Are Real Estate Prices Starting to Fall due to the Crisis?

290320 Like and subscribe. This is an archive, check the link in the end if you are owner. Yikes, the outbreak is starting to have an affect on real estate. Here's how bad. NEW 40% off Coupon code ImNotLeaving 🔥🔥🔥 Lifetime access to programs on building your wealth & new updates in stocks, real estate, management, sales, or Youtube. https://metkevin.com/join Want deals off market / before they hit the MLS? Checkout https://metkevin.com/deals for DealMachine!

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⚠️⚠️⚠️The Real Estate Crisis⚠️⚠️⚠️⚠️
Will real estate prices fall due to the crisis? Well, let’s look at the data. The LaTimes has found anecdotal evidence of transactions cancelling and deals bombing, however the data tells a different story. Year over year, real estate prices throughout different counties are modestly up (3-5%). From February to March 2020, we also saw a substantial month-over-month increase in real estate prices, with significantly fewer sales and lower days on the market. This looks very, very good. However, the trend isn’t all good. In certain counties, we began to notice declines when we looked at the last 2 weeks of March, which that decline could continue to grow mostly because real estate usually tales 30-60 days to close, so these price may be reflective of February data. March is however where we saw substantial falls in the stock market, which absolutely affect the real estate market as many investors or buyers keep their down payment in stocks.

The crisis is however slamming rental prices especially as AirBnB hosts dump real estate onto the market. Certain mortgages are also getting frozen and we're starting to see credit lines get frozen and non-QM loans & jumbo loans get cancelled.

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🚧🚧🚧🚧DISCLAIMER🚧🚧🚧🚧
❎I am not a CPA, attorney, insurance, or financial advisor and the information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, electrical or financial advice. IF stocks or companies are mentioned, Kevin MAY have an ownership interest in them -- DO NOT make buying or selling decisions based on Kevin's videos. If you need ANY professional advice, please contact a qualified CPA, attorney, insurance agent, contractor/electrician/engineer/etc. financial advisor or the appropriate professional for the subject you would like help with. Linked items may create a financial benefit for Meet Kevin®. Any use of other media is by fair-use only. The Paffrath Organization is a licensed real estate brokerage doing business as Meet Kevin® in California under DRE #02032575.

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