Latest / Bought Borrowed and Sold / Just like Santa, Fannie Mae is comming to town

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Just like Santa, Fannie Mae is comming to town · Bought Borrowed and Sold

• 0:00
  Speaker 1: All right, welcome to Bob bart and sold and God,
• 0:03
  Speaker 1: can you believe Christmas is here?
• 0:06
  Speaker 2: La la la la la la la la. Goodness.
• 0:11
  Speaker 1: Well, happy holidays and Merry Christmas to everyone out there.
• 0:14
  Speaker 1: We've got a family filled week over at the Gula's
• 0:20
  Speaker 1: house in Homewood, and I've got I've already got family
• 0:25
  Speaker 1: in town.
• 0:26
  Speaker 2: I mean where all that it's it's it's gonna be.
• 0:30
  Speaker 1: Uh, We're about to have some fun. Let's go have
• 0:34
  Speaker 1: some fun. I'm excited about some sports action. I mean,
• 0:38
  Speaker 1: I'm excited about eating all the foods.
• 0:42
  Speaker 3: All the foods. That's a great thing about Christmas too,
• 0:44
  Speaker 3: you can get it goes from every kind of range
• 0:47
  Speaker 3: of different meals. You'll have that that that are just different.
• 0:50
  Speaker 1: We had a we had our team Christmas party this
• 0:53
  Speaker 1: past week and I mean we had what a spread
• 0:57
  Speaker 1: we had and we had meat balls, we had little sandwiches.
• 1:01
  Speaker 2: We had.
• 1:03
  Speaker 1: I mean pin will yeah, the pinwheels. We had like
• 1:10
  Speaker 1: a Charcuteri boards. There was like three Charcuterieri boards. I'm like,
• 1:15
  Speaker 1: my gosh. We had a good old time. We played
• 1:19
  Speaker 1: Dirty Santa with the team and luckily it was PG
• 1:25
  Speaker 1: rated drama. Yeah, you know what I didn't realize, Uh,
• 1:31
  Speaker 1: somebody brought some like this, like really nice laundry detergent.
• 1:35
  Speaker 2: Diva is that what it's called? Diva? Holy cow?
• 1:39
  Speaker 1: I don't know what a what a popular thing. I mean,
• 1:41
  Speaker 1: like it got stolen twice and uh, it actually got
• 1:45
  Speaker 1: stolen three times, but we we didn't realize it got
• 1:48
  Speaker 1: stolen the first time, and so we had to like backtrack.
• 1:52
  Speaker 1: But it was it was a fun time. We had
• 1:54
  Speaker 1: a good time with the team. And you know, hopefully
• 1:58
  Speaker 1: y'all that are listening have had fun with your you know,
• 2:01
  Speaker 1: holiday parties so far.
• 2:03
  Speaker 2: And you know, Brad, I am.
• 2:08
  Speaker 1: Looking forward after all these parties get locked in on
• 2:12
  Speaker 1: real estate and have an amazing twenty twenty six.
• 2:15
  Speaker 3: Yeah, for sure, and you know it's it's it's that
• 2:17
  Speaker 3: time of the year, so it's good to do it.
• 2:19
  Speaker 3: But uh, you know, and I'm not you know, that
• 2:22
  Speaker 3: was probably that was the extent of my Christmas parties,
• 2:24
  Speaker 3: and I was kind of a drop in and out,
• 2:26
  Speaker 3: you know, So it's a lot of fun. I just
• 2:29
  Speaker 3: you know, it's like, ah, you know, I can just
• 2:31
  Speaker 3: time to start kicking it back a little bit and
• 2:33
  Speaker 3: start getting on the phone a little bit.
• 2:34
  Speaker 1: So well, we're finishing up the year. I think we're
• 2:37
  Speaker 1: we're definitely going to end better than we did in
• 2:39
  Speaker 1: twenty twenty four, which I'm excited about. Love, love seeing growth,
• 2:46
  Speaker 1: love being in a positive direction. And and so you know,
• 2:52
  Speaker 1: I think you're probably I mean, obviously this is a
• 2:54
  Speaker 1: real estate show, but I want you all to get
• 2:56
  Speaker 1: to know you know, me and and Brad Smith with
• 3:00
  Speaker 1: Cross Country Mortgage, because I think it's important, like when
• 3:03
  Speaker 1: you're when you're working and doing business with us, you
• 3:05
  Speaker 1: need to know about like our lives. So what's going
• 3:08
  Speaker 1: on in our world for sure, things like that. So
• 3:11
  Speaker 1: but I'm really excited about twenty twenty six, Brad, I
• 3:13
  Speaker 1: think I'm I am glad twenty twenty five is coming
• 3:18
  Speaker 1: to an end, and but I feel like twenty twenty
• 3:22
  Speaker 1: six is going to be a good year.
