Yes when the rate dropped I had only had my house a 1.5 years. So I refinanced and went from 4.7% to 2.8% knocking off almost 500$ off my monthly mortgage. I think I got lucky. My mortgage is less than what people pay for rent in my area.
@PaulWolfert
5 ай бұрын
That's awesome!!! It's hard to leave/sell when you have a rate that low.
@saulborjas512
3 ай бұрын
I relocated from California to detroit 7 yrs ago best decision i did in my life strap on detroit will boom once again buy your home asap
@mikelee0072
Ай бұрын
I wish you liberals would stay put in the states you destroyed with your voting. Should be forced to live in your own slop.
@estellewinters8502
3 ай бұрын
It’s happening everywhere. Not just Michigan.
@tonikeating1287
5 ай бұрын
I don't know where you're from. But in Livingston county we have 3 new subdivisions and it's still growing.
@PaulWolfert
5 ай бұрын
I help a lot of people buy and sell in Brighton/Livingston. There are a few new subs but not many.
@douganderson771
5 ай бұрын
Just spent the last week looking at houses all over the west side , the north end and all the way to South Lyon. Note to any realtors out there who advertise their precious listing as " Move in Ready" liar liar pants on fire . Maybe if your current place is a cardboard box. You should be ashamed of your selves. Found a place in South Lyon , got ready to buy at full price only to learn that the house was already sold, and was closing as we toured it. Thank you to the listing broker who could not find the time to update his listing and take the house off the market. We are closing on our house in NC on April 17th . Plan to get and Air B&B and continue the search. I feel qualified to be very critical of realtors. I was a pretty successful realtor myself when I lived in Florida. My broker would have read me the riot act if I had done the things I witnessed this past week.
@crownprinceofgroovy
5 ай бұрын
Buy when the rates are high, then re-finance when rates lower.
@PaulWolfert
5 ай бұрын
Yep! Exactly.
@CrashBr0
2 ай бұрын
It's just another bubble. Depending on the neighborhood prices have increased 30% to 50% in just a few years. It's not normal and not sustainable. Look at the average household income for the area and then look at the mortgage payment. It's all going to fall apart as soon as we get a bad jobs market. Can't use buy now pay later and credit cards forever.
@RAlrprider
2 ай бұрын
They must have all moved to South Lyon because it's so over crowded now. So sad, it was such a nice small town in the 80s and 90s
@kevinmach730
27 күн бұрын
LOL "over crowded". It's still a small town, small town vibe, just doesn't have the roads to support the growth in my opinion. I'm sure it doesn't feel the same as the 80s or 90s, but I would hardly call it overcrowded. Same exact thing happened to Milford, which really grew, but is hardly overcrowded by Oakland County standards.
@RAlrprider
27 күн бұрын
@@kevinmach730 well it's sure isn't the country life I moved here for in the early 80's. I don't like sitting in traffic and wouldn't dare go into town at rush hour. I miss the peace and quiet without a car flying down my road. My opinion according to the how I see it, it's overcrowded. I will certainly move away if the economy gets better. I moved from livonia when there was still horse farms. Now South Lyon grew up and no where to ride. I enjoy nature not ant hill subdivisions.
@kevinmach730
27 күн бұрын
@@RAlrprider Yes, I guess I see your point.
@eshoo8000
3 ай бұрын
These problems such as lack of housing inventory serve as indications of the declining position of the United States on the world stage. The country's ability to construct new houses or enhance infrastructure has been limited due to its reduced status as a superpower compared to its past position.
@Invest4Cash-Flow
4 ай бұрын
2.85% my mortgage in Miami . I was just lucky 🍀
@PaulWolfert
4 ай бұрын
That's INCREDIBLE!!!
@savannah9903
5 ай бұрын
We were looking around metro Detroit and tbh paused BECAUSE of lack of inventory.
@PaulWolfert
5 ай бұрын
A lot of people are pausing and hoping more homes come on the market AND for the rates to drop. But when those things happen, it'll be even harder to buy because the buyers will still outnumber the homes 😩 - if you decide to jump back in and need an agent in Metro Detroit, I'd love to help!
