My Honest Advice for First Time Home Buyers in 2021

[@beatssokachiie5347]

I am sharing this because it is so true and great advice on how to navigate and not go crazy right now. Hopefully someone in my circle who is buying in this market finds this useful!

[@NicoleNark]

Thanks for sharing!!

[@hoopersheaven5056]

She's not lying! I'm in Memphis and I personally saw 5 houses I wanted get sold in 1 day before I even got to see them

[@zaycotto69]

True and what can you say when the showing list closed because they had 40 showings in 2 days?!

[@LeighAnnMiller]

Same experience in NW Arkansas 🙃

[@annemurphy9339]

People are fleeing the liberal cities in droves and flooding conservative states.

[@alwaysinsearch]

@@annemurphy9339 True. Happening in TX. ☹

[@hyperdukes7860]

I agree it's the same way here in corinth. I've been waiting and looking for a year.

[@MM-lg4oi]

Whats the point in buying a house now when you have people from high cost of living areas like California and selling their multi-million dollar homes and moving into lower cost of living states with the ability to buy 4-5 of those homes in cash? Its just unfair for those who can only afford to finance with a small downpayment but dont have the full cash amount of the house especially for natives that live in the area.

[@davidevans3175]

Nobody said life was fair. How fair is it for us in California to have to pay $900K to $1.2 million for a normal 3 bedroom home in a so-so area? Of course we're leaving for a better quality of life.

[@tonyamathis6667]

They should put limits on how many homes you can own in a state where you don't live. They charge to much for rent and make terrible landlords. Most all the slumlords in my area don't even live here

[@autumnsage9497]

It's hard to buy in CA too. Lived here all my life and things are going 60k over asking price here.

[@alwaysinsearch]

@@autumnsage9497 Just remember when you leave California not to vote the same way.

[@alwaysinsearch]

Just remember when you leave California not to vote the same way.

[@jkay3262]

What goes up must come down. My advice do not be desperate. No crime renting until you hit the green light.

[@NicoleNark]

So true! Thanks for chiming in 😊

[@rociobermudez5026]

Not sure about it this time, some markets won’t be affected . it will only come down or Dip if Supply magically goes ⬆️⬆️ or interest rates go up ⬆️ will see.

[@SavingwithLeon]

@@rociobermudez5026 nothing last forever, even this current increase, it will come down one day.

[@fromthedigmedia3299]

Until you realize that your rent is just as much or more than the mortgage... just found me a house after looking everyday for listings. This one popped up for me, and I immediately stopped what I was doing that day to see the house. 9000sq ft home for $297k, good deals are out there... just have to be patient and learn the ebbs and flows.

[@crisc6740]

Only good if your rent is not that high. No point of waiting for 1 or 2 years if your rent is around $2000 a month. That rent is $48k in 2 years. Buy a house if your planning to stay in that area for more than 5 yrs minimum.

[@chachee15]

if everybody is paying above asking price then how will things go when the market goes back down? massive foreclosures?

[@nicole4779]

I just bought a house as a first-time home buyer with a 5% down conventional loan. I started out with a 3.5% down FHA loan and decided to convert over. I was very motivated as my lease ends this summer. Your advice couldn't be more on point!! We submitted our offer with in 24 hours of the home being listed. I submitted an offer $2500 above asking and it was eventually knocked off due to home appraisal value. I also wrote the seller a letter explaining why she should choose me to sell to. In the end it worked out. But when I first started 9/10 homes I saw being listed were sold within 24-72hrs. It's definitely a rough market for 1st-time home buyers.

[@NicoleNark]

Congrats to you for buying your first home! 🎉🏡 And thanks for sharing your experience with us! I am sure hearing your story will keep some buyers motivated to keep going!

[@cathayyy]

I’m so happy for you! I’ve been really struggling. Would you feel comfortable sharing some things you listed in your offer letter? :)

[@ginaem2008]

Sellers should care about who’s likely to close, no one wants to keep re-listing. I just sold a home a few months back. Had 12 offers and was interested in a buyer who was actually approved for a loan and who had the cleanest offer. I didn’t negotiate back and forth, I chose the best and cleanest offer. The offer we accepted was not the highest offer, but it was the best offer that was able to close quickly.

