important to remember that trading involves risks and it's normal to face looses sometimes. One piece of advice is to start small and gradually increase your investments as you gain more experience and confidence. It might also be helpful to seek guidance from experienced traders or do some research on different trading strategies.
If you are trading without a professional guide... Ah, I laugh, because you will stay where you are or even suffer huge losses that will prevent you from trading, this has been one of the biggest problems for new traders.
I think l'm blessed if not I have met someone who is as spectacular as expert mrs Janet..
Highly recommended🙌
Wow, I'm surprised to see Janet mentioned here as well. I didn't know she had been kind to so many people
I'm also a huge beneficiary of her..
I thought myself and my family were
the only ones enjoying Janet
trade benefits...
Hey Wayne, I know your busy with these videos but just thinking, can we hire you for your time, looking at purchasing a ranch style home/property in the country? thanks Wayne
Yes. Shoot me your information WayneTurner.com click buying.
The problem is the lack of long term stable employment. Good luck for finance in this gig economy. You must have a lobotomy to not connect one market with another market.
The average price of homes vs average income, at least by state, which is affordability, is at an all time low. How can a market function (supply/demand) when the government is pushing so much money into the economy? So, the market is not functioning properly. We have not seen organic Price Discovery since the Covid Absurdity began because of the Moral Hazard expressed by the Federal Government spending at war time levels.
So, when will Price Discovery begin to work again? When the government quits debt spending at the current level. Until then...housing affordability get worse or stay as bad.