💰Jackie, it's difficult timing the market but I agree that the risk of buying in an overvalued market is a concern, especially with the current shortage of inventory and high competition among buyers.💸Spending on inspections can save a lot of money in the long run.

...thank you @JackieBaker....you hit the points I needed to hear AGAIN...if you rent now keep renting, even if the rent may go up a little bit. Question is if I am renting and the house is being sold, (and we're staying) can the new owner increase the rent AGAIN. "Again" I mean by that that the selling owner increased rent by $300 in March 2024 and a new owner may do it again (?). I 99.9% believe Sussex county NJ is not rent controlled and landlords have a free range on rent increase. Am I right!?

Everyone I know who bought in last year and this are happy. (First home, not investment). Why time the market?

what if you're paying cash in an area where people don't want to live

and those stunned people who sold their home for 242 over list are now buyers and they too will face all of this...its not even worth selling unless you are moving to Iowa with the cash

Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

Personally, I can connect to that. When I began working with a fiduciary financial counsellor, my advantages were certain. I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2021 this time with guidance, Long story short, its been 2years now and I’ve gained over a million dollars following guidance from my investment adviser.

Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2019, and I return at least $121k ROI, and this does not include capital gain.

I'm pleased I found this conversation. If you're comfortable with it, could you share how I can get in touch with the advisor you rely on for your investments?

Vivian Carol Gioia is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

I sold a property in Q4 of 2022 and I'm waiting for a house crash to happen so I buy cheap. In the meanwhile, I've been looking at dividend stocks as an alternative., any idea if it's a good time to buy? I hear people say it's a madhouse right now

Home prices will come down eventually, but for now; get your money as much as you can, out of the housing market and get into the financial markets or gold. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek a pro who knows about the financial markets.

Thanks for replying, You seem to know much, How did you go about it and can you recommend an advisor like yours?

The decision on when to pick an Adviser is a very personal one. I take guidance from Sharon Ann Meny to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.

I just googled her now and I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.

Consider investing in stocks especially during a recession . While recessions can be tough, they can also offer good chances to buy low and sell high in the markets if you're cautious. Just remember, this is not financial advice, but it's a good time to think about buying stocks since having cash on hand isn't always the best option.

If you lack market knowledge, your best bet is to seek advice or support from a consultant or investing coach. Contacting a consultant may sound simple, but it's how I've managed to stay afloat in the market and increase my portfolio to roughly 65% since January. It is, in my opinion, the best way to get started in the industry right now.

Mind if I ask you to recommend this particular coach you using their service?

Credits goes to "Amber Dawn Brummit " one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

it’s a personal decision, but according to Forbes, housing activities will remain stagnant for the most part of the year, so maybe hold off a little.

well you could put a downpayment on a home and as well diversify as much as you can into Ai and pharm. stocks like Pfizer and JnJ.

Certain Ai companies are rumoured to be overvalued and might cause a market correction, I’d suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I.

this is all new to me, where do I find a fiduciary, can you recommend any?

Vivian Jean Wilhelm is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

Big factor is inflation. Home costs much more to build now due to inflation. Salary is catching up at much slower pace which is adding more problem. Unless we have serious deflation, which is extremely unlikely with current govt spending- house crash is hard to come. Just demand-supply formula. Supply will be low in the next many years as everyone knows. Demand is still high. The only way to boost supply is new build(will be expensive and low), and crash of economy. If blackswan happens somehow to crash economy, you will be even harder to buy home. Usually rich is the one who benefit from crash not the poor.

I agree until i realized that there are more ways to make money now than in the 1980s...i mean if you are investing in the stock market you should be making a crap ton of money right now

You're right. Interest rates are not the problem. House prices are. With inflated prices your payment is going up due to increased insurance prices, property taxes, etc. Not just your interest payments.

It’s usually only the people selling Homes like real estate agents saying it’s a good time to buy.. bad advice

@@LVH100 Yet we shouldn't pretend that if we just wait it out, prices for a basic 3bd 2ba house are going to suddenly become "normal" again. Too much money printing/inflation, too many corporate buyers, too few homes. This is the new normal, and it will keep going up, more slowly, but up.

Where? I haven't seen it in my local market. I have heard in FL this is happening tho.

@user-or4oj8bc1b I am one of them. Jackson County did not even look at all the work that needs to be done. They based it on what other houses were selling for in my neighborhood. I know of five families as of right now have not paid their personal property tax for 2023 because of the housing hike.