[@labritneyholmes9464]

We need more people like you 💜

[@labritneyholmes9464]

We need more people like you 💜

[@samyi818]

I just sold my home here in TN. I had 19 offers over the weekend. Cash, conventional, FHA and VA offers. Majority were FHA. I ended picking VA. They had a sob story of losing 7 consecutive offers. I bought this home using VA loans and not biased. It was the highest with small appraisal gap which wasn't needed due to VA appraisal coming in. I sold for over 20k. They paid all of their closing costs.

[@NicoleNark]

Sounds like you had a successful sale! Happy to hear you received so many offers and took them all into consideration!

[@michaelkniess2098]

Bless you. Most people on the selling side have completely abandoned their humanity for greed (and with listing agents nudging certain offers so they can double pop). First time home buyers are getting royally screwed, especially with govt backed loans. I hope there's more people out there like you! However, I am surprised you were allowed to look at the letters. Lot of sellers are being told not to...

[@kay22100]

That’s awesome that you accepted the VA loan

[@jvane28]

I really want to buy a house this year but I know I can't compete with the sharks. Most people in my area are paying cash for homes and I know I don't have a chance right now 😕

[@bg5800]

This is so true! Here in CA, homes are being bought with cold, hard cash… anywhere $40-80k ABOVE asking. All contingencies waived and closing in 14 days. This market is definitely not for the faint of heart. It is extremely competitive & can be demoralizing. Anyway, for those of us still holding on, good luck to us and everyone else!! 😊

[@NicoleNark]

Best of Luck to you!! 🎉🏡

[@bg5800]

@@NicoleNark Thank you!! We all need it right now 😂😂😊😘❣️

[@chocoHD88]

no lie. cousin in SO Cal offered 100K over the asking price and the seller accepted the offer over 120K asking price. Sheesh. Listing was over $1,000,000 and in Cali that seems to be the norm in some areas especially So Cal.

[@lucysilva2023]

I am starting to educate myself to possibly buy in a year or so. I am starting to do exactly that, working on some debt to increase my credit score and save some money for a down payment. Thanks for beating explanatory.

[@NicoleNark]

Thanks for watching, Lucy!

[@JNavarroslp]

Do you think this applies too for new homes being built? If not, how would that be different? Thank you for your content… it’s great!

[@Gisselliiee]

I love that she's so transparent about not buying right now if you don't absolutely NEED to.. I LOVE IT! *SUBSCRIBED* 😁😁

[@juliegary5168]

Yeah that's true,, and that's why Depending on one stream of income had never made any millionaire and earning check doesn't put you in Forbes.

[@dereklloyd5537]

Interesting most people don't understand the market move and tend to be mislead in facts like this and depend on money in the bank. Very bad idea

[@roybilly9966]

@Linda Luke 😂😂

[@roybilly9966]

Well, some folks actually have money. And it's even easier to make money now than before. So many online jobs you can sign up for and even work from home.

[@irinadimitri5592]

@@roybilly9966 yeah, true. there's crypto, stocks, forex, affiliate marketing etc.

[@williebobby1773]

I started trading crypto recently, It hasn't been going well. 🥺 I wouldn't want to loose more money

[@Theb3stisbaq]

You're awesome I'm learning so much from you! As a first generation home buyer I'm so happy to have someone help me understand the odds that I may have to face and how to navigate over those obstacles! Thank you 💞

[@NicoleNark]

Thanks so much for watching! I am happy to hear that the videos have been helpful for you! 😊

[@henrysierra4110]

This is so true! Right on point! My wife and I have been in the market trying to buy our first house and it’s been insane! We’ve submit good offer waiving all contingencies plus offering 20k above listing price and yet have been rejected.. the last house I submitted an aggressive offer had 133 offers!!! What are my olds of getting accepted this year??

[@NicoleNark]

133 offers? 😨 That is crazy! Keep going in strong. Are you seeing that many offers on every house?

[@henrysierra4110]

@@NicoleNark an average of 20-30 offers is what we are usually seeing these days.

