The bottom is falling out. Homebuilders doing massive price cuts across Florida.

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Reventure Consulting

Reventure Consulting

Күн бұрын

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@ReventureConsulting
@ReventureConsulting 3 ай бұрын
These builders are getting desperate in Florida. $54,000 price cuts. Huge mortgage rate buydowns. And inventory that continues to stack up. Track the data for your market on Reventure App: www.reventure.app
@torechmanguz65
@torechmanguz65 3 ай бұрын
Is the panic just happening in Florida or will it spread to States like California Texas or the rest of the United States.
@YuryBadanin
@YuryBadanin 3 ай бұрын
Cut prices, but not in Miami area
@loumason6120
@loumason6120 3 ай бұрын
Damn i subscribed to your channel when you had 40k
@BO-mb8rr
@BO-mb8rr 3 ай бұрын
​@@torechmanguz65 Texas especially Austin, TX is crashing rent prices and home prices.
@papilucca1
@papilucca1 3 ай бұрын
54k cut and those houses are Still overpriced.. they need to cut 50%
@cantstandtheestablishment4004
@cantstandtheestablishment4004 3 ай бұрын
Homes slapped together, sloppy work, and the builders are still asking a premium price? Are you kidding me? That 2600 sq ft house is NOT worth $400+K.
@rustyshaklford9557
@rustyshaklford9557 3 ай бұрын
I was going to say it looks like a barn, but barns have more character.
@kennethkirklin6959
@kennethkirklin6959 3 ай бұрын
Just like Pulte and DR Horton junk
@Carponchia-z8k
@Carponchia-z8k 3 ай бұрын
That's worth 1M in Canada now
@mr.frandy7692
@mr.frandy7692 3 ай бұрын
It's worth whatever someone will pay for it... technically. Lol. You can whine and moan all you want.
@l2xsniper1
@l2xsniper1 3 ай бұрын
Homes like that were easily in the 200's. They are awful construction though.
@miriamwallwin7868
@miriamwallwin7868 3 ай бұрын
What you present as huge decreases of asking prices is a joke. These homes have been so over priced for so long that 50% would be a good starting price and then negotiate down
@Celtics2025
@Celtics2025 3 ай бұрын
That has literally never happened before. Should have bought 3 years ago. I bet you were whining back then when houses were 50% lower in price and rates were 200% lower. Bad hit bro
@Rich-hm9ux
@Rich-hm9ux 3 ай бұрын
Exactly!
@davidmann2524
@davidmann2524 3 ай бұрын
You realize this doesn't happen overnight...that house will probably be 350k in a few years
@fishydubsfishing6516
@fishydubsfishing6516 3 ай бұрын
It's like the buy one get one free at the store the one that you buy the price has been doubled in it
@davidmann2524
@davidmann2524 3 ай бұрын
​@@Celtics2025lol you have to be an idiot to not see what's about to happen to the housing market...I wish you well
@Erikkurilla01
@Erikkurilla01 Ай бұрын
I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?
@jessicasquire
@jessicasquire Ай бұрын
'Overall, buyers hold a lot of the cards right now, and sellers are having to give out more concessions to close a deal." All the best, buying on sale is actually one of the best ways to invest in stocks, and advisors are ideally suited for such task
@PajinakStanovska
@PajinakStanovska Ай бұрын
this sounds considerable! think you know any advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
@PajinakStanovska
@PajinakStanovska Ай бұрын
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
@thehealthcarespot
@thehealthcarespot 3 ай бұрын
It's not just the price, it's the insurance as well.
@msbeecee1
@msbeecee1 3 ай бұрын
💯
@sheabilladeau1392
@sheabilladeau1392 3 ай бұрын
And the property tax. Some states have homestead exemptions that cap the increased property tax to 3% or something. When you build a new expensive home, you just pay that high property rate right away.
@Nobodyspecial5150
@Nobodyspecial5150 3 ай бұрын
Interest rate👎🏻
@GeoTactics
@GeoTactics 3 ай бұрын
Price - insurance - HOA fees - taxes... it's all going up and consumers can't do squat about it.
@guzmancharles7
@guzmancharles7 3 ай бұрын
Spot on, we were thinking to return to FL but prices and insurance will keep us away.
@albacus2400BC
@albacus2400BC 2 ай бұрын
My wife and I sold our house in Florida and moved to Texas. I invested some of the money from the sale in the stock market. The portfolio is up 300k this week. I guess she knows the investment is making profit, but we've never really spoken openly about it. It's one of the best choices I made.
@NormanGhali
@NormanGhali 2 ай бұрын
Wow, that's a good ROI. You trade or you have been holding all this while?
@albacus2400BC
@albacus2400BC 2 ай бұрын
Oh no, I don't really trade. Too complex and random for me. I work with a financial advisor.
@hildeman9533
@hildeman9533 2 ай бұрын
That's interesting . I've recently been exploring the option of working with an FA too. Any chance you could recommend who you work with?
@albacus2400BC
@albacus2400BC 2 ай бұрын
It's not very difficult to find. Marissa Lynn Babula is the licensed advisor I use. Just research the name. You’ll find necessary details to work with to set up an appointment.
@bestofcountry7637
@bestofcountry7637 2 ай бұрын
Thanks a lot for the recommendation. I'll check her out and I hope I'm able to connect with her.
@gogglespaesano1619
@gogglespaesano1619 3 ай бұрын
That's what happens when you pay 30/50% over fair market value!! People learned absolutely nothing from the 2008 market crash!!
@Celtics2025
@Celtics2025 3 ай бұрын
I hope so. I’m stuck in a starter home I bought In 2010 for 165k. Refi’d in 21 for a 2.2 15 year rate. I want a bigger home not on a main street but I’m not paying a 6 plus rate.
@Bread996
@Bread996 3 ай бұрын
These aren't individual homes that are overpriced. The whole market is high. This is/was "fair market value". If you want a house, you have to pay.
@rollthers3157
@rollthers3157 3 ай бұрын
I almost feel sorry for them. Almost.
@ttgk8506
@ttgk8506 3 ай бұрын
Everyone I know seems to be willfully ignorant and tells themselves the party will never end. These are the same people that didn't learn in 08 and 90s
@standinginthegap7118
@standinginthegap7118 3 ай бұрын
Exactly
@LinaresAnthonio
@LinaresAnthonio 3 ай бұрын
We no longer have a mortgage, my husband is retired and wants to travel to Thailand. We don’t splurge, but inflation has hit hard, and I want to relocate while DCA-ing into his TTSA, which is less than $400k. I'm cautious with rising costs and have discouraged the idea due to current insecurities.
@StephanieTroy-dp5gp
@StephanieTroy-dp5gp 3 ай бұрын
Roughly how much do you have in the RRSP? A financial advisor can help grow and budget your money for travel. My spouse and I always delegate our excesses.
