3 House Hunting Red Flags You Should Avoid
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One tip is to always look into city planning in the zone of the house. Last year a new builder was offering amazing price cuts and incentives. This was ultimately due to a homeless shelter that was going to begin building right next door within the year. Always look up articles about the area even your cross streets. You might find out information that can save you from headache.
Holy shit thank you
I saw one for a house with “a big front yard for kids to play in”…turns out it was a year away from a road widening to four lanes, cutting out much of that “big front yard” and bringing more and high speed traffic with it!
Ee😊😅😅😊😊😊
That's one of the reasons we bought our home's location in a subdivision away from the main road in a growing town. The immediate area 1-6 miles all the Infrastructure, intersections, small business, housing was already built, except a few small empty lots. Now 23 years later every small lot is filled with small home neighborhoods, and past 6 miles, (our town) a new highway/Infrastructure, , big neighborhoods, what they call luxury apartment homes, with 100's of new apartments, medical, restaurants, outdoor mall, retail, and more.
With more than 130k population growth, and the town expecting another over 100k.
We want to downsize, move and retire.
I immediately do a google street view…I hate being catfished by a nice house set in a crappy neighborhood or street 😢.
I do the same to get a real picture of how tightly packed the street is as well, both house-to-house and width of the street. I've seen a few houses where the whole vibe was very different once you saw the house in the context of the neighboring houses. Then I also discovered you can use the measure tool in Google Maps to actually calculate the distance between houses (if there aren't too many trees).
Same. I also do a flood zone check. Nothing sucks more then having a 1-2 acre lot and find the ENTIRE yard floods every year... paying for the luxury of acreage you can't even use.
Hope my buyers don't do that when I put mine on the market (although I'm sure they will - we all do it)! Google maps of my house is over 7 years old!
I tried this, but it was five years old. Drove all the way out and the neighbor’s house was filled with trash (junk cars in the yard) and what appeared to be illegal drainage pipes running from house to the creek in the back…reporting to the city and dropped that house option in a heartbeat!
Me too and do satellite images. I even check how the neighborhoods are.
If the seller is playing games by delisting/relisting to reset their days on market count, I consider that a red flag. If they’re playing games with Zillow, they’ll play games with the buyer.
Another red flag is the 3D rendered furniture they place in photos. Its almost always off in perspective and generally distracts from the space.
I went to a place that was digitally staged and it was so incredibly jarring to see what it looked like in person
I hate when they do that.
No interior pictures big red flag
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighbourhoods. Then you’ve got Better, average sized homes in nicer neighbourhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
Personally, I can connect to that. When I began working with a fiduciary financial counsellor, my advantages were certain. I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2021 this time with guidance, Long story short, its been 2years now and I’ve gained over a million dollars following guidance from my investment adviser.
This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’AILEEN GERTRUDE TIPPY” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
Imagine to pay 750k for an alright neighborhood to live in Ohio
A quick way to see if a house is a flip is to look at when it was last sold in the Zillow history below the main page. If it was bought within a year or so and maybe even listed for rent, then selling at a higher price then it’s definitely a flip and you should be wary.
That and the date of construction…I bought a lake front house built in 1976, I am renovating it right now, but not for a flip because we want to live there, but it could have been a flip….a recent build house usually don’t fit for a flip, you pay to much to have it so not enough profit, unless you see a bargain below the market and that is rare.
Basically every single house in my market (north Atlanta) even remotely close to my price range is a flip. And if it's not a flip, it's dilapidated. 🤦🏼♀️ I used to despise flippers, but I'm starting to thank them and instead despise the people who bought homes and let them fall to piles of crap. I couldn't afford to flip a house...I'm grateful that at least the flippers are finally being forced to bring their prices down.
There have been multiple house in my area that have sold then listed again for 100k+ more in only 2 months. Always with an updated kitchen and bath. Redfin will sometimes let you see the pictures from when it was previous listed.
What's the problem with flippers? Just buy a nasty house and fix it all yourself! Or built a new one altogether!
