Sellers capitulating. $50,000 losses on houses becoming the norm in Florida.

Sellers across the US Housing Market are starting to lose money in states like Florida. Where sellers are taking $50,000 losses on what they paid for the house 1-2 years ago.
REVENTURE APP: www.reventure.app
The result is that the housing downturn is now gaining steam in cities across Texas and Florida. Particularly - Tampa, St. Petersburg, Sarasota, Austin, Dallas, and San Antonio. These are the housing markets where sellers are most frequently taking losses.
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[@ReventureConsulting]

More and more examples of sellers taking huge losses in Florida. Also happening in Texas. Aggregate data just starting to pick it up. Check out data point Home Value Growth MoM to see the real time trends in your market on Reventure App: www.reventure.app

[@shawnalijany1815]

Thanks for sharing your observations. Still all you said is not happening in Southern California.

[@DiosPoliticaSaludyConsejos]

Come to my neighborhood in Belleview, FL and I will show around. I just bought the house from DR Horton

[@The_Laid_Off_Life]

Those people that bought in last 2-3 years, it's not looking good if a forced sale I recently sold at a discount (2020 price per HCAD) and was happy as can be. It was owned more than 7 years and still wayyyy ahead. My price now messes up others as comp Sold in 19 days to all cash buyer with 7 day close Anyway, great info you are putting out

[@The_Laid_Off_Life]

Btw to answer to $64,000 question where is the savior? He immigrated recently and has started to work. Approx 30-36 months later, the immigrants often begin to form households and will enter the house buying market........... Look at the Ohio situation. Mass immigration and the home prices ultimately went ..... up

[@kathleenking47]

Especially after Helene Insurance would be way too high

[@sycamore2789]

The houses are so overpriced that $50,000 lower isn’t low enough.

[@HubertGeorge]

50k would make my house still 50% gain over the price i paid in 2021 with a 2.75% 30 year loan.

[@skil101]

this ud the part he forgets to mention

[@dethray1000]

in vegas the average house selling for 600k today was only worth a little over 200 k in 2016-we are heading back to those values--i have owned over 75 or so houses- it goes up and then people are in to much debt and have to sell--7 to 8 year cycles-up 7 years,down for 7 years--been doing this since the beginning of time

[@henrythegreatamerican8136]

Yea, a Florida house I sold in March 2022 for $375k had a listed estimate peak valuation of $480k a few months ago. I just checked a few minutes ago and the new estimated value is $440k

[@JamesAllen-xk8bc]

Bull.

[@ClarkeGriffiny7]

This happened with the 2004 housing boom - home prices were greatly inflated, meaning people couldn't sell later because they owed more on the house than they could sell for. I know quite a few people who bought then, thinking they were making a good investment to sell later, but it's taken until the COVID housing boom for the prices to come back to those original amounts.

[@ChristianKelv]

To balance out your real estate holdings, I suggest investing in equities. If you're cautious, even the worst recessions can present fantastic buying opportunities. Additionally, volatility can produce fantastic short-term purchase and sell opportunities. This is not financial advise, but you should buy immediately away because money isn't king right now!

[@HectorWhitney]

Yes I concur, I've been talking to an advisor for long now, mostly because I lack the knowledge and energy to deal with these ongoing market circumstances. I made more than $220K during this slump, demonstrating that there are more aspects of the market than the average individual is aware of. Having an investing counselor is now the best line of action, especially for those who are close to retiring.

[@BellamyGriffin19]

That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this consultant?

[@HectorWhitney]

My CFA ’Melissa Terri Swayne’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@JohnSmith060]

She appears to be well-educated and well-read. I just ran a Google search for her name and came across her website; thank you for sharing.

[@Zippy1415]

$435 for a $200 house is still insane

[@cranberryeater7459]

You can tell it’s a ghetto area by the cars parked on the front lawn. 1:25

[@ReventureConsulting]

Fair enough. But rome wasn't build in a day. Two years ago people were saying "prices would never go down, inventory would never go up". And here we are.

[@soli4838]

Wht is more insane is ppl buying it!

[@relaxedmax8972]

Thankfully, the market always corrects itself.

[@rickss69]

What is not being reported is even with a $50K cut these homes are still inflated in price.

[@nophiliamurphy8749]

I could build a better-looking house out of popsicle sticks!😂😅😂

[@fenwer4387]

5 years ago, house was 350k. They inflate to 700k. Even 50k off, house still high. No crash, no crash

[@deseosuho]

Inflation hits everything. Even if we have a crash as big as the GFC you won't ever see 2015 prices again.

[@gerrybyrne5636]

And not selling. You'd be crazy to buy in Florida. Why would you put yerself in that quagmire, most corrupt state in the union. Full of grifters and con artists in office.

[@kylegrant9980]

Home prices hit a record high again this month.

[@TS-rd7oy]

I bought a house in Lutz, FL just north of Tampa, in 2016 for 125K, sold in 2021 for 256K. In 2022 the owners listed it for 435K!!!! How utterly ridiculous. Let it all crash.

