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Labor day weekend is a great time to look for a home · Bought Borrowed and Sold

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  Speaker 1: All right, welcome to Ball Barred and Sold. Thank you
• 0:02
  Speaker 1: so much for joining us. We got hanging in the studio,
• 0:06
  Speaker 1: as always, Brad Smith with Cross Country Mortgage. What's up, Brad?
• 0:09
  Speaker 1: How are you, buddy?
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  Speaker 2: I am fantastic. How are you?
• 0:12
  Speaker 1: Labor Day weekend.
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  Speaker 2: Man, the first Monday of September is tomorrow.
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  Speaker 1: Are you chilling? Are you taking it easy? What are
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  Speaker 1: you doing? I know a bunch of people are going
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  Speaker 1: to the lake. A lot going on.
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  Speaker 2: I mean, we're going to do football practice tonight and
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  Speaker 2: Monday night. And if you're at the lake, a kid
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  Speaker 2: just misses practice. We've got games on Tuesday, man. It
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  Speaker 2: doesn't slow down.
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  Speaker 1: We've got Tuesday off. We took care of business this
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  Speaker 1: past week down in Alabaster. So our fourth-grade Homewood Patriots
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  Speaker 1: with Tripp Goulas on the D-line.
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  Speaker 2: Holding the anchor in it now.
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  Speaker 1: That's right. He had a huge fourth down stop, which
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  Speaker 1: was pretty cool. We took care of the Warriors 34-0. 34-0. Man,
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  Speaker 1: that was– That's always fun. It's fun to see all
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  Speaker 1: these boys kind of start getting in their mix.
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  Speaker 2: They start figuring it out. It's fun. I mean, they
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  Speaker 2: start– it's the toughest because you can't simulate it. hardly
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  Speaker 2: at all really the way you need to in practices
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  Speaker 2: and even when you scrimmage and stuff so until they
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  Speaker 2: get in the game and understand oh wait if I
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  Speaker 2: don't get my pads down lower I'm gonna get hit
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  Speaker 2: in the chest and it might hurt like and then
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  Speaker 2: like kind of figuring out how to move in space
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  Speaker 2: and the shoulder pads and the helmet and everything. I mean, it's,
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  Speaker 2: it's fun when it starts clicking and they start kind
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  Speaker 2: of being like, Hey, I'm, I'm, I think I'm actually
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  Speaker 2: becoming a football player now. Right. Um, it's fun.
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  Speaker 1: Well, it's interesting. We were, uh, we had to get
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  Speaker 1: down there at like five 15 for a six o'clock game. And,
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  Speaker 1: and we were hitting, you know, the traffic, you know,
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  Speaker 1: two 80, 65. We ended up going to 80 because
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  Speaker 1: there was, I think like a wreck or something like on,
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  Speaker 1: on 65. Um, we had to do that last Thursday,
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  Speaker 1: like around the Homewood Vestavia area. So, We went around,
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  Speaker 1: and Trip was like, man, there's a lot of traffic.
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  Speaker 1: I was like, buddy, you don't realize how good you've
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  Speaker 1: got it. We live in Homewood. We don't– we're kind
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  Speaker 1: of– we go downtown or whatever. I mean, we don't
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  Speaker 1: see a ton of traffic. And I was like, you
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  Speaker 1: don't realize how good our location is, and you don't
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  Speaker 1: see the– I mean, we're not sitting in traffic like that.
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  Speaker 1: He was like, oh, my gosh. And so, you know,
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  Speaker 1: I mean, there's people– I mean, there's probably people that
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  Speaker 1: are listening to this right now that, you know, they're 30,
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  Speaker 1: 45 minutes to an hour going to work, 30 to
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  Speaker 1: 45 minutes to an hour heading home. And then on
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  Speaker 1: top of that, what if there is a wreck?
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  Speaker 2: I mean, or construction, which seems to be, you know,
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  Speaker 2: it's an election year, stuff like every road's being dug
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  Speaker 2: up and reconstructed.
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  Speaker 1: Yeah. Well, and I was just like, my gosh.
