Foreclosure or Bail Out? Buy Now or Wait for Disaster?

Housing market continues to tumble. Buy now, or should you wait for further price reductions? Americans are still needing financial assistance to pay their mortgages.
Todd Sachs is a Maryland Real Estate Broker and not a Lender, CPA, Attorney, or Financial Advisor.
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#housingmarket #recession #foreclosure

[@HandcraftedintheFoothills]

We need to STOP PRINTING MONEY it's why we have out of control inflation

[@danbiss87]

Its not the printing of money, its the misappropriation of money by big daddy.

[@cindyonyoutube]

Good points, as always. I bought a home in the 80's with an interest rate of 13%. But the house was cheap, so it was still affordable. Now, even though inflation is out of control, I don't see how they can raise the interest rates to double digits, because of the really terrible effect on the country's debt/deficit.

[@priestbrooklyn1094]

💯 my parents paid $45k paid 13% 1978. Sold $700k 2004

[@TeresaJeanna]

@@priestbrooklyn1094 what city did they live in that had $700K homes in 2004?

[@melissahouse3488]

@@TeresaJeanna Only a liar or a blowhard would brag at a time like this. I see a lot of comments on video's that are lies/falsified, intended to generate comments for a variety of deviant reasons that doesn't benefit us so I ignore the comment section much of the time.

[@lcr2382]

@@priestbrooklyn1094 smart parents !! Good for them !

[@Paper.Power.Politics]

“If the American people ever allow private banks to control the issue of their money, those private banks and corporations that will grow up around them will deprive the people of their property until their children wake up homeless on the continent their fathers conquered” Thomas Jefferson

[@marierejoiceinjesus3846]

“If our Nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good makes the bill good also. The difference between the bond and the bill is that the bond lets money brokers collect twice the amount of the bond and an additional 20%, whereas the currency pays nobody but those who contribute directly in some useful way…” -Thomas Edison, NY Times, Dec. 4, 1921

[@Paper.Power.Politics]

@@marierejoiceinjesus3846 “It is well That the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” Henry Ford

[@danbiss87]

Homes are overpriced and we are at risk of going into a recession/depression. The answer is flat out don't buy otherwise you'll be stuck in an over valued home that you can't get rid of if needed. Like if you lose your job during the next recession, become delinquent and to top it off can't sell. Dont rush, just hold off from buying for a couple years

[@shirinshaikh9268]

Amen for the small landlords!! As least you can negotiate with them. If it was not for them , there would million more homeless people. It makes much more sense to rent when don’t have hundreds or thousands of dollars just sitting in your bank account. This video is very much on point!!

[@melissahouse3488]

Absolutely!!! The extremist left mentality that all landlords deserve execution is the stupidest mentality going!!! These are the folks preferably to rent from if you must. I guess these daft liberal extremists prefer corporations that are about nothing but sky high & beyond GREED!!! The idea that landlords should automatically be hated & prosecuted simply because they own, that's absurd not to mention discrimination and again DUMB because it's ASSuming all those that have another property are wealthy, heartless, worthy and deserving of ridicule & hate. I guess they prefer millions out on the streets?!? I put food money away to save and truly sacrificed, had no car, certainly no phone or cable, and wanted to work my way through an LPN program. It's disgusting but many believe landlords are evil and deserve everything terrible in the world when I am likely poorer than they are and in my state landlords are raped!!! These jerks who hate regular people renting out a place need to pay to restore a property from horrendous destructive damages, pay to remove and STORE the tenant that skipped out on you's stuff, pay to file for court proceedings, you aren't a landlord but a baby sitter to for reckless dead beats who destroyed your home you cared about and did desperate things to achieve. Liberals NEVER have their "ideals" correct or their "sympathies" straight!!!

[@cherubfyrepeace6902]

Try needing minimum of $100,000-$125,000 in Massachusetts to put down on a house. Even a first time home buyer

[@tresboujay]

Welcome to the Hawaii Life ☺️

[@aprilwoo5073]

Low interest rate compared to years before. But very high price ever. Affordability plays a crucial role in social stability

[@downundertruckerusa4733]

I so love your honesty. There are so many agents out there telling folk it's a great time to buy, these agents are moraly bankrupt

[@TheHensonEffect]

I practice real estate in the Metro-Detroit area and have been since 2011 at the tail end of the 2008 housing crisis. I primarily deal with investor and investment style real estate and I have been warning ⚠️ property owners now is not the time to buy. Adversely I have been telling my clients that bought back at the bottom of the market a decade or so ago, if you wanted to sell and exit their position on any of those properties they might want to do so, sooner than later.

[@rodneyfranks2726]

You guys always have great information appreciate the work you are doing.

[@SachsRealty]

@Rodney Franks Appreciate you 🙏

[@TheMaggiemay77]

If all realtors were like you the world would be a better place! Thank you for your excellence!

[@samanthaporter6662]

I have been waiting to buy, I hope it will be perfect timing in about 20 months ....

[@jafrasar1]

Paying my rent is exactly what I did with the stim money.. didn’t run out and by an LV purse- because where would I actually go with that ‘LV purse’?

[@TeresaJeanna]

Mr Sachs, I have a question. I've been seeing on redfin recently these properties that were sold in April 2022 at top dollar go back on the market in June 2022 with asking prices slightly above what they just paid. Why do you think this is? Two to three months is a pretty short turnaround and the modest increase in asking price compared to what they paid suggests these aren't flips.

[@danbiss87]

Investor home purchases were through the roof over the past couple years doing exactly what you mentioned (buying/relisting). Investors are going to start liquidating and many of them are going to start losing their shirt. Watch the inventory start climbing as investors pull out.

