Latest / Bought Borrowed and Sold / Spring has Sprung and so has the Birmingham Housing market

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Spring has Sprung and so has the Birmingham Housing market · Bought Borrowed and Sold

• 0:00
  Speaker 1: All right, welcome to bot Bart and Soul. Thanks so
• 0:03
  Speaker 1: much for joining us. And uh, we are in the
• 0:07
  Speaker 1: thick of selling season. I'm so excited. I'm having so
• 0:10
  Speaker 1: much fun already. Uh right here in March at the
• 0:15
  Speaker 1: beginning of this the selling cycle, and you know, fun days,
• 0:21
  Speaker 1: fun days. Brad Smith hanging out with us as always
• 0:24
  Speaker 1: in the studio with a cross country mortgage.
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  Speaker 2: What's going on, bron Man? For us, it is buying season.
• 0:30
  Speaker 2: We're in buying season, and we've got buyers and so
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  Speaker 2: that's where we are again, somebody's got to sell it
• 0:36
  Speaker 2: for us to have buyers. But we we we focus
• 0:39
  Speaker 2: on those buyers, buyers and more buyers we had.
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  Speaker 1: I was I got a message, got a past client
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  Speaker 1: and we've been you know, kind of talking about getting
• 0:49
  Speaker 1: into house, you know, getting into a place. And there
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  Speaker 1: was a there was a house that that popped up
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  Speaker 1: on the market and it had been on the market
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  Speaker 1: maybe I don't know, three or four days, and and
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  Speaker 1: so you know, every everything that she was looking for,
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  Speaker 1: like this place was like the perfect place.
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  Speaker 2: Check check, check the box.
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  Speaker 1: And and so you know, she was like, hey, let's
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  Speaker 1: go see this tomorrow. I was like, yeah, perfect. So
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  Speaker 1: we nine o'clock. We had looked at it. By you know,
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  Speaker 1: nine fifteen, She's like, I love it, you know, like this,
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  Speaker 1: this is it, so you know I'm leaving. I was like,
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  Speaker 1: all right, well I got it. Let me go to
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  Speaker 1: the office, let me do comparables, let me see what
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  Speaker 1: you know, it makes sense to make an offer. So
• 1:29
  Speaker 1: I called the agent that was the listing agent. She's like, yeah,
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  Speaker 1: we've got two offers and uh yeah, we're about to
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  Speaker 1: make a decision. I was like, well hold up. I
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  Speaker 1: was like, my lady loves it. I was like, do
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  Speaker 1: not do anything until I get you something, like I
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  Speaker 1: will get you something in like the next two hours,
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  Speaker 1: and I was like, I'll make sure it's a great
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  Speaker 1: offer and I'll make sure it's clean as it can be.
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  Speaker 1: So by ten fifteen I had them an offer over
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  Speaker 1: at I mean just just clean as a whistle.
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  Speaker 2: Yeah.
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  Speaker 1: By eleven o'clock I got the phone call of yes,
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  Speaker 1: we're going to go with your offer. I was like,
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  Speaker 1: let's yeah, that's awesome. So yeah, you know, sometimes it
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  Speaker 1: just happens super quick. But you know, in the houses
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  Speaker 1: that that show very well, which this was a house
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  Speaker 1: that showed beautifully you've got to jump on it. You
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  Speaker 1: if it's priced right and it shows well, like you've
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  Speaker 1: got to jump on it, because this is not a
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  Speaker 1: market that you know, if if if you want to
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  Speaker 1: overprice it, I mean, feel free to overprice it, but
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  Speaker 1: and you might get it sold at some point down
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  Speaker 1: the line. But you know, if you price it right
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  Speaker 1: from the get go, it shows very well, you know things,
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  Speaker 1: things are still moving, you know, fairly well so. And
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  Speaker 1: it also depends on the price point.