• 3:23
  Speaker 3: Yeah, I agree. I feel like we've been I feel
• 3:27
  Speaker 3: a little bit like a broken record with that outlook.
• 3:29
  Speaker 3: I feel like I've been saying this now. I feel
• 3:31
  Speaker 3: like I feel like twenty twenty two is twenty three,
• 3:34
  Speaker 3: twenty four now twenty five have all been kind of
• 3:36
  Speaker 3: similar or we've kind of not you know, just that
• 3:39
  Speaker 3: post I don't, I mean that's hard to believe we're
• 3:41
  Speaker 3: still talking about it. But kind of post COVID it's
• 3:43
  Speaker 3: been good. Don't get me wrong, but it's been kind
• 3:45
  Speaker 3: of it's been steady, but we haven't had like a
• 3:49
  Speaker 3: I don't feel like a huge increase year over year.
• 3:51
  Speaker 3: It's been a little bit, but not like you know,
• 3:53
  Speaker 3: when you you know there was time for you know,
• 3:55
  Speaker 3: if you enter the fall, you're going to beat records.
• 3:57
  Speaker 3: It didn't matter. Yeah, stuff was just coming. Yeah, and
• 3:59
  Speaker 3: I think you just go to work a little harder
• 4:00
  Speaker 3: right now. But but but but it's but that's there's
• 4:03
  Speaker 3: nothing wrong with that, and it helps, it helps keep
• 4:05
  Speaker 3: the industry tight and most knowledgeable. And I think, but
• 4:09
  Speaker 3: I do think we are positioned well for a great
• 4:14
  Speaker 3: twenty twenty six.
• 4:15
  Speaker 2: Cool well.
• 4:16
  Speaker 1: In our next segment, I want us to touch on
• 4:19
  Speaker 1: you know, there's news of Fannie May that's moving to Birmingham. Yeah,
• 4:22
  Speaker 1: I think that could be an interesting discussion. I do
• 4:25
  Speaker 1: want to talk about what you've seen in the market
• 4:27
  Speaker 1: over the past week, and and then you know, I mean,
• 4:33
  Speaker 1: I guess, I guess we need to you know, at
• 4:35
  Speaker 1: least in this segment, we need to talk about our
• 4:37
  Speaker 1: open houses for.
• 4:38
  Speaker 2: The afternoon and rules of the game. Rules of the game.
• 4:43
  Speaker 2: All right, there you go.
• 4:44
  Speaker 3: All right, So Gussy's going to go through the open
• 4:45
  Speaker 3: houses and the listings and some of the key features
• 4:48
  Speaker 3: of each property, and the end, he's the most important
• 4:50
  Speaker 3: party is going to give the purchase price, at which
• 4:53
  Speaker 3: point I will give a potential down payment that a
• 4:55
  Speaker 3: bar may make, and then Gusty and John will guess
• 4:59
  Speaker 3: the thirty year fixed principal interest only payment.
• 5:02
  Speaker 1: All right, wonderful producer John Mounts always esteemed.
• 5:07
  Speaker 4: I just press buttons, That's what I do.
• 5:09
  Speaker 3: You press them. Well, it's got to be on time.
• 5:11
  Speaker 2: When are you not here, John, at the studio.
• 5:15
  Speaker 4: Between like eleven and two o'clock in the morning.
• 5:17
  Speaker 2: Okay, all right, see there we go.
• 5:20
  Speaker 3: There we go, eleven in the morning.
• 5:23
  Speaker 4: Yeah yeah, yeah, about three hour gap there.
• 5:26
  Speaker 1: We really need a you know, a little a little
• 5:29
  Speaker 1: spread over here so you can you can get a
• 5:32
  Speaker 1: little nap in.
• 5:33
  Speaker 4: Play, get a place upstairs at some point.
• 5:34
  Speaker 3: Okay, put a loft in here and you sleep up.
• 5:37
  Speaker 2: Top for real.
• 5:38
  Speaker 1: Okay, all right, Well we've got our first new listing
• 5:41
  Speaker 1: of the week. It's in Hueytown one three two one,
• 5:45
  Speaker 1: also known as thirteen twenty one, twenty fifth Avenue North.
