Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid economy crisis, and even pull it off easily in favorable conditions. Unequivocally, the collapse is getting somebody somewhere rich.
@FrankEword0v
Ай бұрын
I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or market condition, but such execution are usually carried out by investment experts with experience since the 08' crash.
@DeborahJennifer1v
Ай бұрын
The issue is people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt. Ideally, advisors are reps for investing jobs, and at first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.
@Josephtimothyq5
Ай бұрын
i'm blown away! mind sharing more info please? i am a young adult living in Miami where i've encountered several millionaires, and my goal is to become one as well.
@DeborahJennifer1v
Ай бұрын
NICOLE ANASTASIA PLUMLEE' is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
@Josephtimothyq5
Ай бұрын
I just curiously searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you
@jupitereye4322
Ай бұрын
Even if we had a 2% interest rate on a variable rate, or 2.5-3% on the fixed rate, today as it was a few years back, it would still not be equal to the state of the market a few years back. Salaries haven't risen but the inflation ate up the purchasing power as groceries, energy, and many services went up. So even if rates were as low as in 2017, nothing in the economy is the same as in 2017. Lower rates will help, but not enough to make the affordability manifest, not in the next few years at least. Salaries have to catch up, this will take 5-7 years probably. I personally think we are looking at a similar scenario to 2008. People don't remember maybe, but the Canadian real estate market exploded in 2016, before that real estate practically stagnated for 7-8 years.
@nunyabusiness7927
Ай бұрын
Builders and mortgage companies are getting creative. My company's current incentive is $15,000 for the buyer to use towards closing costs and/or rate buy-down. Just last week, I had a buyer that got a 4.9% rate AND paid all his closing costs with free money from the builder. The mortgage company also kicked in $2.500 in closing costs.
@frankmc2602
Ай бұрын
To my understanding the 4.9% rate is a buy-down that is really an adjustable rate mortgage. The interest rate will increase each year to the current rate of ~6.5% over (usually) five years.
@Dee0426
Ай бұрын
I just closed on a house. First time homebuyer. 635k paid listing price 5.2 @ 30/yr fixed. House appraised for 645k. Seller paid all closing costs and real estate commissions. The mortgage after taxes and insurance is 30% of our take home income so we’re happy. We can also REFI for close to no cost in 210 days
@kimmourino3051
Ай бұрын
what lender did you use?
@artoriasoftheabyss1575
Ай бұрын
Downpayment?
@Dee0426
28 күн бұрын
@@kimmourino3051 veterans united
@Dee0426
28 күн бұрын
@@artoriasoftheabyss1575 0 down. But because of my benefits I don’t have to pay PMI. I still saved up about 60k before moving to cover furniture, needed repairs and have a fully funded emergency fund
@binki611
Ай бұрын
Home mortgage rates are not tied to the fed rates but tend to correlate over time.
@alexhardee5746
28 күн бұрын
Love this dynamic duo! Jen hit it right on the head- there is a LOT of money out there!
@Unapologetic511
Ай бұрын
Housing prices must come down ALOT.
@estuardo2985
Ай бұрын
Yeah, I see prices go down slightly like 2-3 percent and I see them as needing to go down 20 percent for them to be affordable.
@Houstonbeach
Ай бұрын
I hope not.
@duanejahn2368
Ай бұрын
If I was a seller, I would insist that the buyer's agent not be paid more that 1.5% of the sales price.
@idkmybffjill9682
Ай бұрын
It’d depend for me. If it’s already an in demand property and there is decent competition I’d want as many eyes on it as possible to drive the competition and be down to pay 3% to the buyers agent. Could make the sale price higher and net me more
@barbb.9489
Ай бұрын
In addition, sellers take into consideration all the projects/ money they've put in as improvements to determine price. It always amazes me when buyers expect sellers to sell low until they want to sell their property super high. 😂
@InimicusSolitus
Ай бұрын
We just closed on our home purchase. Seller paid the commissions, and we also negotiated the seller paying closing due to repairs needed.
