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FHA Loans with Rock Realty · Ask The Experts

0:05
Speaker 1: Thirty seven thirteen ten wy me, I ask the expert.
0:09
Speaker 1: Hanging out in studio this Tuesday morning with Mattman. Of course,
0:12
Speaker 1: Matt comes to us from Rockrealty Online Rock Wisconsin dot com.
0:16
Speaker 1: That's our ock with Wisconsin dot com. The telephone number
0:22
Speaker 1: four Rock Realty really easy to get hold of them
0:24
Speaker 1: six O eight six seven three fifty four hundred. That's
0:26
Speaker 1: six seven three fifty four hundred. And again that website,
0:29
Speaker 1: Rock Wisconsin dot com. That's Rock ro ock Wisconsin dot com. Matt,
0:34
Speaker 1: how you doing this week? Doing great? Good to talk
0:36
Speaker 1: to you. You're talking about you and your wife are
0:39
Speaker 1: catching up on this is us. It's been a couple
0:42
Speaker 1: of years since. Uh uh, I will say this about you, Matt.
0:46
Speaker 1: That surprised me that that was something that you'd be into.
0:48
Speaker 1: You loved it, well, you know you got to keep
0:50
Speaker 1: away happy. Yes, say better wife, better life. It's a
0:53
Speaker 1: great show. Yeah, it's long, six seasons. Have you concluded?
0:57
Speaker 1: Have you ye? Just finished? Just finished? Everything so perfect?
1:00
Speaker 1: What are you gonna? Did you watch Ted Lasso when
1:02
Speaker 1: that was on the air. That's uh, that's kind of
1:04
Speaker 1: got a little a little sentimental value.
1:07
Speaker 2: You can enjoy that effects well, I think I'm sentimental
1:09
Speaker 2: out for the moment, you know, do some action movies.
1:14
Speaker 1: Perfect. Well, it's good to see you, and we've we've
1:16
Speaker 1: got an important conversation about We're going to talk about
1:19
Speaker 1: f h A Federal Housing Administration FAHA loans and what
1:23
Speaker 1: exactly it is, how they help folks out, how it
1:26
Speaker 1: was established. When we get all the details from Matt
1:28
Speaker 1: in just a moment, it's going to be a really
1:29
Speaker 1: important conversation. Uh. Though. We start out with something a
1:33
Speaker 1: house the featured listing this week, and I see the
1:37
Speaker 1: word Middleton, and I know there are people that as
1:41
Speaker 1: soon as they hear the word housing in Middleton salivate
1:45
Speaker 1: for good reason. Yes, it is a very desirable area,
1:50
Speaker 1: very desirable school district. And this is a really really
1:54
Speaker 1: nice what do you call it, a split level ranch
1:57
Speaker 1: or s level by level? Okay, and it's a very
2:00
Speaker 1: very nice looking home. Let's talk about this week's featured listening, Matt, Sure.
2:04
Speaker 2: Yeah, this one's at six six nine Cooper Avenue in Middleton.
2:09
Speaker 2: It's listed for three hundred and ninety thousand. Nice thing
2:12
Speaker 2: about that is it's really hard to find any single
2:14
Speaker 2: family home under four hundred thousand at Middleton. Yes, part
2:17
Speaker 2: of the reason it's attractive is the school system, as
2:21
Speaker 2: you know, and you know, after a certain amount of time,
2:24
Speaker 2: that does increase the prices in areas that people want
2:27
Speaker 2: to be at.
2:28
Speaker 1: So when four bedrooms, one full bath, one half bath,
2:34
Speaker 1: it's it's a beautiful, beautiful home is mentioned in Middleton.
2:38
Speaker 1: With some of those school districts too, I always feel
2:40
Speaker 1: like there are the places folks want to be for schools,
2:44
Speaker 1: and the cool thing about that is that never it
2:47
Speaker 1: doesn't go away. It's that's not like a passing fat.
2:50
Speaker 1: I think of like some areas where it's like, hey,
2:52
Speaker 1: they're really hot and then they kind of cool down.
2:54
Speaker 1: If you've got good schools, it's like this engine that
2:57
Speaker 1: builds on itself where it just suddenly becomes a very
3:00
Speaker 1: long term desirous area to be to be in. And
3:03
Speaker 1: Middleton definitely checks those boxes.