• 5:49
  Speaker 1: This one was built in nineteen eighty. It sits on
• 5:52
  Speaker 1: just under a quarter acre lot in the Forest Glen
• 5:55
  Speaker 1: subdivision of Hueytown. Three bedrooms and one bath, one thousand
• 6:00
  Speaker 1: an eighty square feet one hundred and ten thousand, one
• 6:04
  Speaker 1: hundred and ten thousand. This one is a brick home,
• 6:08
  Speaker 1: brick rancher for only one hundred ten thousand.
• 6:12
  Speaker 3: All right, well, one hundred and ten thousand. I'm gonna
• 6:15
  Speaker 3: start off putting twenty percent down. Twenty percent down, Gusty,
• 6:19
  Speaker 3: it's on you, all.
• 6:21
  Speaker 2: Right, twenty percent down at one hundred and ten. Hmm, Okay,
• 6:29
  Speaker 2: I'm gonna how about.
• 6:39
  Speaker 1: Not super confident on six twenty five. But let's go
• 6:44
  Speaker 1: with it, Okay, I feel like maybe a smidge higher.
• 6:49
  Speaker 4: I'm gonna say seven hundred. I'm thinking seven hundred.
• 6:56
  Speaker 3: Your smidges to me are always kind of funny because that,
• 6:58
  Speaker 3: to me, that's a little more than a But either way,
• 7:01
  Speaker 3: the payment was five thirty seven, so it was a
• 7:03
  Speaker 3: little lower. Uh, Gusty gets round one.
• 7:07
  Speaker 2: Let's go, let's go. I'm on the board, all right.
• 7:12
  Speaker 1: Hey, we've got an open house this afternoon from one
• 7:16
  Speaker 1: to three in Crisswood, five one three fifty ninth Street. Unfortunately,
• 7:21
  Speaker 1: we had a this home under contract, but the buyers
• 7:25
  Speaker 1: had to sell a house and they couldn't sell their home. Oh,
• 7:28
  Speaker 1: so we were back on the market with five one
• 7:30
  Speaker 1: three fifty ninth Street in Cresswood. This is a three bedroom,
• 7:35
  Speaker 1: two bath bungalow fourteen and sixty square feet. And not
• 7:40
  Speaker 1: only is it back on the market, they came in
• 7:41
  Speaker 1: with a new price of two seventy, so fifteen thousand
• 7:45
  Speaker 1: dollars price drop, which is fantastic for the area. So
• 7:49
  Speaker 1: go see Ashley this afternoon from one to three at
• 7:52
  Speaker 1: five one three fifty ninth Street if Cresswood could be
• 7:56
  Speaker 1: your next home.
• 7:59
  Speaker 3: Yes, two seventy putting five percent down, five percent down
• 8:05
  Speaker 3: to John.
• 8:07
  Speaker 5: Okay, So since I went a little low on the
• 8:08
  Speaker 5: Latin last one, I'm gonna go a little high on
• 8:10
  Speaker 5: this one. I think probably, Uh you went high on
• 8:14
  Speaker 5: the last one.
• 8:15
  Speaker 4: I'm high, That's what I mean. It was lower than
• 8:16
  Speaker 4: I thought it was gonna be.
• 8:17
  Speaker 5: Yeah, paid well gotch Yeah, Yeah, I'm backward today making
• 8:20
  Speaker 5: sure I'm gonna say.
• 8:27
  Speaker 4: Fifteen fifty.
• 8:30
  Speaker 3: Fifteen fifty for John.
• 8:32
  Speaker 2: Alright, I'm gonna go with fifteen hundred.
• 8:37
  Speaker 6: Three minute.
• 8:38
  Speaker 3: The actual payment was fifteen sixty six. John, What a
• 8:43
  Speaker 3: what a recalibration that I know? I was, Man, I'm
• 8:47
  Speaker 3: just gonna just stay with that.
• 8:48
  Speaker 2: One solid right there, John? All right?
• 8:53
  Speaker 3: Our nervousness and his voice after that one, I was sorried.
• 8:57
  Speaker 1: Hey, our next open house of the week, Uh, go
• 9:01
  Speaker 1: see Edwin Seliny at one oh eight Cambrian Way. This
• 9:06
  Speaker 1: is a condo right off of the Inverness Center Parkway.