@MariaRosewoodjane
@MariaRosewoodjane 3 ай бұрын
Hiring a financial advisor means getting help with cash flow, investments, risk management, estate planning, and legacy.
@LarosaJannet
@LarosaJannet 3 ай бұрын
An advisor can help you visualize how your RRSP fits into your overall plan and determine the best investment strategy.
@LinaresAnthonio
@LinaresAnthonio 3 ай бұрын
The ones I find are young and charge 1%, which I’m not comfortable with.
@StephanieTroy-dp5gp
@StephanieTroy-dp5gp 3 ай бұрын
Our FA emphasizes creating "worth-living assets" like memories, pursuing interests, and family trips, while growing finances.
@alexsteven.m6414
@alexsteven.m6414 2 ай бұрын
Rate cuts commence in June 2024, taking 6-8 months to complete. A potential crash, if any, might occur by March 2025. The soft landing narrative is gaining traction, making this big recession everyone is calling for less likely. With $1 million from a business sale, I'm seeking profitable investment opportunities for the next 3 years.
@NorthCarolinaForward
@NorthCarolinaForward 2 ай бұрын
Inflation has not always been around there was a 15 year period of deflation. Yes as prices went down income went up. Once you go to Fiat currencies with no tangible backing then inflation is an intentional factor. Patience, Cash on hand & Short Term Investments are key
@brantheeskimo
@brantheeskimo 2 ай бұрын
True. I first came across investing in the market in 2019. Already stashed about $480k in savings then, and the free money from the Government was pouring in, increasing inflation rate. I just got an advisor and kept the money there, just because I didn't want to keep the value of the money depreciating in the bank. Tbh, it's the best investment decision I've made since then.
@antoniaribeiro8073
@antoniaribeiro8073 2 ай бұрын
I think this is something I should do, but I've been stalling for a long time now. Mind if I ask you to recommend this particular coach you using their service?
@brantheeskimo
@brantheeskimo 2 ай бұрын
"Rebecca Nassar Dunne" is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
@MarcyLoccy
@MarcyLoccy 2 ай бұрын
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
@1on1IDPsoccer
@1on1IDPsoccer 3 ай бұрын
I work as a PM for a large builder, everything in this video is as accurate as they come. We have 30+ sitting specs all with massive price cuts and buyers dropping all the time. Hard being boots on the ground in a business with poor quality trades and high expectations. I would recommend all buyers get a 3rd party inspections, if your builder gets upset too bad. I prefer it, because I am human and cannot catch all the things in these homes. Love the channel help me stay ahead of my coworkers and prepared my family to brace in place for foreseeable future.
@vegasprogambler5336
@vegasprogambler5336 3 ай бұрын
what is the actual ALL IN cost to build these homes? in 2008 houses that cost $240,000 were being dumped for $80,000 just to get them off the books. THATS when we get rich...buying below cost.
@kurtleo3529
@kurtleo3529 3 ай бұрын
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
@leonardives1991
@leonardives1991 3 ай бұрын
You're correct! With the help of an investment coach, I was able to diversify my 450K portfolio across markets and produce slightly more than $830K in net profit from high dividend yield equities, ETFs, and bonds.
@patricia_nura3378
@patricia_nura3378 3 ай бұрын
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.
@leonardives1991
@leonardives1991 3 ай бұрын
Jennafer Beaver Turner is the licensed advisor I use. Just research the name. You'd find necessary details to work with to set up an appointment
@patricia_nura3378
@patricia_nura3378 3 ай бұрын
I just copied and pasted Jennafer’s whole name into my browser, and her website appeared right away. You've saved me several hours of arduous research, therefore I appreciate it.
@creissantrocheleau946
@creissantrocheleau946 3 ай бұрын
Jennafer Beaver has really set the standard for others to follow, we love her here in Ontario Canada 🇨🇦 as she has been really helpful and changed lots of life’s
@jaredjonesontv
@jaredjonesontv 3 ай бұрын
KB is the Spirit airlines of homebuilding.. hands down.. Its tough to resale because their stuff is so cheezy.. I get that people need affordable housing but man.. they should be half the price for the quality
@enzohballad7922
@enzohballad7922 3 ай бұрын
Amen straight to the point them and Ken at are priced like a semi custom home in Tampa they are trying to price their houses as homes by westbay that doesn’t make sense and when you look at the sqft it is ridiculous, between I watch your videos and I am subscribed to both of your channels keep up the hard work. Love your videos and sincere input.
@ericdelevinquiere9902
@ericdelevinquiere9902 3 ай бұрын
You cut the prices in half and then you might have a slow restart but anything less will just slow rot.
@thewatcher5846
@thewatcher5846 3 ай бұрын
I agree. The homes are only worth about 2/3 of the actual price..
@johnnyrobinson8168
@johnnyrobinson8168 3 ай бұрын
What builders would you suggest?
@bekind5738
@bekind5738 3 ай бұрын
I sued KB Homes and I won in California .Let that sink in.
@feilisong24
@feilisong24 3 ай бұрын
Breach of contract? Construction defect?
@claudinem6207
@claudinem6207 3 ай бұрын
I’m curious because Ive been waiting to buy and am scared of purchasing a new home due to the quality of these homes. Lots of friends in new DR Horton homes that are falling apart in Tucson 😮what was the reason you sued?
@charlesstevens3845
@charlesstevens3845 3 ай бұрын
@@claudinem6207DR Horton and KB homes are notoriously bad. I’d look for a house with a more reputable builder than those two.
@pitt5674
@pitt5674 3 ай бұрын
stop lying
@bekind5738
@bekind5738 3 ай бұрын
@@feilisong24 Construction Defect
@DonaldMark-ne7se
@DonaldMark-ne7se 2 ай бұрын
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
@kevinmarten
@kevinmarten 2 ай бұрын
Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!
@Jamessmith-12
@Jamessmith-12 2 ай бұрын
That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
@JacquelinePerrira
@JacquelinePerrira 2 ай бұрын
Mind if I ask you to recommend this particular coach you using their service?
@Jamessmith-12
@Jamessmith-12 2 ай бұрын
When ‘Carol Vivian Constable’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.
@JacquelinePerrira
@JacquelinePerrira 2 ай бұрын
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
@cindyonyoutube
@cindyonyoutube 3 ай бұрын
That homeowner interview was very interesting.
@RaymondKeen.
@RaymondKeen. 2 ай бұрын
I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?
@SandraDave.
@SandraDave. 2 ай бұрын
Investing in real estate and stocks might be a wise choice, particularly if you have a sound trading plan that can get you through profitable days.
@Jersderakerguoe
@Jersderakerguoe 2 ай бұрын
You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who were forced to witness the 2008 financial crisis could expect to generate a large wage.
@ScottKindle-bk3hx
@ScottKindle-bk3hx 2 ай бұрын
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
@Jersderakerguoe
@Jersderakerguoe 2 ай бұрын
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
@nicolasbenson009
@nicolasbenson009 2 ай бұрын
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.
