You will REGRET Buying A House in 2024

Рет қаралды 44,590

Ай бұрын

Buying Right Now could be the worst decision of your life. Buying a house isn't about trying to do everything right but more trying not to do anything wrong. In this video, we discuss why 93% of american regret buying a home and how you can avoid it.
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Пікірлер: 175

@michaelschiemer3 Ай бұрын

In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.

@Jamesbrown1126 Ай бұрын

I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!

@juanjarta 26 күн бұрын

@@michaelschiemer3 hmm no they really dont their payment is extremely low and they sit comfortably

@ArchieJohnson5h Ай бұрын

In August 2022, I paid 685k with a 4.375 interest rate for my second property in San Diego. The property is currently worth $895k. I've already increased my ownership by over 30% in less than two years. There's no need for me to sell because I'm making over 90k in rental income from my two ADU studios, which pays my mortgage each month. In addition, my rate is ridiculously low, which I view as a benefit.

@ms_christinejones Ай бұрын

I'm sorry for first-time homebuyers who could never afford to buy one in the first place. I have no sympathy for first-time homebuyers who could afford it but decided to hold off because they believed the market was collapsing and was now priced out.

@collins.l454 Ай бұрын

Even now, the real estate market is largely local. Prices in different cities do not correspond to one other.

@republican7 Ай бұрын

It is recommended that individuals who require guidance get advice from a qualified and impartial financial consultant.

@palebiss1646 Ай бұрын

Recently, I've been considering contacting consultants. I need guidance because I'm an adult, but I'm not sure if using their services will be very helpful.

@ArchieJohnson5h Ай бұрын

You may search *Leah* *Foster* *Alderman* to find the details you need to work with a letter to make an appointment.

@SCOTTDisick-yc7x 20 күн бұрын

I’m 35 and I have about $250k liquid in savings which I plan to put towards becoming a homeowner but based on the current high prices on real estate, do you suggest I hold from buying or do stocks for now?

@Williamjame444 20 күн бұрын

investors are extra cautious right now. They want to make sure they’re getting a good deal given how much mortgage payments have gone up, and when they don’t feel like they’re getting a good deal, they’re backing out, so definitely looking elsewhere is a necessity.

@vinnyminhas4259 19 күн бұрын

Buy real estate in states that don’t dip and didn’t even dip in 2008. NYC boroughs, northern Jersey etc

@jay8130 19 күн бұрын

Your house will always be a good investment long term. Buy a home you’re happy to live in for the next 10+ years and it will always be a good investment.

@benarshy Күн бұрын

diversify. half half.

@DementedView Ай бұрын

I bought a house 2023 and don't regret it but its because my wife and I took our time and really searched the market. We also didn't settle with any house and made sure it was within our financial means along with hitting our desired needs. And we were willing to back out after inspection when things weren't looking right. But to be honest I think we also got lucky, our home warranty ended up covering a replacement for a furnace and ac which helped a lot. And I should also stress that regardless I made sure that after closing costs I still had a decent amount in savings in-case something came up.

@JebSmith Ай бұрын

Congrats.............sounds like you made the right choices for where you were at that time. Good stuff.

@BREEZYM6015 Ай бұрын

I bought a townhome in September of 2023. It's been a good decision thus far.

@Agatha.wayne0 14 күн бұрын

my husband and I own single home family rentals. we have $200,000 left on mortgages. We are now the possibility of maintaining $70,000 annual income by selling and investing in stocks and bonds. How does this work out?

@JacobPaul-n6p 10 күн бұрын

have you worked with a financial planner ? if yes , how was it? care to share your experience

@BridgetMiller- 10 күн бұрын

@@JaneBlac- This lynne lady looks great.i looked her name up. We have about $300,000 in IRA and 401(k) and 403(b) assets. Is that something she can manage? I already left a message, what’s the response timing like?

