Sold my home and had 22 offers. I picked a family with a letter that touched my heart. A month after closing I see my house for rent. Fml
@stagehog81
3 жыл бұрын
My house is not even for sale and I am getting bombarded by letters from realtors asking me to sell because my neighborhood is a hot market right now. I bought my house after the last housing market crash when prices and interest rates were low and if I sold now I could easily sell it for almost double what I originally paid for it, but I also know that any other house I tried to buy right now would also be at an extremely overinflated price and when the bubble pops I would then be financially underwater. Selling looks good right now, but is extremely risky.
@puddincup9879
3 жыл бұрын
You sold it
@BIGPAUL310
3 жыл бұрын
Can you share what the letter said
@Sandy33569
3 жыл бұрын
Ok.. but some people only have the option of renting a house and can’t afford to buy a house at the moment. So as long as it’s not some corporation having bought the house.. who cares?
@btorres2501
3 жыл бұрын
That makes me sad. My husband and I were up to 5 offers and so many houses toured and I finally wrote a letter on the house we are closing on today and the seller picked us over a higher offer for the same reason. We definitely plan to be in our new home for many years to come. Sorry it didn’t work out for you :(
@youtoobization
3 жыл бұрын
So now rents are going to go up too? This feels like an American nightmare.
@miriamllamas224
3 жыл бұрын
In London house prices are going up but rents are going down 🤔
@donnavannostrand2378
3 жыл бұрын
They already have! Shortage where I am and 12% price increase in the last year.
@infini.tesimo
3 жыл бұрын
No that's not true. Austin for example the rent is more or less the same, if not lower because everyone and their mother wants to buy a house. Specifically the apartments. I can still get in under $1k and get all amenities included with firnishment.
@glittersilver7779
3 жыл бұрын
News flash!!! Rents rates are already climbing through the roof!
@1966bluemax
3 жыл бұрын
There’s always prostitution
@dogan6070
3 жыл бұрын
Don't be desperate to buy a house. When you're desperate you're going to pay through the roof.
@SethMacLeod95
3 жыл бұрын
Amen. I’m 25 in my grandmas basement saving 1200 a month and there’s times I wanna just go and do it but not foe the right reasons and not feeling like the right time.
@SethMacLeod95
3 жыл бұрын
@@dogan6070 thanks man. Appreciate the encouragement. Have a great day and life my man!!
@TheeBlackSilhouette
3 жыл бұрын
Sucks for people living in bad areas
@raycasares3379
3 жыл бұрын
It's obvious who's buying them all. CORPORATIONS SHOULD NEVER BE ABLE TO BUY HOUSES
@snoopylyn9065
3 жыл бұрын
Monopoly game 😓
@divemanred
3 жыл бұрын
I’m not a corporation.... closing on my fifth house next week
@djjeffro5081
3 жыл бұрын
@@divemanred good for you, but doesn’t change the fact Ramsay corporations are hedging houses. KB homes just sold a whole neighborhood to investors in Conroe Texas, so the homes can be rented out. 25% of the homes in Houston were sold to a corporation in March. These corps have little faith in the dollar, and having a hard asset I. Single family homes is the new secure bank/investment.
@divemanred
3 жыл бұрын
@@djjeffro5081 is the neighborhood you are talking about sold to fundrise llc? Because that’s a company that anyone with 500 bucks can join
@divemanred
3 жыл бұрын
@@djjeffro5081 just checked yeah sold to fundrise anyone can join that platform
@guidosarduci6664
3 жыл бұрын
This is no joke... Sold my home in 12 hours, after 6 bids, bidding war, and 50K over asking price!!
@miriamllamas224
3 жыл бұрын
How much did you sell it for? 🤗
@Kevin-sm8pn
3 жыл бұрын
That's it? I sold my house for five billion above asking and it was only listed for one millionth of a scone. Beat that, dipshit!
@miriamllamas224
3 жыл бұрын
@@Kevin-sm8pn funny troll 😂😂.
@karlozlopez8535
3 жыл бұрын
And now what ? Buy another over inflated house or be homeless?
@hlsot569
3 жыл бұрын
@@karlozlopez8535 Motorhome 🤷 Oops 🤦 NO MORE SPACE IN RV PARKS ‼️ 🙉
@Marina1686
3 жыл бұрын
I tried to buy a house in the Atlanta area for almost 6 months. I put offers in five different properties and lost them all. I'll wait until the market crashes to buy a house.
@wood8715
3 жыл бұрын
Yes wait. It crashed after the 2006 rise. Prices will fall.
@dzl8596
3 жыл бұрын
Nope. The 2006 rise was artificial and most of those people couldn’t afford their house. This one’s real because of supply and demand.
@xxxxMonkeyGirlxxxx
3 жыл бұрын
@@dzl8596 it can crash if something like the stock market crashes. People like Warren Buffet are sitting on $3 billion in cash waiting for a crash to happen.
@jpimp491
3 жыл бұрын
It won’t crash maybe reduce like 10-20% when interest rates go back up. All the people getting houses are qualified with better credit then before 740+.
@angeldavila4669
3 жыл бұрын
nothing is crashing
@calientemac1
3 жыл бұрын
There was a guy in our neighborhood that sold his home instantly! He said the realtor was literally putting the for sale sign up, someone saw it and pulled up and asked the realtor how much? Once the realtor told him, he said sold and paid cash! The house had only been listed online in less than an hour! Crazy times we’re in that’s for sure
@dmfam3570
3 жыл бұрын
I have been saving for years and went through many hardships but did everything right. Now, I see house prices go up and bidding wars. I feel defeated.
@bible4truth
3 жыл бұрын
Put your money in stable coins and get high interest in DeFI. Then wait for the bubble to pop. Unfortunately, the government will like cause a black swan event to explain away the crash after print inflation. And let’s not get into the plandemic which is already their excuse for consolidation of power for their overlords. It’s a frenzy until it isn’t. People need to wake up.
@Sulfen
3 жыл бұрын
@@bible4truth why would someone listen to someone who says that the Bible is the truth. You just go from one scam to the next. Defi is a scam.
@bible4truth
3 жыл бұрын
@@Sulfen ok. If you say so, then it must be true. DeFI is such a scam that Grayscale is investing in DEFI protocols such as AAVE, SNX built on Ethereum. Maybe, study up before talking and making irrational arguments.
