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Transcript

Our Post MidTerm Election Show · Bought Borrowed and Sold

• 0:00
  Speaker 1: Well, hello, everyone. Welcome to Ball Barred and Sold. Thanks
• 0:03
  Speaker 1: again for joining us each every Sunday morning, 8 a.m.
• 0:06
  Speaker 1: Brad Smith. hanging out with us from Cross Country Mortgage
• 0:10
  Speaker 1: in the studio. What's up, Brad? How are you, buddy?
• 0:12
  Speaker 2: It's beginning to look a lot like Christmas. Well, it
• 0:16
  Speaker 2: does look like.
• 0:17
  Speaker 1: Christmas in the studio.
• 0:19
  Speaker 2: I don't feel it yet, but it definitely looks it.
• 0:21
  Speaker 1: You know, I mean, we've got the gingerbread man in here.
• 0:24
  Speaker 1: We've got, like, all the stockings. Snowmen. Nutcrackers.
• 0:31
  Speaker 2: Santa hats.
• 0:32
  Speaker 1: This should get you into the holiday spirit.
• 0:34
  Speaker 2: I'm going to leave here in it.
• 0:35
  Speaker 1: Yeah. Yeah. So we walk into the studio and it's
• 0:40
  Speaker 1: got the holiday, you know, decorations galore. And, you know,
• 0:45
  Speaker 1: it kind of gets you in that festive mode.
• 0:47
  Speaker 2: Yeah, it does.
• 0:49
  Speaker 1: So anyways, I bet the kids have already started asking
• 0:52
  Speaker 1: about what are they going to get for Christmas and
• 0:55
  Speaker 1: all that fun stuff. Yeah. Yeah. I know Max has
• 0:59
  Speaker 1: been like, you know, Dad, I need a bike. So
• 1:02
  Speaker 1: that means I got to sell some houses, y'all.
• 1:05
  Speaker 2: Um, that is a fact.
• 1:07
  Speaker 1: Oh yeah. Oh yeah.
• 1:08
  Speaker 2: But yeah, no, all good stuff. So glad to be back.
• 1:11
  Speaker 1: Yeah. Back in the mix of things. Um, man, I
• 1:14
  Speaker 1: want to give a couple of shout outs to our team. Um,
• 1:17
  Speaker 1: so earlier this week we were at, uh, we had
• 1:21
  Speaker 1: ourselves meeting at Everly, which is a new construction community
• 1:25
  Speaker 1: by Signature Homes out in the Hoover area. Fantastic neighborhood.
• 1:29
  Speaker 1: They've got a bunch of different little sectors. They've got a,
• 1:32
  Speaker 1: They've got one community that's like a 55-plus adult community,
• 1:35
  Speaker 1: and they've got other communities that are just completely mixed
• 1:38
  Speaker 1: and just a super cool pool area, workout area. They've
• 1:43
  Speaker 1: got some golf simulators. And so we spent a little
• 1:45
  Speaker 1: bit of time with the team doing our sales meeting,
• 1:48
  Speaker 1: hanging out, looking at the different models over there, and
• 1:52
  Speaker 1: had a good week doing that. And I did some
• 1:55
  Speaker 1: shout-outs with our teammates, but I want to give them
• 1:58
  Speaker 1: some shout-outs on air.
• 2:00
  Speaker 2: Oh, yeah, for sure.
• 2:00
  Speaker 1: Yeah.
• 2:01
  Speaker 2: There's some good ones.
• 2:02
  Speaker 1: We had Kiki Taylor that has recently joined us, brand
• 2:06
  Speaker 1: new agent. Last week put three deals under contract. Which
• 2:12
  Speaker 1: we have been giving her leads for maybe at this
• 2:14
  Speaker 1: point like three weeks. Wow. And so she's just like,
• 2:19
  Speaker 1: you know, just go get her. And I love it.
• 2:22
  Speaker 2: And she was in here in studio a couple weeks ago.
• 2:24
  Speaker 2: She didn't talk, but, you know, she was here.
• 2:26
  Speaker 1: She just jumped in and chatted me for a day.
• 2:28
  Speaker 2: Yeah. Hit the ground running.
• 2:31
  Speaker 1: Yeah. So we turned on the lead button for her,
• 2:35
  Speaker 1: and she has been after it. So three homes under contract.