[@jafrasar1]

Just saw a 2/1 condo in Reseda, CA- listed by Redfin- with no garage parking-not even carport-in the HOT San Fernando Valley - but street parking on a street where lots of apartments . Renovated/purchased in April ‘22 and now back on the market with a price drop in June’22. Was a stated foreclosure, at 6520 Shirley Ave. Reseda, CA. FYI.

[@nickvin7447]

You should absolutely be worried about the price of the home, and you should ABSOLUTELY be worried about the rates. Those two factors alone let you know it is NOT the time to buy.

[@p.j.p1223]

Thank you for the info. It really helps figure the next move. God bless you both.

[@persius-t7m]

Mortgage rates are really high and prices are high as well

[@SachsRealty]

@Ant thanks for your comment 🙏

[@HerbWilliams1957]

I have about $350,000 saved. I own no furniture at all. So I have to furnish an entire house. I need a three bedroom with two full baths. Most of the houses that I am looking at that are interesting are around $175,000 to $195,000. I am really hoping to spend around $150,000 on the house itself. I just wish that I knew if prices were going to drop. If not I would just have to bite the bullet and pay the extra. But I sure hate to spend the extra money, only to find out that I could have gotten a comparable home for $30 or 40K less. I am going to retire in a couple of years, so I don't have a lot of time to save more money.

[@danbiss87]

Prices definitely going to drop as investors are going to start liquidating and reduce purchases. Hold off until next year

[@CaptainHookhatesBooks]

Me talking to everyone last few years: 2015-bad time to buy 2016-bad time to buy 2017-bad time to buy 2018-bad time to buy 2019-bad time to buy 2020-bad time to buy 2021-bad time to buy 2022-bad time to buy *Moral of story....buy when you can afford and go long don't try to time the market.

[@makecodgreatagain6049]

You’re speaking with the wrong folks.

[@coled5090]

If the correction is only 20% I'll never be able to buy anyway. I have been saving for 10 years, have great credit scores and I cannot afford a house anymore at these interest rates and prices. We were spoiled by the cheap prices expecting to be able to buy what we could have 3-10 years ago and now we realize we messed up on the greatest opportunity ever. We will never be able to afford houses like that again. It is truly over. And I refuse to pay these prices for dumpy old houses that don't have the features I want. I could have bought these dumps for $40-50k 10 years ago and not wasted all that time saving. And I want a big nest egg left over if I did buy for the coming recession. Just not feasible to buy. And not changing for at least several years I'm afraid.

[@makecodgreatagain6049]

Are you stupid or stupid?

[@makecodgreatagain6049]

The market will never go down oh my god! The sky is falling! Gtfoh dude

[@coled5090]

@@makecodgreatagain6049 ok rich dude guess I’ll just be a poor renter peasant forever.

[@peterjonaseckel8212]

The rate imbalance compared to historical norms comes from the increased balance and leveraged positions held by debt holders.

[@Sarah33Kaufman]

Thank you for the awesome videos guys. For cash buyers, would it be smart to buy a house now or next year in 2023? What are the pros and cons

[@ToxiicZombee]

I'd wait for maybe a year or so the market can crash first. After the 2008 crash the best deals started coming around 2012 - 2015

[@HandcraftedintheFoothills]

Where are these foreclosures happening? Cause it's not happening in East TN

[@josefj1776]

So how much higher are the number of people behind a mortgage versus 2019?

[@SachsRealty]

@Josef Jansen Great question. Would need to research that with the Mortgage Bankers Association. Send me an email, and I’ll compare 2Q 2019 to 2Q 2022. [e-mail] Best wishes, Todd

[@mchristr]

Lean times are coming for the real estate industry. Hope you all are saving and investing your commissions. I'm waiting on the sidelines for the market to really tumble.

[@eradicator187]

Now is a good time to invest in tent companies since tents will be in high demand soon.

[@realestatemindset]

👏👏👏

[@shakazulu3594]

Love you guys! Praise be!!

[@Del_987]

There’s no way they’re low when they’re highest in nearly 14 years. Historically? Who’s history? Not in millennials professional adult lives. Barely in Gen-x

[@maryfields877]

This is true. In the 80s-90s, interst rates were in the double digits but homes were way less expensive. Rates started dropping in the 2000s. We bought in 2004 at 6.3%, but our home was only 250K. Alot back then given the salaries. Then the recession hit and rates started going down along with rock bottom home prices. Our home went from 250K to 350K, then dropped to 127K. We were screwed but we refinanced using one of the government programs under Obama and lower our payment. Then they dropped to the 2s, we refinanced again. Sitting at 2.875 on a 15 year, but really want to move up in home. Not sure if its worth now as the house will be paid off in about 7 or 8 years. So, the rates are okay, but not super high. The prices are high, that's the problem.

[@Mysticaltyger]

Millennials just haven't lived long enough. 14 years isn't a long time.

[@inveele]

Oh poor landlords. They couldn't collect rent for one year during a plague, oh so sad. Guess what, they all came back the next year with vengeance. They are making up for their loss and then some. I have no sympathy

[@obxmisty]

Where are you located?

[@marksgoogle4360]

It will take a year to fully crash out

[@makecodgreatagain6049]

More brotha 3-5 is what im thinking

[@cptr]

This is all bs

[@jod5834]

👍👍👍💯💯💯

[@DogWater2011]

I'm not going to say where I work but it's a branch of the Department of Homeland Security. Anyways, instead of money, the Secretary of DHS has been giving us free leave. I think total since last year has amounted to almost 3 weeks of paid leave. I do enjoy the days off BUT most of us are just laughing because it's typical democrats. Always trying to buy your loyalty instead of actually fixing the root issues.