[@lissaunique]

Hi Nicole , I have a question. Why does USDA want to see my current apartment lease agreement? What are they looking for ? If anything specific . I assumed they only wanted to see if I’ve been paying my rent on time , but a copy of my entire lease ? 🤔🤯

[@kamakanani0]

Best advice for 2021! My wife & I have been non stop looking in the Bay Area for 2 months straight, not a single offer accepted. But we’ve been doing exactly what you said & our agent, put in your best offer, and then just let everything else fall into place. We started FHA then turned to conventional. Also a lot of sellers want no contingencies, more cash upfront it’s crazy. The good thing these past 2 months is saving, we’ve actually have been saving, and our credit score is excellent already but it just Keeps going up currently at 780

[@515707javi]

My wife and I decided to take a step back and not force things! We’ve been defeated over and over and over in the bidding process. We refuse to spend over 60k over asking price. In the SF Bay Area houses are selling at 70k to 80k staring and you have 10 families in line to purchase. We decided estimate our monthly payment on what we would pay on that new mortgage and pay ourselves. We will continue to save and work our credit so we can keep it at a healthy score. We will purchase when the house start drop. One with pool, something we can’t afford now.

[@elizabethrosas-diaz2405]

How does this reflect on looking to buy new construction homes as a first time home buyer (for florida)

[@patriciadukes4992]

I like to know the same thing as well (Florida)

[@aleashamooring3799]

@@patriciadukes4992 great question, I was wondering about the same thing

[@mikehawk01620]

So I just started watching Ur Videos a couple of days ago and these are things that I have not considered or were never offered, DPA and BofA Grants for FTHB. I super grateful for the knowledge that U drop. I feel confident in the integrity of the information. I did look up all the links in the videos that I watched and it’s all there. I like and save all the videos that help me in my circumstance. I like how U make the videos so personable to the viewer. Keep up the great work for those who are learning and seeking a better life thru real estate, learning from industry professionals like U with helpful and informative information that can help people like me trying to jump in the water and not knowing where the deep end is. Lol. Thank U and please continue making more great videos. Mahalo and Aloha 😎🤙🏽🤙🏽1️⃣♥️

[@NicoleNark]

Thank you for the kind words and feedback! You can count on me for more informational videos all about buying a house and what to look out for on this channel!

[@juancervantes4066]

With that in mind. What can you tell me about using the VA home loan??

[@MurphyBlitz]

First time home buyer here, our offer got accepted 2 weeks ago with a USDA loan. It’s not impossible, just SUPER HARD competing against multiple offers especially conventional. You need to be willing to go above asking price in this market. Period.

[@NicoleNark]

So happy that your offer was accepted!

[@DavidGonzalez-nu3wu]

How much above asking price did you go? Maybe just percentage-wise so you don't have to share real numbers

[@FernandoSilva-wf9ly]

👏🏼Awesome also a first time home buyer trying with the USDA

[@sophiec3592]

I live in Northern California Central Valley - I’ll wait hyperflation is happening - next thing is deflation and we’ll see how the market become

[@rociobermudez5026]

Only if demand stops !! Some suburbs markets won’t be affected ! Will see

[@susank.4945]

There is an old house in a downtown area that I LOVE and toured but wasn't sure I could afford. It is registered as a historical site...yeah THAT old. The location is downtown in a nice area of a smaller kinda rundown city. The owner has the business downstairs and living upstairs plus a glass arboretum connected in the backyard for his business (hair). ZIt says 3br but looks like one. As odd as it is like this, I love it, even with the giant scissors statue in the yard. LOL I was told it probably won't qualify for an FHA loan with all of this. I'd have to have a PMI as I don't have 20%. It's been up for almost 3 months on Zillow. I believe the 2 mini-splits to the arboretum will be $$, and any other maintenance on this 200+ yr house. I like this house so much I sent it to my mom and SHE fell in love too...I just hope I can get my act together soon to buy - I thought it was sold a while ago and was sad - just worried about maintenance costs now.

[@mycozeplace]

We’re in the beginning process of home buying. We need a job offer letter but I’m a little intimidated to even go in the buying process because it’s SO competitive! We’re first time home buyer’s so I’m going to be crushed loosing some good houses 🥺

[@BookofJob3XVII]

Good advice. Never live above your means. Always live below your means. Offer a house more than what you can afford. When you kick the bucket you can't take your house with you.

[@B58onsight]

Wow you are so on point. That's exactly what's happening in NYC/ Connecticut. One thing I've noticed they might say 280k but when you turn around it was sold for 220k that was my experience last week.

[@beatssokachiie5347]

sold for 220K? Do you mean 320K?

[@NicoleNark]

The bidding wars are crazy!

[@B58onsight]

@@beatssokachiie5347 220k the highest price in that neighborhood was 205 210. Waterbury c t.

