Transcription
I'm selling my house and I need you to tell me what's wrong with it because I don't see it and we don't have any offers yet. My house has been on the market for 95 days and we're supposed to move to Arizona in 3 weeks and I thought that we would have been super done with that, but we're not and we've lowered it just about as low as we can go at this point because now we're in a time crunch. And my house is so cute. Look how cute it is. And nobody wants to buy it. No one's even hardly come. No showings. I mean there's been like four. Four in 95 days. We've had a million open houses. I don't know what else to do. I don't know what else to do. It is $429,000. If you want to buy it, it's a six bedrooms, three bathrooms and technically it's over 4,000 square feet, but it is um on paper 2,700 square feet because the basement's walls aren't done.
>> Where the hell do they live? 400 grand for six bedroom crib? Yeah, I live in the middle of nowhere, dude.
>> Well, I'm selling my house and I need you to tell me what's wrong with it because I don't see it and we don't have any offers yet. Built in 1945, this house is 80 years old, the original foundation, but it does have a modern kitchen which is nice. It's got a huge family room then you walk right into the bathroom and you have your two bedrooms here and here. It's the perfect starter home for me and my family. It will be for you as well. In the backyard, it's basically a blank slate, but it's massive. My husband wanted to put in a pool. I wanted an orchard. Then when we had our third baby, we were like, okay, let's expand the house out here and then we decided just to move to a bigger home. This house is adorable. It's whimsical. So, tell me, what's wrong with this house? I'm selling my house.
>> That's 350k. Pretty simple, dude. 1,000 sq ft, two bedroom. I'll rent it for a grand. But that's the problem with a lot of the with a lot of these things because like I Okay, so I own a town home that was purchased before 2020. So it's relatively like the mortgage is cheap. Well, kind of cheap. 1,700 bucks with HOA, right? Three bedroom, lake view. Okay? Pretty good deal. So if I were to rent that out, I could actually make a profit. But what I want to know is what's their mortgage on it? Cuz I was going to say just make it a rental, but who wants to pay over a thousand bucks a month for this place? What are they going to pay? 1,500? That's probably their mortgage. So that's kind of the stronghold. And I don't know if these people realize or not. You can't sell this because nobody wants it. Now, I don't want to be insulting and say, "Hey, you know, sell it for 150 grand." They can't. They'll lose money. At least I'm I'm willing to bet. This one goes, "Because you're asking 350k for a house with an unfurnished yard plus one F and bathroom only 1,000 sq ft." Starter homes aren't 350k. Dude, 350k? Are you kidding me? Like who's going to buy that? I could see 150k. You go, "Yeah. Yeah, it'd be a good investment. You know, we'll live there and then we turn it into a rental property." But that's the thing, dude. A lot of a lot of people, and it's not their fault, they get into these houses and it's like they can't even rent them. They can't even be a landlord. They like that's the that's the I hate to say it, but that's the shitty part. I'm a realtor. The reason any house doesn't sell is the It's a 1,000 square foot one bedroom, no landscaping. It's too high. What about it is whimsical? Took me 3 minutes on Zillow in that area to be able to tell you that the other two bed one bath 1,000 square foot homes are going for 230k. So, you're about an you're you're 100k overpriced. I would honestly say she's about 200k overpriced. That's a 185k house, max 200. You know what the good news is though? For a lot of us, it's bad news for a lot of them. A lot of people are going to get stuck with the bill. They going to eat lose some cash. But the good news for people who want one but are waiting is the prices will eventually have to go down. Like we're about to get a new like we're renting this place and then we're and then we're renting out our other townhome that we own. Right? So, because buying doesn't make any sense to me right now. It just doesn't, right? I'll just rent. I'll just pay absurd obscene rent prices versus buying and paying obscene mortgage prices. Um but the cool news is is those of us who are waiting out for it, eventually they're going to have to go lower. And like for instance, we're breaking our lease on this place cuz our landlords just suck or the management company sucks. I don't know the landlords. I haven't talked to them. But dude, there are places that have been up for so long for rent that we're shooting them like let's say they let's say they want 3,300. We're going to give you 2,500. And and a few of them came back and they're like, "Yeah, 2,500 sounds fair." It's like dude, we just talked you down 800 bucks. I know that only seems like 800 bucks. But that that's in the rental market. So, imagine with the buying market. You go see some of these houses they're trying to get 350k. Eventually, you they're going to get so desperate you can go, "Yeah, I'll give you 200." Like eventually, if they want to sell it and a lot of people can't afford to just keep it. They're not going to make any money by renting it out. So, you know, I'm not mad about I feel bad for people. I really do. People who kind of got stuck in it. I really do, but I don't feel bad for people who bought thinking, "Hey, I only bought this for 175. I'm going to sell it for four." I don't feel bad for you. I don't feel bad for you. You missed the gold rush, man. Not to say it'll never happen again, but like I don't feel bad for those people. Trying to make that kind of a profit profit, like I wish you all the best. Get your money, but no.
>> Well, it doesn't really look like we are going to be moving out of Florida anytime soon. We've had our house on the market for 61 days. It is now July 1st. If we don't sell our house or get an offer in by July 18th, we will be taking the house off the market. I am beyond frustrated. I could say a lot about the whole situation, but I'm going to keep it pretty brief. It's been a tough market. The market is saturated here in Florida. There's tons of houses. Tons of houses up for sale, and they continue to build. We get There's a lot of people that are trying to move to Florida, and they want new construction. Let me tell you, if you're moving to Florida and you're looking at new construction, just do your research. I've seen how quickly they put up these houses. And I question the craftsmanship of each and every single one of them. I've been a concrete block home.
