Podcast

Ep 48- Bubble Home Buying: What First-Time Homebuyers Need To Know

HBH 48 | Bubble Home Buying

What scares first-time homebuyers more than a housing bubble? Buying a home could be the largest financial transaction you’ll ever make in your life. That’s why you need to have a strong understanding of bubble home buying. In this fact-filled episode, David Sidoni presents figures and data you need to know to make an informed decision. Tune in and learn from the smartest minds in economics. So YOU can navigate your financial future with ease. Listen to this episode before buying!

Bubble Home Buying: What First-Time Homebuyers Need To Know

Almost A Part 2 To Episode 47 On “Is This A Housing Bubble,” But With Some New Twists And Tips

“Should you wait until things calm down before you buy?” I’m hearing that a lot these days. How do you time the market to buy your home if you think a bubble is coming? I know we just did a whole episode on the bubble, but now we’ll see what happens if you wait to buy.

This is a blog post, and yes, blog posts last forever. If you’re reading this in the future, cool, you’re getting some more research. If you’re a loyal subscriber, you must be thinking, “We just did a whole hour on the housing bubble. What else could you possibly need to tell us?” Here’s what we’re going to cover because there’s more bubble stuff. Then we’re going to talk about should you wait to buy? First, we’re going to give you some more bubble opinions from economists to debate the arguments that your pessimistic friends and family are making about the bubble, if you didn’t get enough last time. We’re going to give you some good news on new construction, some more information about the bidding wars happening on the homes and how that affects today’s market. Then we’re going to talk about the cost of waiting this market out. Finally, we’ll talk about rising rent prices and what’s next for you and your housing sitch. If you’re scared, confused, you don’t have a clue where to start, I know it’s not sexy, but this is the data. Knowledge is power. There’s a lot of data. Here’s the good thing. I’m not trying to push you, not trying to sell you. I’m not trying to get you to take my seminar by a book. This is a labor of love for me. It’s seeking to educate first-time buyers to make sound, researched and informed decisions. I want you guys to learn from my mistake because I totally blew it in my 20s when I rented for way too long, and even into my 30s. This is my show, and it’s my way of giving back. Take a little bit of time and do the research. This decision is a big one. It’s going to affect how you spend your housing, your rent or mortgage money because you pay it every month anyway, so you’re going to be thinking about how to do that for the next 2 to 5 years. I get it. I’m not as entertaining as a TikTok video, but how about that now, you substitute some of your scroll time and you read here and get some facts and figures that I’ve gathered, so you can figure out the best way for you to spend your money. What is that? $15,000, $20,000, $30,000, $40,000 a year on rent. The question whether the real estate market is a bubble is a hot topic in the summer of 2021, and everybody has an opinion. Here are four more opinions, except these are coming from professionals and organizations that have devoted their entire career to giving great advice, and that’s for people specifically asking about the housing industry. Knowledge is power. It takes more than short research to figure out what's best for you. Click To Tweet First one comes from the Joint Center for Housing Studies. It’s right there in the name. This is in their State of the Nation Housing 2021 report, “Conditions now are quite different than in the early 2000s, particularly in the terms of credit availability. The current climate house prices instead reflect strong demand amid tight supply, helped along by record low interest rates.” Next up is Nathaniel Karp. He’s the Chief US Economist at BBVA. BBVA is a big, old international bank. Nathaniel says, “The housing market is in line with fundamentals. As interest rates are attractive and incomes are high due to the fiscal stimulus, making debt servicing relatively affordable and allowing buyers to qualify for larger mortgages, underwriting standards are still strong. There is little risk of a bubble developing.” Underwriting, that’s the bank word. That’s the word for taking a microscope and putting it all over your finances, then they figure out if they decide if they want to give you a loan. He said the standards are still strong, and that means they’re still checking way into you and your finances, not giving the loans to any yahoo. Those of you who read the last episode, I’m still old and I still say yahoo. This is huge data, deflating the idea of bubble popping. Since the last bubbles helium, that was a ton of yahoo buyers that should not have qualified for loans, getting loans and then buying houses, and then not being able to afford to keep them. That’s how bubble gets too big, and that’s how it bursts.

