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Getting the Most for your home buying Dollar · Bought Borrowed and Sold

• 0:00
  Speaker 1: Well come to by Balt Bart and Soul. Thanks so
• 0:03
  Speaker 1: much for joining us. And uh yeah, man, hey, Brad
• 0:08
  Speaker 1: Smith hanging out with us in the studio from Cross
• 0:11
  Speaker 1: Country Mortgage. What's that, Brad?
• 0:13
  Speaker 2: That's me. I mean, I'm good. How are you?
• 0:15
  Speaker 1: I'm good. I'm I'm just dandy. I am just dandy.
• 0:21
  Speaker 2: Uh.
• 0:21
  Speaker 1: Been a busy world in the real estate market, the
• 0:24
  Speaker 1: mortgage market. We've been having some fun. Huh, We've been
• 0:27
  Speaker 1: having some fun. It's been a busy, busy, all kinds
• 0:30
  Speaker 1: of stuff going on. So yeah, the markets picked up.
• 0:33
  Speaker 2: I buy my phone and emails and and with rates
• 0:36
  Speaker 2: that we can kind of get into later in the
• 0:38
  Speaker 2: next segment. But I mean, it's it's been uh, it's
• 0:41
  Speaker 2: been popping good.
• 0:42
  Speaker 1: Well, I want to get some shout outs. Uh. We've
• 0:45
  Speaker 1: put let's see, six homes under contract over the past week.
• 0:48
  Speaker 1: Carla Diliberto with three of those under contract, killing it,
• 0:52
  Speaker 1: my goodness, John Michael Brannon, Graham Reesburg, and Isaac Marvin,
• 0:57
  Speaker 1: congratulations on your contracts as well. So one of those
• 1:04
  Speaker 1: was our flipping bluff part nice. So I'm pretty excited
• 1:08
  Speaker 1: about that. I'm about to deal with the inspection contingency
• 1:11
  Speaker 1: which I'm not necessarily concerned about because I've already said, hey,
• 1:15
  Speaker 1: look I did a prelisting inspection and disclosed that and
• 1:21
  Speaker 1: and oh, by the way, my contractor will be there
• 1:24
  Speaker 1: to work on whatever needs to be worked on, so
• 1:27
  Speaker 1: hopefully that will still be okay to these buyers. So
• 1:32
  Speaker 1: you know, it's one part just getting it under contract.
• 1:35
  Speaker 1: The next part's like, how do you get this sucker
• 1:37
  Speaker 1: to closing? How do you get you know, to the
• 1:39
  Speaker 1: finish line. And man, I'll tell you, we've we've been
• 1:44
  Speaker 1: losing a bunch of deals, just like random things, random
• 1:48
  Speaker 1: mortgage financing things. Random We had one where the HVAC
• 1:54
  Speaker 1: got stolen in Birmingham, oh this past week, and that
• 1:59
  Speaker 1: just scared the buyer off. We had where just you know,
• 2:05
  Speaker 1: sometimes like in during an inspection contingency, we'll get where
• 2:08
  Speaker 1: people just have like a change of heart and they'll
• 2:11
  Speaker 1: they'll get the inspection and really the inspection is not
• 2:13
  Speaker 1: that bad, but they're just like, we might just want
• 2:17
  Speaker 1: something else.
• 2:18
  Speaker 2: They had some buyers remorse before the inspection and kind
• 2:20
  Speaker 2: of use the inspection sometimes.
• 2:22
  Speaker 1: I think it's definitely possible, Yeah, for sure.
• 2:24
  Speaker 2: Yeah, kind of get into it, kind of get get
• 2:26
  Speaker 2: wrapped up in it, get in the contract, and then
• 2:28
  Speaker 2: they're kind of like sitting at home and going like,
• 2:30
  Speaker 2: is this really the one to do?
• 2:32
  Speaker 1: That's why, like I don't like you know, going under
• 2:34
  Speaker 1: contract day one on a on a listing, right, just
• 2:37
  Speaker 1: mainly because of buyer remorse.
• 2:39
  Speaker 2: Yeah, So AnyWho who All right, all the fun stuff,
• 2:46
  Speaker 2: all the fun things.
• 2:47
  Speaker 1: Well, we're gonna we're going to talk about in our
• 2:48
  Speaker 1: next segment. We're going to talk about what we're seeing
• 2:51
  Speaker 1: in the market, what we're seeing with rates. And it
• 2:54
  Speaker 1: sounds like we've were getting some positive news and uh,
• 2:58
  Speaker 1: but you know, I think it's now is the time
• 3:00
  Speaker 1: that we go ahead and do the mortgage game.
