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The Calm before the Storm · Bought Borrowed and Sold

• 0:00
  Speaker 1: Welcome to balt Bart and Soul. Thanks so much for
• 0:03
  Speaker 1: joining us. And uh yeah, man, hey, Brad Smith hanging
• 0:08
  Speaker 1: out with us in the studio from Cross Country Mortgage.
• 0:12
  Speaker 1: What's that, Brad?
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  Speaker 2: That's me? I mean, I'm good. How are you? I'm good.
• 0:16
  Speaker 1: I'm I'm just dandy. We're gonna be talking about we
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  Speaker 1: got a couple of open houses today. We're gonna be,
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  Speaker 1: you know, talking about the real estate market, the mortgage market.
• 0:27
  Speaker 1: And you know, I think it's gonna be a good
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  Speaker 1: day to day. What do you think?
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  Speaker 2: A great day?
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  Speaker 1: All right? All right, Tony the Tiger of great No,
• 0:39
  Speaker 1: that wasn't That wasn't. Hey. So I want to give
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  Speaker 1: some shout outs. I don't remember if I did this
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  Speaker 1: last week or not, but I want to give a
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  Speaker 1: shout out to Chasin Heberling first deal under contract. I
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  Speaker 1: may have done it, but it deserves two weeks in
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  Speaker 1: a row.
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  Speaker 3: If I did, yeah, I think we mentioned it, but
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  Speaker 3: I think it was still like not, you know, we
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  Speaker 3: didn't work.
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  Speaker 1: First contract on the real estate team Chasing Heberling. So
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  Speaker 1: I just wanted to send out a special congratulations to
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  Speaker 1: you and uh and then also I want to shout
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  Speaker 1: out Kyle Bedgod, dude's got like eight homes in our contract.
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  Speaker 1: Like he's on a roll the hammer. I'm like, let's go.
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  Speaker 1: Uh So, you know that kind of gives you a
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  Speaker 1: little bit of insights on what we'll talk about in
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  Speaker 1: the next segment, being the real estate market, yeah and
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  Speaker 1: all that fun stuff. But you know it's uh, we're right.
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  Speaker 1: You know, I'm gonna talk about the calm before the storm. Yeah,
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  Speaker 1: later later on. So I'm just gonna tease that good calm,
• 1:38
  Speaker 1: good before the storm. How about that.
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  Speaker 3: I'm glad you have that because there's not as much
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  Speaker 3: mortgage updates this week it was last week, so I
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  Speaker 3: don't I don't have near as much that I need
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  Speaker 3: to be.
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  Speaker 1: Just calm before the storm.
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  Speaker 2: Let's do it.
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  Speaker 1: And uh so we'll talk about that in our next segment.
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  Speaker 1: But you know, we got some we got some open
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  Speaker 1: houses that we need to talk about. So let's let's
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  Speaker 1: play the game and uh let's give the rules out
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  Speaker 1: to our listeners.
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  Speaker 2: Yeah.
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  Speaker 3: So Gus he's going to go through the properties they've
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  Speaker 3: got today and then he's going to go through some
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  Speaker 3: of the fine details of the property. At the end,
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  Speaker 3: he's gonna give us the list price, and then I
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  Speaker 3: will give a potential down payment that a borrower may
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  Speaker 3: make on that property, and Gusty and John Mounts will
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  Speaker 3: take their best chance at guessing the thirty year fixed
• 2:20
  Speaker 3: monthly payment Princeville interest only.
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  Speaker 2: I'm trying to factor anyes question.
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  Speaker 1: Yeah, all right, So our first new listing of the
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  Speaker 1: week happens to be one of my flips. Been working
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  Speaker 1: on this one for a while, Very excited at this
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  Speaker 1: how this home turned out. This is in Hoover to
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  Speaker 1: eighty nine Laredo Drive. This is actually in the country
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  Speaker 1: Club Highlands neighborhood right there, right off of Hoover country Club. Now,
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  Speaker 1: I want you to think about like what you typically
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  Speaker 1: see in a renovation of a home in like Vestavia
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  Speaker 1: or Mountain Brook, and that's really what we brought to
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  Speaker 1: this house on Laredo. We came in, we ripped up
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  Speaker 1: all the flooring. We put in new hardwood floors on
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  Speaker 1: the main level. In the upstairs, we put in new tile,
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  Speaker 1: basically this marble, career marble looking just absolutely gorgeous tile.