Demand Will Be High Because Millennials Need Houses

Next expert is Bill McBride of Calculated Risk. It’s right in the name again. The guy studies calculated risk, “It’s not clear at all to me that things are going to slow down significantly in the near future. In 2005, I had a strong sense the hot market would turn, and that when it did, things would get very ugly. Now, I don’t have that sense at all because all the fundamentals are there. Demand will be high for a while because Millennials need houses. Prices will keep rising for a while because inventory is so low.” We’ve got Mark Fleming, the Chief Economist at First American. He says, “Looking back at the bubble years, house prices exceeded house buying power in 2006 but now, house buying power is nearly twice as high as the median sale price nationally. Many find it hard to believe, but housing is actually undervalued in most markets. The gap between house buying power and the sales prices indicates there’s room for further house price growth in the next months to come.” In bubble episode number one, I told you about the low inventory, the number of homes for sale. Back in 2008, right before the crash, it was four times higher than the numbers of homes for sale that we have now. It’s way too many homes for sale to handle any kind of recession. We got one, and it was a big one. Now, not only do we have four times less homes for sale than before the last crash, but the number of homes that we’re at now, it’s actually only about 1/3 the number of homes for sale in a normal market. That means two things. Number one, more homes for sale coming on the market is only going to normalize the market, not burst the market. Number two, we need more homes for sale. Here’s the data on homes being built. Despite all the buzz that you hear about the soaring cost of lumber and materials, it’s true. It’s making things more expensive, but the home building industry has not folded up shop. Government numbers show a steady increase in construction and their construction spending over the last quarter and a half. This is from the US Commerce Department that says, “Private spending on single-family home construction is up 26.7% from 2020, while private multifamily construction spending is up 14.6%.” That means we’re going to get some more homes out there. A lot of economic nerds look at these numbers and say the builders are responding to the increased demand for housing, and that both single-family residences, as well as denser apartments and condo residences are going to be popping up. That’s good because we keep making more people and they want a place to live.

Bidding Wars

Next, let’s get into the bidding wars. There’s an old protest song about war and it goes like this, “War, what is it good for? Absolutely nothing. Say it again, war.” If you’re cringing, remember, the fact that I’m old enough to know that song means that I have experience in the market history because I am super old. I tend to see things from a broader perspective. I don’t want you guys throwing your money away like I did in my twenties. I lost hundreds of thousands that you don’t have to, but you do occasionally have to listen to me sing songs, very old songs. I love the ‘80s too and I love Rick Springfield, so you’re in trouble because that medley is coming someday. Bidding wars are usually good for sellers, but some buyers are actually starting to get sick of them, and that could be good for you. If you believe in the numbers, and you have the strength to get back in there and fight the good fight, then stick to it. Some home buyers are reportedly backing out of their purchase contracts due to second guessing of their contract price. They’re listening to their negative aunt telling them they overpaid, instead of looking at the data and doing the math. Great, let them bail.
HBH 48 | Bubble Home Buying.
Bubble Home Buying.: Demand will be high for a while because millennials need houses.
Some people see this headline and they say, “Buyers are getting smart. They’re not overpaying. They’re bailing on their contracts.” Yeah, it’s true. The data says that some buyers are doing that, but many of them are acting out of fear and a lack of confidence because they didn’t do enough research in the first place. For you, decide that you want to do this, Ted Lasso style, believe. I don’t care if you disagree with everything that I say and you don’t believe. That’s cool. Keep reading to this show and if you’re right and the housing market crashes like a giant Jenga game in an outdoor bar with a bunch of drunk hipsters drinking craft beer, cool. Then I’m going to do a show on how to take advantage of the unprecedented bubble bursting that no reputable economic forecaster saw coming. I’ll be the first in line to do that show so I can help people buy a house in that market. For now in this market, that fear unfounded is driving others to bail. It’s most of the time because that unfounded fear they don’t have enough information to combat it. They’re not confident in what they know or don’t know. Fear is the concern and worry of the unknown. Think about a horror movie. Would a horror movie be scary if you knew all the facts, if all the lights were on in the house and there was happy music playing instead of some freaky demonic soundtrack, and the dude with the chainsaw was right there in plain sight? Maybe that’s a bad example because a dude with a chainsaw is still scary. What if all the lights were on, there was happy music and the figure behind the curtain was actually a little girl holding kittens, or it was your barista with your favorite drink? See, that’s knowledge, lights on, looking at it for what it really is. It eliminates trepidation because you can see everything nice and clear, not the fear of what could be when you’re sitting in the dark. Let the others listen to the Negative Nancys, the Crazy Karens, the Pessimistic Petes in their lives. Here’s a fact, even if the value of the home stopped going up the minute that a buyer now got the keys, which it’s probably not going to, since they had to fight to get the home in a bidding war, and the losers of that bidding war still want a home while the interest rates are still low, so they’re going to go and put an offer on the next house, which is going to charge $5,000 more than the last one did. Fear is the concern and the worry of the unknown. Think about a horror movie. Would it be scary if you knew all the facts? Click To Tweet Let’s say even for some weird reason, it did stop. The value just quit right there. The math is still usually better for a renter to be in a home instead of paying a landlord because that home is theirs and becomes their asset, even if you’re in a breakeven or a flat year. That home we’re talking about comes back on the market because the other buyer bailed. Now, you step in after they bail because you didn’t listen to the haters around you. Even better, if you have a rockstar unicorn realtor, and you actually put an offer on that home and you’ve lost out, but your unicorn was super nice and professional to the people who rejected you after you didn’t get the house. They had nice correspondence and thank yous and all that. Maybe then when the seller realizes they have to resell the house, they start to realize, “I don’t want to have another bidding war.” Even better, the lazy listing agent, that realtor, they don’t want to have to deal with that all over again, so they go ahead and call your unicorn, “That guy or gal was nice.” Then you get the home instead of the home going back on the market. That happened twice for me.

