A report from CTV News in Canada. "Ari Newman has called Vancouver’s Strathcona neighbourhood home…
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The first 6 minute K-da video:
Careful Of False Advertising In The Upcoming Months
Jul 11, 2022 A very small percentage of real estate agents running deceiving ads showing the market is not all that bad. Do your own research. When in doubt follow the stats.
The 2nd 7 minute video:
Should I Sell My Home Now or Wait?
Jul 12, 2022 Are you wondering if you should sell your house before housing prices crash? Should you sell your home now or wait? What do you need to consider when selling your house in this shifting market? When is the best time to sell a house?…Ocala, Florida
The 6 minute Seattle video:
The market popped! But don’t buy into the media fear…
12 views Jul 11, 2022
The last video is 10 minutes:
Denver Colorado Real Estate Market Update July 2022
32 views Jul 11, 2022
Denver Colorado Real Estate Market Update July 2022. The real estate market is shifting, homes are sitting for longer, sellers seem to be getting a little desperate, and buyers are getting pickier. Make sure you know what the Denver Metro real estate market is doing before you jump in to it head first!
BTW the Seattle Eastside is taking a 200k a$$ pounding. We learned of this weakness in videos here the past few weeks.
‘Eugene Wang, a building services assistant in Toronto, bought ethereum and a few other alternatives to bitcoin. Since the crash, he has tried not to think about his crypto investments. “I had made peace with the risk involved,” he said.’
‘While Mr. Wang doesn’t plan on buying more crypto any time soon, he’s not going to cash out either. “It would be nice if the prices get to a point where I can maybe break even.”
‘Users posted skeptical reactions to an article on the r/cryptocurrency message board about claims the worst of the crash was already over. Among the responses, user Dogchap said, “Just when someone says the worst is over in the financial market, assume the opposite.”
‘According to the user PENGUINSflyGOOD, there are no certainties when it comes to crypto, an experimental, relatively new asset class. “Being able to accept it all going to 0 is part of investing in it,” they wrote on a thread entitled “Please help me understand your certainty in crypto’s future.”
‘For those crypto investors considering buying the dip, the critical thing they need to understand is that crypto is a very high-risk asset class and that there’s no such thing as a risk-free return, said Ryan Clements, a fintech expert at the University of Calgary.’
‘Furthermore, there’s no guarantee that crypto prices will recover. “Coins that purport to be “stable” can (and do) fail, and we have now clearly seen this in the case of Terra,” Dr. Clements said.’
‘Following reports that it might cut as many as 700 employees, Rivian’s CEO R.J. Scaringe has addressed the cuts with employees, confirming the cuts, according to a letter shared with Carscoops.’
With interest rates on the rise, the Phoenix housing market is starting to cool down. According to one financial expert, now is the time to buy if you can afford it.
‘Gopuff is slashing 10% of its global workforce and closing dozens of warehouses, reining in spending amid signs the delivery company expanded too quickly during the pandemic.’
‘The job reductions will affect about 1,500 staff members, a mix of corporate and warehouse employees in the U.S., according to a memo to investors viewed by Bloomberg. It’s the second time in four months that the embattled startup has eliminated positions. It cut about 3% of jobs in March and shelved plans to go public.’
‘Gopuff also intends to shutter 76 warehouses, roughly 12% of its network, across the U.S. to consolidate its footprint in some cities, according to the memo. The measures reflect a sharp reversal for the fast-growing startup, which had prioritized expanding at breakneck speed with moves such as its 2020 acquisition of the California liquor store chain BevMo.’
‘Gopuff was valued at $15 billion last July and generated slightly less than $2 billion in revenue in 2021, with order volume jumping 70% compared with 2020. That increase, however, has come at a cost. A key contributor to Gopuff’s spending is establishing new warehouses. Each location costs an estimated $250,000 to launch, people familiar with the company’s plans said, and about half of Gopuff’s roughly 600 warehouses were launched in the last year. The efforts to streamline expenses represent an acknowledgment that the company, emboldened by the pandemic-fueled boom in delivery, expanded too much, too quickly.’