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  Speaker 1: In the bathrooms, We've got four bedrooms in three and
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  Speaker 1: a half baths. We've got a two car garage, and
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  Speaker 1: then in one of the bays, like literally you could
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  Speaker 1: probably stack two or three cars. You could stack a
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  Speaker 1: boat in there, you could stack an ATV, your four wheeler,
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  Speaker 1: whatever you want to do. Like the whole like one
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  Speaker 1: bay of the whole house is wide open. That's cool,
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  Speaker 1: ready for you. We've got two brand new hvacs. The
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  Speaker 1: roof is like twenty twenty two. Got a brand new
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  Speaker 1: water heater in here. We completely changed the kitchen and
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  Speaker 1: so we've got custom cabinets, we've got stainless appliances. We've
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  Speaker 1: got this leathered quartz that is gorgeous. We've got a
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  Speaker 1: whole and actual we changed the floor plan on the
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  Speaker 1: main level and made it a an actual primary bath
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  Speaker 1: on the main level with also we added a half bath.
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  Speaker 1: So we've actually got two primary suites on this house.
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  Speaker 1: That's one on the main level, one upstairs. So if
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  Speaker 1: you've got like a teenager, you've got a parent, you
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  Speaker 1: could have them upstairs. But this is really one of
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  Speaker 1: this is actually probably one of my favorite houses we've
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  Speaker 1: ever flipped. And brand new deck as well, new paint
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  Speaker 1: on the interior, the X tier, new new flagstone patio
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  Speaker 1: on the stoop, this beautiful flagstone brand new door, like
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  Speaker 1: I mean, we would we went to the nines on this.
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  Speaker 3: I' about say that's that's that's a lot and that's
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  Speaker 3: that's pretty cool.
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  Speaker 2: Yeah.
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  Speaker 1: Yeah. So anyways, twenty six and seventeen square feet on
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  Speaker 1: the main two levels, another four hundred and thirty nine
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  Speaker 1: square feet in the finished downstairs base meant den daylight
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  Speaker 1: den by the way. Yeah, and Isaac Marvin's got this
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  Speaker 1: one listed for us. So uh and we're priced it
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  Speaker 1: below a praise value.
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  Speaker 3: Nice, Okay, so this is a big win. That's a
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  Speaker 3: big win. Five ninety nine nine, five nine, five percent down,
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  Speaker 3: five percent down, gusty, you get to go.
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  Speaker 1: First, Okay, five percent down on five ninety nine. I
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  Speaker 1: believe that is gonna put us around. Hmmm. I'm gonna
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  Speaker 1: go with I don't know, let me go with thirty
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  Speaker 1: six oh one, just because I wanted to make it
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  Speaker 1: complicated for Brad.
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  Speaker 4: I'll go I'll go a little bit lower. I'm gonna
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  Speaker 4: go thirty two hundred.
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  Speaker 2: Okay, I'd call that a lot lower.
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  Speaker 5: Okay, I'm gonna go a lot longer, a lot lower, more.
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  Speaker 2: More than ten percent. To me, he's a lot lower.
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  Speaker 5: Okay, Okay, I'm going to go thirty four hundred.
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  Speaker 3: It doesn't really matter the actual payment, just three thousand,
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  Speaker 3: six hundred and three dollars. Yeah, holy cow. It was
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  Speaker 3: actually like, is that like thirty six two seventy four
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  Speaker 3: and I rounded up?
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  Speaker 1: Holy But that's.
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  Speaker 5: How I was sitting over going like it's like gust
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  Speaker 5: he works in this business.
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  Speaker 2: I was like, I was like, he didn't make that
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  Speaker 2: more difficult for me at all. Two dollars.
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  Speaker 1: Yeah, all right, Well there you go. I'm I'm your guy.
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  Speaker 1: I'm your guy. You know, I'm just making up.
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  Speaker 2: For like I think it's his flip. He's run every scenario.