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  Speaker 2: Yeah, that's interesting. Only I'll start think about it also,
• 2:51
  Speaker 2: like going back to like the seller side, right, they're
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  Speaker 2: not trying to make a decisions. Then I kind of
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  Speaker 2: go back and think, I wonder with the other two work,
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  Speaker 2: you know you know what I mean, like like because
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  Speaker 2: I think because because I mean, I'm just making up
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  Speaker 2: numbers now. But it could have been you know, ten
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  Speaker 2: thousand less than the list price. But it was two offers,
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  Speaker 2: and they were like, hey, these are pretty quick, let's
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  Speaker 2: make a decision on one. All of a sudden, it's
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  Speaker 2: like boom, you know, we got everything.
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  Speaker 1: Well, the feedback that I got was I'm almost super clean.
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  Speaker 1: We really weren't asking for anything. My window for inspection
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  Speaker 1: was tight. And I went in with an escalation clause,
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  Speaker 1: and then I went in with you know, inspection, you know,
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  Speaker 1: for it to be the home to be sold as is,
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  Speaker 1: but we'll have an inspection just in case there's like
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  Speaker 1: some of those oh's that are out there, so you know,
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  Speaker 1: I mean, it's just when when somebody wants something, you
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  Speaker 1: got to put you know, your game face on and
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  Speaker 1: you got to be aggressive and attack. And I was like,
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  Speaker 1: I am going to find a way to make this happen.
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  Speaker 1: And then also another thing, which you know this this
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  Speaker 1: says a little bit about me, you know. The agent
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  Speaker 1: was like, hey, look, I know that if you're working
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  Speaker 1: with this person, you're going to get this to the closing.
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  Speaker 1: That's right, and that makes a big difference to so
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  Speaker 1: uh Anyways, I was thrilled. Then also had another one
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  Speaker 1: that one of my buyers they we had been looking
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  Speaker 1: in a specific neighbor We were looking in Brook Highland
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  Speaker 1: and Brooke Hines's been it's been a very very h
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  Speaker 1: tough neighborhood to get into. Yeah, not a tunnel listings
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  Speaker 1: and so we've been waiting. We've been waiting for the
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  Speaker 1: right house, and the right one popped up. We got
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  Speaker 1: a we got a great price on it and and
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  Speaker 1: lock that deal down. So I was super pumped for
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  Speaker 1: my clients. And uh yeah, so it's been a good week.
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  Speaker 1: I feel like, yeah, for sure. Hey, we've got hey,
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  Speaker 1: we've got an open house a Sunday. We've got some
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  Speaker 1: new listings. So uh so let's talk about those, uh,
• 4:44
  Speaker 1: the the open house and those new listings, and let's
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  Speaker 1: get the game going. Some bread, share the rules of
• 4:49
  Speaker 1: the game.
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  Speaker 2: Rules of the game. Gus, He's gonna go through the
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  Speaker 2: properties he's got for today. He's gonna go through some
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  Speaker 2: of the key features and cool cool things about the
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  Speaker 2: property and different features.
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  Speaker 1: Uh.
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  Speaker 2: At the end, though, he's gonna give me what I need,
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  Speaker 2: and that is list price of the home, at which
• 5:01
  Speaker 2: time I will give a potential down payment that a
• 5:03
  Speaker 2: baller may make. And then Gusty and John Mounts will guess.
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  Speaker 2: They'll make their best attempt at guessing the thirty year
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  Speaker 2: fixed monthly payment principal and interest only thirty years monthlies
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  Speaker 2: Prince Pinson only Gusty, all right, well, let let's.
• 5:16
  Speaker 1: Get it going. Our We've got open this afternoon from
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  Speaker 1: two to four, uh in the Palmer Cove neighborhood. It's
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  Speaker 1: four forty four couples drive. This is in the Oak
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  Speaker 1: Mountain School District. Built in twenty twenty four. It is
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  Speaker 1: three bedrooms, two full baths and two half baths. Also
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  Speaker 1: got a two car garage. Was built in twenty twenty
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  Speaker 1: four by Harristool Homes twenty two hundred and thirty square feet.
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  Speaker 1: And we're asking four to twenty nine to nine, four
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  Speaker 1: twenty nine to nine. This listing is a courtesy and
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  Speaker 1: myself and Ashley Stags on our team. So Ashley, congratulations
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  Speaker 1: on your new listing.
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  Speaker 2: All right, four twenty nine nine, sort off of five
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  Speaker 2: percent down, five percent, five percent starting with Gusty.