I prefer a fixer upper, in 2011 I bought a small (1200 sq ft) log cabin on 3 acres, on top of a small mountain (3,000 ft) with a view over the tree tops. It was in foreclosure for 68,000 and it was a disgusting, stinking home but I saw the potential and I purchased it for myself to live in. I renovated it myself, and with a little help from 2 friends who did the structural stuff. I did the rest: flooring, a complete new bathroom, kitchen, everything. I lived in it for 4 years and then it was time to move on. Spent about 38 k on remodel, sold it for 190 k. Not bad if I say so myself. So I’ll take a fixer upper anytime.
If you are a novice, don't buy a flip. Flippers buy the nicest (poor quality on the inside) stuff. Stuff that looks shiny but will break in 5 years.
I always head straight to the HVAC and attic. I ignore the fabulous remodeled kitchen. I look for the things that are going to cost me the most money.
I've seen HGTV level remodels with the HVAC that looks like its from the 70's, mold all over the attic. Paint covers up a lot of things.
We saw a house that had a 2019 furnace. This thing was so rusted it looked like it came from a condemned house.
@dismurrart6648 good for you for recognizing that. Newbies, look at that newly remodeled kitchen, and immediately make an offer.
Then, they get buyers' remorse when things start breaking.
@@YoPhocFays oh man, we saw a really pretty place but the remodeled kitchen was literally stickers and melamine counters. They bought the place for 250k last year and want 400k this year. That place was wild because I'm not a builder and my knowledge is "here's how to patch walls and put down tile." I could tell this place was cheap garbage. But it was pretty garbage
@dismurrart6648 lol, pretty garbage. That is pretty accurate. Yes. I've installed many fixtures, toilets, faucets, ceiling fans, etc.
I bought those nice-looking, cheap priced items at lowes, thinking it looks just as nice as the expensive stuff.
When installing, you will notice the difference right away. Plastic parts on the inside that I knew wouldn't last.
Now I will never buy those cheap "on sale" items.
@@YoPhocFays I got a bidet once and will be more selective in the future. It worked great but one taco bell visit away from being impossible to clean.
Cant stand sellers who reduce the price by $1 and/or relist the home so that they show up at the top of filtered lists
So you wouldn't do whatever you can to sell your house for as much as possible and as quickly as possible? I don't blame anyone for doing whatever they can I just don't like when people try and hide things that are wrong which is technically illegal in many areas but people do sneaky crap ALL THE TIME. I wouldn't say just trying to make the listing as visible as possible is in that category they're just trying what they can to get people to look at it and I don't blame them.
@@joefuentes2977 Good point and totally understandable if the home is reasonably-priced in a competitive market. I forgot to add if the home is over-priced and sitting on the market for a while.
@@bitfix0133yeah people need to be realistic and I agree it's annoying when they overprice it egregiously. I guess it's a red flag in that they probably aren't serious sellers and just "testing the market" to see how much they can get out of it but if you have a good realtor they should be able to bring them back down to earth if you want to make an offer so sometimes you gotta take the list price with a grain of salt.
I agree. I see this all the time. I have been looking for a year.
@@joefuentes2977 if the house was priced correctly they wouldn't have to play those games. You know when a company keeps shoving a advertisement in your face for a product that is overpriced and then they reduce the price by 0.001% and call it a SALE! That's a slim ball seller trying to play tricks which actually has the opposite effect that they want on buyers. Those are unprofessional tactics. I don't respect it.
My family's house was on Zillow for like 300 days. The previous owner was a hoarder. And thank God she was, we got the house much cheaper and once the place was cleaned up. It was so beautiful in a country road in a small town
FOLLOW THE INSPECTOR AND ASK AS MANY QUESTIONS AS YOU CAN. You are paying them to inspect and you need to know what you’re buying. Learned my lesson hard.
