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Enjoy! Add me on Instagram: GPStephan
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JOIN THE WEEKLY MENTORSHIP - https://the-real-estate-agent-academy.teachable.com/p/graham-stephan-mentorship-program/
THE NEW PODCAST: https://www.youtube.com/channel/UCMSYZVlQmyG8_2MkIKzg0kw
The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
Real Estate Market Update:
Even though mortgage rates just recently hit their record low for the 13th time this year…low inventory means it’s going to be more difficult to find a house, THAT’S going to lead to more competition, and - in the end - that translates into HIGHER PRICES.
There's also a brand new 0.5% “ADVERSE MARKET FEE” that will be charged on ALL Fannie Mae and Freddie Mac home refinances beginning December 1st.
n terms of what this means for you - if you have a mortgage backed by Fannie Mae or Freddie Mac, which is about 50% of all home loans…if you want to refinance your house, it’s now going to cost your lender an extra .5%, which is expected to then be passed on to YOU as the customer.
Overall, even though I THINK that type of “adverse market fee” is annoying…it’s not the end of the world. When you refinance a mortgage, you’re doing so because you want to lower your payment…and even though a .5% fee means less money back to you…in most cases, you’re still saving money at the end of the day.
And lastly…let’s talk about what’s going on with mortgage forbearances:
The GOOD news is that, since April…the total number of loans in forbearance has been steadily decreasing week after week, as homeowners began making their payments again. This was a REALLY good sign that, homeowners took forbearance out of an abundance of caution…they didn’t need it…and now they’re in a good position to resume as usual. HOWEVER…in an unexpected turn of events…in these last 2 weeks, for the first time since April… the number of mortgages in forbearance actually started to tick back up.
Now, a more TELLING sign would be if this trend CONTINUES for another few months, in which case - that’s something to address….OR, if this is a result of new shutdowns, fewer people opting OUT of forbearance, or wanting to play it a little safer over the holidays.
It’s too early to tell, but I’ve still maintained the position that - overall - mortgage forbearances only make up a small portion of the housing market, it won’t cause a wave of foreclosures, and even IF people are unable to pay - I have a strong feeling that banks will want to work with their clientele to AVOID foreclosing on them at all costs. So, I’d venture to say that - even though, YES, it’s unfortunate that these numbers are going up - it’s too early to draw any meaningful conclusions.
If you’re a buyer for homes right now, my best advice is to keep looking, don’t get discouraged, and you MUST be quick to get a deal when you see the right home. I WOULD expect prices to come down at some point, ESPECIALLY once interest rates EVENTUALLY go back up…but, that could be awhile, and until then, if you’re looking for some place to buy and hold long term, over 10 years…it’s probably a better idea to spend the time finding the right place, locking in as low of a rate as you can possible get…and then, do nothing.
As long as you can comfortably afford to make the payments, any fluctuations in price won’t matter…and from there, you can ride out anything that might happen. Long term, I’m still bullish on real estate…but, in the short term, competition and lack of inventory is going to make it REALLY hard to find something worth buying.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
Enjoy! Add me on Instagram: GPStephan
LIMITED TIME: Get 4 FREE STOCKS ON WEBULL when you deposit $100 (Valued up to $1400): https://act.webull.com/k/Vowbik9Tm5he/main
JOIN THE WEEKLY MENTORSHIP - https://the-real-estate-agent-academy.teachable.com/p/graham-stephan-mentorship-program/
THE NEW PODCAST: https://www.youtube.com/channel/UCMSYZVlQmyG8_2MkIKzg0kw
The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
Real Estate Market Update:
Even though mortgage rates just recently hit their record low for the 13th time this year…low inventory means it’s going to be more difficult to find a house, THAT’S going to lead to more competition, and - in the end - that translates into HIGHER PRICES.
There's also a brand new 0.5% “ADVERSE MARKET FEE” that will be charged on ALL Fannie Mae and Freddie Mac home refinances beginning December 1st.
n terms of what this means for you - if you have a mortgage backed by Fannie Mae or Freddie Mac, which is about 50% of all home loans…if you want to refinance your house, it’s now going to cost your lender an extra .5%, which is expected to then be passed on to YOU as the customer.