[@silencia85]

How can you find out what the house is actually appraised for?

[@bettysmith4527]

The appraisal is not done until your offer is accepted, AND you are qualified for the mortgage for the amount of your offer. Your mortgage company will order the appraisal and the appraiser will meet with the current owner and their realtor, and yours too likely, and then within a week (generally speaking) you will get the appraisal report. If the appraisal comes back lower than the actual offer, either the seller will need to be willing to lower the price, or you as the buyer would have to come up with the cash difference. If neither of those things can happen, and you and the seller cannot come up with a mutual agreement, then you can both walk away from the deal, and the buyer would get his/her Ernest money back providing there was a contingency written into the purchase and sales contact in regards to the appraisal.

[@joleneamaro6128]

This so true in Massachusetts it's so hard and discouraging to us buyers

[@shirleymorales1340]

It is crazy, in CA.

[@kannadevandurai2037]

Wow wow candid explanation on the current situation, thanks ma’m and helpful information

[@NicoleNark]

Thank you so much for watching 🙂

[@marcusnelson1094]

Appreciate this valuable information. I went with a conventional loan when I purchased my first home. Interest rates were hella low. These houses are selling like hot cakes. I lost out on 2 houses but didn’t get discouraged so I stuck with it and found the house of my dreams.

[@nursedanig2246]

What is your advice on just starting out? I don’t even know who to contact. Do I contact a real estate company when I see a house that I like? Do I contact a mortgage broker and see what I can get approved for? Do I run my credit and try to repair anything bad on it first? I have about $30,000 saved in my account and I make around $110-120,000 a year and I have a credit score of 650. I made some bad choices with credit early on and have worked so hard to get that up from 500. Now I’m at 650, but I’m not sure if that would even be enough to get a mortgage. I’d be looking at a home around 400,000 if I could buy. What do you think my odds are? Should I try for a first time home buyers or should I try for FHA/USDA? I literally have no clue how to buy a house or I wouldn’t be watching YT videos about it, lol.

[@takealready]

Let's not forget everyone. Homes built in the 1980's were sold for $100k. In the early 2000's those 1980's built homes were sold for $200k. Now in 2020's homes built in the 1980's are being sold for $300k. If you can't buy a home now, you'll NEVER get the chance again. Let's not forget the cost of living only goes up, while wages earned remains stagnate.

[@MarieFrance.]

We experienced this is New York State but eventually found a house after our offer was denied. The person who got the offer first accepted backed out and because of that we had an addendum to pay only $15k over the appraisal price. This market is crazy and we almost gave up. But now we have to sell our current place but we are not in rush until we close

[@NicoleNark]

So happy you were able to get a house! I appreciate you sharing your experience because there are many buyers out there that need to hear stories like yours to keep them motivated! 💕

[@chachee15]

so VA loans are no good?

[@CarloswithFaith]

I’m in the process of finding a home ( using VA loans) as a first time buyer and it’s tough right now. Majority of the offers are being accepted by cash right off the bat. Most sellers aren’t even looking at other offers unless its cash, the rest won’t even be looked at unless the seller is a veteran then you have a chance. The fact that we can’t avoid appraisals and inspections just makes it difficult unless you use a conventional loan.

[@chachee15]

@@CarloswithFaith i just signed a lease on an apartment. Hopefully things will be better in a year.

[@CarloswithFaith]

@@chachee15 yeah I think that in our case it is better to wait a little until this cools off. The whole point using VA loans is to save money not offer more than what you need lol. Good luck brother.

[@fernandasatumbagabalan8395]

I have that problem For the years we lived in this house we put in some addition to the house and it is selling for 395 and it needs to be sell ready the kitchen the floor the bathroom the awnings and he painted in fact she is trying to pin down to bus the broken window before we moved in etc. so I’m afraid cause no one is renting ring now we are senior and have two kids. How can I get a real state agent cause I I said I am a first home buyer.

[@KamalElfahssi]

For those who can handle the truth... I agree from recent experience. Thank you Nicole.

[@NicoleNark]

Thank you for watching, Kamal! 😊

[@KOWAB]

What are your views on buying a condo or manufactured home with a land lease? Cheaper to buy but higher monthly payments. I haven't really found a definitive yes or no on if it's a good idea.