• 3:03
  Speaker 2: Let's do it, all right.
• 3:05
  Speaker 1: We have we've got some we've got some open houses today,
• 3:07
  Speaker 1: we've got some new listings. And Brad tell us the rules.
• 3:10
  Speaker 2: Yeah, the rules of the game. Gussy's gonna give us
• 3:13
  Speaker 2: some properties they've got either open houses, new listings coming soons.
• 3:17
  Speaker 2: He's gonna give us the details of those properties and
• 3:19
  Speaker 2: at the end, he's gonna give us what the list
• 3:20
  Speaker 2: price is for that property. At that time, I will
• 3:24
  Speaker 2: give a potential down payment that a bar may make
• 3:26
  Speaker 2: on that house and John Mounts and Gusty will guess
• 3:29
  Speaker 2: their best at the thirty year fixed monthly payment principal
• 3:32
  Speaker 2: interest only.
• 3:33
  Speaker 3: And it really is my best. I know, it doesn't
• 3:35
  Speaker 3: seem like it and the best I can do?
• 3:37
  Speaker 1: Can John get two weeks in a row?
• 3:40
  Speaker 2: Oh?
• 3:40
  Speaker 1: I forgot?
• 3:40
  Speaker 4: Did I win last week?
• 3:41
  Speaker 2: Did a in a with a three man race?
• 3:44
  Speaker 1: Now?
• 3:44
  Speaker 2: John Michael is here, So you took down two real tris.
• 3:47
  Speaker 4: That's not gonna happen again.
• 3:49
  Speaker 1: Well. Our first new listing of the week is in
• 3:53
  Speaker 1: the Birmingham Minor area. This is thirty fifty six Highland Drive.
• 3:59
  Speaker 1: This one is a three bedroom, one and a half
• 4:01
  Speaker 1: bath home with eleven hundred and ten square feet. We're
• 4:03
  Speaker 1: asking ninety seven thousand, five hundred ninety seven thousand, five hundred,
• 4:08
  Speaker 1: so this could be a perfect first house, could be
• 4:10
  Speaker 1: a great investment. It's all single level, so it could
• 4:13
  Speaker 1: be a great last house. Uh, thirty fifty six Higland Drive,
• 4:17
  Speaker 1: ninety seven five. And this listing is courtesy of John
• 4:19
  Speaker 1: Michael Brandon. So, John Michael, congratulations on your new listing.
• 4:24
  Speaker 2: Yeah, great job. All right, ninety seven five. We're gonna
• 4:26
  Speaker 2: say this first time home by We're gonna put three
• 4:28
  Speaker 2: percent down. Okay, we're gonna put three percent down on
• 4:30
  Speaker 2: ninety seven five. Gusty, you get the honors.
• 4:39
  Speaker 1: Okay, ninety seven five. Let's go with. Let's go with
• 4:49
  Speaker 1: six hundred and nine dollars.
• 4:55
  Speaker 2: I like it.
• 4:57
  Speaker 3: I was actually thinking six sixty. I don't know what
• 5:01
  Speaker 3: that face means. Is that what you're saying, I'm gonna
• 5:04
  Speaker 3: go with six sixty.
• 5:05
  Speaker 2: He's gonna go with six sixty. But the actual payment
• 5:07
  Speaker 2: was five seventy five.
• 5:09
  Speaker 1: Whoa to seventy? I like these rates. Coming on down, baby,
• 5:16
  Speaker 1: coming on down?
• 5:18
  Speaker 2: All right.
• 5:18
  Speaker 1: Our next new listing of the week is in Jamison. Hey,
• 5:21
  Speaker 1: and just so y'all know, we cover really pretty much
• 5:24
  Speaker 1: a forty five mile radius of downtown Birmingham, so brillly
• 5:28
  Speaker 1: as north of you know, as Coleman, as south as Clinton,
• 5:33
  Speaker 1: as east as pel City. We've even done some stuff
• 5:36
  Speaker 1: in Lincoln and as west as like mccollin, and really
• 5:40
  Speaker 1: Vance is probably pushing it, yeah on the west side. So,
• 5:44
  Speaker 1: but this one is in Jemison to seventy Ridgeview Circle.
• 5:48
  Speaker 1: This is in the Ridge subdivision built in twenty twenty two.
