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@duncanhsia 8 минут бұрын
I’m a mortgage broker in Honolulu, and I use ChatGPT and AI all the time. I run the Honolulu ChatGPT meetup. I closed a deal last month using ChatGPT to draw up some letters to help resolve some disagreements between the buyers and sellers, and have used it for translating documents and have used AI tools from lenders that have been very useful. Times are changing! Great content!
@alleng012985 51 минут бұрын
Shiiiid....you better come to Texas. Ain't no way all these Hispanics doing all this hard a** work for these low wages legally. Texas still pays low wages
@wh00tie54 19 сағат бұрын
Is there a time of year that is better to purchase a home?
@TheEducatedHomebuyer 10 сағат бұрын
There are pros and cons to just about any time of the year. During the holidays through January, there are less homes on the market to choose from but also less competition from other buyers. We like to point out that the majority of appreciation occurs during the spring/summer buying season meaning homes will be more expensive by July/Aug and then relatively flatter through to the next spring buying season. If you are ready to buy today, there's not much benefit in waiting until some ideal time of year. Hope this helps!
@JohnnyJolter69 Күн бұрын
It all STARTS with ENERGY. Bring the energy costs down and everything will follow
@linger4605 Күн бұрын
Wrong. Think about it logically for just one second. It's much more expensive to ship things from other countries, yet America relies completely on it It's labor costs. I don't know how many decades you need to see that. Every single company goes overseas to avoid paying American wages/benefits. If it were "energy costs," then they'd do everything in their power to avoid spending on it, but these companies would rather spend more on energy costs to avoid being in America
@TheEducatedHomebuyer Күн бұрын
After the post covid spike normalized, energy costs haven't been a consistent source of inflation. Energy costs are volatile but over time have seen very little inflation. tradingeconomics.com/united-states/energy-inflation
@troycantrell1549 Күн бұрын
There are no jobs available in my area, economy is terrible,Maybe his ideas are better for the economy
@linger4605 Күн бұрын
If prices don't drop on practically everything, then Republicans will lose in 2026 and 2028. People are done waiting for either party. Slightly higher prices is guaranteed death. Telling people "it's just not realistic" won't work.
@TheEducatedHomebuyer Күн бұрын
That would be deflation which the United States hasn't experienced since the Great Depression. You may think you would like to see deflation but in reality, you don't. An extended period of disinflation is the best we can hope for as price increases moderate while wages catch up.
@linger4605 Күн бұрын
@TheEducatedHomebuyer Do you realistically think wages will go up? I mean, everything we've seen says no. Also, say wages do go up, wouldn't these companies simply raised prices again to make up for that?
@TheEducatedHomebuyer Күн бұрын
I'd avoid using phrases like "everything we've seen" when all data shows incomes increasing at an above trend rate in both nominal and real terms. This is one of the big concerns the Fed has with the current low unemployment rate, that wages will continue to increase above trend, causing wage based inflation and keeping interest rates higher for longer. www.atlantafed.org/chcs/wage-growth-tracker fred.stlouisfed.org/series/ECIWAG#0
@TheEducatedHomebuyer 5 сағат бұрын
@@linger4605 Yes, wages are likely to continue going up just like they have been over time. Most people don't feel like they're making more because the cost of goods has also been going up.
@dixielandproductionco.6989 Күн бұрын
Great information thanks for the notification smashed the thumbs up good stuff
@CrackpotInvesting Күн бұрын
Life was much better for my pocketbook under trump.
@linger4605 Күн бұрын
Thank Obama for that. He literally inherited 8 years of the Obama economy.
@linger4605 Күн бұрын
You can thank Obammy for that. Not really an accomplishment if you get a massive head start 😂
@rodneypatterson5648 Күн бұрын
I laugh at the tone of conversation. What happened to Trump is going to fix housing/ mortgage rates?….suckers
@Homebody768 2 күн бұрын
Thank u. For the info. Makes me def not listen to them.
@derby7776 2 күн бұрын
Why put 20 percent down when you can wait a year or two and have property value assessed to possibly eliminate PMi? Keeping your cash to invest elsewhere.