[@bettysmith4527]

I wouldn't! Manufactured homes tend to loose value instead of gaining it, and on top of it you don't even have land that would gain in value. You are literally paying to live on someone else's land, and on top of it you have to mow and do landscaping duties. You are paying someone so that you can take care of their land! I would stick it out until you can buy a stick built house on it's own land. A condo is a different story, and may be a better match for you if you do not want the outside work that is involved with a single family home that is on it's own land, without a HOA. Condos are very dependent on how well the HOA is run, whether or not they have adequate reserves if something terrible happens, or to use with expensive maintenance such as new roof etc. The rules also vary greatly, as is how well they are enforced or not enforced. The percentage of rental units is also very important, as it. can limit your ability to get a mortgage or to sell in the future. I owned a condo a few years ago, before buying a single family house, and the more renters there were the less desirable the living environment became. Renters tend to be noisier and care less about caring for the common areas, they would throw their cigarettes and trash everywhere. I was happy to get the hell out of condo land... You have to do some serious self reflection and realize what you are capable of and what you would want, as far as single family vs condo etc.

[@kennethrussell1158]

What is the best way to contact an owner of a house that you're interested in buying but is currently not listed or for sale? (First Time Home Buyer)

[@runningbyfaith]

I'm a Veteran, do you have any experience with the VA Loans and the current market? Thanks

[@NicoleNark]

Great question! I actually have 2 veterans under contract with VA loans right now. It can be a little tricky but is still doable. In my experience, sellers are still actively considering VA offers and of course, veteran sellers often end up choosing veteran buyers!

[@bettysmith4527]

Wiley, thank you for your service to our country! I hope you find a wonderful home.

[@NikkiJ20]

I'm closing tomorrow with a VA loan. Offered 10k over asking. House appraised at my offer price. I'm actually getting money back at closing

[@NicoleNark]

@@NikkiJ20 woohoo! So excited for you! 🎉

[@NikkiJ20]

@@NicoleNark thank you and icing on top of the case my bday is on Sunday 🥳 and my lease ends July 1st. So it all worked out even though I was starting to doubt my chance in this market!

[@carltonford3138]

Thanks, This video really was useful. I live in Pennsylvania and Homes are being sold / Pending within 24hours of listing, and I'm looking for my "Forever" "Home". I thought it was just my county. All the homes I loved are sold it was depressing, and now I know why. Thanks

[@thickinthekitchen4483]

I’m in Texas and the average offer is 30k-90k over asking and most offers are all cash ... I lost a home to a 70k over asking all cash bid. I’ve given up on the thought of being a home owner in 2021

[@noeltanaka7602]

😢

[@NikkiJ20]

I gave up as I was in the same boat as you and applied for an apartment because I couldn't compete. 2 days later found out my offer was accepted on a house I love. I'm in Fort worth and close tomorrow. I offered 10k over. The house appraised at my offer price. Don't give up completely. What is meant for you is for you and no one can take that from you! I wish you the best of luck on your journey to becoming a homeowner. I know it's a struggle but it's not impossible!!!

[@thickinthekitchen4483]

@@NikkiJ20 congratulations on your new home!!! It’s really encouraging to hear that people are actually able to win their homes in this market. Thank you for the encouragement!!

[@miket2607]

Think about it. People are leaving big city/ high taxed/ democratic states. These states usually have a higher cost of living which causes the average wages in that area to be higher than the norm. If I worked in Cali with the same job I have, the cost of living difference is almost an extra 50% “bonus”. These people could sell their home in their state for 400k (a 200k valued home in my area) and put down cash or above asking sight unseen. That is what’s happening people.

[@HoneysLit]

Thank you for the information. Do you have an ideas when this could possibly change if you do plan on utilizing FHA/USDA?!

[@NicoleNark]

You would have the best chance of getting your offer accepted using those loan types when the market balances out. Right now, it is really hard to say when that could happen but at this time I am anticipating it would not be before Fall of this year.

[@HoneysLit]

@@NicoleNark Thanks! I'll keep preparing!

[@samgould8567]

The way I see it, there’s realistically only two ways that the market will even out in the next year or two: buyers getting priced out and/or interest rates rising. It might be a terrible time to buy a home but it might not be much better in the future depending on your market and purchasing power.

[@crystalalfonso752]

Thank you so much for your advice. I was feeling that I should probably wait since the house I put an offer on had 33 offers and of course mine was not the highest or best. I'm not in the best space to offer more so waiting for the market to balance is gonna be the best thing for me.