@gordongoodman8342
3 жыл бұрын
@@Sulfen Jesus of Nathereth is the truth.
@bible4truth
3 жыл бұрын
@Soup Can very true. Nothing here is eternal, because death and taxes have not relief.
@justmemadison
3 жыл бұрын
Never sign for an adjustable rate mortgage. Never!!!
@namastemcl
3 жыл бұрын
This is tough because buying now at the top of the market will make building equity impossible. I watched this happen 15 years ago with the last bust and people lost everything.
@Daysleeper1000
3 жыл бұрын
And will happen again. Income taxes will rise to 50 percent to pay back the trillions spent. People aren't factoring losing half their income to taxes. Just watch--there will be foreclosures.
@TheBobagonush
3 жыл бұрын
People don't even realize how lucky they are to get out bid. That means they are getting houses at their MAX loan amount. To get the American Dream, you need to live below your means and get out of the 9-5 rat race. Getting a home for your MAX loan amount will lock you in to your job for the rest of your life.
@jew_world_order
3 жыл бұрын
People love money over their family. I talk to so many people who have to work full time and continue to try to climb the corporate ladder because they need to continue buying things to impress people they don't know. Or they think their kid needs that 3rd or 5th toy or a yuppy education in private school.
@sarahkichikova8713
3 жыл бұрын
Absolutely. People nowadays don’t know how to live life which is very unfortunate. They have kids but someone else raised them.
@amandataebby
3 жыл бұрын
My wildest dream is to be a writer and live in a cabin in the mountains. But realistically, that cabin in the mountains is probably $600k and gaining.
@yadwindersingh7468
3 жыл бұрын
@@amandataebby i live in south lake Tahoe . a 1 bedroom and 1 bath cabin is 350 k . last year before this all started i could have got a 3 bed 2 bath for the same price.
@rachaelwhite8614
3 жыл бұрын
Wow.. your absolutely right! Thanks for your insight..
@justmemadison
3 жыл бұрын
This is something that needs to stop. It's going to be nearly impossible to turn this around once "investors" have consumed all the available properties. It's going to really exasperate the gap between the rich and poor in this country. When people cannot afford to purchase property, most people have no way to gain equity on their money -- not everybody, hardly anybody knows how to invest their money in the market. This is how you force people to put their money into markets they are not interested in and could potentially leave them with nothing when they retire.
@ec6443
3 жыл бұрын
Foreign investors are a huge problem. They are buying up properties with millions of dollars taking away the homes and pushing people out of neighborhoods.
@ninjablack4347
3 жыл бұрын
and who the hell is gonna buy these homes? Its like if you owned a ten billion dollar rock or something, only a few people can afford it
@waynewright2886
3 жыл бұрын
@@ec6443 Sho is.
@dzl8596
3 жыл бұрын
Agree. The investors are the ones with these cash offers and they're having a huge impact. There needs to be a limit on what they can buy.
@AlexRodriguez-lk1jy
3 жыл бұрын
Biden killed the 1031 exchange and now even rich corporations are competing with us to buy single family homes
@gosikh
3 жыл бұрын
The patient folks will get their break. There has to be a bust cycle. There always is.
@2003tommytn
3 жыл бұрын
What goes up, must come down. Waiting for the next short sale.
@lilrog0909
3 жыл бұрын
Democrats always kick the can they won't let the market crash. Besides corporate America wants more mobile workers and the government already knows this. The next movement is cheaper housing building materials
@helenbairaya7461
3 жыл бұрын
@@lilrog0909 trump started propping the market
@theonehaiti
3 жыл бұрын
Correct and the people who are buying now will be upside down on their loans as the values they bought at won't hold..Bubble is going to pop
@Ali-dn9tl
3 жыл бұрын
Hopefully
@wolann31
3 жыл бұрын
The biggest problem is the house flippers. They should be banned from buying houses.
@FOLLOW5ME5DOWN
3 жыл бұрын
Exactly, the limit should be 3 or something
@rynb15
3 жыл бұрын
a lot of times they buy houses for cash, most banks wont lend money on houses that need work to be livable.
@gerardobarron3448
3 жыл бұрын
House flipping has always been a thing.. it does have an effect but honestly its just really low housing inventory
@TheBobagonush
3 жыл бұрын
I don't understand. House Flippers buy houses that need to be renovated not move in ready that most Americans are searching for. If anything I think more flippers are needed as they said no new houses are being made.
@skimask5049
3 жыл бұрын
LOL ok liberal you should be able to buy as many houses as you want and flip them loser.. you sound poor
@jackman2865
3 жыл бұрын
Overprice , debt and Greed.
@konrad1101
3 жыл бұрын
Greed for sure
@vcoonrod
3 жыл бұрын
Move to Ohio. Lots of great homes, pretty decent prices still.
@chosenone1549
3 жыл бұрын
Definitely overpriced but renting is ridiculous too. I was forced to buy a house for rent control. Greed from landlords pushed me into buying a house.
@markoduran8621
3 жыл бұрын
I feel for all of you , & I hope you all find a great home
@stacey281
3 жыл бұрын
It’s very tough but I’m hoping everyone who truly desires having a home will get one.
@davidjames3777
3 жыл бұрын
That was a nice comment.
@nickl8199
3 жыл бұрын
thank you. im looking for a house right now its crazy
@Jdhdbsbsjdnraqowirjfndksjdndj
3 жыл бұрын
I couldn’t compete with all the cash offers in Colorado. I ended up buying a deeded RV/Tiny Home lot. I feel super luck to have found this place. Chateau Chaparral is so beautiful! I’ve been out hiking every day. I seriously never thought I’d live is such place. Wow!
@MY-rl8hu
3 жыл бұрын
@Amy Garrison Wtf are you talking about troll. Stfu and move on with your sorry ass life... POS
@Jdhdbsbsjdnraqowirjfndksjdndj
3 жыл бұрын
@Amy Garrison ummmm what? I’ve shot 7 feature length documentaries for PBS and Netflix. How about you Amy? You have a mean and dark soul.
@hlsot569
3 жыл бұрын
Ya it's beautiful 😻 because Florida it's full 😂
@jew_world_order
3 жыл бұрын
@Amy Garrison Some people don't want to have any part of the rat race with the rest of the yuppies.