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  Speaker 2: That's a tough time slot to hit leave for people
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  Speaker 2: in the area from Birmingham area south down 65 to
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  Speaker 2: Alabaster when you've got a 6 o'clock game and you've
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  Speaker 2: got to be there at 515. The earlier you leave,
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  Speaker 2: the earlier you're going to be there, obviously. But if
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  Speaker 2: you risk it and start waiting until 430, 445, you
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  Speaker 2: may get stuck where it's an hour, hour and 15,
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  Speaker 2: hour and a half.
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  Speaker 1: Yeah.
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  Speaker 2: And you're not making it in time. So it's that
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  Speaker 2: hard time of, like, when do you leave to not
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  Speaker 2: be there two hours early?
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  Speaker 1: Well, what made me think about this is, like, all right, well,
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  Speaker 1: let's say Thompson was playing at Homewood. And then you'd
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  Speaker 1: have to leave, go to your house, get everything, then
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  Speaker 1: head back to Homewood. Think about how much time you've
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  Speaker 1: got to have for that. And it's just like, oh, man,
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  Speaker 1: it's– It just gives me a kind of– it renews
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  Speaker 1: my perspective of, like, how good of a location, like,
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  Speaker 1: where we're at in Homewood is. Like, I mean, I
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  Speaker 1: grew up in Pelham, and, I mean, that area has
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  Speaker 1: grown significantly in the, you know, 20 years since I've
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  Speaker 1: lived here.
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  Speaker 2: Well, all of that has.
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  Speaker 1: Everything.
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  Speaker 2: Calera, Helena, Chelsea. Yeah. I mean, that whole– I mean,
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  Speaker 2: you go to– when you go to the alabaster, look
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  Speaker 2: at all the stuff they're building that's brand new, spanking
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  Speaker 2: new that they've got.
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  Speaker 1: Yeah.
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  Speaker 2: That comes from growth in the city. I mean, you know,
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  Speaker 2: that's all tax money paying for all this stuff. But,
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  Speaker 2: I mean, it's amazing how awesome– I mean, how well
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  Speaker 2: they're developing some of this stuff. I mean, it's great
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  Speaker 2: for all those communities.
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  Speaker 1: Yeah. No, that's awesome. And so, I mean, I thought
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  Speaker 1: that was interesting, you know, just bringing in the real
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  Speaker 1: estate aspect of it. For sure. You know, as– just
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  Speaker 1: in traveling and all that kind of stuff. And so
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  Speaker 1: I thought that was interesting. Well, I'll tell you, we
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  Speaker 1: had a busy week, which has been interesting. You know,
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  Speaker 1: we're representing, we've got an investor that's going to be,
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  Speaker 1: that's selling their portfolio over the next three years. So
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  Speaker 1: we're kind of, as, as their renters are moving out,
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  Speaker 1: we're getting their homes prepared and coming to market. So
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  Speaker 1: we've got some homes coming on the market from this one, this, um,
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  Speaker 1: institutional investor that we're working with. Um, and then we've
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  Speaker 1: put just, you know, like, uh, we, we've got a, um,
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  Speaker 1: a client that's, uh, coming in from Atlanta and, uh,
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  Speaker 1: for a relocation for work. And so we found them
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  Speaker 1: a home in Highland lakes this past weekend, which was nice. So, uh,
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  Speaker 1: was really.
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  Speaker 2: Excited about that.
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  Speaker 1: Listen to this, this home was on the market 75 days.
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  Speaker 1: And of course we put in an offer Sunday night,
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  Speaker 1: Monday morning, they get another offer. You're like, come on,
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  Speaker 1: what is this?
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  Speaker 2: I could see where that was going.
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  Speaker 1: Anyways, we, we, we, we locked it down and, and
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  Speaker 1: my folks are thrilled. It was cool. Cause we had,
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  Speaker 1: there was a, um, uh, as they're coming from acreage there,
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  Speaker 1: they've got like eight acres and they're like, you know,
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  Speaker 1: we're not like where we want to be. We're not
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  Speaker 1: going to be able to get like a large piece
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  Speaker 1: of land acreage, uh, here. And so, you know, it
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  Speaker 1: was really cool because when we were showing this house,
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  Speaker 1: a deer jumped in the backyard and then jumped, like,
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  Speaker 1: jumped in the backyard and went out another part of
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  Speaker 1: the fence.
