@carolerichard5250
How many cancelling when they find out the new property insurance premiums.🤔
@Lisa_688
Yup, as a buyer I’m fed up! I am a high income professional, it’s ridiculous that I can’t find an affordable house in New Jersey. Bidding wars, overpriced money pits, high interest rates, sellers making ridiculous “as is” demands that aren’t reflected in the price. I cancelled my contract in February because a seller refused to fix a septic system and the house didn’t appraise and the seller refused to come down in price. You can keep your overpriced money pit, no thank you! It took months and months to even get to that point to get a bid accepted and go under contract. The whole process was draining, aggravating and fruitless. There’s nothing good out there and even if there is, you’ll have to overpay and go through a bidding war with desperate buyers. Not worth the aggravation. I’m so done!
@libertysprings2244
When we were younger we didn't know the real estate agent got so much more money if we bought a more expensive house. They convinced us we should buy more than we should, the highest we could qualify for. The whole system needs changing to not base it on commission. It should be a rate per hour of the agents time, like an accountant or lawyer bills you for their expertise. And no contracts. If they suck, you should be able to pay and move on to another agent whether buying or selling
@-_Vegeta_-
I gave up on my agent, i wanted to put an offer on a property in south jersey. She wanted to know why i wanted to live there before she'd put an offer in. IM DONE!!!!! 2 more years before my kids are out of college and its North or South Carolina for me.
@scottl9660
I think the story is 57k homes had people back out on the contracts, AND were immediately back under contract by other buyers.
@mikem4432
Listings going for months without selling... Buyers are out as insanely overpriced are unaffordable
@MissDaniels315
Thank you for always answering our questions in your lives, you are very helpful 😁
@timsharkey8265
Talked to a few people yesterday on a Florida Facebook group. They are moving back to Southern NJ.
@jeffhadley3362
Houses are not a store of wealth, Nope They are a bill of expense
@K.MichaelShepherd
Hate I missed the live but glad there's a replay!
@1powerequalsgod
I think more people are waking up to a reality if they are home buyers per se is not so much price or interest rates. It’s more about do I have workforce income longevity to take on a lengthy mortgage like a 30 year mortgage. It comes down to where am I realistically at in my peak years earning cycle. For example, most people would buy a home in their 20 something years for a 30 year mortgage because they have more potential paying off the home early enough to still be considered young in the workforce versus buying a home 30s, 40s, 50s. These high home prices are too high for a 15 year mortgage so they must come way way down to make sense to the 30 somethings, 40 somethings and 50 something who rather not go with a 30 year mortgage but a 15 year an pay it off before retirement becomes something they want to do. Trying to pay off a 30 year mortgage in your 60s and 70s is going to be super hard for most people wanting to retire or stay in high paying jobs if they can maintain those positions. This why I believe in a housing market price correction is going to slam home sellers because they are likely thinking about retirement a the 30 year mortgage paid off cycle. If your a home owner right now knowing your aging a your 30 year mortgage pay off puts you into your 70s and 80s something years that’s too much of a month to month expensive burden you should not have to through. I been against the 30 year mortgage for years because it allowed home prices to double to the point it’s illogical for anyone to have to produce more income and staying active for 30 years doing month to month payments being burden and aging to senior citizens. What’s the whole point in all of that?
@MarySmith-i8q
My RE agent has recommended waiving inspections many times. Here in SW PA its still extremely competitive. We lost a house several weeks ago. All cash offer $5k over asking. Someone else bid all cash $15k over asking😢
@christinefera8868
thank you,Jen for clarifying your answer to Andrew. I started real estate four years ago and personally, I selected how many transactions I was dealing with at a time in order to provide my client the best service.
@mikem4432
Real estate end of the hype. Economy is going into a long deep depression.. with inflation or stagnation..
@ThisHourRadio
Buyers as a collective decide the price. The number of people who refuse to overpay for homes greatly outnumbers the people willing to pay 50-100k over asking price. Continue to wait and purchase your homes at a more reasonable price. At the end of the day home prices are not affordable for the majority of people. You can't sell a house that no one can afford. An interest rate drop of a quarter or half percent is also unlikely to change peoples minds on overpriced homes.
@dallidvargas916
FYI Redfin mixed their data, the top city with the highest number of withdrawn offers in TX is Houston not San Antonio. This is in alignment with other US areas where homeowners insurance is insanely high… However in the US overall we are still about 5+ million homes short and now building of new homes has virtually stopped in most markets… now add private equity still buying homes like crazy, I am sorry but the only thing that will cause a housing market crash is a massive increase in unemployment… not happening yet…
@anthonyb249
Very informative programs but if you could cut it into 2 or preferably 3 shorter ones you would most likely have more viewers attention .90 min looks too long and often people can't allocate that much time in one shot ..cheers
@tw8725
I'm a potential buyer but decided to stop searching for houses because I've noticed a 30~40% increase in listed prices over the last 4 years. I mean, with interest rates and home prices this high already, how does someone justify another 40% increase in listed price while everything else like, the environment, the school ratings, the hospitals... etc, remain the same. I simply don't see the reason behind this jump in housing prices and am also very concerned about further in increase in HOA, property taxes, maintatence fees and all that in the future.
@gerelynreynolds2391
What do you mean “no inventory”?? I see a lot of houses that are affordable and available for purchasing.!!
@tracy4aminute376