@jaclyn864
3 жыл бұрын
How wonderful to find a beautiful home in nature with hiking trails nearby! Congratulations!
@RelaxzMV
3 жыл бұрын
Yall be tripping. When Pandemic is over, everybody will need to go back and commute.
@bootydaddy9934
3 жыл бұрын
ask abc or cbs and they will project a 4th wave in 2030
@dzl8596
3 жыл бұрын
Nope. Companies are saving $$$ by not renting office space. Telework is here to stay.
@puddincup9879
3 жыл бұрын
You’re missing the point
@jamalwilburn228
3 жыл бұрын
It's because people are tired of cities. Covid rates are the worst there and unpunished crime has skyrocketed as politianxe because more relaxed by letting assualters, murders, drug dealers, and rapi*ts out with lighter sentences or not even arresting them anymore. You also have BLM and ANTIFA making cities into warzones the past couple years. So people are tired of it and want to move away from it all where thry can have healthy and safe lives. Most companies have poured so much into long distance work which saves this so much money. This will probably become a norm now as its too expensive to move back
@TOTO_209
3 жыл бұрын
@@dzl8596 yea, construction workers are saving office space also lmao. So are nurses and drs 😂
@amandataebby
3 жыл бұрын
Meanwhile I'm staying single for life, don't work in a high paying career, so I guess I should buy my tent now before those go up in price.
@stephaniejames2415
3 жыл бұрын
I feel like I’m never going to be able to buy. There are hardly no homes in my area in my price range. This “ American dream” is one big lie...you need to be rich in order to live it.
@frankoliver9046
3 жыл бұрын
If you have something saved up you can invest in another viable investment like cryptocurrency, make your profits more than double in less than a month and achieve your dreams ...don’t give up
@frankoliver9046
3 жыл бұрын
Exactly what I did with help from an expert and now I own a own
@frankoliver9046
3 жыл бұрын
MichellestewartFx
@frankoliver9046
3 жыл бұрын
☝🏻my experts gmail....you will be guided
@Twix312
3 жыл бұрын
American DREAM CUZ U GOTTA BE ASLEEP 2 BELIEVE IT💯💯
@reubenmorris487
3 жыл бұрын
Living nightmare.
@ShanePodClips
3 жыл бұрын
Omg! Mind blownnnn. Lol that's so true
@FromMikaWithLove
3 жыл бұрын
Facts asf
@williamwebster8367
3 жыл бұрын
-George Carlin
@TheBobagonush
3 жыл бұрын
People don't even realize how lucky they are to get out bid. That means they are getting houses at their MAX loan amount. To get the American Dream, you need to live below your means and get out of the 9-5 rat race.
@powerralley
3 жыл бұрын
Wouldn't it be ironic if there was a mass exodus to Mexico for a cheaper cost of living?
@kiturselassie813
3 жыл бұрын
Were you the guy in a red maga hat in trumps campain in Oklahoma 2016 shouting "build the wall"? Now jump over the dang wall n be an illegal in mexico
@TOTO_209
3 жыл бұрын
There is already in some beach towns in Mexico.
@jjuanmarin
3 жыл бұрын
@` ́ ` ́ by your logic all 120 million mexicans hate it
@TOTO_209
3 жыл бұрын
@oroincorporated hell na, yea there some that are that price but not the majority.
@TOTO_209
3 жыл бұрын
@oroincorporated I know there’s places in Mexico that are better or the same level than anywhere I’ve went in the USA, just search up andares in Guadalajara. But honestly, 85% of that population in Mexico that is wealthy are drug lords or crooked politicians lol.
@Refresh2b
3 жыл бұрын
Homes are sitting empty and have become holdings in international conglomerate portfolios. Artificially driving up prices. Hot market is code for higher prices.
@mrmustangman
3 жыл бұрын
bubble.......
@matt33876
3 жыл бұрын
Not sure empty homes your speaking of. Cause where I live, everything is packed.
@Refresh2b
3 жыл бұрын
@@matt33876 sure it is
@robbase6188
3 жыл бұрын
I think it's funny some random black guy like me knows the main problem they left out is foreign and private investors buying up neighborhoods "cash" only to rent and control the community 🤦🏾♂️
@Beatrizzzle
3 жыл бұрын
That’s definitely the case in Los Angeles, smh
@jem5812
3 жыл бұрын
Brother you are so right
@marvelousjoe
3 жыл бұрын
Don't forget Mark Zuckerberg and Bill Gates is buying hundreds of acres of land. China is also making a sweep to land out here
@robbase6188
3 жыл бұрын
@@Beatrizzzle I'm in Kansas city and on average 30-50 thousand over asking, no inspection, and cash buyers are everywhere! No way I'm going to believe it's just a bunch of rich millennials 😒
@jem5812
3 жыл бұрын
@@robbase6188 I wonder why the media isn’t mentioning that part?
@Shonnie1122
3 жыл бұрын
Corporations, big companies are buying up these homes. It’s not just other ppl. it’s big businesses buying regular properties driving the housing market up it’s weird and it needs to be talked about.
@BIGPAUL310
3 жыл бұрын
We will see more RVs moving into your neighborhood soon
@barryingram9846
3 жыл бұрын
Like the first couple I live in the Bay Area too (San Jose). My neighbors across the street from me recently sold their house. They were asking $1.25 million and got $1.6 million after receiving 32 offers. They told me the buyer put in an escalation clause to ensure the winning bid. This is a 1500 sf home in a nice but not exclusive neighborhood. It’s so crazy here I’ve had realtors call my home and knock on my door offering their services if I want to sell.
@ninjablack4347
3 жыл бұрын
this is not sustainable. These are average middle class homes not mansions are homes sitting on a beach in a gated community with palm trees
@rondanew9916
3 жыл бұрын
I've got a city block in Portland Oregon with two 4 bedrooms and 2 bath's each one has a huge grand room and new kitchen. Both built in the 1930s. I'm wanting to downsize but where would I go. We get calls from buyer's all the time. They tell me that they could put 7 more homes on the lot.
@caydenthompson126
3 жыл бұрын
@@rondanew9916 I live in Tigard. Good time to sell
@Burnlit1337
3 жыл бұрын
My family was lucky, as the seller of our new home wanted to sell it to a family, instead of house flippers or renters who offers were tens of thousands more than our offer; some in cash according to out agent. God bless that seller because he was willing to loss a lot of money to sell his home to us.