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  Speaker 1: All right, let's see, m I'm gonna go with twenty
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  Speaker 1: five hundred, twenty five hundred for Gusty.
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  Speaker 3: You know, last week I kind of get it. I
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  Speaker 3: bet against Gusty and I lost. So I'm gonna keep
• 6:25
  Speaker 3: it a little closer than usual this week.
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  Speaker 1: And nice that you usually don't want to bet against
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  Speaker 1: three pound.
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  Speaker 3: Yeah, yeah, it did not work out well for me
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  Speaker 3: last week. I'm gonna say twenty six hundred.
• 6:37
  Speaker 1: Oh boy.
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  Speaker 2: The actual payment was two thousand, five hundred and forty
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  Speaker 2: eight by two dollars.
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  Speaker 1: Wow, that was fun, all right.
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  Speaker 2: Gusty gets round one.
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  Speaker 1: Man, that was close.
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  Speaker 2: Live there, John lived there.
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  Speaker 1: All right. Our next new listing is located in Fairfield, Weld.
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  Speaker 1: It's four oh five fifty fifth Street. It was built
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  Speaker 1: in nineteen ninety five. It's three bedrooms, two baths, twelve
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  Speaker 1: hundred and seven square feet. One O eight five hundred,
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  Speaker 1: one eight five hundred. This one is fresh paint, new flooring,
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  Speaker 1: fully brick. I mean it's gonna be hard to get
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  Speaker 1: a good priced house like this for the money. One
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  Speaker 1: O eight five. This listing is courtesy of Tim Lance.
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  Speaker 1: So Tim, congratulations on your new listing.
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  Speaker 2: One eight five one eight five one eight five ten
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  Speaker 2: percent down, ten percent down. We're gonna start with John. Okay,
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  Speaker 2: I'm thinking seven hundred, seven hundred for John.
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  Speaker 1: M How much you down again?
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  Speaker 2: Ten percent?
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  Speaker 1: Ten?
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  Speaker 2: Like the song?
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  Speaker 1: Mmmm, damn, I'm gonna go with the what do you say.
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  Speaker 2: Seven hundred? I don't remember what I said.
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  Speaker 1: I'm gonna go with six point thirty.
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  Speaker 2: The actual payment was six' oh nine six nine. Gusty
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  Speaker 2: gets round two.
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  Speaker 1: I'm locked in today.
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  Speaker 2: Now looking good for me. At this point, it's all
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  Speaker 2: over though.
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  Speaker 1: Our next new listing is in Hueytown one twenty one
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  Speaker 1: Meadowood Avenue. This one is three bedrooms, one bath, one
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  Speaker 1: thousand and fifty three square feet. It is on a
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  Speaker 1: quarter acre lot one fifty nine nine, one fifty nine nine.
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  Speaker 1: This one has been renovated. It's got updates with some
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  Speaker 1: modern finishes. New HVAC with a transferable warranty. All right,
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  Speaker 1: three to one in Hueytown one fifty nine nine. This
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  Speaker 1: listing is courtesy of Kyle Bedgood. So, Kyle, congratulations on
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  Speaker 1: your new listing.
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  Speaker 2: One five percent down, five percent down. Back to Gusty
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  Speaker 2: who has a two zero lead going to the third property.
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  Speaker 2: We have six today.
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  Speaker 1: So you said five percent down, five percent down.
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  Speaker 2: It's not over yet, not over yet.
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  Speaker 1: No, No, I'm gonna go with nine forty two.
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  Speaker 3: Since every dollar accounts as we found out of the
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  Speaker 3: first property. Uh, I'm gonna say right at one thousand.
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  Speaker 2: It was actually nine forty eight. Gusty smoking it today.
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  Speaker 1: Man, let's go. Next new listing of the week is
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  Speaker 1: in the bestmer Area on a third of an acre,
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  Speaker 1: lot sixty forty seven Pocahontas Road. Look at that Pocahontas
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  Speaker 1: built in nineteen fifty four bedrooms in two baths, seventeen
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  Speaker 1: hundred and sixty square feet. It is priced at two
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  Speaker 1: hundred and twenty five thousand. It is in the Macadori
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  Speaker 1: School System. And this listing is courtesy of Tony McDaniel.