@alucard4860 Ай бұрын

Thanks for the refresher and easing my mind that it’s okay to rent and continue to save. I have less then a year to move and was getting flustered about trying to find a house near where I work since houses in Utah are overpriced by a good 30-40%.

@JebSmith Ай бұрын

You have to do what's right for you! ALWAYS!

@parthpatel353 29 күн бұрын

Thanks for this video, I’m a 28 year old who has saved nearly everything since I graduated college and it’s sometimes tough to see everyone around you buying helps me understand how to plan.

@dixielandproductionco.6989 Ай бұрын

Good stuff guys stopped by a little late but still smashed the thumbs up 👍

@JebSmith Ай бұрын

Thanks for the visit

@ryanrusco Ай бұрын

Closing on a duplex in San Diego in two weeks, first time home for my fiancé and I. - our reasons were that with a duplex it cuts out mortgage to about what renting a 2br is in San Diego, with the other half str or ltr. Somewhere to live in a city we love + cashflow as an investment. I couldn’t imagine just buying a SFH rn.

@daveblackman816 Ай бұрын

In a good or bad market, you should only buy the house that fits your needs and is affordable to where your entire monthly pay isn’t going to a house. So many people make that mistake.

@JebSmith Ай бұрын

💯

@Nournourhayati409 Ай бұрын

For sale by owner directly a single family home 15 min away from downtown orlando look at zillow FSBO Hamlet Dr Maitland, FL title company takes care of everything and saves the buyer and the seller commission

@dpdistribution142 Ай бұрын

We brought in 2023 and now our home is 200k more. Even so, we have had a plethora of phantom cost!

@bigg368 Ай бұрын

I'm sorry Jeb, but this story of this woman getting her rent subsidized so she can live in Beverly Hills is absolutely nauseating. And to top it off, she's saving 7000 dollars a month! This is simply outrageous when you have people who can't make ends meet. This woman doesn't count except as an example of the inherent unffairness in progressive policies. I would love to live in Beverly Hills but I can't afford it and I don't qualify for rent subsidies. This story is sickening.

@JebSmith Ай бұрын

you don’t have to like it, but it was the truth and an example where renting makes more sense over buying. Each person situation is a little bit different so that’s why the answer isn’t always the same.

@bigg368 Ай бұрын

@JebSmith I believe you. In her case banking 7000 a month for a 100K goal in a year all while getting her rent subsidized is definitely better than buying. Kids in school, 7000 a month to save and subsidized rent while living in 90210 is nauseating while people are struggling to pay rent in Toledo, OH but such is life in America in 2024.

@mattrandall9577 Ай бұрын

@@bigg368 lol that story really is crazy.

@davidnoticiero6728 Ай бұрын

If you ever saw the part of Beverly Hills that is where the apartments and other rentals are, you wouldn't be impressed, except for the zip code, crowded, no parking, unending traffic, rampant burglaries, etc. It's not the "hood" but don't get it twisted, Beverly Hills subsidized housing isn't much better than the ones LA has just across the city limits

@lesleysears9808 Ай бұрын

So true! Who is paying for these subsidies to live in California. Living in paradise on the public dime!

@bryceolsen3527 Ай бұрын

Me on my way to go close on a deal in less than 2 hours 😳

@Nournourhayati409 Ай бұрын

For sale by owner directly a single family home 15 min away from downtown orlando look at zillow FSBO 1074 Hamlet Dr Maitland, FL title company takes care of everything and saves the buyer and the seller commission

@lesleysears9808 Ай бұрын

I just found your channel and I subscribed cuz you are so cute! I’m too old for you but thought it might make your day!😊❤🎉

@JebSmith Ай бұрын

🫣❤️

@eurekahope5310 Ай бұрын

Yikes! Our tax dollars are subsidizing people in Beverly Hills who can save $100,000 a year... I have a family member with physical disabilities that will prevent his ability to drive and impact his reading (but not intelligence), yet he is struggling to get any aid as a young adult. This is a messed up system...