Fiscal Goals

What’s the cost to you if you decide to wait it out? You heard all this stuff and you’re like, “I’m going to wait it out. I don’t want to deal with all this.” There’s no stock answer for this because I don’t know you and all your finances. Every single one of you is different with a different financial situation, and most importantly, different goals. Maybe waiting might be right for your life goals, I don’t know. Financially, there are some pretty simple things that you can look at. It doesn’t necessarily line up exactly with all your housing wants, needs and dreams, but looking at the numbers, Episode 40 goes pretty deep into that. You can read that. Here are some more stuff on that. Everyone knows that 2020 sucked, but that dip that happened was nowhere near the recession that we had after 2008, and that bubble burst. Here’s the thing, not all bubbles burst. Real estate in particular tends to rise in value much more easily than falls. Here’s some more data for you that you can intake on the cost of waiting. Lawrence Yun, the Lead Economist for the National Association of Realtors, we all know him. He’s been pretty accurate predicting the ups and downs of housing. I’m paraphrasing this because I just jotted it down from a webinar that he was doing. He said something like, “Can the market decline? Sure. Will it be a persistent decline? No. We have an army of frustrated buyers who have out been outbid and they’re waiting to pounce. Any declines will be met by hordes of buyers on their 2nd, 3rd or maybe even their 6th try. It might slow down, but the numbers say there is enough demand to slow and flatten. When it declines, it will be a decline slowly.”
HBH 48 | Bubble Home Buying
Bubble Home Buying: Average workers across the country can still manage the major expenses of owning a home-based on the lender standards.
It will decline slowly with buyers excited to get an affordable home without the massive competition. Folks are going to be stoked to get in on things later on. Here are some more facts and data for you. Fannie Mae released their Home Purchase Sentiment Index, HPSI. In the HPSI Survey, they showed an increasing number of Americans believe that now is a bad time to buy a home. The last time they did that survey, the numbers were much lower right now. That number of people think it’s a bad time, 64% in July 2021. That’s up from 56% last month. Last year, July 2020, 38%. What was going on back then? Right in the middle of the freaking pandemic, 38% of the people thought it was a bad time. Now, vaccines and semi opening up and life hopefully getting back to normal is 68% of people think it’s a bad time to buy. Fear is real, and people want to wait. Let’s talk about it. They want to wait, why? Because homes are more affordable, at least that’s what they think. What makes affordability? It’s your monthly payment. What makes that monthly payment? Price and mortgage interest rates. Let’s take a deep look at affordability. The first thing you’re going to see is headlines that are super scary. They’re going to say things like, “Mortgage rates sky rocket, record highs or mortgage monthly payments keep going up for buyers.” I hate to argue with that fear-mongering stuff, and the problem is I don’t because they’re right. Rates have gone up, but you want to know why? Because mortgage rates have increased from the lowest they’ve ever been in history. If it wasn’t January 2021, any mortgage rate is going to be higher than that because that’s the lowest it ever was at 2.65. Now we’re at 2.9, which is still an incredibly low rate. It is at 2.65, the lowest mortgage rate in the history of man, woman or undecided or undeclared kind. No, it’s not. Every headline can say that mortgage rates are going up because they just are. 2.9 is still sick. I know lots of lenders that got kissed on the mouth when they got an interest rate below 6%, 2.9, 3.2, you’re doing great. Over the past year 2020, why the payments go up? Because prices have gone up over the last year 2020. That’s what’s happened. Even if you take these rising factors into account, sure it’s less affordable now than it was a few months ago, but you weren’t ready. You didn’t have everything together. You didn’t do it for whatever reason. That doesn’t mean that it’s not affordable now. Nothing good in life is stress-free. Click To Tweet ATTOM Data released their Second Quarter 2021 US Home Affordability Report. What they do is they figure out where’s the affordability and they give a percentage to it, and that’s based on the average home ownership cost of a typical home with the average national wage. They had that originally at 22.2%, but it increased to 25.2% in the second quarter of 2021. It went up a little bit. They also mentioned that’s still within the 28% standards of wage versus cost that most lenders prefer for homeowners. That’s what the lenders think the homeowners should spend on their mortgage payments, their home insurance and their property taxes. The PITI that we always talk about. Average workers across the country can still manage the major expenses of owning a home based on lender standards. It’s 28%. It went up from 22% to 25%, but it’s still below what their standard is, which is 28%, which is crazy conservative. Things are going up a little bit, but it doesn’t mean that now is not affordable for you. Of course, you would have done better if you locked in before, but that’s just the way it goes. For those of you guys who did read the show and you did lock in before, and you did get a home with a relatively low interest rate and your price has gone up 20%. I have a question for you guys. Where the hell is my review? Come on. This show is free. Thanks to this show, you meet $30,000, $40,000, $60,000, $75,000. What about my friends, Rachel and Will? The ones I hooked up and pitching a unicorn realtor in the Bay Area. They closed on a $2.1 million home in the summer of 2020. I’m not a good mathematician, but a 20% increase of $2.1 million seems good. I think I need a little review. Payments have increased dramatically during that several decade’s span. If we adjust for inflation, mortgage payments now are 10.7% lower than they were in 1990. What does that mean for you? First of all, not everything in the ’90s was so incredible. As for housing, you might not get the home-buying deal that some of my audience got in 2020, who still owe me a review. That doesn’t mean you still shouldn’t buy a home. It’s 10.7% more affordable than it was in 1990. If you can buy a home but you don’t want to because you don’t believe it’s financially prudent, here’s what happens if this is your argument to it, “I’m going to rent instead. This is too stressful.” I get it. Renting is less stressful, but nothing in life is stress-free. Maybe some things are but not a lot of stuff, especially when it comes to finances.
HBH 48 | Bubble Home Buying
Bubble Home Buying: Mortgage rates will go up and be at 4.2% by the end of 2022.