[@ttgk8506]

Same story with my parents. Sold their house in 2019 for 238k and it sold for 515k 2022. Absolutely unsustainable

[@Singlesix6]

If the dollar was truly worth half as much as it was in 2021 the proper price would be double the 256k price in 2021 - that would be 512k !!!

[@kevinc8811]

@@Singlesix6 True

[@mrbHanoi]

Greed

[@DirectedVerdict]

I like that area. I used to stay in the residence there when I was in the area for business

[@kernelkorn6545]

Don’t buy a blackstone owned property. They’re counting on some sucker to bail them out. Let em eat the property taxes and insurance payments.

[@dmaster6088]

Blackstone don’t need to pay taxes they own the government

[@HenrykSienkaniec]

Don’t buy homes from scammers

[@gerrybyrne5636]

Their buddy Ron will bail them out.

[@picandvideo]

Uncle Sam pays expenses for BlackStone. Let those properties turn into coral 🪸.

[@jayogee913]

I mean, I'd give them maybe $20k for one, lol! Not a penny more!

[@nameblocked]

Great news. It would be excellent if the prices dropped at least another 50%. DO NOT OVERPAY for overpriced homes 😊

[@mrbHanoi]

Agree boycott till 50% drop

[@Nature5640-j1q]

Good luck with that 😂

[@mrbHanoi]

@@Nature5640-j1q There are other countries Expat 37 years 3 houses outside USA.

[@largol33t1]

Not enough. Needs to drop 70%. In some cities near where I live, prices are up almost 400%. Yes FOUR hundred percent.

[@baconblaster6422]

if houses in South Florida dropped another 30 percent on top of the drops they already have had in the past few months I think that would be fair. I think i’d be willing to enter the market at that points. Waiting exactly for 50 percent or 100 percent drops etc may just never happen.

[@dawson0610]

Many of those houses look like $150-200k homes at best. Its beyond me how people wast money on junk homes.

[@cabot100]

In general home prices are regional, in some areas homes like those in the video would be work north of a million dollars.

[@dawson0610]

@@cabot100 Those homes did not look like they are million dollar homes.

[@phreedomphile]

Yep, that home in Punta Gorda was last purchased in Sept 2022 for only $47K (asking price was $49.9K), with the previous and first sale in August 1996 for $75K. Listed in December 2023 for $525K. Crazy greedflation.

[@cabot100]

@@dawson0610 n general home prices are regional, in some areas homes like those in the video would be work north of a million dollars. In other markets homes like these might be valued closer to 150 thousand dollars. What part of home prices are regional is difficult to comprehend?

[@dawson0610]

@@phreedomphile Well 47k for a home is cheap but I think you meant 470k?

[@johnbennett757]

First, buy a house that you want to live in for 10 years minimum. Buying a house in 2022 and then trying to sell in 2024 is crazy.

[@xaviercasaled5284]

They are probably forced to sell for some reason like unemployment

[@dmoore2732]

@@xaviercasaled5284 No. Most thought they would be able to flip.

[@ReventureConsulting]

Good point. Long-term perspective and time horizon for real estate is best.

[@richardhudson1243]

I've been watching the housing market closely, Prices have been skyrocketing for years. It's going to be tough for first-time buyers to enter the market." how can one diversify $280k reserve .

[@michaelstrawberry]

It's not just the prices, but also the increasing interest rates that are making it more difficult for people to afford homes. With a good FA you can make up your portfolio.

[@tatianastarcic]

I agree. This is why I work with an investment advisor, I currently have $630k in a well-diversified portfolio that has experienced exponential growth.

[@StephenLogan-g2v]

in times like these, it's crucial to be cautious and not rush into the market , Who is this your FA , my portfolio needs urgent attention , been a lot of loss.

[@tatianastarcic]

I've experimented with a few over the past years, but I've stuck with the popularly ‘’Sophia Maurine Lanting” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.

[@Ibrahimmamad1]

She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.

[@PhilDavisplus]

A perfect storm in Florida. Hurricane damage insurers are leaving the state, and future buyers are watching the weather and saying; I'll stay in Kansas.

[@kortyEdna825]

I remember in 2007 when I was working in real estate seeing people buy homes new from builders with the intention of selling before close of escrow to a new buyer for profit. The crash was so brutal and fast that I remember seeing a lot of these units foreclosed on with the builder plastic still on the carpet.

[@Justinmeyer1000]

Since most people are accustomed to bull markets, they often find it difficult to handle downturns. However, with the right knowledge and strategy, you can profit handsomely. Yes, depending on your plans for entry and exit.

[@carssimplified2195]

The sustained bull market in US stocks stimulates both enthusiasm and concern, but it also offers possibilities with knowledge, as demonstrated by my $780k returns over the last ten months using a portfolio adviser with a well-defined plan.

[@PatrickFitzgerald-cx6io]

My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor?

[@carssimplified2195]

‘’Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.

