People Can’t Sell Their Homes

本站添加: 2026-05-18

[00:00:00]I talked with the seller today who bought her house a year and a half ago, beautiful new build, and she was saying that she wanted the same price that she had paid for it a year and a half ago.

[00:00:10]The problem is is that they only did a $1,000 down payment. So, they have absolutely no equity. They haven't paid any of the principal. Prices haven't gone up. They've stayed flat or even maybe gone down a little bit. If they sold it for the exact same price that they bought it for, they would have to bring probably about$25 to $30,000 to close. And in a short sale, what happens is is if it sells for a loss, the bank covers the difference and the bank also covers those closing costs. So even if they sell a property for even a tiny bit more than what they had paid for, it still could possibly be a short sale if they need help with those closing costs.

[00:00:43]>> This is why I continuously say, guys, just because you got equity, because you got value, because your value went up and all these different things, just because it went up doesn't mean that you're all of a sudden this rich person.

[00:00:55]Because if you can't sell your house or if you fall on a one fall hard time and you try to get out the loan, it it it means nothing. That value, that equity means nothing if you can't sell that home. I mean, that's what a lot of home buyers are seeing right now as we