• 2:40
  Speaker 1: So I want to give Kiki a shout out. Tamara Granger,
• 2:43
  Speaker 1: as a recent add to our team, she put her
• 2:46
  Speaker 1: first deal under contract.
• 2:48
  Speaker 2: Nice.
• 2:48
  Speaker 1: Which I'm super excited and happy for her. And then
• 2:52
  Speaker 1: Cheyenne Parkes. which is another one of our newer agents.
• 2:56
  Speaker 1: She's been with us a couple of months. She just
• 2:57
  Speaker 1: closed her first deal. So I think she's got like
• 3:00
  Speaker 1: four deals under contract right now. So super happy for her. And, um,
• 3:05
  Speaker 1: we've just, you know, it's, uh, I've got, we, we
• 3:08
  Speaker 1: had Darlene Carter.
• 3:10
  Speaker 2: Y'all got Darlene's killing it.
• 3:12
  Speaker 1: Darlene's got like six homes under contract. So, you know,
• 3:17
  Speaker 1: proud of her, Kyle Bedgood on our team. He just
• 3:20
  Speaker 1: closes like 43rd deal for the year. And, man, he's hungry.
• 3:25
  Speaker 1: He wants to get that top spot, that number one
• 3:29
  Speaker 1: on the team. And he's even trying for number one
• 3:34
  Speaker 1: ever on the team. Nice. It's going to come down
• 3:37
  Speaker 1: to the nitty-gritty, but he is working hard. And, you know,
• 3:41
  Speaker 1: it's the beginning of November. Yeah. And, well, you know,
• 3:45
  Speaker 1: I mean, I guess we're a weekend in November. Yeah.
• 3:48
  Speaker 1: You know, I mean, this is pretty much the final
• 3:51
  Speaker 1: month of, you know, it pretty much has to be
• 3:54
  Speaker 1: a cash deal in December to close in December. So
• 3:58
  Speaker 1: everything that goes under contract this month most likely will
• 4:01
  Speaker 1: close in December. So we got about three more weeks. Really,
• 4:05
  Speaker 1: we got about two more weeks before Thanksgiving. Yeah. before
• 4:09
  Speaker 1: it's all said and done.
• 4:10
  Speaker 2: That's right.
• 4:10
  Speaker 1: So it's super important that we finish out strong. And
• 4:15
  Speaker 1: I feel like we're going to, it looks like we're
• 4:17
  Speaker 1: going to finish out better than we did last year,
• 4:19
  Speaker 1: which is a blessing.
• 4:20
  Speaker 2: Nice.
• 4:20
  Speaker 1: Yeah.
• 4:21
  Speaker 2: That's really good.
• 4:21
  Speaker 1: Yep, yep, yep. So I just want to give those
• 4:25
  Speaker 1: shout outs for our agents and those of you that
• 4:29
  Speaker 1: are listening and have worked with our team. I just
• 4:31
  Speaker 1: want to send a special thank you to those that
• 4:34
  Speaker 1: have trusted us and given us an opportunity. We do
• 4:37
  Speaker 1: appreciate it. We do work hard for our clients. And,
• 4:41
  Speaker 1: you know, I mean, buying and selling a house, it's
• 4:43
  Speaker 1: an emotional and stressful process. And, you know, I feel
• 4:47
  Speaker 1: like we're unlicensed therapists throughout a deal. And we just
• 4:53
  Speaker 1: try to make it as stressless of an experience as possible.
• 4:57
  Speaker 2: You know, I feel like that's most of life right
• 4:59
  Speaker 2: now is unlicensed therapists. Everybody I come in contact with,
• 5:03
  Speaker 2: whether it's a third grader, a fifth grader, a 60-year-old,
• 5:07
  Speaker 2: everybody's got stuff going on. So, yeah, I do feel
• 5:11
  Speaker 2: like a therapist a lot of times.
• 5:12
  Speaker 1: Yeah, that's funny. Yeah, that makes sense. That makes sense.
• 5:17
  Speaker 1: All right, cool. Well, I think it's time for us
• 5:19
  Speaker 1: to talk about what we've got open this afternoon and
• 5:23
  Speaker 1: play our game. Yep. So if you haven't listened to
• 5:25
  Speaker 1: our show before, we talk about our open houses and
• 5:28
  Speaker 1: our new listings. And me and then John Mounts, who
• 5:32
  Speaker 1: is our producer for the show, we get to talk
• 5:35
  Speaker 1: about or we get to guess the mortgage payment.