Tapestries / Blankets hung up on walls could be a red flag of hidden damage. We looked at one house that we almost bought and saw a tapestry hung on the basement wall and thought nothing of it, but when the inspector looked through the place they found a giant crack in the wall that you could fit your hand into
Our house had a gorgeous bookcase in the office that after we moved in and it had been removed was actually coving a literal hole of missing flooring in the wood floors you could see the ground beneath the house through. They also ripped out the stapled carpet rugs hall runners and stair covers leaving several years of random stepping on splintered wood and staples. An entire window frame fell out on its own one day, we saw that they missed the frame completely and placed it into drywall. The seller returned a week after we lived in the home while we erected at work and dug out a Japanese maple, several rose bushes, the entire planted garden and bags of stone and mulch as our new neighbors from hell just watched. Told us later as I was outside thinking am I crazy or was there a Japanese maple in this spot.
The a/c was a 10k replacement three days in. The only ac guy in this small town was the guy who was told to patch it up so it passes inspection and whoever buys this place will deal with it.
The seller told us to kiss his ass and sue him because we couldn’t prove he did anything.
12 years now, 9 years until retirement where we can even think about buying another home because our family is in another state and I’m in hell.
I’ll never trust anything but a naked home buy again.
That's so wrong 😂just trashy😊 to try to hide it
5:48 It's horrible because there is no cabinet space. Where are you putting your dishes? It's probably been vetoed by every person, who actually cooks and entertains at home.
After selling two homes in 2020, I'm anticipating a housing crisis in order to buy inexpensively. As a backup plan, I've been thinking about purchasing stocks. What recommendations do you have for the best time to buy? On the one hand, I keep reading and seeing trader earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?
Most investors can't handle a crash since they are accustomed to bull markets, but if you know where to look and how to get around, you can profit handsomely. It depends on your entry and exit strategy.
The fact that the US stock market had been on its longest bull run ever makes the widespread worry and enthusiasm understandable given that we are not used to such unstable markets. As you pointed out, it wasn't tough for me to earn over $750k in the last 13 months, so there are chances if you know where to go. I hired a portfolio advisor since I was aware that I needed a solid and trusted plan to survive these trying times.
I tried researching strategies to profit in the current market because my portfolio has been in the dumps for the entire year, but everything I tried just seemed to miss the point. Please let us know who your asset manager is by name.
Her name is Sophia Maurine Lanting. Hope that helps
Just copied and pasted Sophia Maurine Lanting on my browser and her page popped up immediately, thank you for saving me hours of researching.
I've been looking for ~5 months now and one red flag I run into over and over are noticeable fish-eye interior pics, especially if there's no floorplans on the public site (Redfin, Zillow, etc). I've yet to visit a super fish-eye house and NOT be disappointed, so at this point they get moved to the bottom of the tour list if they make it at all. They are just hiding how small the space is or feels. I'm also just continuously irritated that more houses don't include reasonable floorplans in their public posts. More than half of my emails to my agent are "Can you find floorplans for this address in the MLS?"
Yeah they should either be using a good 3D tour software like Matterport or if they are too cheap for that then just using a smartphone to do a video tour. There's no excuse for bad photos or no video/3D tour available.
The pictures of the interior could also be dated.
Yep, that's how I just started ignoring Open Door managed houses. Great pictures that skew the sense of depth and width and then you get there and the rooms are actually much smaller than they appear, clear smoke/pet damage and paint slapped over water damage. Waste of time. 🤷♀️
Yes! My biggest pet peeve because you can’t see what the actual space is. We have sold two houses, and I insisted on taking my own pictures with no wide angle shots.
Yes.. sneaky camera tricks piss me off
I agree about the red flag #3. Sometimes these listings don't even be having pictures of the front or the yard of the house at all.... like hello......what are we doing people???
I actually prefer a home that has been on the market for a long time so I can lowball them.
Lol that is funny :)
Ur parents are prob proud of you.
The faux wood laminate floors really drive me crazy. Literally sellers install it in then try to charge like they installed real wood. The laminate looks nice on camera but in person looks and feels cheap and dents easily.