@roxycauldwell544
3 жыл бұрын
I'm flipping my trailer and I'm going to rent it out to get back what I put into it and then go through people my age online first so at least someone from my generation will have a chance
@karenhardie1132
3 жыл бұрын
Supply and demand, low inventory and high lumber prices. People are coming in with all cash offers from other places. Houses are going for way over asking with 20 offers the first day.
@mattg7952
3 жыл бұрын
@Coolio Getting ready to sell a house and been watching local market. Every house listed in last 3 months sold for at least 5% over list and closed within 30 days.
@momentary_
3 жыл бұрын
@Crater Tube At least it keeps property tax down. You can always ask way above appraisal, but you can't ask for a lower tax.
@momentary_
3 жыл бұрын
@Crater Tube I would hope a savvy person would examine the market first before setting a price on his property instead of blindly listening to an appraiser.
@eekman9823
3 жыл бұрын
The Zillow economist gentleman just said appreciation for the next few years... > Higher prices ahead
@MurphyBlitz
3 жыл бұрын
Currently a first time home buyer trying to find our dream home in this market. We know it won’t happen. Multiple offers are going for “highest and best” and first time home owners don’t have it. :( wish us luck
@MurphyBlitz
3 жыл бұрын
Update :We are under contract!!!!! I feel like I won the lottery! Best feeling ever! It’s not impossible!!
@silentthawk
3 жыл бұрын
@@MurphyBlitz Is there anything you did differently from your other offers? Congratulations!!!!
@laurarox80
3 жыл бұрын
Me too, but I'm single so I only have one income. Just lost on one I really loved today. I'm glad to hear you found something!
@MurphyBlitz
3 жыл бұрын
@@silentthawk we wrote a letter to the seller. And offered a little more over their asking price, waved inspection and we offered to pay our own closing costs.
@sarahhollister150
3 жыл бұрын
I work in a huge retirement community in the preowned sales department and I see sales reps come in putting in a listing and telling me that they already have a buyer on that listing. It is insane
@KevinP32270
3 жыл бұрын
WOW.
@justin-kurtgurel6829
3 жыл бұрын
Is it true?
@sarahhollister150
3 жыл бұрын
@@justin-kurtgurel6829 it’s definitely true. There have been a couple instances where I have done the listing one day and by the next there’s a signed contract. We have about 15 closings per day
@justin-kurtgurel6829
3 жыл бұрын
@@sarahhollister150 who is buying? do they not care about the price of the market at the moment cant they just wait and save till its cheaper?
@sarahhollister150
3 жыл бұрын
@@justin-kurtgurel6829 It is 55 years and older community so it’s people who are either retired or on the verge of it. It’s also located in Florida where the cost of living is less expensive than in many states such as Connecticut or New Jersey. Even though the prices of the houses might be more expensive, the cost of waiting may outweigh the extra expense of the house in this market. I’m sure there are a lot of factors that go into it. The other aspect of it too is that the retirement community practically has pricing down to a science so all of the homes that are up for sale are priced where they should be. As a contract processor i don’t process many change forms to lower the cost of a home. When I process a contract the asking price for the home is usually right around what the sale price ended up being. All that being said I’m not really an expert I’m only a processor but I have a pretty good idea of what goes on.
@danielsemmens6640
3 жыл бұрын
Why the he did they pick the Bay Area one of the most craziest places in the world to buy a home
@cookies4582
3 жыл бұрын
That's why I won't be buying my first home until 2023 they won't get me with these high prices in this seller's market.
@kyoung5600
3 жыл бұрын
Yes, there are many more real estate agents than homes for sale, inventory is way too low and it's overwhelming.
@cameronperry8446
3 жыл бұрын
Come to Utah it’s the housing apocalypse here. My wife and I bought a home a year and a half ago for 320k. We just had a neighbor sell a smaller home than ours with no real upgrades for 550k. I’ve gotten several calls from real estate agents (no idea how they got my number) asking if we’re looking to sell our house. Man do I feel lucky to have gotten in before all this crap.
@jf5065
3 жыл бұрын
Utah hell noooooooooo I don't mind to overpaying on the west or east coast but Utah cmon lol
@aba1791
3 жыл бұрын
@@jf5065 What's wrong with Utah other than MORMONS? 😂
@age_of_reason
3 жыл бұрын
There is so much space in Utah. I wouldn't pay more than $50k for a house in that state.
@cristianherazo1952
3 жыл бұрын
@@age_of_reason 😂😂
@aliciagoldsby1039
3 жыл бұрын
Soooo were people not REALLY struggling? I used my stimulus to pay bills, how are other ppl suddenly flush with cash? I thought everybody was having a hard time, but I guess only SOME of us are having tough time 🙄
@aprilg3299
3 жыл бұрын
Yeah and people buying houses at over inflated prices are going to find themselves upside down if they have a loan. Scarcity drive up demand. I was think of selling cuz I wanted a newer home. I think I will just remodel what I have ans wait .
@mattg7952
3 жыл бұрын
The bubble is going to burst eventually. I drove through a lot of empty neighborhoods back in 2009 where almost every house had been foreclosed on. Getting ready to sell my grandpas house soon. The market in his neighborhood is really strong. We put about 3k into updates and it's going to net over 60k in sale.
@ninjablack4347
3 жыл бұрын
my stupid ass family doesn't see this! I told my parents and they said to shut up because i'm just a kid who doesn't know about money and home ownership
@TIUlove
3 жыл бұрын
But it’s not a bubble. It’s a supply shortage that will take 10-12 years to make up.
@ninjablack4347
3 жыл бұрын
@@TIUlove exactly. The real esate crisis in 2008 was because of sub prime loans. Here its simply supply and demand
@mikefigures5075
3 жыл бұрын
Exactly. This is a whole different animal. Even though people are buying overvalued properties... they have the means to absorb it.
@FOLLOW5ME5DOWN
3 жыл бұрын
When the houses are finally built they are going to be brand new... and EXPENSIVE, and the competition will still be there🤯 that’s crazy
@happydays199
3 жыл бұрын
:(
@Sulfen
3 жыл бұрын
Its gonna be like 2008 all over again. Prices will tank and some people will stop paying and a lot of people may lose their jobs and cause the market to crash.