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  Speaker 2: Got your little piece of wildlife right there.
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  Speaker 1: And they were like, you know what? This is a sign.
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  Speaker 2: That's what we needed. This is a sign. That's all
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  Speaker 2: we needed.
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  Speaker 1: So that was really cool. That was fun to be
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  Speaker 1: a part of. And then we put a home in Helena,
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  Speaker 1: a farm under contract that– this we'd had it on
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  Speaker 1: the market and these people had been kind of, you know,
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  Speaker 1: just interested in the property for a while. And lo
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  Speaker 1: and behold, we get a, we get another offer. And
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  Speaker 1: so we went back to, to these folks that had
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  Speaker 1: kind of just, it's been on their mind for a
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  Speaker 1: little while. Well, they, they ended up making an offer
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  Speaker 1: and they ended up getting the house. So, you know,
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  Speaker 1: it's just, it's, it's been, you know, people have been
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  Speaker 1: kind of sitting a little bit on the sidelines. And
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  Speaker 1: I think that was part of it. Like, Hey, we
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  Speaker 1: had some clients that were motivated. They made an offer.
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  Speaker 1: And then the people, that were sitting on the sidelines
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  Speaker 1: decided to make an offer. They didn't get it in
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  Speaker 1: this scenario. But on the other house, they did get it.
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  Speaker 2: Well, I mean, and we're also getting that, you know,
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  Speaker 2: we've talked about it, you know, how fast time flies.
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  Speaker 2: I mean, we're also getting to that time of year
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  Speaker 2: where people are starting, you know, we're getting into the,
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  Speaker 2: you know, we're going to be getting the fourth quarter
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  Speaker 2: in the next couple of weeks.
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  Speaker 1: Yeah.
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  Speaker 2: You know, you're going to have people start wanting to
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  Speaker 2: do some stuff with real estate, either selling or buying
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  Speaker 2: before the end of the year for tax purposes. You know,
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  Speaker 2: people are going to have different motivations for different stuff.
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  Speaker 2: I mean, there's other things that people are going to,
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  Speaker 2: you know, hopefully be getting off the fence for because
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  Speaker 2: it makes more sense financially to do something before the
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  Speaker 2: end of the year. So we're going to get some
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  Speaker 2: of that stuff kind of kicking off, too. Yeah. All right.
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  Speaker 1: Well, I think it's it's time to go over our
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  Speaker 1: new listings. We've got we actually have four new listings
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  Speaker 1: this week, but we're going to talk about three of those.
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  Speaker 1: And I think, Brad, let's go ahead and talk about
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  Speaker 1: the game.
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  Speaker 2: Talk about the game.
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  Speaker 1: And the rules of the game.
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  Speaker 2: All right. Gus is going to go over the new listings.
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  Speaker 2: He's going to go through the key features, cool things
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  Speaker 2: about each property. But he's going to give me at
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  Speaker 2: the end what we need for the game, and that
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  Speaker 2: is the list price of the home. That is something
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  Speaker 2: somebody may potentially pay for the home. I'll give a
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  Speaker 2: down payment somebody might make on it. And then Gusty
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  Speaker 2: and John are going to give their best educated guesses
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  Speaker 2: on the 30-year fixed monthly principal and interest-only payment.
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  Speaker 1: All right.
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  Speaker 2: Now all I need is a property.
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  Speaker 1: Okay. Well, we're going to start on the top.
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  Speaker 2: On the top.
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  Speaker 1: Of our list today. And we kind of teased on
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  Speaker 1: this one last week. And this is just an incredibly
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  Speaker 1: cool property. It's in Bluntsville. It's on 28 acres. It's
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  Speaker 1: by a river. It's on the Locust Fork River, 1800 feet.
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  Speaker 1: square feet or 1,800 feet of water frontage of this river.
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  Speaker 2: We were just talking about somebody else.
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  Speaker 1: It's got, it's five bedrooms, four and a half baths.