You mean “luxurious laminate”? 🤣🤣🤣 I hate the stuff. It’s like 2000s linoleum.
@@katydid2877 Exactly! Nothing 'luxurious' about laminate lol!
Yep! I refer to them as plastic floors
Long listing time with dropping prices might not be an unreasonable seller. They could also be someone who borrowed more on the house than it is now worth - due to market fluctuations. I wouldn't automatically disregard a house *just* for that.
Always walk the neighborhood before buying. My neighbor bought his home and it's overpriced for the neighborhood. It was also a flip that was done quickly (less than 3 months) and sloppy. He moved from a different state so he did most of his home searching online.He's gonna have a hard time selling that home and at least getting the price he paid back. Gentrification gone wrong lol.
A lot of times houses sit because they’re over priced. I always stress proper pricing to my clients. People know when they’re paying too much! Overpricing will kill your chances of selling.
Totally agree with your three red flags. Another red flag I find a lot is when the interior and exterior photos are cropped to edit out much of what is outside the windows or surrounding the home. A quick google street view can show you what’s missing in those photos…like the neighbors large truck being parked right alongside the home for sale, so the view would be your neighbors truck as long as it’s parked there…or there may be a lack of sidewalks in the area (as a dog walker, I like sidewalks) or maybe the driveway is just dirt, etc.
happy house hunting, all and thanks for this great video.
Agreed! There was a beautiful house listed, then I drove my and it was next door to a body car repair shop. and mean the wall to that business was feet away from the house. The noise would be nuts.
Be cautious of remodeled open concepts. A lot of people tear down load bearing walls
I ran into this issue this weekend . The entire staircase leading to the 2nd floor is leaning to the right meanwhile the rest of the house is beautiful. Open concept .
@justsomeguy711 ooof that's tragic
Solid red flags in the video but so many more in the comments section 👀
Virtual staging. If I see all of the photos with virtual staging and no original I know there is something wrong with the space that they want to hide. Also the photos with filters.....
A couple things I came across in house searching a few years ago. 1. A house that was a flip, but they were living in it. When I went to look, it was obvious they over did it for the neighborhood.
2. Looked at another house in the rain and the front yard and driveway were flooded! Actually bought in the area and when that yard is dry, doesn’t look bad. Sike!!
I've seen houses up for a long time and then suddenly it's reposted and the time online has restarted
So many of us refuse to get in the market unless the prices drop considerably.
I've said this since 2018. I still don't own a home.
Ya talking like at least 30%
Some said the same thing in the 70s when mortgage rates were higher. Those people waited til 1992ish. In that time housing prices had quadrupled. Regardless of your rate, if you owned a home in this time and maintained it, you made it out on top.
But yes you have to be wise about your investments. Don’t “wait for the moon, stars, sun to align”. You’ll never buy.
@@SoTaSpEaK prices and rates are different things.
@@stefanagiovlasitis2669 thank you for that clarification.
A red flag I have seen a few times is if the pictures have snow, it is currently late summer, and they just put the listing up. It is a good idea to google the address too. Look for any news articles about the house, and look at google maps to see what the house and neighborhood used to look like. Do a physical drive/walk by before inquiring about the house too. If it is a city that is prone to flooding/forest fires check the maps to see if the house is in any of the danger zones.
Great video! I’d like to add, it’s super important to investigate the property’s county GIS listing online before making an offer. While the info isn’t as accurate as a professional survey, it details where the property lines, easements, paper roads, and floodplain designations are.