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  Speaker 5: I was going to say, I think he's probably number kidd.
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  Speaker 2: I'm really having I'm kidding.
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  Speaker 1: I'm really just making up for a couple of weeks
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  Speaker 1: ago when John beat me two weeks in a row.
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  Speaker 2: He did. I've got a sheet right here, it's official.
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  Speaker 1: All right, we've got open this afternoon. By the way,
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  Speaker 1: that one is open two to four, so go see
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  Speaker 1: Isaac two eighty nine Larraed Drive. We also have a
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  Speaker 1: couple more open houses we've got in Homewood sixteen oh
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  Speaker 1: four forest Ridge Road. This one is a three bedroom,
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  Speaker 1: two bath. This one is a split level rancher. It
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  Speaker 1: also has a pool, two car garage. It's fifteen hundred
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  Speaker 1: and thirty five square feet on the main levels, another
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  Speaker 1: three hundred and twenty six square feet finished in the basement.
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  Speaker 1: It's over in the Forest Brook community and we're only
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  Speaker 1: asking four hundred and thirty five thousand for this house.
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  Speaker 1: I think being in Homewood with a pool, I mean,
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  Speaker 1: that's pretty sweet. Go see TJ. Cunningham this afternoon from
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  Speaker 1: two to four.
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  Speaker 2: Two to four, four to thirty five.
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  Speaker 3: Ten percent down, ten percent down, ten percent down, ten
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  Speaker 3: percent down to mister Mounts.
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  Speaker 5: Okay, I'm gonna go with how about uh, I don't
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  Speaker 5: know twenty eight hundred.
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  Speaker 1: You said ten percent down.
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  Speaker 6: H I'm gonna go with.
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  Speaker 1: Twenty six oh one.
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  Speaker 3: Twenty six oh one. It was actually two thousand, four
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  Speaker 3: hundred and seventy.
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  Speaker 1: There we go.
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  Speaker 5: Man, we were off, but I was off by more.
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  Speaker 1: But you define off by more, all right. And also
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  Speaker 1: open this afternoon from two to four to see Carlo
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  Speaker 1: Dilaberto at three thousand and five Overlook Lane. This is
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  Speaker 1: the mansion in Fulton Dell, sitting on three point three
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  Speaker 1: acres eight thousand, eight hundred and sixty four square feet.
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  Speaker 1: Yeah cool, I said, eight thousand, eight hundred and sixty
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  Speaker 1: four square feet, five bedrooms, six and a half bass.
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  Speaker 1: This was built in two thousand and eight. It is
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  Speaker 1: in the Chapel Hills neighborhood. It sits on three lots.
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  Speaker 1: It's got an incredible pool, it's got an uh eight
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  Speaker 1: car garage.
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  Speaker 5: I mean, who's counting this?
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  Speaker 2: Listen. You can make this a compound.
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  Speaker 1: I mean you really could.
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  Speaker 3: I mean, I mean you've got all kinds of options
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  Speaker 3: where families can live there.
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  Speaker 1: One point four million, one point four million, and uh,
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  Speaker 1: I mean you could not build this house for that
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  Speaker 1: for this price, which is which is wild. So, and
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  Speaker 1: it's got this like this, it's got let's see one
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  Speaker 1: two three, it's got six columns in the front. So
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  Speaker 1: it's got this like old it's like brick rancher meets
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  Speaker 1: colonial style. It's freaking gorgeous.
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  Speaker 2: Yeah.
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  Speaker 3: I've gone a lot a couple of times and looked
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  Speaker 3: at that one. Just look at the pictures again, and
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  Speaker 3: it is really cool. Yeah, cool property.
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  Speaker 1: All right, So one point four million.
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  Speaker 3: One point four million, Yeah, putting twenty percent down, Okay,
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  Speaker 3: twenty percent down on one point four million dollars.
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  Speaker 1: One million dollars.
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  Speaker 5: Where's doctor Eve when you need them?
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  Speaker 2: Yeah?
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  Speaker 1: Ummm, you said twenty percent down, twenty percent down.