• 5:52
  Speaker 1: It's four bedrooms, two baths with a two car garage
• 5:55
  Speaker 1: eighteen hundred and seventy nine square feet and they are
• 5:58
  Speaker 1: asking two hundred and forty thousand, two hundred and forty thousand.
• 6:01
  Speaker 1: And this listening is courtesy of Walker Gant. Go see
• 6:05
  Speaker 1: Walker this afternoon from.
• 6:06
  Speaker 2: Two to four, two to four, and it's to forty
• 6:11
  Speaker 2: ten percent down. John ten percent down on two forty.
• 6:16
  Speaker 3: Ten percent down says twenty four thousand dollars. Get doing
• 6:19
  Speaker 3: the math in my head here. Uh, I'm gonna say
• 6:22
  Speaker 3: twelve hundred dollars.
• 6:30
  Speaker 1: Mmm, I'm gonna go with. Uh, I'm gonna go with
• 6:40
  Speaker 1: eleven hundred and sixty seven dollars.
• 6:46
  Speaker 2: They're low, but they're not that low. Payments thirteen twelve.
• 6:50
  Speaker 3: John gets around, Man, I I miscalculated with the with
• 6:58
  Speaker 3: the down payment.
• 6:59
  Speaker 4: That's what throw off that. And I don't know what
• 7:01
  Speaker 4: I'm doing.
• 7:01
  Speaker 2: Oh yeah, that tends to do you have something to
• 7:04
  Speaker 2: do with it?
• 7:04
  Speaker 1: It happens. Do any of us really just trying.
• 7:07
  Speaker 2: To figure it out exactly. We're all in this together.
• 7:10
  Speaker 1: All right. Next new listing is and also open this
• 7:14
  Speaker 1: afternoon from two to four in Homewood, sixteen oh four
• 7:18
  Speaker 1: forest Ridge Roads, sixteen oh four forest Ridge Road. This
• 7:22
  Speaker 1: one is three bedrooms, two baths, two car garage. It's
• 7:26
  Speaker 1: got fifteen hundred and thirty five square feet on the
• 7:28
  Speaker 1: main another three hundred and twenty six square feet finished
• 7:32
  Speaker 1: with a bonus room and the basement. Hey, this one's
• 7:35
  Speaker 1: got a pool, dude, cannon Ball, Uh, sixteen oh four
• 7:40
  Speaker 1: forest Ridge Road. Go see TJ. Cunningham this afternoon from
• 7:45
  Speaker 1: two to four. Four hundred and thirty five thousand dollars
• 7:49
  Speaker 1: four thirty five. How about that? I mean a home
• 7:52
  Speaker 1: and homewood with a pool for four hundred and thirty
• 7:56
  Speaker 1: five thousand bucks.
• 7:57
  Speaker 4: Can I visit after they've moved in?
• 7:59
  Speaker 2: Maybe?
• 7:59
  Speaker 4: Use that?
• 7:59
  Speaker 1: Probably not unless unless she brings some friends to that
• 8:04
  Speaker 1: buy that place, I bring snacks. Yeah, yep, yep, yep.
• 8:09
  Speaker 2: Well that's a great that's a great price in a
• 8:11
  Speaker 2: great area. All right, four thirty five, five percent down,
• 8:16
  Speaker 2: five percent down. We're back to gusty. It's the last
• 8:20
  Speaker 2: one of the day. So this is for all the marbles.
• 8:22
  Speaker 1: All the marbles, all the marbles.
• 8:24
  Speaker 4: Wait, we've been we should have been getting marbles all along.
• 8:27
  Speaker 2: No, I maybe I've lost my marbles.
• 8:31
  Speaker 1: Well speak for yourself now, okay, Uh, did you say
• 8:35
  Speaker 1: five percent or ten percent.
• 8:36
  Speaker 2: Now, mister Marble's over there. Five.
• 8:39
  Speaker 1: Okay, what do I want to do with this? Twenty
• 8:48
  Speaker 1: four hundred bucks?
• 8:52
  Speaker 4: Okay?
• 8:53
  Speaker 3: I was gonna say twenty seven, but I might be off. Okay,
• 8:58
  Speaker 3: I'll go twenty. I'll go twenty six.
• 9:02
  Speaker 2: Those fine adjustments that make John what he is. The
• 9:08
  Speaker 2: actual payment was two thousand, five hundred and eleven dollars.
• 9:11
  Speaker 4: John, John.
• 9:14
  Speaker 2: Today, two weeks in a row.
• 9:18
  Speaker 4: I'm retired. Retiring. Wow, that's it. We're good. I'm going
• 9:22
  Speaker 4: out on top.
