Back when I purchased my first home to live in; that was in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
Every time I see these mansions for cheap my immediate thought is it’s probably haunted or there’s something demonic in there. There’s always a reason for those super low prices. I’m a couple of hours away from the conjuring house so maybe that’s why I feel that way 😅
I bought my house for $90,000, I would not sell it for any amount. It also has a second building which needed minor repairs ($1,500). I did the rest myself. Has a great history and 1/3 acre yard. (Turns out the real estate agent next door wanted it for herself for very cheap and was giving excuses to the potential buyers. The owner changed agents and I bought in all of three days. The crook next door gives me dirty looks still.) Every week I get at least one offer to buy.
I’m glad you got it! I’m glad the owner caught on and changed agents! I hope your crooked crook of a neighbor has something come up, and she has to sell up and move very far away from you, and you have a wonderful neighbor move in next door instead, someone you enjoy, someone who is like family, where you may actually spend time together, maybe over a cup of coffee and dinners, and I hope that lasts for many, many years to come. (I, too, have a crook neighbor couple, who buddied up to the old man who lived between us. I was friends with him and his wife who died before him also, and we had a lot of great days together, but I don’t exploit people, even when they hand me the opportunity to do so on a silver, golden, or platinum platter. The neighbors in question moved in somewhere along the line)…and we all knew he had owned his house outright for many years, but had recently taken out a reverse mortgage, which of course means that whoever has power of attorney when that person dies can buy the house for whatever was taken out in payments from the equity, plus the interest. By law, the bank cannot profit from it, unless nobody steps forward to pay the note. And even then, the bank is not in the real estate business, so they try to unload those homes as quickly as possible and they were only looking to recover what was taken out. So if he had only taken out $20,000, or $40,000, that’s all they would’ve had to pay for the house. Banks don’t usually offer an opportunity to owe more than the house value, there was a time that they sometimes did offer a contract where you could actually get “upside down” in the house, and draw payments even if you outlived the equity, (probably because they don’t expect many people to actually live that long, because if they take the lump sum, they’re not getting any more payments, and if they’re taking payments, there’s only so much they can take out every month), and whether they did then or do now at some places doesn’t matter, I know he didn’t have that kind of set up and certainly didn’t need it, but the point is, they only give you a percentage of the equity in the first place. He didn’t have it that many years, he didn’t have time to rack up a bunch of debt, but the house did jump in value because our neighborhood started to get gentrified, for example my neighbor on the other side got dragged out of her house despite everything I tried to do to keep her in it, she was over 100 years old, perfectly healthy and happy there, I tried everything I could to stop them… and it was through fraud, forged documents and a terror campaign run by her daughter against her (seriously, if your family member is happy where they are, you have to be some kind of evil to interfere with that), that her house got sold off, and it has changed hands a couple times since, but the people who have it now offered $100,000 over the asking price to make sure they got it. There was a bidding war for that house and it’s just a bungalow. And of course they flipped it and wrecked it. It had an original real fireplace and by real I mean it actually burns wood, not like kids today that think a real fireplace is a gas or electric one. All the original details got ripped out and wrecked. Even the lawyer that came to try to help her told me if she ever wanted to sell it he would be interested in it because it still had the original wallpaper. She changed it once since 1948 when the house is built. Of course they tore it up and put in lousy, modern materials, took the charm right out of it… So of course this neighbor couple hung around my neighbor like vultures when he was dying, sucked up to him, I will give them credit that they went to visit him and handled some things for him, I had my own disabilities to contend with, and certainly I appreciate the things they helped him with… But they had their eyes on the long-term prize. Even though he had 2 sons, (and I admit they were… Creepy guys, but he also had a very healthy, agreeable, friendly brother, and while he lived a distance away, he certainly would’ve been able to do anything that needed doing along the way), they got power of attorney over him when he got sick, and within a couple of hours of the coroner van leaving when he died, they were already getting his house, I heard them in there just bashing it apart, he hasn’t even gone cold yet, and they were just ripping through his stuff, like they just could not wait to get their hands on it. And like your situation, they’ve had their eyes on my property. They’ve got it in their head that it would be great to own the whole block, so they have tried to run little interference campaigns and create trouble. That’s what greed will do. They have even approached me to ask me to landscape in particular ways that would be more appealing to their view from where they sit on their patio 2 doors down, that’s the level of audacity that they have had. Like you, I also get offers on my house, of course the seemingly automatic postcards come every day, and texts (I don’t give out my real number to many, so we do get our privacy sold quite regularly). Sometimes I get offers for houses I don’t even own, just somewhere I lived in the past. I feel like telling them to leave $1 million on the street corner in cash, in a duffel bag, and they can have these other houses. I always say that for my house… I might consider a sale at $7 trillion with a 2-years to move out clause, (I used to say $3 trillion, but the impertinence of people has raised it to $7 trillion), but even then… I’m not so sure I’d take it. So, I hope that you have neighbors that are as great to have next door and I had when it was just the man and his wife before the greedy vultures moved in, (and crammed 7 students into it as a rental, with cars filling the curb), because my next door neighbors were retired, and we had many years of wonderful holiday celebrations, dinners, and nights after work together over a glass of wine, watching the birds gather at sunset, or watch the rainstorms... And they had lots of roses, and we would say that we were living in the days of wine and roses, because we were, and we knew it, and we savored it. And I hope that your nasty neighbor gets called away for good, and instead, YOU get the days of wine and roses next door for many years to come. Sounds like you deserve that.