• 5:38
  Speaker 2: Yeah, buddy.
• 5:39
  Speaker 1: And so that's what we're planning on doing here.
• 5:41
  Speaker 2: All right. So rules of the game. Gus can go
• 5:44
  Speaker 2: through the properties. He's going to give us all the
• 5:46
  Speaker 2: cool features and details. He's going to give us what
• 5:48
  Speaker 2: I need at the end is the list price of
• 5:49
  Speaker 2: the home, potential purchase price. Which time I'll give a
• 5:52
  Speaker 2: down payment that a borrower might make, and then Gusty
• 5:54
  Speaker 2: and John will do their best efforts at guessing the
• 5:57
  Speaker 2: 30-year fixed monthly payment of principal and interest only. Yeah.
• 6:02
  Speaker 2: I'm ready to roll. John, you ready to roll? Got
• 6:05
  Speaker 2: his notebook out. Got my notebook. Years of numbers in
• 6:09
  Speaker 2: that book.
• 6:09
  Speaker 1: He won last week, too, didn't he?
• 6:11
  Speaker 2: Did I? Was it last week you won, John?
• 6:13
  Speaker 1: No, it was three weeks ago.
• 6:14
  Speaker 2: You won the tiebreaker last week.
• 6:16
  Speaker 1: Oh, I won the tiebreaker last week. Okay, all right.
• 6:17
  Speaker 2: And then JT won the week before.
• 6:19
  Speaker 1: Yeah, JT did. That guy.
• 6:21
  Speaker 2: I think he had the AI speech on, so when
• 6:23
  Speaker 2: he was hearing it, it was giving him an estimate.
• 6:26
  Speaker 1: Yeah, he had something going on.
• 6:27
  Speaker 2: He was real close on all of them. All right.
• 6:29
  Speaker 1: Well, hey, we've got in the Holland Park area, we've
• 6:32
  Speaker 1: got open this afternoon a condo, a one-bedroom, one-bath condo
• 6:35
  Speaker 1: located at 3350 Altamont Road. It's unit E2 at Altamont
• 6:41
  Speaker 1: Patio Condos. And this is a 640-square-foot condo, and we
• 6:45
  Speaker 1: are asking $ 167, 900. $ 167, 900. These are the condos that have
• 6:51
  Speaker 1: that patio area that's like kind of not necessarily fenced
• 6:57
  Speaker 1: patio area, but it's got kind of like a border,
• 7:00
  Speaker 1: so it gives you a little bit more privacy.
• 7:02
  Speaker 2: Yeah, I know what you mean.
• 7:03
  Speaker 1: So we've shown a bunch over through the years, sold
• 7:06
  Speaker 1: a couple through the years, and these are really kind
• 7:09
  Speaker 1: of neat. They were built in the 70s, and they
• 7:10
  Speaker 1: got a cool 70s look to them.
• 7:12
  Speaker 2: That's cool.
• 7:12
  Speaker 1: 167.9. 167.9. We're going to start with 20% down.
• 7:14
  Speaker 2: 20% down to Augusti.
• 7:15
  Speaker 1: Okay.
• 7:15
  Speaker 2: I'm going to go with... Let's go $ 891. I'm thinking
• 7:16
  Speaker 2: closer to $ 770.
• 7:19
  Speaker 1: $ 770.
• 7:39
  Speaker 2: I'm thinking closer to 914. Gusty gets round one.
• 7:44
  Speaker 1: Uh-oh. All right. Also open this afternoon is in the
• 7:53
  Speaker 1: Clay Chalkville area. It's actually Pinson is the city, but
• 7:56
  Speaker 1: Clay Chalkville Schools in Cosby Estates, sitting on 1.88 acres,
• 8:00
  Speaker 1: 5807 Wren Circle, priced at $ 245, 000. It's got 1,982 square
• 8:08
  Speaker 1: feet on the main level. Another 192 square feet finished
• 8:12
  Speaker 1: in the basement. Three bedrooms and two baths. And this
• 8:14
  Speaker 1: listing is courtesy of Tony McDaniels. So go and see
• 8:18
  Speaker 1: Tony this afternoon from 2 to 4. Nice. All right.