@bigg368 Ай бұрын

Yes, it makes me sick. I assume she has a car, needs to buy food, buy health insurance, spend on her kids, etc and she still saves 7000 a month and she pockets tax money to pay her rent?! It's outrageous. This just makes me sick.

@JebSmith Ай бұрын

Let me make a correction, rent controlled, not subsidized.............I misspoke.

@bigb6046 Ай бұрын

I used to live in Marina Del Rey for about ten years and when I left I was paying 3700.00 a month for a nice one bedroom apartment. There were several people living there that were always around no matter what time a day walking the dog , one guy working on a motorcycle etc. I found out that Marina Del Rey has a law that every rental community had to have a certain percentage of their units for low income housing . So I was paying 3700.00/month so someone else can pay a unrealistically low rent. I left CA during Covid and despite that I love the weather and natural beauty of CA I will never live there again.

@eurekahope5310 Ай бұрын

@@JebSmith Not as bad as subsidized housing but still unfortunate government interference. The homeowner still has to pay Beverly Hills taxes and home repair prices on a home he/she is forced to rent well below market value. I think some government likes to push rent control because it aligns with the "You will own nothing and will like it" philosophy from the WEF. It messes with supply and demand and market prices. If a landlord inherited her mom's house but cannot rent it out for enough to pay taxes and repairs on rent control prices, she will have to sell Mom's home and corporations are scooping up real estate.

@janie3117 Ай бұрын

@@eurekahope5310great points!

@TruongNguyen_TLC Ай бұрын

You’re absolutely right you’re a good agent 😊

@TamaraNJones 4 күн бұрын

I think it’s crazy how I hear all over the internet people should rent. I’m a renter and my last rent increased by almost $1000 after covid and kept increasing. I had to MOVE! Moving is expensive and as long as you rent you will always have to move because you are at the mercy of that landlord. I worked property management and we were taught to get you in the door comfortable and then RAISE your rent. You will always be paying someone else bills and securing their future if you continue to rent. We all must try to buy even if it’s a double wide to try to move towards being free.

@ftr911drvr Ай бұрын

Great advice , plenty of people bought a home and settled and regret it even when rates were low.

@JebSmith Ай бұрын

Agreed!

@MestisEthopianKitchen Ай бұрын

Thank you so much 🎉

@a55tech 23 күн бұрын

pressured to offer is the dumbest one, the agent is your employee, u tell them what to do not other way around

@davidnoticiero6728 Ай бұрын

Great candid content. We bought at the height of the pandemic craziness and your advice about buying a home that fit our needs is so important. We had lost out on no less than a dozen offers and we began looking at houses that were too small or didn't have what we wanted simply because we didn't want to go above our price range, our realtor sat us down during a showing of a house that frankly was the absolute bare minimum of everything we wanted and she asked us, if we loved the house, and we said it was okay, (we were up against it we had 60 days to find a place to live because our rental was being sold, and we had been saving for years and were in a position to buy), our realtor said, if we didn't love it, don't buy it, better to rent an apartment or live with a relative for a few weeks or even months until we find the right house than be stuck with a house we quickly outgrow or aren't fully pleased with. Keep up the great work

@JebSmith Ай бұрын

Sounds like you had a great Realtor...........that was wise advice. Glad it worked out.

@ScottLarrry Ай бұрын

I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading 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?

@HRMColoniallifeinsurance Ай бұрын

Investing in real estate and stocks might be a wise choice, particularly if you have a sound trading plan that can get you through profitable days.

@OliverLiam-px3vx Ай бұрын

You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who witnessed the 2008 financial crisis can expect to generate a large wage.

