197 - Buying in 2023 feels like climbing Mt. Everest
How to Buy a Home: The #1 First Time Home Buyer Podcast
David Sidoni
4.8 • 891 Ratings
🗓️ 28 June 2023
⏱️ 37 minutes
🧾️ Download transcript
Summary
The United States only has about 1 million homes for sales nationwide. While that sounds like a lot of homes, it’s actually 40% less than the average number of homes you usually get to pick from. That even includes the crash around the pandemic! So, fewer options means for more competition, which means first-time home buyers are going to have a tough time. Today, David talks about some tips to help make the process easier as well as dispel some misconceptions about the market floating around.
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David Sidoni, the "How to Buy a Home Guy", is a seasoned real estate professional and consumer advocate with over 18 years of experience helping first-time homebuyers navigate the real estate market. His podcast, "How to Buy a Home," is a trusted resource for anyone looking to buy their first home, offering expert advice, actionable tips, and inspiring stories from real first-time homebuyers. With a focus on making the home-buying process accessible and understandable, David breaks down complex topics into easy-to-follow steps, covering everything from budgeting and financing to finding the right home and making an offer.
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Transcript
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| 0:00.0 | You know, buying your first home, the past few years, |
| 0:07.9 | it feels like you're trying to do some crazy world record giant climb, |
| 0:13.6 | like trying to climb Mount Everest. |
| 0:15.7 | Because the inventory, right now we're only in about a million homes in the United States, and I know that sounds like a lot of homes for sale, but that's 40% less than the average number of homes for sale in the last 25 years. 40% less choices. So that means your, call buying a home, a climb up a hill. |
| 0:41.9 | Well, now it feels like you're climbing the world's tallest mountain. So what are you going to do about it? |
| 0:47.4 | Well, let's talk about it. Play that music. |
| 0:49.7 | Music. What is up my how to buy a homies? |
| 1:08.8 | Boy, I don't know how this episode is going to go. |
| 1:12.8 | Welcome to How to Buy a Homeies. Boy, I don't know how this episode is going to go. Welcome to How to Buy a Home podcast. I am your host, David Sedone. And this is my second attempt. Second attempt to do |
| 1:19.6 | this podcast in the middle of the night. But it's not quite the middle of the night. It's like 10 o'clock |
| 1:24.6 | here. But yeah, I did this once. |
| 1:27.8 | It was ready to go home, checked it, and oops, forgot to turn on the correct microphone. |
| 1:33.3 | So now this is take two. |
| 1:36.1 | And homies, I am excited to bring this content for you. |
| 1:40.9 | Actually, this is something that I've had in my notes on my phone for a long time. |
| 1:46.9 | And of course, the climb up Mount Everest, well, it's due to one of the main factors that I'm |
| 1:52.5 | telling, first-time buyers, all the time right now, something you should be very keenly aware of. |
| 1:57.1 | Say it with me now, everybody. |
| 1:59.6 | Low inventory. |
| 2:02.1 | It's here in 2023 and likely going to be there in 24 and probably into 25. |
| 2:08.4 | When the home that you're choosing from is 40% less than the average number of homes that you usually get to choose from for all of the |
| 2:21.1 | 2000s. Every year that doesn't have a 19 in front of it, all 23 of them, 40% off of that |
... |
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