@@misskim2058 Actually I hope she stays. Her husband saw the evil of his way after a big attak against me in front of an entire group of city worker, after one of my trees fell during a storm. In the opposite direction from his house. He was telling me that it could have fallen on his house? What? lol This was at 5 in the morning. Once he started yelling the workers surrounded me (to protect me from the nutcase). All of a sudden he went inside. Now he has be plowing my driveway after the storms we been having, I guess to appologize or because he is afraid of my defenders. I'm 75 and he is 77. I just find it funny. His wife still hates me. Uh, how terrible. LOL They are not the only one I've had problems with. The guy across the street inharited the house from his really nice parents. Right away he started threatening me. (I knew he was a school bully when he was a kid, from him mother, she called him her little terror.) I went to his property fence and told him, I'm not afraid of bullies, I broke the nose of one when I was 8 years old. He gave me a dirty look and then left me alone. I'm 5 feet tall and old but I know how to treat people like them. I'm not afraid of idiots. I do have a neighbor that is a friend of mine. His teen age son told me once that he considers me family. I love my house, it is 100 years old and still has some of the same features, plus there is a scond building that is a very pretty cottage, not that I had it repaired and painted. I'm a tough old woman and a retired attorney. I don't allow nonsense.
@@misskim2058 Good for you and the seller. I have been looking for three years ! Every time I find a good deal something happens. Surprise ! I refer one they didn’t want to wright to offer said they would never take it . Two weeks later sold for less to her friends children , Still burns . Don’t know if I’ll ver find a home . Want to push the most expensive and cheap looking
Can’t IMAGINE trying to heat any of these! Also, lead paint, asbestos, knob and tube wiring, and are they even insulated? They are gorgeous though. Was looking at some old historic places with a friend in Springfield Illinois. There were some awesome old victorians and other mansions. Love the big attics too. But every corner I turned, all I heard was the sound of the cash register!
@@mirib5007 Lead-based paint and lead-contaminated dust are some of the most widespread and hazardous sources of lead exposure for young children in the United States. Approximately 29 million housing units have lead-based paint hazards including deteriorated paint and lead-contaminated house dust. Exposure to even low levels of lead can cause damage over time, especially in children. The greatest risk is to brain development, where irreversible damage can occur. Higher levels can damage the kidneys and nervous system in both children and adults. Lead-Based Paint Disclosure If you plan to sell your home, it's legally required that you disclose your knowledge of the existence of lead paint. Lead paint sales and applications were banned in the United States in 1978. So yes, it’s a thing. There is no known level of exposure that is safe. Lead exposure can lead to developmental issues, brain and nervous system damage, and learning problems Lead paint in a home that is disturbed during a home renovation or DIY project can lead to exposure of toxins in dust particles. (And imagine the “renovations” in these homes).
Yeah the lead and asbestos is gonna be the biggest issue. But ventilation and insulation was really good in old houses. Brick and rock are great. But some have asbestos as the insulation...
Historic buildings as a general rule are very energy inefficient. They usually lack insulation and are full of gaps, Remember, these houses were built before the widespread use of and in many cases, before the invention of electricity, running water, modern heating and modern cooling. Is it possible to make a historic building energy efficient? Sure, but it's extremely expensive and takes away some of that old fashioned charm! When it's all said and done, you'd likely be better off constructing or buying a mock Victorian, mock colonial, a modern baroque palace style home, a mock castle, etc if you would like that old style.
It does take a lot to rehab these old homes to lots of people its a labor of love. Im an hvac guy and would love to buy a big old "money pit" and live in it while im fixing it up. Love the historical style homes!
Its usually not worth it too because once you put that much money into them, nobody wants to move in due to the surrounding area or dark history of the house.
