Buyers remorse. He is stuck paying $3000 a month for 30 years with no deductions. If he is lucky can rent it for $2000 a month. He will have to pay it down $100,000 to break even.
I work for the power company in simpsonville sc which is Greenville county. About 2 years ago we couldn’t keep up installing power with how fast new developments went up and sold. This has drastically changed since 2023. A lot of the developments have many houses move in ready with nobody buying. And price cuts haven’t helped . I cover a big area so I see the Chang on a large area. Definitely coming down! Thanks for all the videos 🙏
Dude, we have a pretty big multi-Family in Bozeman --- the transformers are out 57 weeks -- they are hanging drywall with no heat and we put the order in almost 2 years ago
Good insight. I mostly just follow the finance industry and the debt instrument structure. Institutional private finance is propping it up, but they will be buying up a lot of new. The main issue is because owning for the elderly is becoming to unstable with insurance and taxes exploding. Renting is a non-commitment option for the elderly. They can have enough savings for the higher rental costs up front, but they can bail pretty quick when the rent goes up. They are retired, so location is flexible. Ten thousand a day of basically leasing America. Sounds and looks like the global finance agenda is on track to a much different future here in the U.S. just a matter of time till the investment big players push the little ones out. Think of it like pharmacies, grocers, and main streets. The independents were and are continuing to be crushed by Wall Street. What does your nation look like when your government only caters to the 1%? Puerto Rico🎯 Almost 50% hovering around poverty. That is what we see taking hold here, every year worse, with no government oversight to what kind of nation institutional private finance is creating. A sad retreat into a purely gilded age.
what a jacka55 , not surprised though. The quality of people in real estate is currently bottom of the barrel. I got yelled at by tricon residential in north phoenix last year
I live in N Phoenix too. My wife and I walk our dog through these developing neighborhoods, but no issues so far. We're not YTers, we just take photos and videos of addresses of supposed "SOLD" units to verify when we get home with the gis website. Never got yelled at, but 90% of the so-called sold units are still owned by the builders.
Travis I've said it before and I'll say it once more. Your onsite walk through is excellent as is your support team. I'm sorry you encountered the negativity in the course of your investigation but surely know you and your team are doing excellent work.
I sold my home in Wilmington in 2022 and built a new home in Charlotte....best decision ive ever made. Wilmington is becoming extremely expensive because of the beach tax. Not to mention the rising crime and gang activities.
Ive had two friends that moved from philly to NC (Raleigh/Ashville) within the last year. They love it so far. How do you feel about NC and/or the Charlotte area?
Yeah, my community was developed in 1994. We have a big southern magnolia in the front yard that has got to be about 80 years old. Once upon a time home builders/developers had some class and retained some of the beautiful old trees. Not anymore, it's basically an upgraded trailer park they're building these days
We are leaving Wilmington as fast as we can. We have lived here for three years to be near our family when my husband worked remote. I grew up in Brunswick county and sadly a lot of the developments going up are poor quality in my opinion. My husband took a new position and can no longer work remote but I'm fine with that. We will move back to central NC area where we lived for 20 years prior to our move. Being a nurse also the healthcare is less to be desired in Wilmington. Due to the growth, people can wait up to 10 months to see a healthcare specialist. The reputation of the local hospital is not highly regarded. Also the insurance companies wanted to raise the home insurance this year in some areas here as high as 99%. The NC insurance Commissioner said no but if NC follows the trends in California and Florida, I think major insurance companies will eventually pull out of NC coastal areas due to high risk. Things to consider when you move to an area. You need to really research it to see if the quality of life is there. I seen so much growth with little thought to the infrastructure here in Wilmington and it is starting to show.
🎉🎉🎉 WOW 😯❗️The things you do to bring us news. 😢 People really need to share love and Pray for each other. Thank you Travis for everything you do. Blessings,Carlos ✝️🙏❤️😊🇺🇸
I lived in Wilmington.. If you arent a college student or retired there is no reason to live there. The coastal carolinas have no jobs. Got to go to Raleigh/Durham for work. It's saturated because you have people from UNC/Duke/ECU/UNCG/UNCW/Coastal Carolina many smaller colleges all going after the same jobs.
No thanks. Wait until the first hurricane blows through and those roofs get ripped off and places get flooded. Wet sheetrock and wet floors. What a mess.
I live right on the line Wilmington & Castle Hayne NC. There are 2 huge new communities being built on the Cape Fear river. One sign says gated community, $600,000. I have lived here 30 years. The Wrightsville Beach Mayfair area has lots of residential and commercial buildings being built too. Relatively new area The Pointe, lots of new stores, restaurants, movie theaters, tons of new apartments and houses. We want have any woods/trees left. Can’t find parking at the beaches. A lot of transients coming here.