‘Here are some examples, followed by a breakdown by neighborhood, of recent price cuts on homes, condos, apartments and other Eastside properties. Highland Park Craftsman: $74,000 off 4-bedroom home with 2 bathrooms, a den, and fruit trees. Property is in need of updating and floor replacement. Now asking $1,225,000.’
‘Silver Lake bungalow: $100,000 cut on 2 bedrooms, 2 bathrooms, an updated kitchen, a laundry room, and rear yard with plenty of trees. Now asking $1,150,000.’
‘Eagle Rock Traditional: $150,000 chop on probate sale home that includes 3 bedrooms, 3 bathrooms, a fireplace in living room, a laundry room, and a 2 car garage. Home is in need of repairs. Now asking $1,150,000.’
A bungalow is $1M plus, but no RE bubble? Fundamentals!
I looked up my childhood home in Orange County, CA. My dad paid $20K for it in the early 60’s and sold it in 1970 for about $4K more than he paid for it, which was supposed to have been awesome appreciation for 7 years back then. Per zillow its zestimate is now almost $1.2M
Dang! My parents old house is a palace compared to that hovel.
Homesellers may be frowning, but homebuyers might have a little more bounce in their step, because 2.5 years of rising home prices may all be coming to an end. Is this a temporary pause, or does this mark the beginning of the market that buyers have been waiting for?
Here to discuss this is Denny Grimes with Denny Grimes and team at Keller Williams Realty. Watch the full video above.
Farm Bureau Mortgage Offers Members USDA Home Loans for a Little as 0% Down
“USDA encourages approved lenders to partner with low- and moderate-income families in eligible rural areas to make homeownership a reality. This in turn promotes prosperity, creates thriving communities and improves rural quality of life,” said Farm Bureau Mortgage President Dominick Deorio.’
Giving away 0% down mortgages does nothing to build prosperity and enhance communities. We saw and heard the same claptrap in 2004. Having a house, by itself, does nothing. Prosperity occurs and communities thrive when the citizens have the discipline, maturity and financial understanding to afford the house in the first place.
‘Nonbank lender loanDepot is making what appears to be the largest series of cuts in the mortgage industry this year, eliminating 4,800 jobs over the course of 2022.’
‘Overall, the California-based lender is implementing a program dubbed “Vision 2025” to save between $375 million and $400 million annualized, including headcount reduction, process optimizations, real estate consolidation and reduction in marketing and third-party spending.’
‘The company will go from 11,300 employees at the end of 2021 to 6,500 by the end of 2022, loanDepot said in a filing. The company reported a net loss of $91.3 million in the first quarter, compared to a net income of $14.7 million from the previous quarter. In 2021, loanDepot made $427.9 million in profit.’
The first 6 minute K-da video:
Careful Of False Advertising In The Upcoming Months
Jul 11, 2022 A very small percentage of real estate agents running deceiving ads showing the market is not all that bad. Do your own research. When in doubt follow the stats.
The 2nd 7 minute video:
Should I Sell My Home Now or Wait?
Jul 12, 2022 Are you wondering if you should sell your house before housing prices crash? Should you sell your home now or wait? What do you need to consider when selling your house in this shifting market? When is the best time to sell a house?…Ocala, Florida
The 6 minute Seattle video:
The market popped! But don’t buy into the media fear…
12 views Jul 11, 2022
The last video is 10 minutes:
Denver Colorado Real Estate Market Update July 2022
32 views Jul 11, 2022
Denver Colorado Real Estate Market Update July 2022. The real estate market is shifting, homes are sitting for longer, sellers seem to be getting a little desperate, and buyers are getting pickier. Make sure you know what the Denver Metro real estate market is doing before you jump in to it head first!