@JohnnyLightningV10
@JohnnyLightningV10 3 ай бұрын
54k should be 54%
@mr.frandy7692
@mr.frandy7692 3 ай бұрын
@@JohnnyLightningV10 you act like $100,000 is a lot of money these days. It used to be.... not anymore
@JohnnyLightningV10
@JohnnyLightningV10 3 ай бұрын
@mr.frandy7692 You respond like the son of a dealership watching your nest egg go bye bye 🤣🤣🤣
@mr.frandy7692
@mr.frandy7692 3 ай бұрын
@JohnnyLightningV10 nope no nest egg.. but I have woken up to the fact that inflation is painful and here to stay.
@JohnnyLightningV10
@JohnnyLightningV10 3 ай бұрын
@mr.frandy7692 Yeah so you are an expert in economics? PHD?
@mr.frandy7692
@mr.frandy7692 3 ай бұрын
@@JohnnyLightningV10 Haha, are you saying inflation isn't a real thing? Are you aware how much money was created out of thin air in the last 5 years?
@MB031
@MB031 3 ай бұрын
We bought a house in FL in 2007 for $500K and it dropped in value to $285K in 2010 and today is back up to $835K, something is wrong, but this will happen again !!!!
@nitroneonicman
@nitroneonicman 3 ай бұрын
I'm sure you're glad it has appreciated but man wouldn't it have been nice to buy it at $285k?
@gregh7457
@gregh7457 3 ай бұрын
i saw pretty much the same thing you did. i bought in april of 08 a foreclosure in hawaii thinking the situation wasn't going to get worse. In sept of 08 lehman bro's went belly up and the market spiraled downward. I paid 428 and zillow showed it was 600 at the peak of 06 so i felt a little lucky but still watched it lose about 150k. I held onto it until 2022 and sold right before interest rates started going up. I got 8 offers and all were over listing price and sprinkled those offers were love letters from buyers. You are right, this will happen again. Its just a matter of time. You should seriously think of selling at 835
@Celtics2025
@Celtics2025 3 ай бұрын
@@nitroneonicman most people buy when it makes sense. You buy a house to live there and raise a family in. If it goes up great if not who cares if you can afford it.
@mrskinner8473
@mrskinner8473 3 ай бұрын
Yep. It will drop a lot more
@KohBril
@KohBril 3 ай бұрын
Good on you for staying put. Most people didn't have the nerve to. Nice profit!
@tatersquad2000
@tatersquad2000 3 ай бұрын
That talk with the local was the most insightful and entertaining thing I've seen in a while.
@steven4315
@steven4315 3 ай бұрын
Sounds like she had better learn to love the area, she's gonna be there a long time.
@msbeecee1
@msbeecee1 3 ай бұрын
Yeah it was pretty raw 🎉
@Paetaor
@Paetaor 3 ай бұрын
I built custom on a prime lot that we got from my wife’s mother. Hired a guy to oversee everything and 10 years later I have not had a single issue.
@JD-xo3xz
@JD-xo3xz 3 ай бұрын
After touring some track home builders and seeing the shoddy materials and workmanship, we purchased a 1/2 acre lot near the water for $60k. Found an honest custom builder, and ended up with an ICF home with standing seam roof and other hurricane resistant features for the same cost as the track homes. This one will be livable when the others are blue tarped.
@joemancurreri6635
@joemancurreri6635 3 ай бұрын
I have been here in NE Florida since 2005. built over 10 homes, working with local builders. all amazing workmanship.. real pride in their work. If you buy a home in a huge development, like Del Webb, the finishes are sub pare, But all homes meet the national Building codes. Please homes in Florida have an over lay code to meet a CAT 5 hurricane.. all this you tube stuff is junk news. making the you tuber $$$. The folks that are stuck up North love this stuff. Hope it keeps them in NY and NJ. (and MA, PA, IL, WA, OR, CA, Ct, VT, NH, DE, MD).
@HedgeFundCIO
@HedgeFundCIO 3 ай бұрын
The local was your whole podcast, she told us everything we need to know about Florida (many of us who live here always knew it).
@IsaacCastor-kq2ky
@IsaacCastor-kq2ky 3 ай бұрын
He doesn't know shit
@claytonbigsbee6639
@claytonbigsbee6639 3 ай бұрын
listening to the owner was eye opening. I now believe we're going to see a massive foreclosure wave worse than 2008. wow
@CoachStaci
@CoachStaci 3 ай бұрын
The prices in Florida are so elevated way more than they should be. Florida stuff used to be dirt cheap. So the prices have to come down way below $54k to get to a real level.
@lmk0799
@lmk0799 3 ай бұрын
The prices aren't 54k. That's the reduction in price
@jarvisaddison8560
@jarvisaddison8560 3 ай бұрын
Try telling these fools that thought prices were just going to keep going up. In Florida?
@selecttravelvacations7472
@selecttravelvacations7472 3 ай бұрын
My sis bought a house in Clearwater for $70K in 2000. It’s worth $380K now but still looks like a $70K house except for the new windows and doors she just got to upgrade the house. Still, she could likely sell it quickly if she wanted to because it’s under $400K so still “affordable.” Something has to give with the housing markets.
@selecttravelvacations7472
@selecttravelvacations7472 3 ай бұрын
@@jarvisaddison8560they did keep going up and up but what goes up, must come down.
@nottelling4828
@nottelling4828 3 ай бұрын
@@selecttravelvacations7472 : I don't know about selling it quickly. We bought a new build just last year for $417k, put $17k in upgrades, and are now trying to sell it for what we bought it for ($417k), and we haven't had a single in-person viewing or offer. Per the average home appreciation rate in Florida, we should be around the $450k mark, so there's definitely a market issue. Central Florida area for reference. There are also a lot of new builds in the Clearwater area, so your sis couldn't compete with them at that price point.
@flauze
@flauze 3 ай бұрын
No pity or sympathy for people who OVERPAID because of FOMO. For all the rest of us waiting, Good job !! Keep holding the line, and it will be our turn
@Neighborsteve-e7q
@Neighborsteve-e7q 3 ай бұрын
Down 54,0000. Ok thanks man........ Now Let me know when the homes have a $200,000 price cut. Next February I will be making offers at or around assessed value. Not in Florida.....taxes /heat 100°
@frankyhonnolus5528
@frankyhonnolus5528 3 ай бұрын
The point is it’s beginning to happen, not that we’re at the rock bottom. Don’t be a baby. By the time it becomes $200K, you won’t have money. If someone like you can jump in, it’s not a depressed market.
@nitroneonicman
@nitroneonicman 3 ай бұрын
Perfect! The more people like you that spend all your money at the top of the market will just make it even better for us who wait to buy at the bottom. So thank you in advance!
@jonathantaylor6926
@jonathantaylor6926 3 ай бұрын
Homes do not get a 200K price cut... they get four 50,000 price cuts over several months.
