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Transcript

The Storm is Here! · Bought Borrowed and Sold

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Speaker 1: All right, welcome to Ball Bar and so thanks so
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Speaker 1: much for hanging out with us this morning. We've got
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Speaker 1: Brad Smith with Cross Country Mortgage hanging out with us
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Speaker 1: in the studio.
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Speaker 2: What's up, Brad? How are you, man?
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Speaker 3: Man? I'm good? How about you?
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Speaker 2: Good? Good?
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Speaker 1: It is baseball season, are y'all? Y'all rocking and rolling
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Speaker 1: with baseball this year?
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Speaker 4: Brad started started on yesterday to twenty eight. Yeah, welcome
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Speaker 4: to March.
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Speaker 2: Yeah.
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Speaker 3: It's crazy, isn't that wi Yeah, I mean we're humming.
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Speaker 2: I love it. It is. This is my favorite time
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Speaker 2: of the year.
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Speaker 1: Not only is it selling season in real estate, but
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Speaker 1: I am a huge baseball fan. I grew up playing baseball,
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Speaker 1: played like nine years and I love like both my
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Speaker 1: boys play baseball.
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Speaker 2: I'm getting to assistant.
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Speaker 1: Coach this year awesome, which I don't want to be
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Speaker 1: head coach because I'm too competitive, but even my in
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Speaker 1: this assistant coach thiss, my competitiveness is coming out, and
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Speaker 1: you know it's I don't know, it's a little much,
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Speaker 1: but it's so fun. I mean, it is a great
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Speaker 1: time I'm having. I'm having a true blast and it's
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Speaker 1: fun to really pour into these young kids. It's awesome
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Speaker 1: and and see their growth and and you know, I
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Speaker 1: think it's gonna be fun in like, say, ten years,
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Speaker 1: and you really build relationships with them as they grow
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Speaker 1: and as your kids grow, and.
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Speaker 2: I'm excited about that.
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Speaker 4: They've all got their own little personalities. And it's just funny.
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Speaker 4: You know, you've heard me says four but it's you
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Speaker 4: almost feel like more like you're almost become a child psychologist,
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Speaker 4: especially when you're talking about like youth rex sports. You're
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Speaker 4: talking about first, second, third, fourth grade, and uh, but
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Speaker 4: it's a lot of fun. We just got through coaching
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Speaker 4: through basketball, just ended this past week. We're already in
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Speaker 4: the middle of baseball and so it's, uh but it's fun.
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Speaker 4: And so I'm assistant coach too. On the baseball side.
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Speaker 4: I kind of like it stay stayed just enough where
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Speaker 4: I can just yell at umpires.
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Speaker 2: There go there you go. All right, Well that sounds good.
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Speaker 1: Well, hey, you know, it's like I said, it's selling
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Speaker 1: season in real estate. I know your phone has been
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Speaker 1: ringing people getting pre qualified for a mortgage and uh,
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Speaker 1: like I know I saw one recently come in I
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Speaker 1: think like a couple twenty four hours ago of another
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Speaker 1: pre approval letter, which which I love those, uh and
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Speaker 1: people getting a plan, building that, building a plan. I
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Speaker 1: think this this gentleman is first time, first time home buyer,
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Speaker 1: just graduates Auburn in May, moving up here and is
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Speaker 1: going to buy a house. I mean, like already has
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Speaker 1: a job lined up. I was like, man, you an adult,
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Speaker 1: have got it made like you were You're winning my friends,
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Speaker 1: like even like after school, like even after I graduated
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Speaker 1: from Bama, like I didn't have a game plan. I
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Speaker 1: just want to I just wanted my diploma. And I'm
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Speaker 1: like I'll figure it out later, I know. And this
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Speaker 1: guy's like got the job, you know, he's he's he's engaged.
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Speaker 1: He's like, you know, about to buy a house. I'm like, man,
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Speaker 1: this this guy is on it.
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Speaker 3: Yeah he is. Yeah.