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  Speaker 1: So Tony, congratulations on your new listing. Two twenty five Pocahontas, Pocahontas.
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  Speaker 1: Ten percent down, All right.
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  Speaker 2: It's on to me right, Uh yes, sorry, sorry, I'm
• 10:17
  Speaker 2: gonna say fourteen hundred, fourteen hundred from John.
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  Speaker 1: I'm gonna go with twelve ft It's.
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  Speaker 2: Actually twelve sixty three dialed in today.
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  Speaker 1: Let's go.
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  Speaker 2: All right.
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  Speaker 1: Next new listing is in trustful two thirteen ash circle.
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  Speaker 1: So it's built in nineteen eighty three, also on a
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  Speaker 1: third of an acre lot, three bedrooms, two baths, eleven
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  Speaker 1: hundred and four square feet, and we are asking two
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  Speaker 1: forty nine nine two forty nine nine, two thirteen ash circle.
• 11:00
  Speaker 1: This listening as courtesy of Kyle Old bed Goods. So Kyle,
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  Speaker 1: congratulations on your new listing.
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  Speaker 2: All right, five percent down to two forty nine nine
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  Speaker 2: five percent down, five percent down back to gusty.
• 11:19
  Speaker 1: I'm gonna gal with m let's go fifteen seventy one.
• 11:33
  Speaker 2: I'm gonna say fourteen ninety nine. It was fourteen eighty one.
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  Speaker 2: John's the sweep on the board going to happen.
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  Speaker 1: John's on the.
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  Speaker 2: Boards, sweep averted? All right.
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  Speaker 1: And our last new listing of the week is in
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  Speaker 1: the pel City area in the Revere Estates. Built in
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  Speaker 1: two thousand and two, four bedrooms, three baths, excuse me,
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  Speaker 1: two thousand, seven hundred and twelve square feet. It is
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  Speaker 1: thirty one sixty five Eastonville Road. Thirty one sixty five
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  Speaker 1: Eastonville Road. We are asking five hundred thousand for this home.
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  Speaker 1: It's also got a two car garage. It's one and
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  Speaker 1: a half stories, so if you've got like a teen
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  Speaker 1: or you know in law, you want to have like
• 12:22
  Speaker 1: their own kind of little wing, they can do that
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  Speaker 1: in this house. It's also got a above ground pool,
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  Speaker 1: so that could be a great option for them. And
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  Speaker 1: it's super close to being right there on the water
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  Speaker 1: at Logan Martin Lake and actually has deeded access to
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  Speaker 1: a little sliver of the lake, so go yeah, it's
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  Speaker 1: one of like twelve lots that has this like little
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  Speaker 1: sliver of land that they can go and access to
• 12:47
  Speaker 1: the logan Martin out. Yeah. This listing is courtesy of
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  Speaker 1: John Michael. Brandis a John Michael. Congratulations on your new listing.
• 12:55
  Speaker 2: Five hundred thousand, five hundred, All right, five hundred back
• 12:58
  Speaker 2: to John. Ten percent down, ten percent down for our
• 13:02
  Speaker 2: final property, three thousand. John said, I can't win not
• 13:13
  Speaker 2: getting swept three thousand.
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  Speaker 1: I'm thinking, I'm thinking like twenty eight seventy five.
• 13:19
  Speaker 2: It was actually twenty eight oh seven. Gusty goes five
• 13:23
  Speaker 2: and one today, but that was also But all the guests,
• 13:27
  Speaker 2: all the guesses were close educated guess, educated guests. Hey,
• 13:32
  Speaker 2: more educated than Oithers.
• 13:34
  Speaker 1: Yeah, yeah, Hey, we've got some coming sons in Thorsby, Adamsville,
• 13:40
  Speaker 1: Crestwood and Birmingham, Odinville, Homewood, McCall up. We've got a
• 13:48
  Speaker 1: bunch coming up. I'm excited again, like I'm excited about
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  Speaker 1: the selling seasons now. We do have a couple of
• 13:54
  Speaker 1: buyer needs. We're still looking for some land in Chilton County.