@CaptainCaveman1170
@CaptainCaveman1170 3 ай бұрын
We can fully expect the government to keep doing everything under the sun to slow the decline. 18 months is the minimum wait from here for a decent deal. Bottom probably in 27.
@CaptainCaveman1170
@CaptainCaveman1170 3 ай бұрын
​@@frankyhonnolus5528So, you know his financial situation? Or just being a troll?
@bt_explorer
@bt_explorer 3 ай бұрын
I bought a DR Horton home in 2005 in Arizona. When the Monsoon came 6 months later my house started flooding via the smoke alarm hole. Nerveless I sold and moved out to never return to a tract house.
@JohnEastmanExAttyAtLaw
@JohnEastmanExAttyAtLaw 3 ай бұрын
The prices are not actually crashing. A house should only gain about 2 or 3 percent in equity a year. These prices are going back to where they should be in 2019.
@ocmetals4675
@ocmetals4675 3 ай бұрын
Right... known as a crash. We don't refer to the 2008 crash as the "prices went back to where they should be in 2002" event.
@alexleanh
@alexleanh 3 ай бұрын
Nah, 2016. I calculated using my own house as the subject against a 3% increase each year.
@nitroneonicman
@nitroneonicman 3 ай бұрын
@@alexleanh You have to factor in wage inflation though. Wage inflation didn't keep up with goods inflation but it did accelerate in 21-23, so I think home values would have appreciated at the same rate as wages during that period. They still have a long way to come down nonetheless.
@JohnEastmanExAttyAtLaw
@JohnEastmanExAttyAtLaw 3 ай бұрын
@@alexleanh that depends on where you buy. in some markets, the home will never gain equity because nobody wants to live in the area.
@JohnEastmanExAttyAtLaw
@JohnEastmanExAttyAtLaw 3 ай бұрын
@@ocmetals4675 no. those houses were never artificially inflated in the first place. homes that were worth 100k went up to 250k within a year? you had people whose rent went up 500 bucks on the next lease. that is not possible. that is why everyone tried to sell their homes. they were looking for suckers. the agents knew what was going on. this is why they rushed people to buy. told them they had to because the prices would not stop going up.
@Muller_Andr
@Muller_Andr 3 ай бұрын
I’m a new dad, I moved closer to Santa Clara a few years ago and I’m thinking of purchasing a single family home there, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? I heard Nvidia and AMD are strong buys.
@AnkurYo
@AnkurYo 3 ай бұрын
it’s a personal decision, but according to Forbes, housing activities will remain stagnant for the most part of the year, so maybe hold off a little.
@Jennapeters144
@Jennapeters144 3 ай бұрын
it’s a personal decision, but according to Forbes, housing activities will remain stagnant for the most part of the year, so maybe hold off a little.
@AadhilaEesha
@AadhilaEesha 3 ай бұрын
Certain Ai companies are rumoured to be overvalued and might cause a market correction, I’d suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I making a whooping $738k in Q4 last year.
@Muller_Andr
@Muller_Andr 3 ай бұрын
this is all new to me, where do I find a fiduciary, can you recommend any?
@AadhilaEesha
@AadhilaEesha 3 ай бұрын
The decision on when to pick an Adviser is a very personal one. I take guidance from ‘Monica Mary Strigle‘ to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
@JoshAllen99
@JoshAllen99 3 ай бұрын
I bought a home from KB in Magnolia creek just in Riverview FL right by Parish. Same builder area as this one. I walked away from a $7k deposit and $1200 we paid at the design studio
@joshuatatum1496
@joshuatatum1496 3 ай бұрын
I’m in Texas and walked away from my $6k deposit and bought a pre-owned home for $100k less. Best thing I ever did.. Look at pre-owned homes and low ball the shit out of sellers and one will bite, that’s what I did!
@jsd354
@jsd354 3 ай бұрын
KB Homes, bad huh? Usually your first loss is your best loss. You probably made a good decision.
@Jersey1971
@Jersey1971 3 ай бұрын
You dodged a bullet. Riverview is crap now especially all that nasty traffic on the 301
@nysavvy9241
@nysavvy9241 3 ай бұрын
​@@Jersey1971 Yes, I lived there for 2.5 years. Sold my townhome last summer. Happy I did.
@fit4ya1975
@fit4ya1975 2 ай бұрын
@@nysavvy9241 Really? Where did you end up? I've been lookin for good areas. I'm 49 retired LEO and looking for a safe yet affordable for one income to live off of.
@senorhayomayo
@senorhayomayo 3 ай бұрын
Every time I spoke with a KB home owner in Texas, they hated the builder. Lots of problems, issues unresolved, denied warranties.
@Elder-Bryant
@Elder-Bryant 3 ай бұрын
Sounds a lot like Lennar
@drinkely8235
@drinkely8235 3 ай бұрын
I don’t think it’s KB alone. I bought from America West and they screwed me also. I believe what is happening is lots of liars and NO ACCOUNTABILITY from the developers. I got pissed off and brought a group of friends about 15 to be exact and we did a picket in front of the sales office. That was well worth my time ! We gained plenty of attention and had the project manager out there trying to get us to come in and talk. I told him to kick rocks !!!!!
@douglassmith3016
@douglassmith3016 3 ай бұрын
Those houses are going for *$400,000-$500,000?!* Inflation will bring us to our knees.
@johnhotz1400
@johnhotz1400 3 ай бұрын
And they're not worth $190,000 maybe $200,000 at the most
@SlayerSFoxeR
@SlayerSFoxeR 3 ай бұрын
That interaction was all anyone who's thinking about buying a production builder home this year needs to hear.
@AJohnson-m8t
@AJohnson-m8t 3 ай бұрын
Yikes!! Feel bad for the owners, as those houses look like they were thrown up with cardboard. I always knew this would end as a giant game of musical chairs in the latest game of boom and bust in Florida. Best of luck to all.
@antbuddy1
@antbuddy1 3 ай бұрын
You need to make more episodes LIKE THIS!
@andredaedone7732
@andredaedone7732 3 ай бұрын
I sold and left Florida in 2021 when all the people from other states were moving in.
@TheBlissTherapist2023
@TheBlissTherapist2023 3 ай бұрын
Where did you go though ? I need to do the same but need to find a better place to live/ buy.
@leedanielson7452
@leedanielson7452 3 ай бұрын
There's still moving here like crazy!!! unfortunately lol
@andredaedone7732
@andredaedone7732 3 ай бұрын
@@leedanielson7452 That is fine, I got out.
@andredaedone7732
@andredaedone7732 3 ай бұрын
@@TheBlissTherapist2023 I moved to Aiken County ,South Carolina.. I was looking at Summerville, Sumter, and Greenville but ended up here. I also entertained North Carolina but that is getting crazy crowded too. It is cheap here too.
@MB031
@MB031 3 ай бұрын
It's funny many people are moving from CA to FL and people from FL are moving to NC, never ending cycle 😀 but where else to go today ?! I'm still in FL.