@theshield1613
3 жыл бұрын
@@Sulfen the crash will happen 100%.
@josepharanda5920
3 жыл бұрын
@@Sulfen honestly I don't think so. The reason the 2008 crash happened is that people were taking out loans that they couldn't afford. The people buying houses today can actually afford them and alot are cash buyers. I don't really see it happening.
@aboutbusiness9879
3 жыл бұрын
New construction prices have been ridiculous over the last few years. Even with these bidding wars, buying existing homes are still the better bargain even if you gotta put some money into them.
@jasonx409able
3 жыл бұрын
I did a bidding war last year, i gave up after putting in too many offers. I went with new construction build. Best decision of my life..
@silverioramirez9019
3 жыл бұрын
Same here. We close in 12 days
@infini.tesimo
3 жыл бұрын
Yah but now, how long are you going to have to wait for that thing to be built? 2 years?
@aboutbusiness9879
3 жыл бұрын
And I bet you will end up paying alot môre for the new build, but on the other hand a new build is easier and cheaper to move into.
@roxycauldwell544
3 жыл бұрын
New builds are steadily becoming cheaper than 30 year old houses
@aboutbusiness9879
3 жыл бұрын
@@roxycauldwell544 Not in my area. You will pay between $50 to $100k upward more than an existing similar home of the same damn size.
@Serial32
3 жыл бұрын
Lots of city people live in apartments and high rises in cities and are leaving... Imagine a highrise with 20 apartments and all 20 families now want houses. You can't just find 20 houses, they don't exist. Now lumber has gone up almost 30% so you can't even build one on raw land for same price. I've been saving for a house for years, finally have enough and the goal post gets moved. Good luck... apartment, double wide, or fifth wheel is where most of you reading this will end up.
@waynewright2886
3 жыл бұрын
&... thats why Apartment Rents have gone up because of the Housing Situation, Plus Corporate Greed, here in the L.A. Area its Bad & will be Real Bad when L.A. Host the 28 Olympics & Empty Apartments will be Used for Air B&B's, leaving Regular Apartment Renters on the Street, or Priced Out because of the 28 Olympics.
@finanzasenfamilia1946
3 жыл бұрын
We are in a housing bubble...fall 2021 shall be interesting
@takeoff_ltn4293
3 жыл бұрын
There was an open house by me today. Had cars lined all the way down the street.
@eekman9823
3 жыл бұрын
@Ken Richard when it ends it will be after many have $500K in equity. Then it begins again, it always does.
@samanthab1923
3 жыл бұрын
They're only a year late
@mattg7952
3 жыл бұрын
Had a house sell across the street 3 months ago. 27 offers in 7 days. People waiting in line to view the house.
@Tomi_janet15
3 жыл бұрын
That's mental!!!
@Tomi_janet15
3 жыл бұрын
@@mattg7952 😲😯😮
@mattman6458
3 жыл бұрын
So glad I was able to buy my first house and close on it last September with an fha loan with 2.3% April. Now now its already gone up 20k in value in over 8 months
@JocelyneMogwoWandiofficial
3 жыл бұрын
We have been thru that. Can’t bit, houses are too expensive
@mww59
3 жыл бұрын
All I want is to own land. But because I don't have hundreds of thousands of dollars in cash, I'm afraid I'll never be able to. I was searching all last year and I am completely priced out
@jessiecats2996
3 жыл бұрын
Same here. How about another state? Three states next to mine are 1/2 to 3 times cheaper too.
@mww59
3 жыл бұрын
@@jessiecats2996 It's an idea, but my boyfriend works for the state and it would be difficult for him to leave his job and state retirement plan
@lt2547
3 жыл бұрын
The road within a mile to our property is a gravel road. We almost didn’t buy it, but after being here 3 months I know I’m blessed. Deer, squirrels, hummingbirds, wild turkey. Zombie proof! We maxed out our budget, but got so much in return! The sellers divorced and had to sell. Mr. Seller said I hit the lottery on this property. I couldn’t appreciate what he meant until we started living here. It’s like I’m in heaven. My father visited, and arrived in the dark. He kind of freaked out about the road, but when he woke up he totally understood our choice. He didn’t want to leave, and only said that very few people experience what we have here. Yup, so true! We have 10 acres, and currently using about 2 acres! We have so many ideas and plans. Building the dream orchard for our 20+ fruit trees now. It will have a water feature and sitting area. It’s also a wild bird sanctuary. I admire all the beauties with my binoculars.
@mww59
3 жыл бұрын
@@lt2547 That sounds absolutely AMAZING! Congratulations on your amazing home! I always joke that my home has to be zombie proof. Ya have to be prepared lolz
@vickiwooley3088
3 жыл бұрын
here where i live az people from ca are buying all the houses and raising rents double causing many locals to become homeless
@samanthab1923
3 жыл бұрын
That's what's going on in Austin.
@mattg7952
3 жыл бұрын
Where I rented in Tucson an investment company bought the property and kicked everyone out and raised the rent by 300$ a month.
@weaslebronco2867
3 жыл бұрын
American greed is what its called !
@adilenesanchez5715
3 жыл бұрын
Seriously same, I signed a lease for 2b2b apartment 1230 a month back in early March and now that same apartment is going for 1600+ it’s insane if I would have waited to sign my lease I could no longer afford to live there.
@ileanaaa
3 жыл бұрын
@@adilenesanchez5715 that’s crazy a 2b here in LA is min 2,600 it’s insane Z
@redcapitalist
3 жыл бұрын
nice try diverting attention from the fact that US$10 trillion "stimulus" and counting has been given to the banks, funds and corporation to buy up these assets. lmao
@dls951
3 жыл бұрын
you're a moron.
@yededebdonkorotube2227
3 жыл бұрын
prove it
@wadiralhyan649
3 жыл бұрын
landlord can raise and do whatever because he knew housing market is very high.
@bullyhomestead7232
3 жыл бұрын
We bought a house two years ago once we saw how much our value went up we listed and bought in an area we really love. We were able to buy new construction but the waitlist was literally HUNDREDS of people.
@hassankhan
3 жыл бұрын
Did you bought and sold at the same time? How does that work with all this uncertainty?
