ZILLOW: New Home MELTDOWN | Nationwide Price Decline
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- เผยแพร่เมื่อ 3 ต.ค. 2024
- ZILLOW: New Home MELTDOWN | Nationwide Price Decline
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LAST VIDEO! New Studio is now up and my procedure went well!!!
I watch alot of TH-camrs but I honestly appreciate channels like yours that are here day in and day out for the normal person
Happy 4th Travis to you and your family. You're in my prayers.
That's great news. God Bless You
The internet achieve "Wayback Machine" save snapshots of many websites routinely, including FRED economic data (data table only). I use it to compare the data before and after revision.
Awesome news! Thank you for the health and move updates. Great video. Appreciate you. 🙏🫂❤️🤍💙🇺🇲
I plan to retire at 62 in another country outside the US that is free, safe and very cheap with a high quality of life. I could fully just rely on only my SS if I wanted to when that times arrives but I'll also have at least one pension, a 403 (b) and a very prolific lnvestment account with my Abby Joseph Cohen my FA. Retiring comfortably in the US these days is almost impossible.
I know this FA, Abby Joseph Cohen Services but only by her reputation of being a former employee at Goldman Sachs; even though she's now involved in managing portfolios and providing investmnt guidance to clients. I have been trying to get in contact since I watched her interview on WSJ last month
@@PoshanMind
Well her name is 'ABBY JOSEPH COHEN SERVICES'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
I'm headed to Thailand or the Philippines in 4 years. What country you moving too?
@@MerissabadeI have a sister in Sri Lanka, should be easy for me to settle in
North San Antonio - Pulte homes - house listed on 6/21/24 $469,190 changed on 6/22/24 $470,190 changed again days after on 6/26/24 to $495,570!. Why is nobody calling out these builders? Why are Americans accepting this? I don't get it
Hello Travis! Thank you for your honesty and integrity. My wife and I sold our home for a nice profit during the pandemic, and after really being honest with ourselves, we are going to continue to rent homes until the real crash is evident. Costs are too high for repairs, our car insurance bill has doubled with clean records, property tax reassessment here in Colorado is astronomical, and now property insurance is 3 x what it was. Nope. Not us, we will rent and try to focus on a good bargain 2 years from now.
Overvalue property by 150-200k. Cut 30K. Wow what a deal!! 😂😂😂😂
The most honest real estate TH-camr, famous for his Boots on the Ground videos. 😊
It's about time
Prices are insane
I like your Goals 👏 Great job Bonkers Brother 😮
100% BONKERS!! Happy 4th! Thank you Jorge!
Hey Trav, so I’ve been a listener since February ever since we sold our home and decided to rent an apartment after relocating. Every morning I listen, while walking our dogs, circling the apartment complex like a hamster in a wheel. I’m hopeful to stick it out a little longer.
@@salvatoredeangelo1697 You could consider renting a house rather than an apartment if that helps you buy some additional time.
I don't know about your complex but back in CO Springs (am in TX now, until I can move back) there are a whole lot (!) of Class A "luxury" apt complexes in the best/scenic parts of the city, and they're very nice places to live short-term or even very long-term. However, since apt rents tend to go up every lease renewal (but not always), that's something you have no control over, but it's something you don't have to worry about if you buy a house. Meaning, the P&I (mortgage pay't) won't change the term of your mortgage even if property tax, home insurance and HOA fees (if any) can go up over time (which increases your total monthly house payment that way). That's fine, at least no more yearly wondering how much apt rent is goign up next lease renewal.
Still, if you have to rent for a while or longer in one of these complexes, you could do a whole lot worse. ;-)
In 2 years time I hope to return to CO and will rent first (in one of those complexes) while looking to buy a house. I hope by then home prices are noticeably down, but the mortgage interest rate is as well.
Good luck,
-- BR
Travis, I watch you from Toronto Canada and thoroughly enjoy your efforts. Thank you.
Hawk Tuah '24
LOL Happy 4th!
@@Matt_K 🤧
I hate that I know what that is 😅🎉❤
Hi Travis, I watch your videos when putting the kids to bed (waiting for tnem to fall asleep for their naps). First it was with my first, and now our second. Been watching for a while. Always great content , length is perfect, keep it up.
I never miss an episode, I'm moving to Florida and you rock.