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Speaker 4: Well and even doing you just talking with him, it's
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Speaker 4: like you feel like you're talking you know again, it's
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Speaker 4: just kind of says like a you know, not not
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Speaker 4: to be like in a bad way, like you becoming
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Speaker 4: your parents. You know, like like the commercials, it's like
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Speaker 4: you're you're you know when you you're you're becoming an
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Speaker 4: adult really quick. You you you're there and so but
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Speaker 4: now it's fun talking to those those type of folks
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Speaker 4: and first time home buyers and just kind of thirsty
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Speaker 4: for knowledge and learning, but want to want to make
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Speaker 4: sure they're getting started on the right path, and well,
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Speaker 4: home ownership was the way to do it.
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Speaker 1: We we do work with a lot of first time
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Speaker 1: home buyers, but we also work in all different price ranges.
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Speaker 2: I mean, sure we we we were.
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Speaker 1: Going to talk about houses at like eighty eight thousand,
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Speaker 1: We're going to talk about houses at like one point
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Speaker 1: three seven mans. You know, so we're like all over
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Speaker 1: the board, and we love working with all clients. I
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Speaker 1: mean really, for us, it's kind of like a puzzle
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Speaker 1: and we're trying to fit the pieces together and do
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Speaker 1: whatever it takes to make it happen.
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Speaker 2: And yeah, so we love doing it.
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Speaker 1: Today, we're going to talk about some we've got some
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Speaker 1: price changes, and we've got a coming soon house that
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Speaker 1: we're going to talk about in our mortgage game.
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Speaker 2: And so hey, let's go ahead and get the let's
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Speaker 2: get the mortgage game going. And Brad tell the rules.
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Speaker 4: Oh yeah, all right, so Guss he's going to go
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Speaker 4: through the properties and they got some like he says,
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Speaker 4: some price changes are coming soon. So he's going to
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Speaker 4: go through the property, some good descriptions of it. But
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Speaker 4: what I need most importantly is that the very end
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Speaker 4: he's going to give me the list price, the potential
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Speaker 4: purchase price of the home, and then I'm going to
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Speaker 4: give a down payment that a ball may make. And
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Speaker 4: then Gusty and John Mounts, our producer, are going to
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Speaker 4: make their best guess on the thirty year fixed principal
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Speaker 4: interest only monthly payment. That's right, So I got my
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Speaker 4: numbers ready to roll.
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Speaker 2: Okay, all right, so let's go to this.
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Speaker 1: We've got recently had a price change on a home
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Speaker 1: located at thirty twenty nine First Street, Insley. This is
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Speaker 1: a three bedroom, two bath home one thousand, thirty one
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Speaker 1: square feet. It was built in nineteen fifty two. It
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Speaker 1: would work, obviously for for somebody looking for to move
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Speaker 1: into a home for their personal use or from an
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Speaker 1: investment side of things. I mean eighty eight for eighty
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Speaker 1: eight thousand for a three bedroom, two bath, I mean
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Speaker 1: you could you could get that one rented and make
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Speaker 1: some money cashad for sure just got me thinking about
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Speaker 1: do I need to add to the list?
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Speaker 3: Dude? Does Johnny de guest first while you're putting an offer.
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Speaker 1: Yeah really so yeah, we're asking eighty eight thousand, and
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Speaker 1: this listing is courtesy of Tony McDaniel. So, Tony, congratulations
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Speaker 1: on your listing.
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Speaker 4: All right, eighty eight thousand. All right, we're gonna start
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Speaker 4: off with ten percent down. Okay, ten percent down. Gusty
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Speaker 4: gets to go first.
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Speaker 2: Hmmm, I'm gonna go. I'm gonna go with five hundred.
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Speaker 3: Bucks, five hundred for Gusty.
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Speaker 5: Like the payment has come down a little bit, so
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Speaker 5: I'm gonna say four seventy five.
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Speaker 3: The actual payment is four to seventy four one playing
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Speaker 3: the game. Right here we go.
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Speaker 2: That's your second closest guess I think it is.
