Even with talk of a cooling housing market, prices are still high, and inventory is still low. If you’re looking for a good deal, what are you supposed to do?
This week we’re going to find out how to find a great real estate deal no matter the market.
Remember, even though we sometimes talk about specific investments on this show, don’t take them as recommendations because they’re not. Before investing in anything, do your own research, and make your own decisions.
You can watch this episode below, or if you’d prefer to listen, you can do that with the player at the top of this article. Or, you can download the episode wherever you get your podcasts:
What’s going on with the housing market?
Things might be slowing down a bit, but the housing market is still red-hot in some areas. Where is the housing market overheated, and where is it likely to maintain its value?
- Check out our slideshow on 15 overvalued housing markets. One of these markets is in Boise, Idaho. Miranda lives in Idaho!
- Not all cities have seen a housing boom. Check out our article on some cities where homeowners remain underwater. Real estate really is local.
- Worried about a coming pullback? You might be fine if you live in one of the real estate markets likely to hold their value.
- Are we really in a housing market bubble? Listen to our previous podcast episode with Mindy, talking about what’s next for the housing market.
- Before you buy a home, make sure you’re not in one of these housing markets that are likely to drop.
- How affordable is it to buy a home? Check out the St. Louis Fed’s housing affordability index and the NAR affordability index.
- Interested in the relationship between mortgage rates and housing prices? Check out this analysis by the Urban Institute.
Tips for finding a good deal on a home
Mindy thinks that it’s possible to find good deals no matter what the housing market looks like. Get to know your local real estate market and start deal hunting if that’s what you’re interested in.
- First-time homeowner? Check out our article on buying your first home.
- Learn how to buy a home even if you have a small down payment.
- Stacy has advice on how to decide whether to rent or buy a house.
- Looking for the best location? We’ve got an article full of tips on finding the best location for your home.
- It’s not always about buying a home to live in. Check out our list of cities where you can make bank when you buy a rental property.
- Use our tips on how to find a good rental property.
- Want a place to live and make money as well? Check out the BiggerPockets guide to house hacking.
Meet this week’s guest, Mindy Jensen
Mindy Jensen is a licensed agent in Colorado, and has been buying and selling houses for more than 20 years. She’s the community manager for BiggerPockets.com, and the host of the BiggerPockets Money Podcast.
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About the hosts
Stacy Johnson founded Money Talks News in 1991. He’s a CPA, and has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.
Miranda Marquit, MBA, is a financial expert, writer and speaker. She’s been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.