@bullyhomestead7232
3 жыл бұрын
@@hassankhan we did a rent back. I was worried but we were able to find a new construction and luckily someone dropped out so I was able to snag the house I wanted and it will be complete in about 40 days. Our buyers agreed to wait on closing escrow and then we will 'rent" the house from them till we move. Our realtor was extremely helpful. I'm in Southern California so the market is definitely hot and my home is a gem in the ghetto which is why I sold so quick
@hassankhan
3 жыл бұрын
@@bullyhomestead7232 Thanks for the reply. I am in the same boat as you are and wanting to transition out, but this seems like a hassle, I think I'll just stay at my current home and maybe invest the cash in cryptocurrency for some day to buy a bigger house in future.
@bullyhomestead7232
3 жыл бұрын
@@hassankhan the housing market is definitely going to drop so we wanted to sell before that happened even if it meant buying at a little higher cost. We were able to purchase with va and no money down so we are only making money off the sale which is why its feasible for us. Though, I know most people don't have that option. Stay safe!!
@BayBrimsta
3 жыл бұрын
Average cost of a home in Cali is over Half a million dollars. Can the prices go any higher than they are? This is insane...
@slayden633
3 жыл бұрын
Bought right before the pandemic for 850k just got it appraised this week as I was curious and just crossed over the million mark, and actually had offers at that. I wouldn’t dare sell but yes people got the cash for it
@slayden633
3 жыл бұрын
@Coolio Seattle is actually up over 20% year over year so yes I am sure
@jiamingchen3438
3 жыл бұрын
Not insane at all... most home buyers in silicone valley can make half a million a year.
@slayden633
3 жыл бұрын
@Coolio actually it’s not, and 120k has been considered low income. I have no idea where you keep this information from
@slayden633
3 жыл бұрын
@Coolio there you go.....taking rising prices personally.
@1timeslime971
3 жыл бұрын
The same that happened in 2007/08...due to over inflated prices, people were financing their down payments at time of purchase. Jumbo loans, and adjustable rate mtgs etc. I. Bought my house in 2016 for $579,000 & could sell it now for 800/850,000. Whoever pays or rather finances THAT amount today will only end up in paying 200g’s too much.
@theshield1613
3 жыл бұрын
Lehman brothers caused the recession 2008
@slumbermaster6932
3 жыл бұрын
Everyone selling their homes right now are going to be struggling to find a rental to sit out until prices go down. With demand outpacing even the rental supply, expect rent to shoot up.
@bigmurff6439
3 жыл бұрын
Saw the other day on the news a brand new 3 BR town home in the silicon valley minimum bid was $1.2M, sold same day well above that figure! Town home was just one out of 19 available units, all 19 sold within 1-2 days. It's really crazy, what will happen once interest rates go back up and supply begins to rebound or even exceed demand? 2008 all over again.
@jamalwilburn228
3 жыл бұрын
That's the Silocon Valley. California has the most ridiculous and high expenses an in the entire country. Funny coming from a place where tolerance and care for the poor is so highly preached 😆🤣
@kiturselassie813
3 жыл бұрын
Then better not take a loan to finamce a house that you cant afford
@Boner_Champ69
3 жыл бұрын
I’m in the Portland area. My house value went from $235k to $580k in 2 years. Bought the house for $225k so my equity is huge.
@MrThe1234guy
3 жыл бұрын
Yes but the price of everything is going up so your equity isn't what it use to be.
@andrewklein7997
3 жыл бұрын
@@MrThe1234guy that guy is in the green quite a bit
@caydenthompson126
3 жыл бұрын
Where at in Portland area?
@melissabryan3043
3 жыл бұрын
People never learn!!! There will be another crash like 2008!!! I lost my job and my house because of the crash and unemployed for 3 years after competing for jobs with thousands of other people...ridiculous!!😡😡
@michaelwachendorf2096
3 жыл бұрын
Sorry for your hardship. Wish you well
@cyclops9125
3 жыл бұрын
Good for u
@vanillawafer1182
3 жыл бұрын
How did you lose your job as a result? Sorry I legitimately don't understand, and I want to
@oc5515
3 жыл бұрын
I also lost my home. Buy a van and park it down by your local river.
@cyna1103
3 жыл бұрын
I don’t think there will be a crash. People have so much money it’s ridiculous
@Egy167
3 жыл бұрын
I'm in Florida and been house hunting my self and been out bidded 9 times including 3 new constructions
@MrJames1471
3 жыл бұрын
R.I.P California homebuyers.
@SunaGirl55
3 жыл бұрын
I’m visually impaired and have set my heart on buying a home in an area where I can at least have a bust stop and stores at walking distance and unfortunately I can’t even come close to competing with others. Everytime I find something, I get out bid. Even for a 2 bed 1 bath people are shelling out almost 400,000 dollars.
@donkiko6708
3 жыл бұрын
Since people love throwing money away Might as well buy a 2001 Honda Accord for 10 thousand dollars too.
@asianangel5400
3 жыл бұрын
Timy house and RV living may be the new way to go. Even then there's many restrictions in several states for both types of choices.
@amandataebby
3 жыл бұрын
I saw tiny homes in Washington state going for $400k which is absurd and makes no sense. A nice one can be built for around $40k, right?
@Mazxlol
3 жыл бұрын
The problem is people buying multiple homes and renting it out. Even worse, corporations doing it in a massive scale. Also non US people able to buy... like it should be illegal for people in China to buy American real estate (and vise versa)
@andrewshevchuk2062
3 жыл бұрын
It's about to get a lot worse, Biden's new Tax Cut bill is forcing Real Estate investors to buy Single family homes versus apartments.
@TheBohodiva
3 жыл бұрын
So thankful that I was able to get a home when I did. Paid the lost price and locked in the low interest rates on a new construction in Hyde Park last fall.
@top_mf_n_here1806
3 жыл бұрын
So glad I bought 4 years ago. Only thing runs through my mind is possibly selling to make that quick cash.
@qtcarmen7d896
3 жыл бұрын
Yes and buying in this market is a nightmare
@jtt1928
3 жыл бұрын
Same here...bought in 2017. Don’t sell! Hold tight 😉
@pearlperlitavenegas2023
3 жыл бұрын
Yeah me too bought in 2017 staying put a bit longer then cashing out & leaving the 🇺🇲
@SourBogBubble
3 жыл бұрын
And here i thought it was Billionaires buying up inventory from those that lost it during the pandemic.