Monthly Cost Of Rent Is Skyrocketing

The monthly cost of renting a home is skyrocketing. According to the July 2021 National Rent Report from Apartment List, “So far in 2021, rental prices have grown a staggering 9.2%. To put that in context, in previous years’ growth, from January to June, it’s usually 2% to 3%. After this month’s spike, rents have been pushed well above our expectations of where they would have been had the pandemic not disrupted the market.” If you continue to rent, chances are your rent is going to keep increasing in a fast-paced. That means you could end up spending significantly more of your income on your rental, and as time goes on, it’s going to be even harder for you to save for a home. If you say, “I’m going to wait it out,” because you heard me say in November of 2019 Episode 29 that recession is coming someday, you’re right. I did say that but history shows that the housing market doesn’t always go down in a recession. Let me drop some knowledge. Actually, what I’m going to do is I’m going to regurgitate some facts to you that I’m summarizing from the thousands of articles I read and the webinars. I research at home by myself because I’m a super interesting individual and I have a very fulfilling life. We’ve established that a monthly mortgage payment accounted by two things: price of the home and the mortgage rate. A lower monthly payment, which is what you want because that’s what you said, “I’m going to wait it out. I want to wait until the monthly payment is low.” That would require one of those two elements, price of the home or the mortgage rate to decrease over the next year or two. However, experts are forecasting the opposite. The Mortgage Bankers Association, the MBA, projects that mortgage rates will go up and be at 4.2% by the end of 2022. The Home Price Expectation Survey, which is a survey of over 100 economists, investment strategists, and housing market analysts, they call for home prices to increase to 5.12% in 2022. That’s the math, now let me put this in real life for you. The key is to do your homework and see how the purchase fits in with you, your personal goals, and your budget. Click To Tweet 10% down on a $350,000 home, that’s a $350,000 mortgage at 2.9%. This is a payment for principal and interest, just the PI and PITI for this equation. That payment is $1,311. Take the numbers in the forecasting that we had, same house next to you, a $350,000 house now costs $367,920, up $17,920. That means the price of the house is up. How about the loan? 10% down on that $367,920 house. Now, you’ve got to put $1,792, more dollars down. The mortgage amount is now $331,128. That’s up $16,128. Your mortgage rate is up to 4.2%, which means that has gone up 1.3%. Your payment is now $1,619. Remember it was $1,311. If you wait, your mortgage payment of $1,619 is up $308 every month for 30 years. That was a lot of numbers rambling in your ears. I’ve got a chart for you, visual learners and I’m going to post that on my Instagram. Let me summarize it. By waiting until 2022, if the forecast is correct, you’re going to potentially pay more for the home. You’re going to need a larger down payment, pay a higher mortgage interest rate, and pay an additional $3,696 every single year over the life of your mortgage. Did you realize that you missed out on possibly the best time to buy a home? Yes, you and 99% of everyone else. The real best time to buy a home, and 1% of the people did that, and it was February 2012. They bought on the very best time to buy a home. Everyone told them they were crazy and stupid back then. Good for them. Almost no one buys a home or stocks at the perfect time. You never buy at the bottom of the V or sell at the top of the V. You buy somewhere along the V. The key to do your homework, and see how the purchase fits in with you and your personal goals and your budget, not your realtors, your lenders and not your aunts. The universe said, “This is the time for you to start thinking about this.” A part of you gets that and understands that. That’s why you found this show. You sought out cringy, old me because you tolerate my annoying sense of humor, but you understand that I care about you and I will give you as much knowledge as I can. That’s what I do, I drop the knowledge.
HBH 48 | Bubble Home Buying
Bubble Home Buying: Since the pandemic started, rents are up 21.2%.
This is your time. This is when you’re here, love it or leave it. If you read the data, you do the math and consider your future, it’s not the best time for an individual or for a dollar amount to buy a house, but it might be the best time for you to buy a home and stop renting. It’s definitely the best time to start your plan. Planning doesn’t mean buying. Planning means planning. If you’re waiting for it to go down, it might cost you way more than it might save you. Episode 40 gets deeper into that math. Back to rising rates. It’s tough to save up for a home while you wait for the market to drop, especially when your monthly output is going up every single year. You might remember me saying that buying is cheaper than renting. I want to clarify and make sure everyone knows that sometimes, it is. Thats a great way for people to get excited about buying a house, but it’s not for everyone. Either way, you still could end up on a better financial future.