@TheBlissTherapist2023
@TheBlissTherapist2023 3 ай бұрын
I live in FL and I see houses sitting but the drops ARE NOT HAPPENING YET! If they come down 5-10k but still 100k overpriced , that’s not really a drop! That’s all I’ve seen so far. Hoping it drops A. LOT MORE or else I’ll be looking to leave FL
@beckytourian
@beckytourian 3 ай бұрын
Me too. I live in Brevard County and the drops aren't really significant. And people are still putting new listings up for exorbitant prices. I really hope the prices drop in a meaningful (30 to 40%) way.
@JFreeUNC
@JFreeUNC 3 ай бұрын
In SW FL, I just offered 80k below asking price to a builder on a 600k home, and they accepted 60k below plus 10k in builder paid closing costs.
@Sassypants1957
@Sassypants1957 3 ай бұрын
We had a couple houses in our neighborhood in FL drop price by 100,000. Most have been sitting for 6 months to a year. I'm waiting for the bankruptcies. 2008, 2009 and 2010 nightmare again. I say, 2025, 2026 and 2027 are going to be a doozie!
@evan448
@evan448 3 ай бұрын
really appreciate your videos as a young couple without a house im just waiting for the crash in florida
@nitroneonicman
@nitroneonicman 3 ай бұрын
I do own a house, but I'm also in Florida waiting for a correction so that I can upgrade.
@frankgriffin6293
@frankgriffin6293 3 ай бұрын
I found a blueprint online I liked and had the main builder who has massive ties to the community build the home. There were a handful of very minor problems and they were good about correcting them. I had never built a home before so I told the builder to put what he thinks was best into the home. He actually did a great job and was not ripping me off. I have been in the home for 10 years now and am happy. Something odd I learned for an AC unit that failed every other year. If the AC stops working you can turn the AC 100% for 2 days and something can unfreeze and it will begin working again! I guess I finally got an honest AC person to look at my AC.
@scottford89
@scottford89 3 ай бұрын
I left Palmetto FL right next to Parrish. I bought in a DRH new build. I will say my house was well built and multiple inspectors told me so, but man Im glad i sold two months ago. I took my loss and left
@paulamaral5451
@paulamaral5451 2 ай бұрын
I plan to do the same next June it'll be 2 years I'm also in palmetto my house is well built also by Taylor Morrison
@timj9754
@timj9754 3 ай бұрын
I owned a kb home, I’d find empty beer cans almost everyday. They use the cheapest materials and sub contractors. I had many problems with the house including a leak from day 1.
@wedealrealestatewdre3678
@wedealrealestatewdre3678 3 ай бұрын
Nick great job as always. Just to let you know all FHA and VA loans are assumable. So you can also assume the rate on those loans as well. All you need to do is come in with a down payment large enough to get the seller their equity they are looking for. There are also no loan fees just the transfer fee. Keep up the great work my friend. By the way the content on your website is awesome. I am using all the information you provide to train new agents.
@douglascarpenter5433
@douglascarpenter5433 3 ай бұрын
Owner occupied only I believe no investors
@romanoguttadauro6116
@romanoguttadauro6116 3 ай бұрын
Welcome to Sunny Florida Folks Buyer Beware. Thank you Nick for your honest reviews and insight to the Florida housing market. I've forwarded your link to all my friends.
@blakeh212
@blakeh212 3 ай бұрын
Now that is wild, I don’t live in Parrish, but I used to have a watermelon field over there as I farm for a living. And as soon as I started watching this video, I told myself, “Damn that looks like the neighborhood they’re building on my old field!” And I was right lol! The people who owned the land sold 600 acres for $50k an acre, absolutely insane! As I was farming that season, I start in January and end in May, they already had houses finished and up for sale. I was also building a house in my hometown at the time and knew those houses were about to be built very poorly with how fast they were putting them up! Very sad!
@georgedreher2322
@georgedreher2322 3 ай бұрын
As an old-time developer once told me: Builders make their money off the land, the house is just an after-thought. Think about that when you start talking about quality builds.
@bonnieyarborough2918
@bonnieyarborough2918 2 ай бұрын
Your hard work is our lifeline. Thanks you do so much! You are a smart fellow, and a professional analyst. This type of thinking is what type of thinking style we all need before buying and selling real estate.
@jrjr3412
@jrjr3412 3 ай бұрын
$437k for that first house....I wouldn't touch it anywhere over $225k Second house at $512k...maybe $200k with all contingencies enforced.
@drewdrewson1384
@drewdrewson1384 3 ай бұрын
cringe
@unknowndriver6652
@unknowndriver6652 3 ай бұрын
People are losing their minds paying that much for a house
@Gmac_Greg_M
@Gmac_Greg_M 3 ай бұрын
@@jrjr3412 haha. Get real. This isn’t the 1990’s.
@jrjr3412
@jrjr3412 3 ай бұрын
@@Gmac_Greg_M You're right. The 90s were an era of realistic pricing. This is utter nonsense.
@Gmac_Greg_M
@Gmac_Greg_M 3 ай бұрын
@@jrjr3412 pricing was decent but you had crazy interest rates on homes. My parent’s home they bought in 1990 was over 12%!
@HodgeChris
@HodgeChris 3 ай бұрын
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighbourhoods. Then you’ve got Better, average sized homes in nicer neighbourhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
@brucemichelle5689.
@brucemichelle5689. 3 ай бұрын
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
@Justinmeyer1000
@Justinmeyer1000 3 ай бұрын
Personally, I can connect to that. When I began working with a fiduciary financial counsellor, my advantages were certain. I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2021 this time with guidance, Long story short, its been 2years now and I’ve gained over a million dollars following guidance from my investment adviser.
@PatrickFitzgerald-cx6io
@PatrickFitzgerald-cx6io 3 ай бұрын
This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
@Justinmeyer1000
@Justinmeyer1000 3 ай бұрын
‘’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
@PatrickFitzgerald-cx6io 3 ай бұрын
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.
@acm0332
@acm0332 3 ай бұрын
We had a similar experience in Buckeye AZ last year. The home we contracted (632k) for new build (Pulte), a similar spec home (upgrade and list price) was being offered for 100k less than our build which wasn't even complete, and the list prices had stalled.
@christophernejman
@christophernejman 3 ай бұрын
The working-class and retired people are leaving Florida because of the cost of housing, insurance, and taxes.
@Trace-l7k
@Trace-l7k 3 ай бұрын
Get a passport and visit Bangkok, when you see the price for a nice condo, one months rent in America pays for a one year lease, you may not want to leave. I sure don’t.
@TheOriginalHuckleberry
@TheOriginalHuckleberry 3 ай бұрын
Over crowded roads.
@thatswhaticallmusic252
@thatswhaticallmusic252 2 ай бұрын
​@@Trace-l7knice chick's too nice massages happy endings all year long huh
@michelleblackwell3798
@michelleblackwell3798 3 ай бұрын
It probably only cost the builder $75k to build that cheap house! Paying over $200K for a K&B home is a rip off! Never buy K&B homes!