@TaviBadr
3 жыл бұрын
At 26 years old, I bought my home at the end of 2017. Here’s a tip: stop looking in over-crowded areas. Be willing to relocate to smaller cities or even a different state. What you want is probably the same as another 50 or so people within your area. Chicago, LA, SF, NYC, all of those metro areas are always going to be expensive.
@katerinesantana6060
3 жыл бұрын
those tips are no longer viable in today's market.
@amandataebby
3 жыл бұрын
Sadly that's not true anymore because what you just said is being said by many people. That secret has been long exposed. I grew up in rural PA, in a small town (don't live there now) but I sometimes look at their real estate to see what's happening. I saw a run down house get flipped and sold for almost $200k -- mind you this is an area with no jobs other than low paying service and labor. No one there would ever buy a home for $200k. These are outside investors.
@bohemianchic638
3 жыл бұрын
Exactly if you want to live middle class in a big nice home move away from the big cities.
@1mropz1
3 жыл бұрын
Wow, listening to these buyers reminds me of 2006, except for the fact that prices have exceeded that bubble.
@flz9231
3 жыл бұрын
So is it a good time to sell or should I wait ?
@jasond.healerlynch5255
3 жыл бұрын
Hard to say, but I'd imagine selling now thru the next 18-24 months
@redsparrow1825
3 жыл бұрын
@ F LZ Great Time to Sell just make sure you have & know where your going. B/c if you are selling to then go and buy, depending on your market you will be in the same boat as the rest of the buyers searching and may face similar difficulties.
@dflehrman1
3 жыл бұрын
2019: "MiLLeNiALs aReNt BuYiNg HoMeS" 2021: Ugh, too many Millenials want to buy homes! Sorry, we're fresh out.
@seanhazelwood3311
3 жыл бұрын
In a couple of years, when this all blows over, the house you just paid $300k for will only be worth $225k; which is what it was truly worth to begin with.
@thanhleusacuocsongmy8168
3 жыл бұрын
LOL not a chance, more like $400k . you really think the govt will let another housing crisis occur?
@seanhazelwood3311
3 жыл бұрын
@@thanhleusacuocsongmy8168 The government (Clinton) Caused the last one with the Community Investment Act, which allowed people with shitty credit to borrow as much as 125% of a homes value to buy a house they couldn't even afford to rent. What makes you think Uncle Sam won't do something else just as stupid, or worse?
@KYLOWW
3 жыл бұрын
I’m a very minimal person and I prefer a small condo and Im very happy with it can’t complain.
@matt33876
3 жыл бұрын
We put in about 6 bids on homes. We got lucky on our 7th and bought under list price by $15K. We were certainly blessed by GOD to get this home. We closed this passed Tuesday after 50+ days.
@merrymaurader2521
3 жыл бұрын
Robert Kiyosaki: “ 🤣🤣🤣 it’s still a liability “
@movingman07
3 жыл бұрын
🤣🤣🤣👍🏾
@mrchikago4420
3 жыл бұрын
Yup lol
@lucybrunson2216
3 жыл бұрын
THE FORECLOSURES HAVEN'T REACHED HERE
@bigvalley4987
3 жыл бұрын
Very true, that will be the unfortunate “proverbial housing burst”.
@davidgolf3245
3 жыл бұрын
Elizabeth, congrats on the promotion from CNBC to ABC news, well done. You rock!!!!!
@d.lamborghini270
3 жыл бұрын
Born and raised in the Bay Area... A few years ago, When I bought my 1st home here, I lost 53 times in a row dealing with snobby owners and agents, won on my 54th try, sold my home for a record and was still behind going on my 2nd, which took me 23 times to win... -.-
@Christina-ds7qk
3 жыл бұрын
My friend sold their house for 25k over asking. 14 offers when listed for just 3 days. It's INSANNNNEEEEE
@Christina-ds7qk
3 жыл бұрын
@Coolio I have multiple coworkers who are being outbid by thousands of dollars and 15 other buyers. It's happening everywhere , esp in these southern states where everyone wants to move.
@ManofSteel216OC
3 жыл бұрын
It's corporations buying these homes. Who has 25k over the asking price for a 🏠??
@Fiyero8813
3 жыл бұрын
Southern California. We put an offer for a house and it ended up getting 44 other offers. Sold for all-cash and over asking price. It’s a crazy time indeed.
@e4t662
3 жыл бұрын
Brings a whole new meaning to the term "white flight".
@samuelleach6884
3 жыл бұрын
I know this has no bearing with this video but Investing in crypto and forex now should be in every wise individuals list, in some months time you'll be ecstatic with the decision you make today.
@noahkagan4067
3 жыл бұрын
Most intelligent words I've heard today. Crypto is the new gold.
@joshtaylor1938
3 жыл бұрын
I wanted to trade crypto but got discouraged by the fluctuation in price.
@samuelleach6884
3 жыл бұрын
That won't bother you if you trade with a professional. I'll recommend Heather maxwell investment, they are really reliable and profitability is high.
@ralphkohler837
3 жыл бұрын
During my little holiday in the UK, I really heard a lot about Heather maxwell investment. But couldn't get in contact with them.
@clearvaluetax1209
3 жыл бұрын
MS Maxwell has been managing my trade for months and I keep making profits every week. I made $7,130 last week.
@willdavids7075
3 жыл бұрын
Going to be interesting times to see the bubble bust.
@smokinace926
3 жыл бұрын
There’s no bubble. It’s just a shortage of homes. There are more 1st time home buyers than sellers. Meaning the 1st time homebuyers aren’t contributing to the supply. They are buying without originally selling a home.
@galupproperties3098
3 жыл бұрын
@@smokinace926 hopefully sometime in the next year or so we will see a return to normal. Lumber prices being inflated due to the pandemic isn’t helping. I’m paying off my first rental next month and will just be piling cash to buy a duplex sometime in the next 2-3 years.