@TheEducatedHomebuyer 2 күн бұрын
It's a personal decision. Some people can only get to a comfortable payment by making more than a minimum down payment. If we were just operating by a spreadsheet, the long run numbers tell us to buy as much house with as little down as possible. That may not always be the case.
@TheWrathofnumenor 5 күн бұрын
This doesn’t make him wrong. The issue is that pay has not kept pace with inflation and appreciation of housing, particularly in expensive markets. Part of the reason why prices have exploded on homes is because of the 30 year mortgage itself. It allows people to borrow more and buy more house or pay too much for a house that they likely do not need.
@TheEducatedHomebuyer 2 күн бұрын
If the 30 year mortgage was the cause of home price inflation, it wouldn't have taken 70 years to become an issue. The 30 year is optimal in terms of minimizing the payment while also building equity through reasonable amortization. Up until 2019, affordability had gone through peaks and valleys with a slow trend towards lower affordability. That all changed when the government pushed rates too low and kept them there far too long. The spike in prices has locked many out, and many in since they are unable to afford a move.
@TheEducatedHomebuyer 5 күн бұрын
✅ Connect Directly With Our Team - www.theeducatedhomebuyer.com/expert ⏩ These TRUMP Policies Will Have A HUGE Impact On House Prices - kzbin.info/www/bejne/mqqUo6FjepdkoLs ⏩ Do NOT Buy A House - kzbin.info/www/bejne/a6nCdaCjntdol8U ⏩ How To Choose A Mortgage Lender When Buying A House - kzbin.info/www/bejne/rYHFdYqGaKebd7M
@jefthe1 6 күн бұрын
This economy is not working for Americans. I earned 100k a year and I can’t afford a home. That doesn’t make any sense.
@TheZeedler 6 күн бұрын
Duuuude, I have a great place under contract. Assumable loan... but there's an $80k gap in the assumable loan vs. purchase price. What the hell can I do??? 0 lenders are willing to lend on this... it's a 300k house selling for 250k... I need HELP! Located in FL.
@TheEducatedHomebuyer 6 күн бұрын
What type of loan is the 1st mortgage, FHA or VA? Do you have any $ of your own to put towards the gap? There are lenders that will provide a 2nd mortgage to cover the gap but most will cap at 90-95% combined loan to value.
@j.van-history 7 күн бұрын
It's all about price. On the sidelines waiting for now... but the prices are way too high for what's out there. It's just not affordable.
@TheEducatedHomebuyer 7 күн бұрын
It's a personal decision. You have to be comfortable with the payment. If you aren't, then it's absolutely the right call to hold off on buying.
@wreckim 8 күн бұрын
My co-worker just bought a brand new home in Santa Paula...the builder was very aggressive, and gave a 4.9% mortgage to sell the home the them. The loan actually starts out at 2.9, then 3.9 and finishes at 4.9. I haven't heard of this stuff since 2008 etc..
@TheEducatedHomebuyer 7 күн бұрын
Builders have been heavily incentivizing with financing concessions ever since rates spiked in 2022. It's a big reason why new home market share is 3x what it was in 2014. Builders are still hitting 20% profit margins after 3-5% financing concessions.
@vccbe99 8 күн бұрын
Dude's, you have been continuing to gas light the viewers. 1 simple argument. If there is so much demand in the NEW housing market, why the heck does DR Horton and Lennar - the top 2 builders in the US have "black friday deals"? Like New houses are a kin to shiny TV's or some fancy blanket sales at the Mall or big box retailer. One does not need any details like, oh, these builders are ONLY discounting rates, or these builders are trying to move inventory by offering incentives. Anyway, any or all of your explanations ONLY run CONTRADICTORY to your statement that things in the NEW HOUSING MARKET are GREAT. If they are so great, WHY are the Top 2 Builders or any Home Builder in the US offering "BLACK FRIDAY" deals. Has the public seen "Black Friday" deals for New houses in the past years. Can you name them or provide any evidence of that? You fellows are part of the industry and are the problem. Continue to gas-light people into buying things they cannot afford.