@adriennebradywalker680
5 ай бұрын
We are currently in a cooperative, but can sell for $75k plus, which would be a great down payment. The issue, for us, is that everything that even comes close to ticking all of our boxes is proced at well over $300k. We make north of $125k/year, but still don't see how we could stay comfortable with a payment that is well over $2/k a month. Now that you have echoed what I have been suspecting is coming, I feel like we are never going to be able to buy. And that's frustrating...😢
@PaulWolfert
5 ай бұрын
It's tough for sure 😔 - a lot of people are buying now and waiting for the rates to drop instead of paying higher prices later
@ritaroyr581
5 ай бұрын
Can you please make a video on driving around michigan ? Is it easy on new drivers? How is the road traffic and discipline? Any peculiar rules which are new here?
@PaulWolfert
5 ай бұрын
I'd love to make a video like that but I'm not sure how my subscribers would react. Michigan roads are like other states but with more potholes.
@RobZ1967
5 ай бұрын
Question about locking into new construction - are you talking specifically in a development or just any new construction in general, such as buying several acres and building new? And great videos by the way! We're moving back to Michigan in 2025 at some point... Looking at West Michigan in particular.
@PaulWolfert
5 ай бұрын
Come on back! 😃 - mainly locking into a new build/site and starting sooner than later. I think prices of everything will continue to rise over the next few years.
@daveyjenni9265
2 ай бұрын
The realty is making homes price higher than than what they are.
@kevinmach730
27 күн бұрын
I'm a subscriber and like your channel, so don't think I'm just trolling you here- but the one thiing you're leaving out of the equation is a recessionary market- which have been slowly descending into- there will be fewer buyers for those homes if people don't feel good about their jobs or economy, even if the interest rates are low. But at the end of the day, it sounds like my choices are pay an exhorbinant interest rate now so you don't have to overbid on your home - OR- wait for the interest rate to fall, so you can be in competition with every one else. Sound like a latteral move, and nothing will really change until they build new homes and we have more inventory.
@theleakyprophet
2 ай бұрын
Where are new builds to be found from Woodward to Lake St Clair?
@barakshawazori9974
3 ай бұрын
People are astonishing thinking Detroit is getting expensive lol...I have seen this scenario in Dallas 7-8 years ago it is repeating exactly same thing...wait until you can't find a house in Detroit less than $250k... having said that, new rules coming to home builders and homeowners eventually regarding climate change compliant bs, invest in vacant land while they are still cheap!
@jerryostrowski9806
3 ай бұрын
Can’t find a house in Detroit under 250,000! Lots of houses under $100k
@barakshawazori9974
2 ай бұрын
@@jerryostrowski9806 I said wait untill you womt find
@DetroitHomeInspector
5 ай бұрын
I am a home inspector and can't believe how much prices have gone up in Detroit proper. Even lack luster homes in sketchy areas are at 200k if they are brick. Makes me wonder.
@PaulWolfert
5 ай бұрын
Yep!! It's getting wild. Buying a home in Metro Detroit under 200 is nearly impossible
@Michigancvhi
4 ай бұрын
I am also a home inspector in the Detroit area and I completely agree, Detroit house will be $170k plus asking but they neighbor house will either be burnt down or in terrible condition I don’t get why people are buying some of these homes at these prices. These flippers are terrible just put lip stick on the house and they think it’s going to pass inspection lol
@PaulWolfert
4 ай бұрын
@@Michigancvhi some of the flips I see are SO bad. Only experienced flippers with access to $ should be allowed to renovate some of the old homes in Detroit. A lot of them bite off more than they can chew.
@Michigancvhi
4 ай бұрын
@@PaulWolfert absolutely
@CrashBr0
2 ай бұрын
Bubble.😂
@backrack01
5 ай бұрын
If survive means prices keep going up and everything in the world is lovely.. then nope. I've been in MI for 44 yrs. I know the general demographic. On avg.. Mich people aren't making 6 figures. Can't continually have someone making 130k a year living next to a plumber and grade school teacher.
@keanuwick8485
3 ай бұрын
Thats good. Cookie cutter subdivisions fing suck
@jordanm4958
4 ай бұрын
Financial Advice without being a financial advisor, typical real estate nerd
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