I've seen a lot of people spend big money on updating their houses before selling and end up putting in outdated/undesirable finishes and everyone loses......I would agree for sellers that outside of paint or inexpensive upgrades, let the next owner decide what to do with the house unless you're an industry professional(real estate agent/investor or interior designer)
Location, location,location, still matters…especially for your primary residence?… if you are an investor, it still matters, however risk factors vary, as do intentions… imo
@@Rickhelps No feeling involved, just math/history. 1. 7000 boomers are dying per day rising to 11,000 in 2035, 80% own a house 2. Net zero working age demographics (first time in US history) and down from 2m/yr in 2008 3. Inverted yield curve 4. unemployment trajectory 5. Affordability > Volume > jobs > price
@@NoOne-h7o some people see the amount of liquid in the glass from a different perspective … some jump over dangerous sea monsters, and some count things before their omelet is cooked… to each their own… plan accordingly 🤔😜👍🏻
Thanks Rick, always honest! Buyers are sitting on the sideline because of the unusually high prices. Saw a house that was purchased three years ago for $520k. They want $1.1 million. The write up said handyman special make the inside of this home your own. The outside was a mess and it said the landscape is a canvas to make it your own. I laughed so hard I almost peed my pants.
I’ve heard realtors and other loan officers say since Fall 2022 it will just be a small storm to weather buy now take the higher payment for a little. And you can refinance later without any issues
I am pretty handy. Some play videos games. I play plumber, electrician, car mechanic, etc. I used to encourage people that they can do it themselves. Sadly, I have found out that some people are completely unskilled to quite a horrifying level. I don't encourage anybody to do anything themselves anymore unless they have a desire to do so.
Rick, I follow a few other AZ real estate UA-camrz as well… why does the North Valley get so little mention?.. we have TSMC/business growth, lake pleasant, quick access to cottonwood/sedona/flagstaff, new builds, Sonoran reserve, hills, new303/17, and the best master planned community(biased)…in your experience why so?
I never thought about that. Thank goodness the I-17 has been widened. Anthem is pretty nice as a tract home community. $/sf is more reasonable but it's a long slog north from the airport, places of employment, etc and a private water utility is a no-go for many.
The data gets rolled into the Phoenix numbers. Not much to pull up and look at until homes are finished up there. The large develepment they have planned has been called a city within a city. It is a prime location when it comes to getting up north. For now most of the resale growth has been in Perio due to the chip plant.
@@Rickhelps thx for the responses, Anthem is a great place… private water or public they are both regulated, nothing is free…sky harbor is 30-45mins no that far imo, employment is everywhere!… Scottsdale is 20-30mins away… that fact that we are lumped in to maricopa is kinda a thorn for me… I don’t think we should be, but that’s a whole other reasoning session… but with the 303 industry warehouse growth, and the “new Silicon Valley talk..(with the recent purchase of the adjacent tsmc property… there are some great opportunities ..imo.. but… maybe we should not say it to loud… we like our peace up here and don’t need the negativity from the other parts of “phoenix”… perhaps we should channel whatlGandalf said… keep it secret, keep it safe.. have a great day🇺🇸
@@slurrpboi9647 It wasn't that long ago that the Anthem water company was well known for all the wrong reasons. High bills. It is going to be interesting to see the impact of the area with all of the new growth on the table.
Hi Rick….I get what you’re saying about not being averse to a house that needs updates in order to get a better price, but aren’t supply issues and contractor availability for doing the work still a problem? We’ve been looking to move for a while now and have been looking at newer or already-updated homes, mainly because we’ve already done the updating thing in our last two houses and don’t want the hassle, expense and stress.
Not sure that all the fix ups are necessary in all cases. I’ve witnessed a realtor give our neighbors a list of must changes. They changed the realtor and the property sold within a week. Some fixes are more of an issue than others 🤷♂️
Honest analysis is always appreciated.
Thanks
Agreed. I always hold experts in high regard when they admit they don't know everything.