>> She's Now she's trying to like reverse psychology on you. You want one of those houses and not my houses? Do your research first. Come look at my house first. Feel these walls. Touch them. Yeah, touch them. Click that. Concrete. Yeah, you know what that is? Place across the street, shoe box, cardboard, crap. You got to whip out all the stops, man.
>> It's been here since 1998. It has never flooded. Those are things that you want to look for when you're looking at a home in Florida. If you're also if you're looking for a home and you're in and you're interested in a two-bedroom, two-bath in St. Augustine, Florida, that's only 10 minutes to the beach. Yes, I'm in an HOA, but it is a very low HOA and it's a very lenient HOA. Let me know. It's a nice home. It isn't it is a move-in ready home. Yes, the kitchen is not updated in nor is it aesthetically pleasing. However, it is functional. It works. AC
>> So, do you want to pay overpriced for something you don't even really want? How's that sound? You should touch the walls. Did you see the structure? Did you?
>> [cough]
>> It was like the town home I that we have, I wouldn't dare rent that thing for more than 2,500 a month. I wouldn't dare. The lake view. Wouldn't dare. Same unit next door. They were charging three grand a month. And you know what? It's been empty. It's been empty. No one lives there. Because nobody in their right mind is going to live there for three grand a month. Now, temporary, doing Airbnb, something of that nature, sure, you're going to rent it out. If you're doing short-term rentals, little month rental during season with the snowbirds, absolutely. You get three, four grand, no problem. But a long-term, regular people rental, no one's renting it for that price. And that's a three-bedroom in Florida with a lake view and high ceilings. So, I wonder what the hell she wants for a two-bedroom with a non-aesthetically-pleasing bathroom and no lake view. Two bedrooms. This is the major issue here. You notice this two-bedroom thing? See, either it's two-bedroom or it's six-bedrooms. Can't sell them. I get it. I'm not going to pay over the moon for a two-bedroom with attached and I don't even like cuz it's got firm concrete walls. You're out You're crazy. You're out of your mind.
>> It is very new. Our garage has AC in it. Overall, yes, it's a small home, but it's a nice home. And we get we have been getting some offers, but they're very lowball. They're actually insulting. We bought this house 3 years ago actually on the dot, and we bought it for a lot more than what it was probably worth. We were in a dire situation where we were moving We were moving down from New York, and we didn't have jobs. So, we did a owner financing deal. We had a good chunk of money down, which in that we won't probably be getting anywhere near back. The goal is to not owe money at closing. And so, we're little stuck as to how flexible we can be on the the sale price.
>> And that's the problem. Remember what I said earlier? Probably couldn't even rent it to break even. Even Steven. But I think a lot of people don't want to make the same mistake you you guys made. Overpaying. Overpriced. Firm concrete. I almost don't even want to hear her out. You know, hear her out.
>> But the house that is listed is the lowest that we can actually go at this point. And we have pretty much half of our house in a storage unit and thought of having to go get that stuff out of the storage unit is so discouraging. If you're planning to move to Florida, I highly highly suggest renting. And no, we will not be renting this home. We will not. The goal is to sell it. I am not bringing people in here to ruin it. Also, it'd be very hard to manage a thousand miles away and no, I am not paying a property management company to manage our property. No. We pretty much would pay somebody to live here and I that's not that's not
>> It doesn't make any sense. Doesn't make any sense.
>> My house is
>> What about this woman? I wonder I wonder Where the hell does she live? Four showings in 95 days that usually means it's insanely overpriced. Is it in a flood zone? Is it 5 ft from a busy road? Is it in the middle of nowhere is what I want to know. 400 grand, six bedrooms? It's got to be in like Arkansas, something like that. No offense, but you know what I mean. Alabama. Um Put a statue of St. Joseph in the front yard. No, okay. But also, where does she live? No showings equals price, period, the end. I'll die on that hill. I'm actually not mad about it. Um I'm not mad about it cuz I do own I do own a property. And I would never have the audacity never never to charge some of these prices people are charging. Ever and ever. Never. And I've wanted a new place. We've just We moved out. We wanted to rent something new. We wanted something new. It just made more sense to rent. Cuz it's just too it's too too costly. I'm good. I'm good. No, I don't care about the concrete. The structure's fine. I don't want to live there. Not for that price. So, I'm not mad about it. And I hope prices go down drastically. I really do. Not for your bottom line, but for most people who don't have a house. You know, or I mean I have a house, but you want you want to buy something. I'll look forward to it. Cuz I'll be there waiting. I don't care if it takes two, three, four more years. I'll be here waiting. I'll be waiting. The same house that they want 350 for. When it's back down to two. I'll be waiting. Like that. Anyways, hell of a talk. I wish them all the best. And I do feel bad for people, right? Like people who got shafted and bought in I don't want to say blindly or they should have known better, but bought in and didn't realize that even if they wanted to rent it later down the road. There's no money there. We'll be going negative. Like imagine buying at the peak of the market. I'm serious. Imagine buying Bitcoin at 120 grand. Now it's worth 60. Now do that with a house. Much drastic. Way more drastic. Do that with a house. You paid 400 grand for a house. Now you can't even get three for it. I feel bad for those people. I really do. But I think a lot of us, at least for the time being we learned your from your mistakes. We're good. And right now rental rental season's great, guys. You could talk people down, dude. They'll do it. We're doing it right now. We're pitching to some other places to live in. We're shooting them low. Like eh. 500 off. 800 off. Yeah. Oh, yeah. Dude, some of these places are getting desperate, especially in Florida. Forget it. So many places for rent. It's disgusting. It's a take a pick of the litter. Hell of a talk. Get the hell out of here.