We travel 2 hours to go to Atlantic Beach, Carolina Beach... we go to Church, then have an awesome seafood dinner & buy fresh fish in Wilmington... after dealing with the traffic on 421, we get back to the (at present) sanity of central NC. While I'd move to Wilmington if the price was right, I'd take Charleston SC over it in a heartbeat. Thank you both for the great work!
Glad I got out of Myrtle Beach in time. My townhome was in Market Commons, I paid 392,000 and was able to sell for $510,000 in 2022. Northerns are flooding the Myrtle Beach area and were paying cash.
Dude... I waited like 2 week for this video to come out and you didn't even go to Wilmington? Bolivia - calabash is just retirement/remote worker homes... Wilmington, Leland, and Hampstead is what I was hoping you would have covered...
Drive by reporting....even in Wilmington no one has a real job. Everyone is remote. Over half my friends here don't show up to an office. This video is kinda funny. I've never watched one from this guy. But someone shared it I know. No construction workers....while its raining. There's also only so many contractors in the area. They all are spread pretty thin. I'm involved in the construction industry in a way here and a resident of the area for 19 years. I think the video is very misleading and panic, click bait material.
Thank you for your hard work. Seeing what builders put up as available is one thing, but being there is another. This give big short vibes when Steve’s character is walking around the sub divisions and seeing empty homes and rentals.
Stay safe. Thanks Travis. I'm in Florida. West Coast 45 minutes north of Tampa the home prices have skyrocketed since we are on the western coast line. Small town feel in Citrus County. Been here for 23 years and the prices are just nuts. All insurances from homeowners ,car and health care have increased. Duke Energy is no sweet deal either. Garbage haulaway has increased and there is no industry just service jobs. The permits being pulled in the county are numerous. Cant get into see a doctor for two months and everywhere you go lines of people at the store as one register and multiple self check-out lanes which people are not interested in. The area has become consumed with high end buyers wanting to knockdown the current homes and build mini mansions on the lot lines. There are lots of retirement folks no longer interested in staying. Where to go? I placed my home in FSBO at an elevated rate and will move when the pay me to do so. New hotels coming the roads have been updated and we even have electric car hook ups at Wawa. I'm not overly concerned with the influx but I am concerned with what type of community it will become!
And the problem is….how can an area grow and provide enough services, shopping, stores, roads, to support all these new people when the people to work these jobs cannot live within a few miles of development? You are already seeing this in the grocery store lines. They don’t have and can’t get the help they need because a person who makes $15 an hour isn’t going to drive 30 miles to work. And that’s especially in FL, where a person making $15 an hour may not be able to afford the insurance on a car at all. Personally, I have a lot of convenience where I live now. I am seriously considering an RV so I can just roam around until I find what I really want.
The people that are coming have mega money and the new shopping is 5 miles from the Coast and inland had developed in the county as well. Again nothing magical just the same ole crappy stores america accepts. Walmart, Target, Starbucks, Culver's, Panera Bread and a like. Worthless. Cannot find an upscale clothing store like in Tampa or Sarasota. They newbies won't stay as they will be deprived of shopping. Not everyone fishes and golfs.
Im a broker in Wilmington and own a real estate firm. There’s a massive difference in Bolivia, Shallotte and Calabash compared to Leland and Wilmington. Yes, the homes are sitting on the market longer but without a doubt these homes will sell for very close to list price in a normal time frame. Massive amounts of transplants in the area y’all looked too. But if you look at stats in Wilmington proper. They are still insane.
Travis, when you get into South Carolina, please visit Summerville. It’s very close to Charleston. They have TONS of new construction, especially in the 55+ communities. Would like to know what’s going on there. Keep up the good work Travis !
Great footage guys! Even though they are cheaply made, I do appreciate the new saturation of the market and the smaller homes. Not everybody needs to cool or heat a 3000sqft home and pay crazy property taxes. There needs to be a market for starter homes.
No they want 3000 square foot homes with all the trappings for the price of starter homes. You can't have it both ways. If you cannot afford a Camry go get a Ford Focus, but don't expect the same amenities. Builders like DR Horton can afford to sell a more affordable home because of economy of scale so be glad there is a DR Horton and MacDonald of the world so people who need a baseline price can at least have food and shelter. IJS
It’s worse in Charleston…the northerners bought in Charleston first, sold for huge profits to move to the area this guy was filming around. Some moved to Florida first and within a year or two moved to the Charleston area driving the price up even more.