3:05
Speaker 2: Yeah, I agree, And I think it sticks in people's
3:08
Speaker 2: mind long term too, you know. I mean when I
3:10
Speaker 2: you know, when Middleton won that you know, Best Town award,
3:14
Speaker 2: it still stays in people's mind and they think of
3:16
Speaker 2: it as a good area to move. I think that
3:18
Speaker 2: this one's a particularly good opportunity. We just lowered the price.
3:22
Speaker 2: Most of the future listings that we do every week
3:24
Speaker 2: have got accepted offers, and this one is available. So
3:27
Speaker 2: it just recently got lowered by ten thousand dollars down
3:30
Speaker 2: to three hundred and ninety. It's a good opportunity to
3:33
Speaker 2: put in some sweat equity, need some updates, but big yard.
3:36
Speaker 1: Over a quarter acre.
3:38
Speaker 2: Oh and you know, whenever you have four bedrooms and
3:41
Speaker 2: can be in Middleton, just a little bit of work
3:43
Speaker 2: can really increase the value of the house.
3:44
Speaker 1: And again he has mentioned it's under four hundred thousand.
3:47
Speaker 1: That's at sixty six nineteen Cooper AB in Middleton, at
3:51
Speaker 1: sixty six nineteen Cooper AB in Middleton. You can learn
3:53
Speaker 1: more online rock Wisconsin dot com. That's rock ro ock
3:57
Speaker 1: Wisconsin dot com. You can set up an appointment in
3:59
Speaker 1: a showing right from the website or call, of course
4:02
Speaker 1: the office right here in Madison sixto' eight sixty seven
4:05
Speaker 1: three fifty four hundred. That's six seven three fifty four hundred.
4:08
Speaker 1: One of the ways you might purchase this home is
4:10
Speaker 1: FHA loans. Yeah, let's talk about what the first off
4:14
Speaker 1: I think folks here FHA loan, but don't really know
4:17
Speaker 1: unless maybe they've had personal experience. What an FHA loan?
4:21
Speaker 1: What are they? What's kind of the history there? They've
4:23
Speaker 1: been around. They're not a new thing at all, are they? No? No,
4:26
Speaker 1: they aren't.
4:26
Speaker 2: You And looking back on this and kind of checking
4:28
Speaker 2: into some of the history here before today, you know,
4:31
Speaker 2: I did learn a few things and it kind of
4:33
Speaker 2: opened my eyes to you know, how the how housing
4:36
Speaker 2: was back when this was introduced and how it is today.
4:39
Speaker 2: But FAHA was created in nineteen thirty four. The housing
4:44
Speaker 2: industry was flat at that time, you know, obviously just
4:48
Speaker 2: after the Great Depression, and you know, two million construction
4:52
Speaker 2: workers had lost their jobs. And what really interested me
4:57
Speaker 2: about that time frame was a percentage of home home
5:00
Speaker 2: ownership as well as kind of how mortgages were structured
5:03
Speaker 2: prior to FHA. So before the government created the Federal
5:07
Speaker 2: Housing Administration, terms were a bit different, right, Mortgage terms
5:13
Speaker 2: in general usually.
5:14
Speaker 1: Required fifty percent down.
5:16
Speaker 2: Wow, how would everybody be freaking out these days if
5:19
Speaker 2: it required fifty percent down?
5:20
Speaker 1: Right? Yeah? Yeah, I can't imagine. On top on top
5:23
Speaker 1: of that.
5:24
Speaker 2: You know, it really was a balloon payment. And for
5:27
Speaker 2: people that don't know what a balloon payment was, back then,
5:30
Speaker 2: it you would have to make payments, but in three
5:34
Speaker 2: or five years you'd have to either refinance or pay
5:37
Speaker 2: off the full amount. So it's not a thirty year
5:39
Speaker 2: fix like we have today.
5:41
Speaker 1: You know what's interesting about this is we kind of
5:43
Speaker 1: look back and I know one of the interesting conversations
5:47
Speaker 1: if you get to you know, we get a chance
5:48
Speaker 1: to talk with younger folks and things it's about. There
5:50
Speaker 1: are questions about, you know, buying that first home and
5:53
Speaker 1: how do we get into the market and kind of that.