• 9:12
  Speaker 1: It's on Cambrian Way and the cambrian Wood subdivision right
• 9:16
  Speaker 1: there by Inverness Country Club. Three bedrooms in two and
• 9:19
  Speaker 1: a half baths, seventeen hundred and forty square feet. We
• 9:22
  Speaker 1: are asking two hundred and thirty five thousand, two hundred
• 9:27
  Speaker 1: and thirty five thousand dollars.
• 9:30
  Speaker 3: Two thirty five, putting ten percent.
• 9:33
  Speaker 2: Down, ten percent down.
• 9:35
  Speaker 3: To Augustine, and you get to go see Edwin. I
• 9:37
  Speaker 3: could listen to Edwin read the phone book.
• 9:38
  Speaker 2: Hello, howd'll bride? Edwin is? That's my worst French personation?
• 9:46
  Speaker 1: All right, you said ten percent down? Sorry, okay, I'm
• 9:53
  Speaker 1: gonna go with let's go thirteen sixty.
• 10:05
  Speaker 3: One, thirteen sixty one, all right, John.
• 10:13
  Speaker 5: Since I second guessed myself on the first one, I'm
• 10:15
  Speaker 5: gonna go lower.
• 10:18
  Speaker 4: Twelve fifty.
• 10:22
  Speaker 3: The actual payment was twelve ninety one. John gets round
• 10:26
  Speaker 3: two three. I mean he gets his second one in
• 10:30
  Speaker 3: the third one.
• 10:31
  Speaker 4: How many are two?
• 10:32
  Speaker 3: There's four, okay, so you can only break well, don't attempt.
• 10:37
  Speaker 1: Me, all right, and also open this afternoon from one
• 10:41
  Speaker 1: to three in the Bellevue Heights neighborhoods in Birmingham, fourteen
• 10:45
  Speaker 1: twelve forty second Street. Go see Tony McDaniels at this
• 10:49
  Speaker 1: three bedroom, one and a half bath bungalow, fourteen hundred
• 10:52
  Speaker 1: and forty eight square feet, asking one hundred and twenty
• 10:56
  Speaker 1: five thousand dollars. One hundred and twenty five thousand dollars.
• 11:01
  Speaker 3: This one's to John, and we're gonna do five percent down, okay,
• 11:05
  Speaker 3: the final property.
• 11:07
  Speaker 5: Five percent down. So I'm gonna say seven seventy. I
• 11:19
  Speaker 5: don't know what I'm doing seven seventy. That look on
• 11:26
  Speaker 5: his face, he.
• 11:27
  Speaker 3: No, he knows it's not bad.
• 11:29
  Speaker 1: Guess I'm gonna go with six fifty six fifty.
• 11:34
  Speaker 3: The actual payment was seven twenty five. John gets round.
• 11:38
  Speaker 6: Four and right three for one today. No time breaker needed, Man, clean. Wow,
• 11:47
  Speaker 6: Christmas Day, holidays come early.
• 11:50
  Speaker 4: What do I win again?
• 11:52
  Speaker 2: Bragging rights?
• 11:53
  Speaker 3: You tell your daughter about it on Christmas Day?
• 11:56
  Speaker 1: Bragging rights until we record again, which may be leef.
• 12:01
  Speaker 1: You believe that John tell you what John's getting better.
• 12:06
  Speaker 4: It's like I've been doing this for five years.
• 12:08
  Speaker 2: I mean, for real, no doubt.
• 12:10
  Speaker 3: I knew when you said seven guys. He's like God
• 12:12
  Speaker 3: somewhere somewhere that's not far.
• 12:15
  Speaker 5: If you get those prices that are where I'm used
• 12:17
  Speaker 5: to buying houses in that price range, I'm good. If
• 12:19
  Speaker 5: you have like a like a half million dollar house,
• 12:21
  Speaker 5: I don't know.
• 12:22
  Speaker 3: Listen, I was all excited. I was about to do
• 12:24
  Speaker 3: it just for the fun of the news. The tiebreaker
• 12:27
  Speaker 3: was going to be a fifty year imorgization.
• 12:30
  Speaker 1: Proof.
• 12:31
  Speaker 3: Yeah, we don't have to go there now.