I always search for smells, paint quality, maintenance, owners history (this is where you can also find out if it’s a flip), neighbors, location, parked vehicles in the street, of course your method saves you time but I definitely commit to find the right home, not everybody do this. I also love open houses they are the best since you are not pressured
I just had to comment because I was flabbergasted that I recognized the first house you showed - I've actually gone to see that house! Just from the pictures alone it looked like a decent house in a nice area, but when I arrived my realtor saw immediate red flags with that home. There was major cracking and movement with the floors and walls on one side of the house and the cracking was even more obvious/worse when looking at the exterior foundation, there was a crack in the pool which my realtor informed me could be thousands upon thousands to repair, there was visible damage on parts of the roof and support beams, potential water damage visible on the ceilings, etc. For some reason, the seller had all the faucets and light fixtures removed from the property as well. Just so many red flags!! My realtor said that house would only be viable as a flip house and to lowball the offer immensely because it was certainly not worth the price it was at.
Thanks for this. I just looked at 4 different houses on monday, and this helped shift my approach as we continue looking.
Finding houses that have been sitting is the best way to get a house...no competition...its either find a house thats a value and bid vs multiple offers, or just overpay from the jump
I think he mentioned this as well, just said it’s a risk bc there is often a serious reason nobody bit the bait in this market.
I lucked out(kinda). My apartment burned down last year.
We found a place we love with no real red flags. Everything was either fine, normal wear and tear, or issues that are easy fixes. It had a few offers already that tried to lowball. We offered asking price, and included a letter about how the fired took away our feeling of home and how much we love this place and they accepted our offer right away.
I love remodeled houses that were purchased by the current seller already remodeled by the prior seller. Often, these houses come with a hefty price increase. Check the photos on prior listings.
LLC: 5 different flooring ( 2 unmatched tiles, wood , rugs …)
Over priced!
Ridiculous …
In finding a lot of channels and content like this supper helpful even if I’m nowhere near ready to get a house yet
My biggest red flag you essentially covered. I like to look to see when a house was last sold, and if it’s less than 2 years that’s a red flag to me that something is wrong with it. Especially if you can see that pattern repeated through previous short term owners. Even worse is when a house is remodeled but last sold 4 months ago, showing that someone bought it for the sole purpose of a quick (and likely poorly done) flip.
The effects of the downturn are beginning to sink in. People are being impacted by the long-term decline in property prices and the housing market. I recently sold my house in the Sacramento area, and I want to invest my lump-sum profit in the stock market before prices start to rise again. Is now the right moment to buy or not?
Given the current market situation and the precarious state of the economy, I would recommend refraining from investing in stocks for a while or, alternatively, seeking guidance from a financial advisor. However, keeping a portion of your wealth in gold remains a wise choice.
I completely agree. I have been consistent with my profit regardless of the market conditions. I got into the market early in 2019 and the constant downtrends and losses discouraged me, so I sold off. I got back in December 2020 and this time with guidance from an investment adviser who was recommended by a colleague
Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Margaret Johnson Arndt for the last five years or so, and her returns have been pretty much amazing.
Thank you for the helpful tip. it was easy to find your coach. Before scheduling a phone call with her, I made sure to do my due diligence. Her résumé looks impressive, and she appears to be highly proficient in her field.
The house I bought had multiple open permits with the city...we only agreed to buy if all the permits were closed b4 closing
That's not a red flag imo that's super common and doesn't necessarily have anything to do with the condition of the home and the seller should always resolve that themselves before closing.
Why is this a red flag?
Worse is a complete remodel including roof with no permits.
I wish this video was around when I bought my flip in September. Its a beautiful lemon 🍋 😐
Truly appreciate this info! We bought our first home in 2021 and had many of these red flags that at the time I was unaware of. Now I’m stuck fixing them and preparing to get a different home! I am learning all I can to be better prepared for our next home!
I’m so glad you did this video these are always my red flags!!! Especially the remodeled inside as the first picture and the outside is not what I’m looking for! Please just make sure it’s livable and safe for me and my family and priced well
I go directly to county assessor site. Who it is (LL or homeowner) when they bought and what they paid. Helpful especially buying plexes.
