Seller Denial - Homes Prices Are Coming D
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 25 October 2022
⏱️ 47 minutes
🧾️ Download transcript
Summary
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ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABC’s of Property Management, and has an upcoming book: "ABCs of Buying Rental Property: How You Can Achieve Financial Freedom in Five Years." Ken is a Rich Dad Advisor.
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Transcript
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| 0:00.0 | Welcome to the Real Estate Strategies podcast, where we host in-depth conversations on everything |
| 0:07.8 | real estate with the industry's biggest movers and shakers. |
| 0:11.3 | I'm your host, Ken McElroy, joined by my co-host, Danielle. |
| 0:15.5 | Let's get right into this episode. |
| 0:17.4 | All right, everybody. |
| 0:18.7 | Welcome to the Ken McElroy show. |
| 0:20.6 | Today we're talking about seller denial and a home price coming down. |
| 0:24.6 | So seller denial, it's interesting. |
| 0:26.6 | You know, I was trying to Google articles on seller denial and there's not a lot of them out there. |
| 0:30.6 | But it's definitely a thing that's happening right now is sellers are holding out and sitting on a property that's not selling and not wanting to lower |
| 0:40.5 | their price yet well you can't blame them i mean first of all these these interest rate increases |
| 0:46.1 | it really hasn't been very long oh yeah it's super fast i think increases i think now we've had |
| 0:53.8 | so you know a very short period of time and Oh yeah, it's super fast. Five to six increases, I think, now we've had. |
| 0:57.6 | So, you know, a very short period of time. And so as a seller, you think about this, you don't often think about the buyer's circumstance. |
| 1:06.1 | You know, as a buyer is looking at it at their mortgage payment or, or maybe, you know, they're |
| 1:13.0 | trying to qualify and now it's actually a little bit different for them because the rates are |
| 1:17.7 | higher. So, but the seller is still kind of not, especially some sellers aren't as engaged |
| 1:24.9 | as we are, right? Like, we're constantly reviewing stuff and looking at stuff but the traditional seller they're off doing |
| 1:31.6 | whatever they're doing and they see these rates go up but they're you know they're |
| 1:34.9 | sitting on all this equity and they listed a house or maybe even a commercial property some |
| 1:39.8 | time ago they're not necessarily that engaged in the real estate market, you know. |
| 1:46.0 | Right, right. And I think to, you know, sellers, I mean, it was just a super hot |
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