• 12:33
  Speaker 1: Yeah, Hey, we got some VIP buyer needs. I've got
• 12:36
  Speaker 1: a couple looking in the Hoover area or near four
• 12:40
  Speaker 1: fifty nine. We're looking up to about four hundred and fifteen,
• 12:43
  Speaker 1: four hundred and thirty thousand dollars. I've got somebody looking
• 12:47
  Speaker 1: near Rocky Ridge Road up to four hundred thousand. They're
• 12:51
  Speaker 1: a cash buyer. I've got somebody looking in the Edgewood
• 12:54
  Speaker 1: School district. Actually, I have like multiple people looking in Edgewood,
• 12:58
  Speaker 1: mainly renovated or new construction from we'll say seven fifty
• 13:03
  Speaker 1: to two million. I've got somebody looking in the Oak
• 13:08
  Speaker 1: Mountain area. Uh, they are looking up to three hundred
• 13:11
  Speaker 1: and fifty thousand, and then I've got somebody looking in
• 13:15
  Speaker 1: either Brook Highland or Meadowbrook up to well, I'll say.
• 13:20
  Speaker 2: Six hundred thousand, yea for them.
• 13:22
  Speaker 1: So we've got a bunch of VIP buy our needs.
• 13:25
  Speaker 1: If if you've got if you're considering selling a home,
• 13:28
  Speaker 1: please go to Gustygoulisgroup dot com or color Text two
• 13:33
  Speaker 1: O five five four two nineteen ninety six.
• 13:36
  Speaker 2: Hey, guess what time it is.
• 13:40
  Speaker 1: That's right, it's testimonial time. All right, I've got this.
• 13:46
  Speaker 1: This review is from Alex and here it goes. The
• 13:52
  Speaker 1: Gustigouglis Group acted as a seller's agent for one of
• 13:55
  Speaker 1: my investment properties in the Birmingham area. Their performance and
• 14:00
  Speaker 1: efficiency during the listing and sales process was excellent. As
• 14:04
  Speaker 1: a remote owner, the process was completely hands off for
• 14:08
  Speaker 1: me and required very little active involvement. Their analysis of
• 14:13
  Speaker 1: the market was accurate and solid offers were procured shortly
• 14:17
  Speaker 1: after listing. Sell, negotiation and closing was well executed, efficient
• 14:23
  Speaker 1: and clean. I'll definitely utilize the services of the Gusty
• 14:26
  Speaker 1: Gouglist group in the future. So Alex, thank you so
• 14:30
  Speaker 1: much for the opportunity to sell your house and uh
• 14:33
  Speaker 1: for our team. Congratulations on another five star review.
• 14:40
  Speaker 2: All right, that's one.
• 14:43
  Speaker 3: A living that sounds like somebody.
• 14:44
  Speaker 2: That it was good.
• 14:45
  Speaker 3: Yeah.
• 14:46
  Speaker 2: I don't know if there was some check GPT action procured.
• 14:49
  Speaker 5: I heard that, but you know what it is. I
• 14:50
  Speaker 5: think he knew what was gonna be read on the air,
• 14:52
  Speaker 5: so he thought this is sound good.
• 14:53
  Speaker 2: Yeah.
• 14:54
  Speaker 1: If you'd like to be the next five star review
• 14:56
  Speaker 1: read on air, go to Gustygouglis groups dot com.
• 15:01
  Speaker 2: I like that one more than y'all. Y'all just look down.
• 15:05
  Speaker 1: I went with you, Okay, all right, hey, y'all stay tuned.
• 15:09
  Speaker 1: We're gonna go to break. We're gonna talk about Fannie May,
• 15:12
  Speaker 1: what that could impact on Birmingham and what we're seeing
• 15:15
  Speaker 1: in the market right here on Balbart and Soul. Do
• 15:17
  Speaker 1: y'all stay tuned. Welcome back to bal Bart and Soul.
• 15:21
  Speaker 1: Thank you as always for joining us. On the radio
• 15:25
  Speaker 1: show and sometimes you know on the podcast that's on the.
• 15:29
  Speaker 2: Heart radio app. So thank you for joining.
• 15:31
  Speaker 1: If you want to check out any of the last
• 15:33
  Speaker 1: five and a half years, you can. But hey, we
• 15:37
  Speaker 1: had some big news I gotta announce this week, Brad
• 15:40
  Speaker 1: Fanny May is relocating their office from San Francisco, California
• 15:47
  Speaker 1: to Birmingham, Alabama in twenty twenty six, and it looks
• 15:52
  Speaker 1: like they're gonna be bringing in hundreds of jobs and
• 15:57
  Speaker 1: will be a significant economic benefit fit to the state.
• 16:00
  Speaker 1: So first off, I want to say, if you work
• 16:03
  Speaker 1: at Fannie May and looking to move to Birmingham, I
• 16:06
  Speaker 1: want to work with.
