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The Market is Hot! · Bought Borrowed and Sold

• 0:00
  Speaker 1: All right, welcome to Bob bart and sold in Happy
• 0:03
  Speaker 1: Easter to each and every one of you. Man, it
• 0:08
  Speaker 1: has been busy in the real estate world, and you
• 0:12
  Speaker 1: know how about the mortgage world. Brad Smith with Cross
• 0:15
  Speaker 1: Country Mortgage Bradsmith alons dot com.
• 0:18
  Speaker 2: That's me, uh, I mean right now that all the
• 0:21
  Speaker 2: talk is the rate stuff and so but we've had
• 0:23
  Speaker 2: a couple of improvements this week, but which is good.
• 0:27
  Speaker 2: But it's pretty much just kept it has but it's
• 0:31
  Speaker 2: just pretty much been stopping the bleeding of what we lost.
• 0:33
  Speaker 2: So we're still sitting in them, you know as mid sixes,
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  Speaker 2: mid sixes, the mid sixes. But I think as we
• 0:41
  Speaker 2: start to hopefully get some traction and start freeing up
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  Speaker 2: some more of the oil in the Middle East kind
• 0:48
  Speaker 2: of area in that I'm used, how do you chnce it?
• 0:51
  Speaker 2: John Straight of Harmos, as we started getting that more
• 0:56
  Speaker 2: flow from there, I think I think they'll come right
• 0:58
  Speaker 2: back down because again all the technicals are good. But anyways,
• 1:00
  Speaker 2: staying busy. A lot of phone calls, but it's a
• 1:02
  Speaker 2: lot rate a lot more back to rate driven and
• 1:05
  Speaker 2: wondering where we're at.
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  Speaker 1: I mean, some of the things I dealt with dealt
• 1:09
  Speaker 1: with multiple offers this week working with buyers, and there's
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  Speaker 1: you know, if it's a really well priced house and
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  Speaker 1: it shows very well, it's getting a lot of eyeballs,
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  Speaker 1: it's getting a lot of showings, it's getting a lot
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  Speaker 1: of interest. But if you don't come out of the
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  Speaker 1: gate priced right like, you might get some showings. But
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  Speaker 1: I mean, we're trying to figure out and chase the
• 1:32
  Speaker 1: market on some of these houses, and it's it can
• 1:37
  Speaker 1: be a challenge for sure. Definitely, it definitely makes a
• 1:40
  Speaker 1: big difference when you you really if you're looking at
• 1:46
  Speaker 1: selling a house, it makes a big difference in the
• 1:48
  Speaker 1: preparation in advance of going to the market. And I
• 1:52
  Speaker 1: met with some folks and I mean, we're going to
• 1:55
  Speaker 1: get quotes on a roof because we don't really know
• 1:57
  Speaker 1: the age of a roof. We know it's older, we
• 2:00
  Speaker 1: know it doesn't look like, you know, brand new, but
• 2:04
  Speaker 1: and we know that a lot of people that are
• 2:06
  Speaker 1: especially first time home buyers, they ain't got you know,
• 2:09
  Speaker 1: ten fifteen twenty K to spend on a roof, So
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  Speaker 1: does it make more sense to go ahead and do
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  Speaker 1: that and uh, you know, go ahead and repaint on
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  Speaker 1: the interior, and I think just when you do some
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  Speaker 1: interior repainting, it just it helps catch some smells that
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  Speaker 1: might be in there. And for sure, So I was
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  Speaker 1: meeting with about a home in the Oak Mountain area,
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  Speaker 1: and so we're looking at and getting you know, quote
• 2:34
  Speaker 1: pricing out roof and paint and all that fun stuff.
• 2:38
  Speaker 1: And yeah, so.
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  Speaker 2: That is fun though, I mean it starts getting that
• 2:43
  Speaker 2: that part gets kind of kind of fun and kind
• 2:46
  Speaker 2: of jolt little energy there and kind of it's a
• 2:48
  Speaker 2: fun It's a fun change up for maybe the normal
• 2:51
  Speaker 2: day to day of what of what your day entails.
• 2:53
  Speaker 1: That's right, That's right. I mean I'm all over the place.
• 2:56
  Speaker 1: I mean I've I've been spending a lot of time
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  Speaker 1: in the truck and heading all over town and showing houses.