• 9:23
  Speaker 2: It has happened before. I was going back to Major
• 9:29
  Speaker 2: League like next week, you do it. It's called a
• 9:31
  Speaker 2: winning streak. Wow, that's happened before.
• 9:34
  Speaker 1: I would say two weeks in rows of winning.
• 9:36
  Speaker 2: It is a winning streak in.
• 9:39
  Speaker 1: Good Well, congratulations John, thank you doing a great job.
• 9:42
  Speaker 4: Now I heard mention of marbles.
• 9:44
  Speaker 2: Yep, marbles there, they'll be delivered.
• 9:46
  Speaker 1: We're going to get cross Country Mortgage branded marbles.
• 9:49
  Speaker 2: I gave him to j T.
• 9:53
  Speaker 4: And he propably lost all of them.
• 9:56
  Speaker 1: Hey, we've got we've got some other open houses this afternoon.
• 10:00
  Speaker 1: We've got five to one three fifty ninth Street and Cresswood,
• 10:04
  Speaker 1: a three bedroom, two bath with fourteen hundred and sixty
• 10:07
  Speaker 1: square feet, updated for two eighty nine. It's going to
• 10:10
  Speaker 1: be open this afternoon from two to four. Go see
• 10:12
  Speaker 1: Ashley Stags. And then in Bluff Park fourteen twenty four
• 10:16
  Speaker 1: Chester Street. This was built in nineteen fifty seven. Two bedrooms,
• 10:19
  Speaker 1: two baths, seventeen hundred and twenty three square feet for
• 10:22
  Speaker 1: three seventy five. This one was the the industrial chic.
• 10:27
  Speaker 2: Oh yeah, I meant to look that one up. I'm
• 10:29
  Speaker 2: interested in that one.
• 10:30
  Speaker 1: Yeah, Bluff Park, go see Kyle Bedgood And hey, we've
• 10:35
  Speaker 1: got also we've got one that's coming up in the
• 10:38
  Speaker 1: Center Point area. This one is actually on almost five acres,
• 10:42
  Speaker 1: which is pretty cool. Uh, three bedrooms, one bath, fourteen
• 10:45
  Speaker 1: and ten square feet for one nine off of poly
• 10:48
  Speaker 1: Reid Road. I mean it's kind of hard to find
• 10:50
  Speaker 1: five acres these days, so that's pretty cool. Hey, we
• 10:56
  Speaker 1: got some buyer needs. So we've got somebody that's looking
• 10:59
  Speaker 1: for a home in the Bluff Park area that is
• 11:02
  Speaker 1: needing some love, need some renovations, and up to four
• 11:06
  Speaker 1: hundred and twenty five thousand. If it's on the Bluff great,
• 11:10
  Speaker 1: If not, no big deal. They just like the Bluff
• 11:13
  Speaker 1: Park area. I've also got somebody looking for a single
• 11:17
  Speaker 1: story home in the Shelby County area with a pool
• 11:22
  Speaker 1: up to four hundred and fifty thousand dollars. I've got
• 11:26
  Speaker 1: some folks that are moving into town looking in the
• 11:30
  Speaker 1: Hoover area. They are looking up to seven hundred thousand.
• 11:35
  Speaker 1: I've got some folks that are looking in the Edgewood
• 11:38
  Speaker 1: of Homewood School district and they are looking up to
• 11:42
  Speaker 1: I've got multiple folks looking and I've got some folks
• 11:44
  Speaker 1: that are looking up to a million. I've got some
• 11:46
  Speaker 1: folks looking up to one point five million, and I've
• 11:48
  Speaker 1: got some folks looking up to one point seven five
• 11:51
  Speaker 1: million dollars in Edgewood school districts. So, if you've got
• 11:55
  Speaker 1: any homes that match one of those one of those
• 12:00
  Speaker 1: buyers needs, feel free to go to gustygilsgroup dot com
• 12:04
  Speaker 1: or go call or text two five five four to
• 12:09
  Speaker 1: nineteen ninety six. Hey, guess what time it is. That's right,
• 12:15
  Speaker 1: it's testimonial time. Well, we've got one review this week,
• 12:21
  Speaker 1: and sometimes you get to patch your own self on
• 12:23
  Speaker 1: the back, and so this is from Annie. Gusty was
• 12:29
  Speaker 1: fantastic to work with and very available when we had
• 12:32
  Speaker 1: questions as first time home buyers. It was great to
• 12:35
  Speaker 1: have someone so knowledgeable and helpful to walk us through
• 12:39
  Speaker 1: the whole process from touring homes to closing day. Would
• 12:43
  Speaker 1: recommend Gusty to anyone in the Birmingham area. So Annie,
• 12:48
  Speaker 1: thank you so much for the opportunity. Congratulations on your
• 12:51
  Speaker 1: new home.