• 13:57
  Speaker 1: We've got somebody looking in Vestavia up to sixty. We've
• 14:01
  Speaker 1: got folks looking in the Edgewood School district pretty much
• 14:04
  Speaker 1: in all price ranges. We've got somebody looking in Hoover
• 14:09
  Speaker 1: up to five hundred, and we've also got somebody looking
• 14:12
  Speaker 1: in Hoover up to four hundred, and then we've got
• 14:16
  Speaker 1: somebody looking in the Cobba Heights area up to six hundred.
• 14:19
  Speaker 1: So if you have a home that matches that criteria,
• 14:23
  Speaker 1: go to Gustigulisgroup dot com or two O five five
• 14:26
  Speaker 1: four to two nineteen ninety six you call or texts
• 14:29
  Speaker 1: that number. Hey, guess what time it is. That's right,
• 14:34
  Speaker 1: it's testimonial time, all right. This one is from Jesse
• 14:41
  Speaker 1: about Tony. Says, Tony has worked with me on several properties.
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  Speaker 1: He has shown knowledge of the area and tailored a
• 14:48
  Speaker 1: portfolio of listings to match my interest. Tony has also
• 14:53
  Speaker 1: gone above and beyond to ensure professionalism is shown at
• 14:56
  Speaker 1: all times and that he is willing to go above
• 14:59
  Speaker 1: and beyond to create a worth while experience. So Jesse,
• 15:04
  Speaker 1: congratulations on your new rental homes and Tony, congratulations.
• 15:08
  Speaker 2: On another five star review.
• 15:13
  Speaker 1: That's the one we're gonna focus on.
• 15:14
  Speaker 2: That, I tell you does not surprise me at all
• 15:17
  Speaker 2: all that Tony goes above and beyond. He he is
• 15:19
  Speaker 2: one that seemed to always want to be in the
• 15:21
  Speaker 2: middle and help and jump on stuff all the time.
• 15:24
  Speaker 2: That's right, that's all that's right for him.
• 15:26
  Speaker 1: Well cool, Well, hey y'all, stay tuned. We're going to
• 15:30
  Speaker 1: talk about what we're seeing in the mortgage market, what
• 15:32
  Speaker 1: we're seeing in the real estate market right here on
• 15:33
  Speaker 1: Bobart and Stole. Stay tuned. All right, thanks so much
• 15:37
  Speaker 1: for joining us again your real estate resource here in Birmingham,
• 15:41
  Speaker 1: Bolbart and sold myself, Gusty goulis hanging out with Brad
• 15:45
  Speaker 1: Smith with Cross Country Mortgage. And you know, there's been
• 15:48
  Speaker 1: a lone going on in the world with this war
• 15:52
  Speaker 1: and Iran or conflict or whatever you want to call it.
• 15:55
  Speaker 1: And you know, I mean we have seen an impact
• 15:58
  Speaker 1: on interest rates. So so Brad, what do we see
• 16:01
  Speaker 1: and what's been the latest? Ma Man.
• 16:02
  Speaker 2: Yeah, you know, again, anytime we have some kind of
• 16:04
  Speaker 2: you know, crisis, in any kind of world event, you know,
• 16:08
  Speaker 2: it's going to impact us one way or another in
• 16:10
  Speaker 2: the markets.
• 16:11
  Speaker 1: And uh.
• 16:12
  Speaker 2: And so basically what what we've noted, what we were
• 16:14
  Speaker 2: seeing is with with this being going on in Iran,
• 16:18
  Speaker 2: in US, uh, in the US you know, making some statements,
• 16:22
  Speaker 2: having issues you know, getting oil out of there and
• 16:25
  Speaker 2: going through the strait of hermr hormone, how do you
• 16:28
  Speaker 2: her meuse whatever the straight of h O R m
• 16:31
  Speaker 2: u Z where they having trouble getting the oil there.
• 16:34
  Speaker 2: So even though they're released in four hundred and whatever
• 16:36
  Speaker 2: billion million barrels or whatever, Uh, the biggest issue was
• 16:41
  Speaker 2: we're still saying we're having trouble getting oil out of there.