• 3:03
  Speaker 1: The teams showing houses. I mean, like, I think we
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  Speaker 1: put nine homes under contract this past week. So you know,
• 3:10
  Speaker 1: I got I need to get some shout outs. I mean,
• 3:14
  Speaker 1: Dayleen on our team. She just joined us a couple
• 3:16
  Speaker 1: of a couple of months ago. She put three homes
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  Speaker 1: under contract this past week. She started her real estate
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  Speaker 1: career in the Montgomery area, moved to Michigan for a
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  Speaker 1: little bit and then moved back to Birmingham and she's
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  Speaker 1: been with us for a couple of months and she's
• 3:30
  Speaker 1: doing a fantastic job. Tony McDaniels put one under contract.
• 3:35
  Speaker 1: Kyle Bedgood put three homes under contract. Kyle is just
• 3:38
  Speaker 1: rocking and rolling. John Riddle put one under contract. Ashley
• 3:44
  Speaker 1: Ashley Stagg's put one under contract. In Richie Albley put
• 3:48
  Speaker 1: one under contract. So we've been we've been rocking. I
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  Speaker 1: love seeing so we do pipeline meetings and just going
• 3:58
  Speaker 1: through like everybody's everybody's deals, and I have been over
• 4:02
  Speaker 1: the last two months. I have been super hard on
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  Speaker 1: our team, making sure that they are up to date
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  Speaker 1: with everything, making sure that they don't have any past
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  Speaker 1: do follow up task, making sure that they've got follow
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  Speaker 1: up tasks, you know, scheduled, making sure that they've got
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  Speaker 1: backgrounds and summaries on everybody. And I tell you, this
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  Speaker 1: past week was the best week I've had in pipeline
• 4:26
  Speaker 1: meetings in the last two months.
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  Speaker 2: That's awesome.
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  Speaker 1: Makes a huge difference, and I can tell this is
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  Speaker 1: going to really over the next two to three it
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  Speaker 1: We're going to see a huge benefit in what we've
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  Speaker 1: got under contract. Our closings and everything. So you know,
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  Speaker 1: I'm really excited about the second quarter.
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  Speaker 2: Well, it builds good habits for also for to go forward,
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  Speaker 2: and so you know, hopefully you're you know again, you're
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  Speaker 2: you're doing but doing a really good job of kind
• 4:53
  Speaker 2: of teaching them how to fish. That's right, that's right,
• 4:56
  Speaker 2: and not just giving them the fish. So well, we've got.
• 4:59
  Speaker 1: We've got some new listings that are that are coming up,
• 5:03
  Speaker 1: new listings that have just popped. We typically don't do
• 5:06
  Speaker 1: open houses on Easter Sunday, so you know, we're gonna
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  Speaker 1: be spending time with our family a little bit later on,
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  Speaker 1: and uh, we're gonna be rolling up to Gaston for
• 5:16
  Speaker 1: a little bit. Hey me too, there you go, I
• 5:19
  Speaker 1: might might see. You're gonna get us a little bit
• 5:21
  Speaker 1: of Mater's pizza. I love that place and and so yeah,
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  Speaker 1: so we're taking an open house break, but we'll be
• 5:30
  Speaker 1: back on next week for open houses. But yeah, let's
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  Speaker 1: go ahead, and let's go ahead and get the game going.
• 5:35
  Speaker 1: Some bride tell the rules to everybody that.
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  Speaker 2: All right, Guss he's gonna go through the new listings
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  Speaker 2: and he's gonna give us all the key features and
• 5:42
  Speaker 2: cool things about the property. But the main thing I
• 5:44
  Speaker 2: need to know is what is the list price of
• 5:46
  Speaker 2: the home. And so when Gusty lets me know what
• 5:48
  Speaker 2: the purchase price is, I'm gonna give a potential down
• 5:50
  Speaker 2: payment that the bar may make, and then Gusty and
• 5:52
  Speaker 2: John Mounts are going to guess their best, their best,
• 5:56
  Speaker 2: yo best, Yeah, hypotheses of what the payments it's going
• 6:00
  Speaker 2: to be on their educated guests. So thirty year fixed,
• 6:04
  Speaker 2: monthly principal interest only, no, no s grows, none of
• 6:07
  Speaker 2: that stuff.