• 16:08
  Speaker 3: You hashtag Fannie May.
• 16:10
  Speaker 2: I would love to help in your relocation to Birmingham.
• 16:14
  Speaker 2: Let me show you around.
• 16:15
  Speaker 4: I mean, and sometimes you know, like.
• 16:19
  Speaker 1: Moving across country might be a little bit difficult, right,
• 16:22
  Speaker 1: So you know, if I would just be happy showing
• 16:25
  Speaker 1: you Birmingham and you make a qualified decision, does it
• 16:28
  Speaker 1: make sense for you to relocate you or your family
• 16:30
  Speaker 1: to Birmingham?
• 16:31
  Speaker 2: Right?
• 16:32
  Speaker 1: And but I just want to let everybody know if
• 16:35
  Speaker 1: you're a fan of May employee looking at making the move,
• 16:38
  Speaker 1: the Gusty Goulis Group would love the opportunity to work
• 16:41
  Speaker 1: with you, and you need.
• 16:42
  Speaker 3: To be listening to this show because we give you
• 16:44
  Speaker 3: the details of the market.
• 16:45
  Speaker 2: That's right. That's right.
• 16:47
  Speaker 1: So it sounds like they're going to have like an
• 16:48
  Speaker 1: office space. They want to be downtown Birmingham. We're over
• 16:52
  Speaker 1: in the Lakeview area, so it's you know, I think
• 16:57
  Speaker 1: that people will want to be pretty close in yep.
• 17:01
  Speaker 1: I'm wondering how it's going to impact, Like, are there
• 17:03
  Speaker 1: any other financial businesses that will move to be close
• 17:08
  Speaker 1: to Fannie mae. See, that's that's gonna be the interesting thing.
• 17:10
  Speaker 3: Because I've seen I mean, Fanny May and so just
• 17:15
  Speaker 3: a little bit of just kind of what Fanny Maine
• 17:16
  Speaker 3: and Freddie Mack are, right, Okay, So Fanny Maine and
• 17:18
  Speaker 3: Freddie Mack are really they they are the two largest
• 17:22
  Speaker 3: mortgage purchasers in the world. And so what they do
• 17:25
  Speaker 3: is they basically take loans from the banks, make sure
• 17:27
  Speaker 3: they can securitize them, and then they package them so
• 17:30
  Speaker 3: that they can be put into that bond market and
• 17:31
  Speaker 3: kind of those pools that we've talked about before, what
• 17:33
  Speaker 3: what what drives the rates up and down? And so
• 17:36
  Speaker 3: they're they're the largest two in the world that do it.
• 17:40
  Speaker 3: I mean, Fanny Made has like eighty two hundred employees
• 17:43
  Speaker 3: that work for Fanny Mae, all right, and so obviously
• 17:46
  Speaker 3: that's this is a one headquarters and sent Franis movement,
• 17:49
  Speaker 3: so it's not all eighty two hundred. So they are
• 17:51
  Speaker 3: saying it's hundreds of jobs. I've seen upwards up to
• 17:53
  Speaker 3: two thousand potential jobs. So I've seen numbers from five
• 17:56
  Speaker 3: hundred and two thousand. But to your point, it will
• 17:59
  Speaker 3: be interesting to see because they're you know, they're they're different.
• 18:01
  Speaker 3: They're obviously, uh companies that are tailored or work directly
• 18:07
  Speaker 3: with Fannie May. And you know how many of them
• 18:10
  Speaker 3: that may be part of their you know, kind of
• 18:13
  Speaker 3: branch in San Francisco that will that will you know,
• 18:16
  Speaker 3: want to move their businesses to stay closer to them.
• 18:18
  Speaker 3: So I think that's got some good residual impact there
• 18:20
  Speaker 3: that we're going to see. And you know, the other
• 18:24
  Speaker 3: thing that's gonna do, it's gonna you know, I think
• 18:25
  Speaker 3: it's going to give us some opportunities to in my
• 18:29
  Speaker 3: industry to hopefully be able to get involved with some
• 18:33
  Speaker 3: of maybe some pilot programs or do something else. And
• 18:37
  Speaker 3: that that may have some some benefits. I don't know
• 18:39
  Speaker 3: how that works, but I could see some things there
• 18:42
  Speaker 3: that that will get to be maybe hopefully be a
• 18:44
  Speaker 3: part of being you know, cross Country is the largest
• 18:47
  Speaker 3: is the largest UH retail mortgage lender, which so I
• 18:51
  Speaker 3: mean like we're we're actually boots on the ground, so
• 18:54
  Speaker 3: hopefully that you know, we we have strong relationships with
• 18:56
  Speaker 3: Fanny already as a company, So I'm hoping to see
• 18:59
  Speaker 3: some benefits some stuff that could come from that, just
• 19:01
  Speaker 3: what we'll be able to offer. And but it's also
• 19:05
  Speaker 3: going to be good for people in our industry that
• 19:06
  Speaker 3: maybe looking for a career change, because not everybody that
• 19:09
  Speaker 3: works with Fanny's gonna want to move from San Francisco.