[@PatrickFitzgerald-cx6io]

Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.

[@kpkc4931]

My co-worker has investment properties in FL, he thinks only % rates matter and believes he won’t be forced to reduce listing prices. He will be left holding the bag.

[@Keri1986]

Same.

[@kcor4]

I'm in Florida. I hardly give a shit about rates. The rates are moot if a shit box is $500k. The rate could be 0%. The prices are absurd.

[@AnonymousPerson0182]

He may lose everything due to his greed.

[@nophiliamurphy8749]

Good for him. This is what happens when your whole livelihood is based on cheating other people.

[@bymilliebphotography8249]

Your co-worker is in for a world of hurt. It's SO obvious when you look through Zillow and see all the price cuts. Listing agents are already using phrases like "motivated seller" and seller will pay $10K towards buyer's closing costs. Your friend is going to lose thousands, but true buy n hold investors will stick it out if they had a good plan to begin with. Unfortunately we will also be seeing alot of foreclosures, short sales and auctions. Anyone who bought high in 2022-2024 may soon owe more than the house is worth. Some sellers will have to write checks to sell their houses.

[@Lj_Steel]

Your research and up to date information on the Florida housing market is priceless. Thanks so much. We love your channel!

[@ReventureConsulting]

Thanks! Appreciate it. Make sure to check the data for your area on Reventure App: www.reventure.app

[@capt.sparrow34]

When my house had doubled in value in 36 months I knew that wasn't sustainable. Sold my house 24 months ago, debt free waiting for the crash. It's comming.

[@largol33t1]

I seriously doubt there will be a crash. Even if it happens. evil people like Bill Gates or Zillow will RUSH in, snap them up and relist them for three times their asking price. That's part of the issue. Too many big equity companies are buying up everything and pricing them to the skies. It's reached the point where having even $500K won't get you a 1,200 sq ft house. That's why homelessness is soaring and more and more people are living in RVs or their cars.

[@matthewbrandley9027]

I can't feel sorry for people that were foolish to buy at the peak and now losing big

[@je5406]

@@matthewbrandley9027 If they bought with the intent to live in the home 10+ years then the timing doesnt matter. They will be better off than those who keep perpetually waiting for the bottom.

[@Alex-de8kd]

Those greedy pigs fomoed into it and started bidding wars driving the prices higher up. The same people laughed at those who checked out of this garbage, housing market. Now it’s catching up with them. Nothing to celebrate here and nothing to feel sorry about.

[@AaronEmerald]

You know some people actually bought because they needed a place to live firstly.

[@kpkc4931]

@@AaronEmerald nobody HAS to purchase a home

[@AaronEmerald]

@@kpkc4931 yeah and I don’t have to wipe my butt either after dropping a load but it’s nice isn’t it?

[@TravelTechie415]

40k lost on the 200k they're trying to sell for .. still not enough, prices are too high 💯💯💯

[@Mtbr_Cody]

I live outside of Chicago. The asking price for the houses in my area are outrageous.

[@daviddent3351]

US home transaction volume so far in 2024 is the LOWEST IN 30 YEARS. When transaction volume collapses, prices decrease in the subsequent year. Be careful everyone.

[@minimalist0000]

Still waiting for real price decreases not just lowered from sky high asking prices.

[@daviddent3351]

@@minimalist0000Go look at the time-lag in transaction volume and price moves from 2004 to 2006. Read what Tolstoy said about Time and Patience.

[@minimalist0000]

@@daviddent3351 he’s been saying this for three years now, I sold my house in ‘22 and just signed a new lease so I have patience.

[@jimlowe287]

Thanks!

[@siouxrose7766]

Nick: Not sure if you know but a new hurricane, Milton, is forming and the weather models have it coming in close to Tampa. That would be the third hurricane hit to Florida in 2024 and the season is not over yet! The 88-degree Gulf waters are a fuel engine and whenever a storm forms there, its power grows quickly. The point is: Insurance has already been very high, but after these hits... it will amplify more. So you can expect to see more house price reductions. People who owned their homes since the last big downturn--say they got their homes for under $200k, can afford to bring the prices down $100k since the prices doubled from 2020-2023. Insurance and the unquantifiable stress that comes from running from hurricanes will also factor into the real estate calculus.

[@drjanines3301]

It doesn't help that Duhsatan has signed legislation in July 2024 removing (banning) the words "climate change" - Scott Rubio Gaetz & Steube all agree with him. Vote wisely - ppl & corp need to take responsibility for what we allowed to happen

[@joechang8696]

the problem is that the price drops may not matter, the low quality builder houses had too many short cuts that they are not worth the cost of construction

[@sonofrobert]

That's not a loss, the houses were very overinflated and should have never been that expensive!

[@CaptainCaveman1170]

It's a loss for the individual.

[@ChiefNutt]

@@CaptainCaveman1170 it was a loss at closing

[@ReventureConsulting]

It's definitely a loss for the owner. A big thing that will shift the market is when enough existing owners take losses, that will become expected. And we will see a reduction in the type of sellers who overprice the house.