@Nournourhayati409 Ай бұрын

@AJfromLA818 Ай бұрын

I’m a first time home buyer and purchased a brand new dream home in LA last year, when everyone said I was crazy cuz the interest rates are so high, and were still going up when we were in escrow! Because I did everything right having watched so many KZfaq videos I have no regrets. Because the market was so bad I ended up being the only offer on the house, so I was able to get my move-in- ready under asking (compared to the year prior when the market was super competitive with multiple offers on new homes paying upwards of 50k+ over asking)! Paid the 15% to avoid the PMI, Bought down a point to reduce my interest rate, and made sure I still had 6 months salary savings which I needed to pay for furnishings and unexpected maintenance. I bought in the area I was renting so I knew the area, it’s close to family. I also budgeted so even if my mortgage is more than I would have rented, I still am saving every month. I’m looking forward to future reductions on the interest rates to refinance, but I don’t need it to survive, so when it does I will be saving so much more!

@JebSmith Ай бұрын

Congrats! Nice work Anthony!

@bigg368 Ай бұрын

I'd love to know where in LA you purchased your dream home. I can't find a decent home in the LA area for a million bucks. I've looked in reseda, wenekta, encino, woodland hills, even down near san diego in Vista and fallbrook. Paying rent while simultaneously paying for all other expenses and then saving for a huge down-payment is virtually impossible for most people in the LA area. Can you give specific numbers like salary, bills, rent etc?

@AJfromLA818 Ай бұрын

@@bigg368 I purchased a 1900 sq ft three-story townhome/condo in the west San Fernando Valley with a beautiful Mountain View. It’s the perfect size for me, my partner and small dog. It’s a great neighborhood that’s clean and safe

@Meleyoutube Ай бұрын

have are question pls? is good or bad time to buy house now? im rent the house but fell like sooo expensive .every year the rent raise $100 up and im living this house 7 years. im ready to buy the house buy im looking at now all the houses is very very expensive.

@Nournourhayati409 Ай бұрын

@Nightpanda400 Ай бұрын

Jeb, do you mean the BH woman lives in a rent controlled apartment and not subsidized housing? Subsidized means she has to qualify based on income and if she did - she and her attorney hubby are engaging in serious housing fraud. I see to work in BH and lived in LA for many years. Also, if she is saving 100k per year she will need it for her kids tuition because all her savings will count against her kids financial aid (unlike owning a house - where equity is excluded from fin aid awards). If both her kids get into USC, that’s $800k tuition. $100k per year now. I think this is an important financial mistake most people overlook - how your assets fare in financial aid decisions vs. equity in your own home (which does not count most of the time).

@JebSmith Ай бұрын

Yes, sorry...........it should have been rent controlled not subsidized.

@JebSmith Ай бұрын

Good points.

@franciscomcmxc1052 Ай бұрын

The issue with housing is that it's not a luxury; it's a fundamental human need. If you can't afford an iPhone, there are cheaper alternatives available. However, if you can't afford a home, you're left with renting or living with others, which delays important life milestones like starting a family. I've experienced this firsthand. I graduated last year as a civil engineer, earning about $80K with an 800 credit score and some savings. My fiancée earns around $50K as a waitress while pursuing her nursing degree. Over the past three years, monthly home payments in South Florida have more than doubled, alongside rising living costs. This makes it impossible for us to afford our own home, so I'm still living with my parents, saving up for a home that I hope to afford one day. I can't imagine the challenges faced by other young couples with lower incomes and children right now

@BREEZYM6015 Ай бұрын

I bought a 2 bed, 2 bath townhome in Las Vegas in September of 2023 on $60K a year. I understand that a condo or townhome isn't going to be an option for a lot of people due to their small sqft but if you don't need a lot of space then consider one of those.

@franciscomcmxc1052 Ай бұрын

@@BREEZYM6015 I am happy for you! hopefully I’ll be able yo buy soon

@shesmymama Ай бұрын

I'm stuck on the husband being an attorney and the wife a professor. No way they qualify for subsidized housing, especially if they're able to save $7K per month. What am I missing?