@t193u
Ай бұрын
@@InimicusSolitus Congratulations 🎊
@ryanoleary4071
Ай бұрын
6.1 doesn't mean you will get 6.1. The lender I'm working with with the program I'm using says she's still seeing 7 or 7.5
@abhisheksakpal484
Ай бұрын
That has to be because of lower credit scores or your lender is just not good. Everyone I know with a good credit is getting in the low 6!
@ryanoleary4071
Ай бұрын
@abhisheksakpal484 well yes. Lower the score the more the rate will be. Them the breaks it seems. I'll weigh all my options at the time I need to. Assistance programs shouldn't be like this but here we are.
@abhisheksakpal484
Ай бұрын
@ryanoleary4071 well if weighing your options include fixing your credit score then that should be your first priority! Since that takes time but will always secure a good rate for you.
@ryanoleary4071
Ай бұрын
@abhisheksakpal484 I'm alright but I don't want to be in my current place over the winter
@Dee0426
Ай бұрын
Don’t rush into it and have your home become a nightmare. 7-7.5 is pretty bad. You should pay off your debt & save money before getting into a house
@barbb.9489
Ай бұрын
As a former realtor in Ohio then SW, FL I would never just encourage people to buy condos without so much due diligence. Condo reserves are non existent in many old complexes, causing now huge assessments and increases in HOA's here in FL, and the new Law is creating havoc for owners. Many will have to dump these old condos!
@peggysmith4445
Ай бұрын
Question: We're considering retirement and moving south to a smaller house. We've been in our Bowie, MD house for 25 yrs. We bought for $154,000 in 1999. (with a 3% mortgage!) Houses in neighborhood selling for $400,000's. When you talk housing market "crash" what do you mean? And, is it better to pay cash for our new house or keep a small mortgage? Thanks!
@frankmc2602
Ай бұрын
If you are retired, eliminate all debt and buy your replacement home for cash. Your MD home increased in value by an average compound rate of 4% annually, which is less than the increase in building/replacement costs.
@vicwiseman6038
Ай бұрын
So if you want to build, you should check the timing and why you want to do it BUT if it comes to buying existing, waiting is stupid and you will lose money by renting. 🧐
@yiios851
Ай бұрын
Realtors are still pressuring sellers into buyer commission and rebranding it as "concession." Then saying to buyers, sellers are willing to consider all offers -- INCLUDING CONCESSIONS. No!!! Sellers are willing to consider all offers. PERIOD. Ask your buyers to pay you and get some confidence, agents. The good agents will survive, and mediocre ones will not.
@SamscottKim
15 күн бұрын
80% is very high! Regardless of Industry
@braddaniel4886
Ай бұрын
House prices will never go down until the amount of people who are buying them slows, way down. (Called, supply and demand). By the Fed. lowering interest rates, they are trying to keep the party going. They are convincing you as a consumer that it is a good time to buy now, keeping prices high. The rates need to stabilize for a period of time (Say 2 - 4 yrs.) before moving again. If you want house prices to drop, you need rates around 6.5% - 7.5% and the average house to site on the market for roughly 4+ months. Sellers will see they will have to lower their price to sell.
@duanejahn2368
Ай бұрын
Everyone knows that the Fed is going into a rate cutting cycle starting in September, so why would buyers buy now when the mortgage rates will be significantly lower in the next 7 months?
@ryanoleary4071
Ай бұрын
@@duanejahn2368 sometimes the situation calls for it
@abhisheksakpal484
Ай бұрын
Because of many personal reasons, their perfect house, timing, moving, job change and they can always refinance next year since there are going to be 10 more cuts in the future. Also once the rates are falling more there will be buying frenzy and competitors outbidding you in 7 months.
@Dee0426
Ай бұрын
Think about all the competition when rates go down. The demand will drive prices up, it happens every time. The best time to buy is when you can afford it. Trying to time the market when rates go down will lead to people getting into bidding war/paying over listing price and waiving things like inspections and covering closing costs.