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Speaker 1: Yeah, all right, wow one dollar letting Gussy just take
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Speaker 1: that one in.
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Speaker 3: And so I just kind of sat back and let
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Speaker 3: on it.
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Speaker 5: When they're in that range with the houses I can afford,
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Speaker 5: I get bet. I'm better at it.
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Speaker 2: I'm like, man, all right.
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Speaker 1: Our next next listing is in the Tearan area, twelve
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Speaker 1: hundred Fulton Avenue. This one was built in nineteen thirty
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Speaker 1: three bedrooms, one bath, and we've got a new price
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Speaker 1: of one forty four five five. It's got thirteen hundred
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Speaker 1: and fifty six square feet. And this could be for investment,
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Speaker 1: could be for personal use, just kind of whatever you want.
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Speaker 3: This listing is.
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Speaker 2: Courtesy of Kyle Bedgood. So, Kyle, congratulations on your listing.
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Speaker 2: One forty four, five hundred one.
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Speaker 4: Four, five hundred, ten percent down. We're gonna stick with ten.
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Speaker 5: Stick of with ten, and that's on me. I'm thinking
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Speaker 5: probably seven fifty.
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Speaker 2: I'm gonna go with eight hundred this.
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Speaker 3: This is gonna be a good day, guys.
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Speaker 4: The actual payment is seven seventy eight, so Gusty gets
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Speaker 4: round two.
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Speaker 3: We're all over it today, ied it.
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Speaker 4: I had to do some quick math on that one
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Speaker 4: to make sure I know we were close. That were
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Speaker 4: the three dollars there.
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Speaker 5: So I shouldn't give you like crazy random numbers two
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Speaker 5: hundred and three seven dollars and eighteen cents.
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Speaker 3: You may need to, I'll figure it out, all right.
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Speaker 1: So we've got in the Bluff Park area of Hoover,
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Speaker 1: twenty sixteen Chapel Road. This one is four bedrooms, two
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Speaker 1: and a half baths, thirty six hundred square feet.
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Speaker 2: Holy moly.
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Speaker 1: And we've got a great new price of four hundred
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Speaker 1: and seventy eight thousand, dollars so many square feet thirty
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Speaker 1: six hundred. Yeah, on the main level in a basement
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Speaker 1: in the right. No, we've got eighteen hundred on a
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Speaker 1: main level and then another eighteen hundred on the second.
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Speaker 3: But a ball above ground.
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Speaker 4: Yeah wow, yeah, alright, sorry, I know making sure I
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Speaker 4: was making.
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Speaker 2: Sure the house.
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Speaker 1: I'm telling you. For seventy eight, all right, right there
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Speaker 1: on Chapel Road, right there between Park Avenue and Shades
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Speaker 1: Cross Road.
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Speaker 4: Nice, all right, four seventy eight, four seventy eight. We're
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Speaker 4: sticking with ten percent.
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Speaker 2: Down, ten percent down?
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Speaker 4: Okay, Yes, serve on back to Gusty. We're tied up
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Speaker 4: one to one. Y'all just both been all over it.
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Speaker 4: That's why I'm saying. It's just getting you know, you
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Speaker 4: might have to go to cents to make sure, y'all?
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Speaker 2: Okay?
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Speaker 1: All right?
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Speaker 2: Ten percent down?
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Speaker 3: Hmmm.
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Speaker 1: Man, my phone is blowing up over here on a
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Speaker 1: Sunday morning. People are it's the selling season see something.
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Speaker 1: This afternoon had three calls right back in a row. Maybe,
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Speaker 1: or maybe they just want to participate in the.
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Speaker 5: They're listening along.
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Speaker 3: They want to get all right.
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Speaker 1: Four seventy eight, you said ten percent down, Yes, sir,
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Speaker 1: Oh my gosh, I'm gonna go with.
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Speaker 2: Let's go twenty eight hundred.
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Speaker 5: See, I'm thinking the price is still a little high,
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Speaker 5: so I'm going to say twenty six fifty.