@@user-or4oj8bc1b Montana at large

My state just cut property tax to the detriment of education funding. 🤦🏾‍♀️ Can't win for losing

And down south insurance is thru the roof…one more bad hurricane season and we r done for🤦🏻‍♀️

Here's my comment I just posted above. Don't give up, just get creative and maybe need to put the house on hold for a bit, but there's other options to build towards that and start getting out on your own. People need to start thinking outside of the box if they really want to own a home. Lot of land for sale around me(I"m rural) but it's also gone way up in price. Buy some land, rural areas usually have less restrictions. Live in an RV for awhile on your land. Or get one of those Amish built sheds(tiny homes) and remodel it inside and live in that. It's not that difficult to do the basics yourself. Look into houseboats. Or worst case, even an RV and living at an RV park. To me that would be better than paying overpriced rent at an apartment or house. At least you'd own the land and rv, and both are valuable to some extent, though rv's generally don't hold their value. Look into different types of loans. USDA rural development ag loans will finance on homes that need repairs. Those are for lower income, but check your income levels, it's higher than you think. Look to state programs as well. Having the woe is me, there's no hope mentality will get you nowhere.

Sucks man... i am 35 and still renting. We got screwed big time, its so depressing and frustrating.

answer your own question..then go figure it out..

@@Christy.1 Best comment I've read in a LONG time!!

@@sakurakos88 I’m 22 with my own house. Just gotta learn how to invest.

💯, we should see house prices come down. I am shocked that it has not started yet.

Exactly, interest rates are not high, home prices are

@diesel104 I have in TX. That's why I am a bit confused 😕 I don't mind waiting though.

They are not gonna go down. Do you have any idea how many of us are waiting for interest rates to come down? The demand will drive prices up more then interest drops the mortgage.

Yeah, and food and gas were more affordable in the 80s.

This 👆🏻

@starfish2145, I won't sugarcoat this real-world observation. When I sell, I will discard your "buy aggressive" offer in favor of other realistic offers. Other sellers will do the same. The end result will be that you (in your opinion) will not overpay for a home. You also will not be a homeowner; you'll continue to be an asset to your landlord.

My daughter sold her house 2 offers got asking price but we're asking her to pay a percentage of the closing cost which was a substantial reduction in profit.. one of those offers were $5000 over asking . The third offer and the one she took was $10k over asking no contingencies except for home inspection and wave appraisal . The house that replaced the existing she offered asking price and accepted

@@stevencole7331you sold to either an investor or for cash then

I think that is assuming that rates will drop, I don’t think rates are dropping. They should have never been as low as they were

Nothing to do with housing.

@@ScientistPrepper everything to do with housing. think outside the brainwash parameters

You're welcome!

So telling a buyer to wait because they may not have a job the next year to the rest of their working lives, is honesty?

@@bauttiet.h.u.g.5900 it is when it’s a possibility. After all Tesla just laid off over 3k jobs in California.

@bauttiet.h.u.g.5900 yes I'm being honest. What part do you not understand?

Yes, Sherlock, you shouldn't buy a house if you might lose your job next year.

The majority of home inspections are not necessary if they are less than 30 years old. If the home's issue isn't blatantly within view of the inspector, it will not be found. People think the inspector is an expert in all home issues and will sniff them out like a hound dog. Just simply not true.

Always get inspection! Extremely necessary

Even the rates go down, who can afford the high prices if the economy turns to the recession?

​​@@thomaskim5008even if the recession comes or doesn't come. The prices are still high. The high prices are from the techies with the money to keep over bidding everyone pre covid. Nowadays, those techies are gone but the prices are up and stayed.

The data from 2006-2008 doesn’t support your assertion. Hell breaks loose when the FFR is reduced and prices coming down become “catch a falling knife”

This is market top kind of talk. FOMO and despair from people on the sidelines.

@@michellerahn if this is true then why doesn't the Fed drop rates now so prices would fall. Unless we go to war, rates need to be higher

😆

Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.

Keeping money in the bank is like paying banks and the Govemment. Here's how it works: The bank gives out your money as loan, and charge interest obviously higher than inflation rate, and then give you, the depositor, interest lower than inflation rate. That means net loss for you. That is why I prefer to invest, and on average, my advisor makes returns that always beats inflation!

)How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.

Svetlana Sarkisian Chowdhury 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..

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

A home is $1,500,000?? Where do you live?? San Francisco? One word: MOVE!

A $30,000 house in 1980 would have been some little house in some little town. You're comparing that to a 1.5m home which if the comp is SQFT and land alone must be in a beach city. Sorry you can't afford that, most people can't. But, that same $30,000 house in the same location might be $150,000 now.

will advice you get yourself a financial advisor that can provide you with entry and exit points on the share/etf you focus on.

Exactly, a good number of people discredit the effectiveness of financial advisor, but over the past 6years, I’ve had a financial advisor consistently restructure and diversify my portfolio and I’ve made over $3 million in gains… might not be a lot but i'm financially secure and that's fine by me.

How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.