• 19:12
  Speaker 3: But they're not all going to come, and so they're
• 19:13
  Speaker 3: going to be hiring new people and looking out for
• 19:15
  Speaker 3: other other other potential candidates that that are already here
• 19:19
  Speaker 3: local that may be great opportunity to get into Fanny
• 19:21
  Speaker 3: Mail and have some relationships that may get opportunities in there.
• 19:24
  Speaker 2: We have such a big banking town.
• 19:26
  Speaker 3: Exactly, so I mean it's just it just it fits.
• 19:28
  Speaker 3: I mean, the whole the whole thing. Does it makes sense? Right,
• 19:31
  Speaker 3: It's not. It's not like you know, you're not extracting
• 19:34
  Speaker 3: something and putting like, well that's that's never gonna work
• 19:36
  Speaker 3: in Birmingham, right, I mean.
• 19:38
  Speaker 1: This is, this is and I bet you we'll see
• 19:39
  Speaker 1: we'll see some like relocation, especially from Charlotte. Yep, you
• 19:43
  Speaker 1: know people from Charlotte, you know. I mean I've we've
• 19:46
  Speaker 1: worked on both sides, people moving to Charlotte back from
• 19:48
  Speaker 1: Charlotte and our relocation with some of the banks well
• 19:51
  Speaker 1: through the years. And I think with this move again,
• 19:53
  Speaker 1: like you're saying it's hard for people to make a
• 19:56
  Speaker 1: cross country move. Yes, so not as in cross country mortgage,
• 20:00
  Speaker 1: but literally no, across the country.
• 20:02
  Speaker 2: It's hard for that.
• 20:04
  Speaker 1: And so I do think like any of your financial
• 20:06
  Speaker 1: sectors like Charlotte here, like you're, those folks are gonna
• 20:10
  Speaker 1: have some create some opportunities where they can get some
• 20:13
  Speaker 1: probably pretty good jobs.
• 20:14
  Speaker 4: Well.
• 20:15
  Speaker 3: And and I mean, let's just be honest, there's gonna
• 20:17
  Speaker 3: be some people that go like, I ain't moved. I'm
• 20:19
  Speaker 3: you know, they're not gonna say I ain't, but you
• 20:20
  Speaker 3: know they're gonna say I'm not moving to Alabama. I mean,
• 20:23
  Speaker 3: there's just gonna be some of them. Like I'm not
• 20:24
  Speaker 3: going to Alabama. You know that you get you've got
• 20:26
  Speaker 3: you got this little you know, notion in your heads,
• 20:28
  Speaker 3: and you're gonna have some of that. But yeah, I mean,
• 20:31
  Speaker 3: you know, and and then and not to be you know,
• 20:34
  Speaker 3: not to say what you should think politically or any
• 20:36
  Speaker 3: of that kind of stuff. But this was a direct
• 20:38
  Speaker 3: correlation to Tommy Tellville Senator fighting hard to get this
• 20:43
  Speaker 3: pull and then Trump rewarding Alabama for being a strong
• 20:45
  Speaker 3: supporter of his and wanted to make sure. So Pulty
• 20:48
  Speaker 3: from the from the also was involved with this. But
• 20:51
  Speaker 3: I mean those three really did a good job of
• 20:54
  Speaker 3: making sure that Alabama got this and got kind of
• 20:56
  Speaker 3: a small little stimulus and bump up. And so I mean,
• 21:00
  Speaker 3: you know, give credit where that credit's due, because that
• 21:02
  Speaker 3: has been directly contributed by those those people making that happen.
• 21:08
  Speaker 3: So yeah, again, whether you like anything else they do
• 21:11
  Speaker 3: or not, this is good for the state of Alabama
• 21:13
  Speaker 3: and great for jeff.