5:55
Speaker 1: On ramp we talk about different programs, whether it's FHA
5:58
Speaker 1: or USDA Rural or some other things that are out
6:01
Speaker 1: there for folks. Sometimes what worries me and troubles me
6:04
Speaker 1: is sometimes people like hear the headlines and they don't
6:07
Speaker 1: start that cont like it dissuades them from starting that
6:09
Speaker 1: conversation of buying home. There are some and we're going
6:12
Speaker 1: to get into a little bit more about what makes
6:14
Speaker 1: FAHA so special and unique. There are programs out there
6:18
Speaker 1: for folks that are looking to buy a home that
6:21
Speaker 1: you know, we're talking back in the day fifty percent down.
6:24
Speaker 1: Maybe they don't have the twenty percent down, or maybe
6:25
Speaker 1: they don't have that other amount there are, and some
6:28
Speaker 1: of these are really really good as far as as
6:31
Speaker 1: far as down payment requirements. Rates are amazingly competitive. People
6:37
Speaker 1: shouldn't be discouraged by what they hear on the news,
6:39
Speaker 1: should they from starting that conversation, because you don't know
6:41
Speaker 1: what you don't know until they start that conversation, right.
6:43
Speaker 2: No, Yeah, And it's all about perspective. You know, what
6:45
Speaker 2: I thought was interesting was back in nineteen thirty four
6:48
Speaker 2: when this was introduced, initially, only one in ten households
6:54
Speaker 2: on the home that weird ten percent, ten percent. So
6:57
Speaker 2: fast forward to last quarter and sixty six percent. Oh,
7:02
Speaker 2: is that it's gotten that high?
7:03
Speaker 1: That's great.
7:05
Speaker 2: You know when you when you give it a different
7:07
Speaker 2: perspective and you're ninety percent of the country was renting
7:10
Speaker 2: at the time, you know, that's that's quite a different
7:15
Speaker 2: brain twist to what we what we think. And you know,
7:17
Speaker 2: we've we've gotten so used to the low rates and
7:19
Speaker 2: the low down payment that sometimes it just takes a
7:21
Speaker 2: different perspective.
7:22
Speaker 1: That is interesting when you bring up that perspective too,
7:24
Speaker 1: because I think a lot of us have that that
7:26
Speaker 1: vision of well, back in the old days, everybody owned
7:28
Speaker 1: land and huge pieces of land and then the reality is, yeah,
7:32
Speaker 1: want only one in ten households owned owned homes, which
7:35
Speaker 1: is which is which is shocking. Let's kind of work
7:38
Speaker 1: our way as we kind of get to today and
7:41
Speaker 1: what FAHA does. What exactly their role is when it
7:44
Speaker 1: comes to folks buying homes. Yeah, and it's morphed over
7:48
Speaker 1: the years.
7:49
Speaker 2: You know, there's there was the introduction of Freddie Mack
7:53
Speaker 2: and Fannie May, who have backed a lot of the
7:55
Speaker 2: loans that we have right now, you know, backing things
7:59
Speaker 2: like a conventional twenty percent down loan. But the FAHA
8:02
Speaker 2: was introduced to get more you know, people that normally
8:06
Speaker 2: be renting, get them into home ownership.
8:07
Speaker 1: Right, and so some.
8:09
Speaker 2: Of the advantages of an FAHA loan are going to
8:12
Speaker 2: be that it does require a lower down payment. Right,
8:17
Speaker 2: you can get get away with just three and a
8:20
Speaker 2: half percent down.
8:20
Speaker 1: Oh wow, yeah, which is which is pretty amazing. The
8:23
Speaker 1: other thing too, it's kind of their role is I
8:27
Speaker 1: see a note that talks about how you know, actively
8:30
Speaker 1: ensures are they when it comes to working with an FHA,
8:33
Speaker 1: Are they actually issuing the loan or are they part
8:36
Speaker 1: of you mentioned Freddie and Fanny and those of things.
8:38
Speaker 1: Are they are they involved? Like what is their role there?