[@raulp8191]

I just had a realtor in Orlando tell us to “buy within the next month instead of waiting for a year because prices are up”. I told them my data source, reventure app, and they said they had never heard of it, and that the national association for realtors says prices are up in Orlando. I also mentioned the interest rates are projected to be around 200 basis points lower (fed dot plot projection), and he scoffed and just said “we have different view points and that’s ok. We will see where prices are in a year”. Rubbed us the wrong way, to the point where my partner said she wouldn’t have bought the house even if it had been fairly priced and she loved it just because he would have been involved

[@magiala5577]

That realtor sounds like a typical Florida asshole

[@zacklewis342]

I work with realtors. They ALL buy into the culture of delusion and few pay attention to any macroeconomics. Just like stock brokers, they will all tell you the numbers only go up!

[@bryanleverett2830]

No one in Orlando would be foolish or purposely misleading lmao. Also…. Wanna buy a dodge charger from Miami ? Clean title, one owner lol

[@raulp8191]

@@bryanleverett2830 💀💀💀

[@rubenmejia942]

The reality is that realtors are completely overrated and many times useless. I think I will be ready to buy a house for myself sometime next year. I seriously would prefer to deal directly with the seller and simply pay an attorney to file all the legal paperwork. We all would save money and wouldn't have to pay some loser a commission.

[@larryknowles5010]

Like always Nick your knowledge about local Floridians is impeccable! Coming from a local I have witnessed it all and now I can finally see home prices coming down! Really Nick! I love the Raybans! Keep up the great work! Larry K Melbourne-Cocoa Space Coast

[@DirectedVerdict]

We got ahead of the market when we sold our house a few months ago (Saint Augustine). We couldn’t get any showings and had to make drastic price drops to get any traffic. The Florida market is in big trouble. We came out ahead because we built right before Covid, but from the peak we had to lower our price 15% just to get under contract. Luckily we closed and have moved on.

[@JuancoPRoFlow]

Why did you sell?

[@rickmohr8161]

What goes up must come down. Never buy during a bubble.

[@DannyFyffe]

What? Someone here besides myself understands basic economics? Thanks for saying what I have for years.

[@Joedor]

Zillow had me at 300k in Iowa, I sold 3 months later at 245k. Didn't have a choice, needed to sell per divorce. Bought at 239.5k in 2021, so a loss after commissions, etc.

[@surflifeimages]

I remember you calling this trend a couple years ago. Idaho exploding, Florida exploding. And you kept saying and showing that "the faster they rise, the faster they fall" Your foresight is coming to fruition! Good job.... You were spot on correct.

[@RFJersey]

Not really

[@je5406]

@@surflifeimages Even with a 25% drop, the price in the majority of the US will still be higher than when he began crying wolf in 2021.

[@johnnynick6179]

@@je5406 It's only just beginning. Expect over 50% price drops and then an explosion of foreclosures. If you've never experienced this before you have much to learn.

[@breadnaut]

Thats a 200k house at best. Its just an ugly box with the typical ugly cheapo laminate flooring.

[@TheCdrbaby]

But the flooring is home depot that's good right the guy that works there sead it was great everyone is buying it......

[@dbanka471]

This was an outstanding video- a confluence of factors especially in southwest FL -leading to significant declines in housing prices-they are currently wickedly overpriced; market changes due to covid hang over; significant hurricane & flooding impacts and ever increasing and expensive insurance situation; out of control HOA expenses-in addition to the new condo law regarding required repair reserves-- Wow, Reventure-what terrific resource

[@LavMaria-e5i]

From $6K to $73K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.

[@AbdullahiHassan-pz1cv]

Do you invest with a professional broker??I'd appreciate it if you show me how to go about it.

[@LavMaria-e5i]

It's Elizabeth Regina Nelsen doing she's changed my life. A BROKER- like her is what you need.

[@DevAntone-dc7si]

Her top notch guidance and expertise on digital market changed the game for me.

[@FlobbaLope]

Wow! Kind of in shock you mentioned expert, Elizabeth R Nelsen. What a coincidence!!

[@VraEmmri]

After I raised up to $255k trading with her I bought a new House and a car here in the states 🇺🇲🇺🇲 also paid for my son's surgery (Oscar). Glory to God shalom.

[@Jaysun1]

Apparently there's another big storm brewing that might be headed to the Tampa area. The Gulf coast has been getting wrecked over the last few years.

[@bryanleverett2830]

Good time to own a 3million dollar house on the water. Get the insurance (tax payers) to rebuild your house so you can sell in. THANX CITIZENS !!!

[@aaronelliott413]

all these remote workers getting called back because the companies are hoping a % of them will quite so they don't have to do layoffs!!!

[@je5406]

Good. Remote workers ruined housing markets across rural america.

