Realtor.com: Additional Signs of a Troubled Market Appear

[@JasonWalter1]

Inquiries for my NEW video editing business: email me at [e-mail] ➜ Get Connected To a GREAT Real Estate Agent or Mortgage Advisor here: www.realestateteamfinder.com ➜ Book a 1 on 1 consultation with me here: eksperience.net/talents/645980ab615d27bc7530e7ab ➜ Need a landing page or website built? Go here: leoalparce.com/referral-form Interested in buying or selling a home in the greater Sacramento area? Email me at: [e-mail] Compilation of Housing Market Forecast videos: kzbin.info/aero/PLiQQpOejscIcBF1Jw2zG6Uvg7qDav_oGi Please SUBSCRIBE HERE bit.ly/31kAR73

[@mattanderson6672]

Appreciate you as always Jason, thank you so much!!

[@JasonWalter1]

You too Matt!

[@MM-ig2zq]

Inventory is rising at ridiculously overpriced amounts. Trying to catch the last train and the ignorant buyers.

[@convilcali]

Damn ignorant buyers 😡

[@jaydeeare285]

Does posting blatantly false misinformation make you feel better about still being a renter ?

[@r3lativ3lyd3lib3r8]

​@jaydeeare285 Does trying to antagonize people in a KZbin comment section make you feel better about being an incel? 😘

[@myutubename]

Lol where😂

[@jaydeeare285]

@@r3lativ3lyd3lib3r8 Does trying to white knight a total stranger in a youtube comments section make you feel any less broke? 🤷‍♀️

[@davidallen2682]

The market is so weird in Phoenix. It seems like no matter how small or big the home is, they want at least $450k. All over the place you can find a 1300sqft home selling for the same as a 2300sqft home right across the street. It is really is odd. Almost like someone is pulling the strings to make sure no matter what the prices stays around 400-450k range. black rock bought a ton of homes here and might be holding the prices high manipulating the market. It is the weirdest thing ever to see. All the larger homes 2500-3000sqft have come down drastically in price, but those dang 1200sqft home are holding strong at $400,000. Can anyone tell me what is going on?

[@blmxo8827]

There’s a home in Gilbert, was built in 2020 with all the bells and whistles, beautiful home. Sold for $750k range…. Now asking for $2.2 million!! No upgrades, nothing but added a very standard backyard. Absolutely disgusted by the market here.

[@davidallen2682]

@@blmxo8827 I grew up in Arizona and would love to raise my family here, but this place is going south real quick.

[@malanalan1]

a ton of homes? That would not be even a single home. 🙂

[@pristinedetailing5171]

House is on the market today. LET'S GO!!!

[@MSM_shorts311]

I was a Realtor from 2006 to 2022 and I cannot believe the lack of home affordability right now! I agree that it definitely does not seem sustainable. I wonder what will be the straw to break the back of the real estate market? I suppose unemployment is the #1 suspect.

[@Jose-sy1je]

The people owning those homes have super low interest rates bc they bought before 2020. And they sit on massive equity as well. It will be far easier to make a mortgage payment for a homeowner that it is for a person renting to make a rent payment. In addition, the avg homeowner earns higher wages and has more job security than the average renter. So given the low supply I just don't know how this will change. Yes, there should be decreased demand, but if there is no increased supply nothing will happen to lower prices. And I don't understand why they let 2008 happen and now they printed money like drunken sailors.

[@Coffeendonuts]

My mortgage on my home that u bought in 2010 is a 15 year note that I refinanced in July 2021 at 2.1 for the remaining balance of 85k. My mortgage is 832$ a month. Taxes are 1100 a quarter and the insurance is 1200 a year. If I was buying my exact house today with a small down payment it would cost over 4k a month. If I had to rent a similar property it would cost about 3500 a month My wife and I want to buy a bigger house but no way are we moving even though we could sell our home for about 550k. We are staying out until rates go sub 7%. We also own a condo that we rent for 2800 a month that is worth 320k. Even if we both lost our jobs we could find the mortgage money in the couch. We would likely just use our emergency savings to pay the entire mortgage. The renal condo we have is paid off and we pocket all but the 200$ a month condo fee and the 2200$ taxes a yet we don’t have to worry though because we earn 400k a year. It sucks for people trying to get their first home but it is what is. Life isn’t fair. People like me who bought years ago aren’t going to magically fail if the market crashes or unemployment skyrockets. Two things that haven’t happened and may not.

[@reesecales7188]

It needs too have a reset and get back on on track. Utah homes are way $$$$$$$$$$$$$$$$$

[@reesecales7188]

It needs too have a reset and get back on on track. Utah homes are way $$$$$$$$$$$$$$$$$

[@reesecales7188]

It needs too have a reset and get back on on track. Utah homes are way $$$$$$$$$$$$$$$$$

[@traceysantos9954]

Even though many people have a 3% mortgage that is fixed, taxes and insurances are not. This will be the straw that breaks for many.