8:42
Speaker 1: Are they actually are you actually getting a loan? Is
8:44
Speaker 1: there like a bank of FAHA or is that just
8:46
Speaker 1: a set of guidelines that'd say this is insured or
8:49
Speaker 1: backed by FAHA. How does that work?
8:51
Speaker 2: FAHA is more more of a guideline. Right, it's something
8:54
Speaker 2: that the rules were set by by the government, if
8:58
Speaker 2: you will, right that you have to meet certain requirements.
9:02
Speaker 2: The majority of loans, unless they're just a local bank,
9:05
Speaker 2: let's say portfolio loan, which is what it's called, meaning
9:08
Speaker 2: they're taking their own money and they're investing in that mortgage,
9:12
Speaker 2: the majority of vast majority of loans are backed by
9:15
Speaker 2: either Fanny May or Freddie Mack or backed by these
9:18
Speaker 2: government dentities. And FHA is just like that. These particular
9:22
Speaker 2: loans allow for lower credit scores. They allow for a
9:26
Speaker 2: higher debt to income ratio. We can talk about what
9:28
Speaker 2: that means and a lower down payment. So you could
9:32
Speaker 2: technically have as you know, smaller a credit score as
9:34
Speaker 2: five hundred, but you know, in general you want to
9:37
Speaker 2: try to be above six forty for a credit score
9:39
Speaker 2: to get ideal terms. The debt to income ratio is
9:43
Speaker 2: a fifty seven percent or less, and ideally you want
9:47
Speaker 2: to be less than fifty percent, meaning how much of
9:50
Speaker 2: your income is the mortgage payment going to take up. So,
9:53
Speaker 2: if you know, my biggest recommendation to most people is
9:56
Speaker 2: try not to have too many loan car car loans
10:00
Speaker 2: and such. Right, So, if you have an eight hundred
10:02
Speaker 2: dollars a month car loan that you're paying, that's eight
10:06
Speaker 2: hundred dollars that could be instead applied to a thirty
10:10
Speaker 2: year mortgage, which is a huge difference in your purchasing power.
10:14
Speaker 1: Talking this morning with Matt Heyman of Rock Realty Online
10:17
Speaker 1: Rockwisconsin dot com, that's r O C K Wisconsin dot com,
10:21
Speaker 1: Dolphin number six so eight six seven three fifty four hundred.
10:24
Speaker 1: That's six seven three fifty four hundred. And you kind
10:26
Speaker 1: of look at the DTA the debt to debt to
10:28
Speaker 1: income ratio as one half you've got what's coming in,
10:31
Speaker 1: the other half, you've got your obligations and things that
10:33
Speaker 1: are going out. What's the ratio between those two And
10:36
Speaker 1: some some mortgages have have maybe i'd call them softer standards,
10:41
Speaker 1: some of their not softer, but more they want to
10:43
Speaker 1: see that, you know, very low debt. Higher income, some
10:47
Speaker 1: are a little more forgiving with that. And I mean
10:49
Speaker 1: you mentioned less than fifty seven percent. That seems to
10:51
Speaker 1: be a pretty forgiving number right there. That that that
10:55
Speaker 1: works very very very forgiving with that. What about when
10:59
Speaker 1: you buy a whole there are certain standards for that house,
11:01
Speaker 1: that kind of requirements that that are required that home.
11:04
Speaker 1: You can't just buy. And this this is important why
11:07
Speaker 1: you want to work with an agent that understands what
11:09
Speaker 1: type of mortgage and insurance you're looking at for this
11:13
Speaker 1: is there are certain requirements for these loans, aren't there.
11:16
Speaker 2: Yeah, So the government is concerned about safety, right and
11:21
Speaker 2: so if they're going to back an FHA loan, they
11:23
Speaker 2: have some certain requirements and and it depends on the
11:26
Speaker 2: condition of the home and whether or not an FHA
11:29
Speaker 2: loan will apply, if the home itself will will get
11:32
Speaker 2: approved for FHA. Some of those items would be smoking
11:35
Speaker 2: carbon dioxide detectors on each floor. They still have an
11:39
Speaker 2: issue with peeling paint and lead based paint just in
11:42
Speaker 2: case kids are eating paint chips off of off of
11:45
Speaker 2: the molding. But that's that's a factor. Roof and foundation
11:49
Speaker 2: issues much much bigger deal, I think, and mold as well.