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  Speaker 3: Okay, I'm gonna go with bite my lip on my joke,
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  Speaker 3: coming back to mister evil doctor Evils. I'm gonna go
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  Speaker 3: seven thousand, seven thousand dollars for Gusty.
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  Speaker 4: Let's see, so, even twenty percent down, you're still financing
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  Speaker 4: over a million dollars.
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  Speaker 2: You're financing over a million dollars.
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  Speaker 4: Uh, I don't know seventy five hundred.
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  Speaker 5: I have nothing to base.
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  Speaker 3: That on seventy five hundred. Let's do some quick computing,
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  Speaker 3: all right. The actual payment was seven thousand, two hundred
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  Speaker 3: and sixty four dollars. John keeps it from a.
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  Speaker 1: Barely barely How did I do that?
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  Speaker 5: About fifteen dollars?
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  Speaker 1: Man? Look out, well, at.
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  Speaker 3: Least all got the guy that had like dead in
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  Speaker 3: the middle where it was pretty easy.
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  Speaker 4: What I did was I based it on like a
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  Speaker 4: house that was like one hundred thousand dollars and then
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  Speaker 4: slid the place over by one.
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  Speaker 1: That's pretty smart, actually, you know, very good, very good,
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  Speaker 1: solid solid. All right, Hey, we've got some VIP buyer needs.
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  Speaker 1: We've been talking about a couple of these folks for
• 11:15
  Speaker 1: a little bit, so that means you need to listen
• 11:18
  Speaker 1: extra carefully. Right here, we are looking for a home
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  Speaker 1: in Bluff Park that needs a little bit of work.
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  Speaker 1: They want a nice lot and they are willing to
• 11:28
  Speaker 1: do renovations on it, and they are willing to pay
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  Speaker 1: up to four hundred and twenty five thousand and then
• 11:32
  Speaker 1: spend money on a renovation.
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  Speaker 2: So nice.
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  Speaker 1: That is one that we're looking for pretty heavily. If
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  Speaker 1: you've got somebody, if you've got a house that matches that,
• 11:43
  Speaker 1: or know of somebody that might be interested in selling,
• 11:46
  Speaker 1: gustygoulesgroup dot com, or you can call or text two
• 11:49
  Speaker 1: oh five five four to two nineteen ninety six. We've
• 11:52
  Speaker 1: also got somebody that's looking for a single story home
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  Speaker 1: with a pool in Shelby County. They have increased their
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  Speaker 1: price range up to five hundred that so it was
• 12:01
  Speaker 1: four twenty five, went to four fifty. Now we're at
• 12:04
  Speaker 1: five hundred. So we are looking for a single story
• 12:08
  Speaker 1: with a pool in Shelby County. We've also got somebody
• 12:12
  Speaker 1: that's looking in Hoover. They are looking in the Lakeview
• 12:17
  Speaker 1: or Oakwood neighborhood Lakeview, is that one that's across from
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  Speaker 1: uh like that that Walmart over there, that's and that
• 12:26
  Speaker 1: there's a couple of the car places and so they're
• 12:30
  Speaker 1: looking for something with main level living in up to
• 12:32
  Speaker 1: four hundred thousand. So those are some of our the
• 12:36
  Speaker 1: hottest fires. I do have a couple of folks that
• 12:37
  Speaker 1: are coming in town. We've got folks that are looking
• 12:40
  Speaker 1: in Edgewood. But I mean, ultimately, what I would tell
• 12:44
  Speaker 1: you is, if you're listening and you're considering selling, just
• 12:47
  Speaker 1: call our team two five five four two nineteen ninety
• 12:49
  Speaker 1: six or go to Gustygulisgroup dot com. We may be
• 12:52
  Speaker 1: able to help put a deal together, you know, off
• 12:56
  Speaker 1: market or even on market. I mean, you know, you
• 12:58
  Speaker 1: never know in a role. So anyways, that's our vip by,
• 13:02
  Speaker 1: our news buy our needs. But hey, guess what time
• 13:05
  Speaker 1: it is. That's right, it's testimonial time.
• 13:11
  Speaker 2: Man.