@JazminSante Ай бұрын

in certain areas in la county they are held to local renting and landlord laws which say you can’t raise rents prices above a certain percentage. imagine if they moved in 15 years ago in 2009, since they have high school kids it might have been, then they would have been locked into a rent control area where they are not legally allowed to shock raise rents, in an effort to prevent to gentrification, and be considerate to all residents of the area. they could be paying dirt cheap if they have been there a while, and rents have only went up $100 bucks every other year or so often

@Nournourhayati409 Ай бұрын

@stepheniecovey6209 17 күн бұрын

What kind of homes rent for US$3032/ mo in Beverly Hills? Also, how do high-income earners like a lawyer and a USC professor get subsidized housing? I want to know because I want to get subsidized housing too in Beverly Hills.

@ChanelNo5568 7 күн бұрын

Exactly 😂😂😂😂😂

@Curious_Skeptic 10 күн бұрын

You have no idea how pleased I am that I sold my NJ home almost at the exact perfect timing! We go 80k over asking! We didn't even expect that could even happen, LOL. The bad news, we sold house due to recent divorce. But, my ex and I both walked away with almost double the cash we thought we'd have! I only pay 1k in rent in NJ on count of a friend renting me a bedroom, LOL. I also split an office next to my bedroom as part of the deal. :) My ex and kids are in Florida. I'm very temped to rent in Florida. Prices of renting are AMAZING! I would NEVER EVER buy a home in Florida! Not sure who will ever buy down there after this insurance and tax mess! You could give a home away in Florida, and still may not be able to afford taxes and insurance!!!! Renting? Home run. Fixed monthly expenses! ZERO RISK! I'm 53. I WILL NEVER EVER be able to pay off a mortgage. I will never realize the investment return! The way I look at it, as I get older, I can keep down sizing my rental, LOL. At some point, I could go back to splitting a home with another senior. (If I make it to 65 that is, LOL). Sadly, home ownership is a pipe dream for the rich! Very few can afford a home. DO NOT BUY A HOME !!!! Weight for at least 2-4 years! RENT! Our country WILL CRASH like a ton of bricks! WE ALL KNOW THIS IS TRUE! If you make low-to middle average middle class income? DO NOT risk it! Sit back, what the giant crash. Keep your cash safe. Use many banks, and have cash on hand. You down payment will be your lifesaver to get you through the hell that is coming! I have 100k in cash in the bank earning 5% every four months! Much safer than a house right now! Interest on that money will pay three months of rent per year. So, right there, I'm saving money not owning by using cash to earn interest! Your house is going to lose you 10's of thousand in under a year!

@ReynaDPerez Ай бұрын

My niece was doing Uber and she wouldn’t get any tips from wealthy communities and got all her tips from middle or low class communities. Some I guess think they’ll go broke or straight out stingy.

@JebSmith Ай бұрын

The problem with Uber is that it was originally set as a platform where there was no tipping and then like everything they wanted to charge more and give drivers less and now have switched the platform where it's the passengers responsbility. On top of that, a lof of the cars these days are dirty both inside and outside but the costs are just as expensive. I myself tip most drivers but at the same time uber is now just as expensive as taking a cab in many areas out there so a lot of the benefit has been lost. I realize this has nothing to do with your niece, just went on a tangent because the platform isn't nearly what it was 3 years ago.

@ReynaDPerez Ай бұрын

@@JebSmith yes absolutely agree 👍

@aliannarodriguez1581 18 күн бұрын

I was a bit surprised about the rent controlled housing given that she is able to save 100k a year. I would assume there is a limited amount of that housing.