Realtors and builders simply do not disclose the concessions to the sales prices of comps used by the appraiser. Honest appraisers who report the true net value of a new home sale get blacklisted by Realtors, builders, lenders and their Appraisal Management Companies. Why wouldn't lenders want honest appraisal values? Because they are lending Other People's Money and work on sales commission.
Travis, you have an admirable mission statement for yourself and your teaching. That's great!
great video.. This data proves that at under 5% intetrest and even with concessions prices and sales are still declining. Same will happen in existing especially when rates drop.
We have hyper supply new homes here in Texas and in my market in Houston. Happy 4th brother.
@@realestatemindset Happy 4th Brother. Yep thanks to you and Nick from Reventure i learned how to track the data so I know very well about the Texas and FL hyper supply.
FOMO was still alive and well throughout 2023
4:25 "Please , please for me help yourself". I love it. Great guy. Dude has great energy.
Your growth is important to me! LEARN and grow!
Thx for the update, so glad your procedure went well! Thank you Lord 🙏🏼.
I am a very well-off retiree,....living in MD. I have the cash to buy a house,...in many desirable areas,..but,....truth be told I don't want the headaches. Right,..or wrong,..after years of market insanity,..now increasing homeowners insurance,...property taxes,...HOA's etc,etc,.....I am not interested. Renting works for me,....since I am a bit of a rolling stone.
Thank you Tony! Happy 4th!
I'm in MD too. The prices have not gone down and are still going up. Bidding wars are common. The taxes are too high and insurance keeps increasing, and contractors have doubled their rates. But people keep buying because so many people have government guaranteed jobs here.
@@k.scottphillips8933 Maryland has been good to me,....graduated from Bowie High in 1978. Still,....I am thinking about doing something bold,.....something that would make family and friends shout WTF!!
The quality of your content and analysis keeps getting better 👍 . Thank you for what you’re doing.
you've earned the "bonkers".
If I were a new home builder, I wouldn't be building anything. This market is frozen. 😂😂😂
They have to make a living like anyone else. They can't put off building forever.
Have tons of room for margin compression
dude they want 300k in profit per house. it took me months to find a builder who i could work with.. the quotes i got were worthy of a stand up comedy tour....220k house became 570k house. and when their bs failed to sell it, they just ghosted...
Here in Las Vegas the new home builders have slowed down a lot of them are projecting between 8 months to a year before moving in if you purchased today
total scam. we still build them in a month. 1 year should cover a literal mansion with imported marble workers from italy......
You’re a good person Travis
And how many of these new home sales with National builders are at 60-70 cents on the dollar with private equity firms and are not showing as comps.
Many!
Vuilders are not stopping. They are now going full into duplexes and townhouses. We finished 30 and getting ready for 7 more, forms already poured. Homes don't sell but duplex/towns sell like hotcakes.
Still don’t see any cuts
Travis, keep it rolling!
Happy Fourth of July! Good to see you moving in to a not moldy home! I wish your family a speedy recovery from the sickness and chaos.
Happy 4th! New Studio is ready to go and we are moved in!
Thank you . Honkers!!! I'm looking for a small house with an acre or more about an hour from Scarsdale new York but if prices don't drop 25 percent or more I don't think it's worth it and unlike most people I can afford now but I think it's a foolish purchase at these valuations in my area of interest ( Still!!!)
You live in New York.
Not hard to find a crackhouse.
time is on our side things are looking up
Travis, you should be telling your people that as it has every single time in history, the median prices will on average revert to their historical relationship to median income. That means even if you think you find a 20% wedge If it's still above the historical relationship to median income, chances are you're going to have a property that drops even lower than your brilliant wedge price. They must realize this is not going to be over in the first 2 years
Not in Las Vegas. Not yet.
Thanks, An hope you can still enjoy Independence day while moving!
Happy Independence Day!
Thank you...
ABSOLUTELY BONKERS & Happy 4th Travis!🇺🇸
100% BONKERS!! Happy 4th brother!
BONKERS. Absolutely.❤
Everyone had a place to live in 2018. But in 2020 there was a "historical shortage" of places to live.
How does that make sense? I feel a big rug pull is brewing ahead for realtors and home owners
So many things do not make much sense. Good to be steady, focused and save money!