• 8:21
  Speaker 2: So 245, 5% down. 5% down to John. How about 1,400? 1,400
• 8:22
  Speaker 2: for John.
• 8:39
  Speaker 1: I'm going to go with 1451.
• 8:42
  Speaker 2: 1451. It was actually 1583, but Gusty still gets it
• 8:48
  Speaker 2: in round two. Uh-oh. Dos.
• 8:54
  Speaker 1: All right. Our next new listing of the week is
• 8:56
  Speaker 1: located in the Meadowbrook Estates neighborhood of Birmingham. 961 Five
• 9:02
  Speaker 1: Mile Road. This is over... Off of Highway 79, 1,239
• 9:06
  Speaker 1: square feet, three bedrooms, one bath, and we are asking $ 115, 000.
• 9:09
  Speaker 1: This one's got a new roof. And that's an expense
• 9:18
  Speaker 1: that you don't necessarily want to have. So, yeah, three bedrooms,
• 9:22
  Speaker 1: one bath, $ 115, 000. This listing is courtesy of Daylene Carter. So, Daylene,
• 9:26
  Speaker 1: congratulations on your new listing. There you go.
• 9:28
  Speaker 2: All right, $ 115, 000. We're going to go back to 20%
• 9:29
  Speaker 2: down to Gusty. 20% down to Gusty.
• 9:30
  Speaker 1: Okay, 20% down.
• 9:30
  Speaker 2: I'm going to go with.
• 9:46
  Speaker 1: Ooh. Let's go with $ 607. $ 607. See, I was thinking that.
• 9:53
  Speaker 1: but I'm going to go just a little higher. $ 625. $ 625.
• 10:09
  Speaker 2: We've got one on the button. 625 it is. John
• 10:14
  Speaker 2: got it on the number.
• 10:15
  Speaker 1: No way.
• 10:16
  Speaker 2: Really? Wow. That's why I was slow playing it a
• 10:19
  Speaker 2: little bit. Building a little suspense.
• 10:21
  Speaker 1: I don't think I've ever gotten one to the dollar.
• 10:23
  Speaker 2: No, there was one time.
• 10:24
  Speaker 1: No, you got 960 on it. 960. I did get
• 10:26
  Speaker 1: that one.
• 10:26
  Speaker 2: I remember it.
• 10:27
  Speaker 1: Man, yeah.
• 10:28
  Speaker 2: On the number.
• 10:29
  Speaker 1: We've been doing this six years, and I think that's
• 10:31
  Speaker 1: the third time ever that it's been actually called on
• 10:35
  Speaker 1: the button.
• 10:36
  Speaker 2: So congratulations, John. Yep.
• 10:38
  Speaker 1: I mean, that should automatically win the whole show, probably. Well,
• 10:41
  Speaker 1: not today.
• 10:42
  Speaker 2: It's one way to make your comeback start, though.
• 10:45
  Speaker 1: That's right. But wait just a minute.
• 10:47
  Speaker 2: There's more.
• 10:48
  Speaker 1: We've got our next new listing is in the Huffman
• 10:51
  Speaker 1: Highlands neighborhood, 941 T Street. In Birmingham, it's four bedrooms,
• 10:56
  Speaker 1: two baths, 1,296 square feet. We are asking $ 165, 000. $ 165, 000.
• 11:00
  Speaker 1: This one, all right, this one is occupied. So this
• 11:07
  Speaker 1: is for our investors. I will say that our investors
• 11:11
  Speaker 1: are receiving $ 1, 650 a month rent on this one. $ 1, 650
• 11:12
  Speaker 1: a month rent. So this will be fun. Yeah. $ 165, 000. $ 165, 000. No,
• 11:14
  Speaker 1: we're just going to put 5% down. 5% down back
• 11:24
  Speaker 1: to John. Because we had a 167 earlier, but that
• 11:28
  Speaker 1: was 20% down. Right. So we know this is going
• 11:31
  Speaker 1: to be greater than that one. Yes.
• 11:33
  Speaker 2: So I'm going to say... Typically.
• 11:35
  Speaker 1: So I'm going to say... 1150. I'm going to go with...
• 11:49
  Speaker 1: You said 5% down? 5%.
• 11:51
  Speaker 2: 5%. Weaver.