@adamcarlesco1650
@adamcarlesco1650 3 ай бұрын
I've been noticing price drops throughout DC as well. Many properties have cut prices by $100k+ and now there are 50% more condos on the market than there were in 2019. Even in non-boom towns, you're starting to see it.
@robertjova5400
@robertjova5400 2 ай бұрын
Thanks for sharing To the lady being interviewed Had a friend 20 years ago like your situation They stood the course. They lived in that custom home for almost 15 years...😮
@EDAWG11885
@EDAWG11885 3 ай бұрын
I keep hearing the prices are crushing or dropping, but only seems to be down south. I live in the Northeast part of the country these prices here aren't moving.
@leedanielson7452
@leedanielson7452 3 ай бұрын
It's not that much different here in Florida... prices are going down very little.....
@ravendixon1099
@ravendixon1099 3 ай бұрын
I live in NC. A huge chunk of the northeast population have moved here. Our prices are stable & climbing. Our increases have been steady but not outrageous so they are palatable.
@Kin-28-8
@Kin-28-8 3 ай бұрын
The problem is that in order to have "permanent roof" with amenities like electricity, gas and water, either the tenant or the owner must somehow pay insurance and property taxes. As a result, a lot of people live in tents, at least in California, where I presently dwell. Not a single mortgage, tax, rent, or insurance. It amazes me how many folks I meet who tell me they live in their cars. This place is insane!
@Theodorebarba
@Theodorebarba 3 ай бұрын
It's becoming more and more insane by the day. Mortgage rates have been rising steadily (already over 7%). I often wonder if I should put my extra money into the stock market and wait for a housing crash, or if I should just buy a house regardless.
@Grace.h-t8o
@Grace.h-t8o 3 ай бұрын
Such concerns also come to me. After 50, I'm retiring early. I'm already concerned about the direction the future is taking, particularly with regard to finances and making ends meet. I'm thinking about investing in the stock market for the first time as well, but how can I accomplish so considering that the market has been in disarray for much of the year?
@Steven-u2u
@Steven-u2u 3 ай бұрын
For my part, I can relate to that. My benefits were clear when I started working with a fiduciary financial counsellor. I would always suggest seeking expert assistance in these situations so they can guide you through bumpy markets and simply provide you with indicators and tactics for knowing when to enter and exit the market.
@JacobPaul-n6p
@JacobPaul-n6p 3 ай бұрын
That's really interesting. My portfolio is getting smaller; how can I get in touch with your asset-coach?
@Steven-u2u
@Steven-u2u 3 ай бұрын
Her name is “Jessica Lee Horst” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
@LuciusKyrus
@LuciusKyrus 3 ай бұрын
Anyone who bought a home in the past 3 years are screwed. And why anyone would buy a NEW home in an HOA baffles me. The homes are built like crap, and it's an HOA!!!
@elminerosudaka4800
@elminerosudaka4800 3 ай бұрын
I had problem comprehending trading in general. I tried watching other YT trading channels, but they made the concepts more complicated. I was almost giving up until when I discovered your channel. I love the way you break down the content and explain everything in detail. The videos are easy to follow
@reiaysyineh7710
@reiaysyineh7710 3 ай бұрын
I've been making a lot of losses trying to make profit trading. I thought trading on a demo account is just like trading the real market. Can anyone help me out or at least advise me on what to do?
@elminerosudaka4800
@elminerosudaka4800 3 ай бұрын
She’s always on watsss app ⬇️⬇️⬇️
@elminerosudaka4800
@elminerosudaka4800 3 ай бұрын
+1573
@elminerosudaka4800
@elminerosudaka4800 3 ай бұрын
801
@elminerosudaka4800
@elminerosudaka4800 3 ай бұрын
6357
@christ9145
@christ9145 3 ай бұрын
Tampa resident here. Yes there’s demand, it’s Florida. We have a LONG way to go before the general population roll the dice and dive into the housing market. Insurance prices (property, flood AND vehicle), mortgage rates, TRAFFIC, general cost of living. We aren’t even talking about them HOAs and assessment values. It’s going to be a work in progress.
@georgedreher2322
@georgedreher2322 3 ай бұрын
News Flash to Tampa resident. Now they want to increase your property tax for teacher pay in Hillsborough County. It will be on the next ballot this year. Vote NO.
@christ9145
@christ9145 3 ай бұрын
⁠​⁠@@georgedreher2322I’m Pinellas county but yeah, I did read that.
@rollwithit5150
@rollwithit5150 3 ай бұрын
I bought a 3/2 with bonus room, pool and lanai, 2 car garage on .27 in Dunnellon FL or 229,000, i put 35k in upgrades, Im still in under275k. I was hoping to sell and make a huge profit but now we done fell in love with the house and area. On the bright side we are debt free!
@4Marktk
@4Marktk 3 ай бұрын
Someone paid $54,000 more right across the street Homebuilders "kneecapping" all their previous customers . How nice.
@thunderb00m
@thunderb00m 3 ай бұрын
Free market. Buying real estate comes with risks. It doesn't always appriciate.
@NullLang
@NullLang 3 ай бұрын
Don't drink the koolaid next time then ¯\_(ツ)_/¯
@rafaelhidalgo7103
@rafaelhidalgo7103 3 ай бұрын
That person will eventually walk away like 2008
@freeatlast.
@freeatlast. 3 ай бұрын
The market will eventually decide the prices, however participants are merely players.
@pagaporvista569
@pagaporvista569 3 ай бұрын
this is exactly what happened in the early 90s in the metro DC area, took a few years for people that bought in 89/90 to get their heads above water so they could sell the homes. New homes were going for about $50K less down the street. Same with 2009!!
@jaca786
@jaca786 3 ай бұрын
It's messed up. Thanks for sharing.
@slowridefpv9668
@slowridefpv9668 3 ай бұрын
Housing prices spiked when building materials went through the roof and never went down when the building materials came back down.
@breadnaut3087
@breadnaut3087 3 ай бұрын
Wrong. Housing prices spiked when Wall St started buying entire neighborhoods above asking price.
@alexleanh
@alexleanh 3 ай бұрын
Building materials never came back down at the same price as before. NOTHING did or will after an inflation.
@privateprivate5302
@privateprivate5302 3 ай бұрын
This is SUPER informative. My sis bought her house at true market value about 10yrs ago 8n Fla. The value skyrocketed. She thought she wanted a new home but doesn't like the atmosphere right now so she's opted to stay put Now Nick is saying the values may start to come down Im relieved she purchased when she did. She had VA FHA or something like it (dunno if you can qualify or get approved for both). At any rate, watching this o feel reassured that she will not wind up up side down should values decrease... BECAUSE she purchased before values were arbitrarily increased
@ALT_RIGHT
@ALT_RIGHT 3 ай бұрын
7:44 gets to the real point. Not just recession.. its a COLLAPSE!.Get ready
@redeemed3265
@redeemed3265 3 ай бұрын
I agree
@ThePerfectSeason1972
@ThePerfectSeason1972 3 ай бұрын
Nice interview!