@TheEducatedHomebuyer 8 күн бұрын
Yes....all of the companies that flooded your inbox with Black Friday/Cyber Monday offers are on the verge of going bankrupt....otherwise they never would use such marketing tactics....thanks for enlightening us and saving our audience from the impending crash! Much appreciated.
@vccbe99 8 күн бұрын
@@TheEducatedHomebuyer Wow, such an arrogant reply. Its not surprising for the so called "non-doomsday", "macho/bravo" bros who keep gas lighting housing market (this includes the paid puppets at CNBC etc.) see everything other people say with cynicism. Dude, there is a HUGE DIFFERENCE, I repeat HUGE DIFFERENCE between getting a mobile phone or a Flat screen TV on Black Friday Deals VS. a BRAND NEW HOME. You have conveniently NOT ANSWERED the question. How often does any one see Black Friday Deals on BRAND NEW HOMES from TOP BUILDERS. If everything is "hunky dory" in "NEW Housing" land, why are the builders having "Flash" sale or Black Friday deals to everything in between. Where is your so called "DEMAND". BTW, my point was NOT about HOME BUILDERS going bankrupt, you are completely misreading things.
@TheEducatedHomebuyer 7 күн бұрын
If you yell it in all caps, it makes it true....if you watched the space at all, you'd know the "black friday" sale is no different than the incentives they've been offering for over 2 years, just with a fancy name.
@colethomas1737 8 күн бұрын
National debt, household debt, corporate debt, credit card debt ALL at insanely high levels. The DC deep state MUST keep Trump out and their only 2 choices to do this are nuclear war or destroy the economy/dollar. Nuclear war means they die so that is out. Total collapse they can do at any moment with debt levels so high. They will do this soon. Biden pardoned son now he will resign. Harris as POTUS 47 will do Martial Law when economy collapse which will stop the innauguration. But that will bring all out war nationwide. Get ready for historic times
@TheEducatedHomebuyer 8 күн бұрын
👌 Come back in 60 days and give us an update.
@seanblvt 8 күн бұрын
The fed can't lower rates any further when there is an overabundance of well qualified buyers and investors ready to pounce. They will continue bidding up higher prices which is going to further drive up core inflation. Claiming that rates will normalize much lower than what they are now sounds like a pipe dream. Rates aren't even high right now if you look back in history...
@TheEducatedHomebuyer 8 күн бұрын
Time will tell. The Fed doesn't look at home prices or sales volume when setting policy, just inflation and employment. If shelter costs keep inflation elevated, rates will stay higher. Tough to support an "overabundance of well qualified buyers" when sales volumes are at 30 year lows. It's quite likely we continue to see the downtrend in rates through 2025 as economic growth slows. Again, time will tell.
@benwhite2007 8 күн бұрын
Scam - a dishonest scheme. Not really. I have a heloc and have positive monthly cashflow. Also get bonuses and commissions throughout the year. I typically use the bonuses and commissions so I don't want to put it on my mortgage so it is gone. Essentially I am able to make every penny work for me throughout the year using this strategy. It is a significant savings for me. There are other strategies but this one is working great. I am protected against higher interest rates. Also this does not only have to work for mortgages. This strategy can be great for debt consolidation. Misleading title and short-sided thinking.
@TheEducatedHomebuyer 8 күн бұрын
Feel free to watch the video....your scenario is one of the few where it can actually work. Unfortunately, most of the people that fall for the scam pay money to "learn the system" before finding out they aren't in your situation.
@benwhite2007 8 күн бұрын
@@TheEducatedHomebuyer thanks for replying. Did watch, and got some good information out of it. appreciate it.
@luisa8985 8 күн бұрын
Isn’t buying down the rate lowering the price indirectly? They just want don’t want the home market prices to drop. So they’re putting out incentives. Either they lower prices to accommodate higher interest rates or the interest rate down themselves.
@TheEducatedHomebuyer 8 күн бұрын
It's a concession but the concession in rate is preferable to both the seller (the builder) and the buyer. The seller isn't faced with cutting prices and angering earlier buyers and the buyer gets a much lower payment than if the price were cut.