[@NicoleNark]

Glad it was helpful! In your situation, it sounds like deciding to wait will give you more options! When we get back to a balanced market, you will likely be able to get extra things like closing costs paid for as well!

[@KittyLovesGlover]

I have the first dibbs on the home we are renting, to buy. they basically will work with me on a good level. I am trying to fix my credit in the next few months before fall comes around. curse or blessing? they really just want to get out from under the ownership/mortgage here.

[@marilynsataua9436]

Are buyers looking at loans that have down payment assistance attached to them?

[@NicoleNark]

I am not seeing many sellers choose buyers with down payment assistance tied to their loan when in multiple offer situations.

[@milagrosrivera5748]

I been on this journey since late 2019...I looked at lands, mobile/land packages, regular homes...I've come to make offers on houses that had multiple offers...obstacles ate still in my way like my credit score, student loans, etc... I'm in Jacksonville. There are cheap houses in the bad areas that are being sold. The market isn't friendly to the potential first time home owner like myself. Hopefully Biden will pass the $10,000 student forgiveness loan...good luck to all looking for a home.

[@sonyafmoore]

For real. Tell the truth. It is starting to settle down a little bit and listing price are starting be close to market value. I have been on the grind and it was worth it looking for houses with my buyers. What I did was keep track of my client showings and homes they put offers on because a lot of houses came back on the market. I even had listing agents contact me to tell me the house was available and my client can come see it. Nope, they are being greedy and it fell through.

[@HA-Humam]

What if the piece of wood is not worth the price? I ain’t gonna pay more than the house offer I can wait I’m not in a hurry

[@yooo2568]

What should I do? I have bad credit but my wife has good credit but I have higher income. We are interested in usda loan but just need some direction on what we need to do.

[@remona901]

Hello Nicole, I'm still waiting on buying a house. I've gotten approve for 180,000, FHA most homes in the Olive Branch Ms, Desota area homes start at 169, after 2 days the home is over 200 with almost 8 bids site unseen. Its crazy . This is true. I have no dwn payment at this time I save a little but Im depending on down payment assistance.

[@NicoleNark]

Thanks for sharing Remona! It is definitely a tricky time to be a home buyer! Being flexible with your timeline and waiting until the market balances out will only offer you more opportunities! 😊

[@remona901]

Thank you...ill wait

[@rtldulin]

I am in the same situation as you are and ever worse. I was pre approved for 180,000 FHA but i live in a tourist town and now there IS NOTHING even close of that price range. :(

[@NicoleNark]

@@rtldulin oh no! Hopefully there will be more inventory for you in that range when things balance out! 💕

[@westcoastorbust2462]

Um in Washington it's hundred's of thousands over As Is.

[@mitchadams5353]

These people that keep thinking the bubble is going to burst. . .just don't understand. It will not.

[@lovingsunshine3515]

I hope there are descent houses in our price range left in east Tennessee in 2023 when we buy our forever home.

[@katebrinson9391]

These are great videos! Could you do a video about purchasing a home with student loan debt?

[@antoinestewart7293]

I'm currently in the process of buying a home in the DMV area and that is exactly what's going on. We started submitting offers in April and we have experienced everything you mentioned. Excellent content.

[@TheTenshi11]

Thank you for the information...this is good advice. Do you have any thoughts about the housing market in Southern California?

[@rickspringer4814]

Thank you for your honesty

[@NicoleNark]

Absolutely! Thanks for watching! 😊

[@CyFi6]

Great advice! Thanks for being honest that nobody knows where the market will go! Everyone needs to consider the risks of waiting and the risks of buying now.

[@larrycox7169]

Great advice. I wish you were working eastern Oklahoma. We are going to now work on our credit score and watch market as you advised. Thank you.

[@NicoleNark]

You can do it! 🎉🏡 When the time to buy gets a little closer, let me know! I am happy to match you with someone great in your area!