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  Speaker 1: So start off with, Hey, John, we know we're gonna
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  Speaker 1: get thirty year fix. You know he's not going to
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  Speaker 1: throw us some curve balls.
• 6:14
  Speaker 2: Well, there's only there's only a odd numbered day, so
• 6:16
  Speaker 2: I don't have to have a tie break or something.
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  Speaker 3: But if there's two that are close together, sometimes you
• 6:20
  Speaker 3: have to get greeny times.
• 6:21
  Speaker 2: I'd usually try to manipulate the down payments a little
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  Speaker 2: bit about that. We had a we had a decent
• 6:24
  Speaker 2: cushion here, Okay, so we're.
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  Speaker 1: Going to go. Our first new listing of the week
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  Speaker 1: is in the Center Point Area six one two twenty
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  Speaker 1: seventh Avenue Northwest. This was built in nineteen sixty two.
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  Speaker 1: Three bedrooms, two baths. It's fourteen hundred and thirty one
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  Speaker 1: square feet on the main levels, and it is six hundred,
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  Speaker 1: six hundred and forty eight square feet finished in the basement.
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  Speaker 1: And yeah, we're asking one ninety six nine, one ninety
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  Speaker 1: six nine. And this listing is courtesy of Daily in
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  Speaker 1: Carters or Dailyen. Congratulations on your new by the way,
• 7:01
  Speaker 1: it's got a newer HVAC and a water heater, so
• 7:04
  Speaker 1: a little piece of mind for it.
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  Speaker 2: Nice getting contracts, got a little new listings. Good job, all right,
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  Speaker 2: one ninety six nine. That's right, ten percent.
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  Speaker 1: Down, ten percent down. I'm gonna go with twelve hundred dollars.
• 7:24
  Speaker 2: Gonna go a little lower with eleven hundred. The actual
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  Speaker 2: payment was one thousand, one hundred and thirty five dollars.
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  Speaker 2: John Mounts gets round one. Man, it's gonna be a
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  Speaker 2: tight game.
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  Speaker 3: I can feel it.
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  Speaker 1: Uh uh, look out, look out, all right. Our next
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  Speaker 1: new listing of the week is also in center Point.
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  Speaker 1: This one is twenty eight oh five second place Northwest.
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  Speaker 1: This one is on almost half an acre lot not
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  Speaker 1: built in nineteen sixty five. It's four bedrooms, three baths,
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  Speaker 1: fifteen hundred and ninety four square feet on the main level.
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  Speaker 1: Another five hundred and ninety four square feet finished in
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  Speaker 1: the basement. It's got a one car garage. And uh,
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  Speaker 1: we're asking to nineteen two hundred and nineteen thousand dollars.
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  Speaker 1: This listing is courtesy of Tony McDaniel. So, Tony, congratulations
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  Speaker 1: on your knie listing to.
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  Speaker 2: Nineteen putting five percent down? Five percent and it's to John.
• 8:29
  Speaker 3: Yes, I'm I'm calculating. I'm calculating. I feel like Columbus.
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  Speaker 3: How about a how about? No, that's too high? That
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  Speaker 3: it's too high? What the heck? Fourteen hundred? I don't
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  Speaker 3: think it's part too high.
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  Speaker 1: M there's no telling. Let's see, I'll give the hint
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  Speaker 1: of the day. You said five percent down, Yeah.
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  Speaker 2: Fourteen ninety two would have been too high.
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  Speaker 1: Okay, what did he say?
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  Speaker 2: Fourteen hundred? I was, yeah, I was about and I
• 9:03
  Speaker 2: went down. So all I did is I don't think
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  Speaker 2: I gave Gusty a huge there. But I'll just letting
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  Speaker 2: you know that you were you were right to go
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  Speaker 2: down from there.
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  Speaker 1: Oh lord, Okay, Now I feel like you've just confused me.
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  Speaker 1: I feel like you just threw me a curveball.
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  Speaker 2: Well, you know if John gets to win because of it,
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  Speaker 2: you know, I get.
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  Speaker 3: The feeling your root for me.
• 9:21
  Speaker 1: I think just to sit guy, definitely, I didn't know
• 9:23
  Speaker 1: that was a hundred, so I mean it's like, uh, man,
• 9:30
  Speaker 1: isn't this your business? Though? I mean it is, but
• 9:32
  Speaker 1: he just he's just messing with me, and I don't
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  Speaker 1: like it.