Probably because Larry The Fink and others bought 1.2 million homes in FL alone....most just sitting empty.
Immigration
@@marilynh5487 I doubt immigrants are dropping $600,000 on houses
Because rates dropped to historical lows and everyone started buying lmao
I'm seeing houses sit longer here in Madison county, IL. I have been looking for a house for a year but the prices are so inflated for the homes. Most of the homes I have been in are not worth 2/3 of what they are asking. A lot of messy rehabs or just homes not kept up. I see people cutting prices but it's like 5 grand for every week the house does not sell. Kind of laughable.
We get reward in private for the good we do in public. Keep up the good work
The Bible says that works the other way around. (Matt 6:4)
@@leeslees65 your absolutely right. We don’t know Bonkers faith so I spun it. 🤷♂️
@@sosonyc I'm glad you agree. The truth is what matters. The Bible is the only truth.
In Vegas Lennar is offering 1.9% first year then 2.9% second year 3.9% third and 4.9% the rest on 30 year fixed with 10k towards closing
Lennar is crappy.
That’s a killer deal! Speacially now days!!
@@beatdown3361 ya it’s a good deal but there prices in Vegas are still high
A new report just came out it cost Lennar on average 50k for there rate buy down program WOW
What if you want to build a custom home? How do those come down?
Drive around some of these new builds and you will see many of the buyers are people that work in the building trade. The ones building the houses are the ones buying many of the houses. I've seen this before. Once the sales fall off, the building falls off, trade people loose their income and the foreclosures start and it will spiral out of control.
Not in san diego..
I might just have to move to texas with the money i have saved.
Prices MUST drop!
New constructions will drop the price by equivalent QUALITY.
Good luck
Bonkers!!!
Actually, like I keep telling you, but you don't read the comments, we are in a depression. Have been for over a year. Stop believing the mainstream bad data.
Bonkers!..
There are no more buyers. people are either impacted by declining economy or wised up
Happy July 4th. Absolutely bonker .
100% Bonkers! Happy 4th!
Builders aren’t cutting prices here. Real estate is local
During the GFC here in Las Vegas a Builder did not want to lower its prices. if you bought from them there was an entry-level Mercedes in the garage waiting for you
Lol an entry level Mercedes!? Just so the homeowner can be buried in automotive repair costs on top of a barely affordable mortgage after a few years? Hard pass.
I would bite for a Honda.
Eastern and south eastern NC MLS is loaded with new construction when searching listings in the 280+ range
Consulting has great value and doesn't drain purchasers spending thousands of dollars on a home or saving for one.
Good advice should always be compensated, even if it's just $1, $5, $10 for a detailed report or a 1on1.
There will always be morons giving hate, please never ever let them stop you from providing.
How is the market in Fredericksburg, VA? Any incentives for new construction?
Buy when no one else can or when others are afraid. That’s how you win. 🏆
And when prices plummet, you're underwater 😂
@@666THEMARK666 yes. Be afraid.
When others are afraid? That won’t peak for over a year
@@SigFigNewton no one knows what will happen and when.
@@MavRick69 FOMO is finishing wearing off, now we’re at neutral
Plenty of room for sentiment to grow negative and more negative
Values are falling here but we bought low so IF our house goes lower than we paid, it won't last, we just keep right on going from day to day.
If the goal is to help people and it’s not about the money then give it all away for free. At the end of the day, it’s about the money.
Prices are still way too high. Homeowners insurance is through the roof too. Getcha some of those HOA fees! Everything is bonkers.
GROSS SALES PRICE VS. NET SALES PRICES, OF NEW CONSTRUCTION. It is important to assess the "sales price" with this crucial distinction in mind!!!!! In the present softening and slowdown, with increased concessions and incentives, the "sales price" has even gone down more than is commonly thought, because concessions and rate buydowns were rarer in the previous market and previous comps.
The big builders have to keep the machine running so those salary keep coming in and they will ride it into bankruptcy
anyone that pays the asking price for ANY home ANYWHERE is a COMPLETE BONKERS.. if your not ASKING OR DEMANDING 25% OFF THE LISTING PRICE YOUR A LOSER! Always look at what the price of a property back in 2015... and that is what it should be priced at!! If not.. WALK OR RUN AWAY..