@mackeejack6731
3 жыл бұрын
@@smokinace926 yea yeah. I see multiple houses up for sale in my neighborhood alone. Wait til covid blows over and ybe market floods
@annaire8491
3 жыл бұрын
I'm not overbidding on a home especially when many of these sellers can't even afford the homes their damn selves. they're in mortgage forbearance. they should've never included mortgage forbearance in the cares act. now all these sellers who were begging for help are taking advantage of the buyers. i'll hold out
@DanielGarcia-zz9eg
3 жыл бұрын
And just imagine how much this is going to impact property taxes for next year 2022. Probably extra 800 to 2000 on top of what we already pay and nothing can stop District appraisal from raising it. Costing already home owners more money
@oinkpiggin
3 жыл бұрын
An important factor : Location. Nobody is buying homes in Detroit versus it is a hot mess in SF, LA, NYC
@PimplyPig
3 жыл бұрын
I love my grandparents dearly, but always getting outbid over and over for my first home really hurts and the scarcity of homes becoming available that are in my budget is even worse, hope this will get better as soon as possible.
@Yandel21ableify
3 жыл бұрын
Why pay rent or mortgage when you can live on a Van for free.
@gissellerodarte3076
3 жыл бұрын
Everyone is getting carried away by emotion. Fear mongering at its finest. "The last shall be first and the first last."
@ciaojeffitalia
3 жыл бұрын
I'll wait for the next crash. Just like the last one. Bought 3 house in 2012 and sold 2 at a profit. Living in the 3rd.
@Hey_its_Koda
3 жыл бұрын
Price of lumber is skyrocketing. The average price of new home will shoot up 24k dollars.
@daniel14871
3 жыл бұрын
Good time to become a lumberjack
@brycekeeney4995
3 жыл бұрын
I got lucky, Homes here in my area of CA are going 3 and 4 times as much than 10 years ago. My land lord wanted to sell and sold it to me for just what they had remaining on their loan. It was much much lower than market value. I could not have purchased I feel ever, if this blessing hadn't occured.
@KevinP32270
3 жыл бұрын
that's only in certain subdivisions. lots of new houses in sunnyside area of houston and they are on the market for months.
@ron3815
3 жыл бұрын
Houston..haha. No thanks.
@salehkarsou8724
3 жыл бұрын
Where exactly in Houston?
@KevinP32270
3 жыл бұрын
@@salehkarsou8724 south of 610 east of Scott street. on the south side.
@KevinP32270
3 жыл бұрын
@@ron3815 that's my point. it's not all markets.
@ivonnebarrientos4685
3 жыл бұрын
I’m so glad I bought 3 years ago. Much cheaper especially here in Southern California suburbs the prices have doubled since then.
@ivonnebarrientos4685
3 жыл бұрын
@Coolio I don’t live in La
@ivonnebarrientos4685
3 жыл бұрын
@Coolio well just letting you know! I’m very sure since you commented on my post to begin with. 🖕🏻
@ivonnebarrientos4685
3 жыл бұрын
@Coolio It’s not personal! The Us is in a housing shortage and has been for years. Prices elevated even more because of the pandemic. Will some loose their homes because of the pandemic yes unfortunately. They have the option to sell high or put it on the back of the mortgage. Even have 40 years to pay. If the market fails investors will scoop up as many properties as they can and raise the rents even higher. I’m not worried. You sound salty. Hey maybe be ready for the market to fail so you can get your foot in the door. Never a better year to purchase with the aid Biden is proposing anyway.
@ivonnebarrientos4685
3 жыл бұрын
@Cooliolol be gone troll.
@ivonnebarrientos4685
3 жыл бұрын
@Coolio You don’t know me or my life. I’m done responding to you troll
@kims3797
3 жыл бұрын
Locked in my price on my home with a builder in December at $311990. Now it’s starting at $340,000 due to supply shortages. I was not about get involved in a bidding war with these raggedy ass houses. Texas use to be affordable now it’s a hot mess with all the demand. I see so many locals moving further and further away due to cost.
@aboutbusiness9879
3 жыл бұрын
I feel you, but where I'm at new construction is a hell of alot more than existing homes and the build them quick with bad craftsmanship depending on the builder.
@kyuremcjn8406
3 жыл бұрын
I am just glad that I am saving up money and renting for the moment, and get a home build in Australia 🇦🇺 to live the dream over there 😌
@thewatlingtons6047
3 жыл бұрын
I am so feeling this. I have been making offers after getting approved by my bank. People are making CASH offers WAY over the asking price here in NC. I'll just wait it out here in NC. Thank GOD I have a roof over my head.
@sticky456
3 жыл бұрын
Bought my home back in July... closed in 45 days! Jumped in early!!!!
@Sandy33569
3 жыл бұрын
I feel lucky to be able to rent the home I’m in (and it’s not owned by a corporation).. can’t afford to buy a house at the moment and DEFINITELY not right now with house prices being way out of reach for us..
@BayBrimsta
3 жыл бұрын
CAREFUL landlord might get greedy and sale the house your in. Happened to us and you cant blame them.
@d.v.592
3 жыл бұрын
@@BayBrimsta Exactly. Anyone renting is not safe. Stay ready with money and good credit.
@Sandy33569
3 жыл бұрын
@@BayBrimsta That is something that’s crossed my mind, especially when our lease was about to end earlier this month. I was relieved that we could sign on to another year but I’d be lying if I said I’m not going to worry about it for next April. 😅 I do wish we could afford to buy a house and I have plenty saved up for a down payment, but as a couple with my significant other right now, we wouldn’t be able to afford a decent house around here at the moment along with maintenance costs, etc we’d have to consider with it. I lost my job a year ago due to COVID so that set us back by a lot.
@troygills
3 жыл бұрын
“Taking care of our BAAAABY is a job . “ 🤮🤮🤮🤮🤮🤮🤮
@RVSD1984
3 жыл бұрын
That’s what I was wondering?
@levellelinadaniels
3 жыл бұрын
#SICKNESS💯💯💯 Thanks4sharing 🥺🥺🥺
@1985nsan
3 жыл бұрын
In my area 10 years ago you could get a house on 10 acres for 150k!! Same house now is around 250k..It's definitely a sellers market!!
@GO-cz7cl
3 жыл бұрын
250k homes are more like 400k. It's insane!
@derekdew24
3 жыл бұрын
Just bought my first home, and put in a total of 3 offers and I won 2 of those on the same day and had to choose 😳 Lucked out big time.
@Qwonk
3 жыл бұрын
@Coolio Forreal. Probably won't be able to afford it in a few years. Hope I'm wrong. I know that's gonna be the case for a lot of people.
@aboutbusiness9879
3 жыл бұрын
Did mom or grandma strap you with a huge down payment to go in on your offers young man?
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