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Speaker 4: The actual payment was two thousand, five hundred and seventy six.
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Speaker 4: John gets round three. It is two to one, John
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Speaker 4: Mouth going to our final property.
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Speaker 5: What was that was that payment?
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Speaker 3: Two five hundred and seventy six.
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Speaker 5: I keep record because I actually base all these because
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Speaker 5: I think you're using the same You're using the same
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Speaker 5: percentage right now.
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Speaker 4: The interest rate I've changed usually weekly. While what the
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Speaker 4: that's going on?
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Speaker 5: Yeah, but I mean, like all three of these houses
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Speaker 5: the same interest rates.
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Speaker 3: Oh yeah, yeah on this on this one, I've got
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Speaker 3: the same interest.
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Speaker 2: Right over here. See he's smarter Thanuching.
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Speaker 3: Yeah. The only time I normally change it given away
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Speaker 3: his secret.
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Speaker 4: If there's a complete some of that will change the
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Speaker 4: interest rate per property, depending on like if I think
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Speaker 4: it's going to be you know, it's a commercial or
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Speaker 4: something like that, or we do a random lot or something.
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Speaker 4: But for the most part, I keep them pretty much
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Speaker 4: the same with the with whatever that well, we've.
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Speaker 1: Got we've got a brand new price a fifty thousand
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Speaker 1: dollars price reduction at fifty sixty four Greystone Way, five bedrooms,
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Speaker 1: four and a half baths. This home was built in
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Speaker 1: nineteen ninety four, right on the eleventh fairway of the
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Speaker 1: Founder's Course in Greystone. Four nine hundred and fifty seven
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Speaker 1: square feet on the main levels, another eleven hundred fifty
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Speaker 1: five square feet finished in the basement. One million, three
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Speaker 1: hundred and seventy five thousand dollars, also known as one
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Speaker 1: point three seven five.
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Speaker 4: One point three seven five move to gray Stone. We're
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Speaker 4: gonna change it up and do ten percent down John, ooh, John.
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Speaker 4: He noticed John, these price points were all pretty scattered out,
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Speaker 4: So I just kind of kept the down payment the
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Speaker 4: same some times when we were get crunched up, kind
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Speaker 4: of close all.
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Speaker 5: So I hear it. So here here's my thinking. I'm
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Speaker 5: looking back at the house that was about ten percent
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Speaker 5: of this one, maybe a little bit more. So I'm
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Speaker 5: gonna just gonna move my decial point over. So let's
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Speaker 5: say seven thousand a.
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Speaker 3: Month, seven thousand for John.
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Speaker 2: I'm gonna go seventy five hundred.
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Speaker 4: Seventy five hundred. The actual payment was seven thousand, four
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Speaker 4: hundred and eleven dollars.
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Speaker 3: Gusty gets it. We're tied up two to two.
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Speaker 2: All right, you want me give you one because I've
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Speaker 2: got a coming soon.
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Speaker 4: Yes, give me a coming soon, you go, I'll have
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Speaker 4: my stuff ready. You just six six hundred.
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Speaker 1: Okay, all right, we've got I'm excited about this listing.
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Speaker 1: And this is in Moody on two point six acres.
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Speaker 1: This home was built in nineteen ninety. It's five bedrooms,
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Speaker 1: three and a half baths. It's located in the high
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Speaker 1: Field neighborhood. Thirty three twenty.
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Speaker 2: Old Sawmill Road. Oh cool, what a cool name.
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Speaker 1: Old Sawmill three thousand, three hundred and eighty four square
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Speaker 1: feet on the main levels, another one thousand, seventy eight
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Speaker 1: square feet finished in the basement. And again two point
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Speaker 1: six acres. And this listing is courtesy of Carla Delaberto. So, Carla,
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Speaker 1: congratulations on your new listing.
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Speaker 5: Is there a new saw Mill Road?
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Speaker 2: You know, I don't believe so, but we can give
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Speaker 2: you this a Chylder and old Tyler.
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Speaker 5: So I'm just wondering.