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  Speaker 2: It's getting that psyche a little bit.
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  Speaker 1: Man, Why did you do that?
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  Speaker 2: It have really impacted you at all. You weren't going
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  Speaker 2: to fifteen hundred.
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  Speaker 1: I was not going to fifteen hundred. But I don't, man,
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  Speaker 1: I am thinking it's thirteen sixty one.
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  Speaker 2: Thirteen sixty one. The actual payment was thirteen thirty eight.
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  Speaker 2: Gusty gets around too.
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  Speaker 3: He's been pretty tight so far.
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  Speaker 2: Yeah, one to one with the one property to.
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  Speaker 1: Go, all right. Our last new listing of the week
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  Speaker 1: is in Odinville twenty one ninety Summit Park Road. This
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  Speaker 1: was built in twenty nineteen on almost three quarters of
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  Speaker 1: an acre lot, three bedrooms, two baths. It's a one
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  Speaker 1: level brick home with a two car garage, fourteen hundred
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  Speaker 1: and sixty six square feet and we're asking to eighty
• 10:24
  Speaker 1: nine to nine to eighty nine to none and man
• 10:30
  Speaker 1: here's what's crazy. Saint Clair County taxes all right, two
• 10:34
  Speaker 1: eighty nine nine. Guess what the taxes are on this thing?
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  Speaker 2: Seven hundred bucks?
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  Speaker 1: What do you think, John, I'm I'm doing the game behind, you.
• 10:41
  Speaker 3: Know, behind the game. Well that's the asking price, but
• 10:44
  Speaker 3: that's not what it's valued at though. That's right, right,
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  Speaker 3: So it's hard to say for sure, But I don't know.
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  Speaker 1: A thousand bucks seven hundred and forty seven bucks for taxes.
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  Speaker 3: Yeah, I think, yeah, I mean, I got I got
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  Speaker 3: to get out of Jefferson County.
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  Speaker 1: So this one's got granite countertimes, has got the lv
• 11:00
  Speaker 1: HE flooring, and they're willing to do a little bit
• 11:02
  Speaker 1: of a carpet allowance too, so that's nice. This listening
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  Speaker 1: is courtesy of Carla Diliberto and it is two eighty
• 11:09
  Speaker 1: nine to nine, two eighty nine to nine.
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  Speaker 2: Twoty nine nine, five percent down back to start with gusty. Okay,
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  Speaker 2: this is for the game.
• 11:20
  Speaker 1: For the game, five percent down.
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  Speaker 2: And this has nothing to do with Christopher Columbus.
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  Speaker 1: No, definitely, not.
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  Speaker 3: Much later than Christopher Columbus or earlier or earlier. I
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  Speaker 3: don't want to.
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  Speaker 1: Mm hmmm. Seventeen thirty one.
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  Speaker 3: I'm feeling patriotic. Seventeen seventy six.
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  Speaker 2: I thought he might do it. The actual payment was
• 11:53
  Speaker 2: seventeen sixty four.
• 11:55
  Speaker 1: Oh my, yes, it's an Eastern racle.
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  Speaker 2: Once he went that route before, I was like, he
• 12:01
  Speaker 2: may go seventeen seventy six here.
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  Speaker 3: And I don't know many days.
• 12:04
  Speaker 1: So that's funny. Well, John Winsdaday, look out. Congratulations John.
• 12:12
  Speaker 1: You know it's been a few months since you won.
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  Speaker 1: So there you go.
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  Speaker 3: Even a blind bunny can sometimes find an egg. That's right.
• 12:18
  Speaker 2: Hey, the first one of twenty twenty six. No, I
• 12:22
  Speaker 2: couldn't have started. Remember when that when that listen, I
• 12:25
  Speaker 2: can't live aready in April.
• 12:26
  Speaker 1: So hey, we've got we've got some coming soons in Birmingham.
