Sell My House NOW In Case The Value Goes Down?

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5 июн 2022

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Комментарии : 256

@stewbugz5213 2 года назад

I'd say stay in your home. I know people who sold their home for a crazy amount and can't find a nice home to buy now! They basically traded in their remodeled home, to only find overpriced and outdated homes in their price range!

@kbanghart 2 года назад

Yeah and it depends on what you mean by a nice home

@capt.swarvaski1545 Год назад

That’s what happened to me. Sold my beautiful home @ a high price- figured I’d wait it off and buy when it all comes down, but I’m hugely regretting it now. 😭😭😭

@MP57719 2 года назад

The supply of houses may stay low, but as inflation rages, the supply of buyers decreases.

@JustinCase780 2 года назад

Let's listen to this again in a year.

@bettysmith4527 2 года назад

Yup, the interest rates have climbed and prices are already taking a dump (2007).... I already see plenty of listings where it's obvious the people or person who bought it bit off ore than they could chew, and they are selling a year or so after their purchase, and prices going down means they soon won't be able to even break even getting out, and we all know what's coming next (2008)!

@kbanghart 2 года назад

@@bettysmith4527 please, show me where prices are taking a dump.

@ALANAYARSA 2 года назад

I just added to my calendar... hahaha... we will see in 2023

@JustinCase780 2 года назад

@@kbanghart Not sure about "prices" doing so but a lot of dogs in my neighborhood are experts at it.

@JustinCase780 2 года назад

@@ALANAYARSA That will be interesting to compare! 👍

@bobbyb7672 2 года назад

Prices are already dropping.

@monster-pq7ln 2 года назад

No they aren't.

@Tinkerbella45 Год назад

Not in St louis MO county 😮

@havnt3782 2 года назад

Sell it now at over expected value you are more free to move immediately and don't have to wait for it to sell later

@kbanghart 2 года назад

But move where?

@ThePyleDriver 2 года назад

Yes sell sell sell! We need to start the panic crash so my family can afford to buy 😜

@matthewtheexposure5841 2 года назад

😂😂😂😂😂😂😂😂😂

@Azel247 2 года назад

Prices go down but interest rates go up, I still can't afford it!

@Howdy762 2 года назад

lol

@Andrew-ro6cr 2 года назад

No. Should have got in years ago

@TheMechanicj 2 года назад

The interest rates jsut made it stupid yo buy a house

@ajossi 2 года назад

If I sell it doesn't change the fact that I still need a house. I'm gonna stay put and pay off my house.

@jimroscovius 2 года назад

Good plan!!

@jimroscovius 2 года назад

@@MOGM777 There will always be houses. Why buy if you don't need to and can't afford it??

@Frankitosway 2 года назад

@@MOGM777 problem is you cant expect to BUY LOW nowadays. We need to move but selling the house now, we obv need to buy another one to move in.

@Fedgery007 2 года назад

Glad Dave has a crystal ball. This depends on where she lives. You can’t just generalize. Real estate is local so it depends on where she lives.

@DonesdeMotivacion 2 года назад

She lives in Orlando FL. You don’t sell in Orlando FL, lot of immigration and snow birds there

@anthonywebster8638 2 года назад

Prices may only be declining in Commiefornia and Taxachusetts as people continue to leave them.

@OTOWN2STOCKTOWN 2 года назад

Thx!

@richthepup 2 года назад

I doubt that home prices are not going to dip. We just had people overpaying for homes two years ago. Every built home has inflated glue priced in, eventually those payments are going to bite and folks will sell at losses just to get out

@sparkylarry9999 2 года назад

“Just to get out” but go where? I you can afford the payment on the mortgage, just keep living in the house.

@kisikatube 2 года назад

Sellers would not go down and instead choose to rent out their houses, Buyer cant buy houses so they will choose to rent as well and that is what going to happen. Nobody is going to sell their houses 20% down unless there are some exceptional circumstances and they are in urgent need of money

@kbanghart 2 года назад

@@sparkylarry9999 exactly

@jdtreharne 2 года назад

Yup. If you can build a new house for 200, nobody's going to buy your used house for 250.

@DigitalRecollections 2 года назад

Rent on a short term lease (especially a house) is usually stupid high as well as the fees and the cost and time of moving

@eplugplay8409 2 года назад

Right now we are in a bigger crisis than 2008, never say never.

@anthonywebster8638 2 года назад

2008 was due to different underwriting guidelines. Today's guidelines are very strict. Everyone is expecting a "crash", and that means that a crash is most likely not going to happen.