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Speaker 2: So I guess the I guess it's just the regular
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Speaker 2: Tyler is just new Tyler.
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Speaker 3: Yeah, yeah, So all right, So six hundred thousand. I know.
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Speaker 2: Hey, look there's a new Hope Mountain Road in town.
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Speaker 3: It's true.
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Speaker 4: Uh, all right, so here we go, all right, six
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Speaker 4: hundred thousand, Yeah, for all the marbles, for all the marbles,
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Speaker 4: but it's the tie breakers.
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Speaker 3: We got to change a few things up.
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Speaker 4: Six hundred thousand, five percent down, fifteen year amortization. Oh
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Speaker 4: not thirty fifteen year principal interest only monthly payment.
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Speaker 5: I already I've already lost because it's like six hundred
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Speaker 5: thousand much.
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Speaker 2: How much are we putting down?
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Speaker 5: Five percent?
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Speaker 3: Five percent go.
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Speaker 2: Fifteen years?
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Speaker 3: Yeah?
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Speaker 5: Jeez, I don't know who I'll make this payment, but
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Speaker 5: you're on.
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Speaker 3: I made it easy on the first flour.
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Speaker 1: It didn't change anything, evidently. All right, you said how
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Speaker 1: much five percent down? Yes, sir, okay, it's fun for me,
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Speaker 1: how about it? Yeah, sounds like it. I'm gonna go with,
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Speaker 1: oh god, fifteen.
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Speaker 4: Years, and you don't just double it now, that's all right?
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Speaker 4: Forty five hundred forty five hundred for gusty.
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Speaker 5: On a fifteen. It seems low to me, but what
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Speaker 5: do I know. I'm gonna play conservative fines five thousand.
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Speaker 3: Five thousand.
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Speaker 4: The actual payment was four thousand, six hundred and fifty
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Speaker 4: seven dollars. Gusty gets it. In the overtime, both stared
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Speaker 4: at me as I was.
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Speaker 5: Going, if you say, like seventy five seven, I'm sorry, yeah, please,
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Speaker 5: God thought was gone and I just did it.
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Speaker 3: Yeah, sorry, all right, Hey, Gusty takes it.
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Speaker 2: Yeah, let's go there we go.
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Speaker 3: All right.
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Speaker 1: Hey, we've got a couple of VMP buyer needs. We've
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Speaker 1: got somebody looking still in Chilton County five to ten acres.
14:45
Speaker 1: We've got somebody looking in the Liberty Park part of
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Speaker 1: Vestavia up to five hundred and sixty thousand. They prefer
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Speaker 1: a four bedroom home. We've got somebody looking in the
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Speaker 1: Caba Heights, Altadena or River Run neighborhoods with a basement
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Speaker 1: up to six hundred thousand, and uh We've got got
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Speaker 1: somebody looking for either a condo or a town home
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Speaker 1: in the Hoover or Vestavia area up to two hundred
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Speaker 1: and fifty thousand. And that's just kind of off the
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Speaker 1: top of my head. We've got a bunch of folks looking.
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Speaker 1: Uh So, if you are considering selling or open to
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Speaker 1: the idea, we might be able to match somebody off
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Speaker 1: market or obviously we can build a plan about going
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Speaker 1: to market. You can go to gustygoulisgroup dot com or
15:28
Speaker 1: you can call two O five or text two five
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Speaker 1: five four to two nineteen ninety six. Hey, guess what
15:32
Speaker 1: time it is? That's right, it's testimonial time.
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Speaker 2: All right, man? I felt like that was y'all. Y'all
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Speaker 2: were excited about that one.
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Speaker 3: Good time this morning sitting on g what now?
15:44
Speaker 1: Ang?
15:44
Speaker 3: All right?