Unless they did a big remodel.
My house came with a new room, extra garage and a pool, they wanted a 240k markup from what they bought.... pretty sure that's how much they spent on the improvements, not including the divorce it caused.
happy 4th
Brother Doostur! Happy 4th brother!
Not in north carolina thos.. ita absolutely BONKAS 🎉 💯
And the new build comps are mostly sketchy data.
Freddie Mac says most new build comp sales prices do not include deductions for incentives such as rate buy downs, etc.
Love the bear!!!
The US RE market just printed a new ATH. You keep saying collapse and price declines since years.
Prices are too damn high the average Joe could never afford this price I don’t know how the Hell this got this so bad so quick? 😮
I hope it craters. That way the a-hole investors who artificially drove up the price lose a lot of money.
You are bonkers! Keep it up!
If you are waiting for a crash just remember these things
1. Cost of labor NEVER goes down
2. New homes that have been built have ALREADY paid for materials
3. Comparing the price of older homes os not a good indicator of market value because these homes at the 20 year mark starts to have coming expenses such as appliance REPLACEMENT, roof REPAIR, foundation REPAIR, and a bunch of hodden repairs and no insurance doesn't cover these expenses.
A 30k reduction on a 30 year old horse only covers the roof repair that is due around the corner. A new deck repair due to disrepair is 15k for a standard 500 sqft deck, at the rate LABOR costs are going, youre looking at 20k or more.
These new homes will not drop in price because these developers do not want to sell at a loss, and the longer it sits they want their upkeep money back.
These older houses have the hidden costs of age.
The choice is yours
Thanks
For the algorithm.
EDWARD!!! LETS GO!!! Happy 4th my friend.
Bonkers
Bonkers 🎉
I ❤️ the show but I can not keep up.
Average price his an all time high in May. 🤷♂️
not in WAshinton State. Still severely overpriced
Yep. Demand is still high
Supply still limited and demand high. Plus Californians still moving up to Washington state …
Tri-cities is booming cuz of those idiots in Seattle coming over. And of course, CA. And now they're gonna raise gas 50 cents a gallon causing more to leave.
Any info on the NW
Problem is building material costs continue to rise across the board. Some materials are up 100%+ since Covid. So the builders who are selling these houses cheap, are cutting corners somewhere. So do your homework on a home before you buy it.
Bro, lumber was TRIPLE during the pandemic.
@@cpK054L yep, at its height. And the big lumber companies have learned since then they can intentionally shut down saw mills to jack up prices. They are doing it again now. They cut operating costs and then increase price.
I meant lol Bonkers my phone changed it
Except Wisconsin 😢
Are you tracking subdivision comps? If so what are you seeing?
@@realestatemindsetonly by zip code. I don’t have full MLS access (which I think the public should)
Bonkers!! What are you making from TH-cam?
Yep!
Travis, went you find and buy a house with cash flow and wedge. How long do you need to live there before turning it into a rental?
Depends on the loan but normally 1 year.
❤BOOONNNNKKKKEEERRRRRRRSSS
I just bought a house but the builder gave me $30,000 credit and 0 down. 406,000 for 4 rooms
city and statea?
@@looneyyang1326 California Bakersfield
Thanks!
Thank you so much for the support Charlie! I hope you enjoyed the video
Will the prices in Cali drop
Sounds like a class action suit. Pass the info on to some lawyer firms. Maybe you will get paid.
bokers tov
Dominoes starting to fall….
They been falling but they have also been printing money. Crazy times my friend. Happy 4th!
First…
OMGARSHHHHH!!!! My man!!!! Happy 4th brother!
@@realestatemindset you too bro! 🇺🇸 👏
Isn't it Lennar that has seriously bad reviews due to shoddy construction? Bonkers.
HEY
Happy 4th Volvo!!
@@realestatemindsetYOU TOO!
Who is lying more, new home builders or the mainstream media?
When will cities like San Antonio, Austin, and Houston hit bottom? 2026ish?
House prices will drop 90% in 3 years.
Sheeeeeesh!
@@realestatemindset They'll stop printing money December 2024 and then the crash will occur when we can't pay back our debt. I predict total collapse February 2025.
🧦Wool socks to bed = most rem sleep possible 🟪🟨🔵
Thank you! Happy 4th!