@garret930 2 года назад

2008 was a financial fraud issue, not a supply/demand issue. Our current supply/demand/inflation issue is not in the same ballpark as 2008.

@eshoo8000 2 года назад

@@garret930 what happened to those houses owned by corona victims ?

@nellybelly623 2 года назад

Ramsey is ignoring the fact that In his lifetime he never had a pandemic that caused the low inventory and high lumber prices that made homes spike a crazy amount in one year.

@rebeccaoprea9917 2 года назад

Don’t let fear be your motivation .

@TheMallen07 2 года назад

Very wise words!

@alexpeters7159 2 года назад

exactly

@AVG336 2 года назад

People act as if stagnation doesn't exist. They think just because home prices won't continue going up that they have to "crash" lol

@JB-ri6zp 2 года назад

Well usually when something goes straight up it goes down

@grod805 2 года назад

House prices don't historically just settle down. In a month I've seen like double the amount o lf homes for sale in my city

@kbanghart 2 года назад

@@JB-ri6zp show us how many times in history where real estate values have gone way up, and then way down.

@JB-ri6zp 2 года назад

@@kbanghart Just once due to Wall Street. Wall street is back again. Homes were stable for decades because they were mostly family owned, now they are investor owned and speculative. Grab some popcorn my friend.

@Buttlather 2 года назад

@@kbanghart show me when housing values have shot up like a parabola in the past

@ESponge2000 2 года назад

Real estate goes up and down but almost never ever goes down more than it goes up. Add to that metrics now show no sign of housing prices falling

@1timothydillon 2 года назад

If we have a severe recession they might.

@brandonjohnson5205 Год назад

I bought a house a few months ago. Although my house got appraised for 15k more than what I bought it, this topic still gives me anxiety.

@awborgman 2 года назад

He admits prices could go down in a given neighborhood. Of course! So better to do your homework.

@hvaball150 2 года назад

if you know you are going to move in 12 months... there is nothing to hang on to. rip the bandaid and go. move on. rent as long as you need. renting is almost always cheaper on the balance sheet month to month, saving you more. you should at least MLS it today to see if you really get interest or buyers. it also gives you a year to evaluate all the stuff you have. what is peace of mind worth? you said you would be set! expect the houses to go up. that way anything is a win in your mind.

@chupaperro4 2 года назад

Papa Dave is right!!!

@chuckrose9561 2 года назад

No one ever brings up transaction costs, moving costs, storage costs and stress. They add up when you move several times.

@shadyritaB Год назад

This is exactly my question

@Sarbury12 Год назад

Even though his forecast was off here (many homes have gone down in value since this posted, including mine), he still gave good advice. The stress/financial risk of selling before she knows where she’s going to would be much higher than a possible minuscule dip.

@thejakelegion 2 года назад

FFS Dave. Are you serious? These houses are dropping in price all the time now. I've seen DOZENS of houses around the 350k range and they all already dropped the asking price by 25-50k each in several states. Crazy talk, man. Crazy talk.

@thedestinationstation 2 года назад

Thats bcuz of the Interest rates going up the sellers only option is to drop the prices on their homes. But the overall value of your home should remain around the same price as it is today. A lot of buyers are starting to not qualify for a home loan bcuz of the interest rates going up, thats why the sellers are dropping prices at this time

@thejakelegion 2 года назад

@@thedestinationstation right. But if I buy a house for 275k that was 350k, even at higher interest, that's a lot of money saved for me. Especially as I plan to make double payments until it's paid off. So that's a house... Going down in price.

@Nolaman70 2 года назад

Yeah house prices are inflated, I see a lot of reductions, probably to where they should have been in the first place.

@DrSchor 2 года назад

@@thejakelegion key word: if

@jimroscovius 2 года назад

@@thejakelegion No, the house didn't go down in value. The seller just decided to take less. Big difference.

@BobbyCommas 2 года назад

Something big is coming….just watch and see.

@jayo3074 2 года назад

BlackRock and Blackstone are loving this lol

@leedanielson7452 2 года назад

Home prices are gonna drop substantially in the next couple years it’s already started baby…👍👍

@mr.financial 2 года назад

A home you live in is not an investment to me. That's a necessity of life. Everyone needs a place to sleep at night.

@kailit9984 2 года назад

Exactly, would you sell your dinner and make a profit and not eat

@Cravz69 2 года назад

We just sold our rental house two months ago after the tenants broke the lease, best move we’ve made in years!

@WoodUCreate 2 года назад

That's why you don't rent SFH, only multi units. SFH has all your income tied up in one tenant.