• 12:32
  Speaker 1: We've got coming soons and mccallough. We've got coming soons
• 12:36
  Speaker 1: in Homewood. We've got coming soons in Adamsville. Actually, we've
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  Speaker 1: got a new price in Adamsville, forty seven forty seventeen
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  Speaker 1: Flower Street. We got a new price of one hundred
• 12:47
  Speaker 1: and thirty five thousand. That's a three bedroom, one bath
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  Speaker 1: with one thousand and fifty square feet. And we've also
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  Speaker 1: got a new price in Penson on sixty eight thirteen
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  Speaker 1: Sandmore Drive, three bedrooms, two baths, thirteen and twenty one
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  Speaker 1: square feet at one hundred and ninety five thousand. So
• 13:02
  Speaker 1: we've got some vip by our needs. We've got somebody
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  Speaker 1: looking in the Griffin Park or Eagle Point neighborhood four bedrooms,
• 13:09
  Speaker 1: three baths up to six hundred thousand. I've got somebody
• 13:12
  Speaker 1: looking in the Cabba Heights or Vestavia neighborhood or Vestavia
• 13:17
  Speaker 1: City town home up to three hundred thousand. I've got
• 13:20
  Speaker 1: somebody looking in the Leeds Moody or pel City area
• 13:23
  Speaker 1: up to one hundred and fifty thousand. I've got somebody
• 13:26
  Speaker 1: looking for a four bedroom, three bath with a large
• 13:29
  Speaker 1: garage or basement and near Vestavia, Liberty Park, Mountain Brook areas,
• 13:34
  Speaker 1: so kind of that Cabba Heights Little Cove area up
• 13:38
  Speaker 1: to seven hundred thousand. I've got somebody looking austin Liberty Park,
• 13:42
  Speaker 1: Vestavia up to five sixty. I've got people looking at Edgewood.
• 13:45
  Speaker 1: I've got folks kind of looking a little bit everywhere.
• 13:48
  Speaker 2: If you've got a house, Gus, you probably almost to buy. Go.
• 13:51
  Speaker 1: You can call us at two five five, four to
• 13:53
  Speaker 1: two nineteen ninety six. You can also go to gustygoulisgroup
• 13:56
  Speaker 1: dot com. We'd love to have a conversation with you
• 13:58
  Speaker 1: and build a plan of action together and go from there. Hey,
• 14:02
  Speaker 1: guess what time it is. That's right, it's testimonial time. Hey,
• 14:09
  Speaker 1: we've got a couple of reviews today that we're gonna share.
• 14:12
  Speaker 1: The first one is from mister Conwane. I had the
• 14:15
  Speaker 1: pleasure of working with Gusty, found him one of the
• 14:18
  Speaker 1: found him one of the best person to work with.
• 14:21
  Speaker 1: He not only helped us during initial property buying time,
• 14:24
  Speaker 1: but continue to help us still for any question in
• 14:27
  Speaker 1: any help I need, especially that I do not live
• 14:30
  Speaker 1: in the same town. He's extremely responsible and professional. Well
• 14:34
  Speaker 1: mister Kanwaanni, thank you for the opportunity to help you
• 14:37
  Speaker 1: on your new place. And hey myself, congratulations on another
• 14:43
  Speaker 1: five star reviews. That's right, that's right. And last but
• 14:46
  Speaker 1: not least, oh another one for me. Oh, this is
• 14:50
  Speaker 1: from miss Cruiser. I worked with Gusty of the Gusty
• 14:52
  Speaker 1: Gillis Group to sell my home. He was fantastic. His
• 14:57
  Speaker 1: group was very organized, professional and fast. That's selling my home.
• 15:01
  Speaker 1: I would definitely use them again. So this cruiser, Thank
• 15:04
  Speaker 1: you so much for the opportunity to sell your house.
• 15:07
  Speaker 1: And hey myself, congratulations.
• 15:09
  Speaker 2: On another five star review.
• 15:13
  Speaker 1: We like them five star reviews, ladies and gentlemen, buddy.
• 15:16
  Speaker 1: All right, all right, y'all, stay tuned. Hey, we're gonna
• 15:19
  Speaker 1: go to break. We're gonna talk a little bit more
• 15:21
  Speaker 1: about what we're seeing on the mortgage side, the real
• 15:23
  Speaker 1: estate side in this market of Birmingham right here on
• 15:26
  Speaker 1: bob Burn and Sold. Stay tuned, all right, welcome back
• 15:31
  Speaker 1: to bob Burn and Sould. Thank you for joining us
• 15:33
  Speaker 1: each and every Sunday talking about Birmingham, Alabama real estate,
• 15:38
  Speaker 1: what we're seeing in the real estate market, what we're
• 15:41
  Speaker 1: seeing in the mortgage world, also with Cross Country Mortgage.