These are fabulous! Hi, from Kansas City, Missouri. I turned 63 today and spend all my spare time on my treadmill. I will have to work til I’m 70 due to an ex who’d never let me live in one of the old gorgeous homes “cuz they’re too expensive. All of them don’t work because they’re on Medicaid/Care. I love to work and appreciate what you’re doing!
I am def a historic home person. The woodwork, unique style and classy elegance all make them desirable. What makes them undesirable is the unseen structural work that likely needs immediate attention and the states/location of the property. The prices and length of time on the market should tell you everything you need to know.
The main issue with such homes is that they were built in an era when labor was cheap. To do proper renovations is, of course, possible but the amount of labor and the high level skill of such craftsmen does not come cheaply. They are beautiful and I hope someone has the juice to bring back their glory.
Used to live in an old Victorian house with a servants stairway, wraparound porch, parlor doors that slid in the wall and huge windows. My kids would roller skate up and down the porch. Great memories. The new owners have let it fall to pieces 😢.
@@misskim2058 my boys are grown up now and live in another part of the state but drive out of their way to go past that house. They are sad about it too, but many memories 😊. Maybe one of them will get a house like that one day. By the way there is 6 of them so, maybe.
I am new to the stock market. Every stock that I bought so far, I was out of luck because I bought them when they were expensive. I feel I missed out on all the stock opportunities so far for the tech stocks. I believe having 75K yearly income would be a good investment so I want to plug all my savings into the stock market. I know this sounds a bit dull but I would like to know if I should learn investing or let somebody else (more capable like a FA) do it for me? Please share your thoughts. I am kind of tired of searching for a good stock to buy and losing all the good opportunities
Even with the right technique and assets some investors would still make more than others, as an investor, you should've known that by now, nothing beats experience and that's final, personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I'm buying again
The broker I'm in touch with is *ASHLEY AIRAGAHI . I came across her in a Bloomberg interview and got in touch with her. You can use something else. For me, her strategy works hence my result. She provides entry and exit point for the securities I focus on
Same here, i will praise Mrs Ashley over and over again because she has great skills, i started with $2,400 and after 2week i received a returns of $9,150 then i continue with her ever since she has been delivering.
That first mansion is awesome. No need to change nothing. The rest are very nice too and don't need that much work aesthetically. Some things just need a refreshment not a replacement.
Any contract for sale must have a paranormal clause. If paranormal activity is found within the first year, the contract is annulled, and you get your money back.
I am homeless and I would love to live in some of these homes. I would rent the rooms out at a reasonable price to the working poor to keep up/ maintain the property.
I sold a couple properties in 2020 and I'm waiting for a house crash to happen so I buy cheap. In the meanwhile, I've been looking at stocks as an alt., any idea if it's a good time to buy? I hear people say it's a madhouse and a dead cat bounce right now but on the other hand, I still see and read articles of people pulling over $225k by the weeks in trades, how come?
I'm sure the idea of a coach might sound controversial, but new study by investopedia found that demand for portfolio-coaches sky-rocketed by over 41.8% since the pandemic, and based on firsthand encounter I can say for certain that it's a good idea, I've raised over 400k from an initially stagnant reserve of 150K, all within 14months
I trade with Mr Abbreu John, a regulated broker. Met him sometime last year at a startup funding event. He had some interesting things to say about the crypto market and his predictions are ALWAYS CORRECT, obviously I'm seeing the results
Many of the cities that went through death throws in the 60's and 70's have sections where they are streets of mansions that can be bought for nearly nothing. One that comes to mind is Newark, NJ - which has a whole area with nothing by old school mansions - dirt cheap, problem is you would need a really good security detail to make it a week there.
@@richardkline1832 the video never mentions the city at all. Also as someone posted previously, some of these are lies, so es these properties have not been on the market in ages.
Old proverb: houses everybody could buy but very few could maintain. It’s seen some fantastic locations, spectacular buildings, incredible architectures in so many countries, and every time astonished on how “cheap” (even if not for my pockets) they could be. Then I ask about taxes, renovations and maintenance costs and Ive eventually started to understand.
Love this video. When I checked these homes online, they've been sold. I am looking for a house to buy, where are you finding these? I'd love to get one
My home is no mansion, but I have both enjoyed and been frustrated by my old 1950s home. If I had time and money I would love to pick up an old home like this, but the purchase price isn't the expensive part. It is a lot of work and maintenance, and if it is deemed "historic" then your fixing options and vendors become extremely limited. I want an old Victorian or Gothic house to look like the best of its time... But with all the modern amenities of heated floors and home automation hidden out of view. Seal up the drafty old house, put some isolation in the walls, update all the electric and plumbing, throw in a modern geothermal heat pump and some appropriate fireplace inserts, and have a nice cozy quiet modern home with that grand old style! But if it is deemed a historic home... Good luck getting any of that approved lol. These things are often dirt cheap exactly because you can't do that to them.