@Cravz69 2 года назад

@@WoodUCreate Actually it was profitable and did us well, we were just tired of being landlords for so long, plus the house is right next-door.

@ChopChic1 2 года назад

What about all of these new developments that sprung up EVERYWHERE during the pandemic? There are tons of cities throughout the US that have built new homes and are asking crazy prices (they start at $800K in my town). With the rise of interest rates, tons of buyers can no longer afford the high pricetag of said developments and therefore you will have a surplus of supplies of high end homes which will eventually have to adjust their prices which will also impact the price of lower end homes.

@RickM23 2 года назад

I guess it will depend on location. For real estate it’s always about location. Might need to see a builder over leverage themselves and collapse. Will it happen? No one knows. These are supposed to be smart people. But who knows?

@matthewtheexposure5841 2 года назад

Or….the real estate companies will rent them out. They have been doing so all across the country. Buying up homes just to RENT them out not to sell them. It’s terrible 😞

@jimroscovius 2 года назад

I wouldn't buy there for sure. Most homes here are about $200k+, although you can find homes for under $200k.

@jeffmorse5599 2 года назад

where are you going to live if you sell is the question all must ask who have these thoughts. with rents being high and hard to find it is not the simple solution it usually would be.

@blackworldtraveler3711 2 года назад

That's why most I know are staying put and not selling. Makes no sense to disrupt your life and family with so much going on in the world currently.

@ILmachiner 2 года назад

The thing dave left out in the supply and demand curve is lending. Nasdaq is down 30% and no one is talking about it. If the backs holt lending buying dries up over night.

@superblump87 2 года назад

Why would they halt lending? That's how they make money.

@ILmachiner 2 года назад

@@superblump87 incorrect. They make money on intrest payments. When everyone is in default they lose money.

@kbanghart 2 года назад

@@ILmachiner not fully correct. They have to lend first, to make interest.

@paulstandaert5709 2 года назад

Unless you plan on moving into an apartment from the house you own, there's no point in worrying about home values as a whole because the next home will most likely go down in value just as much. The only caveat to this would if the home value goes underwater, at which point you won't be able to sell it. But inflation can work to your advantage there.

@Howdy762 2 года назад

yes but the calculation depends on if the cost of renting is less than the "possible devaluation" of the Home. Also the convenience factor is there to consider.

@paulstandaert5709 2 года назад

I find it somewhat disturbing how much people will spend for the convenience factor. It is a major contributor to becoming the "overspent" American. The demise of the manual transmission is a perfect example

@OPP534 2 года назад

Why isn’t Dave talking about a correction? Are you telling me that these houses that are overpriced by 50k are going to stay that high? I’m having trouble undertaking Dave on this one.

@KeatonDee 2 года назад

Overpriced by 50k? Where is this? Here in Vancouver they’re about 500k overpriced.

@OPP534 2 года назад

@@KeatonDee from 50-100 in the DFW, Texas

@janto2787 2 года назад

@@KeatonDee Florida also

@Bone89 Год назад

I’m curious how u think they will go down.

@rosamoreno4794 2 года назад

There not going down but houses aren’t flying off the shelves anymore. 😂🤣

@stevenporter863 2 года назад

People don't listen before they ask Dave a question. 🤦 Dave must have said 100 times real estate prices will not go down, just increase at a slower rate.

@charlesjackson1700 2 года назад

They are where I live !! And climbing.🤑

@theflightsimulationexperie6894 2 года назад

Yup. Already in my city (Charleston South Carolina), we are seeing price cuts and the idea of buyers offering 20,30 or 80k over asking….not happening anymore.

@Bone89 Год назад

Dave was right.

@IronTom 2 года назад

will see how it ages

@davidmason777 2 года назад

You have thin triceps do skull crushers it will help with the thickness

@mattyp3119 2 года назад

😂 this advice.

@Shogun973 2 года назад

BS it’s never been this high ever. She should sell

@abrahamflores2566 2 года назад

I am glad Dave knows real estate is not likely to crash but at the same time if prices are going to stay high he needs to adjust his mortgage advice so people can actually buy a house in a reasonable amount of time

@Rachel-zc8ur 2 года назад

He doesn't say you have to have 20% if it's your first home. Mentioning that because I learned that recently.

@abrahamflores2566 2 года назад

@@Rachel-zc8ur I know he says you can buy a house with 10% down, it's his 15 year mortgage at 25% of take home pay that's the issue. On average it would take someone making $100k a year to have a downpayment of $100k plus in most cities. Most people would need to save money for a decade to put as downpayment

@jimroscovius 2 года назад

@@abrahamflores2566 What? Why would you put $100k down?? Hopefully that's not 10% or 20%. If it is you'd better move somewhere else.