• 12:51
  Speaker 2: And Gusty, Congratulations on another five star review. I broke
• 12:58
  Speaker 2: my I got a litt lot the cadence was off,
• 13:01
  Speaker 2: but I think I got it in.
• 13:02
  Speaker 1: How about how about we do this Congratulations on another
• 13:06
  Speaker 1: five star review.
• 13:08
  Speaker 2: You just went in on another and I didn't try
• 13:11
  Speaker 2: to throw Gusty in that. I just got it all.
• 13:15
  Speaker 2: I felt it all.
• 13:17
  Speaker 1: See, I gotta queue it up.
• 13:18
  Speaker 2: Dad got multitasking things, you know, man.
• 13:20
  Speaker 1: You know what. I appreciate you trying. But it's nice
• 13:23
  Speaker 1: to get it's nice to get reviews. I'm not gonna lie.
• 13:26
  Speaker 1: It is all right. Well, y'all stay tuned. We're gonna
• 13:29
  Speaker 1: go to break. We're gonna talk about what we're seeing
• 13:32
  Speaker 1: with the mortgage world going. I like it. I like
• 13:36
  Speaker 1: what I'm hearing and what we're seeing in the real
• 13:38
  Speaker 1: estate world right here on Bard and Sold. Welcome back
• 13:44
  Speaker 1: to Bob bart and sold. And I'll tell you what,
• 13:47
  Speaker 1: and it has been a great week for mortgage rates.
• 13:52
  Speaker 1: Making progress. I mean, you know, unfortunately, bad news and
• 13:57
  Speaker 1: and kind of the jobs world and the economy is
• 14:00
  Speaker 1: usually good news for interest rates. But those of you
• 14:03
  Speaker 1: that can take advantage of you know, the interst rates,
• 14:07
  Speaker 1: my goodness, we're making progress. Let's talk about that. Yeah,
• 14:09
  Speaker 1: we see in Brad Brad Smith Cross Country Mortgage by.
• 14:13
  Speaker 2: The way, Brad Smith Loans dot com. Oh yeah, the
• 14:16
  Speaker 2: little plug there. Yeah. So rates have kept coming down.
• 14:20
  Speaker 2: There's actually been a little bit of a tug of
• 14:21
  Speaker 2: war this week just because the inflation data was a
• 14:25
  Speaker 2: little higher than expected. The jobs report right now is
• 14:30
  Speaker 2: still winning the day as far as the kind of
• 14:32
  Speaker 2: that tugle war. But rates are still I would still
• 14:35
  Speaker 2: say there. We're still in the low sixes. They've continued
• 14:38
  Speaker 2: to come down. We've actually had some good movement in
• 14:40
  Speaker 2: the bond market for those purposes. The tenure treasure that
• 14:45
  Speaker 2: we've talked about is continue to come down. It even
• 14:47
  Speaker 2: got below four for a little bit this week. I'm
• 14:49
  Speaker 2: not sure if it's gonna sustain there, but it was
• 14:52
  Speaker 2: at three ninety nine on Thursday when I saw it
• 14:55
  Speaker 2: and then it kind of jumped back up into the
• 14:57
  Speaker 2: low fours for a one to four O two. Yeah,
• 14:59
  Speaker 2: so it's been move around a little bit. But just
• 15:01
  Speaker 2: just to kind of give you an update as far as.
• 15:05
  Speaker 1: Like, I just wanted to say, hey.
• 15:07
  Speaker 2: Yeah, test those levels. You know, we talk about my
• 15:09
  Speaker 2: favorite word, Febonacci levels, and you know, and then you know,
• 15:13
  Speaker 2: and then the fifty day, the twenty five day, fifty day,
• 15:15
  Speaker 2: one hundred day, twenty day moving averages are also ceilings
• 15:18
  Speaker 2: and floors that get in there. So it'll go down
• 15:20
  Speaker 2: there and test and see how the market reacts. The
• 15:24
  Speaker 2: one thing I know, and it's so hard, it's so
• 15:27
  Speaker 2: hard to like also like make it make any kind
• 15:29
  Speaker 2: of sense through radio. It's easier with slides and numbers
• 15:31
  Speaker 2: because you know, you're sitting there spout all stuff and
• 15:33
  Speaker 2: it's like how do you retain it? But with that
• 15:37
  Speaker 2: being said, the one thing I did want to kind
• 15:38
  Speaker 2: of drill down what's keeping us from being even lower
• 15:42
  Speaker 2: than we are. So again, it's all been positive so far.