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  Speaker 1: We've got, there's a, like this, like a one bedroom,
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  Speaker 1: one bath, perfect for like an in-law suite. We've got
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  Speaker 1: this barn. Well, it's got a pole barn, so you
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  Speaker 1: can do some storage underneath it, put your tractor in there.
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  Speaker 1: It's also got this like huge storage building, like if
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  Speaker 1: you needed to run a business out of it or
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  Speaker 1: you just needed a huge warehouse. It's got that on there.
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  Speaker 1: It's one of those properties that's just completely unique, completely cool.
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  Speaker 1: It's in Blount County, so the taxes are super cheap.
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  Speaker 1: And it's located at 16555 County Highway 26 in Blountsville.
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  Speaker 1: And we're asking $ 1 million for it. Wow. And it's
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  Speaker 1: just a beautiful property. It was built in 1960. And
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  Speaker 1: it's ready for its new owner.
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  Speaker 2: That's fantastic. So $ 1 million.
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  Speaker 1: This listing is courtesy of Riley Wood on our team.
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  Speaker 1: So Riley, congratulations on your new listing.
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  Speaker 2: All right. $ 1 million. We're going to start at 10% down.
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  Speaker 1: 10%.
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  Speaker 2: Down should be easy math.
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  Speaker 1: All right. 10% down.
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  Speaker 2: All right.
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  Speaker 1: I'm going to go with... $ 5, 829. Want to go a
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  Speaker 1: little higher? I'm going to say $ 5, 999.
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  Speaker 2: $ 5, 999. The actual payment was $ 5, 957. John gets round one
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  Speaker 2: on the million-dollar property. I hate to tell you, Gusty,
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  Speaker 2: but they go down from there, so John only gets better.
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  Speaker 2: Because I don't know what I'm doing with these pick ones.
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  Speaker 1: All right, next new listing is actually in Etowah County
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  Speaker 1: in Atala, Alabama. Hey, you know what they say about
• 11:03
  Speaker 1: the folks from Atala?
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  Speaker 2: The Blue Devils?
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  Speaker 1: No, they're Italians.
• 11:09
  Speaker 2: They are Italians. They are Italian.
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  Speaker 1: Well, you can be an Italian just by living in
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  Speaker 1: the city, and you could buy a 415 Lee Street Southeast.
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  Speaker 1: This one was built in 1962 on a third of
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  Speaker 1: an acre lot, beautiful level fenced yard, 1,528 square feet,
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  Speaker 1: four bedrooms, two baths, $ 138, 500.
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  Speaker 2: $ 138, 500.
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  Speaker 1: $ 138, 500. We're going to keep it with the 10% down
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  Speaker 1: for Mr.
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  Speaker 2: Mounts.
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  Speaker 1: Okay, how about $ 800?
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  Speaker 2: How about it?
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  Speaker 1: I'm going to go $ 875.
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  Speaker 2: $ 875. It was actually $ 825. John gets round two. From
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  Speaker 2: my count, though, I think that may have locked it
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  Speaker 2: up unless Gusty finds a fourth property.
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  Speaker 1: He locked it up today. He came out strong.
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  Speaker 2: When they were only going down, I knew he had
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  Speaker 2: a good chance.
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  Speaker 1: I like these round numbers.
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  Speaker 2: Yeah, yeah, yeah.
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  Speaker 1: Hey, we've got two lots in Carrington Lakes that are
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  Speaker 1: for sale. Both of them are $ 45, 000. They are basically
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  Speaker 1: just under half acre lots. So if you'd like to
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  Speaker 1: build your dream home in Carrington Lakes, we've got 8443
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  Speaker 1: Ledge Circle and 8455 Ledge Circle that are waiting for you.
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  Speaker 1: And we are asking only $ 45, 000. $ 45, 000, which you can't
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  Speaker 1: find a lot already in an established neighborhood like that.
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  Speaker 1: I mean, it costs more than that just to get
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  Speaker 1: a lot done. How big is it? Just under half acre.
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  Speaker 2: Wow.
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  Speaker 1: That's big.