@susievidal4134 Ай бұрын

Ive been waiting for a home for over 4 years but ive spoken to several real estate people and they all have told me to stay where im at im in a 4 bedroom apartment and its subsidizing housing and dont pay that much in rent but most of my kids have left got only three at home two adults one younger in school. My reason for buying is a more peaceful environment and for my child to have more space to atleast have a yard to play in and a place where we dont have to do inspections and having to recertify every year is a pain. We lost our last house in 2010 with my ex husband and i want to leave my kids a house so they dont have to worry in the future and have a home to call their own.Also here where i live most old homes cost just as much as a new home and new homes are offering an interest rate at 4.9 way lower than what it is plus a new home sometimes offer incentives but my thing is i worry if we can afford a house i dont want to purchase a home for later ending up losing it after losing a home in the past it's my main worry. I had a question is it a must to give 10 percent down on a new home? Arent there first time home buyers programs that my husband can qualify for and does he have to pay that money back ?

@JebSmith Ай бұрын

Hello @susievidal4134, The fears you have are completely valid. Purchasing a home, especially after experiencing loss, can be stressful. Regarding your question about the 10% down payment; it's not always a must. The down payment can even be as low as 3.5% in some cases and there are many first-time home buyers programs that may be available to your family. Some of these programs do not need to be paid back, while others operate as a second, low-interest mortgage. I would suggest speaking to a financial advisor or a mortgage broker who can help navigate these programs and determine the best course of action for your specific circumstances.

@susievidal4134 Ай бұрын

@@JebSmith thank you and I wish my real estate agent was familiar with these programs because I don't want to use all my savings towards a down payment I'd like to keep it in the bank for mortgage payments and any emergencies

@Nournourhayati409 Ай бұрын

@@susievidal4134 For sale by owner directly a single family home 15 min away from downtown orlando look at zillow FSBO 1074 Hamlet Dr Maitland, FL title company takes care of everything and saves the buyer and the seller commission

@jackstephens6642 Ай бұрын

What about property taxes and insurance? Costs do go up sometimes.

@House_hacker_619 Ай бұрын

What about rent increase 10% every year, no tax breaks and paying your landlord mortgage

@jackstephens6642 Ай бұрын

@@House_hacker_619 I agree. I just think it's a bit misleading to say you lock in your housing costs.

@dudedude8931 Ай бұрын

Largely, the price of homes is not going to fluctuate much. Those waiting out for the prices of homes to go down, will not see it happen. The rates will drop, then the "hold outs" will flood the market and keep the prices up. This will not change for a very long time. The cost of a home is where it will stay I'm afraid. Buy now and refinance, if you can.

@Uss997 Ай бұрын

I totally agree,unless people are in over-priced market,I don't see see prices coming down 40 or 50%.

@McNelisG Ай бұрын

Right on point, unfortunately most non-homeowners don’t want to believe it.

@JebSmith Ай бұрын

I'm more/less on the same page. I feel like prices are somewhat stuck for the time being in most markets out there.

@ReynaDPerez Ай бұрын

@@JebSmith You said the magic words “for the time being”

@ftr911drvr Ай бұрын

@Uss997 and even if we have a crash and it does drop 40 to 50 history has shown if it hits rock bottom it will go back up

@Ultrajamz Ай бұрын

I’m just going to keep renting a small apartment and stack savings. I figure prices will stay roughly sideways (or at least, not increasing faster than I save) with the ways things are. Its true you are “paying the owners mortgage” when you rent, but the “owners mortgage” is much much cheaper than what I would get if I bought today (the interest alone would dwarf if unless you have a massive down payment). Theres also a lot of competition among landlords right now with many rental complexes built where I am, so they can’t just easily raise prices to capture inflation profits.

@JebSmith Ай бұрын

The biggest advantage of homeownership is fixing your housing cost. Typically with rent, it continues to increase annually, but if rent stays the same or you’re able to move and save money on rent, then that’s a pro for renting at least in the interim.

@priceless55 18 сағат бұрын

Anyone one only owned for 2-4 yrs . Its too soon to say i made good decision. Just wait

@EMPTORADVOCATE-gt4rb Ай бұрын

You do not need to own a home DO NOT BUY A HOME NOW! We have been in a bubble it started in 2014 .

@barefootgardens22 Ай бұрын

I'm selling and moving out of state. Hate it here! The house I'm getting has over 8 acres!