'vivian jean wilhelm' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance

you two are badasses, congrats on your grime mannor labor of love

To balance out your real estate holdings, I suggest investing in equities. If you're cautious, even the worst recessions can present fantastic buying opportunities. Additionally, volatility can produce fantastic short-term purchase and sell opportunities. If you are new to the market, I recommend seeking professional assistance.

A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation.

my partner’s been considering going the same route, could you share more info please on the advisor that guides you.

She's a "Annette Marie Holt". Also maintains an online presence. Just make a simple search for her name online.

I just googled her name and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a call.

We sold our rate was 2.5 I wanna kick my self in the a** now!

This is a very good time for you to sell. You'll make lots of cash.

And when you find a home that you like in an area that you like!

Yup. High prices for pure dog shit.

It’s true though. Inventory takes a long time to rebound. Many places are changing zoning laws but it’ll still take time for inventory to increase

Correct.. there is no lack of inventory? What state are we referring to …

It's not even the inventory. Plenty everywhere. However they are all sticking with high prices even if it's not selling.

@bunyhill7485 - It's both, inventory and prices. One of the luxuries in most parts of the US people want are homes with at least a single car garage. They might not put a car in it, but they will use it as a storage unit. Those a majority of new homes are coming with a garage, you still have the older homes that are in good shape, at a price that could fit in a person's budget, that doesn't have a garage. Then you have location/school districts. The homebuyer might be living in a city like NYC where garages are nearly unheard of, but the home is in a bad/sketchy neighborhood, substandard school district or was in a zone that was a part of a gentrification effort, and the city/county change their minds, then abandoned the idea long before completion. Then you add distance from work, the interstate, and road traffic to the interstate or shopping areas. Builders in many parts of the US are attempting to take on projects, or complete projects that were abandoned years prior, but they are distant away from the interstate or major highway that requires multiple major intersections that just add multiples of major intersections that adds time and headaches to getting to work, getting to shopping areas, getting children to or from school/daycare and getting to and from work.

Crazy. Maybe you should have asked for a lot more.

@@JuniperTreeee I think because it really wasn't updated, my brother assumed it would be a tear down so asked quite a bit less than the zillow value, for example. I'm very happy about the price we got, but my mother had reverse mortgaged, so it's the bank that's making out.

No, they did exactly the right thing. Pricing to sell creates a great opportunity to start a bidding frenzy. A higher asking price wouldn’t create that bidding.

Whattttt!!! Almost 30% above. Thats crazy.

Did anybody die in the house

Yes, I agree. It's so sad to see our once affordable state turn this way. I'm buying now before prices skyrocket. 😢

Don't allow those cash buyers to buy it! I refuse to sell to investors.

Haven't seen that here in TN yet, thankfully. But I"m sure it's coming. I have watched rural land go from about 1K an acre to now 10-20K an acre. Farms, they selling guessing to companies, who are then dividing it up into 1-5 acre tracts to sell. Also seeing a lot of new small cookie cutter houses, like 900 sqft, being built on an acre, and them asking 300K for it. It's ridiculous here. My quiet rural county is going to hell.

Of course!

Thank you for sharing the Lord's blessings! We purchased our home right before COVID hit and that was such a blessing as well!

Our government and the Fed did this to us. Be mad at them, not people who are trying to make money with the changes they created for us.

@@littlebitmckee8234 oh I'm mad at them too. Literally mentioned that wages aren't keeping up with inflation. But I can still be upset at the underlying greediness of some people while others barely scrape by. With the scarcity that this very knowledgeable realtor mentioned, I hardly think it's the time for people to be hoarding housing for the sake of profit.

...not only that, you have to factor in FOREIGN investors purchasing LAND and HOUSES in "bulk"!

That's like asking people to be bad with money because you cannot benefit. I watched the market for 8 years and purchased when interest rates were low and home prices dipped. You have to be smart and patient and wise to make a good deal. Don't hate the player, hate the game.

@@teri03 you are proving my point but sure. Glad you have your home though, because that's what's important anyway. That people are comfortably housed.

This year of all years I think is the most challenging. But if you have the means and need a home, definitely jump in. Just be aware of what's going on.

You're so right!! All this media hype. Buy when you're ready - be an informed consumer and be confident in your purchase. Remember, part of being a You Tuber is to get views. I bought in the height of the market 17 years ago. Do I regret not negotiating with the seller to get a lower price and not relying on my real estate agent to guide me better: yes (I told her I'd pay full price but she never showed me comps to what market value actually was in the area). But I've owned my dream home for 17 years - no regrets there.