[@javednurse7561]

Hi Nick, there is a house in South East FL that I see everyday. Someone paid $900k for it in April 2022, did some minor repairs and a repaint. Then listed it for $1.1m in April 2023, they also tried to rent it for $8k per month. Its now listed for $855k or rent at $5600 per month. Its still sitting empty.

[@rosemariekarg5231]

Excellent! Enjoyed this. Spot on.

[@sergioyovanisanchez7926]

Nice information and this is one of the true videos I heard ever in 3 years ago I own a house but Iam happy to hear housing is going down in prices tha way people that is not ready because of the price now they can afford one 🙏

[@frenchfred3]

here in Orange county they still go over asking price in a couple of days

[@hipolitorodriguez24]

Nick, I have heard you for years. Just joined your channel, you are the real deal brother. You have the ability and knowledge to run a fortune 500 company. Keep up the good work. Sellers will drawn and 2025 and 2026.

[@chemicalhalf]

I've had my eye on a townhouse in Seattle. It's been listed for about 6 months. Initially listed at just under 900k. Since initial listing it has dropped over $120k. Still no takers in about 3 weeks at that price... It was purchased about the peak of the market, and they are taking a loss at this price. One of the nicest parts of Seattle as well. Pretty wild. At the same time, I see people snapping up 1 bed houses for $750k. I'm just unwilling to spend a high percent of my income on a house payment in this uncertain economy, with jobs and wages also uncertain.

[@Markham12thcentury]

Washington real estate has gotten out of hand. I lived in Spokane, back from 2010 until 2014 (Also lived in Florida. Yeah, I get around) and back then, there were split-level, four bedroom, 2 bath houses for $145K. Some were even cheaper, at $130K. It's obscene what the prices have become. All to live in a Liberal Marxist hellhole? Nah. Hard pass for me.

[@3beltwesty]

Relative bought a house in Queen Anne in 1978 for about 72k. Had to put 20k down. They lived in this boarding house in the 1970s with a dozen roommates to squirrel away that 20k. That house was sold in 2011 for 510k . Was on market at 1.3 million this summer. House was built in 1908

[@sureshkaran]

I've seen $50k - $100k price cuts in some San Diego listings!!

[@smokeandmirrors5656]

Amazing for SD. They kept defying gravity.

[@je5406]

@@smokeandmirrors5656 price cuts mean nothing. Home sale prices are up from last year.

[@ReventureConsulting]

Thanks for the update! Inventory up 77% YoY in San Diego.

[@gregabrams5792]

Please do more videos about people leaving florida and what states they are fleeing too!

[@TheExtaliber]

we live in odessa and 2 homes sold in our neighborhood for near 1mill but these homes are 600k homes, one buyer was from arizona the other was from oregon they are gonna get hosed. Those 2 houses were on the market for only 14 days and i noticed the only houses being bought were the real expensive ones and its crazy to see these higher tax bracket houses also crash down to reality. People are gonna lose all their equity on fomo moving to fl.

[@johnnynick6179]

Stupidity pays the price eventually.

[@brianmatthews4149]

Can't wait for HGTV to bring back vanilla ice and his crew,there will be lots of foreclosures to rehab back there.

[@Zippy1415]

Talk to Michael Bordenaro for sunglasses advice 😸

[@beckytourian]

😎

[@3beltwesty]

My grandparents on one side of the family lost their land in the 1930s depression due to property taxes

[@Jithu_VA]

I have seen and learned from 2007 . I am not stupid to fall for this inflated prices . I feel for folks who bought cars ,homes in 2022/ 2023 . It will take a decade for them to recover !

[@je5406]

In 10 years people will wish they had bought now.

[@WillieFungo]

Wow, good thing there is a whole wide world outside of Florida.

[@CaptainCaveman1170]

Florida is always the canary in the coalmine. But Texas has taken a big hit punch too. It's just the second inning of this game, particularly if Trump seals the border again.

[@johnnynick6179]

YES - we are full-up and fed-up with all those who came down here disrupting our beautiful state. Go back where you came from and take your politics with you.

[@TeresaCha-v5x]

I think it’s going to take at least two years to get to possible bottom but maybe even three years!!! I’m willing to hangout until then!!! Sold our house already!!! In cash 😳😁

[@xray606]

I'm in a McMansion rebuild hood in LA. Just in the last few months they finally hit the wall. Numerous finished houses just sitting. A year ago they would have never even needed to put a sign up. The hilarious part, is that you have the clowns late to the game who built houses recently and listed them for double or even triple the going price for the area. One house these guys are asking 6.5 mil for a house that has a school yard on two sides, and average price in the hood is 1.6 to 2. Insanity. It's like some of these guys are living in an alternate universe.

[@carefulconsumer8682]

Excellent report, Nick. I wonder if the condos on Marco's Island have corrected?

[@georob7918]

Buyers are very nervous about buying/getting stuck with a flood house. Florida has to pass a disclosure law that sellers have to advise if their home had flood damage over 5k in last 5 years. Should be civil or criminal penalties.