[@SteveRam]

Great review! Thanks for sharing Jason. I’d love to see data compared to 1981 when we last saw rates sky rocket like this and see what impacts it had on the housing market compared to now. Very interesting market we’re navigating

[@JasonWalter1]

Hi Steve! I would love to see that too. Realtor.com only has weekly updates going back to July 2017 but something I'll tell you is that housing affordability is an all-time record low going back to the 1980s from the National Association of Realtors.

[@reesecales7188]

Not inn Utah homes are $$$$$$$$$$$… Absolutely ridiculous!!!!!!!

[@lockup6104]

Mahalo good morning getting ready for a rough winter 😱😱🤙🏽🌴

[@JasonWalter1]

Good morning!

[@Chew5219]

MND says rates are now 7.6%

[@renelopez2244]

Interesting update

[@SC_LFC]

Just got outbid on a house this past weekend despite going over asking and waiving appraisal. Sellers had multiple offers within 12 hours of house going live. Housing market is very micro, so high rates have done nothing to slow down demand in Charleston SC metro area.

[@SC_LFC]

@ziplokk1453 if you’re a responsible buyer (ie have 20% or more for downpayment and can afford the monthly payment) there is no issue with buying today. Demand for a desirable location like Charleston isn’t going to suddenly collapse. The buyer who outbid us didn’t even see the house in person, it was after a facetime call with her agent. We still have people from NY, IL, CA, etc arriving every day, and that’s not going to change given what’s going on in those states.

[@Fatireviews]

Why yall still fighting over a house? I don't understand.

[@SC_LFC]

@@Fatireviews specific needs. Looking for a 5bd house and they aren’t as plentiful.

[@cyrusm3391]

Hey I'm all good with stagnation!

[@UneducatedGeologist]

I've never seen builder pull back like this pre recession. In my boom growth area, suburbs outside Seattle there are thousands of apartments units 50%-80% done that haven't been touched in months. Additionally the housing developments that were pouring 10+ new foundations a month have slowed to ZERO new foundations in past month. The Breaks Have Been Put On.

[@jaybartlett2561]

I overpaid in 2006. Not doing it again. Took a long time before I could even consider selling without owing money instead of making it. Not to mention the cost of maintenance and upgrades. If anything I barely broke even or lost money.

[@jaydeeare285]

How much money would you have "lost" if you had only rented the entire time ?

[@marcotrujillo5628]

He could’ve rented for a few years, bought, sold the home at the same time as he did, and he would’ve had much more equity than what he would’ve paid for in rent.

[@jaydeeare285]

@@marcotrujillo5628 Not really. You can't time the market. 👍

[@jaydeeare285]

​@@jayk3551... and then compound that with how much he's wasted on rent over the same period of time and the lost tax benefits of owning.

[@Ja56780]

@@jaydeeare285how long did it take for prices to break even? Where I live prices didn’t break even from 2006 home values until 2020. He would have been in the negative on a monthly basis for years.

[@danielfuentes117]

Thank you four your hard word and for sharing this valuable information with us!

[@RobbieGeorge-j9x]

Thank you Jason!

[@ArizonaAirspace]

I’m glad I sold my house early last year. My realtor is telling me it is taking longer to sell and buyers are not bidding up above the asking price in the area I used to live in. I’m going to rent and continue to watch the RE market closely. I think the RE market is headed for a disaster going into 2024.

[@lonjay]

Welldone Jason, I follow your video daily and I have a reservation about the source of these data. I know about a house that has sold since 22 Aug and it has not been updated to sold. If such is common I wonder the effect on the data being collated by zillow and the rest.

[@alucard4860]

No suprise. Despite everything going against them. Buyers power has dropped by almost 75% since interest has gone up near 150% from 2 years ago. They still don’t want to drop prices on their home. Since everyone else don’t want to.

[@pendamoniumpaladin1798]

Rates are staying high, so prices will need to ease or the RE market is simply going to remain frozen...

[@lukem3067]

Jason people are going to get themselves in a bad bad situation and they are going to be upset.

[@JasonWalter1]

Good morning! How so?

[@Mike_257]

"The interest rate will stay high and longer". That's enough said to damage the housing market!!!!! In the meantime, Zillow offers 1% down to trap more buyers 😂!!!!

[@lukem3067]

Feds either want homes to stop selling or they want the prices to come down.

[@JasonWalter1]

Seems like a bad time to offer a very low down payment program.

[@jaydeeare285]

"High rates" "damage" inventory, not prices.

[@Mike_257]

@@jaydeeare285 the house price could be collapsed sooner than we anticipated!!! Could be worse than 2008! People is starting to sell to take advance on a huge profit and stay rent for a couple years!!! And nobody is buying now!!! Inventory is just a temp. reason!!!!

[@Mike_257]

@@JasonWalter1 Zillow already shutdown their " House flip" business!!! However, their house inventory at high price is still high!!!! They just want to get rid of those high price houses for good!!!!!

[@carnivalgods4573]

We want the market as dry, flat, dire and unappealing as Electra TX as it currently stands. It's the only way to turn it around. I apologize to past and current residents of Electra.

[@DaveT0818]

Not seeing new home builders and off frame Modular homes being impacted as much as expected.. guess relying on pipeline orders.. going to catch up with them eventually..