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Speaker 1: This one is from the Fraser family. Riley was absolutely
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Speaker 1: amazing to work with from start to finish. They helped
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Speaker 1: me both buy and sell my home and the entire
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Speaker 1: process was smooth, stress free, and well organized. Riley was
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Speaker 1: always available to answer questions. So Miss Fraser, thank you
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Speaker 1: so much for the opportunity to help buy and sell
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Speaker 1: a property with you and Riley. Congratulations on another five
16:12
Speaker 1: star review.
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Speaker 2: In last but not least, Oh it's about me.
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Speaker 1: Oh it's like you picked it out, Miss Bankston says
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Speaker 1: Gusty was great to work with as a first time
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Speaker 1: home buyer. He was knowledgeable about the process and great
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Speaker 1: at communicating about it. When I changed my mind on
16:29
Speaker 1: a couple of my search requirements, Gusty was so kind
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Speaker 1: and flexible with it. You can tell he genuinely cares
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Speaker 1: that you are happy with your purchase, and I never
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Speaker 1: felt pressured into committing to something just for the sake
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Speaker 1: of it. Well, miss Bankston, congratulations on your new condo.
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Speaker 4: And uh hey, Gusty, Yeah, congratulations on another five star review.
16:53
Speaker 3: It's a zinging kind of day.
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Speaker 5: I so glad you found that.
16:57
Speaker 1: I know, I know it's been sitting there for a
16:58
Speaker 1: while and I'm like, man, we need we need to
17:00
Speaker 1: implement that.
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Speaker 5: You should put a mic on the bell though, because
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Speaker 5: he's not that close to your mic.
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Speaker 2: Oh wait, wait, wait, wait here we go.
17:06
Speaker 3: There you go. Now all right, all.
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Speaker 2: Right, y'all, stay tuned.
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Speaker 1: We're gonna give you a little bit more update about
17:11
Speaker 1: what we're seeing in the market on mortgages.
17:14
Speaker 2: Right here, ballbon and Sold.
17:15
Speaker 1: Stay tuned, all right, welcome back to Bob barn and Sold. Now,
17:23
Speaker 1: I'm just messing with y'all with the with the bell
17:26
Speaker 1: take it. Found the bell in the studio and so
17:30
Speaker 1: I wanted to.
17:32
Speaker 3: It makes me think of Breaking bad.
17:34
Speaker 5: Oh yeah, they got Breaking What a great show.
17:37
Speaker 2: By the way, have.
17:39
Speaker 5: You ever seen him in stuff where he's not in
17:40
Speaker 5: a wheelchair?
17:41
Speaker 3: And he also doesn't have the accent.
17:43
Speaker 4: I know, he's like an English speaking like like he's
17:46
Speaker 4: like almost like Italian.
17:47
Speaker 1: You would never know, Yeah, yeah, would you look at that?
17:52
Speaker 3: Would you look at it?
17:54
Speaker 2: Well?
17:54
Speaker 1: I know, uh, you know, uh, busy week, busy. Now
17:59
Speaker 1: it's the start the season. We've talked for months about
18:02
Speaker 1: the calm before the storm, And when I meant by
18:06
Speaker 1: the calm before the storm, I meant that really in
18:08
Speaker 1: a good way, like it's gonna get busy. We talked
18:12
Speaker 1: about interest rates have been you know, uh projected to
18:15
Speaker 1: come down. They have been coming down. And I'll tell
18:20
Speaker 1: you what I think. If you're price right into the market,
18:25
Speaker 1: you're gonna might I mean, it is a very good
18:27
Speaker 1: possibility you're gonna get some multiple offers. So it really
18:31
Speaker 1: does depend on your condition of your property. It depends
18:34
Speaker 1: on where you come out from a pricing standpoint. You know,
18:37
Speaker 1: it obviously depends on the location, and it depends on
18:40
Speaker 1: the price points. Because I mean, you've got some of
18:42
Speaker 1: our luxury you know houses, they might not go just
18:45
Speaker 1: immediately off the market, right because some people might need
18:48
Speaker 1: to sell something to buy. All those kind of situations.
18:51
Speaker 1: But as we're coming into the selling season, I'm I
18:55
Speaker 1: think it's going to be a great selling season. I
18:58
Speaker 1: think people have got to be ready. I think they've
19:00
Speaker 1: they've got to come in with you know, solid offers.