• 15:44
  Speaker 2: The only little bit of negatives that inflation data. And
• 15:48
  Speaker 2: that inflation data is something we talked about probably about
• 15:50
  Speaker 2: a month ago on some of the on the CPI
• 15:55
  Speaker 2: and the Consumer Price indecks, how how oddly weighted some
• 15:59
  Speaker 2: of the onions are for the actual hard numbers, and
• 16:03
  Speaker 2: so one of the things that's really throwing the inflation
• 16:05
  Speaker 2: at a whack is still the shelter cost and the
• 16:08
  Speaker 2: shelter cost. So shelter cost makes up right at forty
• 16:13
  Speaker 2: five percent of all the CPI data of the core data,
• 16:17
  Speaker 2: So that's shelter.
• 16:18
  Speaker 1: Home sold and for rent.
• 16:20
  Speaker 2: Right So apartment this is how much people are paying
• 16:23
  Speaker 2: on a mortgage and all their expenses for that. This
• 16:26
  Speaker 2: is for people paying rent. This is for lodging away
• 16:30
  Speaker 2: from home. So if you're getting a hotel and you're traveling,
• 16:32
  Speaker 2: that that goes into this hotel cost. So of all
• 16:34
  Speaker 2: those numbers for shelter thirty three percent of it is
• 16:40
  Speaker 2: the owner expected rent number.
• 16:44
  Speaker 1: Okay, so but not the market value.
• 16:46
  Speaker 2: But not the market value. It is literally quizzing homeowners,
• 16:51
  Speaker 2: what do you think you could rent your house for
• 16:53
  Speaker 2: if you decide to.
• 16:54
  Speaker 1: Rent it, Well, I'd like to rent it for a
• 16:55
  Speaker 1: million dollars.
• 16:56
  Speaker 2: Okay, so exactly, So of that shelter cost, thirty three
• 17:02
  Speaker 2: percent of it. A third of that shelter cost that's
• 17:05
  Speaker 2: Jack and ethon are the inflation numbers, and the core
• 17:07
  Speaker 2: reading is what people think they might could be able
• 17:11
  Speaker 2: to rent their home if they exited their home.
• 17:13
  Speaker 1: Well, that's that's a subjective.
• 17:15
  Speaker 2: It's so subjective. Here's the crazy thing, actual rents that
• 17:20
  Speaker 2: they're getting from landlords and can document, yes, ten percent of.
• 17:24
  Speaker 1: The number, it should be backwards, just.
• 17:27
  Speaker 2: Flip them like, we get it. You need to have
• 17:30
  Speaker 2: a little bit there on what rents would do and stuff.
• 17:32
  Speaker 2: But we're in this and then they're doing it month
• 17:35
  Speaker 2: over month. They're getting month over month readings. Could you
• 17:37
  Speaker 2: tell me how much you could rent your house for
• 17:39
  Speaker 2: month over month? And we're in this business like and
• 17:41
  Speaker 2: tell me what exactly what you think you could rent
• 17:43
  Speaker 2: it for and then we'll be able to keep up
• 17:45
  Speaker 2: and track that.
• 17:45
  Speaker 1: I can tell you that we marketed a rental house
• 17:49
  Speaker 1: that I had recently in the City of Birmingham, Section eight,
• 17:54
  Speaker 1: and we market it for one thousand and ninety and
• 17:58
  Speaker 1: we've got it rented for eight hundred and eighty bucks.
• 18:00
  Speaker 2: There you go, and we do this. All point is
• 18:03
  Speaker 2: I couldn't I mean, I could give you a ballpark
• 18:05
  Speaker 2: and be probably pretty close on my house but think
• 18:08
  Speaker 2: about everybody in the country that's on this survey. So
• 18:11
  Speaker 2: the whole point is that that weighted factor there, like,
• 18:15
  Speaker 2: let's use the real hard data and let's make it
• 18:17
  Speaker 2: thirty three percent of the number, and let's take this
• 18:20
  Speaker 2: opinion and kind of you know, I mean plus when
• 18:22
  Speaker 2: you list houses and you ask people how much you
• 18:24
  Speaker 2: can sell your house for, they always think they're I
• 18:27
  Speaker 2: mean not always, but they think their house is worth
• 18:28
  Speaker 2: more than it is.
