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The FED Said Take Housing To The MOON:
Before Your BUY A HOME In 2021 – WATCH THIS VIDEO
0:00 – Video starts
2:57 – What is causing bidding wars
6:05 – Buying a home with no contingencies
9:21 – How to find below market deals
15:31 – Show you have the cash to close
16:45 – Make an enticing offer
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38 comments
I got a below market value property that was 3 bed 2.5 bath with 2000 sq ft and got lucky because the house had bad pictures!! Appraisal came in 25k above and went up 70k since. The owner was an investor in the army overseas and didn’t want to deal with renters anymore. I got closing and escro fees paid for. And offered a lower price than list by 5k
Luv this guy ❣
one thing I did to snag my most recent house was to use expiring offers. I offered 5k ove asking with closing costs covered by seller but offer expired in 24 hours. got it the same day and this was in a hot neighborhood
I would imagine larger homes will not be built and well see a spike in new construction on smaller homes built at a faster pace similar to the 50's/60's era
SO glad we bought in January. It's gotten super crazy since.
Save the cash for the crash.
The issue is this market doesn’t offer… a little work type houses, it’s basically bidding war or buying an almost condemned home! SoCal. Ooof…
Writing a personalized letter didn’t work for me. I wrote a letter on how I was going to take care of the house and bought the guy a 6-pack of beer too. Good thing he didn’t accept my offer because a 10 months later, I bought a new constructed home.
You need to buy a home you can afford. The best advice in the video. Oh and don’t overpay
If inflation sticks around not only will houses stay high or go even higher but your rent is going up also. I'm thinking prices will stabilize and lower slightly once more inventory hits
They should get rid of Agents.
Buyers should just get a lawyer and deal with the Seller directly. Agents are also responsible for high rise in housing prices. Buying a house is really not too complicated but Agents make it seem like a scary process so that individuals won't be tempted to go into the process themselves.
Don’t buy a house right now. Worst time to buy.
Just bought a brick 3bd 2bath home in Houston, TX priced at $175,000. Appraisal came in at $162,000 so seller went down to $170,000. After my down payment and applicable fees, I owe $153,900. Very happy! I’m 23 and have been renting since I was 18 (college). No more renting for me!!
Don't buy houses now wrong time to buy now. Crash coming
is it even ethical for an agent to lower the house price to lure the home buyer knowing that the price is not the actual selling price? buyers don't know that, do they?
I'm a Texas Realtor and even to find an inspector you need to pay them 800 bucks to have them inspect a property, if you get lucky to have one the same week. This market is not hot, is crazy!
Hello Jespreet, I believe in Market Cycle and correction. What's your thought on correction?
When you say "got the money in the bank", do you mean a checking account or just money available to make the purchase, like stocks?
Yes I sold my house 2 years ago and my townhouse last year mid pandemic and I got in both occasions a letter and way over asking price lucky for me I bought one of my properties back in 2014 and 2017 so I came out winning big on both, honestly o never thought I would get nearly 300k for something I paid 140k 6 years ago but that’s the market and I’m sure it will repeat itself, really 2020 was suppose to be the crash but the feds decided to leave that issue for a later time
Sat Sariya Akal. Thank you for the video.
discipline weigh ounces, regret weigh tons, perfect example of regret later for no inspection!
It's got to crash, history will repeat
I’m so done!
Minority mindset I think I subscribe @100k congratulations on 1M subs.
hello, are you in california?
Only fullish person will buy house today.
I agree with you. Two months ago there were 85 people trying to buy 7 individual townhome units (single building) in Woodstock, GA. The builder raised the prices by $60,000 for the next building and now there is no longer a waiting list for his next building of seven townhomes. We spoke to the agent yesterday that is on-site and she said that when someone comes in she can sell them a home without having to go on a list, she can write the contract the same day. We spoke to her for 2 hours and not a single person walked in the door to tour the model. Two months ago when we first met with her, there were 15 people that came through during the hour that we were on site. The low interest rates pulled a lot of buyers forward into 2020/2021 and now the people squarely in the camp of "I will wait for the next crash," are not going to buy. Compare it to the vaccine, long lines initially, and now it is walk right in, you don't need an appointment, get your vaccine in less than three minutes. When the vaccine was first approved, it pulled everyone that wanted the vaccine to wait in long lines for hours. Now the people refusing the vaccines are sitting on the sidelines. The housing market, much like the vaccination market, pulled people forward, and now the sideliners are waiting for the next crash, or in the case of the vaccine additional data.
Please make a video on condos and townhomes too. The things buyer should know, inspection, extra costs, insurance coverage, location if buyer wants to resell. Thank you
Most if not all homes in my area have gone to holding all offers until it's been on the market for a few days. This also adds to the hysteria and of course the bidding wars. So being first doesn't mean much at all.
BELOW!!!!
Good advice, and those love letters to sellers really work if they're allowed in your market area!
Idk about US but in Canada if you made a certain amount during the stimulus period you didn't qualify for a check for that period. Many people took it, many have to pay it back. It also is taxable, pushing your buddy's bracket up potentially. I'd be surprised if he doesn't have to give it back.
peace
15:14 BELOW
15:24 BELOW
Lumber is up 300% +
Drop that like button, BELOW!
Thank you for the education. !! We live in a “microwave” /ready made society, I like the fact that one can find a decent property , envision it. Being greater because one is willing to INVEST time into it.
What do you think about using your 401k to payoff your mortgage?
If people are stupid enough to compete to buy homes at way over their asking/true-value, then let them off. Personally, I will wait and not buy at all if this continues.