• 15:46
  Speaker 1: Brad Smith, So, I know we touched on a little
• 15:49
  Speaker 1: bit on our you know first break, our first you
• 15:53
  Speaker 1: know segment. But rates, you know, we've seen a big
• 15:57
  Speaker 1: difference over the last month with the War of Irans started,
• 16:00
  Speaker 1: and and we've seen rates go up about what half
• 16:04
  Speaker 1: percent a little bit more than that yep. Any and
• 16:08
  Speaker 1: you said a little bit of movement, yep, this week
• 16:10
  Speaker 1: we've seen.
• 16:11
  Speaker 2: Yeah, so we've gotten it back down. Let's just yeah,
• 16:14
  Speaker 2: we're we're settling more into six and a half now,
• 16:17
  Speaker 2: where we may have been a little bit above it
• 16:19
  Speaker 2: last week. Yeah, and so a lot of that is
• 16:22
  Speaker 2: just becoming from some you know, a lot of it
• 16:26
  Speaker 2: is you know, what what's the what's the temperature of
• 16:28
  Speaker 2: the conversations and stuff. So so with with Trump making
• 16:31
  Speaker 2: a couple of announcements and some different stuff coming on
• 16:34
  Speaker 2: the news, you know, like I said, with with it
• 16:36
  Speaker 2: looking like we're going to start freeing up some more
• 16:38
  Speaker 2: of the oil. Oil prices come down. That's normally when
• 16:41
  Speaker 2: the mortgage mortgage bonds usually kind of follow that trade
• 16:44
  Speaker 2: and kind of and kind of, well they go up,
• 16:47
  Speaker 2: so the rates come down, and so it's really just
• 16:50
  Speaker 2: freeing up that that extra cash that's going into oil
• 16:53
  Speaker 2: prices to go back into the bonds and stock market.
• 16:56
  Speaker 2: So basically it's like it's basically saying, we're taking this
• 16:59
  Speaker 2: money from here and putting it there, so we need
• 17:01
  Speaker 2: to get that leveled back out. And it will and
• 17:04
  Speaker 2: we're you know, job market's still okay, it's not great.
• 17:08
  Speaker 2: We see that coming inflation slowing down that we're still
• 17:12
  Speaker 2: getting good reports on that. So the technicals are still
• 17:14
  Speaker 2: showing where we were thinking we would be sometime in
• 17:17
  Speaker 2: the summer down in the mid five's ish, So you know,
• 17:20
  Speaker 2: it's kind of the things like that, those things aren't
• 17:22
  Speaker 2: not happening just because this is going on. So as
• 17:25
  Speaker 2: we get good news now, it kind of it does
• 17:28
  Speaker 2: start to take back down. And then once we kind
• 17:30
  Speaker 2: of free that back up, hopefully to see kind of
• 17:32
  Speaker 2: a you know, this one will be in a little
• 17:34
  Speaker 2: bit more inflated because of a true world event. I
• 17:39
  Speaker 2: do think we'll see it come back down a little quicker. Okay,
• 17:42
  Speaker 2: what I was going to ask, once we have that
• 17:44
  Speaker 2: short up and it's just going to follow the oil prices,
• 17:47
  Speaker 2: I mean, I mean one hundred percent can tell you
• 17:50
  Speaker 2: when you're when you're looking at the gas pumps and
• 17:52
  Speaker 2: they start coming back down, that mortgage rates are coming
• 17:55
  Speaker 2: with them. So I mean that. I mean the ten
• 17:57
  Speaker 2: year too. But the ten uere hasn't been quite as
• 17:59
  Speaker 2: te us worthy because that margin between the two has
• 18:02
  Speaker 2: been because there's been so many random things going on
• 18:04
  Speaker 2: that that impact our economy opposed to worldwide economy, and
• 18:07
  Speaker 2: then some events like this, so that margin has been
• 18:10
  Speaker 2: changing a little bit, so they're not necessarily in a
• 18:13
  Speaker 2: true one on one correlation right now, maybe where they
• 18:16
  Speaker 2: have been in the past. So but I'm telling you
• 18:19
  Speaker 2: you can. You can you can go by a gas
• 18:20
  Speaker 2: station see what the prices are doing, and you can
• 18:22
  Speaker 2: you can have an idea of what mortgage rates are
• 18:24
  Speaker 2: going up or down. I say, where they are, but
• 18:27
  Speaker 2: you can know what direction, right Yeah, Well, I mean
• 18:30
  Speaker 2: then that's that's that's that's always been the case.