Your 2nd point is so critical! I was told this but I didn’t realize the house I bought was flipped (not by the seller I bought it from but the previous one) until after I moved in. I just made sure the guy selling it when I bought it didn’t flip it. Well… the owners that flipped it tried to save money with the insulation… needless to say it’s a nightmare. There is so cold air that comes in from every single crack between the walls and the floor. And there are huge gaps between the floors and the walls too. I also noticed a lot of cosmetic things like horrible backsplash. Just things you would not notice unless you are looking for them.
The problem with updated homes is they update everything you see and nothing you don't which is what you want updated because when the plumbing and electric and havoc go wrong it won't matter that it has quartz counters and new cabinets
wow! I just delete a dozen savedproperties.....lol
Great info.
Some things to think about
Some of those “red flags” can be a great deal
1. 90 days or longer on the market? Offer 10-15% less . Your first offer will not be accepted, your 10th offer will not be accepted. You 30-40th offer will be accepted. Offer 20% less and you just got a deal even you you have to fix or change couple things later.
2. If the house just went on the market and it is well priced all the detailed questions about remodeling will be politely answered and the first offer will be accepted and you will loose the deal .
Just do the inspection and make an offer .
Helpful as always javier. your editing skills are really pro. Good job.
There’s a brand new house I really like online but it’s been on the market for 130+ days. It’s a cabin, just built last year, I know the main reason it’s not being purchased is the area is not wealthy and is in the red when it comes to poverty. Same reason almost all other houses in the area aren’t being purchased regardless of price and age.
I check Zillow for the days on market but most of long listed houses take off their listing and put them back again. This shows more short periods of listing. It’s definitely red flag.
There is a townhouse in Winter Garden Florida that's been on the market for so long. It went into pending and then came to to the listing, the other weird part was the seller tried to rent the place for the whole of 2023 and it never went on rent, at least based on the listing history of the property. The description does mention the house has an "Assumable Mortgate" which I think is driving away all the potential buyers.
Why is an assumable mortgage a red flag?
@@bigad23 because the terms and conditions of the mortgage may not be favorable to the buyer. We don't know if the seller has refinanced it and now has a higher interest rate. Just my assumption. There very well could be other factors why the house has been sitting for so long.
@@new_nonsense thank you. My realtor told me it can be a great thing, so I am trying to understand all of this.
Also, watch the sky/weather (bluer or redder than usual), then the interior lighting of the pictures (really bright inside a windowless room). Every photo taken by smartphone is HDR boasted and color corrected to the point where even the dimmest closet can look like a brightly lit cave. The real deal belongs to older point and shoot camera, they do not lie.
Houses used to be in the market for a year or more. 3 months is nothing.
When the new construction builder forces you to use their title company or they wont sell to you.
Also, have your realtor show you pics of the home from prior years. This saved me from buying a piece of crap that was very well remodeled.
I dont mind pics not starting with the front of the house. I'm looking for very nice renovations and it helps me immediately filter out houses I don't want to see. Otherwise I need to click on every listing and scroll through the pics.
Theres a gorgeous housenear me thats going on 70 days on the market. They bought it for 180 less than they're asking for now, about a year and a half ago. The foundation has visible cracks, and the house is at a noticeable angle.
You can hear the highway through the walls.
I call it an ikea house because thats just a fraction of the issues we noticed in 30 minutes.
Renovated house is like putting lipstick on a pig, everything look good on the outside but fuqqed up internally like foundation, hvac, plumbing, electrical, mold so many thing that could be going on that u cant see from the surface.
I like the way you explain everything
“LET IT ROCK”
Yea...gotta look out for those lying contractors
A house in my town was remodeled in 2019, sold for 199k and the current owner live in it for 3yrs and listed it for 250k, it’s been on the market for half a year now. It’s a beautiful home but too expensive in a small town that no one makes that much.
I need a 4/2 move in ready for $159k-$180K!!!😁😁😁😁
in what country? haha :)
I got my first house in Oklahoma and I thought that I was able to get remodeling, fixer-upper, or renovation while working one job. However I was wrong because my PennyMac mortgage Company didn’t help me with refinancing the monthly payments as I kept explaining about my financial situation. The seller of my purchased house just rip me off of the “needed repairs” while my previous contractor was lazy doing the easiest part of repairs(which I can do it without any help). Thanks for showing me this.