It’s like fishing. Don’t go where they say to go. Go where they go. They say don’t buy but they’re buying. 🤔

you'll never buy if you watch these channels😂

Jumping in 😩 It feels like all these people here to help but in reality we had to steer this ship & educate ourselves. These people don’t offer upfront info which is funny to me. So anywho Had to walk away from preferred lender option for new build home. The incentives offered are not great deals… Our 2 credit unions had better upfront info / guidance. These KZfaq also provide much needed information. We are done renting, it’s not worth it anymore long term.

You're so welcome!

Always!

Except building is more costly. Look at the prices of building materials

@@dougherendeen3241 you can build a $150000 house for $150000. Interest on $150000 to buy the same house is what, about $100000 over 30 years? Which one is really cheaper?

You can not build a house today for $150,000

​@@Jfratzthen build a smaller house. It's the land which is going to appreciate.

@@Mythicalniceguy huh?🤔

whoever bought it will be crying one day.

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!

You are right! I’ve diversified my 450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.

Wright promptly do a web check where you can connect with her *Gertrude Margaret Quinto* and do your research with her full names mentioned..

She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing..

I'm sure you didn't expect a bunch of bots to reply but remember these people got in at very low 30-yr fixed interest rates. If they can afford the payments prior to massive inflation, they will be able to afford it even with some sort of financial issues going on. This has all happened before and foreclosures were negligible. The only time it wasn't is when people were lent sub-prime ARM mortgages and they readjusted after 3-5 years.

Glad it was helpful!

Glad you think so!

Just got our mortgage last march with interest rate of 4.5%

When you say "asking" do you mean like on Zillow? I heard Zillow comes very close to the correct price at close.

@@dialecticalmonist3405asking price just simply means sellers listing price on the mls.

No most likely they work for the government or government contractors. They’re abusing our tax payer money

The Zillow Zestimate isn't the asking price, it's what Zillow is estimating the property is worth.

@@KiraBKADestroyerOfWorlds Well "what it's worth" should be 100% dependent on what people are willing to pay, ie, "asking price". So Zillow should be estimating the "asking price" if you want to call it that instead.

As soon as the tech bubble bursts the state will regress to what it was in the late 1980s Washington is one of the biggest shitholes in the country

Cash is king every time💯.

Where do u live dang

Doubt. Buyers can pay their agents. It's not the seller's job.

We definitely need good for sale by owner sites. Zillow turned into a proxy for agents. I would happily go directly to a buyer.

@littlebluefish6606. I'm selling a property within the next few months and I'm definitely doing that. Why should the buyers have to pay? If I'm getting a decent amount for my home, why wouldn't I want the buyers to be happy?

@@maketheconstitutiongreatag5038 The Seller is paying the Buyer's Broker to bring the Buyer to the home and to help the Buyer facilitate the purchase. They are in effect working for the Seller to get the Seller's home sold. So paying the Buyer's Broker is just a part of the sales cost. Brokers are not going to show homes that have no payment for the Buyer's Broker as most Buyers are tight on money and and most won't be able to pay the additional Buyer's Broker fee unless it can be rolled into the loan. I see this hurting both Buyers and Sellers in the long run and home prices will not come down. I am not a fan of NAR but government meddling in the fee market typically hurts the consumer.

I live in the PHX area, and our house was being blackballed by buyer's agents because we were not paying a full 3% to the buyer's agents. We pulled it off the market and decided not to sell in this upside down market. This new law is already implemented by most agents nationwide, and here, agents are already asking buyers to sign agreements and pay them a full 3%. And if the buyer refuses, they are telling the buyers that they will only show them homes where the seller is paying the full 3%. This is stalling home sales here even more. Buyers in our area do not make the income to afford the cost of homes, and they cannot afford to pay commission on top of overvalued homes. Our area is now experiencing a huge drop in sales while inventory piles up. There are very few cash buyers, as they are nervous and waiting. The majority of buyers are FHA or VA loans, and they are lowballing the homes they view. And so, many sellers homes are not being shown and buyers are limited at what they can view since they cannot afford to pay commissions.

People still buy...

Keep saving

We had same problem here in AZ, near PHX, we could not sell our home and removed it from the market. And our home had tons of interest and was priced very well. Buyers just got cold feet and walked away.

No one is buying because your houses for sale are overpriced and fraught with problems.

Yes, news and numbers show TX, FL, TN, and AZ having jumps in inventory, while sales are flat.

I’d be happy to connect you with someone. Email me at jackiebakersellsnj@gmail.com

Seeing that in North Jersey too

That's everywhere

You are so welcome! Good luck with your home purchase!

As of now, we don't know 100% what's going to happen with the realtor commissions. That decision may be coming in July from the courts. The sellers will still be able to offer the buyer agents commission if they want. I think what may happen is if this comes to fruition, home prices could come down as buyers will be offering less to make up for the fact that they have to pay for their agents. It's just my thought, I'm not saying it will definitely happen. I think this will have an impact on the housing market.