• 18:30
  Speaker 4: They're gonna do the.
• 18:30
  Speaker 2: Same thing with the rents totally, and so flip those
• 18:33
  Speaker 2: numbers and all of a sudden, the inflation data looks
• 18:36
  Speaker 2: about where it should be, and so you've got to
• 18:38
  Speaker 2: drill that stuff down. But that's the kind of stuff that,
• 18:40
  Speaker 2: like the new BLS director's going to have to fix
• 18:42
  Speaker 2: also in the Bureau labor statistics and stuff like the
• 18:44
  Speaker 2: same one that's kind of fixed some of this employment
• 18:46
  Speaker 2: data that's helped us. We're going to have to do it.
• 18:48
  Speaker 2: I mean again, we're not saying to do away with it,
• 18:51
  Speaker 2: but those factors should be flipped. There's no way. And
• 18:53
  Speaker 2: it's the same thing with employment thing. It's that birth
• 18:55
  Speaker 2: death model again, where it's just a made up number
• 18:57
  Speaker 2: of how many businesses should have gone out of business then,
• 19:00
  Speaker 2: I mean it should have been replaced.
• 19:01
  Speaker 1: By that stuff is wild man, Like they're going to
• 19:03
  Speaker 1: have to like they're gonna have to get so figure out.
• 19:06
  Speaker 2: I mean so so again, it's literally again you can
• 19:10
  Speaker 2: if you can skew numbers in your factors that much,
• 19:13
  Speaker 2: you can literally make it say whatever you want to say.
• 19:16
  Speaker 2: And we know that that happens, and numbers are always
• 19:18
  Speaker 2: manipulated some somewhat, but for it to be that large
• 19:21
  Speaker 2: of a number and to really dictate like how our
• 19:24
  Speaker 2: economy is going to react, Uh, it makes it difficult
• 19:28
  Speaker 2: to guess on what's going to happen. But the only
• 19:31
  Speaker 2: I know we're gonna get a little short time and
• 19:32
  Speaker 2: so I'll get it back to you. The only thing
• 19:34
  Speaker 2: I will tell people to be a little cautious of
• 19:38
  Speaker 2: next week. Yeah, well we might see there's been it's
• 19:42
  Speaker 2: not expected, but there's like a ten percent chance they
• 19:46
  Speaker 2: do a fifty bp cut. I do think our rates
• 19:49
  Speaker 2: are reflecting some reaction to that. It could be a
• 19:52
  Speaker 2: fifty percent cut really not a lot, but I'm saying
• 19:56
  Speaker 2: that the reason I think it's holding strong as far
• 19:58
  Speaker 2: as over this inflame data is the perception that fifty
• 20:02
  Speaker 2: could happen. I could easily see us to get the
• 20:05
  Speaker 2: twenty five we've been wanting for and mortgage rates tick
• 20:08
  Speaker 2: up a little, not even a full eighth, but I
• 20:11
  Speaker 2: could easily see it just kind of pulling back down
• 20:14
  Speaker 2: a little bit, or pulling the rates up a little bit,
• 20:16
  Speaker 2: and then I think we'll get some more data out
• 20:18
  Speaker 2: of that that could over influence that and still be
• 20:20
  Speaker 2: where we're trending and trying to get into those high fives,
• 20:23
  Speaker 2: mid fives by the end of the year. But but
• 20:25
  Speaker 2: just be cautious of you know, we had an alert
• 20:28
  Speaker 2: to lock this past week, and I immediately went to
• 20:31
  Speaker 2: Facebook and said, if you were a mortgager's nature, you've
• 20:33
  Speaker 2: probably got an alert to lock. Ignore that, don't don't this.
• 20:38
  Speaker 2: This is a silly thing. It's gonna it's gonna come
• 20:40
  Speaker 2: right back. And sure enough, it's one of the few
• 20:42
  Speaker 2: times I've been right, and it went thirty points back
• 20:44
  Speaker 2: in the good. It was like, this is not a
• 20:46
  Speaker 2: time to lock on what. I don't know why they
• 20:47
  Speaker 2: sent that out that I can see enough to tell
• 20:49
  Speaker 2: that's that's silly. So anyways, but but it's all good.
• 20:53
  Speaker 2: I mean I think I think it's all gonna work out,
• 20:55
  Speaker 2: but just just a little bit cautious there.