@JebSmith Ай бұрын

congrats..............where ya moving?

@Pele-speak Ай бұрын

They should also ask, if you had the chance to revert your decision, would you?

@Techpodshed 8 күн бұрын

Paying a mortgage is like Paying rent, you don't own a home till it's payed off. Don't pay your mortgage for 5 months see who really is the owner 😂

@JackT-nn8iy Ай бұрын

Housing market is just starting to crash. Buy late 2024 or wait until houses go on sale in 2025! Housing correction is finally here be happy!!!!!

@piranhaparran3007 Ай бұрын

Who waives a house inspection?

@arizonanative7409 Ай бұрын

Wait, what? This lady is in subsidized housing in … Beverly Hills? Amazing.

@JebSmith Ай бұрын

I mispoke...........not subsidized but rather rent control.

@ChanelNo5568 7 күн бұрын

She lives in Beverly Hills and only renting at 3200 per month🤔

@scoobie8amg Ай бұрын

We bought our house Feb 2024. I dont see things changing anytime soon and we wanted to get in the game. Our rate is 6.25%. I LOVE my house. People forget that once you have money to buy you need to be selected by the seller. Thats also the hard part.

@JebSmith Ай бұрын

💯

@PostprandialTorpor Ай бұрын

California market truths

@williamcathcart387 Ай бұрын

@@PostprandialTorpor NJ housing market truths also lol

@amprg Ай бұрын

I bought my house in Los Angeles in 2008 with 6.825% rate and PMI on top of it. My down-payment was just $15K. I bought a Camry at the same year for $18K. Was I under a little financial pressure? Yes, of course. Did I regret it? Hell no. The same house is now 3 times more in 16 years. I didn't have a home at that time and was wasting my money in rent. My interest has been 3.5% since 2016 (8 years later). I think you did the right move if you had money and were in need of a home to live in.

@Far7rom Ай бұрын

Hopeful you still feel that way after a 30% correction.

@rosemont83 Ай бұрын

I feel like I have heard this bucket story before

@JebSmith Ай бұрын

you probably have if you've been on my channel as I mentioned it a few weeks ago.

@Travellind Ай бұрын

😮😮😮

@seancuomo7762 4 күн бұрын

A Crash is a good thing. More home appreciation is doom and gloom in the short term.

@colinsmyers6264 Ай бұрын

In 5 years, a lot of them home buyers who regret their purchase are going to look back and feel fortunate to have bought when they did. Even though their mortgages would have been less if they bought a few years ago. I certainly can’t speak for every market, but I’m confident that I can speak for the north east.

@JebSmith Ай бұрын

The north east is bananas right now...........Sounds like you feel like it's going to continue? Why?

@williamcathcart387 Ай бұрын

@JebSmith north east is definitely a crazy market.. I'm in NJ looking to embark on the home buying process in the next 6 months and it's wild. I can absolutely see it staying like that for awhile too unfortunately

@colinsmyers6264 Ай бұрын

@@JebSmith I can only speak for NJ here, but every county in the state has real estate appreciation for Q2 2024 between 9-12% on an annual basis. Every county only has half the amount of new listings as opposed to 2021 and 2022, and even 2021’s numbers are historically lower than normal. My friends throughout the state are showing up to open houses with lines wrapped around the corner, and going to private viewings with 20 other people at the same time as them.

@supercrazydesi Ай бұрын

Wow

@williamcathcart387 Ай бұрын

@@colinsmyers6264 yup in nj also... craziness here

@tayacidy8003 29 күн бұрын

Hey am in the military so I have the Va loan and have about 15,000 saved up and about to get married and I was wondering if I should get a home first or start renting then getting a home

@McNelisG Ай бұрын

We bought an entry level home in norther CA in October 2023. Our home has increased by $90k over the last 7 months…

@eurekahope5310 Ай бұрын

So did ours in 2007! In fact, we refinanced a year after purchase and were offered a HELOC because our modest home increased $70,000 in that first year. Thank God we didn't take it because we were underwater for nearly a decade when home prices crashed. We were stuck in our twenties and early thirties as we began our family and quickly outgrew the starter home. We still love the land and location, but it was depressing being stuck during our early careers and young children. I doubt that type of crash will happen again, but these prices are unsustainable. Best of luck, but please don't leverage on your home until you have significant equity (or ever).