• 13:12
  Speaker 1: That's that was like loud. That was real loud, and
• 13:15
  Speaker 1: I liked it. He wait, hey enthusiastic early on in
• 13:21
  Speaker 1: the morning. Hey, you gotta you gotta be like the
• 13:23
  Speaker 1: coffee's kicking, You're ready to rock.
• 13:25
  Speaker 2: Got that little little extra.
• 13:28
  Speaker 1: All right? So this one, Uh says working with Alita
• 13:32
  Speaker 1: has been a fantastic experience. She is incredibly knowledgeable, a tentative,
• 13:36
  Speaker 1: and dedicated to finding the perfect property. Alita's professionalism and
• 13:40
  Speaker 1: commitment made the entire process smooth and stress free, and
• 13:43
  Speaker 1: I continue to work with her today for our real
• 13:45
  Speaker 1: estate needs. I highly recommend Alita to anyone looking to
• 13:49
  Speaker 1: buy or sell with confidence and ease. So UH, thank
• 13:53
  Speaker 1: you so much for the opportunity to help you find
• 13:56
  Speaker 1: your perfect place. And congratulations to Alita on another five
• 14:01
  Speaker 1: star review. And last, but not least today is this
• 14:07
  Speaker 1: one goes out to Riley. Going through my home buying process,
• 14:10
  Speaker 1: I used a number of real estate agents. However, Riley
• 14:14
  Speaker 1: would stood out above all of the others due to
• 14:16
  Speaker 1: his high level of responsiveness, updates and check ins. He
• 14:21
  Speaker 1: had great advice and counsel along the way, and if
• 14:23
  Speaker 1: I had to purchase another home or sell my current one,
• 14:26
  Speaker 1: I would use him again. So congratulations on your new
• 14:31
  Speaker 1: home and congratulations to Riley.
• 14:33
  Speaker 3: On another five star reviews.
• 14:38
  Speaker 1: There it is the reviews this week. Man. If you
• 14:44
  Speaker 1: would like to be the next five star review, you
• 14:47
  Speaker 1: know where to go. Gusigilisgroup dot com, but Hey, stay tuned.
• 14:52
  Speaker 1: We're going to talk about what we're seeing in the
• 14:53
  Speaker 1: mortgage market, the real estate market, the calm before the
• 14:56
  Speaker 1: storm right here on Barred and Sold, all right, welcome
• 15:01
  Speaker 1: back to Bob Bard and Sold. And you know I'm
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  Speaker 1: calling I'm calling the next six months the calm before
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  Speaker 1: the storm. Okay, Brad, I see it, calm before the storm.
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  Speaker 1: And here's why. You know, we've we've talked about for
• 15:18
  Speaker 1: for months trying to get these interest rates down, and
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  Speaker 1: finally they've been kind of moving down. We've got the
• 15:27
  Speaker 1: federal funds rate, which doesn't directly impact the mortgage rates,
• 15:31
  Speaker 1: but I would say it indirectly impacts the mortgage rates well.
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  Speaker 3: And again we know it's indirect because you know, again
• 15:37
  Speaker 3: we get the benefits for it before it's announced once
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  Speaker 3: once the kind of the that's where the odds are going.
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  Speaker 3: So so so we're kind of we're we're getting the effects,
• 15:44
  Speaker 3: but it's not a direct Hey, we're dropping this rate
• 15:47
  Speaker 3: of quarter, so everything drops a quarter like so so
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  Speaker 3: that's the part I think is the confusing part for
• 15:51
  Speaker 3: some people, Like, yeah, it affects it, but it's not
• 15:53
  Speaker 3: like you don't hear the announcement and start calling saying
• 15:56
  Speaker 3: a mortgage ate a quarter percent lower.
• 15:58
  Speaker 1: No, not exactly, so the big thing in my opinion.
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  Speaker 1: So I was talking to a commercial real estate agent
• 16:06
  Speaker 1: buddy of mine and he's like, dude, he goes, man,
• 16:10
  Speaker 1: my phone has been ringing off the hook. People are like,
• 16:14
  Speaker 1: they're they're looking at making deals. He's like, I'm going
• 16:17
  Speaker 1: out of town to do some site selections. He's like,
• 16:20
  Speaker 1: he's amped up, and I'm like, so that that gets
• 16:22
  Speaker 1: me amped up. I'm like, let's go.