Overall, even though I THINK that type of “adverse market fee” is annoying…it’s not the end of the world. When you refinance a mortgage, you’re doing so because you want to lower your payment…and even though a .5% fee means less money back to you…in most cases, you’re still saving money at the end of the day.
And lastly…let’s talk about what’s going on with mortgage forbearances:
The GOOD news is that, since April…the total number of loans in forbearance has been steadily decreasing week after week, as homeowners began making their payments again. This was a REALLY good sign that, homeowners took forbearance out of an abundance of caution…they didn’t need it…and now they’re in a good position to resume as usual. HOWEVER…in an unexpected turn of events…in these last 2 weeks, for the first time since April… the number of mortgages in forbearance actually started to tick back up.
Now, a more TELLING sign would be if this trend CONTINUES for another few months, in which case - that’s something to address….OR, if this is a result of new shutdowns, fewer people opting OUT of forbearance, or wanting to play it a little safer over the holidays.
It’s too early to tell, but I’ve still maintained the position that - overall - mortgage forbearances only make up a small portion of the housing market, it won’t cause a wave of foreclosures, and even IF people are unable to pay - I have a strong feeling that banks will want to work with their clientele to AVOID foreclosing on them at all costs. So, I’d venture to say that - even though, YES, it’s unfortunate that these numbers are going up - it’s too early to draw any meaningful conclusions.
If you’re a buyer for homes right now, my best advice is to keep looking, don’t get discouraged, and you MUST be quick to get a deal when you see the right home. I WOULD expect prices to come down at some point, ESPECIALLY once interest rates EVENTUALLY go back up…but, that could be awhile, and until then, if you’re looking for some place to buy and hold long term, over 10 years…it’s probably a better idea to spend the time finding the right place, locking in as low of a rate as you can possible get…and then, do nothing.
As long as you can comfortably afford to make the payments, any fluctuations in price won’t matter…and from there, you can ride out anything that might happen. Long term, I’m still bullish on real estate…but, in the short term, competition and lack of inventory is going to make it REALLY hard to find something worth buying.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
Review my channel! @Dylan365 I posted a video every single day for a full year. Rip apart or promote as you wish I respect your insight!
Out of curiosity! Where do real estate agents from people to film video and take pictures of property you listed for sale?
I heard you Californians will buy a house at full market price with no upgrades/repair just to get out of the state
All bias comments. “It can goes up and it can goes down”. &@!#
I just made a video on the housing market and how prices might continue to go up.
Hopefully that doesn't happen but if it does then hopefully lower interest rates come along.
Graham! I bought my house 4 years ago and the value looks to have gone up 60k compared to comps. I want to sell it but realize it’s interior is outdated and has foundation issues. What should I do? People are throwing cash at me left and right to buy my house but I have money to rehab it myself but don’t know where to start or what to do first.
So is it a good thing I'm going into Real Estate?!
Is it still a good time to become a real estate agent? I can’t stand working night shifts anymore
Currently refinancing. Needed the reminder 🙂 My interest rate is 4.875 I'm locked in now at 2.5 converting to 15 year mortgage
Mortgage companies are making lots of money this year from refinancing and sales at record prices. We will see the effect when they feel an effect. It’s dark on the horizon. Change is coming. I anticipate changes to how the foreclosure process is implemented.
what does this mean for real estate agents and small business?
The "bitcoin infomercials" in the comments, same storyline, different names, are pretty sad …..
@Graham I think the FNMA situation warrants some closer inspection. You are missing the part where the seizure of these organizations by the government was probably unconstitutional and there are a lot of lawsuits against this action (more than 10 years ago) have started to work their way through the courts with more and more positive outcomes. They may have to recap and privatize based on court rulings anyway. This is a long drawn out saga. Maybe FNMA never should have been privatized in 1968, but that's what happened and a lot of private property was arguably illegally seized before they actually even became insolvent during the GFC.
Yeah, I work for a real estate group in Dallas and we have so many buyers, so few listings. We have had multiple listings go under contract literally a day after hitting the market for well over the asking price. It's nuts.
Just bought first investment property at 22 for 750k, bring on a crash, my next property will just be at a discount!!