@luisa8985 8 күн бұрын
@@TheEducatedHomebuyer So who would be buying down the rate? Would it be the builder? Or is there some type of state program that is funding these rate buy downs?
@TheEducatedHomebuyer 8 күн бұрын
The national builders pay for the rate buydown through their wholly owned or affiliated mortgage companies.
@rexflexall69 8 күн бұрын
You have any advice for a possible 1st time home buyer in Las Vegas (yes I'm in my mid 40s), where my spouse and I are both retiring from state jobs with pensions in less than 9 years - but are currently in a smaller 1800 sq. ft. 2-story, older (22 year old) home with very low HOA ($150 a YEAR) in a fairly good part of town? My now wife purchased the home in the early 2000s for a great price back then before we got married (we have built around $300k in equity), and we are nearly done with the mortgage (should be paid off right before retirement). We are on the fence in the next 2-3 years - we want to get a newer single-story home so we have no stairs as we get older...but many of the homes of this type are fewer in number for purchase and from what we have seen so far majority of them are priced high with high tax bills, and are in areas with significant HOA monthly dues. We noticed with these newer homes the backyard space isn't nearly as much as we have with our current home, newer lots seem smaller. I'm not sure if we are ready to take on another mortgage for 30 years in retirement, although we would keep the house we are in now for a long-term rental to offset the cost of a new home. Our other option into retirement was to take a rehab loan out of about $150k-200k to fully redo our current home with some needed repairs, TLC, and modern amenities to make us comfortable. We feel the payment in retirement may be lower and more manageable for us to handle. Of course this would mean we may never be able to move again to another home. I know it's a lot to ask and I apologize, but it's a big decision we don't want to make a big blunder on. Any wisdom on what may be the smart move in our current housing climate? Thanks!
@TheEducatedHomebuyer 7 күн бұрын
Based on your detailed situation, here's our perspective: Given your circumstances - nearly paid off home in a good area, significant equity, and approaching retirement - your best financial move would be to stay and renovate your current home. Here's why: Taking on a new 30-year mortgage just before retirement would significantly impact your monthly cash flow, even with rental income from your current home Your current home has advantages that are hard to replace: ➡️ Extremely low HOA fees ($150/year vs likely $200+ monthly for newer homes) ➡️ Larger lot size ➡️ Established neighborhood ➡️ Nearly paid off mortgage A $150-200k renovation loan would allow you to: ➡️ Add aging-in-place features like a first-floor primary suite ➡️ Update and modernize the home ➡️ Address needed repairs ➡️ Keep your favorable location and low carrying costs ➡️ Have a much lower payment than a new mortgage on a $500k+ home The scenario where moving might make more sense is if renovating wouldn't adequately address your needs (like if adding a first-floor bedroom isn't feasible). In that case, you might consider selling and buying a single-story home, but I'd recommend doing this before retirement while you still have employment income. Shoot us an email if you need any more feedback: [email protected]
@rexflexall69 6 күн бұрын
@@TheEducatedHomebuyer thanks for the detailed advice guys! My wife & I have some things to think about! One great advantage to our current home now is that the master suite is actually located on the 1st floor! She was thinking ahead on that one when she purchased way back then. You have got a new sub, I hope to learn more along on this home journey! You can guarantee we'll keep watching the channel and probably shoot you an email (or 10) too!
@bryanc1177 8 күн бұрын
These 2 guys also voted for Kamala thinking she be better for the country so take their advice w grain of salt
@colinvanwinkle3000 8 күн бұрын
Did the vaccine comment trigger you
@TheEducatedHomebuyer 8 күн бұрын
🤣🤣🤣🤣 It's funny how 10% of the viewers are convinced we're far left, blue state, ultra progressive liberals....another 10% is certain we are Ultra MAGA Trumpers. Which group you fall in tells you far more about yourself than it does about us. Thanks for watching.
@ShawnSnow75 8 күн бұрын
@@colinvanwinkle3000 If you supported the clot shot, then you definitely voted for Kamala. Explains a lot.