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  Speaker 2: Yeah.
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  Speaker 1: And then I'm talking to another friend of mine that
• 16:27
  Speaker 1: is basically the head credit risk officer for a bank,
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  Speaker 1: and he's predicting one more rate cut this year and
• 16:38
  Speaker 1: four rate cuts next year. And you know, if we're looking,
• 16:44
  Speaker 1: so let's say hypothetically that's accurate. M hm okay, So
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  Speaker 1: I'm gonna guess that's five rate cuts. I'm gonna guess
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  Speaker 1: each rate cut is probably a quarter percent, so that's
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  Speaker 1: probably one point two five on a rate cut over
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  Speaker 1: the next We'll say, you know year and you know,
• 17:05
  Speaker 1: five quarters. And so what that will do is it
• 17:11
  Speaker 1: should take our interest rates down to mid to low fives.
• 17:17
  Speaker 1: Should So all right, we're talking hypothetically, and i'd love
• 17:21
  Speaker 1: your feedback when we get you know, in a minute.
• 17:24
  Speaker 1: So the call before the storm. So imagine like right
• 17:28
  Speaker 1: now is typically the time that you know, the people
• 17:31
  Speaker 1: that are buying, there's got to be a pretty big
• 17:33
  Speaker 1: need for them to buy. This is not our typical
• 17:36
  Speaker 1: selling season. We still I mean, like we're all, I mean,
• 17:39
  Speaker 1: we're selling.
• 17:40
  Speaker 2: You know, the.
• 17:41
  Speaker 1: Market's always moving, thirty homes a month, We're we're always moving.
• 17:45
  Speaker 1: But right now, like selling season to me in our
• 17:50
  Speaker 1: market is March through July.
• 17:52
  Speaker 2: Correct.
• 17:52
  Speaker 1: Okay, So what I think the next six months is
• 17:57
  Speaker 1: this is the perfect opportunity if you are a home
• 17:59
  Speaker 1: buyer to get into a house with probably no multiple offers.
• 18:06
  Speaker 1: There might be some houses that have multiple offers, but
• 18:09
  Speaker 1: probably less multiple offer competition, just less competition period. But
• 18:17
  Speaker 1: if you're a buyer, you've got a little bit more
• 18:18
  Speaker 1: negotiating room. You've got the ability to maybe negotiate some concessions,
• 18:23
  Speaker 1: whether that's the closing cost assistance, maybe that's a buy
• 18:27
  Speaker 1: down for a rate, maybe that's to negotiate price, who
• 18:32
  Speaker 1: knows what. But I think in the next six months
• 18:35
  Speaker 1: is going to be the great opportunity to do that.
• 18:38
  Speaker 1: But when it in that six months when when March
• 18:41
  Speaker 1: rolls around, I'm thinking multiple offer situations, less negotiation. I mean,
• 18:47
  Speaker 1: you're gonna have to figure out how to get a
• 18:50
  Speaker 1: deal done because rates I think will be in we'll
• 18:55
  Speaker 1: say six low and probably high fives at that point. Well,
• 19:01
  Speaker 1: I mean that's gonna get people in the market. And
• 19:03
  Speaker 1: I really do think this is my opinion. I think
• 19:07
  Speaker 1: a mid five is a perfect market from an interest
• 19:10
  Speaker 1: rate standpoint one hundred percent.
• 19:12
  Speaker 3: I mean, that's that's really the goal. And that's what
• 19:14
  Speaker 3: I've been saying this whole time, Like mid fives. You know,
• 19:17
  Speaker 3: if it teeters a little bit of a blow five
• 19:19
  Speaker 3: and a half or a little bit above five and
• 19:20
  Speaker 3: a half, like that's a pretty balanced market. And so
• 19:23
  Speaker 3: that means and for that to happen, that means employment steady.