[@JuwanRohan]

What camera do you use ? This is great

[@Homesteadhappyhour]

Love it. Honest and transparent advice

[@kenfcarzn]

My wife and I are in the market actively and have put in 3 offers and have loss on all three even with going $21+K over asking it’s ridiculous

[@amiranvanadze5888]

Hi Nicole. When do you think we will go back to a balanced market. I’m really upset we can’t buy a house because the house I wanted was listed for 244k but someone gave 33k more. This is crazy

[@NicoleNark]

My heart goes out to you Amiran! This is such a tough market for buyers and I am experiencing it first hand as well with my clients! There is no way to predict the future but i am thinking we will see a more balanced market at the end of the year

[@yeseniadiaz37]

Are offers the same as down payments?

[@bettysmith4527]

No Yesenia. An offer is how much you put on your purchase and sales, it is the amount that you are willing to pay for the house. A down payment is how much you will put down towards your final mortgage amount. So, if you want to buy a house that is on the market for 155,000.00. We will say you speak to your realtor and agree to a full priced offer, your realtor will put together a purchase and sales contract stating that you agree to pay the seller 155,000 for their home, that is your OFFER. You will then speak with your mortgage broker and get the process rolling so that you can purchase the house, the mortgage broker will then ask what percentage you will put down of the 155,000.00. Generally speaking FHA mortgages will require at least 3% down, so you will put down 4,650.00 (your DOWN PAYMENT), which is a portion of the cash (in check form) that you will need to bring to the closing. Conventional mortgages generally require at least 5% down, so that would mean you would need to bring 7750.00 to your closing, in addition to any other closing costs. This is just a made up scenario so that you understand what the two phrases mean, closing costs will vary by states, but the down payment, and offer are the same.

[@biz4smitty]

Thank you so much for this information!

[@dreealeah]

Hey Nicole, I’m currently looking for a house in the Bryant, Arkansas area. I’ve talked to 3 different lenders and had no luck regarding rural development I don’t think they are willing to do it. Any advice?

[@reffa2858]

I'm in Louisiana. Surely it isnt that bad down here.

[@MMM-dz5sq]

Yes thank you For this video That happened to be 4 times already 😒

[@pandoras7102]

Are land prices increasing as well? I was going to set up with you for property in the NW region.

[@annemurphy9339]

Land is increasing like mad as wise people flee the big cities.

[@kendraswain9267]

I hope it’s possible for me. I’ve had eleven (good) offers get rejected in less than three months

[@NicoleNark]

Keep the faith Kendra! You are not alone!

[@jnwalsh3656]

Thanks for telling the truth! Says a VA homeowner. Such greed! It will haunt the seller.....

[@bettysmith4527]

It's not all about greed! If I am a current home owner selling in a high market, I need to sell for a high price so that I can purchase another house that will be high priced.

[@trancastore2107]

Love your red lipstick 💄

[@christine5797]

Are these Live videos or just video premier's? I've watched another "live" video but didn't see any interaction with Nicole and her viewers like you would watching a live video.

[@NicoleNark]

This one is a premiere Christine! I always still tune in to be available for questions though 😊

[@jnwalsh3656]

Very true in Vegas area! Would never do that to anyone. Ask for an appraisal! Most will not appraise. Greedy people these days.

[@Bentleybabygirl]

Can u help with self employed

[@marieroberson8228]

I guess I'll continue to rent for now.

[@ADayWithShay]

I appreciate your honesty. Please keep us updated! Can you also talk about the inflation of building and what’s exactly going on with that right now?

[@Rafael-si9jr]

Saw a home for $254k & I told my realtor, I wanted to offer $245k. He was surprised but he went ahead type the offer and we sent it... surprising enough they accepted my offer. Even I was shocked && happy because We had just terminated a contract that same day because of a messy situation with the person passing away not having a will written... Be patient but move quickly. 😁 -From Texas

[@niccolea2086]

My fear is investors & cash investors will continue to drive up the cost/bidding wars and homeownership will be something harder to obtain

[@kevinmurphy8294]

Already is

[@pvanukoff]

Home ownership becomes harder over time by design. Think about it. A house is considered an investment. For something to be an investment, it has to appreciate at a faster rate than inflation. This means that over time, all housing becomes less affordable to new home buyers.

[@niccolea2086]

@@pvanukoff bankers, some of the EXACT same bankers who swindled ppl out of their homes, and were NEVER prosecuted were given a green light to buy the foreclosed homes, they took from ppl and are now in business of buying up homes to rent out at very high rates. The next generation will consist of more renters, who can’t afford the “corporate rent rates”.

[@pvanukoff]

@@niccolea2086 Yep. The system, as usual, benefits the wealthy and powerful. Corporate purchase of homes should be either unlawful or highly limited. That would go a long way towards solving the affordable home crisis.