• 21:14
  Speaker 1: Huge for Jefferson County, huge for Birmingham. We're going to
• 21:18
  Speaker 1: see impacts in Shelby County, We'll see impacts in Saint
• 21:20
  Speaker 1: Clair County. And I'm excited about the job growth and
• 21:25
  Speaker 1: we would love to take care of you and help
• 21:27
  Speaker 1: you out in that process of making the move to Birmingham, Alabama.
• 21:31
  Speaker 3: It's just it's just a good look when it comes
• 21:34
  Speaker 3: across the business wire for everybody that's paying attention to
• 21:36
  Speaker 3: these things all across the country. You know, it's just
• 21:39
  Speaker 3: a good it's just a good flag to putting them out.
• 21:42
  Speaker 1: It'll be interesting to see how the other other companies
• 21:45
  Speaker 1: and stuff. Now, what have you been seeing from a
• 21:47
  Speaker 1: mortgage rate wise so this past week?
• 21:49
  Speaker 3: Yeah, so mortgage archs have come down a little bit
• 21:50
  Speaker 3: this week, So that's good thirty year average probably dropping
• 21:53
  Speaker 3: closer to like six point one. On that world, we're
• 21:56
  Speaker 3: still seeing stuff in the mid mid fives depending on
• 21:59
  Speaker 3: what you're looking it doing in different loan programs. Inflation
• 22:03
  Speaker 3: is cooling. I mean, everything that we got this week
• 22:06
  Speaker 3: from inflation was positive for what we're wanting for mortgage rates,
• 22:09
  Speaker 3: and so a lot of a lot of you know,
• 22:13
  Speaker 3: I mean, when you're when they're when they're expecting you know,
• 22:15
  Speaker 3: a growth of three percent and it comes in at
• 22:17
  Speaker 3: two point six.
• 22:18
  Speaker 2: That's a that's a big difference.
• 22:19
  Speaker 3: It's a big, big, big number that was below expectation.
• 22:23
  Speaker 3: So that's that should help push some of the Federal
• 22:26
  Speaker 3: Reserve members to really get more dubvish and be good
• 22:30
  Speaker 3: with another rate decrease, especially as we see the job
• 22:33
  Speaker 3: market continue to kind of show weaker signs. So I
• 22:36
  Speaker 3: think that's only been positive and going to be great
• 22:38
  Speaker 3: for what mortgage rates are going to do here in
• 22:40
  Speaker 3: the next thirty sixty ninety days.
• 22:42
  Speaker 1: Well, you know, I think last week I told you
• 22:44
  Speaker 1: we were in a multiple offer situation and didn't get it.
• 22:49
  Speaker 1: Same couple multiple offer situation, and we didn't get it
• 22:54
  Speaker 1: because we did not remove the inspection contingency. We actually
• 22:59
  Speaker 1: had a better off, except we had a three day
• 23:02
  Speaker 1: inspection period and the other or at least one of
• 23:06
  Speaker 1: our main competitors on this house and Hoover, they removed
• 23:11
  Speaker 1: their inspection contingency, and so.
• 23:13
  Speaker 4: You know, my folks were fine.
• 23:14
  Speaker 1: They were like, look, you know, it's hard to remove
• 23:18
  Speaker 1: an inspection contingency. Now, if we would have had probably
• 23:20
  Speaker 1: more time to review bids, we maybe could have gotten
• 23:25
  Speaker 1: a home inspector in there in advance to say, hey,
• 23:28
  Speaker 1: like but it was just it was such a tight
• 23:32
  Speaker 1: timeline that we tried. But you know, it's a lot
• 23:37
  Speaker 1: of our conversations this past week have been getting houses
• 23:40
  Speaker 1: ready for the market in twenty twenty six, so that's
• 23:43
  Speaker 1: really going to be the theme over the next I'd
• 23:46
  Speaker 1: say two to four weeks. We'll still have more homes
• 23:50
  Speaker 1: coming on the market in that time period, but a
• 23:52
  Speaker 1: lot of plans for you know, after the holidays. So
• 23:55
  Speaker 1: speaking of holidays, I want to wish you a happy holidays,
• 23:58
  Speaker 1: Merry Christmas to all of you. Thank you so much
• 24:01
  Speaker 1: for listening to our show and uh gotta lead the
• 24:05
  Speaker 1: years almost over. I can't believe it. Thanks so much
• 24:07
  Speaker 1: for joining us, y'all. Ry Christmas, wonderful time.
• 24:10
  Speaker 2: Yeah,