• 19:27
  Speaker 3: Not it's not we're not having big issues there, but
• 19:29
  Speaker 3: there's you know, we're gonna have We're getting a little
• 19:31
  Speaker 3: bit on that, but not anything crazy. Still unemployments still
• 19:34
  Speaker 3: low historically, but it's creeping up and then starting to
• 19:39
  Speaker 3: see the inflation numbers really coming down where they want
• 19:41
  Speaker 3: them to and kind of slowing at the pace that
• 19:43
  Speaker 3: they're they're wanting it slow down to and I think
• 19:46
  Speaker 3: we're gonna get that, and so it's a lot with them.
• 19:49
  Speaker 3: Continue to lower rates if that's what they do, because
• 19:51
  Speaker 3: these other things are cooperating. To your point, I'm with you,
• 19:54
  Speaker 3: like it's already gonna be atle bit slow. It's we're
• 19:57
  Speaker 3: kind of getting that slower down season and rates coming down.
• 20:00
  Speaker 3: You know, what we're seeing is from year over year,
• 20:03
  Speaker 3: we'll be up from where were last year, but it's
• 20:05
  Speaker 3: not that big, you know, ready to roll and so on.
• 20:08
  Speaker 3: If we can get at the end of the year
• 20:10
  Speaker 3: be right at five you know, five point nine nine
• 20:12
  Speaker 3: or right you know, teetering there, and in January we
• 20:15
  Speaker 3: start seeing five point seventy five or five point six
• 20:17
  Speaker 3: two five or whatever. We're lucky to get there, and
• 20:20
  Speaker 3: then the buyer season hits in March. Like you were
• 20:21
  Speaker 3: talking in a rate sort of that's sitting there in
• 20:23
  Speaker 3: the upper fives, mid fives. Hold onto your hats, here
• 20:28
  Speaker 3: we go.
• 20:29
  Speaker 1: I mean, we'll see some price appreciation, you know, so
• 20:33
  Speaker 1: the negotiations is going to be, you know, come few
• 20:36
  Speaker 1: and far between.
• 20:37
  Speaker 3: Well, I'd also say, if that's something that you've like
• 20:39
  Speaker 3: you've been thinking about for a year, year two years
• 20:42
  Speaker 3: and kind of waiting to see like you didn't have
• 20:44
  Speaker 3: to do anything, but you know you kind of need
• 20:46
  Speaker 3: to do something like and you're in a house now
• 20:48
  Speaker 3: or night in the house. But if you are in
• 20:49
  Speaker 3: a house now, like going to be thinking about like
• 20:51
  Speaker 3: go in and start talking to the ghost of Google's group,
• 20:53
  Speaker 3: start getting a plan of what you're going to need
• 20:55
  Speaker 3: to do to get your house listed and ready for
• 20:57
  Speaker 3: that season, so that when we get the rates there
• 20:59
  Speaker 3: and you're ready, you see something you want and you
• 21:01
  Speaker 3: want to jump on.
• 21:02
  Speaker 2: You need to sell your house.
• 21:03
  Speaker 3: You need to go have that plan going, so like
• 21:05
  Speaker 3: there's you need to be reaching out and start setting
• 21:07
  Speaker 3: that plan up because it's gonna happen. It's gonna happen fast,
• 21:09
  Speaker 3: it will. And I was, I say, I think it's
• 21:13
  Speaker 3: gonna happen.
• 21:14
  Speaker 1: Yeah, I was at the gym this week and uh
• 21:17
  Speaker 1: there somebody was talking about, you know, potentially getting into
• 21:19
  Speaker 1: a vacation home, but they want to wait till the
• 21:21
  Speaker 1: rates go down. And I was like, dude, why are
• 21:24
  Speaker 1: you waiting? Like you've got less competition right now, Like
• 21:28
  Speaker 1: go ahead and jump in, go ahead and get that
• 21:31
  Speaker 1: get the house while you've got the negotiating ability, and
• 21:34
  Speaker 1: then next year when it's a point less on the
• 21:37
  Speaker 1: interest rate, then you will be financed.
• 21:40
  Speaker 3: That that that is that is the like the little
• 21:42
  Speaker 3: thing that just kind of like it always gets me.
• 21:45
  Speaker 3: And I'm not saying it's always a one for one there,
• 21:47
  Speaker 3: but like let's just use like let's just say it's
• 21:49
  Speaker 3: a I'm not using this.