Thank you Travis and Melody! Const Worker Bio's: Painter proficiencies - Alcoholism Carpet Installers - Weed Smokers The Rest... take you pick lol. Many good guys, especially now very few know trades. Victims of the Global Reset Plan.
@@prettybrwneyez7757 True, but not the worst state I ever lived in! (Now, what does that say about the reality of our nation!?) I traveled through Alabama top to (almost) bottom for almost 4 decades, and lived in Mobile for 3 years during Wallace’s last stint, when America was building all the apartment complexes, and jobs were almost impossible to find. It is a poor state, but beautiful. Sad that America puts up with so much poverty, it’s all over, really bad policies that scream corruption of government through institutional finance that is definitely not a friend to our people or democracy.
The thing about the "affordable" houses in the south most of them are outside of major cities now with no jobs. Its good for someone that works remotely but other than that.
People build all of these homes 2 foot apart in a area that is a flood risk area and has been forever but when it happens it's climate change and want free housing somewhere else crazy
You seem to only pick vacation home areas. Try the Washington, DC meto area. Prices are not going down and inventory is not growing. Myrtle Beach, SC and Wilmington, NC are cop outs. These are beach towns that have very volatile housing markets. You don't seem to go to Chicago or Dallas or Washington, DC or Los Angeles where people have careers and high salaries. Instead, you go to vacation towns where people mostly have second homes or are at the mercy of tourism.
It's a public street. You don't have to tell him what you are doing or what you are going to say. Tell him to check out the Constitution, it's in the First Amendment, it's called freedom of speech. OR, if someone gets in my grill and asks 'what are you doing?', I answer "Living the American Dream!" That usually stumps them. Lol.
That’s crazy! I’d offer $60K tops for that tiny 3 bed with siding around it. Actually, I wouldn’t offer that much if I saw illegals get subbed out peeing on the slab and framing like most new builds.
So true,.....the retirees from New York,New Jersey,Philadelphia,Maryland/Northern Virginia/D.C corridor are coming down with mountains of money after cashing in.They dont care at all about getting a job,...or industry.
Way too much clear cutting - this is near me. The area used to be nice and filled with woods and animals and homes that were built with out clear cutting so there was a lot of charm and character and good quality of life. These national developers are ruining the area, they clear cut and don't leave a blade of grass and destroy the character, charm, appeal, sense of community l and quality of life. It really is a disaster. I'm not sure why they are allowed to destroy everything in their path to put up such massive developments.
You've definitely said it! You get what you pay for. Look at the cheap materials those houses are being built with on their exterior walls, particle board! I'd like to see how they will end up after a hurricane passes by. SMH, the construction now is horrible!
They absolutely know what is going on. They have known for a long time. Their business, like all of them, are just a means to an end. There are no other jobs out there for them, they know that. Unless they want to be a long distance semi truck driver. The pickings are getting slim.
Have to say the walkthroughs is great eye opener. Thank you Travis and Team. Asking if its a public road to staff is useless. Since its private property of the developer until the transferring of the roads over to DOT or HOA DOT must actually accept the transfer usually after development is completed.
Those homes look similar to the national builder homes in central IN. I wonder if they are focusing on retirees because when I see 2 stories, I don't think retirees. I think retirees would be drawn mor to ranch homes. But maybe multigen homes with the primary downstairs. Thanks to both of you for all the hard work! It is sad that people have to be so rude especially in what is supposed to be a customer service business of selling homes.
These type of homes/subdivisions are not even about price. Super depressing, no single tree/bush, no lights on street, architecture not basic but outdated and miserable. Wouldn’t spend a penny on those ones.
We got invaded by people from CA and yankees and NJ. It's hard to find someone who is actually from NC anymore. Everyone is from somewhere else and they are rude and obnoxious.
as a local currently renting in this area house hunting South Port and Oak Island, the problem I see with these homes is: too many folks with motorcycles or cheap cars/trucks that love loud mufflers. The homes are so thin that you hear the vehicles starting around 6am as well as your neighbors stereo.
im in the midwest. i have contacted realtors to put bids in on houses and they flat out won't. I have to do it all myself, which is fine. i am looking at 400k houses and i offer 20% below the list price with 200k down and financing that can be closed in 15 days. when i tell a buyers agent to write this offer up, they are all weak cowards and scared to write up lowball offers because they may offend someone. which is hilarious. because fiduciary responsibility requires that a buyers agent only look after the best interest of the client, instead, they ONLY CARE ABOUT thier commison checks. I have money to burn. i may join the lawsuit against all realtors and the NAR. realtors are non value added.