• 16:43
  Speaker 2: So oil prices continue to serge and have a run
• 16:45
  Speaker 2: on oil prices. When that happens, money leaves, money leaves
• 16:49
  Speaker 2: the stock and bond market, and so therefore it causes
• 16:52
  Speaker 2: the bond rates to go up and mortgage rates follow.
• 16:55
  Speaker 2: And so even the but like I said last week,
• 16:59
  Speaker 2: so until we know kind of where this is going
• 17:01
  Speaker 2: to go and how the until the oil gets the
• 17:04
  Speaker 2: oil situation gets kind of completely figured out and kind
• 17:07
  Speaker 2: of settles back down, it's trumping all the other things
• 17:10
  Speaker 2: that are normal technical levels that we're that we would
• 17:12
  Speaker 2: be talking about on what's happening to mortgage rates. And
• 17:14
  Speaker 2: so the good news is behind the scenes, what we're
• 17:18
  Speaker 2: seeing is things that are still going to help mortgage
• 17:21
  Speaker 2: rates continue to come down once we can kind of
• 17:24
  Speaker 2: get this oil situation settled and a better idea of
• 17:26
  Speaker 2: what's going going to happen in the Middle East, and
• 17:28
  Speaker 2: so we're really all over the world at this point.
• 17:31
  Speaker 2: So so, yeah, mortgage rates are ticking up. It's it's
• 17:34
  Speaker 2: it hasn't been crazy. We haven't like made a run
• 17:36
  Speaker 2: back to the sevens or anything. We're kind of still
• 17:38
  Speaker 2: lower sixes now, you know, you know, it's kind of
• 17:40
  Speaker 2: giving a baseline of probably six point three seven five now,
• 17:43
  Speaker 2: give or take.
• 17:45
  Speaker 1: And again, but what a difference in two weeks.
• 17:47
  Speaker 2: Quite a difference in two weeks and and again, you know,
• 17:52
  Speaker 2: you know, I mean, I think the oil stopped trading
• 17:55
  Speaker 2: last week around ninety four to ninety five dollars a barrel,
• 17:57
  Speaker 2: which was pretty high considering where it's been. And that's
• 17:59
  Speaker 2: just kind of what we're seeing now. Again, it's not
• 18:03
  Speaker 2: you know, it may slow some folks down who weren't
• 18:05
  Speaker 2: already in the market from jumping in. Is to kind
• 18:08
  Speaker 2: of say, well, let me see what happens in the
• 18:09
  Speaker 2: next couple of weeks and everything else, But you know,
• 18:11
  Speaker 2: we're not seeing I'm not seeing anybody pull back that's
• 18:14
  Speaker 2: already already committed. Like it's not that that's not a
• 18:17
  Speaker 2: sticker shock number for it to adjust and go there
• 18:20
  Speaker 2: where it's telling people, well, we were gonna buy and
• 18:21
  Speaker 2: now we're gonna wait and hold off. Like, have haven't
• 18:23
  Speaker 2: heard or seen much of that or much balking at
• 18:26
  Speaker 2: at at at where rates are today. So I don't
• 18:29
  Speaker 2: think it's gonna have much of an impact on on
• 18:31
  Speaker 2: our on what we think is going to be a
• 18:33
  Speaker 2: great spring is already going that way. So so I mean,
• 18:37
  Speaker 2: I think it's still positives in the market.
• 18:39
  Speaker 1: I do think that because we are what I would
• 18:44
  Speaker 1: consider now in our selling season. If if rates had
• 18:48
  Speaker 1: gone up that quick in a different time of the market,
• 18:52
  Speaker 1: I think it would would have impacted our market. Right. Yes,
• 18:56
  Speaker 1: since we are in our selling season, I don't think
• 18:58
  Speaker 1: it's impacting our markets as it would typically because people
• 19:03
  Speaker 1: are just naturally in this time of year are started
• 19:06
  Speaker 1: the process of whether they're getting their house on the market,
• 19:09
  Speaker 1: they're ready to to buy one, and then they're putting
• 19:12
  Speaker 1: their house on the market. Like we're starting to see
• 19:14
  Speaker 1: a bunch of stuff come up every day.