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  Speaker 2: Yeah, that's good. All right, 45. We're going to stick
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  Speaker 2: with 10% down. 10% down.
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  Speaker 1: Those listings are courtesy of Cal Bedgood. So, Cal, congratulations
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  Speaker 1: on your new listing.
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  Speaker 2: All right, 45,000, 10% down. Gusty trying to hold off
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  Speaker 2: the sweep.
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  Speaker 1: Golly.
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  Speaker 2: I've got my broom waving over here for you folks
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  Speaker 2: who can't see.
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  Speaker 1: 290. Yeah, this is like a car.
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  Speaker 2: 30-year, right? Yeah.
• 13:24
  Speaker 1: It's like a Mustang.
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  Speaker 2: Yeah.
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  Speaker 1: Yellow. I don't know. $ 260.
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  Speaker 2: The actual payment was $ 268. John gets round three.
• 13:40
  Speaker 1: What?
• 13:41
  Speaker 2: Three and O for John Mounts today. Write it down.
• 13:45
  Speaker 2: Pull over.
• 13:45
  Speaker 1: What happens?
• 13:46
  Speaker 2: Say a quick prayer to the heavens. What in the world?
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  Speaker 2: I've got a rule.
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  Speaker 1: I was going by every $ 100, 000 is $ 650.
• 13:52
  Speaker 2: Okay.
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  Speaker 1: That was my rule, and I was just trying to
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  Speaker 1: apply that based on the number. Man, he crushed it today.
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  Speaker 1: So I was doing a little math. Dang, look out.
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  Speaker 2: Give him some Gusty, some of his bell. Man.
• 14:04
  Speaker 1: Hey, we've got one coming up in Springville, a four-bedroom
• 14:08
  Speaker 1: for $ 294 coming up this coming week. We've also got
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  Speaker 1: in Rimlap. Hey, Blount County, what is going on? Hey,
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  Speaker 1: this one's on two and a half acres. It's three bedrooms,
• 14:19
  Speaker 1: two and a half baths. It is $ 475. It's got
• 14:24
  Speaker 1: a pool, and it's got a basement den. And this
• 14:29
  Speaker 1: house is, hey, this one's going to be a winner, $ 475. Oh, yeah.
• 14:34
  Speaker 1: Just put in a new pool liner, new interior paint.
• 14:37
  Speaker 1: It's got granite countertops. This was a builder's, built it
• 14:42
  Speaker 1: for himself originally. Oh, yeah. 10121 Mize Road. And actually,
• 14:47
  Speaker 1: there is a fourth bedroom in there. I said three,
• 14:50
  Speaker 1: but there's actually four bedrooms in there.
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  Speaker 2: And any time you're like, if the builder built it
• 14:55
  Speaker 2: for themselves, there's always a couple of cool things that
• 14:58
  Speaker 2: are in there that they did for themselves that maybe
• 15:00
  Speaker 2: doesn't necessarily, you're getting a value upgrade even if it's
• 15:04
  Speaker 2: not in there. I mean, you'll find stuff all the time.
• 15:07
  Speaker 1: No doubt. Hey, we've got some VIP buyer needs. I've
• 15:11
  Speaker 1: got somebody looking for a home either in Crestwood, Forest Park,
• 15:14
  Speaker 1: or Avondale. They're looking for a single level up to $ 600, 000.
• 15:18
  Speaker 1: We've got somebody looking in Shelby County up to $ 350, 000.
• 15:21
  Speaker 1: They are looking for a single level with a pool.
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  Speaker 1: I've got multiple folks looking in Homewood. I've got some
• 15:28
  Speaker 1: folks looking up to $ 1 million. I've got some folks
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  Speaker 1: looking up to $ 500, 000. I've got some folks looking up
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  Speaker 1: to $ 1. 25 million today. I've got somebody looking along the
• 15:38
  Speaker 1: Rocky Ridge Road area up to $ 400, 000. And then we've
• 15:43
  Speaker 1: also got somebody looking, we've still got somebody looking at Trustville, Odenville,
• 15:46
  Speaker 1: or Pell City. Four bedrooms up to $ 500, 000. So we've
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  Speaker 1: got a bunch of VIP buyers that are sitting on
• 15:54
  Speaker 1: the sidelines waiting for that right house. And so you
• 15:58
  Speaker 1: can go to gustygoulasgroup.com or you can call us at 205-542-1996. Hey,
• 16:01
  Speaker 1: guess what time it is? That's right.