@abrahamflores2566 2 года назад

@@jimroscovius plug in the scenario. $100k income after taxes is $82k/ year. So at 25% of take home pay your max payment is capped at $1700. Your max loan amount would be around $170k. So if houses in your area go for $300k you need $130k down payment. Now what if you make $90k a year and houses in your area go for $350k on a starter home? 90% of the population would take a decade to save enough money to buy a terrible cheap home

@Rachel-zc8ur 2 года назад

@@abrahamflores2566 oh yeah I didn't think of that. I'm outrageously blessed to be higher income with LCOL. I can't imagine being in a HCOL area < 6 figures. I wonder if there's going to be a shift and people are going to start to spread out more. If city prices aren't going to go down, people need to move. Is this an insensitive statement? My family always moved to where the jobs and affordability was. It did mean we didn't grow up near grand parents, but I don't know how else they would have made it.

@mbyrd6713 2 года назад

I’d say sell while there are plenty of buyers. I’m a year, it might be harder to find buyers and make as much of a profit.

@markspark7347 2 года назад

If you own a house and move to another house whether it goes up or down, the other house does the same thing

@scarpfish 2 года назад

Even if it did go down some, having to move twice makes it more of a PITA than it's worth. Besides, she's in Orlando. Unless that lunatic governor drives Disney away, she should be fine.

@davidking4779 2 года назад

Be4lieving that the prices will not go down is a leap of faith that I won't take.

@rickanator65 2 года назад

Inventory is going up lol

@edu_crypto_cation5452 2 года назад

HOPE ALL IS BLESSED! AND GET THE FINANCIAL FREEDOM YOU DESERVE!! IN ORDER TO SPEND MORE TIME WITH YOUR LOVED ONES!! AMEN🙏🙏🏻🙏🏼🙏🏽🙏🏾🙏🏿

@habibj 2 года назад

Supply & Demand

@Keepasking123 2 года назад

Not sure about your advice here, Dave. I’m in Ontario, Canada and prices are definitely coming down already.

@ElonMuskZonefx 2 года назад

Let's talk

@bobsacamano7653 2 года назад

How do the prices continue to go up when nobody works?

@mobilemoke 2 года назад

Mark Dave’s word, he is wrong...they will go down in the next 12 months. I already see price cuts of 10k 20k 30k

@Bo55world 2 года назад

Unless your downsizing it doesn't make sense to sell at the peak.

@alastor8091 2 года назад

I don't understand why people treat their houses like investments and not frigging houses. I don't care if the value was $0, its a place to live and put your head down. TREAT IT LIKE YOUR HOME, NOT A STOCK. Maybe if people did that housing prices wouldn't be so ludicrous.

@kailit9984 2 года назад

Amen!

@Bone89 Год назад

U actually have it backwards. Most people don’t look at it as investment. It’s about area, impressing friends, schools. I look strictly as investment. Cuz I’m smart. Actually cuz I’m single. I’m dumb actually

@hdrones6697 2 года назад

I guess i live in Vegas and the price has exploded too much to sustain . So I’m more biased than some random middle America places

@dilshod121 2 года назад

House business is good. So, you can earn more money and also may buy new, deluxe house. What do you think this opinion is right?

@melissarich5095 Год назад

Boy was he wrong.

@OurFellowGamer Год назад

This didn’t age well

@CaptainHookhatesBooks 2 года назад

Dave is the only one rightnow saying buy buy buy.

@eminaroses7005 2 года назад

You’re wrong, Dave.

@superwhitt21 2 года назад

Some people should sell.

@BiesingerFIREJourney 2 года назад

At best we might get a level out / plateau in home prices… hopefully it can go down a bit though!! 🤞

@ChrisAmaro 2 года назад

How many pandemics has Dave experienced? He said in his life time real estate has only came down once and that was 2008. We also had one pandemic in our lifetime and that was 2020.

@yuecherry 2 года назад

Exactly

@hdrones6697 2 года назад

“More difficult to sell” aka price reductions ?

@stephenpitner7369 2 года назад

I love Dave Ramsey and he gives great advice but this might not age well.

@Andrew-ro6cr 2 года назад

This is a total guess and the woman asking the question should not ask such questions. No one knows.

@Buttlather 2 года назад

@@Andrew-ro6cr he could have said that. Instead he says no, it will definitely not go down in the next year. That's a bold statement.

@bmcdonald7303 Год назад

It’s July 2023. It has not gone down here in Alabama.