You Can Get A Mortgage Lower Than Your Rent

There is a stat that said that the monthly mortgage median is $1,200. The national rent median is $1,575. That looks great, it’s $371 lower the rent, but that’s the median stat. For some of you, it’s right. I had a hair dresser, 25 years old, in Vegas, they got a place and she ended up paying $100 less per month than her rent, but that might not be for you. It doesn’t mean that the mortgage equation in that price isn’t going to mean that you’re going to financially do better in the future. One of the reasons for that is the rising rents. I’m looking at a chart and I’m going to help you visualize it. Hold your phone vertically, take your finger, put it in the lower-left corner of your phone. Drag it up to the right corner of your phone. That’s a simulation of a chart that I’m looking up. Those are rents. Bottom left is 1988. Top right is now. If you want to see what the mortgage looks like from 1988 to now, put your finger at the bottom left corner again, drag it across the bottom of the phone to the bottom right corner. That’s the mortgage. It never changes. It never goes up. If you want to see how good the mortgage rates are today, how your phone back up again, put your finger on the middle of your phone on the far left, and that’s right where we are. That’s 11% interest and that’s 1988. Drag your finger down to the bottom right corner, that’s where the rates are today. Let’s put that in dollar terms. I’ll give you some data from the census. It doesn’t get any more boring than census stats. These are the average annual rental rates. In 1997, way back when Harrison Ford was a bad-ass president on Air Force One, and the internet was a new fad and no one thought it was going to stick, and the average rents were $425 a month. Owning homes is a safer financial bet for you. Click To Tweet In 2001, TV was dominated by FRIENDS and CSI. It was the only CSI on TV. There was a dot-com bubble and rents were $500. We had a little recession, then the rents went up to $600 a month by 2003. In 2008, Flo Rida and T-Pain were getting low, low, low, and rents were not low by $675 a month. Then that want to $700 through the recession of 2008. It stayed right there during the recession. During the pandemic, we got up to about $1,050 a month. Here we are in pandemic, $1,050 a month. “That’s cool, the landlords are going to give everyone a break. It’s a global crisis.” No. During the pandemic, rents jumped to $1,200 a month from $1,050. That’s an increase of 12% in one year. Consider that from 1997 to 2008, rents went up 58% over eleven years. During the pandemic, rents went up 12% and in 2021, they’ve gone up another 9.2%. That’s 21.2% since the pandemic in 2020. That means, from ‘97 to 2008, eleven years, we went up 58% through two recessions, a couple of years into this, we’re 21.2%, we’re still due for 37% increase over the next nine years. I don’t know if that’s going to work. Try to put the math together. That’s math, facts, data, this is not opinion. My math is correct. The next time someone tells you that buying a home is a worst financial decision than renting or waiting it out, make sure you get the math. Go back to Episode 40. Finish with those rental numbers. Maybe they’re right. If it’s not the right thing for you, then it’s simple. You ask them a hand, “How about I live with you rent-free while we wait for the market to drop? Do you think it’s going to go 20% down? Cool. I’ll just live with you until the market goes 20% down rent-free. If it does, I’ll move out and I’ll pay you the rent back. If it doesn’t, I could stay here rent-free for 5, 6, 7 years. In the past, I’ve also talked about the reasons to buy a house, and I’m going to give you some of them right now on why you shouldn’t wait. This is a personal thing. I think that I found with all my first-time buyers that it looks way cooler to the opposite sex or the same sex, or whatever gender or nonbinary thing that you’re trying to attract. It’s way more attractive to be a homeowner. That is not a fact endorsed by the National Association of Realtors or anybody legitimate, but it’s true. If you still aren’t convinced, let me summarize a video from my YouTube page that I did way back in 2017. That’s when there were five years of a rising market and people were afraid there was going to be a bubble then. I was given facts, and these facts I took straight from a study done from Harvard. The Harvard guys said there were five financial reasons for buying a home in any market. Number one, leverage. Even if you put 20% down, you’re leveraging 80% of