@SluTubeTV 6 күн бұрын
All Yall craxy thinking there’s 2 Americas y’all better learn how to collab wit one another .. dummies
@rickysilver1479 8 күн бұрын
I think eventually new home prices would have to drop, unless new home builders are just going to roll the price of the rate buydown into the MSRP. Perhaps that will just continue indefinitely. Could see a scenario where existing homes have to adjust pricing. Eventually buyers will wake up to the fact that it's essentially the new/used car phenomenon where you can get 0-2% financing on a new car, or 7+% on a used car at a comparable price. Add in the fact that one product is brand new, with a warranty and one is not, and the choice is obvious.
@beyondthunderstick1578 7 күн бұрын
I'm a builder. You cannot build a new 2000sf home ANYWHERE, NOT including land it cost $200k to build, than I mark up plus cost to sell ect I'm at $300k on just the home no land cost.... labor is getting scarce in the trades and so more expensive. Materials came down a little from covid but will never return to pre covid prices. Inflation. Stole all our wealth.
@eccentricccc 8 күн бұрын
When was the last time we saw a major city like Austin take a double-digit dive in real estate prices? Go ahead, ponder that one-I'll wait. Spoiler alert: it hasn't happened in 11 years! This is like the housing market waving a giant red flag, and people are just scrolling past it like it's another cat meme. "Oh, it's just a few areas. No big deal. Nothing to see here." These folks wouldn't notice the Titanic sinking even if they were the ones steering it into the iceberg!
@wreckim 8 күн бұрын
But inventory is still historically low, and the market has self-corrected often during the last decade. We don't 'know'.....but RE prices can at most see a small correction it appears.
@beyondthunderstick1578 7 күн бұрын
I'm in Austin even with the cuts it's still way higher than it was. This is an adjustment it cost too much to build for you to see affordable houses anytime soon.
@darksideofthemoon19 8 күн бұрын
I ask if there was any promotion or buy downs at a new build since I saw most of the initial phase houses are now being sold by investors. Instead I got laughed out of the room and was shown their deal is having an extra room for 1.7mil now. 😅
@TheEducatedHomebuyer 8 күн бұрын
The builders have better data than just about anyone. If they aren't offering incentives, it means they don't need them to move the product. If you read/listen to the quarterly earnings calls for the big national builders, they're very open about using dynamic incentives to make sure they aren't sitting on homes. In one part of the country, you may get a great concession package. In another part of the country, or sometimes even the same state, you may not get anything.
@slurrpboi9647 8 күн бұрын
Resale, and refinance are the keystone of the market… without this…. new home sales don’t have a chance…imo…😬
@slurrpboi9647 8 күн бұрын
Location loca, L… is paramount in this “new” normal…
@dixielandproductionco.6989 8 күн бұрын
Good stuff guys smashed the thumbs up 👍
@TheEducatedHomebuyer 8 күн бұрын
Thanks 👍
@dixielandproductionco.6989 8 күн бұрын
@TheEducatedHomebuyer your welcome the knowledge you guys share is priceless 😀
@TheEducatedHomebuyer 10 күн бұрын
✅Connect Directly With Our Team - www.theeducatedhomebuyer.com/expert ⏩Mortgage Interest Rates Will Stay HIGH - kzbin.info/www/bejne/eYqTaJuYlJuLjrM ⏩The Housing Market Is About To SHIFT - kzbin.info/www/bejne/l6fNdpx3ntdoq5o
@Ellis1127 10 күн бұрын
Great show and detailed analysis! 👏👏👏
@TheEducatedHomebuyer 8 күн бұрын
Much appreciated!
@melanieabbondandolo481 11 күн бұрын
A gift check deposited into an account for 30 days before close make a difference?
@TheEducatedHomebuyer 8 күн бұрын
Yes...you will need to explain and source any large deposits (more than 50% of monthly qualifying income) if the funds are needed for closing. If they are not needed, they can typically be backed out with an explanation of where they came from including confirmation that no new debts were incurred. Hope this helps!
@Heather-db6wq 11 күн бұрын
Sure Jan….