[@babytripster9834]

Thats exactly my concern. For renters too. How else would they know if there's mold?

[@Storx-USMC-]

The average home price in Tampa needs to drop to 250-275k to even make it barely affordable to the middle class in this area. That’s my expectations. I bought my condo in 2009 for 80k and sold it in 2023 for $375k. Now it’s saying it’s worth 410k. I don’t understand how a 2bedroom became so unaffordable. The only reason I sold was because the HoA went from under $300/month to just under $1000/month. It was cheaper to sell and use the dividends from the proceeds to pay for an apartment

[@joelmallison]

The house in Punta Gorda and the Blackstone house in St. Pete are both pending

[@The_Forever_Soldier]

These Florida videos are great. Thank you. 😁

[@summaryjudgment]

Your narrative about buyers staying on the sideline has one big hole in it. Buyers know that we will be seeing rate cuts for the next 12-18 months. Why would they buy a house this month at 6.3% when they could wait until next month and get 6.1%, or wait four months and get 5.8%? This is exactly the reason why retailers don't advertise their Christmas sales in October; everyone would stop buying and wait. Bottom line: people who want houses are buying houses, and people looking for deals are waiting. Same as its always been.

[@ja1505]

None of these investors took into account the local market when they priced these homes. It's all about buyers and how much they can afford and are willing to pay for a home. On the Treasure Coast of Florida homes are still overpriced.

[@davidjensen4793]

Affordability with high inflation for basics! The average person is tapped out of money.

[@juliorivas7428]

Your presentations emphasize the areas of the country that became overbought; yet your reventure app (which is very informative) shows multiple areas in the country that have severe inventory shortages, and where the prices are still rising. Also, we are already in a recession, and the Fed is behind the curve on lowering rates. As the Fed rushes to lower rates in December/24 through May/25 (mortgage rates are, on a 15-year historical basis, still too high), regional housing markets where inventory is low will experience strong sales.

[@karinaoliveira3988]

I offered $9,000 less than asking price and seller in central Florida did not accept my offer. They will still walk away with $200k after closing from a purchase they did 4 years ago. I walked away.

[@georob7918]

Just wait for lower prices. Owners are still holding out for max profit. Watch out for vinyl laminate flooring on existing homes. Cheap flood repairs.

[@Shulamite_Bride555]

Today they are calling for up to 30 inches of rain for central Florida by next week and another possible hurricane.. you probably dodged a bullet by walking away! Not to mention you still would have been over paying by tens of thousands!

[@karinaoliveira3988]

@@Shulamite_Bride555 also with was a Dr Horton build so, HOA CDD and I am pretty sure high taxes and insurance. So honestly to rent a similar house would be $2,800, the mortgage on this property $5,000. I will just wait. But my realtor was not Happy, telling me that next year the price will be $100,000 more and then I can refinance to a lower rate.

[@rubenmejia942]

Keep your eye on the house. When the seller cuts the price, offer $9000 below the new price. 😂

[@JuancoPRoFlow]

What part exactly?

[@captainbrewer4795]

Looked at a home in Cape Coral FL in foreclosure and going to auction. Found out that it belongs to a fund that is over $1Million under water and is being foreclosed on. The house I looked at has no mortgage and is owned free and clear but being foreclosed on and auctioned off ..

[@BrianLyke]

Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!

[@Lionadmike]

Wow you give me hope

[@Lionadmike]

Am 49..am From Michigan…

[@GabbyMJ-md2rs]

Please how's that possible, I'm curious

[@GabbyMJ-md2rs]

Please how do i go about it, am still a newbie on investment trading and how can I make profit?

[@BrianLyke]

Don’t be confuse buying the dip in a bear market, with guaranteed future returns. Just because that company is down 60%+ from ATH does NOT make it a sound long-term investment. Make sure you’re investing in great companies. kudos to Sonia

[@mcconaughey8408]

Watching the market in reno. Inventory is finally climbing. Seeing houses bought in 2022 for 450k going for 470k and have been listed since june.... Just one case of many. Active inventory is steady climbing.

[@masminor]

Time for these rent seekers and speculators to bend over and say aaaah!

[@HiddenAgendas]

price needs to drop 50-80% for the reset / correction. plus insurance is out of control

[@rayzimmerman2242]

Comments at 10:00 Real price on a house should be what does it cost to build that house; used to be basic construction $100/sq ft: moderate upgrades $125/sq ft: Executive upgrades $150/sq ft add maybe $60K for lot and utility connections, and that is what the property is worth. This is the formula Blackstone used in buying the properties; asked local contractor what would be cost to build the house, then bid $1 over that cost. Or look at the value the homeowners insurance has on the house; insurance will not pay more to rebuild a house. We need to do away with comps and "what the market will bear" pricing so we do not have future boom and bust housing cycles.