I've seen a lot of people spend big money on updating their houses before selling and end up putting in outdated/undesirable finishes and everyone loses......I would agree for sellers that outside of paint or inexpensive upgrades, let the next owner decide what to do with the house unless you're an industry professional(real estate agent/investor or interior designer)
Location, location,location, still matters…especially for your primary residence?… if you are an investor, it still matters, however risk factors vary, as do intentions… imo
Having sold about $250m/yr in subprime during the GFC and now following every piece of data I can find, I can tell you this only gets worse from here.
What are you seeing that makes you feel that way?
@@Rickhelps No feeling involved, just math/history.
1. 7000 boomers are dying per day rising to 11,000 in 2035, 80% own a house
2. Net zero working age demographics (first time in US history) and down from 2m/yr in 2008
3. Inverted yield curve
4. unemployment trajectory
5. Affordability > Volume > jobs > price
@@NoOne-h7o some people see the amount of liquid in the glass from a different perspective … some jump over dangerous sea monsters, and some count things before their omelet is cooked… to each their own… plan accordingly 🤔😜👍🏻
Thanks Rick, always honest! Buyers are sitting on the sideline because of the unusually high prices. Saw a house that was purchased three years ago for $520k. They want $1.1 million. The write up said handyman special make the inside of this home your own. The outside was a mess and it said the landscape is a canvas to make it your own. I laughed so hard I almost peed my pants.
@@timolson-qi5hj That is rough
I’ve heard realtors and other loan officers say since Fall 2022 it will just be a small storm to weather buy now take the higher payment for a little. And you can refinance later without any issues
As if they held a crystal ball
@ they don’t. And I’m curious what will happen as more 2-1 buydown start to expire
I am pretty handy. Some play videos games. I play plumber, electrician, car mechanic, etc. I used to encourage people that they can do it themselves. Sadly, I have found out that some people are completely unskilled to quite a horrifying level. I don't encourage anybody to do anything themselves anymore unless they have a desire to do so.
Rick, I follow a few other AZ real estate UA-camrz as well… why does the North Valley get so little mention?.. we have TSMC/business growth, lake pleasant, quick access to cottonwood/sedona/flagstaff, new builds, Sonoran reserve, hills, new303/17, and the best master planned community(biased)…in your experience why so?
I never thought about that. Thank goodness the I-17 has been widened. Anthem is pretty nice as a tract home community. $/sf is more reasonable but it's a long slog north from the airport, places of employment, etc and a private water utility is a no-go for many.
The data gets rolled into the Phoenix numbers. Not much to pull up and look at until homes are finished up there. The large develepment they have planned has been called a city within a city. It is a prime location when it comes to getting up north. For now most of the resale growth has been in Perio due to the chip plant.
@@Rickhelps thx for the responses, Anthem is a great place… private water or public they are both regulated, nothing is free…sky harbor is 30-45mins no that far imo, employment is everywhere!… Scottsdale is 20-30mins away… that fact that we are lumped in to maricopa is kinda a thorn for me… I don’t think we should be, but that’s a whole other reasoning session… but with the 303 industry warehouse growth, and the “new Silicon Valley talk..(with the recent purchase of the adjacent tsmc property… there are some great opportunities ..imo.. but… maybe we should not say it to loud… we like our peace up here and don’t need the negativity from the other parts of “phoenix”… perhaps we should channel whatlGandalf said… keep it secret, keep it safe.. have a great day🇺🇸
@@slurrpboi9647 It wasn't that long ago that the Anthem water company was well known for all the wrong reasons. High bills. It is going to be interesting to see the impact of the area with all of the new growth on the table.
Hi Rick….I get what you’re saying about not being averse to a house that needs updates in order to get a better price, but aren’t supply issues and contractor availability for doing the work still a problem? We’ve been looking to move for a while now and have been looking at newer or already-updated homes, mainly because we’ve already done the updating thing in our last two houses and don’t want the hassle, expense and stress.
I guess it all depends on the scope of your work. I was referring to simple upgrades that do not require a contractor.
Not sure that all the fix ups are necessary in all cases. I’ve witnessed a realtor give our neighbors a list of must changes. They changed the realtor and the property sold within a week. Some fixes are more of an issue than others 🤷♂️