11:53
Speaker 2: So these are things that when an appraiser comes out,
11:55
Speaker 2: they're going to take a look at it. FHA appraiser
11:58
Speaker 2: has a different report than.
11:59
Speaker 1: Other interesting too. You mentioned appeeling paint and that stuff.
12:02
Speaker 1: A couple of things I learned about lead paint. One
12:04
Speaker 1: apparently kids are drawn to it because it's sweet. Who
12:07
Speaker 1: would have known. The other thing is I always assume
12:10
Speaker 1: that lead paint would be in obviously it's in older homes,
12:13
Speaker 1: but a low end homes. It's actually the opposite. Lead
12:15
Speaker 1: was an expensive additive to made. The color is very vibrant,
12:21
Speaker 1: but it was something people always think, oh, well, that's
12:23
Speaker 1: you know, maybe an older, maybe a smaller home that
12:26
Speaker 1: had lead paint oftentimes at some of those higher ends.
12:29
Speaker 1: So really really good stuff. To understand the requirement, We're
12:32
Speaker 1: going to talk about some of the reasons why folks
12:33
Speaker 1: may choose an FHA loan. We'll also review this week's
12:37
Speaker 1: featured listing, a beautiful home in Middleton. We will do
12:39
Speaker 1: all of that next. In the meantime, I've been to
12:41
Speaker 1: the website yet. What you doing get on over there
12:43
Speaker 1: now Rockwisconsin dot com. That's roc K Wisconsin dot com.
12:47
Speaker 1: As we're talking with Matt this morning. If you are
12:49
Speaker 1: somebody maybe looking at that first time home and you've
12:52
Speaker 1: heard some maybe myths or some information out there, please
12:55
Speaker 1: make sure you're checking out. If you've been thinking about
12:58
Speaker 1: buying home, check out the market. Start that conversation. Don't
13:01
Speaker 1: let bad information deter you from doing that. If you're
13:04
Speaker 1: looking to buy a home, I gotta pick up phone,
13:06
Speaker 1: give him a call at Rockrealty six oh eight six
13:08
Speaker 1: seven three fifty four hundred. That's six seven three fifty
13:10
Speaker 1: four hundred. More of our conversation with Matt Heyman next
13:13
Speaker 1: as Ask the Experts with Rockrealty continues here on thirteen
13:16
Speaker 1: ten Double U IBA eight fifty two thirteen ten double
13:27
Speaker 1: U I B A and Ask the Experts with Rockrealty
13:29
Speaker 1: hanging out with Matt Heypman. Of course, Matt comes to
13:32
Speaker 1: us from Rockrealty the website Rock Wisconsin dot com. That's
13:35
Speaker 1: r O c K Wisconsin dot com. That's rock Wisconsin
13:39
Speaker 1: dot com. Sharing with that a little bit of my
13:40
Speaker 1: story when we bought our house. Timing is important with
13:43
Speaker 1: this stuff, and that's why it's so important to start
13:45
Speaker 1: that conversation. I don't know, maybe I sound like I
13:48
Speaker 1: want to make sure. This is a personal note is
13:50
Speaker 1: people that are that are if you are interested in
13:52
Speaker 1: home ownership, please start that conversation. It's a to me,
13:56
Speaker 1: It's something I think is important. You see all the
13:58
Speaker 1: great benefits of home owner ships, you know when it
14:01
Speaker 1: comes to credit and family and just it's just a
14:04
Speaker 1: great thing. So start that conversation. Gave McCall six so
14:07
Speaker 1: i'd six seven three fifty four hundred. That's six seven
14:10
Speaker 1: three fifty four hundred online Rock Wisconsin dot com and
14:13
Speaker 1: Matt we were talking about FHA mortgage and what then
14:16
Speaker 1: insurance protects. There is there is ah you mentioned lower
14:19
Speaker 1: down payment and some other the great the benefits of
14:23
Speaker 1: using an FHA and how they help folks get into homes.