• 16:09
  Speaker 2: It's testimonial time.
• 16:12
  Speaker 1: All right. This one is from Mr. Roley. He says,
• 16:17
  Speaker 1: Kyle is awesome. I cannot recommend anyone better. He takes
• 16:22
  Speaker 1: on the easy work and the hard, dirty work when needed.
• 16:25
  Speaker 1: He is passionate about helping people find the right house
• 16:28
  Speaker 1: that they are looking for. He's very personable and knowledgeable.
• 16:32
  Speaker 1: He helps you navigate the whole process when buying and
• 16:34
  Speaker 1: selling and keeps you well informed on what's going on.
• 16:37
  Speaker 1: He's second to none. Well, Mr. Rowley, congratulations on your
• 16:41
  Speaker 1: new home. And Kyle, congratulations on.
• 16:44
  Speaker 2: Another five-star review.
• 16:47
  Speaker 1: And last but not least today is from Alanna. And
• 16:51
  Speaker 1: Alanna says, Working with Daylene and the Gusty Ghouls group
• 16:54
  Speaker 1: has been one of the best decisions I've ever made
• 16:56
  Speaker 1: as a homebuyer. From the first conversation, Daylene brought a
• 17:00
  Speaker 1: level of professionalism, warmth, and expertise that immediately put me
• 17:05
  Speaker 1: at ease. She doesn't just sell homes. She guides people,
• 17:08
  Speaker 1: and she does it with genuine care. I love that.
• 17:11
  Speaker 1: Daylene is the kind of realtor who goes above and
• 17:13
  Speaker 1: beyond in ways you don't even realize you needed. She's
• 17:15
  Speaker 1: incredibly responsive, deeply knowledgeable about the Birmingham market, and has
• 17:21
  Speaker 1: an uncanny ability to anticipate questions before you even ask them.
• 17:25
  Speaker 1: Every step of the process felt organized, transparent, and tailored
• 17:29
  Speaker 1: to my needs. So, Alana, congratulations on your new home,
• 17:35
  Speaker 1: and Daylene, congratulations on another five-star review.
• 17:41
  Speaker 2: Daylene, Daylene, Daylene, Daylene. A little ode to Jolene, Dolly Parton,
• 17:48
  Speaker 2: rest in peace.
• 17:49
  Speaker 1: It's been a busy week. All right, Dolly Parton.
• 17:51
  Speaker 2: I know. Over here.
• 17:53
  Speaker 1: Hey, I love them five-star reviews.
• 17:55
  Speaker 2: Me too.
• 17:56
  Speaker 1: Keep them coming, baby. Keep them coming.
• 17:57
  Speaker 2: For Daylene.
• 17:59
  Speaker 1: All right, y'all stay tuned. We're going to learn a
• 18:01
  Speaker 1: little bit more about what's going on in the mortgage
• 18:03
  Speaker 1: world and the real estate world right here on Ball
• 18:05
  Speaker 1: Burn and Sold. Stay tuned. All right, welcome back. Thanks
• 18:10
  Speaker 1: so much again for joining us each and every Sunday
• 18:14
  Speaker 1: morning right here on 105.5. And all right, we ask
• 18:20
  Speaker 1: Brad Smith with Cross Country Mortgage all the time, What
• 18:24
  Speaker 1: are we seeing on mortgage rates? And he just put
• 18:27
  Speaker 1: his head down a little bit. That's not a good sign.
• 18:29
  Speaker 1: That's not a good sign, Brad. Is there any hope?
• 18:32
  Speaker 1: Is there any hope?
• 18:33
  Speaker 2: Listen, if you wanted me to come on here today
• 18:36
  Speaker 2: and tell you that rates have continued to go up some,
• 18:40
  Speaker 2: then you are in for a treat because the rates
• 18:43
  Speaker 2: are up. Oh, man.