BTW the Seattle Eastside is taking a 200k a$$ pounding. We learned of this weakness in videos here the past few weeks.
https://betterdwelling.com/global-real-estate-bubble-is-now-more-overvalued-than-in-2006-us-federal-reserve/
‘Eugene Wang, a building services assistant in Toronto, bought ethereum and a few other alternatives to bitcoin. Since the crash, he has tried not to think about his crypto investments. “I had made peace with the risk involved,” he said.’
‘While Mr. Wang doesn’t plan on buying more crypto any time soon, he’s not going to cash out either. “It would be nice if the prices get to a point where I can maybe break even.”
‘Users posted skeptical reactions to an article on the r/cryptocurrency message board about claims the worst of the crash was already over. Among the responses, user Dogchap said, “Just when someone says the worst is over in the financial market, assume the opposite.”
‘According to the user PENGUINSflyGOOD, there are no certainties when it comes to crypto, an experimental, relatively new asset class. “Being able to accept it all going to 0 is part of investing in it,” they wrote on a thread entitled “Please help me understand your certainty in crypto’s future.”
‘For those crypto investors considering buying the dip, the critical thing they need to understand is that crypto is a very high-risk asset class and that there’s no such thing as a risk-free return, said Ryan Clements, a fintech expert at the University of Calgary.’
‘Furthermore, there’s no guarantee that crypto prices will recover. “Coins that purport to be “stable” can (and do) fail, and we have now clearly seen this in the case of Terra,” Dr. Clements said.’
https://www.theglobeandmail.com/investing/personal-finance/household-finances/article-crypto-market-crash-investing/
LA UHS video:
https://www.nbcnews.com/now/video/real-estate-broker-fredrik-eklund-examines-housing-market-slowdown-143941189522
‘Following reports that it might cut as many as 700 employees, Rivian’s CEO R.J. Scaringe has addressed the cuts with employees, confirming the cuts, according to a letter shared with Carscoops.’
https://www.carscoops.com/2022/07/rivian-ceo-confirms-job-cuts-in-letter-to-employees/
AZ video:
With interest rates on the rise, the Phoenix housing market is starting to cool down. According to one financial expert, now is the time to buy if you can afford it.
https://www.12news.com/video/news/local/valley/experts-give-advice-to-first-time-home-buyers-in-the-valley/75-e3b6795c-d50f-4b00-884b-88bc73e51423
‘Gopuff is slashing 10% of its global workforce and closing dozens of warehouses, reining in spending amid signs the delivery company expanded too quickly during the pandemic.’
‘The job reductions will affect about 1,500 staff members, a mix of corporate and warehouse employees in the U.S., according to a memo to investors viewed by Bloomberg. It’s the second time in four months that the embattled startup has eliminated positions. It cut about 3% of jobs in March and shelved plans to go public.’
‘Gopuff also intends to shutter 76 warehouses, roughly 12% of its network, across the U.S. to consolidate its footprint in some cities, according to the memo. The measures reflect a sharp reversal for the fast-growing startup, which had prioritized expanding at breakneck speed with moves such as its 2020 acquisition of the California liquor store chain BevMo.’
‘Gopuff was valued at $15 billion last July and generated slightly less than $2 billion in revenue in 2021, with order volume jumping 70% compared with 2020. That increase, however, has come at a cost. A key contributor to Gopuff’s spending is establishing new warehouses. Each location costs an estimated $250,000 to launch, people familiar with the company’s plans said, and about half of Gopuff’s roughly 600 warehouses were launched in the last year. The efforts to streamline expenses represent an acknowledgment that the company, emboldened by the pandemic-fueled boom in delivery, expanded too much, too quickly.’
https://www.latimes.com/business/story/2022-07-12/delivery-startup-gopuff-cuts-10-of-staff-closes-warehouses-to-preserve-cash
‘Here are some examples, followed by a breakdown by neighborhood, of recent price cuts on homes, condos, apartments and other Eastside properties. Highland Park Craftsman: $74,000 off 4-bedroom home with 2 bathrooms, a den, and fruit trees. Property is in need of updating and floor replacement. Now asking $1,225,000.’