the asset. You typically are not able to buy stocks or bonds with 5%, 10% or 20% down. Even lower appreciation is larger with a leveraged higher-priced asset. Number two, they said you’re paying for a roof anyway if you own or rent. Number three, the tax benefits. Those have changed a little bit since 2017. The laws have changed but there are still benefits up to $10,000. Number four, owning is a great hedge against inflation. Historically, housing costs and rents go up or higher than the rate of inflation. Remember, your payment is fixed for 30 years, unlike those rents. Number five, and this is one of my favorites, for those of you guys out there who have FOMO and aren’t good at budgeting and saving money, so you spend your money because you don’t want to miss out on stuff. A mortgage is a forced savings. Do you ever get to the end of the month and you’re all bombed out because you pay all your money on bills and a bunch of other things you shouldn’t spend your money on? Now you’ve got nothing left to throw in your savings account. If you forget to budget or save on one month, you have to pay your rent or your mortgage but by doing it as a mortgage, instead of a rent, it’s forced adulting. You’re saving money. There you are. Now, you’re informed. Feel good about that. You did it. No one can say that you didn’t research this decision. When all you hear are those negative headlines, remember, those negative headlines are out there for a reason because negative sells. Negative is easy for people to spew out there. I am always going to tell you exactly what’s going on in the market. Be cautious, be careful, but one of the world’s greatest economists and one of the humblest guys on the face of the Earth, Warren Buffett, he says, when he’s talking about his financial advisement company, “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.” That will let you know how to work the game. Be proud of yourself. You’re taking this all in. You put yourself through what I know must have been torture listening to all of this math and statistics. I don’t care if you’re miles away from being able to buy, or if you’re ready to go out and buy a home this weekend, you are now better armed with the knowledge. That’s a big deal. Congratulations to you. Okay Two last thoughts, and I’m going to finish with a thought that I think is going to surprise a lot of you and no, it’s not, “You can do this.” That’s no surprise. I say that every episode. Second and last thought, as always, if this episode or any of the others has been helpful, please subscribe. I think you heard me talking about the reviews. It’s really helpful and can help other people who need this information, and it might be good for them. Apple Podcasts is a great place to write a review. You can also do it on the Facebook page. I want you guys to know that if you have specific questions, hit me up on Instagram, @DavidSidoni. I am shocked when I see many people say, “I finally got the courage to write you.” dude. I tell you this all the time. This is my mission. Reach out. Ask me a question anytime you want to. I’m shocked that people say that they finally got the courage to write me. If you listen to all my haters out there, apparently, I asked that too much on the podcast. I don’t think so. It’s like 45 minutes I ask. The reason I’m telling you is because it’s been really fun. It’s been a fun part of my job. I will answer your questions. I got a new office and new people to help me out. I’m going to be an old man on you one more time I’m going to quote Jerry McGuire from the 1996 movie, “Help me help you.” Hit me up. DM me, or you can go to DavidSidoni.com and send me an email. It’s also HowToBuyAHome.com. If you’re ready to go and you’re looking for a local pro, hit me up for a unicorn in your area. We’re helping hundreds of people. Unicorn nation is helping people buy houses. I’m going to tell you those stories a little bit later on. Get ready for your surprise. Last piece of information before I go. I’ve got to go right now. Do you know why? Because I have to shoot a fifteen-second TikTok to explain how much you should offer over a list price to get the home that you’re bidding on. How pissed are you right now? You’re going to explain that in fifteen seconds, but this bubble crap and should I wait is two hours of a show? Come on. You guys know me by now. I’m not explaining it in fifteen seconds TikTok. I’m dancing to Run-DMC. It’s tricky to explain that nobody can explain this stuff in fifteen seconds. It’s way too tricky for that. I told you guys I’m on a mission. You can do this.