• 11:53
  Speaker 1: I'm going to go with $ 1, 011.
• 11:58
  Speaker 2: $ 1, 011. It was actually $ 1, 066. So Gusty gets round four.
• 12:05
  Speaker 2: And we've got another property, but Gusty has won the day.
• 12:09
  Speaker 2: All right, I'm leaving.
• 12:10
  Speaker 1: But John has won. So I want to bring attention. Investors,
• 12:14
  Speaker 1: you need to call us.
• 12:15
  Speaker 2: That, that.
• 12:16
  Speaker 1: Hey, we've got great opportunities. And especially now's the time,
• 12:21
  Speaker 1: like if you're a high net worth individual income earner
• 12:26
  Speaker 1: and you don't necessarily want all of that money going
• 12:29
  Speaker 1: to Uncle Sam, let's get you into some investment real estate.
• 12:34
  Speaker 2: Yes.
• 12:34
  Speaker 1: So call Uncle Gusty.
• 12:36
  Speaker 2: And that'll cash flow. Yeah, that cash flows.
• 12:37
  Speaker 1: 205-542-1996. Help Santa out on that one. Depreciation. Yeah. We
• 12:45
  Speaker 1: can get appreciation.
• 12:47
  Speaker 2: Make money and show losing money.
• 12:49
  Speaker 1: I'm telling you.
• 12:50
  Speaker 2: In a good way.
• 12:51
  Speaker 1: Our next new listing is in Ohatchee. Ever been to Ohatchee?
• 12:54
  Speaker 2: Man, are you kidding?
• 12:55
  Speaker 1: You know where I'm from? Uh-huh. 25 E.D. Street in Ohatchee.
• 13:00
  Speaker 1: It's a three-bedroom, two-bath home. Basically brand new. 1,200 square feet.
• 13:05
  Speaker 1: Priced at $ 235, 000. Built in 2026. Nice. Nice. And sitting
• 13:11
  Speaker 1: on one acre, one acre. Hey, an additional acreage is available,
• 13:16
  Speaker 1: by the way. So you can get an additional five
• 13:20
  Speaker 1: acres for, let's see. About 45 more thousand bucks. Nice.
• 13:26
  Speaker 1: So for 280, you can get six acres. How about that?
• 13:28
  Speaker 2: There you go.
• 13:29
  Speaker 1: This listing is courtesy of John Michael Brannon.
• 13:31
  Speaker 2: A couple of little fun facts about Ohatchee, though. I mean,
• 13:33
  Speaker 2: you've got the river going right through it. The Coosa
• 13:35
  Speaker 2: goes right through Ohatchee. You're real close to, like, the
• 13:37
  Speaker 2: Honda plant, Lincoln, Gadsden, Southside. And then you've got Robert
• 13:41
  Speaker 2: Trent Jones. Silver Lakes is pretty much Ohatchee. You're just
• 13:44
  Speaker 2: cutting right back through. So you're close to a few
• 13:46
  Speaker 2: things back there. But they've got some new stuff going on. Anyways,
• 13:49
  Speaker 2: that's my knowledge of Ohatchee. Okay. There you go.
• 13:52
  Speaker 1: All right.
• 13:53
  Speaker 2: So 235?
• 13:53
  Speaker 1: Yeah.
• 13:53
  Speaker 2: 235, we're going to go to 10% down. 10% down
• 13:56
  Speaker 2: to Gusty. 10% down, 235.
• 13:58
  Speaker 1: Hmm.
• 13:58
  Speaker 2: I'm going to go with 1395. I'm thinking 1440. 14-40.
• 14:23
  Speaker 2: I was just about to say that if John gets
• 14:25
  Speaker 2: this one exactly right, I was going to give him
• 14:27
  Speaker 2: the win today.
• 14:28
  Speaker 1: Yeah.
• 14:28
  Speaker 2: But he didn't. I did not. It was actually 14-38. Oh,
• 14:31
  Speaker 2: my gosh. So John gets that one. Wow. Gusty wins
• 14:38
  Speaker 2: the day.
• 14:38
  Speaker 1: That's incredible.
• 14:39
  Speaker 2: Three to two.
• 14:41
  Speaker 1: Man. Wow.
• 14:42
  Speaker 2: So when I'm on it, I'm on it. When I'm wrong,
• 14:43
  Speaker 2: I'm really wrong.