‘Silver Lake bungalow: $100,000 cut on 2 bedrooms, 2 bathrooms, an updated kitchen, a laundry room, and rear yard with plenty of trees. Now asking $1,150,000.’
‘Eagle Rock Traditional: $150,000 chop on probate sale home that includes 3 bedrooms, 3 bathrooms, a fireplace in living room, a laundry room, and a 2 car garage. Home is in need of repairs. Now asking $1,150,000.’
‘More price cuts by neighborhood’
https://www.theeastsiderla.com/real_estate/real_estate_reductions/74k-off-highland-park-craftsman-100k-cut-on-silver-lake-bungalow-and-150k-chop-on/article_b5b48130-fbd6-11ec-80c7-ef625c3632a1.html
A bungalow is $1M plus, but no RE bubble? Fundamentals!
I looked up my childhood home in Orange County, CA. My dad paid $20K for it in the early 60’s and sold it in 1970 for about $4K more than he paid for it, which was supposed to have been awesome appreciation for 7 years back then. Per zillow its zestimate is now almost $1.2M
Yikes! This is what it looks like: https://www.redfin.com/CA/Los-Angeles/5602-Irvington-Pl-90042/home/7083031
Yikes! This is what it looks like:
Dang! My parents old house is a palace compared to that hovel.
Homesellers may be frowning, but homebuyers might have a little more bounce in their step, because 2.5 years of rising home prices may all be coming to an end. Is this a temporary pause, or does this mark the beginning of the market that buyers have been waiting for?
Here to discuss this is Denny Grimes with Denny Grimes and team at Keller Williams Realty. Watch the full video above.
https://www.winknews.com/2022/07/12/denny-grimes-has-the-housing-market-peaked/
Prices falling in Lee, Collier counties.
Farm Bureau Mortgage Offers Members USDA Home Loans for a Little as 0% Down
“USDA encourages approved lenders to partner with low- and moderate-income families in eligible rural areas to make homeownership a reality. This in turn promotes prosperity, creates thriving communities and improves rural quality of life,” said Farm Bureau Mortgage President Dominick Deorio.’
https://www.fb.org/news/farm-bureau-mortgage-offers-members-usda-home-loans-for-as-little-as-0-down
0% down. Yeah, that shouldn’t lead to any foreclosures. In some famous words here. “that’s some sound lending”
Considering 90%+ of all mortgages since 2011 are subprime, this is just more of the same.
Winter Park, FL Housing Prices Crater 14% YOY As The Bottom Drops Out Of US Housing Market
https://www.movoto.com/winter-park-fl/market-trends/
Giving away 0% down mortgages does nothing to build prosperity and enhance communities. We saw and heard the same claptrap in 2004. Having a house, by itself, does nothing. Prosperity occurs and communities thrive when the citizens have the discipline, maturity and financial understanding to afford the house in the first place.
‘Nonbank lender loanDepot is making what appears to be the largest series of cuts in the mortgage industry this year, eliminating 4,800 jobs over the course of 2022.’
‘Overall, the California-based lender is implementing a program dubbed “Vision 2025” to save between $375 million and $400 million annualized, including headcount reduction, process optimizations, real estate consolidation and reduction in marketing and third-party spending.’
‘The company will go from 11,300 employees at the end of 2021 to 6,500 by the end of 2022, loanDepot said in a filing. The company reported a net loss of $91.3 million in the first quarter, compared to a net income of $14.7 million from the previous quarter. In 2021, loanDepot made $427.9 million in profit.’
https://www.housingwire.com/articles/struggling-loandepot-to-cut-nearly-5000-jobs-in-2022/
“The company will go from 11,300 employees at the end of 2021 to 6,500 by the end of 2022,” loanDepot said in a filing
Oh no, what will I tell my wife?