Graham I wish you would see this comment. My entire life has changed because of you. And truly only you. I started following you when you had around 10k subscriber and were mainly talking real-estate. I took your advice literally while watching one of your videos and called a lender about a property I seen for sale I wanted to own. I ended up buying that house. I now own 4 houses and am doing YouTube full time. And have become a great day trader after the success bug bit me. I was able to get out of the Army after 10 years because of the position I’m in now thanks to you. You’re a true saint In my life. If YouTube did you any good. It wasn’t money. It was the help you provided
Come on bro! Were you born less than 20 years ago or something? Of course a housing crash will come. SMH. It's cyclical. Every 10 years or so. We don't even deal with "money" any longer. It's called Fiat currency. Most people buying homes are not home owners when taking on a mortgage. You don't own an asset until it's free and clear. As an investor I leverage "cash deals" and don't take loans, especially hard money loans. Anyway, most investors I know are preparing for a crash. Oh and have moved from California. The sinking ship! Wait and see. The writing is all over the walls and the sidewalk for crying out loud! I'm working on deals in Illinois and California and there's just too much competition creating artificial inflation in the housing sector. Hot air balloons eventually come down or burst!
Graham, I'd be interested in what you think about the current Supreme Court case being made right now regarding Fannie and Freddie? With such a conservative court and previous rulings in favor of getting rid of conservatorship, it seems now more likely than ever that they could return to being privatized? Also, Bill Ackman made public that he has been betting on them to be privatized as of today. Any insight would be awesome, thanks!
SHORT SHORT SHORT SHORT SHORT SHORT SHORT SHORT SHORT SHORT SHORT SHORT
I just bought a house and it was difficult finding one in my area that wasn't sold 2 days after listing. I got lucky with my house- seller accepted my offer 3 days after listing, FYI. I just closed on Dec. 1, and I am soooo happy with my interest rate under 3%! While I'm living here now, the plan is to eventually turn it into my first rental.
what are the odds that the rest of the country experiences market corrections like Manhattan is currently going through?
Since real estate is gradually failing now is a good time to invest in cryptocurrency,Cryptocurrency is always profitable,Even with the instability of bitcoin price i’m still able to manage my portfolio from 0.56btc to 2.87btc just within few weeks of trading with wilson,i no longer work 9-3 and that is financial freedom
I recommended a professional broker to you guys sometime ago, can I get persons who invested with him comments below let's gooooooo
so is it worth getting my real estate license in socal right now? I’m taking courses next semester
Ads in the middle of the vids are super annoying Graham. I pay for Premium for a reason 🙂
Here is a fun fact. Most of your bank loans have all been outsourced to India. Oh and they have no idea who really owns your note. It's insanity.
Wheouw you're a great story teller, can we hear Netflix's? =D
The 0.5 pricing hit on Conventional loans is for all loans closing after December 1st and doesn't affect VA or FHA loans. However, for every lender I work with (I broker mortgage loans with 108 different lenders) that adjustment was factored into rate locks way back in October. Pricing on loans has actually gotten better than before that pricing adjustment was first announced and rates are still dropping. Don't panic if you haven't refinanced yet. Fannie and Freddie are paying lenders less, but that's already being factored in. Rates are expected to keep dropping through the end of 2021 and will stay low through 2023 or 2024. The fed won't raise rates until the economy is in better shape.
interest rates are never going to go up, the fed is useless
I'm looking for a homestead/small farm in Florida. Maybe something I can put an airstream on, have another air bnb property…
The government and central bankers keep screwing the millennials and fist time home buyers. Too bad there won’t be an economy left for them to “protect” at the end of this nonsense.
Whats up graham ✌ your hair is looking good. You had a little bit of receding hair line which seems to growing back . What product or treatment are you using can you please share with us and help a brother out. Thanks in advance 😃
Hello everyone I'm actually looking for a good trader that can help me trade and make good profit, but is very hard to see a trusted one….any idea.
Pretty dead on, expect for the Dec 1st date for the FHFA .5 fee. This fee is for all loans sold to Fannie and Freddie, so lenders have already priced this in for the last 45-60 days.
Cool channel, check out mine and let me know what you think.