14:27
Speaker 1: There is something that that mortgage insurance that is required
14:30
Speaker 1: with FHA. Let's talk about what that is and and
14:33
Speaker 1: UH and what role that plays in that in that
14:35
Speaker 1: mortgage payment.
14:36
Speaker 2: Yeah, there's other side of the coin. So if someone
14:40
Speaker 2: can get into a twenty percent down conventional loan that's
14:45
Speaker 2: going to have the least amount of costs, typically the
14:48
Speaker 2: better rates and a lower monthly down payment. Right, if
14:53
Speaker 2: you don't have that option, like many of us, don't
14:55
Speaker 2: have twenty percent down to put on a house. FAHA
14:57
Speaker 2: is a good option. However, with a lender whenever there's
15:02
Speaker 2: less than twenty percent down payment, there's something called mortgage
15:05
Speaker 2: insurance that's involved, right, and that means that the lender
15:11
Speaker 2: just needs to protect themselves just in case the house
15:15
Speaker 2: were to go to foreclosure or something and they have
15:17
Speaker 2: to try to recoup, so they try to get some
15:20
Speaker 2: coverage by having this insurance in place for that inventionality
15:25
Speaker 2: if it happens. So there's a mortgage insurance premium that's
15:29
Speaker 2: worked into the loan with FAHA and it's kind of
15:32
Speaker 2: added to the loan value. But then there's also a
15:35
Speaker 2: mortgage insurance on a monthly.
15:37
Speaker 1: Basis that's paid, which is.
15:39
Speaker 2: In two three four hundred dollars range that's added on top.
15:42
Speaker 2: So even though you're bringing in less, you may have
15:45
Speaker 2: a larger payment on a monthly basis if you don't
15:48
Speaker 2: go conventional.
15:49
Speaker 1: And folks can also refinance once they've got reached that
15:53
Speaker 1: threshold of those type of things as well. This is
15:56
Speaker 1: not something you're locked into forever. You can all correct.
15:58
Speaker 2: I believe last I checked was at seventy eight percent.
16:01
Speaker 2: Loan to value, so as the market increases, you can
16:04
Speaker 2: in the future and you start paying down your principle.
16:06
Speaker 2: In the future, you can refinance or I mean have
16:10
Speaker 2: a have it reappraised and reassessed by the mortgage company
16:14
Speaker 2: and they can drop that mortgage assurance don't once it
16:16
Speaker 2: drops below seventy eight percent loan to value.
16:18
Speaker 1: We talk about working with a with a good agent
16:21
Speaker 1: and these type of things. Is having somebody and I
16:24
Speaker 1: don't know if maybe finding somebody that may specialize in
16:28
Speaker 1: and I know at Rock Realty, how many agents do
16:30
Speaker 1: you guys have right around forty at the moment. That's
16:34
Speaker 1: four zero folks, zero, which means it is the perfect
16:37
Speaker 1: agent for everyone. And you know, if you're looking at
16:40
Speaker 1: something like an FHA or something like that, having it
16:42
Speaker 1: working with one of the forty agents that at Rock
16:45
Speaker 1: Realty that can help you and understand that there are,
16:48
Speaker 1: as we mentioned, certain guidelines and having somebody that can
16:50
Speaker 1: say these are houses that fit this guideline and the
16:53
Speaker 1: last thing one who was walking to a house and
16:54
Speaker 1: find out, oh we love this, love this so much.
16:57
Speaker 1: Oh wait, there's some kind of foundation issue.
16:59
Speaker 2: And with FJA you have to be careful because typically
17:01
Speaker 2: you know, let's say you're looking for a lower price
17:04
Speaker 2: point because your first time home buyer.
17:05
Speaker 1: Sometimes those are older homes, they might not qualify for
17:07
Speaker 1: a FHA.
17:08
Speaker 2: So if you have a good agent on your side,
17:10
Speaker 2: it helps.
17:11
Speaker 1: That's a really great thing. As we talked this morning
17:12
Speaker 1: with Matt Heyman again, TELF number six so eight six
17:14
Speaker 1: seven three fifty four hundred. That's six seven three fifty
17:17
Speaker 1: four hundred. The website Rock Wisconsin dot com. That's Rock
17:21
Speaker 1: roc k Wisconsin dot com. Speaking of great homes and
17:26
Speaker 1: great places to look, this week's featured listing beautiful home
17:29
Speaker 1: right on Cooper av In Middleton under four hundred thousand.