• 19:16
  Speaker 2: Well, and you know, it's kind of like anything. It's
• 19:19
  Speaker 2: like you know, when you go shopping for whatever it is,
• 19:22
  Speaker 2: just throw out an item that you were going to
• 19:24
  Speaker 2: go look for, and then you know, you say, Okay,
• 19:26
  Speaker 2: I'm gonna spend five hundred dollars on a TV. We
• 19:28
  Speaker 2: need TV. I got a five hour budget. Then you realize, well,
• 19:31
  Speaker 2: if I if I spend five point fifty, I can
• 19:34
  Speaker 2: get I can get extra this, or it's six hundred,
• 19:37
  Speaker 2: it even has the picture gets better. Like so next thing,
• 19:39
  Speaker 2: I know, I spend six twenty five on a TV.
• 19:43
  Speaker 2: Once the rates came down and got people in, then
• 19:46
  Speaker 2: they started seeing things Ooh I do like that, Oh
• 19:48
  Speaker 2: I like that, or I like that, and it's like, well,
• 19:50
  Speaker 2: rates are going up a quarter. I don't care. I mean,
• 19:52
  Speaker 2: I'm in that mindset now. So having that dip one
• 19:56
  Speaker 2: hundred percent helped get it there here. Even if they
• 19:59
  Speaker 2: do tick up a little bit, it's not it's getting people.
• 20:01
  Speaker 2: I was already my feet are already in the water,
• 20:03
  Speaker 2: and not get I'm not coming back.
• 20:05
  Speaker 1: Out, man. Perfect example, just exactly what you mentioned. I
• 20:08
  Speaker 1: had some folks that were looking up to six hundred
• 20:11
  Speaker 1: in the in the fall, right, and we just couldn't
• 20:14
  Speaker 1: find anything. I mean, we made some offers, just couldn't
• 20:17
  Speaker 1: land on a price that we just you know, right,
• 20:20
  Speaker 1: could could make it work for the house. And then
• 20:23
  Speaker 1: you know this week. You know, they they decided to
• 20:26
  Speaker 1: move up in that price range based on what they
• 20:28
  Speaker 1: were looking for in a house, and we knew that
• 20:31
  Speaker 1: we had to kind of move up a little bit.
• 20:34
  Speaker 1: And yeah, so I mean we're under contract like six
• 20:39
  Speaker 1: eighty five, so we've been looking this whole time at
• 20:42
  Speaker 1: six hundred boom now almost one hundred thousand dollars difference.
• 20:46
  Speaker 1: And but as you know, like anything, it's it's a
• 20:48
  Speaker 1: comfort level on price right, comfort comfort level, and you
• 20:52
  Speaker 1: know it's I would I would gather to think that,
• 20:56
  Speaker 1: you know, these rates will come back down eventually, and
• 20:58
  Speaker 1: so oh yeah, you know if it's you know, a
• 21:01
  Speaker 1: year or two down the road, somebody might be able
• 21:03
  Speaker 1: to refinance. It's just like when we were closing deals
• 21:06
  Speaker 1: two years ago at seven and a half and eight percent.
• 21:09
  Speaker 1: There's people that have been refinancing here recently.
• 21:11
  Speaker 2: Yeah, oh yeah, and we've still got I mean, I'm
• 21:13
  Speaker 2: getting triggered not trigger leads from my own previous past clients.