19:03
Speaker 1: They've got to you know, really listen to the recommendations
19:08
Speaker 1: of their gusty Gulist group agent. Yep, they might yeah,
19:14
Speaker 1: they might have time for the bell. Yeah. And you know,
19:18
Speaker 1: I mean we're getting phone calls of you know, people
19:20
Speaker 1: that have been listed on the market and we're coming
19:23
Speaker 1: in and we're bringing you know, a new look to
19:26
Speaker 1: to some listenings that are going to be coming up
19:28
Speaker 1: on the market pretty soon. And you know a lot
19:31
Speaker 1: of times we get the second, third, and fourth phone
19:33
Speaker 1: call of bringing a home to market, and you know,
19:38
Speaker 1: luckily at that point the sellers are usually willing to
19:41
Speaker 1: listen to us.
19:42
Speaker 3: Yeah.
19:43
Speaker 1: Yeah, they makes a big difference, makes a big difference.
19:45
Speaker 1: And so no, but I'm super excited about the selling season.
19:49
Speaker 1: What have you been seeing, I know you've been getting
19:51
Speaker 1: some pre approvals knocked out.
19:52
Speaker 4: Yeah, and so yeah, So I mean, kind of going
19:55
Speaker 4: back when you talk about the cam before the storm,
19:57
Speaker 4: the reason we kind of say the cam before the storm,
19:59
Speaker 4: we kind of harped on that was is that we
20:02
Speaker 4: could already feel a lot of folks, like again me
20:05
Speaker 4: doing the pre approvals, people wanting to get a game
20:07
Speaker 4: plan a lot earlier this time with kind of knowing
20:09
Speaker 4: it was going to be in the spring. So we
20:10
Speaker 4: already knew we were building home buyers for the spring
20:14
Speaker 4: at even a faster pace than we're used to, so
20:16
Speaker 4: we knew it may not. You know, sometimes we get
20:18
Speaker 4: up now to get a preapproval because they're writing a
20:20
Speaker 4: contract that day sounds to get a pre approval becase
20:22
Speaker 4: they're gon go look this weekend. Sometimes we get a
20:23
Speaker 4: preapproval because we want to know what we can look
20:25
Speaker 4: for in three months. And we've had a lot of
20:27
Speaker 4: folks kind of forward thinking, so it's like, hey, we
20:29
Speaker 4: know we were not necessarily turning these into contracts right
20:32
Speaker 4: now we're to closings, but it's coming. And so the
20:34
Speaker 4: pre approvals have just continued to pick up and people
20:37
Speaker 4: are starting now, but they're also now the ones that
20:39
Speaker 4: we've been pre approven since we've been talking about the
20:41
Speaker 4: comed before the storm in October November are now getting
20:43
Speaker 4: under contract or signing stuff and finding things and so
20:47
Speaker 4: all that's been been really positive. And then like I said,
20:51
Speaker 4: the rates can have continued to stay down. They're kind
20:54
Speaker 4: of wedged in between a pretty good ceiling of a
20:58
Speaker 4: Fibonacci level. And then and then, and then, I know
21:01
Speaker 4: I was trying. I wanted to use it earlier in
21:05
Speaker 4: a different situation, but it did couldn't get fitted in.
21:08
Speaker 4: But so we've got a Fibonacci ceiling that's kind of
21:10
Speaker 4: we're trying to bust over to kind of help mortgage rates.
21:13
Speaker 4: But we've got a lot of levels of resistance at
21:15
Speaker 4: the floor with some different the twenty five day, fifty day,
21:18
Speaker 4: hundred day, and two a day moving averages. So we've
21:20
Speaker 4: got good levels of support to keep us where we are.