17:33
Speaker 1: It's a it's a great house and a little bit
17:36
Speaker 1: of a little bit of it's it's it looks great,
17:39
Speaker 1: as is the little data though could use. It's like
17:41
Speaker 1: one of those houses where you buy it, you put
17:44
Speaker 1: a little bit of you know, a couple of weekends
17:46
Speaker 1: into it, and bang, you've got yourself a palace. Like
17:49
Speaker 1: a little bit. It's very similar to my first house.
17:51
Speaker 1: I bought, yeah, lot of work into it and put
17:53
Speaker 1: some value. Do you guys get that a lot from
17:55
Speaker 1: folks that are saying, you know, what we want to
17:56
Speaker 1: buy that that house that's you know that maybe I
17:59
Speaker 1: think a lot of times you'll find like older folks
18:02
Speaker 1: that have lived in the house for years, maybe they
18:04
Speaker 1: didn't update things, but they treated it like so well,
18:07
Speaker 1: like all they always say, it's got good bones, it's
18:09
Speaker 1: got good candles. You find those people say I'm looking
18:11
Speaker 1: for that home out there because I want to.
18:13
Speaker 2: There are some, but I'm surprised at I think there's
18:16
Speaker 2: a lot of people missing opportunities right now.
18:17
Speaker 1: A lot of first time home buyers are looking for
18:19
Speaker 1: moving ready.
18:20
Speaker 2: If they were able to put in a little sweat equity,
18:23
Speaker 2: they make out in the long run good time.
18:26
Speaker 1: Well, you think about too, You mentioned that that sweat equity.
18:28
Speaker 1: What a what a huge return is as we look
18:30
Speaker 1: at you know, the markets and those type of things.
18:32
Speaker 1: You know, you buy, buy a house, great neighborhood, a
18:35
Speaker 1: house again with like really good bones. Do some do
18:37
Speaker 1: a little sweat equity, a little work on it. If
18:39
Speaker 1: you want to stay, stay, if you want to sell,
18:41
Speaker 1: you've suddenly just major Home Depot gives classes. Maybe it's
18:46
Speaker 1: true you guys give classes at Rock Realty as well.
18:49
Speaker 1: I know, yeah, yeah, we definitely have a different seminars
18:52
Speaker 1: that we put on. It's a great it's a great
18:54
Speaker 1: day to start that conversation again, whether you're looking to
18:56
Speaker 1: buy your first home, looking to move up, maybe the
18:59
Speaker 1: kiddos we're talking school year, Maybe the kiddos are off
19:01
Speaker 1: to college or just graduated college and they're off on
19:03
Speaker 1: their own. You're saying, you know what, maybe a nice
19:05
Speaker 1: condo somewhere, or maybe something a little simpler to kind
19:09
Speaker 1: of fit our lifestyle. It is a fantastic day to
19:11
Speaker 1: start that conversation. Don't hold back. Give him a call
19:14
Speaker 1: at Rockrealteam. Matt and the team love to talk with
19:15
Speaker 1: you again. Forty agents at Rockrealtytelphe number six oh eight
19:19
Speaker 1: six seven three fifty four hundred. That's six seven three
19:22
Speaker 1: fifty four hundred. Check out the website Rock Wisconsin dot com.
19:26
Speaker 1: That's Rock Rock Wisconsin dot com. Matt, it's always great
19:30
Speaker 1: chatting with you. You enjoy this fantastic day, you too,
19:33
Speaker 1: And again that website Rock Wisconsin dot com. R Ock
19:37
Speaker 1: Wisconsin dot com. Great data peruse. Even if you're not
19:39
Speaker 1: looking to buy house, it's always fun to do. And
19:41
Speaker 1: they're telephe number six O eight six seven three fifty
19:43
Speaker 1: four hundred. That's sixty seven three fifty four hundred Dan O'Donnell.
19:46
Speaker 1: He comes your way next right here on thirteen ten
19:49
Speaker 1: wib I