[@niccolea2086]

@@pvanukoff and foreigners shouldn’t be allowed to buy up coastal properties for cash. Dumping so much money into the system and driving up costs, and out bidding families, then renting them out, raising rents or just allowing these units to stay empty and while contributing to the homelessness crisis. It’s terrible. Our government officials, our elected officials don’t care about the American ppl. They throw us crumbs after devastating us with one crisis after another where they come out ALWAYS , on top!!! It’s not a coincidence and ppl need to wake up! It’s all manufactured. “Where there’s chaos, the rich will steal”

[@damonthomas78]

Never offer above listing just wait it out it'll slow down.

[@gidgethowser2467]

Thank you so much for this…❤️

[@stilliraise9201]

Let's see what we can learn from here.

[@LuisRodriguez-gx9yl]

A perfect indicator of a house market bubble.... Let all these people buy over asking and the it pops just be ready to buy at a discount. You never buy anything when it is at a premium.

[@ceciljohn4433]

After watching your videos, I am considering to apply for RD-USDA loan in San Bernardino county, CA

[@geraldpaul1870]

Hey can RD-USDA be used in Fort Myers Fl

[@Latebird24]

I’m glad a subscribed to you. You’re very helpful.

[@NicoleNark]

Thanks for being subscribed! Happy to help 😊

[@keepithappy9436]

DJ Envy and friends are telling the rich to invest in real estate. They ( the rich)are the only ones that can purchase like that!

[@pamelaj1596]

I have a lot of motivation to buy a home, but that don’t mean I have 30k to put down on a raggedy “renovated” home 50k over its value.

[@rolandroland1485]

.... I want to buy a house for 250k ( listed price ) in NY. I have a 720 score with a history of credit card ( 5000$ limit ), a financed car which I am still paying for ( 8500$ but now down to 3200$ left in 3years and have 2years left ) all together I owe 7500$ in dept but I got 15.000$ saved. What are my chance of getting that house. I am doing better and in pace of saving 25-30k by next summer 2022 which will take me to 35-40k ??? Not just you .... anybody is welcome to give me an idea 🙏🏿🙏🏿

[@damonthomas78]

Just build up that credit. All other things will fall in place. Get yourself up to 720 and keep working at it

[@mooceeonaable]

I'm a REALTOR in Nashville, my past 6 clients hv been buyer's the turn around time 2 get a offer accepted is 2 months per client & alot of home looking open house & heavy over bids no contingencies or down payment assistance last 2 offers were 60k & 75k over asking wasn't not enough 😖😭🤯🤯🤯

[@NicoleNark]

So Crazy! 😳

[@timothyryan4500]

Hello, my name is Tim. I have tried for a home a loan a co buyer s contact purpose. I really believe the market failed our country. Would you be willing or able to assist me directly. Thank you much.

[@Pablo-oi1hv]

I'm not buying a home it's impossible . I'll wait a few years

[@wilianslogan7481]

Nice video!! Very engaging from beginning to end. Nevertheless, businesses and investment are the easiest way to make money irrespective of which party makes it to the oval office.

[@PiññedbyAustinhilton-i5b]

A lot of people with high IQs are terrible investors because they’ve got terrible temperaments. You need to keep raw, irrational emotion under control

[@jenniferlopezs9995]

I understand the fact that tomorrow isn't promised to anyone, but investing today is a hard thing to do because i have no idea of how and where to invest in?

[@mikerobertson6346]

Great insight, this is really helpful at times like this

[@derickmacall2541]

When money realizes that it is in good hands, it wants to stay and multiply in those hands, if you really want to make profits out of the money you've got, you have to take it out of your savings account

[@christinedaniel5311]

My personal portfolio/investment manager; Mr Barry Silbert, after a whole week of research,he runs an investment platform where you don't have to undergo any stress in the trades, he manages my trading account which i opened with a capital of $3000 and now i have grown my portfolio up to over $21,500, a huge success

[@jackieestevez7406]

Haha I live in nyc n my rent is 1700 that's why we are outta here. Can never by a home here.

[@jmjm694]

Your amazing

[@NicoleNark]

Thank you! You are amazing for tuning in! 😊

[@baovue4013]

It's a sellers market

[@NicoleNark]

Absolutely!