• 21:17
  Speaker 2: It's saying, hey, I get emails that say you have
• 21:20
  Speaker 2: a custom that's in the money, and basically it's saying
• 21:23
  Speaker 2: they can refinance right now on an easy quick refinance
• 21:27
  Speaker 2: with us keeping it all in the books and lower
• 21:28
  Speaker 2: the rate one percent or one in a quarter the
• 21:30
  Speaker 2: payment drops one hundred and forty or two hundred and
• 21:32
  Speaker 2: thirty or whatever. So how you're paying more than you
• 21:34
  Speaker 2: got to be paid right now if you want to
• 21:35
  Speaker 2: do something. And so we're definitely seeing a lot of
• 21:37
  Speaker 2: that still. I mean, there's there's still people with a
• 21:40
  Speaker 2: lot of folks with seven and eight percent interest rates,
• 21:43
  Speaker 2: and so yeah, I mean we're we're getting there. And
• 21:46
  Speaker 2: you know, your example was perfect just because like again,
• 21:49
  Speaker 2: it goes back to that rate dip that we had
• 21:52
  Speaker 2: that they didn't have in the fall when they were
• 21:53
  Speaker 2: at six hundred. Rates drop and all of a sudden,
• 21:56
  Speaker 2: we can go to six seventy five, six eighty five
• 21:58
  Speaker 2: and keep our payments about the same. Start looking while
• 22:01
  Speaker 2: rates came up a little bit, don't care what I've
• 22:02
  Speaker 2: been seeing in this price point. Now we're staying here.
• 22:05
  Speaker 2: And so it's you know, it's it's all about that
• 22:07
  Speaker 2: whatever whatever that is it makes you know, we used
• 22:09
  Speaker 2: to joke and say, you know, whatever that rate you
• 22:11
  Speaker 2: want to put under your pillow at night, or whatever
• 22:14
  Speaker 2: that is that makes you feel good. Everybody has a
• 22:16
  Speaker 2: different trigger of what that is. And so so it's
• 22:20
  Speaker 2: all about timing it up and trying to figure it
• 22:22
  Speaker 2: all out. And everybody's gonna be different. We talked to
• 22:24
  Speaker 2: something we were talking about somebody earlier that we've been
• 22:25
  Speaker 2: talking to, the first time home buyer, So they're probably
• 22:28
  Speaker 2: gonna wait and rent for six months or twelve months
• 22:29
  Speaker 2: and figure it out more. They're in college, they're graduating,
• 22:32
  Speaker 2: they know where they're moving, but they're not used to
• 22:33
  Speaker 2: the area, so they want to rent and figure it
• 22:35
  Speaker 2: out and make sure they know what they're doing before
• 22:36
  Speaker 2: they invest in purchase. So again, everybody's got different, different
• 22:40
  Speaker 2: things going on, and so you know, rates are just
• 22:43
  Speaker 2: part of our conversation with this thing, but definitely not
• 22:46
  Speaker 2: the not the not even the biggest factor in any
• 22:49
  Speaker 2: of this because it's always going to happen. People are
• 22:51
  Speaker 2: always buying some houses.
• 22:52
  Speaker 1: I think the biggest thing is people just need to
• 22:54
  Speaker 1: go ahead and build that plan of action right and
• 22:56
  Speaker 1: so you know, if because what happened is when when
• 23:01
  Speaker 1: that right house, you know, dust pop up, you're probably
• 23:04
  Speaker 1: gonna have to move quick quick. So it just makes
• 23:07
  Speaker 1: way more sense to go ahead and get pre qualified
• 23:09
  Speaker 1: for a mortgage, go ahead and get all your stuff
• 23:11
  Speaker 1: for the lender unless you're paying cash. We love you
• 23:13
  Speaker 1: guys too, and go ahead build that plan because there
• 23:17
  Speaker 1: might be things that you need to work on on
• 23:18
  Speaker 1: your credit to get a better writ interest rate, but
• 23:21
  Speaker 1: just having everything ready and mentally knowing what that payment
• 23:25
  Speaker 1: is so when that right house is out there, it's
• 23:28
  Speaker 1: time to strike. Know what your payment is, let's go,
• 23:31
  Speaker 1: let's go put it under contract, and then boom, we're
• 23:34
  Speaker 1: ahead of the game. So anyways, hey, thanks so much
• 23:36
  Speaker 1: for joining us each and every week. Brad, thank you
• 23:39
  Speaker 1: as always for bringing all the valuable information you bring
• 23:43
  Speaker 1: on the mortgages and interest rates enjoy. So all right, y'all,
• 23:47
  Speaker 1: st y'all, we'll catch you next time. Go to Gustygolsgroup
• 23:51
  Speaker 1: dot com or Bradsmith Loans dot com to get your
• 23:55
  Speaker 1: home buying process and mortgage started. Thanks so much, See
• 23:59
  Speaker 1: you next time.