• 20:57
  Speaker 1: Sorry, Well, no, no, I think that what's going to
• 20:59
  Speaker 1: be interesting is, you know, the projections are rates are
• 21:02
  Speaker 1: going to get into the fives as of right now.
• 21:05
  Speaker 1: And what that's going to do is that is going
• 21:07
  Speaker 1: to get more people into the market. Now, what we
• 21:11
  Speaker 1: have seen, I was talking to our team this past week.
• 21:15
  Speaker 1: We've seen basically on average, a twelve percent increase in inventory,
• 21:19
  Speaker 1: and we've seen where we're down and at least in
• 21:25
  Speaker 1: August we were down ten percent and home sold as
• 21:29
  Speaker 1: compared to this time last year.
• 21:30
  Speaker 2: Yeah.
• 21:30
  Speaker 1: Interesting. Now year to date we're about the same. Now,
• 21:35
  Speaker 1: what's interesting about our team is we're up ten percent
• 21:37
  Speaker 1: this year both on units and volume. So we're trending
• 21:41
  Speaker 1: better than the market by a minimum of ten percent, yes,
• 21:43
  Speaker 1: which is great. So I do believe that these rates
• 21:47
  Speaker 1: are going to get people off the fence. They're going
• 21:50
  Speaker 1: to get people back in the swing of things, and
• 21:54
  Speaker 1: we're seeing homes sit on the market a little bit longer.
• 21:57
  Speaker 1: We're seeing more price changes, and I think if I'm
• 22:01
  Speaker 1: sitting here and I can tell you, I mean, like
• 22:02
  Speaker 1: I flipped a couple of houses, put a couple of
• 22:05
  Speaker 1: houses on the market. I have been very aggressive in
• 22:09
  Speaker 1: my pricing of my homes that I've been flipping, and
• 22:11
  Speaker 1: I think you have got to be aggressive in pricing
• 22:15
  Speaker 1: your homes based on your condition. If you have tip
• 22:18
  Speaker 1: top condition, I think you can get tip top pricing.
• 22:22
  Speaker 1: But I would still try to be a hair under
• 22:24
  Speaker 1: the market. Great, but if not, yeah, I would not
• 22:29
  Speaker 1: bet on having multiple offers right now. If you can
• 22:33
  Speaker 1: get multiple offers, that is fan fantastic, but I would
• 22:37
  Speaker 1: not plan on having multiple.
• 22:40
  Speaker 2: Let the market dictate it be right under.
• 22:42
  Speaker 1: And the market is dictating things right now. We're seeing
• 22:45
  Speaker 1: price changes galore. People are trying to chase the market,
• 22:51
  Speaker 1: and I think, ultimately I've had to learn this too.
• 22:54
  Speaker 1: And like I had an appraisal on a property that
• 22:56
  Speaker 1: came in a lot higher than I expected, but I
• 22:59
  Speaker 1: ended up selling a property for where I thought it
• 23:02
  Speaker 1: was going to sell for, right, But I just change
• 23:05
  Speaker 1: the price very quickly to make sure I was going
• 23:09
  Speaker 1: to hit that market.
• 23:10
  Speaker 2: Yep, no doubt.
• 23:11
  Speaker 1: So I didn't want to get caught in chasing whatever.
• 23:14
  Speaker 1: So manyways, ultimately, like if you've been thinking about buying
• 23:19
  Speaker 1: or selling a house, I think reach out to our
• 23:22
  Speaker 1: team gustigoulisgrip dot com, Google Gustygoulists, Gustygoulist Group. We would
• 23:28
  Speaker 1: love to sit down with you, build a plan of action,
• 23:31
  Speaker 1: figure out is right now a good time to buy
• 23:34
  Speaker 1: or sell for you? Or are we planning for three
• 23:37
  Speaker 1: six months down the road and in twenty twenty six
• 23:40
  Speaker 1: we take action? Right And that's where I really want
• 23:43
  Speaker 1: to sit. It really depends on your scenario, for sure,
• 23:47
  Speaker 1: and that's why you reach out to your friends at
• 23:50
  Speaker 1: the Gustygolis griupt for sure. And then if you want
• 23:52
  Speaker 1: to get pre qualified, goo to Bradsmith Loans dot com
• 23:54
  Speaker 1: with a cross country mortgage.
• 23:55
  Speaker 2: Yeah, that's the way to do it. We'll get them
• 23:57
  Speaker 2: back to you.
• 23:58
  Speaker 1: All right. Thank y'all so much for joining us. We'll
• 24:00
  Speaker 1: catch you next time.
• 24:01
  Speaker 3: He is