• 14:44
  Speaker 1: Wow.
• 14:47
  Speaker 2: John's two wins combined for $ 2 off.
• 14:50
  Speaker 1: I'm telling you. All right. Hey, we've got some buyer
• 14:53
  Speaker 1: needs that we want to talk about. We've got somebody
• 14:56
  Speaker 1: that is looking in the Trustville, Odenville, or Pell City area,
• 14:59
  Speaker 1: four bedrooms up to $ 500, 000. We've got somebody looking in
• 15:04
  Speaker 1: Cahaba Heights or Vestavia. They're looking for a townhome up
• 15:07
  Speaker 1: to $ 300, 000. We've got somebody looking in Homewood, actually multiple people.
• 15:14
  Speaker 1: So you might as well just say, if you've got
• 15:16
  Speaker 1: a home in Homewood, we would love to have a
• 15:17
  Speaker 1: conversation with you.
• 15:18
  Speaker 2: I'll let your boy.
• 15:19
  Speaker 1: Yeah, and we've also got people looking in Crestwood, Forest Park, Avondale,
• 15:23
  Speaker 1: and Liberty Park, up to $ 2 million. And last but
• 15:26
  Speaker 1: not least, a four-bedroom, three-bath, up to $ 250, 000, near Highway 79.
• 15:33
  Speaker 1: They've taken a new job off of Highway 79 and
• 15:36
  Speaker 1: want to be close by. Yeah. So up to $ 4, 300,
• 15:38
  Speaker 1: up to $ 250, 000. So you can go to GustyGhoulishGroup.com. You
• 15:43
  Speaker 1: can call or text 205-542-7000. 1996. Hey, guess what time
• 15:48
  Speaker 1: it is? That's right.
• 15:52
  Speaker 2: It's testimonial time. All right. Oh, three. Three. Reviews.
• 15:58
  Speaker 1: Man, we're going to break the time barrier. All right,
• 16:01
  Speaker 1: first one is for Jonathan, and Hunter says, Jonathan helped
• 16:06
  Speaker 1: us make sure we got the home we wanted in
• 16:08
  Speaker 1: a competitive situation. His knowledge of the market and guidance
• 16:11
  Speaker 1: gave us a leg up, and we got the house
• 16:13
  Speaker 1: we needed and wanted for our family. So, Hunter, congratulations
• 16:17
  Speaker 1: on your new home, and Jonathan, congratulations on another five-star review.
• 16:24
  Speaker 1: Annie said, Gusty was fantastic to work with and very
• 16:28
  Speaker 1: available when we had questions. As first-time homebuyers, it was
• 16:31
  Speaker 1: great to have someone so knowledgeable and helpful to walk
• 16:34
  Speaker 1: us through the whole process from touring homes to closing day.
• 16:38
  Speaker 1: Would recommend Gusty to anyone in the Birmingham area. So, Annie,
• 16:42
  Speaker 1: congratulations on your new home in Leeds.
• 16:44
  Speaker 2: And Gusty, congratulations on... Another five-star review.
• 16:51
  Speaker 1: And this is from Jesse. And Jesse says, Tony did
• 16:54
  Speaker 1: an excellent job. He showed exemplary knowledge of the Birmingham,
• 16:57
  Speaker 1: Alabama market as he provided multiple showings for multiple listings. Mr.
• 17:02
  Speaker 1: McDaniels was very friendly and exemplified excellent customer service when
• 17:06
  Speaker 1: writing up the sales offer. Mr. McDaniels was available for
• 17:09
  Speaker 1: all questions related to the sale and of the property
• 17:12
  Speaker 1: through to closing and presentation of the keys to the
• 17:16
  Speaker 1: new home. I definitely plan on working with Mr. McDaniels
• 17:19
  Speaker 1: on any future real estate transactions. Thank you. So, Jesse,
• 17:24
  Speaker 1: congratulations on your new investment property. And, Tony, congratulations on
• 17:29
  Speaker 1: another five-star review. I like them five-star reviews, ladies and gentlemen.
• 17:36
  Speaker 2: That's 15 stars, isn't it?
• 17:37
  Speaker 1: What's that?
• 17:38
  Speaker 2: 15 stars.