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This podcast was started for YOU, to demystify things for first time home buyers, and help crush the confusion. After helping first timers for over 13 years, I knew there wasn’t t a lot of clear, tangible, useable information out there on the internet, so I started this podcast. Help me spread the word to other people just like you, dying for answers. Tell your friends, family, and perhaps that random neighbor you REALLY want to move out about How to Buy a Home! A really easy way is to hit the share button and text it to your friends. Go for it, help someone out. And if you’re not already a regular listener, subscribe and get constant updates on the market. If you are a regular and learned something, help me help others – give the show a quick review in Apple Podcasts or wherever you get your podcasts, or write a review on Spotify. Let’s change the way the real estate industry treats you first time buyers, one buyer at a time, starting with you – and make sure your favorite people don’t get screwed by going into this HUGE step blind and confused. Viva la Unicorn Revolution!
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Here More Episodes

  Back to the basics. David Sidoni is back with a glossary of all the “M” words you need to know when you are preparing to buy your first home. AND A BONUS – Scam alert! How to spot real education websites from the ones just trying to sell you something. How to stay protected …

Ep 131 – First Time Home Buyers Terms And Definitions From A-Z – “M” Read More »

  David Sidoni is back at it! This time, he goes through the glossary for J, K, & Ls. So tune in and enrich your vocabulary and learn important terms and definitions as you dip into the verbiage of real estate and make your first-time home buyer’s journey memorable and a lot less complicated and …

Ep 130 – First Time Home Buyers Terms And Definitions From A-Z – “J, K & L” Read More »

  Ever planned on buying your first home, but you’re unemployed? Is it possible to work things out without an income stream coming for two years? To answer those questions, tune in to this episode and hear the real-life story of these first time home buyers who bought their first home WITHOUT two years of …

Ep 129 – Interview With A First Time Home Buyer Who Bought WITHOUT Two Years Of Employment Read More »

I hope you are getting your questions answered about this crazy process. I know there’s not a lot of clear information out there on the internet, so that’s why I started this podcast. To demystify the whole thing and get you first timers the help you deserve!  Help me spread the word to other people just like you, dying for answers. Tell your friends, family, and perhaps that random neighbor you REALLY want to move out about How to Buy a Home! A really easy way is to hit the share button and text it to your friends. Go for it, help someone out.  And if you’re not already a regular listener, please subscribe.  If you are a regular and learned something, help me help others – give the show a quick review in Apple Podcasts or wherever you get your podcasts. Let’s change the way the real estate industry treats you first time buyers one buyer at a time – and make sure your favorite people don’t get screwed by going into this HUGE step blind and confused.  Viva la Unicorn Revolution!

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