@milspec8283
@milspec8283 3 ай бұрын
Im in Tennessee, 45min outside Nashville, and homes out here continue to sell like crazy, ive met alot of people like myself trying to get out of metro davidson co because the school system is complete trash and the cost of living is ridiculous. Lived in Nashville for 32yrs and it's taken a complete nose dive.
@seanpaul9164
@seanpaul9164 3 ай бұрын
I live in Winter Haven, FL and I’m just not seeing this here yet. I’m not sure if it’s going to happen here or not because houses are selling on average $160-$170 per square foot which is around what they have been for a year. Now, a little bit of detail into that, the homes that are around 1700 to 2000 ft.² are around this price. The homes that are bigger than this, can range a little lower, around $130-$150 per square square foot. Lastly, the houses that are 1500 ft.² and under example, are selling for around $200 per square foot. I don’t need to pay $39 a month to see that a crash is not happening here anytime soon I’m afraid. I mean even when interest rates went up I kept thinking like everyone else prices were going to come down but they haven’t. Oh, and by the way, this is for new construction and existing homes.
@dan-qe1tb
@dan-qe1tb 3 ай бұрын
Nick is either dense, or plays dumb to get vulnerable asset-less lower middle class people to notice the Reventure app. He's a failed mortgage underwriter, so probably trying to get revenge on the business. Suspect his sole source of income is the Reventure app. Travis has a similar story.
@Mytriumph650pre-unit
@Mytriumph650pre-unit 3 ай бұрын
$54,000 still won't cut it, still overpriced.
@alexleanh
@alexleanh 3 ай бұрын
And yet... they still sell.... hence the saying: There's a sucker born every minute.
@morthanlikely8516
@morthanlikely8516 3 ай бұрын
If you remember me, I've told you that I am in land surveying...I'm usually 2yrs on site before building 🏫. I have been told that all building materials for Single Family Houses is stopped. They are using up what is left. Hence her issues
@ArthurDentZaphodBeeb
@ArthurDentZaphodBeeb 3 ай бұрын
Buying in fast-growing areas is almost always a terrible decision. The constant supply of new homes depresses existing home prices - people want new, causing existing homes to rarely appreciate. The lady you talked to will take a big loss, and will take most of a decade for the rest to break even. Builders see the bubble and are furiously trying to unload inventory before the bottom drops out. But it happens every decade or so - it's like clockwork.
@papapickett7267
@papapickett7267 3 ай бұрын
Love how youre willing to talk to people who live in these places and get the inside scoop. Thats journalism. I did notice that whatever shoes you were wearing were squeaking so much I couldnt stand to watch the entire video.
@Christiane069
@Christiane069 3 ай бұрын
I used to be General Contractor in southern California. There are two major rule to buy a house. Rule number one: Never, EVER buy a track home. Rule number two: Refer to rule number one. PERIOD.
@joaquincortada1483
@joaquincortada1483 3 ай бұрын
The supervision on these track homes suck.
@seanm954
@seanm954 3 ай бұрын
Why not? That’s all that’s being built right now.
@Matt_K
@Matt_K 3 ай бұрын
Why? When I was moving from Northeast NJ to Northeast FL, I had to buy one of those because in '21 there was no inventory. So I'm legit interested why it's a bad idea.
@batcactus6046
@batcactus6046 3 ай бұрын
That's a tract home, tho.
@Christiane069
@Christiane069 3 ай бұрын
@@Matt_K Poor quality. I work as a supervisor on several project, so I know what I am talking about.
@brianborkowski5977
@brianborkowski5977 3 ай бұрын
People are forgetting that a seller of an empty home with a 443k mortgage at 7.1% in the 1st year pays 3k/month,which is nearly all interest, plus property tax and PMI, and home insurance. So likely 4k/month loss on investment (on top of loss from original costs to buy and sell the home plus the loss if they sell below the purchase price)
@PatrickFoley-vf3lr
@PatrickFoley-vf3lr 3 ай бұрын
Prices here in New England are still up up and away. Here in RI, a state never known for good jobs, the median price is now 494,000.
@breadnaut3087
@breadnaut3087 3 ай бұрын
That is absurd. RI is a shithole.
@paulamaral5451
@paulamaral5451 2 ай бұрын
I'm looking to move back sometime end of June next year but I look at the prices RI and MA worse in MA still very high hope they start dropping somewhat
@gregs8685
@gregs8685 3 ай бұрын
Nick, great video as always. When you talked about the seller trying to flip that house you said he’s owned for a year and has a 7.1% Apr mortgage. It would be interesting to see an illustration of what the monthly carrying costs are for one of these homes. Mortgage interest + HOA + insurance + taxes. The interest costs for a 7.1% mortgage, especially in the first few years, must be insane. With the way amortization works you’re paying almost nothing toward the principal which adds to the pain of the dropping value.
@saadhussain6155
@saadhussain6155 3 ай бұрын
Surprised you didn’t mention anything about buyers now having to pay the agent fee???
@geysi6122
@geysi6122 3 ай бұрын
Forget the interest rate! It is all about the purchase price!!
@dan-qe1tb
@dan-qe1tb 3 ай бұрын
Lots of wealthy people from New England can afford to pay cash, and don't have to buy insurance either. It isn't fair for the locals in many touristy towns where snowbirds like to spend money during the winters.
@kaptaan_original
@kaptaan_original 3 ай бұрын
Nick getting eaten alive by bugs. That's something no one talks about in Florida.
@nitroneonicman
@nitroneonicman 3 ай бұрын
a few skeeters never hurt anyone
@kaptaan_original
@kaptaan_original 3 ай бұрын
@@nitroneonicman especially if you have lemon balm or other product to keep them away. Btw, it's the noseeums that cause the real problems
@nitroneonicman
@nitroneonicman 3 ай бұрын
@@kaptaan_original The noseeums don't affect me much tbh, my gf does get crazy rashes from them though.
@tobyk5149
@tobyk5149 3 ай бұрын
F that noise
@noel4854
@noel4854 3 ай бұрын
@@nitroneonicmanmosquitos are the deadliest animal on the planet
@bloodyblade916
@bloodyblade916 3 ай бұрын
You're great at your job young man you explained everything perfectly
@Brookm-e2q
@Brookm-e2q 3 ай бұрын
The $54,000 cuts are still not enough!!! Prices are still wayyyy too high! Doesn’t make a difference honestly
@yeshiwasengda1853
@yeshiwasengda1853 3 ай бұрын
Reventure Consulting video is always my choice As a home buyer I am waiting more affordable Video Thanks a lot
@christophergaudreau9265
@christophergaudreau9265 3 ай бұрын
Florida is a LOW WAGE state. The reality is "most" Florida families cannot afford any more than a $200k house. And that is the Absolute TOP of their budget . . . $150-175K would be more REALISTIC . . and EVERYTHING is more than DOUBLE at $400K++
@georgedreher2322
@georgedreher2322 3 ай бұрын
Live 25 miles east of Tampa in an established peaceful neighborhood. Purchased 4/3 pool home on large lot in 1997 with $cash for $165. Added double-pane windows & fiber-optic internet years ago. Staying "hunkered-down" at present while this economy is destroyed.
