The Housing Market Is Changing Again... (market crash soon?)

🌵 Work With Javy in Phoenix, AZ

🪙 Resources I Have Gathered For You

🤙 Join The Community

#realestate #firsttimehomebuyer #javiervidana

[pooky]

My friend is a realtor in Arizona. He says a lot of the homes he has put under contract have been appraising too low and the buyers have opted out. This just shows that the homes in AZ are overpriced.

[bradbradman]

I’m waiting for the market to cool off, I’m not going to participate in the bidding wars and over pay, prices are way to high for what most of these houses are. Thank you for your videos your cool calm and candid.

[JuniorRoxx]

This sounds promising. I'm looking to buy soon but not at these ridiculous prices. My eyes are on the market daily/weekly to see if there's any changes. Praying it becomes a buyer's market sooner rather than later.

[meligarcia]

Even if you’re market prediction is wrong, I hope you don’t delete the video because as a prior seller (now buyer) I appreciate your videos and the thorough break down of your analysis!! Keep em coming Javi!! 🎉🙌🏻

[Speederjp]

I'll take my chances with next year. Once everyone gets evicted because backpayments are due and the banks are holding onto a surplus of houses i will buy for cheap.

[knmart]

Hi, I'm in SoCal, Los Angeles County to be exact. I've seen more homes come on the market and more "back on the market" listings. I've put bids on four homes before realizing what was truly important to me. I'm glad now that none of my offers were accepted. I now know exactly what I want and what I'm willing to pay. I haven't seen anything come on the market in the last two weeks that has peaked my interest. I have great credit, my job is stable and I am willing to take my chances. I refuse to be house poor just for the sake of owning a house. Thanks for the insight.

[LydiaSantiago]

I love your videos. I still watch them even after I bought a house.

[dean]

So Cal is still hot, but I’ve noticed locally that sellers are pricing houses a lot higher and therefore houses are not necessarily getting sold right away. Good priced houses are gone quick and lead to overbidding. Always a good strategy to price lower and let people bid. Sellers starting sky high aren’t getting anywhere.

[MaskedMageYT]

Man i hope your right. So many of the landlord's now own like 5-10 houses, all leveraged on loans. They just want to get rich to quick to fast, and also by doing it off other people's back. Don't get me wrong not everyone does this but alot of the mindset of real estate investors is: buy up inventory in an area, renovate them as little as possible(most cosmetic) then raise prices in the area not only to buy a house but to rent it. Investments have risk and I hope the government doesn't bail these leeches out.

[kyrie]

My Dad and I are moving from California to El paso, Texas since it's a lot cheaper to live there. We actually got contracted this week! ☺️ Its a beautiful new house which started at 220, 000 in May and dropped down to 204, 000 on September 3rd. We were able to quickly snatch it up for ourselves and we didn't have to compete with any other offers, thankfully. We are over the moon in love with the house and still can't believe we were able to get it. 🥰

[danaportis]

We are in escrow on our home we are selling in So. Cal. The home has multiple offers after its’ first weekend showings. We accepted an offer $30k over list price of $630k. We had strong offers of $645k and $660k and chose the latter.. hoping our agent had countered the former and they had a chance to increase their offer. Basically sold after a week on the market.
We staged this home and it was gorgeous! As a former rental property of ours, we decided to get out of that business on this property due to our Governors’ rights to tenants to not pay for one year if they are in distress due to Covid. No help to landlord. We will take our profit and leave the state.

[sammywhite]

My agent in San Diego says he has an insane amount of homes about to go to foreclosure. Told me to wait it out, prices going to drop like a rock.

[DarrenWigfield]

"Back on market" is just as likely to be indicating that a bidding war led to appraisal issues. Cash strapped, ill prepared (reactionary) buyers are bidding up houses but don't have the cash to make up the gap when the appraisal is low. Sellers know they had multiple offers above the appraised value, so they go back to market hoping to find buyers with more cash.

[melissap]

Here in Nashville Tn the prices are insane! Low inventory and too many bidders ! You can't find a decent house under 500, 000! 2 years ago you could buy a nice house up to 3000 square feet for 300, 00 +. Now with everyone moving here in past 2 years our population has doubled and they keep building! Im on the fence to deciding to buy or wait?! I believe a crash is coming in 2021. The realtors telling you NOW is the time to buy with low interest rates! You are so right ! Thankyou for your advice!

[stevena]

Searching for homes every few hours I noticed the amount of new listing popping up too, the quality improved too. The houses in my price range went from homes that haven't been renovated in 50 years, to houses that looked like they were built yesterday.

[JoshuaTrenge]

Looks to me like a few months of low inventory combined with ultra low interest rates and fear of coming inflation has bred the mother of all FOMO.... ( fear of missing out).

[InspireMe]

you guys better still have a job when the housing market crashes.

[cesiriuz]

If I had a property to sell I would have sold it as soon as people started putting their homes in mortgage forbearance and they started talking about eviction delays. It's common sense. I don't think prices will stay up as high as they are for long.

[Motivation]

_I really hope that scenario 3 will happen and finally it will turn to buyers market so the buyers can take advantage and have this process easier for them 🤞🏻🤞🏻🤞🏻_

[Elizabeth-lgzb]

Thank you so much Javier. This is really kind of you to share, especially after a long day out in the field. A good friend who has owned a home for 15 years next to Denver University where houses used to sell in a matter of days mentioned that her neighbor has had a totally well renovated house on the market for over a month and it is priced at what sellers had gotten used to getting. She’s not in real estate at all and just happened to mention it. I sure hope you’re right that things will become more affordable for those of us who have been sidelined by the skyrocketing prices. Take good care everyone.