Is The Real Estate Market Cooling Off? | June Market Update
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- čas přidán 7. 09. 2024
- In this months video, Bryan confronts the myth that "a wave of foreclosures" may crash the market in the imminent future, while covering the normal analytics such as: Last Months Sales, Median Price, Inventory Levels, and Price Absorption By Price Range.
If you have a comfortable mortgage payment, low interest rate and good equity - you need to stay put unless you NEED to move. Use that equity and finance a mini-refresh or complete remodel. Even with the debt payment on that new debt, you'll still be at a cheaper monthly payment than if you sold and bought something else.
Happy to see 0-250 back in the charts! Please consider including it for the next few months.
I look forward to these every month!! Great stuff!! Been watching your videos for the longest since you had 2k 3 k followers… crazy ! I hated the idea of having to reset my password because I didn’t know my emails either and I wouldn’t log in from the phone(where I usually watched your stuff) lol now I’m subscribed!!! 😂🎉
great update as usual. professional and class act ,thank you
Much appreciated!
However if home prices do drop you won’t be able to refinance. Hanging on tight until either prices drop of just may find better home deals in another state where prices are already coming down. With money saved for down payment it still feel like we would be over paying if I was to get a home right now, so we are on the side lines!
Will you be waiting on the sidelines for the next ten years if the price doesn't drop? I feel your landlord should be happy having you as a tenant paying off his mortgage 😅
Well, "to each their own". But not sure you're going to see the desired effect. Not to mention, the GOAL is to pay off your home. On a long enough timeline, home prices don't go down. In my world, better to jump in NOW, then lower your cost basis with the eventual refi. Depending on loan term, you're looking CHEAP in 10 years with only 5 - 20 left to pay. Go back 10 years and look at prices? Then go back another 5 years.
Just on my channel... You can go back every year and see comments of people with the same remarks. Meanwhile, they missed out on 2x to 4x on values just waiting on the sideline waiting for the "crash".
I am a buyer $0-$450. I have seen many homes go under contract and then come back on market. Any thoughts as to the causes? Is this concerning?
Probably didn't appraise or bad inspection.
What makes you think rates will come down in a few years. When I had a 10.75% fixed rate in 1986, it took to 2018 before rates dropped to 5%
Different eras man. Eventually economy will put pressure on rates to come down to stimulate buying and selling. Economics. Ebb and flow
Sure. I see your point. But thats an EXTREME example. But even with your example. In 1984 the rates were 13.88%. Two years before that in '82 you were looking at 16%. So in a 4 year span rates had dropped 6% for you. 🤷♂️ It took 7 years back then, but by '93 you were sitting at 7.31%.
Additionally, it's not only me that believes rates will come down. That seems to be the general consensus.
Thanks for the update!
The decisions are tough, can you speak to the mortgage payments vs rental values in a future video? For a lot of first time buyers their mortgage payments are upwards of $1,000 more than the rental value of the property. $3,000 mortgage, when the home only rents for $2,000. How do buyers justify that decision? Thanks again as always.
Thats a GREAT point. I agree completely. Unfortunately, yes.. This leaves not much of a "plan B" for many. Not only that, but the barriers to entry are only getting worse for first time buyers. Sadly, at some point you simply have to "jump in" 🤷♂️ I don't see the trend reversing any time soon.
Great videos Brian, thanks for the updates
My pleasure! Thanks for watching!
There is no reason to have a buyers agent. They have never acted as a fiduciary for the buyer. The fed funds rate is going to zero. However, when this happens house prices will be priced significantly lower than they are now. We are in for a world of hurt. Years of over leverage and speculation have caused us to do crazy stuff.
I bet your housing market crash dreams are amazing 😅
@@pepperonipizza7633😂 my thoughts exactly
😂
I’m waiting for all the houses in the Ridges to drop below $500k. Then imma swoop in and buy a few 😏
Price drops everywhere I look
I’m plan on going without a buyer’s agent if I have to pay 2%+. I’ll hire a lawyer for the paperwork. Hopefully someone will come up with a reasonable buyer’s flat fee model.
Makes sense if you're a seasoned buyer / investor. However, this is going to get very interesting once you start introducing attorneys into the mix. For a multitude of reasons, this may make getting an offer ACCEPTED a challenge.
If there’s a crash, you “marry the rate” because you have no equity.
Well, if there's a "crash" we all have big problems.
2005 vibes 😂
Only time will tell!