SHOCKING Housing Market Trends | Collapse Incoming

SHOCKING Housing Market Trends | Collapse Incoming
Houston, San Antonio, Austin and Dallas Texas. Are the local areas I study the most.

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Helpful Links:
1. How Much Interest Really Cost Calculator
2. How Much Can You Afford Calculator
3. Debt to Income Ratio Calculator
4. Amortization Calculator

0:00 - Intro
1:15 - Article
14:29 - Conclusion

Data Source:

#mortgagerates #realestatenews #housingmarketupdate

My Personal BIO, OUTSIDE of Real Estate Mindset:
Travis Spencer
Loan Originator #1044093
Amcap Home Loans
Equal Housing Lender
9999 Bellaire Blvd. Suite 700
Houston, TX 77036

Travis Spencer
TREC Provider #10299

Travis Spencer
TREC Sales Person Realtor #727233
Executive Texas Realty
417 Gentry Street Suite D
Spring, TX 77373

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[donaldwatson]

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.

[Encephalitisify]

The more money you pay down, the less the mortgage, the less interest, and the less payment. If a survey asked me if it took more than 20%, I’d say yes because the current interest rates absolutely require more than 20%. At this point it should be half at least to be able to afford it. Now, if you want to pay the bank a lot of money, sure, go ahead. Only put down 10%.

[talkingonline]

The reduction of active realtors in the marketplace should be a national security issue for the US. How can the country operate without commissioned sales people, known as realtors, who were defined as "essential workers" during the pandemic? I can't sleep at night thinking about a reduction in realtors! 😂

[brentmcculley]

I’m licensed in north Jersey and the standard commission here is 4% split between buyer agent and seller agent. So that’s 2%. There is a state tax (transfer tax) of about 1% that goes to the state not the realtor and it course title and closing fees the seller has but three are also not agent commissions. After you split your 2% with your brokerage (30%) and your team leader if you’re own a team (30-50%). You’d be left with about $2, 500 bucks on a 400k house. Essentially what I’m saying is that real estate markets are regional. Some charge 7% some like NJ it’s 4%. Some agents at the top are making a gross amount of money but the majority of us are hustling just to get by. Just like everyone else.

[franciscoenciso]

The real estate doomsday prophets are out again!!

[LionofJudah]

Dude I'm not obsessed with owning a house, I have children and they are outgrowing a small 2 bedroom apartment. I make decent money and still can't afford to buy. I have a big down payment too. People here in my area are also buying all of the fixer-uppers and renting them 1, 500 to 2, 000 a month. I saw some beat up houses come on Zillow and they were gone in less than 1 hour! Interest rates are horrible in high 7 too so I'm done! I've closed my loan 😡

[SacredZephyr]

Went today to check out new construction in my area. Looks like they aren't breaking ground unless you qualify/pay for it. Been seeing a lot of that or halted construction, which I find weird. Regardless thanks for the info Travis and yea I can tell you that most people in my age group are dying to buy a house but it isn't worth destroying your future when you can save up and purchase intelligently. I get the itch all the time but you and other in the RE Mindset group help me rethink and be more patient instead of throwing caution to the wind. Thanks again Travis appreciate what you do for us here!

[andrewreisinger]

As the spouse of a LO, I can confidently say loan officers generally make less than agents and do MUCH more work. In overheated markets, the amount of agents EXPLODE. In down markets like now, many agents (the bad ones) disappear.

[andyjax]

If you asked me to pay all of your closing costs, you're offer would be in the bin.

[SirCarlosMusicBMI]

Hi Travis 👋🏼😊❗️
You always have the BEST current data and information regarding all things Real Estate. And I LOVE these short videos.
Thank you brother.
Blessings, Carlos ✝️🙏❤️😊🇺🇸

[jsfnnyc]

Do your offers get rejected for asking the seller to pay closing costs?

[irveywaite]

Do not get ur advice from a realtor or u will get scammed 🤔

[boot-strapper]

I'm working 2 full time jobs ~350k/yr so I can stack cash and buy at the bottom in 2-3 years.

[OroborusFMA]

Collapse? What do you mean by collapse? It's such a vague term.

[zipporaid]

How people think you need more than 20%? Lose out on cash bids for the last 6 years. I didn't even understand it in 2018-19, when mortgage interest rates were at an all time low. Why go all cash? Investors

[Heero-xnrj]

How? Because the mortgage prices are through the roof!!!! People need an affordable price on both the house and the mortgage payment Travis

[nitekry]

I base a 1200 per month overhead. utilities, taxes, maint., services. so if that 350k home is ONLY! 2400 a month. really I count on 3600.

[ToucanZ]

So as you said they higher it climbs the more it should fall 40% ⬆️in 2 1/2 yrs!!!? What gives?

[CR]

Zero percent down. 2008 is coming. Nobody fixed anything.

[ConstitutionCurt]

People using Zillow is a joke. Their zestimates are always way behind and their sales are at least 6 months behind.