• 17:39
  Speaker 1: I believe so. Yeah. Yeah. That's a lot. All right. Hey,
• 17:43
  Speaker 1: y'all stay tuned. We're going to talk about what we're
• 17:45
  Speaker 1: seeing in the real estate market, get an update on
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  Speaker 1: mortgage interest rates right here on Ball Barton Sold. Stay tuned.
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  Speaker 1: Welcome back to Ball Barton Sold. Thank you again for
• 17:58
  Speaker 1: joining us each and every Sunday morning. Right here on 105.5.
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  Speaker 1: You can also go back and listen to any of
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  Speaker 1: our previous shows on the iHeartRadio app. And so we
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  Speaker 1: like to talk about in this segment what we're seeing
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  Speaker 1: in the real estate market, what we're seeing in interest rates.
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  Speaker 1: We got Brad Smith with Cross Country Mortgage always sharing
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  Speaker 1: his knowledge. And, you know, it's been a big week.
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  Speaker 1: We had election week. We saw the Democrats come in
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  Speaker 1: strong this past week. Yeah. Yeah, so what we've been
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  Speaker 1: seeing on the interest rates?
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  Speaker 2: Well, so they've continued to come down a little bit.
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  Speaker 2: So the 30-year average this week, kind of what we
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  Speaker 2: go off of that we look at is around 7.22%.
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  Speaker 2: We've had some decent movement in bonds. Later half of
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  Speaker 2: the week, it slowed down a little bit, had a
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  Speaker 2: little bit of a, some, maybe some little blips back
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  Speaker 2: up a little tiny bit, but like just, just to
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  Speaker 2: give it some, like if we, we, we talk about
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  Speaker 2: the 10 year treasury a good bit. So like it's
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  Speaker 2: 50 bits lower than it was a month ago to
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  Speaker 2: give you like, we're back around 490, 491, 492, somewhere
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  Speaker 2: in that range where we were, we got up to 540.
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  Speaker 2: And then where we were talking about this beginning of
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  Speaker 2: the year, earlier in the year, I think we were
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  Speaker 2: down in the three nineties for a little bit. So,
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  Speaker 2: so we've had some big swings there that we can
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  Speaker 2: see in the mortgage rates and fuel stuff. But, um,
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  Speaker 2: A lot of it is going to come down to
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  Speaker 2: right now where mortgage rates are going to go. Where
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  Speaker 2: does the stock market continue to either go up or down?
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  Speaker 2: And what do we feel comes out of these midterm elections?
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  Speaker 2: And do we have any rushes in or out? So
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  Speaker 2: the more money that goes in stocks is less that
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  Speaker 2: go into bonds, which is what drives the mortgage rates.
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  Speaker 2: And so if the stocks continue or kind of start
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  Speaker 2: to drop or we start having some issues with stock market,
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  Speaker 2: the bond market should pick up. That money is going
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  Speaker 2: to go somewhere and that would bring mortgage rates down.
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  Speaker 1: Yeah.
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  Speaker 2: And so, you know, there's been a couple of things
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  Speaker 2: this past week. I think Apple issued some corporate debt
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  Speaker 2: issuance and some, you know, kind of a, you know,
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  Speaker 2: which is kind of steals away from some bond market
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  Speaker 2: stuff and kind of says getting back off kind of
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  Speaker 2: just pure stock stuff. So, The market's reacted a little
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  Speaker 2: bit to that. But for the most part, you know,
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  Speaker 2: it's fuel and what is the stock going to do
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  Speaker 2: and kind of where do we see inflation going. But
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  Speaker 2: the end result was rates have come down a little bit.
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  Speaker 2: We hope they're going to continue to come down. If
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  Speaker 2: stocks don't have a resurge, we think the bond market
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  Speaker 2: is going to continue to respond positively, which will keep
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  Speaker 2: mortgage rates coming down in the right direction. But, again,
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  Speaker 2: it takes– Give and take. I'm telling you, you're going
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  Speaker 2: to have to have some suffering in your stock market,
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  Speaker 2: which means your 401Ks. Now, your 401Ks have bonds, too,
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  Speaker 2: and different stuff in them. But if stocks are hurting, great,
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  Speaker 2: you're getting a mortgage rate. But sometimes you might be like,
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  Speaker 2: I'd rather have the mortgage rate 7.25 or my stock
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  Speaker 2: would be bumping. So, again, be careful what you ask
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  Speaker 2: for on the mortgage rate side. And that's where we
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  Speaker 2: go back to sometimes. It's like, hey, it's a pretty
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  Speaker 2: balanced market, like mid-6s, low 7s. Like, that's not. terrible
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  Speaker 2: mortgage rates right when you start looking at 30-year fixed
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  Speaker 2: money so you know you know i don't i don't
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  Speaker 2: get as much about the rate as anymore except for
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  Speaker 2: like when we have a big swing like we did
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  Speaker 2: this past month we're like one week we were at 7.75
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  Speaker 2: and then we were like 7.4 and you're kind of
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  Speaker 2: trying to keep up with it and when the market usually.