I’d really like it if you could say the whole place where they are located. It sounds like your just saying a town or district. City and state please!!!!!!
Boldt castle which was the first house shown in the intro was sold to the state with the promise that the house would never be privately owned and never finished or changed other than upkeep and repairs
So it seems. Another commenter said the same thing. I was curious about it too since when have you ever shopped for a home like this that had furniture like this inside?? And if it is furnished, the cost of the furniture is not included in the sale price unless otherwise specified, and instead requires additional negotiation.
Secondly MANY of the areas where these houses are no longer have the local businesses that will support living in them in those areas you'd have to be a selfmade millionaire getting revenue from elsewhere turnkey or similarity to it!
@@danieldaniels7571 Done and Doing just that most my life and raising children back when now puppies yet it's the Black Rock and cohorts that lean in and find a way to take it. Good suggestion tho these days it's almost the only way to go. Even then there's that worm always knocking on your door. You know the kind* disturbing the Peace and worse. ALL good with the Lord 💘 TOGETHER WITH HIM WE OWN IT ALL. KING'S KIDS. BEST NO PURCHASE NECESSARY. IT'S OUR FATHER'S GIFT 🎁 BROTHER TO BROTHER LOL
I’d like to own a mansion just like the Addams Family Mansion, and by that I mean exactly like their mansion. **pulls “Greed” book from the shelf to open secret door**
Tell me about it! I was on that struggle bus until I stumbled upon this gem of a guy, James Williard. He worked his magic and got me into a sweet 4-bedroom duplex in California, no loans required thanks to the agency he works with...they're called compass
Tell me about it! I was on that struggle bus until I stumbled upon this gem of a guy, James. He worked his magic and got me into a sweet 4-bedroom duplex in California, no loans required and i didnt have to stress myself financially
@@laken1804 basically. These are definitely not mansions. I would consider 6,000 SQ FT a mansion though. At least if it has multiple floors and whatnot.
I'm new to stock market /Crypto and would like to invest but I've go no idea on how to make good profits. Pls what's the best approach you'd recommend?
My first investment with Mrs Claudia Walter's, gave me a profit of 87k dollars and ever since then she has never failed to deliver and I still stand by saying she is the most sincere broker I have know
hi Kyle sorry just now getting to watch the video love to hear about the history of the place and a nice video hope you guys be safe out there 🙏🙏🙏 hope to see more videos ❤️ you guys
Being from NJ and no having any idea where Bridgeton is located. I looked it up. Yeah there is a reason why is it’s cheap. It’s in extreme south jersey where no jobs exist and it’s situated in a town in the middle of pine barrens. Also the taxes jumped in just 2 years. From 7.5k in 2018 and 2019 to over 11k in 2021. In short order you will be paying 1k a month in rent to the state.
After selling a couple homes in 2020, I'm anticipating a housing crisis in order to buy inexpensively. As a backup plan, I've been thinking about purchasing stocks. What recommendations do you have for the best time to buy? On the one hand, I keep reading and seeing trader earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?
One of the primary reasons I utilise a portfolio coach to oversee my daily investing decisions is that their whole skill set is cantered on trading long and short at the same time, utilising profit-oriented techniques and minimising risk as a hedge against unforeseen events.
@@marcelrobert9569 Due to the significant falls, I need advice on how to rebuild my portfolio and develop more successful tactics. Where can I find this teacher?
@@charlotteflair1043 Yeah, I have total faith in a financial advisor who is certified by the US SEC. In fact, I'm not sure whether I'm allowed to disclose this, but I'd suggest checking up "Julie Anne Hoover" because she was a huge issue in 2020. She is my mentor in addition to managing my investments.
@@marcelrobert9569 Yeah, I have total faith in a financial advisor who is certified by the US SEC. In fact, I'm not sure whether I'm allowed to disclose this, but I'd suggest checking up "Julie Anne Hoover" because she was a huge issue in 2020. She is my mentor in addition to managing my investments.
I enjoy watching the videos on this channel. I have to also say that I get a giggle whenever the narrator pronounces a word incorrectly, which happens every couple of minutes.
Your thumbnail is misleading. The Italian Renaissance mansion shown is located on historic Swiss Avenue in Dallas, TX, and goes for about $2.4 million.