• 21:50
  Speaker 2: Person, but let's just use random numbers.
• 21:52
  Speaker 3: You know, let's say right now, you can get the
• 21:53
  Speaker 3: lake house you want for nine hundred thousand dollars in
• 21:55
  Speaker 3: the rate six six point three seventy five. And I'm
• 21:58
  Speaker 3: just making up something on the writ. Okay, we get
• 22:01
  Speaker 3: to March next year and it's getting the late season
• 22:03
  Speaker 3: and the rates aret five and a half. That house
• 22:05
  Speaker 3: is not gonna be nine hundred thousand anymore. That house
• 22:08
  Speaker 3: is going to be one point one, one point two
• 22:10
  Speaker 3: one point twenty five. So you were worried about half
• 22:14
  Speaker 3: percent rate, but we're okay paying three hundred thousand dollars more.
• 22:16
  Speaker 2: For a house.
• 22:17
  Speaker 1: It's a heck of a difference.
• 22:18
  Speaker 3: I mean, like that's that's that's the thing to me,
• 22:20
  Speaker 3: Like we're so worried about that number that we can
• 22:23
  Speaker 3: put on our pillow at night and we're missing we
• 22:25
  Speaker 3: can't see the forest of the trees.
• 22:27
  Speaker 1: I mean we're like my three point six two five.
• 22:29
  Speaker 1: Oh yeah, I like it.
• 22:31
  Speaker 5: Listen, it's awesome.
• 22:33
  Speaker 1: But having the right houses, yeah.
• 22:36
  Speaker 3: Yeah, and and and over the long term, orre you
• 22:39
  Speaker 3: getting the best deal for it? Because again, let's just
• 22:41
  Speaker 3: make up. Let's say you have to pay another seven
• 22:43
  Speaker 3: thousand dollars and closing cost of refi if you got
• 22:45
  Speaker 3: the house cheaper and you were gonna get it by waiting.
• 22:48
  Speaker 1: What's the matter when people refinance? What is is there
• 22:52
  Speaker 1: any kind of rule of thumb, like they need to
• 22:55
  Speaker 1: have the uh interest rate a certain level lesson.
• 22:59
  Speaker 3: All case by case. And a lot of that goes
• 23:01
  Speaker 3: back to like what kind of loan are you in currently?
• 23:04
  Speaker 3: How long do you plan on being in there? You know,
• 23:07
  Speaker 3: is are you gonna are you thinking like you're gonna
• 23:09
  Speaker 3: be out of it in five years? Okay, then we
• 23:10
  Speaker 3: probably need to make sure. I mean again, like we'll
• 23:12
  Speaker 3: say it needs to be one percent reduction if you're
• 23:15
  Speaker 3: gonna be there for the next ten or fifteen years.
• 23:16
  Speaker 3: Like if it's a half percent, I mean it's worth
• 23:18
  Speaker 3: doing it. So I mean, so it's everybody's case by case,
• 23:20
  Speaker 3: and people have different needs to peel.
• 23:22
  Speaker 2: Houses are worth.
• 23:23
  Speaker 3: More than ever when anybody bottom right now, so people
• 23:25
  Speaker 3: can get cash out and pay off higher revolving debts.
• 23:28
  Speaker 3: So anyways, there's all kinds of options, but it's it's
• 23:31
  Speaker 3: it's gonna be interesting to see how it all unfolds.
• 23:32
  Speaker 1: We're there though, case by case, and if you're trying
• 23:36
  Speaker 1: to figure it out for yourself, call it a Gustygulis
• 23:39
  Speaker 1: Group Gustygoulisgroup dot com two of five five four two
• 23:42
  Speaker 1: nineteen ninety six called text that number and we can
• 23:46
  Speaker 1: build that planning for you with you and then also
• 23:49
  Speaker 1: get pre qualified for a mortgage. Go to Bradsmith Loans
• 23:52
  Speaker 1: dot com. That's me and uh get that process started too.
• 23:57
  Speaker 1: So well, thank you so much for joining us. The
• 24:00
  Speaker 1: calm before the storm. There we go, all right, catch
• 24:04
  Speaker 1: you next time