• 18:46
  Speaker 1: But we don't want them to go up. We want
• 18:47
  Speaker 1: them to go down. Oh.
• 18:50
  Speaker 2: Yeah. Well, then I don't have much good news today.
• 18:52
  Speaker 1: Oh, man. Why are they going up?
• 18:55
  Speaker 2: You know, that's a great question. Yeah. It's a great question.
• 18:59
  Speaker 2: So fuel cost is still kind of back climbing. Still
• 19:04
  Speaker 2: a lot of uncertainties out there. The Fed has at
• 19:06
  Speaker 2: least said that they are not looking to raise rates
• 19:08
  Speaker 2: this year and reiterated that again. So that was good
• 19:12
  Speaker 2: this week. It helped kind of flatline some stuff. The
• 19:15
  Speaker 2: 10-year treasury's been climbing. You know, I think there's still some,
• 19:21
  Speaker 2: you know, hoping that we're not going to have any
• 19:23
  Speaker 2: weird inflation numbers going the wrong way. But fuel cost
• 19:27
  Speaker 2: and just kind of where we are in the market,
• 19:29
  Speaker 2: I mean, the 30-year average this past week was at
• 19:32
  Speaker 2: like 6.91. So we're up almost 0.1.5%. And the last
• 19:36
  Speaker 2: headline I read was, I'll tell you what, I'll just
• 19:39
  Speaker 2: pull it up and read what Mortgage rates are approaching 7%.
• 19:43
  Speaker 2: Can it stop? And in the article, it says we've
• 19:47
  Speaker 2: got some resilience and some things to keep us from there, but,
• 19:50
  Speaker 2: but it also wasn't glaringly positive that we won't go
• 19:53
  Speaker 2: back to where we're seeing seven as an average. So,
• 19:56
  Speaker 2: I mean, a lot of people are getting seven now.
• 19:58
  Speaker 2: I mean, 6.9, 6.91 is about the third year average
• 20:01
  Speaker 2: right now. So a lot of people are getting sevens
• 20:04
  Speaker 2: and you can, and then government loans, you can knock
• 20:06
  Speaker 2: off about a half percent there, but, um, But, I mean,
• 20:09
  Speaker 2: that's just where we are. But, I mean, again, it's
• 20:12
  Speaker 2: still lower than it was a year and a half ago,
• 20:14
  Speaker 2: three years ago. So it's not crazy. But if you
• 20:18
  Speaker 2: wanted me to come tell you that rates are going
• 20:20
  Speaker 2: down and they're looking to keep coming down, that's not
• 20:23
  Speaker 2: this Sunday. Maybe next Sunday. I would love to have that.
• 20:27
  Speaker 2: You're just kicking the can. Kicking the can down, down.
• 20:31
  Speaker 2: I just, just, I'm just, I just, you know, and
• 20:33
  Speaker 2: I just blame other people for it too. I blame
• 20:35
  Speaker 2: people in Washington. I blame businesses. I don't, I don't
• 20:37
  Speaker 2: ever take ownership of these rates.
• 20:39
  Speaker 1: I was, I was on a, I was on a, um,
• 20:41
  Speaker 1: a zoom this week and we had, um, so a
• 20:46
  Speaker 1: lot of the leaders of EXP realty, which our, our
• 20:49
  Speaker 1: team is a part of the brokerage EXP realty, which
• 20:52
  Speaker 1: is a, it's at this point, it's a global company.
• 20:54
  Speaker 1: I think we're in like 1920 countries. Um, And so
• 20:59
  Speaker 1: CAO was talking, and they were talking about the 10-year treasury,
• 21:04
  Speaker 1: I guess the yield and how that's around 4.7 right now.
• 21:11
  Speaker 1: But they were getting into the yen carry, the Japanese
• 21:16
  Speaker 1: yen and how that rate has gone up significantly. And
• 21:20
  Speaker 1: I think it's in the highest it's been in, what,
• 21:22
  Speaker 1: 20 years, 30 years? Mm-hmm. And how that's going to
• 21:26
  Speaker 1: impact interest rates. And so in those conversations, it was
• 21:32
  Speaker 1: more or less that, hey, be prepared for 7%. Like,
• 21:36
  Speaker 1: I mean, we're kind of knocking on his door anyway.