@JebSmith Ай бұрын

That's awesome but really means nothing until you go to sell!

@McNelisG Ай бұрын

Thank you for the tips we don’t ever plan to take out a HELOC. We bought below market price so I believe that’s partly why such a large increase so quickly. We had a new roof included as well…Anyways, we love our home and plan to be here for several years with plenty of room to grow. Even if we see a correction in prices the market always recover’s, history has shown that. A crash would likely give us opportunity to refinance. At that point our monthly payment would be less than renting. My opinion is becoming a homeowner will get harder over the years.

@McNelisG Ай бұрын

@@JebSmith it means prices are still going up in my area. I don’t plan on ever selling. Would keep and get another If opportunity presents itself.

@JaneTheDoe-id2vx Ай бұрын

isn’t that a bad thing? won’t you pay more in taxes or insurance?

@danieldosanjos8126 Ай бұрын

I just bought 2 homes in the last 4 months

@Nournourhayati409 Ай бұрын

@danieldosanjos8126 29 күн бұрын

@Nournourhayati409 This home is in one of the best areas in Orlando

@Nournourhayati409 29 күн бұрын

@@danieldosanjos8126 true very very nice location , but sadly not that many people try to look by them self at zillow FSBO and find a house . They all go to a realtor and of course the realtor wont show them my house because they are not earning any commission instead i get 100 calls from them to make me sign a contract i replied no no to them . And i am trying to find a family that they really deserve a great location . thank you for your comment

@danieldosanjos8126 29 күн бұрын

@Nournourhayati409 However I did not find the home

@Nournourhayati409 29 күн бұрын

@@danieldosanjos8126 1074 hamlet Dr Maitland,FL It's also posted in trulia as well

@windsorglenn1187 Ай бұрын

whats with this new rapid fire presentation,I preferred the the original presentation ,it was more personable.

@JebSmith Ай бұрын

I don't understand, what's the original presentation?

@buckmaster7185 Ай бұрын

click bait probably lives in his mom's basemen

@meminionru Ай бұрын

lol living in subsidized housing and saving 7K a month????

@lisak9398 Ай бұрын

Not sure why you’re discouraging home buying. There are people out there that need to sell and this is hurting people with a very general and false narrative

@JebSmith Ай бұрын

Did you watch the video or just comment? The video isn’t discouraging anyone from buying a home but rather telling them what to pay attention to if they’re planning on buying a home so that they don’t have regrets.

@whaverittakes Ай бұрын

lol 93%%%%% where the helll do you pull these stats... out of the bum hole?

@ScooterCat64 Ай бұрын

There's a 97% chance he completely made that up on the spot

@bratan4 Ай бұрын

I love how the story have changed. For last 3 years I've been preaching that you should not buy a house but you'll thought I was an idiot...😂 LoL. Zillow is starting to change their story also. PS when they all start preaching that you should not buy that's when you can go and buy it. 😂

@JebSmith Ай бұрын

My thoughts havent' changed! Clearly you just commented without watching the video. Pretty Typical.

@JebSmith Ай бұрын

Oh I forgot to mention for the last 3 years you've been horrifically wrong as well

@joewermer6067 Ай бұрын

Who is making that kind of dough

@Horatio1886build Ай бұрын

Maybe people really are not as smart as I thought. Doesn't most of whats on these realestate channels just seem like common sense to me, and you, no? Caveat emptor, no one is going to look out for you, better than you. Research, research, research.