You edit videos like a pro these days javi. So cool and fun to watch.
A great thing to do is watch a couple friends go through it and see what issues they come across. It will help you to not fall for those same issues.
Thank you for your channel. Has the exact type of stuff Ive been trying to get guidance on. Lots of other educational content I see is too conceptual.
I live in an area with basements. I'm always concerned about foundation issues and water damage, so the first place I go is the basement. One place I looked at (Open House) - realtor was right on my heels when I went to the basement, and was clearly trying to divert my attention. I ran far and fast from that one.
Me and my sister were lucky that thanks to her being a vet and we had found new construction housing right near the military base, we live our house and between the two of us we can do it.
I went to one with a amazing garage, then when I went to go see it, it was a wide angle lens, the garage was SUPER tiny. I felt cheated :|
(Subject to opinion lol) Not sure on the Remodel red flag. When making the biggest investment of our lives I’d say it’s part of the checklist to make sure the important things are working correctly. (A/C etc.) I think making sure the remodel isn’t hiding anything is more of an extra step in the whole process than a red flag. Ensuring there isn’t lead paint/asbestos etc. in an older house I see as an extra step not so much a red flag.
I only bought homes in KY and WA, not in PHX. Not sure if it’s notorious for mostly being bad homes if it’s remodeled or something.
Long as the important things work and it’s not overpriced then remodel should be fine.
Thank you I know what to look for when I go to purchase me a house. I thought it was showing you the kitchen in the living room meant the old is the awesome house but I see now if it doesn’t have a main picture of the main front part of the house is the red flag. Thank you
Something funny of where I live the "front of the house" is on the opposite side of the house from the street view. Street view is very nonchalant, and it's hard to tell where eat property begins and ends.
Don't buy cardboard houses... Buy brick houses. Their value lasts...
Something to consider when first talking to your lender and getting quotes for rates, it's almost always better to lock in a rate if the economy is shaky, like right now. We waited 2 weeks to lock in our rate and DESPITE the Federal Reserve lowering rates, interest rates for mortgages went up by 0.25% for us. Not a huge deal but an extra $60 we have to pay each month.
Thank you for sharing the information!!! Well, educate the need for home owners
I am seeing Realtors take housing off the market and then relist it to make it look like a new listing. Sometimes they add "reduced price" to it but then if you look at the history you see the game they're playing.
I have also seen Realtors raise the price just to lower it to make it look like the price has been reduced.
Some property I'm looking at for sale is still for sale almost 2 years later and the realtor is doing what I mentioned above consistently. (The property is extremely overpriced and that's why it's not selling.)
In all of the years that I have bought and sold my own home I have dealt with about two dozen Realtors and only about three Realtors were actually honest to me. So I find a lot of unethical Realtors out there that are dishonest.
There’s a really nice house in my area but the husband murdered the wife and they had adult kids but barely out of HS , sad situation and nobody has bought it’s been on market for a while now
Holy crap!! What’s the address?
@@JavyVidana 1422 Glenwick ln , Irving Texas 75060
@@JavyVidanametiche! But if you get it make a video on weird situations like these!
I predict someone will buy it once it's listed at the right price. 🔮
@@belindawilliams4915 I was thinking the same thing, it may be overpriced we don’t know what the balance is
There are 3 new construction houses near us. Been on zillow 400+ days, no price reduction and no change in status. It's weird
Zillow does not always tell the truth on how many days homes are on the market.
This ☝🏾 video was very informative.
I only look at properties with higher days on market. Also, you saying a "flip" means they did the absolutely minimum possible? Hardly. Have you seen the low quality of new construction!?
Totally agree. Builders use the cheapest materials possible too since it’s literally just business for them. In that sense, 99.9% of homes are a “flip”, new construction builders are just doing it on a larger scale.
Great inside tips!