Not all of us. I carry both licenses but to put a blanket over all the industry is never good. With that said your right about 95% of these Realtors. Investors like yourself are difficult to work with most of the time. But that is not all investors. It's a different mindset, than the average consumer. Because of my experience in both Mortgage and Real Estate, I carry an investor mindset with all my clients. I look at the money, not the fluff. If I feel that I have supporting evidence that the price is wrong or the money is wrong, I tell my clients. On the other hand, I don't have the fluffy language that sometimes is needed. It's the money and budget first, then the home. If it all fits, i feel good about what I am doing. It gets wild sometimes with the offers from an investor and it's no place for chickens. The way it is approached is everything. I take an investors demand and short language and formulate a way to present it to get the results we are looking for.
@@thebucketlisttripoutwest8487 I’m not a real estate investor. I have bought and sold about 15 properties. But I’m just looking for the next place to live. My last properties I paid cash for. I 100% percent believe that a realtor who is a buyers agent should be paid out of pocket by the buyer. And the realtor sellers agent should be paid 100% out of pocket by the seller. Those two Transactions should never ever be on the same ticket. It’s a massive conflict of interest.
Build to Rent! The future......... Wan Bridge is all over this in Texas. Homeboy could have plaif his cards sonmuch better and got some good PR for the development. Kiss that goodbye 😆 . Another excellent videio 👍
As a retiree.. there is no way I want to live in that area... its just another housing complex.. I would rather go sdmewhere close to a beach or forest or lake .. that has good walking trails, local restaurants, things to do.. or watch..
Retirees are a very real market, but there's a couple of issues: 1st, the boomers have been retiring for nearly a decade already and many of them are passing on, vacating a retirement property. 2nd, they don't buy 2 story homes, nor do they purchase large single level homes. They buy small single level homes, 2BR/2BA, 1000-1250 sq/ft, (certainly there are exceptions).
I live in Wilmington, NC and you didn't go into one subdivision in Wilmington. You can't consider Bolivia and definitely not calabash which is over an hour away bolivia would be 30min+. You can't use demographics from Wilmington to apply to these communities. Calabash is closer to north Myrtle Beach.
I was in that area looking for a retirement home-one floor 1200-1500 sq ft. Well, the new homes we toured are not built very well. My husband doesn’t like that they poor the concrete slab without any wire mesh. The homes already have cracks in the concrete. So I’m not sure what we will do. We only want to spend 350 the highest. Under 300 would be best! But it doesn’t look good there.
I literally had to look up what Eritreans were... ugh. I had no clue. Wow, that was a load to read, lol. Good grief, they have been busy fighting with other groups (I guess?). Interesting.
The average builder makes 11-12 percent pretax profit. There is a lot that goes into building a homes and most people could not stomach the financial risk associated with it. You guys are walking these neighborhoods and complaining about how certain houses look and their size related to the price point and it seems you are just out there trying to stir things up with no real reporting about anything wrong the builder is actually doing. Are they building shoddy construction, not following city building code, lying about the features they have not actually put in the homes, stealing deposits? What are you actually reporting,? that some builders have to build in locations that allow them to build a more affordable product, that they have to scale down square footages and architectural details in order to sell them to families that otherwise would not be able to afford them?. You are attempting to paint a picture that all homebuilders are unscrupulous business people out to screw people and selling them overpriced homes. The market usually determines the value and unless there is some bubble in the marketplace, homebuilders normally make a modest profit, sometimes no profit, and other times lose money from a extremely risky and stressful business endeavor.
D.R Horton builders is all over the web with the crap homes they build and are being sued over it... so I would do your research before you purchase a home build by that builder...
Wilmington is a retirement community, also easy access for people from Raleigh or Fayetteville for second homes by the beach. Your retirement pool is not just people that don’t want to retire to Florida. NC has a lot of military bases especially in eastern NC, so you can retire and still have easy access to the military bases with your healthcare access and the commissary and exchange. We live north of Wilmington. All of eastern NC is a great place to retire. We also in this area have easy access to the Raleigh area for some of the best healthcare in the country. I had surgery at Duke a few years ago and had one of the top surgeons and researcher for my condition.
Thanks for coming to Wilmington. I have conversed with you before. I see you did get your Part 107 license. I feel like I am a lone wolf here. I carry a real estate license and a mortgage license. I live in Wilmington. The realtors just do not like me because I speak the truth. You missed a subdivision or two that could be a little help. One is on Sidbury road with 1400 homes. Every realtor here says that there are bidding wars. There are not. They don't listen when I tell them the situation we are in. Your partner has added a lot. I wanted to thank you for doing this video. Please give me a shout if you come back.