[@ElisaOKeefeSmith]

Great information

[@SignalCorps1]

I agree but construction costs are higher than that now. Mid quality construction in my area is about $165-180/sqft + $15-20k for the lot. High quality, non-custom homes run about $200-220/sqft and are typically on $50k+ lots

[@johnnynick6179]

YEAH - That's how they price things in communist countries so why not do the same here. /sarc

[@rayzimmerman2242]

@@SignalCorps1 Aware construction costs are higher now with higher cost of lumber, copper wiring, copper pipe...thanks for your info..have not seen specific national or regional construction rates, is there a better source of information?

[@SignalCorps1]

@@rayzimmerman2242 I’m only knowledgeable about my area, which are the few counties around Austin, TX. Like you mentioned material is still up from pre-pandemic rates although has come down since it peaked in mid-2022, however construction labor rates have been really stubborn and barely off their ‘22 highs. I lot of this is because this area was grossly over permitted, so there still thousands of dwellings under construction

[@mcmlxii4419]

That house you pointed to for $699,000 has actually gone back up in price to $712,000. Those sellers are out of their minds!

[@markgotschall2914]

2007-2008 all over again.

[@masminor]

People will wish it was, this is going to be worse because home were not overvalued then plus many other reasons.

[@je5406]

Meh. Wake me up when we see it in all 50 states

[@MartinezRE1]

@@je5406facts

[@SRsizz]

Way worse then 2008!!

[@AnonymousPerson0182]

Hope to see that nationwide, but not likely.

[@mattanderson6672]

Brilliant analysis Thank you Sir!! Thanks Nick

[@jimsullins9162]

Bifurcated ?! Wow Nick, that's a good word :)

[@BitCrafted]

Updated weather models now show a stronger tropical storm or weak hurricane hitting mid Florida in about 5 days time. Looks like it will bring a lot of rain though

[@pamholloway-jw3cz]

I love hearing this because houses are unaffordable for most normal working people in America. I am happy these people who had the money to buy at the peak will have to take a loss because they were part of the problem. We should have boycotted buying at higher prices

[@alvarezgamers]

Prices here in Collin County Texas are dropping by 50 to 20 k, but still overvalued by 150k plus..... I'll wait....

[@AmandaBarcelloAzRealtor]

Same in phx area.

[@DigitalBathInAZ]

Absolutely. The Phoenix RE is wrecked and getting worse. There are so, so many STRs hitting the market being sold by people who thought they'd always be able to get $10,000/mo because of our seasonal tourism. Inventory/housing supply is skyrocketing.

[@DigitalBathInAZ]

The good news for RE pros is that once people price their homes correctly, transactions will start cranking up again.

[@AmandaBarcelloAzRealtor]

@@DigitalBathInAZ for sure! I have some clients that are over priced and can’t come to terms that the market is not the same and that they over paid 2 years ago.

[@cherylcampbell7495]

Can’t believe over 400 sun city, old sun city homes for sale over $300,000 in AZ. Aluminum wiring and ancient plumbing/pipes.

[@smokeandmirrors5656]

​@@cherylcampbell7495crap houses just west of I17, lipstick on a pig reno's, and in not so good neighborhoods asking insane prices. Glad to see prices coming down.

[@Antonio-ti2he]

I quote, "Don't need to pay a high price to get a quality product !" And that my friends sums up my thoughts on just about everything. 🤣😂🤣😂

[@pistol90pete]

Good luck insuring a very old, wood frame, two story house in St Pete or anywhere in FL for that matter. Worst case risk scenario for homeowners. Hopefully it's out of the flood zone.

[@timinclt7895]

Outstanding information! Thank you

[@LeahLewis-ny9iu]

I'm eagerly looking forward to a potential housing crisis to make affordable purchases after selling some properties in 2025. I'm also considering investing in stocks as a backup plan. Any advice on the best timing for these investments? I've seen significant trading profits, but there are concerns about the market's instability and the chance of a dead cat bounce. Could you explain why this market phenomenon occurs?

[@johnnynick6179]

@BrianAlbert-hh3pi SCAM ALERT - SCAM ALERT - SCAM ALERT - SCAM ALERT - SCAM ALERT - SCAM ALERT - SCAM ALERT - SCAM ALERT - SCAM ALERT

[@butterman4610]

Contact Hillary Clinton

[@davidchristoph573]

​@@butterman4610cattle futures

[@petergozinya6122]

Desiree gave my neighbor’s horse h3rpes

[@DaveT0818]

Well.. if the Kamala plan is enacted you will pay 44.6% capital gains tax on any gains not excluded (125k single 250k married).. everyone who thought their home was such an investment is about to get a shocking reality check..

[@ThomasMHP-we2mt]

I live right where you're walking . Your stuff is right on the mark . 😊

[@mikejones3155]

Those examples don’t include realtor fees and closing cost if they do get to closing they will be loosing even more , just to get it sold .. but they are bleeding money every month with carry cost . Utilities, upkeep and Mortgage payments and insurance..!!

[@Acc0rd79]

Hey a tent home!! They had to do that to my old home in Hollywood, FL when I was a kid in the 80s. You really don't see them in the Kissimmee area, I haven't anyhow.