Thanks
I’m considering whether to retain $3 million in single-family rentals, we have $900,000 left on mortgages. What is the possibility of maintaining $70,000 annual income by selling and investing in stocks and bonds?
Real estate, while a solid investment, demands effort and lacks liquidity compared to stocks and bonds. Long-term market trends should guide decisions.
Sell and invest option viable, but crucial to consult a trustworthy financial planner for income projections aligned with your goals.
0:12 monica 0:12 mary 0:12 strigle, a remote wealth advisor, significantly grew my portfolio over 200%, providing focused and clear guidance.
Real estate isn’t as liquid as cash or cash-equivalents, or even stocks and bonds. I rather the latter. Just as you’re experiencing, real estate can be a lot of work.
Strengthen other assets, consider reputable money market funds or mutual funds for emergency savings. Assess mortgage rates and allocate excess funds strategically.
Ok so we live in SoCal where the average decent ok home is going for 600k plus right now. For starter we don’t have enough saved for a 10 or 20 percent down. I called a lender for shits and giggles and he said we need to have 60-100k saved that really shot our dream of owning a home in SoCal. The trend that I’m seeing now in homes that are for sale here is homes sold for 400k in 2020 are now selling for 700k with out any upgrades or renovations.
Good advice on your videos. I found your channel just now looking for information on buying a home, plus I heard Sonic music at the end. Instant New SUB!
How can you find the tax records?
If there’s a red stain when you lift the carpets is a red flag for me
Easy fix 😂
What if the map location of the house/condo/townhouse isn't where the house is located?
Too many exterior photos bothers me....I don't live outside.
I foresee a potential downturn in the housing market, attributed to a significant number of individuals purchasing homes above the asking price, despite favorable interest rates. Despite these low rates, many now find themselves at risk due to insufficient equity in their properties. If housing prices continue to decline, they may encounter challenges in selling their homes or even face foreclosure if they can no longer afford their mortgage payments.
This situation is expected to affect a significant portion of the population, especially with the projected rise in layoffs and the rapid escalation of living expenses.
Predicting the housing market in 2024 is challenging because it remains uncertain how swiftly and to what extent the Federal Reserve can reduce cost surge and borrowing costs without negatively impacting buyer demands, including homes and automobiles.
This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
I agree with red flag 3. Nothing cynical about it 😊
The problem I see more often is remodeling with the cheapest things made to look fancy. Putting lipstick on a pig they say. Without fixing other things that should be fixed. Baseboards that have obvious water damage and bubbling paint but a new cheap bathroom vanity put in.
#1 tip for new homebuyers: Find a good/honest real estate agent. You should do your own research as well, but your real estate agent should be pointing out these tips & any others out to you. Don’t be afraid to ask “stupid” questions to them, if they are quick to shut you down, move on and find another. I probably spent way too much of my time doing all this research, when honestly my real estate agent could’ve done it mostly for me, that’s partly why they are getting a commission for.
Also-consider checking out your local jurisdiction’s rules and regulations on work done. Some jurisdictions are more permissive than others, and the ones that are not permissive might pop up suddenly and issue the dreaded red tag/stop work order-a literal red flag. An unscrupulous house flipper/contractor will remove the red tag to avoid the issue getting caught by prospective buyers. The question can be as simple as, does the jurisdiction require permits for renovations and the jurisdiction should be able to provide an answer of some kind-in person, over email, or on their websites (I’d warn against voice mails…)
Great vid man, hope you've been well!
Probably people don't have enough money or the location is bad like weather/temperature is it too hot or too cold.
My red flag is that they do not provide a few most recent videos of a house / neighborhood. I don't have time to visit a house by a house in person. I don't have to look at pictures that are useless. Until I like one or two houses from the videos, I would do my research into zoning, history, etc. If I am fine with those houses, I would make the time to visit along with an inspector.
Same applies for cars when I am looking and the dealer uses a stock image. That's aHard pass. Also it's being cleaned coments then don't post it before its ready.