In this episode of Money Talks News, the podcast dives into the challenging housing market as Stacy Johnson and Miranda Marquit discuss strategies for buying a home despite high rates and low inventory. They are joined by real estate expert Mindy Jensen from BiggerPockets. Mindy shares insights on preparing finances, creative financing options, and the pitfalls to avoid in such a tight market. The conversation extends to the recent legal changes affecting real estate agent commissions, offering listeners a thorough understanding of the current landscape. Whether you're an eager buyer or a cautious renter, this episode provides valuable advice and perspectives.
00:00 Welcome to Money Talks News: Navigating the Housing Market
00:33 Expert Insights with Mindy Jensen on Real Estate
01:32 The Art of Live-In Flips and Tax Benefits
03:16 Navigating a Tough Market: Strategies and Stories
09:44 Financial Strategies for Buying in a High-Rate Market
10:57 Understanding Mortgage Payments and Home Affordability
14:50 The Rent vs. Buy Debate in Today's Market
18:02 Exploring Alternative Financing and Investment Strategies
19:56 The Risks and Rewards of Margin Loans for Real Estate
23:12 Making Decisions in a Challenging Real Estate Market
24:20 Navigating Real Estate Pricing and Mortgage Payments
26:11 The Art of Negotiation and Seller Financing
32:52 Exploring Mortgage Assumptions and Creative Financing
42:36 Adjustable Rate Mortgages: A Risky Solution?
45:17 The Future of Real Estate Commissions and Buyer's Agents
Existing home sales surged 9.5% in February 2024 (cdn.nar.realtor/sites/default...) , the largest increase in a year. Even with the rate of home sales slowing down a bit, they remain relatively strong. With home sales still fairly strong, we're not likely to see prices come down anytime soon. Combine that with relatively high mortgage rates, and it's definitely NOT a buyers market.
But what if you're ready to buy a home anyway? What can you do to best position your finances to get ready to buy a home, no matter what's going on with the market? In this episode we welcome back a friend of the show Mindy Jensen from BiggerPockets (www.biggerpockets.com/) to help us sort out how to get the best bang for your homebuying buck.
Remember, even though we sometimes talk about money and specific investments on this show, don't take them as recommendations. Before investing in anything or making any money moves, do your own research and make your own decisions.
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• Listen on Spotify (open.spotify.com/show/4XzsoL5...)
Don't forget to check out our podcast page (www.moneytalksnews.com/podcasts/) for more episodes designed to help you make the most of your money.
Why is the housing market so tough for buyers right now?
We start by taking a look at why the housing market is so tough right now-and why prices remain stubbornly high (www.moneytalksnews.com/slides...) . Some of the reasons that home prices haven't come down as much as we'd like:
• There remains a housing shortage of at least 1.5 million homes (www.whitehouse.gov/wp-content...) .
• It can be difficult to buy a home on a current income since home prices have far outpaced wage growth in recent years.
• Coming up with a down payment can feel challenging in the current climate.
On top of that, there are concerns about how the recent settlement with the National Association of Realtors (www.cnn.com/2024/03/15/econom...) could impact buyer representation and costs for buyers.
However, some of these pressures might finally help bring home prices down, at least in some markets. Depending on where you hope to buy, you might be able to find lower home prices (www.moneytalksnews.com/slides...) as you move forward with your homebuying journey.
Tips for preparing your finances for buying a home in any market
Our episode includes helpful information on buying a home, pointing out that it depends on your goals. Trying to time the housing market, especially when you're looking for your primary residence, might not make much sense in the long run.
We reference a past episode featuring Mindy, which offers tips on getting the best homebuying deal (www.moneytalksnews....
14 июл 2024