• 18:33
  Speaker 3: Have you.
• 18:33
  Speaker 1: I mean, you've been doing this like twenty years yep.
• 18:36
  Speaker 1: Just I mean, just like me. I got my license
• 18:38
  Speaker 1: to soel real estate in two thousand and six. I
• 18:41
  Speaker 1: did mortgages actually for a couple of years before that.
• 18:44
  Speaker 1: Do you ever remember a time where it actually, you know,
• 18:46
  Speaker 1: we talk about rates going up fast, but typically they
• 18:49
  Speaker 1: come back down very slowly. Is there anything that kind
• 18:54
  Speaker 1: of you know, just any times that they've come down quick?
• 18:59
  Speaker 2: Oh, covid Covin. I mean when that, when that started happening,
• 19:03
  Speaker 2: I mean they just I mean, I mean they were
• 19:06
  Speaker 2: just bottoming out there. I mean it was almost like,
• 19:08
  Speaker 2: you know, you start looking at Wolf of Wall Street
• 19:10
  Speaker 2: and the phone's ring and I can remember not being
• 19:12
  Speaker 2: not being allowed to leave the house. Yeah, and my
• 19:15
  Speaker 2: phone not stop ringing all day, and if I talked
• 19:18
  Speaker 2: to you at nine o'clock in the morning and quoted
• 19:20
  Speaker 2: you were eight, it was probably lower that afternoon. And
• 19:23
  Speaker 2: if I mean significantly, and if I locked you that
• 19:26
  Speaker 2: morning and you called me back that afternoon, you know.
• 19:29
  Speaker 2: But but here's the good news. They were jumping ship
• 19:31
  Speaker 2: and one another lender because it had dropped you know,
• 19:33
  Speaker 2: three three eighths of a percent in four hours. Wow.
• 19:38
  Speaker 2: But the good news is that I was getting there.
• 19:39
  Speaker 2: Is they locked you know what I mean, we were
• 19:41
  Speaker 2: we were all trading borrowers or but but I mean
• 19:44
  Speaker 2: it was it was I mean we went from I
• 19:48
  Speaker 2: mean we think we ended up at like two and
• 19:49
  Speaker 2: a half four two point six two five for a
• 19:51
  Speaker 2: little bit. But I mean we we went from four
• 19:52
  Speaker 2: and a half to low threes within a couple of
• 19:56
  Speaker 2: maybe a couple of weeks. I mean that was that
• 19:58
  Speaker 2: and that was a huge jump. But it was just
• 20:00
  Speaker 2: I mean, people were buying more houses, people were refinancing
• 20:03
  Speaker 2: their house, then buying a house, and then refinancing that house.
• 20:06
  Speaker 2: I mean, but that was that was the most That
• 20:08
  Speaker 2: was the quickest I can remember. It just just constantly
• 20:12
  Speaker 2: just continuing to drop, drop, drop.
• 20:14
  Speaker 1: Well and then when race got that low, you know,
• 20:17
  Speaker 1: then that's when you see prices accelerate, right.
• 20:20
  Speaker 2: Because you mean, think about money was so cheap. Money
• 20:22
  Speaker 2: was so cheap, I mean you put so many more people,
• 20:25
  Speaker 2: had so much more buying power, right, and and then
• 20:29
  Speaker 2: wouldn't like a lot like we see now people were
• 20:31
  Speaker 2: buying people instead of selling, they refinancing their current house.
• 20:35
  Speaker 2: And so going back to prices going up, they weren't
• 20:39
  Speaker 2: selling their current house, they were refinancing it as a
• 20:41
  Speaker 2: primary living in another six months then decided to buy
• 20:44
  Speaker 2: something and leaving that as a rental. So not only
• 20:47
  Speaker 2: do we have more people with more buying power, we
• 20:49
  Speaker 2: had less people selling because they were keeping their current
• 20:51
  Speaker 2: using as a rental because the margin was so good,
• 20:54
  Speaker 2: and so it just did keep increasing values. So it's
• 20:57
  Speaker 2: been pretty impressive, honestly, with rapes going up, that we've
• 21:00
  Speaker 2: continue to keep an appreciation going in that you know,
• 21:03
  Speaker 2: anywhere between four, five, six seven percent, depending on where
• 21:06
  Speaker 2: you are. Seeing that key continue throughout has been pretty
• 21:08
  Speaker 2: impressive really to think about that eighteen month stretch of
• 21:12
  Speaker 2: where and we're I'm gonna say that we got them inflated,
• 21:15
  Speaker 2: but it was a little artificial market there for a
• 21:16
  Speaker 2: little bit.
