Comments by "Jeffrey Deuitch" (@jeffreydeuitch2146) on "Homes SLASHED $100,000 Rates Killing the Market" video.

  1. What is really interesting is how quickly the price cuts are coming. Over past year or 2 people have gotten use to rapid contracting. Historically 60 to 90 days was typical and sometimes longer with modest cuts or accepting a slightly lower offer. Now, people get antsy when properties do not get contracted within a month. Kind of a conditioned seller FOMO. This will work out better for those holding out to purchase. During the gfc, I remember seeing DOMs routinely 6 to 8 months with numerous price cuts. Holding costs are levering sellers to greater extent than in the old days. Interesting how things shift. Of course fear of higher rates may be catalyst.
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  2. Sorry about a 2nd comment, but this is a very unscientific observation about the mood for RE in the public psyche. This regards the TV shows you see on Discover Networks, HGTV etc. When you see foreclosure or distressed related content, you will know we have arrive prediction is that these shows where you see a young couple putting 200k+ into an old house to remodel etc will disappear. Was one several years ago in AZ think where people bid on site for foreclosure without going inside and what they discovered once they got access and anticipated costs and potential resale. That one disappeared once we got back to bull market. TV never truly about full reality, but does tap into the public vibe. Will be interesting to see how this evolves. Regards.
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