@croomcas
@croomcas 3 ай бұрын
It's cool to hear from people who actually live in the places you visit.
@originalk9111
@originalk9111 3 ай бұрын
Yeah lol $54,000 price cut from a $500k house still expensive for 99% of us, so we all will wait couple years for the really price cut .
@Handcock1702
@Handcock1702 3 ай бұрын
Just the start
@ArthurDentZaphodBeeb
@ArthurDentZaphodBeeb 3 ай бұрын
Sadly, housing almost never drops as much as one rationally thinks it will. In the Great Recession, the worst case was ~30% decline and it was vastly worse with so many Liar Loans and unemployed. I'd expect a 20% decline in vastly overbuilt areas (Florida/Texas/Nashville etc). The economy is significantly better today - record stock market/near-50 year record low unemployment. People are working and their 401Ks are flush.
@maggiemay1434
@maggiemay1434 Ай бұрын
I don’t know how this ended up in my feed, but this guy is catastrophizing a normal supply-demand cycle. This is not a repeat of the 2007 housing crisis.
@charlottepeukert9095
@charlottepeukert9095 3 ай бұрын
It's called price correction due to the upcoming recession. What I don't understand is, how people even consider buying these houses. They're located in an unattraktiv area, away from any infrastructure.There're no shops, no supermarkets, no medical practicinors, no vets, no gyms, no car repair garages, no schools, there isn't even a cemetery near by! Where's the park?!It's a housing desert. And don't even get me started with the poor housing quality. Why aren't these houses build of solid materials like brick or at least concrete? That's all wood with plaster and cardboard. A house has to be build for generations to come, especially if they ask you to pay 400 000 for it. I expect a well build palace for that kind of money!😢
@sarahporretta3268
@sarahporretta3268 3 ай бұрын
We love your analysis. I sound so much smarter after we listen to you!
@DMill791
@DMill791 3 ай бұрын
Builders probably only spent 80k in materials and 30k in labor to throw the homes up.
@bvswtwolves21
@bvswtwolves21 3 ай бұрын
Ashton Woods home tried to sell me on a 3 bed townhome for 429K $200 hoa in Atlanta. Feel like I want to pull trigger but the home were thrown up so fast and they cut it by 30k. They keep telling me I will miss out
@TexasRiverRat31254
@TexasRiverRat31254 3 ай бұрын
In ten years you'll be replacing all the appliances, most of the windows, doors and even some of the HVAC equipment because they're using the cheapest units on the market. It's a no win situation unless you can find an existing house where some owner went through and fixed everything, passed away and the family just wants to unload it and split the cash. Good luck!
@its_foi
@its_foi Ай бұрын
To be fair, any house made with cardboard and drywalls should be list cheaper compared to houses built with bricks, clay, and cement with metal stakes… Florida is at risk of getting flooded and hurricane, which are not in a great term with drywall, cardboard and wood in a long term due to humidity that can create mold.
@jp__878
@jp__878 3 ай бұрын
Live in the Tampa Bay Area all my life never heard of “Parrish, Florida” before. Looked it up and there is absolutely nothing out there 😂
@georgedreher2322
@georgedreher2322 3 ай бұрын
Live in the Tampa-Brandon-Valrico area. We used to go down there years ago to pick vegetables for canning. Back then it was nothing but "flat" farmer's fields.
@AngelEyes-xm7el
@AngelEyes-xm7el 3 ай бұрын
The insurance and taxes are horrible in Florida.
@RobertCade-s3z
@RobertCade-s3z 3 ай бұрын
$54,000 price cut sounds good until you consider homes in FL are 30% overpriced. That would mean that the house should have been dropped 30% or $120,000 just to be in line with the rest of the market. No thanks.
@LosShorts-ys2ic
@LosShorts-ys2ic 2 ай бұрын
Thank you for your excellent videos and for presenting facts rather than opinions, which is very valuable. I enjoy your videos, and I feel everything you’re saying is accurate. To see what you're talking about, drive north on US 27 and the area of Davenport, Haines City, and Orlando.
@NatashaMurphy-zf5rj
@NatashaMurphy-zf5rj 3 ай бұрын
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance or fear of the market crash, but if you want to make your money work for you...prevent inflation, start investing.
@JenniferAddams-t9v
@JenniferAddams-t9v 3 ай бұрын
Interesting, This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro Investor?
@williandouglas8140
@williandouglas8140 3 ай бұрын
I feel Investors should exercise caution with their exposure and.exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or a licensed expert in order to navigate this recession and achieve potential high yields
@AlexSloan-w8o
@AlexSloan-w8o 3 ай бұрын
Prioritizing effective personal finance management holds greater significance than the sheer amount saved, irrespective of income source. Consulting a certified financial advisor such as Stella Cornwall can offer tailored strategies to optimize financial results by reducing expenses and enhancing income, regardless of whether it's earned through employment or investments.
@gabrielwade9575
@gabrielwade9575 3 ай бұрын
Stella Cornwall stands out from other financial advisors because of her realistic approach, unlike those who often set unattainable targets and fail to deliver. She's truly unique!
@ZoeBarnes-u5s
@ZoeBarnes-u5s 3 ай бұрын
I totally agree! Her transparency is something I really admire. She's open and honest about everything.
@andreac3362
@andreac3362 3 ай бұрын
At 7:51; is that driveway fenced in?
@GregF-k7w
@GregF-k7w 3 ай бұрын
Florida has too much traffic and humidity.
@ryanotis7289
@ryanotis7289 3 ай бұрын
Great work Nick!
@BIgBass255
@BIgBass255 3 ай бұрын
Price sells everything. I'm waiting for the absolute forclosure auctions.
@jt2964
@jt2964 3 ай бұрын
My husband just got back home from Home Depot. He overheard a guy on his phone telling his laborers that they were being let go, and, hopefully he can bring them back after January 1, 2025.
@jerrycampbell-ut9yf
@jerrycampbell-ut9yf 2 ай бұрын
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quite mediocre neighborhoods. Then you’ve got Better, average sized homes in nicer neighborhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
@Peterl4290
@Peterl4290 2 ай бұрын
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
@larrypaul-cw9nk
@larrypaul-cw9nk 2 ай бұрын
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
@sabastinenoah
@sabastinenoah 2 ай бұрын
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
@larrypaul-cw9nk
@larrypaul-cw9nk 2 ай бұрын
Annette Christine Conte is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment...
@sabastinenoah
@sabastinenoah 2 ай бұрын
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
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