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I like the PIP Kevin mode
20 seconds in, you said buyers are being told a lie. I'm going to guess the lie is supply shortage.
"most people won't hold the loan for 7 years"….I really don't get this. Why do people move so often nowadays? Hell, my grandparents built their house in 1946 and lived there until 2012 when my grandma died. And honestly if I can find a house, I don't want to move ever again. I want a place where I can just live for the rest of my life.
To borrow a line from Clint Eastwood "Are you feeling lucky punk? Go ahead buy that house." OK so just a touch of artistic license there.
It's such a scam how you have to re-pay for title insurance every time you refinance. The title insurance policy should be good forever as it is good forever provided you maintain the same loan. It's A RIP OFF
Traditional seller is a homeowner. Most homeowners have low rates. Never going to sell with these rates. Institutional owners, even if they sell, will barely make a dent in the inventory, and if so, will only be in certain crappy cities lol.
Market is a uncrashable! Stop watching silly meet Kevin videos.
Kevin, the federal reserve and your local lending rates all follow our bond market in the US so when the Chinese in the Japanese and the Europeans sell their US treasury holdings what is gonna happen to mortgage rates
You never talk about home affordability. It is out of whack. How do you think that effects pricing?
What about HELCs? One would avoid many of the fees of a refinance.
Jami Dion predicts rates will keep rising since inflation is "still not under control" and that Powell will hold it there for a while if not for along time in an attempt to "normalize" rates back to 5-7%.
Housing hell for who?
I agree totally with you. Just think what will happen when the inventory starts to increase 🤔
House prices are driving inflation, if they go up after lowering rates, inflation will just come back.
S FL is on 🔥. I put a listing on MLS, and 41 people came on the 1st day, 15 on Sunday, and 7 offers 3 cash way over sales prices. The house was all original from 1997. DOM 3! But in New Port Richey, there are SF ranch homes sitting on the market for months at $239k dated but at the gulf vs St Pete where my investor friend is building spot homes for cheap and land 5000sq ft is going for $150k.
Kevin your RE app is appart of the issue not the solution
Spot on feedback on dating the rate and marrying the home yikes!
Tomorrow: invest in markets, they look amazing!
You can always refi. But definitely wait until the prices come down. Interest (as Kevin himself has ALWAYS said) doesn't matter. Credit score doesn't matter.
Can't wait for a 25% drop
Back in the 80's we were telling them it needed to drop 2% and you stay in the house for 2 years to get payback.
its real simple. If you know what have been driving the housing market for the past 5-6 years. Because its not people looking for a house for themselves that has been driving this market. At these rates all the people sitting on AirBNB properties will not be able to make their mortgages.
Kevin can you provide some thoughts on Virginia. Northern VA for home price
I like the points you brought up in regards to refinancing, thank you
Damned if you do, damned if you don’t. I guess I’m hoping to buy when prices drop and rates are high. I feel like it’s the lesser of the two evils. Would hate to be sitting in a house that I paid way too much for and be upside down for who knows how long. 🤷♀️
THIS!!!!! My appraisal for a refinance was SO rough! Even though the value of the home was up 30k, it came up $15k lower than what I had bought it for in 2019. I wasted $500 for the appraisal 😢 ITS NOT A GARUNTEE. -owner of 3 homes
I have that same JACKET!!!
If I had a chance to ask, my question would be about Resonate. Did you hear about what they offer to a retail investor next door? Well, it is an instant, upfront payment on the present value of your future yield, in exchange for locking your tokens..resonate finance
Hahah wow my buddy told me the same thing…. He’s a realtor 😅