[@nickbumgardner2444]

Good morning, Jason. Thanks for keeping us informed

[@JasonWalter1]

Good morning!

[@oletreed4230]

There is a small percentage of houses selling for over 1m here in California. And there are lots of them. Because they are not selling, the inventory is increasing. The prices are falling and have fallen close to 10% so far this year. Builders are not building new spec homes as they are expecting a strong recession here in the next 3 years

[@cyrusm3391]

These aren't your avg houses tho. Of course the avg demograph won't buy them. Small % won't be enough to make dent...no matter if there's lots of them...because it's still a small %. Sounds like a specific market

[@Coffeendonuts]

What metro. All metros in California are up YOY with the exception of the Bay Area

[@oletreed4230]

@@Coffeendonuts ya marin

[@metonicycle6294]

Paradis CA, Lahaina known as paradise, look for Paradise Nevada to be next.

[@do-uc6xj]

Hi Jason, long time no comment. I've been in jail for the past couple months....jk... lol.

[@JasonWalter1]

haha

[@straightdrive6192]

Seasonality is reason behind 50$ reduction in prices 😂. Inventory is still too low , there is absolutely no chance of a crash . Check clear value tax .

[@Coffeendonuts]

Crash bros are smoking hopium. That’s all they got. Easier to admit that the market will crash than accept personal responsibility for their shit financial decisions over the last decade

[@uriassmith4110]

Yep will go up forever! TY for your ability to foresee the future you must be super rich!!!

[@giii7599]

You can't be serious.

[@BlessUsEarth]

Actually, it's not a if* it's more of a when it will happen.. but I do doubt the market will crash tho. Because anyone with eyes can see the market being manipulated into the sky. Gotta check with the upcoming election.

[@straightdrive6192]

@@giii7599 I can’t believe people miss obvious facts , watch clear value tax videos . Prices will never crash in near future . You will get a 50$ discount . Btw do you see any distressed sellers and inventory increase, very few right . Nobody wants to sell . Buyers will stay poor for long time renting . You can choose to ignore these facts because it hurts your feelings . These are facts .

[@Jose-sy1je]

Nothing is being built. So the only way to increase supply is to get existing homeowners out of their homes. But those have more wealth than ever before. In addition they sit on super low rates and have very high equity. This is class war what happened in 2020. They bailed out the asset holding class here. Without assets your crappy wages will just evaporate due to high rent and higher expenses. The majority of people will never own a home in the next 10 years if they don't own one already. You were pushed into eternal renting and probably eternal poverty if you consider how much you will lose on rent.

[@TrollislifeH0]

I’m surprised to see some of my “watched” homes in Sacramento go pending. 3 went pending yesterday that have been on the market for 60+ days. I can’t imagine buying anything in todays market, makes absolutely no sense. What I have noticed is the amount of women buyers and the famous firefighter/nurse buyer.

[@Fireballsocal]

SoCal here and houses may take months to sell but almost always go pending within 3 months and after that, sell. Sometimes at higher than asking. Only a handful of houses I've seen take over a year to sell. I keep waiting for the other shoe to drop. Maybe next year. I'm watching the 2 and 10 year treasury spread to look for potential recession signs. It dropped from about 100 basis points several months ago to 60 basis points as of today. I gotta say it's pretty interesting knowing that the housing market is completely against convention.

[@cyrusm3391]

​@@Fireballsocalit's showing resilience it's crazy

[@JasonWalter1]

I just got a client's offer accepted over the weekend in Sacramento. Two weeks on the market and for $100k less than asking.

[@Fireballsocal]

Jason. In your opinion, was the asking price way out of line? @@JasonWalter1

[@Coffeendonuts]

It makes no sense if you cannot afford it.

[@Jose-sy1je]

Again, why are there so few homes being built by historical standards? This had been known for so many years. And the demographic increases were also well known. Homeowners are literally sitting on a gold mine and the peasants work the fields around it seems.

[@housingnerd]

Jason. It would be good if you look closer at some of the data on the rising inventory for example, here’s what’s going on in Ohio. In central Ohio the median is about 320,000. Listings under 300,000 are down 33% above 300,000. Are up 9%. so while inventory is rising, none of it is affordable housing. That still has bidding wars.

[@Coffeendonuts]

300k is not an expensive house.

[@housingnerd]

@@Coffeendonuts no it’s not compared to national numbers, but my data illustrates what many markets are going through.

[@3xfelix]

Huge housing market crash on the horizon☝️

[@ryanvertucci7943]

The housing market is pretty slow especially with Luxury (above the median price per area). First time home buyer homes below median are still moving pretty quicky. Days on market is rising as is inventory albeit slowly. Also seeing rental inventory spiking and much higher days on markets. People are throwing the homes they purchased within the last 2 years into the rental market because they can't sell without bringing a check to the closing table. Keep an eye on rents on single family homes. Those will decline first, if those decline, we may see sales prices decline after that.

[@morrival98]

Started watching but was disappointed with the content...I usually finish your videos.