@seaxofbeleg8082 12 күн бұрын
Reventure Consulting's mom! 1:00:20
@manuelwallace9682 13 күн бұрын
Happy Turkey Day. Look forward to speaking with you tomorrow. Love your content.
@TheEducatedHomebuyer 8 күн бұрын
Thanks for the support Manuel! We appreciate you.
@Omarfx007 13 күн бұрын
Happy Thanksgiving Amigos 🙏
@MichaelAdamo-s8d 15 күн бұрын
Go to Florida or Texas the real estate inventory is thru the roof
@mistaj24 15 күн бұрын
In my area, those agents you’re recommending are typically the best marketers, not necessarily the best at knowing the contracts and required documents. On top of that, they are also the ones in front of a judge or in the cross hairs of the BRE. So no, can’t count on those that have high volume sales to be a preferable choice.
@dixielandproductionco.6989 15 күн бұрын
Thanks for the notification smashed the thumbs up a good agent is priceless
@TheEducatedHomebuyer 16 күн бұрын
✅ - Connect Directly With Our Team - www.theeducatedhomebuyer.com/expert ⏩ 5 Questions You Have to Ask Your Mortgage Lender Before Getting A Mortgage - kzbin.info/www/bejne/poOsgZdnZdurZrc
@Stan-x1t 16 күн бұрын
This is how it works. They charge 1000 bucks for workshop X 100 people = a gross of 100K. They split up the money and then plan their next Workshop, and make Vids of course!
@TheEducatedHomebuyer 15 күн бұрын
😂😂😂
@PostprandialTorpor 18 күн бұрын
Sounds like we just need to reduce CEO pay.
@TheKwill32 19 күн бұрын
It’s only a scam if u you are giving your money to someone with no results
@TheEducatedHomebuyer 15 күн бұрын
Correct!
@Shellie-gurl 19 күн бұрын
Simple solution you have to be a US citizen to buy
@TheEducatedHomebuyer 15 күн бұрын
What problem would that solve? The lack of supply isn't being caused by non-citizens snapping up all the housing stock, especially entry level homes. Non-citizens have a much harder time getting financing and generally make up a greater percentage of luxury homes than first time buyer properties.
@tylersouthcott3359 20 күн бұрын
Could be wrong but I’m pretty sure Rameys 25% rule is based on gross not after tax
@TheEducatedHomebuyer 15 күн бұрын
Here it is directly from his website: Dave Ramsey recommends following the 25% rule-remember, that means never buying a house with a monthly payment that’s more than 25% of your monthly take-home pay on a 15-year fixed-rate conventional mortgage. www.ramseysolutions.com/real-estate/how-much-house-can-i-afford
@YuniethLang 20 күн бұрын
I guess we can argue that I would prefer illegals to be deported and suck up the higher cost of living for a peace of mind of undocumented criminals off streets and outta of our country.
@darksideofthemoon19 20 күн бұрын
I have no Walmart nearby to drive to and I rather keep it that way lol 🤣
@TheEducatedHomebuyer 15 күн бұрын
I didn't know that was possible in the US.... 😂
@virginiaarrieta8145 20 күн бұрын
TRUMP US GOJNG TO KILL REAL ESTATE WAIT LOOK AND YOU SEE IS COMING. JUST LIKE IN THE 80S.
@TheEducatedHomebuyer 15 күн бұрын
Yes, the 1980's. A terrible time to own real estate when the median priced US home went from $62,900 to $121,500 in 10 years. Those poor folks that bought in 1982 are still stinging from that decision.
@Annd75575 20 күн бұрын
I worry about the resale on those smaller homes with just 1 car garage. I guess it depend where it’s located. Being in Texas I think that’s a bad idea.
@TheEducatedHomebuyer 15 күн бұрын
It's an interesting concept and time will tell. I think younger buyers are more open to smaller homes at lower price points but we will see. Builders are definitely testing the theory.
@jasonp177 20 күн бұрын
Mindset 4 being here, u guys give valuable info & always need to stay in the loop & b prepared 4 any situation
@TheEducatedHomebuyer 15 күн бұрын
Thanks for the kind words. We appreciate your support.