• 21:17
  Speaker 1: I'll tell you it's it's interesting. We've I feel like
• 21:21
  Speaker 1: obviously it really depends on what part of town you're in, right,
• 21:25
  Speaker 1: but I mean we've got some areas that have seen massive,
• 21:29
  Speaker 1: massive appreciation. I mean we talk about Homewood. Homewoods seen
• 21:32
  Speaker 1: a massive appreciation the last couple of years, Mountain Brook,
• 21:35
  Speaker 1: you know, a lot of the over the mountain areas
• 21:37
  Speaker 1: have seen massive appreciation when typical appreciation is not going up,
• 21:42
  Speaker 1: like like you know, what we would typically see.
• 21:45
  Speaker 2: National average is sitting around two two and a half
• 21:46
  Speaker 2: percent last year year every year. But still again that's impressed,
• 21:49
  Speaker 2: which are about the whole country average. But yeah, I mean,
• 21:53
  Speaker 2: I mean yeah, but we definitely see in our markets
• 21:56
  Speaker 2: and some of these markets even being on a whole
• 21:58
  Speaker 2: nother level of that of that percentage. Yeah, heck, we
• 22:02
  Speaker 2: both live in Homewood and kind of know how that
• 22:03
  Speaker 2: that war is. And you you you dabble in all
• 22:06
  Speaker 2: those markets a lot.
• 22:07
  Speaker 1: That's right, Yeah, it's And I'll tell you it's interesting, like,
• 22:10
  Speaker 1: I mean, we have multiple offer situation. I'm waiting to
• 22:12
  Speaker 1: find out, you know, what's going to happen. But I mean,
• 22:14
  Speaker 1: this is a multiple offer situation, I will say, they
• 22:17
  Speaker 1: prepared this house really really nice in the narrows down
• 22:21
  Speaker 1: you know, Oak Mountain area, like you're going to stare
• 22:25
  Speaker 1: at Chelsea area and I've got a I've got a
• 22:29
  Speaker 1: fantastic couple that we're working with that you know, just
• 22:32
  Speaker 1: wants you know, moving ready, and uh, I know, at
• 22:37
  Speaker 1: least three offers, but we're coming in strong cash. No
• 22:40
  Speaker 1: inspection contingency went overless prize, but they had everything looking
• 22:47
  Speaker 1: spotless on this house, I mean, updated, just an incredible
• 22:51
  Speaker 1: So I'm hoping we're gonna get some good news. But
• 22:55
  Speaker 1: you know, and then I've got homes I've been on
• 22:57
  Speaker 1: the market sixty days.
• 22:58
  Speaker 2: Oh yeah, yeah, So.
• 23:00
  Speaker 1: It does depend. Like every area is different, every house
• 23:03
  Speaker 1: is different. So you know, I will say, like, you know,
• 23:08
  Speaker 1: if you have an idea of like just kind of
• 23:10
  Speaker 1: ballparking thinking about selling your house, let's just have a conversation.
• 23:14
  Speaker 2: Yeah, just talk about it.
• 23:16
  Speaker 1: Let's see if like does it make sense now, does
• 23:19
  Speaker 1: it make sense later on the year, next year, Like,
• 23:22
  Speaker 1: it's not gonna hurt having conversations. So you can always
• 23:26
  Speaker 1: go to gustygoulisgroup dot com or you can shoot us
• 23:29
  Speaker 1: text two A five five four two nineteen ninety six.
• 23:33
  Speaker 1: You can call us there too, Brad, thank you again
• 23:36
  Speaker 1: for of course being on. If you need to get
• 23:40
  Speaker 1: pre qualified for a mortage, go to Brad Smith Loans
• 23:43
  Speaker 1: that come all right, Thanks so much, hope you have
• 23:45
  Speaker 1: an amazing easter. We'll catch you next time.