Comments by "Josef" (@josefj1776) on "Real Estate Mindset" channel.

  1. I have one card and our fico was 813. So no you are wrong.
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  2. Just before the “2014 crash” I bought my new home for 151K and got a refrigerator and a fence with $10,000 to closing costs.
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  3. Why? Taxes are extremely low!
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  4. This is normally the slow season and we get the most price reduction this time of year. In a normal market it should take 3 months to sell a home.
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  5. This is one of the reasons I bought my house with no crazy cost increases.
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  6. Owning a home is extremely important if someone wants to retire. I learned from my grandfather with this as he only had a pension of $500 and SS to live off of. He traveled across the country multiple times and to Alaska multiple times. This is because he had a tax payment of $450 a year( he called this extremely high and criminal). I plan to have a much higher retirement income from my investments but a paid off home is cheaper to live in than any rental.
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  7. I enjoyed buying our house last month with a mortgage of 4.65%
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  8. Back in 1980’s many people felt they could never own a home. Home prices continued to increase. We are still seeing this today with the rate increases. The average time a home is on the market is 17 days. Price cuts don’t say home values are going down it means people are putting their homes to a more of a true price of that home. There is a massive demand still for homes or the average time would be a lot longer. Household savings have always been very poor 60% of households dont have $1,000 for emergencies and 40% dont have $400 it has been this way for 30 years. The average FICO is 750 for home buyers. I was at 810 when we bought in 2014 it as taken that long to get the scores back up to 810 as buying a home caused FICO to crash. Over all things are pretty good hell unemployment is at record lows Your data doesn’t show the homes are selling under valued.
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  9. Best of luck I know my mother regrets selling her house when she had a mortgage payment of $500 a month. I wouldn't sell my home when I would rent for a lot more than my mortgage. My mortgage is $900 a month with property taxes and insurance. I wouldn't want to rent for $1800 a month.
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  10. Still waiting for this “crash”.
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  11. Foreclosures in Florida are extremely low how are we having a wave? There is next to no foreclosures.
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  12. People are freaking out that it is taking longer than 17 days to sell. Over all the market looks to be returning to normal with a flat market in some areas value may go down 5-10% demand remains high for the number of homes for sale. It is so funny how many think there will be a crash like 2008. LOL some people don’t live in reality.
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  13. Foreclosures are at 33,000 this year an increase of 180% over last year. This is at a record low. A foreclosure takes 900 days to complete……LOL they are not an issue.
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  14. The issue is inventory is extremely low homes are still selling very very fast in less than 19 days on average and 88% sell in 30 days. Rates are very low. Foreclosures are extremely low,
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  15. Is it? Have any evidence?
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  16. it is sad that people always bring up the labor participation rate when that number includes everyone from the age of 16 to death. That means if your 85-year-old grandma is not working she is out of the labor force and if your grandpa is working he is part of the labor force.
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  17. You told us last year would be worse than 2008 with foreclosures. Where are they? We are not even close to 2019 levels that you said was the greatest economy
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  18. Cool. Has no effect on me my mortgage is 3.75%.
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  19. “Indeed, “it’s important to note that many of the foreclosure starts we’re seeing today — in fact, much of the overall foreclosure activity we’re seeing right now is on loans that were either already in foreclosure or were more than 120 days delinquent prior to the pandemic,” says Sharga. “ From your own source. This “increase” is not an issue remember it takes 900 days to foreclosure on a home before this pandemic.
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  20. Incorrect a home is one of the best retirement investments of all time.
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  21.  @dsdddsd4543we  that was the start of the suburbs not the housing industry. The interesting thing is Minorities were banned from FHA loans and VA loans for many years in fact the government forced neighborhood to ban selling homes to non whites to get an FHA loan. The 1929 crash was the first crash in home prices.
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  22. LOL
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  23. There is a difference with a crash and a correction. Demand is healthy compared to inventory. You see houses are on the market for 17 days. People panic because it takes more than 15 days to sell a house. This is not a crashing market a reduction in price is not a reduction in value. People getting loans today have to have a lot more qualifications then before 2008 he’ll the average FICO score right now is about 740. The economy even is not as reliant on housing like 2007
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  24. So it isn’t 18 million buyers it is 18 million households. That is a big difference. There is still a high demand for buying a house as the average time for a house on the market is 17 days. Recession and does not mean home prices go down nor does rate increases.
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  25. Most experts have said we should have a 5-10% correction some have said 15% so far as a whole prices have not dropped.
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  26. Save there is a demand as a house takes only an average of 17 days to sell.
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  27.  @realestatemindset  in general we save more than other generation and there is more of us in the workforce.
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  28. Enjoy. The most important thing is to be happy with your choice. They were talking about a housing crash back in 2014 when I bought.
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  29. I bought our home because my wife was 6 years from retirement in the army and we liked the area. We had to stay in for 9 and not 6. It is a three bedroom house and there is no reason to move to a bigger home because the kids will be out in a few years. Owning a home is one of the best retirement investments you can have. If you lose a job get a new one no need to move. This is what people did in the good old days.
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  30. And yet homes are still selling fast. This tells me inventory is still low.
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  31.  @Encephalitisify  taxes are extremely low.
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  32. Sadly the inventory is at record lows still. They need to increase by well over 100% to be normal. Right now it takes an average of 17 days for a home to sell. And so far home value increase is still going up just slower.
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  33. I remember people calling for retiring boomers causing a housing crash in 2014. It didn’t happen. There have been more predictions of crashes than actual crashes.
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  34. Why would losing equity be tougher?
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  35. With a inventory of 2 months and most homes selling in a month we are not seeing much of a crash in home value. In fact over all it is exactly inline with what the experts have said it would be.
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  36. With unemployment at 3.5% 187K new jobs is very good. Remember we have 6-7 million people hired each month! With the number out of the labor force, we Knew that number would increase for many years! These are mostly are people that are Studnents, stay at home mom’s, elderly that have retired. Of this group only 5 million want to work but will not look for work 1 hour out of 4 weeks.
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  37. I for one am happy I bought and didn’t wait for that massive crash in 2014….. no one knows the future.
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  38. 10% change is next to nothing.
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  39. And the average home takes 19 days to sell!!
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  40.  @realestatemindset  not all recessions cause a housing price crash. We are not seeing the massive rise in foreclosures. They are at record lows.
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  41. It isn’t just one data point people are looking at. Supply is very low and homes are still selling fast. Fishing looks like it is going away and that is a good thing. Also there is no reason for them to sell rentals as they are making a good level of cash flow rents are very high. The economy is not as strongly tied to housing like in 2007 and unemployment is extremely low planed layoffs are at record lows! Foreclosures are at record lows! But you can’t say people cutting their “fishing” prices does not mean the values of homes are going down.
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  42. We need to see inventory increase by a lot more. Average time it takes to sell a house needs to increase by a lot more also. We are not seeing this type of crash unemployment is extremely low we are still seeing record low layoffs. We will most likely see at the most 5-10% correction.
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  43. So you want to call a 85-year-old unemployment?
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  44. “The U.S. Bureau of Labor Statistics (BLS) defines the labor force as all people who are 16 years of age or older and are either employed or unemployed and actively looking for work.” Learn
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  45.  @thethinbluelinetv  I see the world how it is not how I am or how I want it to be.
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  46. Most people knew retired people would have issues because their retirement accounts were 200K when going into retirement of the people that actually saved.
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  47. I don’t really know what you’re talking about. Property taxes are extremely low insurance is low.
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  48. I love it. America is a great place to live.
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  49. That many have lived paycheck to paycheck for over 50 years.
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  50. It looks like new home builders are slowing construction
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