@Farquadzilla94
Ай бұрын
My realtor just modified our buyer broker agreement that because the seller of the property is only offering 2.5% and he wanted 3% but he was fine with taking the 2.5%
@vicwiseman6038
Ай бұрын
What am I doing with my money 💰? I am saving it. I pay $1630 for a 2 bd 1 bath duplex here in Northern CA. The mortgage on this duplex would be about $3k. I can wait as long as I need to for prices to come down either in real terms or nominal terms. Also, I won’t be paying more than 2% to my agent when I am ready to buy. If the seller offers another 1% to my agent, I will offer 1% less on price. Renting is NOT throwing money away. You are using the property which is depreciating and will need repairs, maintenance, and upgrades. People act like home are always an appreciating asset. That’s only true when they are maintained and updated which costs a LOT of money. A lot of people who purchased during the pandemic are now paying the price for their stupidity. Here in Northern California, prices have declined by 10-20% and are now declining further. Those that move from the Bay Area to East Sac are trying to sell and move back to the bay as they are no longer able to work from home.
@SamscottKim
15 күн бұрын
In Tampa, Sellers are dilusional
@ivyroses4380
Ай бұрын
You didnt lose 25,000... you paid for a place to LIVE!!! You werent homeless.. you paid for a service.. Why is that wrong to do? I dont get why paying rent + throwing money out the window? If you dont have a downpayment if homes are too expensive if rates havent come down enough... then why would you still buy? NO, rent and dont feel bad about renting and keep saving your money...if its meant to be will happen. ALSO dont buy a home thinking to make money in a year a two... thats not how its supposed to work. A rarity has happened this past couple of years BUT its not supposed to be this way.. and it wont! If you are buying NOW thinking in 2 years you gonna make 100K you going to be disappointed. Rent is $2K but mortgage would be $4,500.... I take the rental hahahaha. Save me the $2,500 a month.. ON TOP OF all the repairs etc. Something breaks down I call the landlord.. Its not a bad financial decision.. be smart..Eventually buy when you can..dont be pushed to buy.
@gregwalker7214
28 күн бұрын
This is what we are doing after selling with $600,000 Equity🙏🙏
@SamscottKim
15 күн бұрын
Don't believe the Art work seen on Zillow.. saw 4 houses this week and the places are a dump! Nothing like the pics shown on Zillow, Redfin and Movato... bait and switch at its best
@kimmourino3051
Ай бұрын
If anyone has a bank/mortgage company in the 5%'s please reply with the name of the company please, trying to get the lowest rate possible, my home will be in Delaware. Thanks Guys and Gals❤
@barbb.9489
Ай бұрын
Shouldn't realtors refrain from the liability of discussing and steering people into a stock market?
@abilitytopage
Ай бұрын
You remind me of a guest star on Seinfeld
@binki611
Ай бұрын
And, by the way, I looked today and found over 10,000 houses in he USA for sale under $200K, many in metro areas. Many of those were at or around $100K. Move to where you can afford to live.
@estuardo2985
Ай бұрын
Yeah but many of those are going to be problem houses, or really old houses built in the 1950's with one gross bathroom, lead paint, and asbestos or outright tear-downs (or "town homes" that have significant maintainance fees). I saw some houses that while older were slightly under 200k looked decent until I looked at the flood plain map.
@curvetrcalinga
Ай бұрын
Plus, nothing much to do, terrible school system, and the weather sucks.
@eriwendikhaila
Ай бұрын
What about the crime in those area?
@BTCforce
29 күн бұрын
RE is dead. Peeps losing jobs and will go bankrupt. Govs and bizes are bankrupt. Insurance and maintenance costs exploding.
@momsnavigator4367
Ай бұрын
Talking too much nonsense joke wasting time. No longer listening this channel.
@JackieBaker
Ай бұрын
Bye.
@matthewcastaneda8895
27 күн бұрын
Jackie, I genuinely love your content especially as a fellow New Jerseyan!! I’d love for you have my aunt on for a future video, she gives REALLY good insight into the mortgage business. Her name is Paola Gomez and she’s at Cross Country Mortgage! If you reply with your email or contact, I’d love to help you two connect!
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