• 21:38
  Speaker 1: We're like ballpark 675.
• 21:41
  Speaker 2: So you knew before you set me up. You set
• 21:44
  Speaker 2: me up as the bad news guy. You already knew
• 21:46
  Speaker 2: it was coming. See?
• 21:47
  Speaker 1: Hey, I do my research too. See, he made me
• 21:50
  Speaker 1: be the bad guy and deliver it. No, no, no.
• 21:52
  Speaker 2: I didn't make you be the bad guy. I'm just kidding.
• 21:53
  Speaker 2: I'm just the bearer of bad news.
• 21:55
  Speaker 1: You just have a beautiful way of sharing the mortgage
• 21:59
  Speaker 1: news each and every week on this show.
• 22:01
  Speaker 2: I appreciate that. That's what keeps me coming back.
• 22:04
  Speaker 1: Yeah, yeah. But they were saying like, hey, be prepared.
• 22:08
  Speaker 2: That it's possible for it to go up.
• 22:11
  Speaker 1: And a lot of it has to do with just
• 22:14
  Speaker 1: kind of watching that 10-year Treasury note.
• 22:17
  Speaker 2: I mean, it got up to 480. Yeah. And, I mean,
• 22:22
  Speaker 2: it settled in around 478.
• 22:24
  Speaker 1: And in February, it was like 399. Correct.
• 22:27
  Speaker 2: We were glad we were below 4 and hoping we
• 22:29
  Speaker 2: were going to stay there. And then we were just
• 22:30
  Speaker 2: hoping it didn't get back above like 418. Then it
• 22:34
  Speaker 2: was like, just stay below 430.
• 22:36
  Speaker 1: And then a war.
• 22:36
  Speaker 2: And then here we go.
• 22:38
  Speaker 1: Golly. Man. Man. I just want rates to come down.
• 22:42
  Speaker 1: I mean, like, I know it needs to be fair
• 22:44
  Speaker 1: and investors got to make their money, but.
• 22:47
  Speaker 2: Well, I feel like I come in and I say
• 22:49
  Speaker 2: the same thing.
• 22:50
  Speaker 1: Like.
• 22:51
  Speaker 2: It's getting funny where I can remember what I said
• 22:53
  Speaker 2: the year before about this week or the year before that.
• 22:57
  Speaker 1: Our rates are better now than they were a year ago,
• 23:01
  Speaker 1: or they were pretty comparable.
• 23:03
  Speaker 2: Yeah, maybe a touch lower this time of year last year.
• 23:06
  Speaker 1: But I remember two, three years ago, it was 8%.
• 23:09
  Speaker 2: Yeah, 100%. Eight and a quarter, maybe. But we keep
• 23:12
  Speaker 2: kind of thinking, is this one we've got to get
• 23:14
  Speaker 2: back down to six and then under and stay there,
• 23:16
  Speaker 2: and then something kind of kicks us back in our
• 23:18
  Speaker 2: pants and resettles us back in.
• 23:20
  Speaker 1: Ah, look.
• 23:20
  Speaker 2: I mean, you know, it is what it is. People
• 23:22
  Speaker 2: are still buying houses. People still need houses. You know,
• 23:25
  Speaker 2: but it's fun. It's more fun to see the rates
• 23:27
  Speaker 2: get back down under six.
• 23:29
  Speaker 1: Real quick. Hey, we have helped people that are relocating,
• 23:33
  Speaker 1: facing foreclosure that were just ready to sell quick with
• 23:38
  Speaker 1: some cash offers on their properties. So call or go
• 23:43
  Speaker 1: to AugustaGhoulsGroup.com or 205-542-1996. Let's build a plan of action together.
• 23:49
  Speaker 1: Let's see how we can help you and what your
• 23:51
  Speaker 1: goals are in real estate. So thanks so much for
• 23:54
  Speaker 1: joining us. bradsmithloans.com if you need to get pre-qualified. Thanks
• 23:56
  Speaker 1: a bunch.