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Pending Homes Sales IMPLODE | Underwater Owners FLOOD The Rental Market to Avoid Losses

Ben Grieco

37,863 views

National home sales numbers are looking absolutely terrible compared the the previous decades as price declines continue across many areas of the county. While Southwest Florida has had a surpassingly strong sales year, are there signs that the run is coming to an end?

Meanwhile, underwater homeowners debate renting it out at a loss or ripping off the band aid and selling well under what they paid.

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#floridarealestate #swflrealestate #realestateupdate #puntagorda #sarasotarealestate #swfl #northportfl #swflrealtor
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DISCLAIMER: This Youtube channel is intended for entertainment purposes only. The owner of this channel Ben Grieco, makes no representations as to the accuracy of any information on this site, contained within the video, or available in comments. Ben Grieco is not a licensed financial advisor and the views represented are not financial advice nor legal advice. Please consult a financial or legal professional before investing. The information on this channel does not substitute consultations with local real estate agents, mortgage brokers, insurance brokers, financial advisors, and/or lawyers. The information provided is subject to change. The use of the internet and digital methods for communications with Ben Grieco such as e-mails does not establish a formal business relationship.

20 Comments

@lk29392 1 day ago

Rest In Peace Southwest Florida housing market.

@candyman301 1 day ago

185 k house in florida were selling for 650k.
Its sick

@johncook3758 1 day ago

Ben, never met you in person, but feel like i know you from watching all your videos. You're one of the few real estate agents i would trust.

@itslanded 1 day ago

A million dollar house is probably worth 350,000, 1980's prices.

@tenmike 1 day ago

I’ve learned a lot from this guy.

@PianoMatronNeeNee 1 day ago

Holy moly 😳 and now the interest rates are going higher! Thanks Ben

@zippezip2 1 day ago

I live in Western NY and my neighbor had the smallest 3 BR Ranch on the street at 1188 Square feet, I live in a split next door and it is 1860 sq. feet, and on the other side is a double his ranch. He listed it for $180,000 but when that was offered he said he would only take 200,000. WTF is that all about?

@stephendefilippo6584 1 day ago

The housing market shit on itself. Let them enjoy it.

@rubygreta1 1 day ago

In the northeast they're down because of no inventory.

@joho0 1 day ago

The market became hugely overvalued during the post-pandemic years. prices were already overvalued beforehand, but they skyrocketed another 10-20% post-lockdown. when you do a historical analysis of Florida home prices over the last 40 years and correct for the bubbles, prices are currently about 20-30% above where the statistical mean suggests they should be. what's interesting is gold saw a runup during the same timeframe, although prices have eased recently. this would indicate inflationary pressure was the main cause for the run up in prices, and inflation is the same reason sales are plummeting, and mortgage rates remain high.

What this all means is that we're still in a price bubble and until inflation eases and rates come down, demand will remain soft and prices will continue to fall.

@Unsub-h1d 1 day ago (edited)

Minnesota home sales are up and have been steadily well above average vs most states.

Explain that because I have no clue.

I sold my south Minneapolis home in 2019 for triple what I paid, although the remodeling over 22 years made it more like double.

I had such a hard time buying the type of property I wanted, rural up to 100 acres and as little incorporation from government as possible. I was bidding at 425-550k, or should say I wasn't. I stopped around 450 in most cases.

After 5 years of living with my daughter(she loved it) and a rental for 3 of those years, and totally failing at finding a decent property with an existing dwelling, I just decided to buy land and found property within a few weeks. Bought about 3 months into the search. I had some building materials already and found most of them priced below national costs, and locally for not having a neighbor within 1.2 miles.

Real estate is so interesting and frustrating.

@fareshajjar1208 1 day ago

Lower prices, sell houses.

@joeb1597 1 day ago

Good content since Florida and Texas lead the market direction usually. I'm positioning to possibly purchase in Carolina in the Spring or Summer but as interest rates go higher, my purchase power is dropping. The small area we are looking at the sellers are finally seeing nothing is moving at their prices above the peak. They are delisting till the Spring or starting to cut. Thing is they are slow to react. Prices can still be twice that of renting, if the gap gets fairly close then the market and sales will pick up in a more balanced market. This is a 2nd home so I can wait.

@wespotter6985 1 day ago

Most realtors are lazy. They put all the legwork on the seller. Get the listng is the only thing tgey care about. I think realtors will go away. Let real estate lawyers handle everything.

@thomasperina2990 21 hours ago (edited)

Hello Ben & FRIENDS Of This Channel: Thank you sir for this real estate update video. If I am not mistaken isn't this a wrap up of some of your August walk about video's. I'm not trying to be disrespectful but this exactly what you + your data has been saying all along. When it's in this format it's more in your face but you have always been most eloquent with all your numbers & opinions + as far as I can tell been spot on. Since growing up here in N.J. you must come to the realization that people hear what they want & then convolute the information to there needs. In your previous video with that nice 8 car garage + house how is that in an HOA ???? IT'S beautiful but how much abuse does this poor person thave to take ??? God BLESS you, your Mrs, crew, & your marvelous sidekick son ❤️ 🙏 💙. TMP FROM NJ.

@Michael-qy1jz 1 day ago

RENTS wil continue to DECLINE this next 2 years or more, espevially in SW Florida.

@Michael-qy1jz 1 day ago

Slowest Mortgage Applications since 1995!!! Who expected this Lie of a MASS STIMULUS economy to go on forever?? Lol. Peiple have only seen the begining of this doward slide!

@jimfralin7501 1 day ago

You have good local content Ben. I would not exclude duplex, quadplex, or condo from the SFH numbers though. I would also include single and double wide if it were me. They are all relevant to residential for sale. IMO. ✌️

@jonathantaylor6926 1 day ago

What happens when low supply collides with even lower demand? We're going to find out. I say pay no attention to "active inventory" that is a totally useless number. The number that matters is "Months Supply".