21:23
Speaker 4: If we can bust through and get a little bit
21:25
Speaker 4: more on the report side as far as some more
21:28
Speaker 4: solid inflation and employment numbers of kind of what's going
21:30
Speaker 4: on and kind of a better idea of that, I
21:32
Speaker 4: could see us busting above that. See that Fibonacci level
21:35
Speaker 4: I was talking about in mortgage rates starting to kind
21:38
Speaker 4: of tick back down to the to the mid fives,
21:40
Speaker 4: upper fives of mid fives.
21:42
Speaker 1: And you can you can probably already see that with
21:44
Speaker 1: faha vs.
21:45
Speaker 3: Oh yeah. Yeah.
21:46
Speaker 4: So so we're already looking at those in the in
21:48
Speaker 4: the mid fives five point six two, five, five and
21:50
Speaker 4: a half, some five point seventy five kind of that range,
21:53
Speaker 4: on a lot of your on a lot of your
21:55
Speaker 4: your government loans, which again we talked about USDA v A,
21:58
Speaker 4: FHA and and so, yeah, I mean it's just it's
22:02
Speaker 4: there's just a lot of good things to be in
22:03
Speaker 4: the market. And we're officially we officially have more home
22:06
Speaker 4: buyers or we officially now also just on the refinense
22:10
Speaker 4: side of things, we have more people that are above
22:12
Speaker 4: the current rates than they are below the current rates,
22:14
Speaker 4: and that's the first time that's been in a while.
22:16
Speaker 4: And so so that's all been good. But again some
22:19
Speaker 4: of the some of the triggers we're looking at, like
22:21
Speaker 4: for the inflation and stuff. But we got a really
22:23
Speaker 4: really good like rental report for the past the past week,
22:25
Speaker 4: which you know, obviously housing is a huge component of
22:28
Speaker 4: inflation and and so and so rental is a huge
22:32
Speaker 4: part of that number because it's not necessarily owning a home,
22:36
Speaker 4: it's what's housing cost. And so they're seeing that we've
22:40
Speaker 4: got some record vacancy rates and apartments nationwide where we're
22:45
Speaker 4: we're at a kind of an all time high there
22:48
Speaker 4: of of of of or of the smallest side of
22:52
Speaker 4: of rate increases have dropped so that it's down even
22:55
Speaker 4: more than they thought. It's actually decreased by one point
22:57
Speaker 4: five percent from last year on rents and so so
23:00
Speaker 4: all those are starting to come in. So those those numbers,
23:02
Speaker 4: we see them, so we know they're going to feed
23:04
Speaker 4: into an inflation report in the next week or two
23:07
Speaker 4: and then that that's that being such a huge component.
23:10
Speaker 4: Know when those numbers are moving, the bond market's already
23:12
Speaker 4: kind of reflecting it and showing it in because we
23:15
Speaker 4: see it coming in real time because we know what
23:16
Speaker 4: these reports are going to lead into the PCEE and stuff.
23:19
Speaker 4: So it's all positive on my on our end, and
23:21
Speaker 4: hope to continue to see rates rates keep coming down
23:23
Speaker 4: and keep people in the market.
23:24
Speaker 1: Yeah, well, I think it's been interesting is like the
23:26
Speaker 1: risk level has reduced, where you know, if you look
23:30
Speaker 1: at a couple of years ago, then based on where
23:33
Speaker 1: your tenure note, you'd probably at six point seventy five
23:35
Speaker 1: right now exactly. But those risks have compressed, so that's good. Yep,
23:39
Speaker 1: Well again, thanks so much for joining us, Brad Each
23:42
Speaker 1: and every week. We appreciate you giving your your knowledge,
23:45
Speaker 1: so we want to get pre qualified. Go to Bradsmith
23:48
Speaker 1: Loans dot com if you want to talk about, you know,
23:51
Speaker 1: buying or selling a house. Gustygooglessgroup dot com. You can
23:56
Speaker 1: google us, go online, you can find us. But we'd
23:59
Speaker 1: love of an opportunity, whether it's buying a personal home,
24:03
Speaker 1: selling a personal home, or an investment home. Hey, thanks
24:06
Speaker 1: for joining us. We'll catch you next time.