[@arongilbert5828]

Dumb. This is like when gas was $1.90/g, went to $4.50/g then down to $3.50 and people think that it's cheap now.

[@aaron159r2]

But if you consider that a LOT of people bought at "$4.50/g", there can be a shift in psychology that continues to slow demand.

[@glenn71144]

Prices in Florida are going to get alot lower. Especially with the high insurance rates.

[@TBone136]

Your predictions are starting to hit reality. Falling knives in FL, Austin, TN, others...

[@CaptainCaveman1170]

In large parts of San Antonio it's starting to get to the point where if you want to list above 300k, there had better be a good reason...second story, pool, something.

[@sues3218]

I am seeing so many listings of wealthy homes for sale in Boise, Idaho, and surrounding area's. It is insane how many are up for sale for a million and above. I have never seen that before in this area. It is like the money is trying to leave.

[@gjsthreefoursevinoneone8945]

For years the houses that Nick is highlighting, were known as firs time home buyers houses. Old, old neighborhoods, small sf,.not so attractive. These perfumed pigs are primped up with laminate floors, coat of paint and Home Depot cabinets. Priced way over real value

[@CaptainCaveman1170]

Yes but if people are paying the price (and not defaulting), then that IS the new value. But I for one do see people defaulting en masse in the future...many strategically.

[@brianmatthews4149]

So you can put lipstick on a pig.

[@Bobafe77a]

Another great video , Nick. But the house for sale for $60k more than they paid vs the house a block over reduced by $50k has a fresher paint job. 😂

[@LoveDoctorDiggs]

It doenst matter if all the new housing is all over $400,000 and all the old housing worth buying is over $300,000. Its not about buying a house its about buying the dream house. The dream house is priced out for all the average home buyers. When the dream house''s comes down to $250k then the high intrest rates becom manageable. No reason for any one to be paying over $2,500 a month thats property tax included, for a 3 bed 2 bath. -__-

[@MrNunya-ci6lm]

Love ur show brother!

[@Fuxerz]

Great news for buyers. Wait buyers

[@MyFavoriteDaughter]

Fumigation/Termite tent treatments are very common in FL especially when selling. Sometimes buyer can't get a mortgage if inspection shows live termites.

[@argentpur86]

Interest rates have gone UP since the Fed rate "Cut". The bond buyers might Finally be calling the Fed's bluff.

[@glebb215]

Thanks for all your hard work.

[@FulcanelliRosetta]

Saying there won't be a crash is like a drug addict believing their stash will never run dry. It's about to be a bag hangover wake-up for a lot of people.

[@carajenkins-pz3zx]

I'm sitting here with my bag of popcorn 🍿 and down payment watching the market start to crash. I'm so disgusted with how expensive homes are in my region. We have a $125,000 combined income in my home and can't afford a home in Buncombe County NC 😡🤬

[@Dsgn7]

It's only a .5% interest rate cut so far. Needs to drop much further.

[@WasteDeep]

Nah, we need higher interest rates to keep inflation low.

[@jonathantaylor6926]

The bond market doesn't care about the FED's overnight rate. Since the FED's 50 point cut the 10 year UST is up 40 points.. mortgage rates will be higher tomorrow than they were before the FED cut.

[@CaptainCaveman1170]

@@jonathantaylor6926 Thank you. But all the bond yield charts are still screaming collapse in the near future, at least to me. But I won't dare gamble on bond yields, there's good cases to be made in all directions.

[@evanleftwick5662]

Seeing a lot of price cuts in San Diego county the past few months. Prices are still very high but appears it has turned a corner and heading down. It will probably take a while for sellers to smell the roses and realize it.

[@sosolovely8912]

Prices are finally dropping in Central Jersey.

[@AnonymousPerson0182]

Houses are sitting in Maryland, with some price drops. But, sellers are still thinking it's 2021 and pricing high. More listings being pulled from the market because of that.

[@kylegrant9980]

Homes hit record highs this month.

[@yourbrokershannon]

It is happening here in GA. I am in Atlanta. I am a Broker an my niche is property management and inventory is up for homes for sale and for rent. Some of the new investors that purchased to buy and hold can't afford the carrying cost and rent is cooling off so they are definitely not getting the anticipated rent, some are quietly selling off some of their inventory and for the owner/ occupants that purchased in the last 3 or 4 years they are out of touch with reality, we went from 1-2 months of inventory to 5-6 months of inventory. There is an abundance of rooms for rent and short term rentals. I am telling my owner/occupants to plan to live in the home for at least 7-8 years, and for those that want to invest I am advising them to look into the secondary markets because the city is overpriced. Also in some cases, and I am seeing it more and more, rent is cheaper than the mortgage. A correction is happening and I am glad. Affordability is an issue

[@johnsaylor175]

Everyone,,,, Nick is there for us,.. 😃👍

[@AnonymousPerson0182]

As long as you live in Florida! LOL