@blueboat9581 2 года назад

Interest rates are double what they were in November

@ChopChic1 2 года назад

What happened to the idea that real estate is cyclical and eventually comes down? I thought this was a well known fact? I don't see wages supporting these outrageous prices, plus interest rates rising and all of the new builds during the pandemic impact supply. It seems like a perfect storm for a drop.

@adamseidel9780 2 года назад

Narrator: It was not a well known fact.

@d_all_in 2 года назад

Real estate isn't cyclical though

@constantin58 2 года назад

It's a bubble

@superblump87 2 года назад

When has real estate gone down and not gone back up?

@kisikatube 2 года назад

@habibj 2 года назад

The quick rise in interest rates only made matters worse.

@kylechaffo4921 2 года назад

We’re all experts huh

@Giopowered 7 месяцев назад

Houses never decrease

@therealmac1044 2 года назад

It’s already slowing buyers are gone .I believe a year from now the house they own will be 30 percent less .

@jimmymcgill6778 2 года назад

Some places the prices are coming down. I still wouldn't sell if you are just going to move soon.

@DanielGarcia-zz9eg 2 года назад

rates are going up on loans, buying will go down

@blackworldtraveler3711 2 года назад

And no point in selling.

@TigerOscar78 2 года назад

I love Dave but he does not have all the correct answers all the time...

@mba2ceo 2 года назад

BS !!! EVEN if it is 10% reduction with a 300K house ... it is WORTH IT

@NH-wk9iq 2 года назад

Sage wisdom from Dave. Love it.

@patty109109 2 года назад

The house appreciated in 12 months. Why can’t it dip?

@oroville12345 2 года назад

Dave just buy more stocks

@demri123 2 года назад

I would say sell now

@ronpagala7496 2 года назад

Sell High Buy Higher

@trainsandlocomotives 2 года назад

Sell? What if you can’t buy another place and have to deal with a landlord that may try to clean you out.

@DrSchor 2 года назад

i conclude you are not a landlord

@edhcb9359 2 года назад

Too late. You missed it.

@mccoyji 2 года назад

Dave lives in Brentwood TN. $$$$$$$$$$$$$$$$$$$$

@DonesdeMotivacion 2 года назад

Listen babies You do not sell real estate you’re holding in Orlando FL, period A lot of people from upstates are moving because of the weather, a lot of immigrants from Latin America are moving because of the latino friendly environment and a lot of people from all over the world are moving for their prime theme parks and entertainment. No, you can sell in many neighborhoods but don’t expect for Orlando FL to fall so easily

@xfhnhhgjbvcfg 2 года назад

If you don't want multiple cash offers for above asking price then definitely wait. If you want a extra 30k in your pocket then don't...

@deficator750 Год назад

if dave was in my country he be -26% correct.

@tgtongue 2 года назад

Dave acting like meteorologist and saying he is off the hook for this comment shows just how much faith he has in what he is saying...

@untouchable360x 2 года назад

“Name a product that increases in value with age AND use.” KS

@austinduke8876 2 года назад

land

@Jajaky 2 года назад

RIP

@1timothydillon 2 года назад

Though I don't drink, I know it's certain types of alcohol.

@untouchable360x 2 года назад

@@austinduke8876 Land is property. Not a product.

@untouchable360x 2 года назад

@@1timothydillon opened bottle is worth more than unopened?

@justinwestmoreland3020 2 года назад

I disagree she should sell now

@mccdrew7012 2 года назад

Dave really should not give this advice. Data is confirming that this will crash or at very least have very large correction. Keep in mind Dave also said this EXACT same thing I’m 2007…

@kingambler8950 2 года назад

prices went right back up, your point? only people who got curshed in 2008 were the ones who sold

@mccdrew7012 2 года назад

@@kingambler8950 crashes are temporary, it doesn’t mean they don’t happen… What’s your point?

@mccdrew7012 2 года назад

@@kingambler8950 also, trying to defend convincing people it’s ok to buy at the peak of the largest RE bubble in history is moronic.

@pamelacarrasco3736 2 года назад

Love your channel.

@roolyfe 2 года назад

Can the average person own a home 🏡!! Nope

@adamseidel9780 2 года назад

Well 2/3 of Americans do own a home… so… wrong.

@DrSchor 2 года назад

@@adamseidel9780 hello roo. help me understand. since 65% of americans own their home, why do you say an average person cannot? thanks for sharing your very interesting thoughts my friend.

@roolyfe 2 года назад

@@DrSchor hello. thanks 😊 again for being candid. From my experience I don’t feel I will ever own a home 🏡. Very little opportunity to move up in America 🇺🇸