3 House Hunting Red Flags You Should Avoid
3 House Hunting Red Flags You Should Avoid
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One tip is to always look into city planning in the zone of the house. Last year a new builder was offering amazing price cuts and incentives. This was ultimately due to a homeless shelter that was going to begin building right next door within the year. Always look up articles about the area even your cross streets. You might find out information that can save you from headache.
Can you PLEASE research a home for me in Illinois? I’m located in NC right now
A lot of homes look great in the pictures on Zillow but then are horrible when you look at them in real life. These photographers and filters are good at masking cosmetic flaws
“Unreasonable seller” 🎯💡
I bought a house that had been on market for 300 days. Both the seller and me got a very good deal. People have strange ideas about things and days on market leads the top of my strange ideas list.
Time stamps please
I just got an offer accepted, but the seller is not sending over the disclosure. It's a life estate property with multiple owners. One of my conditions is upon satisfactory of reviewing the disclaimer after 2 days of offer accepted. It has been way past 2 days. Is there a red flag here? Please advise.
Being on the market a long time is not a bad thing. It could be cause seller is trying to get the 2022 price but it isn’t worth that anymore. However, this gives you negotiating power. Don’t let your buyers miss out because you think they may not negotiate.
I hope you see this!!! What about a house that was on the market for 93 days with no price adjustments & never went under contract but when we put in an offer 20K lower than the list price & asked for sellers assistance the seller declined our offer? They declined the price decrease because “they owed the bank loan” & would have to bring cash to closing if they reduced the price but they agreed to the sellers assistance. Thoughts?
This made me not want to buy a house lol😂
Thank you
13:08 – I recognize the first level of Sonic 1 when I hear it.
Days on market should be outlawed. It paints an unfair picture of many good homes that are still on the market for various valid reasons. I find it ridiculous that people just look at the days on market and only want to buy freshly listed properties.
Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighbourhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighbourhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
Asking too much discount can also get your offer rejected if you really love the house.
I live in an area with basements. I'm always concerned about foundation issues and water damage, so the first place I go is the basement. One place I looked at (Open House) – realtor was right on my heels when I went to the basement, and was clearly trying to divert my attention. I ran far and fast from that one.
Something to consider when first talking to your lender and getting quotes for rates, it's almost always better to lock in a rate if the economy is shaky, like right now. We waited 2 weeks to lock in our rate and DESPITE the Federal Reserve lowering rates, interest rates for mortgages went up by 0.25% for us. Not a huge deal but an extra $60 we have to pay each month.
Ok so we live in SoCal where the average decent ok home is going for 600k plus right now. For starter we don’t have enough saved for a 10 or 20 percent down. I called a lender for shits and giggles and he said we need to have 60-100k saved that really shot our dream of owning a home in SoCal. The trend that I’m seeing now in homes that are for sale here is homes sold for 400k in 2020 are now selling for 700k with out any upgrades or renovations.
A house that looks like that in corona is definitely no where near $330k 😂
If the house has a wonderful ocean, mountain, or city view, I think it is fine to lead with that picture instead of the front of the house. Good views are valuable.
Central Florida House market = Catfish central
Thank you I know what to look for when I go to purchase me a house. I thought it was showing you the kitchen in the living room meant the old is the awesome house but I see now if it doesn’t have a main picture of the main front part of the house is the red flag. Thank you
Good advice on your videos. I found your channel just now looking for information on buying a home, plus I heard Sonic music at the end. Instant New SUB!
So technically Americans could afford only to eat cheap food, watch crap Netflix series, and have 0 vacations just to afford a house made of paper with tiny windows and tons of hidden payment. How does it work? what is the meaning of live then?
Number of days on the market is the buyers' fault and not the sellers'. Inspectors come through and flag minor things and first time buyers want everything to be perfect and they don't want to do any work on it; which is bad for them because things break and they need to get used to that.
Is there an indication that the housing market is going to crash? Just moved down south from NYC, and I'm home shopping.
There are 3 new construction houses near us. Been on zillow 400+ days, no price reduction and no change in status. It's weird
Renovated house is like putting lipstick on a pig, everything look good on the outside but fuqqed up internally like foundation, hvac, plumbing, electrical, mold so many thing that could be going on that u cant see from the surface.
Great info.
Some things to think about
Some of those “red flags” can be a great deal
1. 90 days or longer on the market? Offer 10-15% less . Your first offer will not be accepted, your 10th offer will not be accepted. You 30-40th offer will be accepted. Offer 20% less and you just got a deal even you you have to fix or change couple things later.
2. If the house just went on the market and it is well priced all the detailed questions about remodeling will be politely answered and the first offer will be accepted and you will loose the deal .
Just do the inspection and make an offer .
“Completely updated”- painted white and gray – lol!
It’s funny your red flags are like potential gold flags for investors. A. Makes it better to negotiate lower price and easier to negotiate less time wasting. I would add try to hire inspectors that have certifications many states don’t require it. Also, look at equity on the house if it’s still under water could be a great buy they are trying to get out of a mortgage you get it super cheap just have to take over the payments long term they get out of the obligations..
The problem with updated homes is they update everything you see and nothing you don't which is what you want updated because when the plumbing and electric and havoc go wrong it won't matter that it has quartz counters and new cabinets
Maybe just maybe no one is interested cause there is no good job in the city
Don't buy cardboard houses… Buy brick houses. Their value lasts…
Javie you are adorbs
I agree about the red flag #3. Sometimes these listings don't even be having pictures of the front or the yard of the house at all…. like hello……what are we doing people???
i HATE house flippers
upgrading things no one asked for and overcharging
I foresee a potential downturn in the housing market, attributed to a significant number of individuals purchasing homes above the asking price, despite favorable interest rates. Despite these low rates, many now find themselves at risk due to insufficient equity in their properties. If housing prices continue to decline, they may encounter challenges in selling their homes or even face foreclosure if they can no longer afford their mortgage payments.
I am seeing Realtors take housing off the market and then relist it to make it look like a new listing. Sometimes they add "reduced price" to it but then if you look at the history you see the game they're playing.
I have also seen Realtors raise the price just to lower it to make it look like the price has been reduced.
Some property I'm looking at for sale is still for sale almost 2 years later and the realtor is doing what I mentioned above consistently. (The property is extremely overpriced and that's why it's not selling.)
In all of the years that I have bought and sold my own home I have dealt with about two dozen Realtors and only about three Realtors were actually honest to me. So I find a lot of unethical Realtors out there that are dishonest.
How can you find the tax records?