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  Speaker 1: Doesn't move fast down no it usually moves fast up
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  Speaker 1: and so it's very slow.
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  Speaker 2: We had a we had a little quick quarter drop
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  Speaker 2: and people were getting locked and then wanting to relock
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  Speaker 2: and do stuff. So it causes a little bit of
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  Speaker 2: a headache in our world and some turnover and some stuff. But,
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  Speaker 2: I mean, you know, we try to watch it the
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  Speaker 2: best we can. But, again, different news cycles are going
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  Speaker 2: to do different stuff. And the biggest one that's affected
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  Speaker 2: us this year is the war in Iran.
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  Speaker 1: Oh, 100%.
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  Speaker 2: And that's what the main driver of all this rate is.
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  Speaker 1: Impacted the election, too.
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  Speaker 2: Impacted the election. Impacted what we're seeing in inflation. Impacted
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  Speaker 2: mortgage rates. It's impacted your gas pumps. We've all felt it.
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  Speaker 1: Yeah, no doubt. Well, I can tell you, our agents
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  Speaker 1: are putting about a house under contract every day. Yep.
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  Speaker 1: So we're reviewing contracts. And this is in all price ranges.
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  Speaker 1: We've got them from $ 50, 000 to $ 650, 000 to over a mil.
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  Speaker 1: I mean, shoot, I wrote a $ 1. 85 million offer on
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  Speaker 1: a house. Now, granted, it was contingent on the sale
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  Speaker 1: of a property. Yeah. They didn't even want to accept
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  Speaker 1: it because it was contingent on the sale of a property.
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  Speaker 1: I was like, bird in hand.
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  Speaker 2: I was about to say, how many other offers they had? None.
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  Speaker 1: No other offers. I'm like, are you serious?
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  Speaker 2: Stick your nose up at 1.85, would you?
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  Speaker 1: Oftentimes in those situations, that buyer is not going to
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  Speaker 1: want to come back to that house. Because of just
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  Speaker 1: the conversation of the negotiation and the positioning. And so,
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  Speaker 1: you know, I've seen it work and I've seen it
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  Speaker 1: not work. And I usually see it not work more
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  Speaker 1: than I see it work in those instances. Yeah.
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  Speaker 2: Oh, yeah.
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  Speaker 1: I thought that was super interesting.
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  Speaker 2: Yeah. That is very interesting. That's pretty confident.
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  Speaker 1: Yeah. Yeah. Yeah. I will say our luxury market has
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  Speaker 1: been good. Yeah.
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  Speaker 2: I mean, because there's not a ton there. That's right.
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  Speaker 2: If you're wanting to pay that much in a certain market.
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  Speaker 1: Yeah. I mean, we've got somebody coming in town, you know,
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  Speaker 1: at the end of this month. They want to start
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  Speaker 1: looking after Thanksgiving.
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  Speaker 2: Right.
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  Speaker 1: And they're up to 1.4, and it's going to be in, like,
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  Speaker 1: the western Hoover area, McCalla, that little area to be
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  Speaker 1: close to family. Yeah. And so, you know, we've got
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  Speaker 1: somebody that's, you know, going to be doing that pretty soon. Yeah. So,
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  Speaker 1: I mean, like we're... It's happening. Yeah. I mean, we've
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  Speaker 1: got clients in all price ranges. Ultimately, we would love
• 23:51
  Speaker 1: to have a conversation with you about anything real estate related. GustyGhoulsGroup.com
• 23:56
  Speaker 1: to get pre-qualified. BradSmithLoans.com. Thanks so much for joining us.
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  Speaker 1: We wish you an incredible rest of your week. See ya.
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  Speaker 2: Peace.