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Transcript

Fall is Here! · Bought Borrowed and Sold

• 0:00
  Speaker 1: Welcome to Bob Barton Sold. Thank you so much for
• 0:04
  Speaker 1: joining us this morning. Man, we got a baseball tournament today, Brad.
• 0:11
  Speaker 1: Heading up to Coleman, Alabama.
• 0:13
  Speaker 2: Well, it officially can be fall ball.
• 0:16
  Speaker 1: This is fall travel ball. So my son, I think
• 0:20
  Speaker 1: a few weeks ago I told you my son, I guess,
• 0:23
  Speaker 1: made one of the team, the Birmingham Giants, which is
• 0:25
  Speaker 1: a travel ball team. that's been around for, I guess,
• 0:28
  Speaker 1: almost 20 years. And they've, they've a lot of their
• 0:32
  Speaker 1: past members have gone on to get like college baseball
• 0:35
  Speaker 1: scholarships and all kinds of stuff. And so trip my oldest,
• 0:38
  Speaker 1: he's 10 years old. He's excited about, you know, making
• 0:41
  Speaker 1: the team. And so, yeah, we'll be in Coleman all day. Yeah.
• 0:45
  Speaker 1: Doing a little baseball action.
• 0:47
  Speaker 2: I'll be doing some baseball in Georgia this afternoon. So
• 0:49
  Speaker 2: there you go. So there you go.
• 0:51
  Speaker 1: So our lives are, You know, real estate and football
• 0:54
  Speaker 1: and baseball parks. Yep. That's pretty much it. Anything? How
• 0:58
  Speaker 1: you been?
• 0:58
  Speaker 2: That sums it up.
• 0:59
  Speaker 1: How's it going? Pretty good.
• 1:01
  Speaker 2: I was sick this past week.
• 1:02
  Speaker 1: Uh-oh.
• 1:03
  Speaker 2: I had a pretty rough round of COVID for a
• 1:05
  Speaker 2: few days.
• 1:06
  Speaker 1: No way.
• 1:07
  Speaker 2: Oh, man.
• 1:08
  Speaker 1: The vid.
• 1:09
  Speaker 2: The vid got me.
• 1:10
  Speaker 1: Back around.
• 1:11
  Speaker 2: Got me good.
• 1:12
  Speaker 1: Did it really?
• 1:12
  Speaker 2: Did. So, yeah. But, no, I'm back and good. And so, yeah.
• 1:18
  Speaker 2: A little wonky, but we had just a good week
• 1:21
  Speaker 2: near the end of it and on. Man.
• 1:24
  Speaker 1: Yeah. Yeah, I hate to hear that. That's crazy.
• 1:31
  Speaker 2: Gusty's reeling his brain out. He's like, should Brad be
• 1:33
  Speaker 2: in here? I'm good. I'm good.
• 1:36
  Speaker 1: John, are we going to be okay? First I'm hearing this.
• 1:39
  Speaker 1: yeah I'll just uh hold on I got one of
• 1:41
  Speaker 1: those masks left over from COVID I'll start it on
• 1:44
  Speaker 1: leftover I like it yeah leftover SR5 whatever they're called oh.
• 1:48
  Speaker 2: My gosh but no no KM95 good but I missed
• 1:52
  Speaker 2: so we had a game this week football and I'm
• 1:54
  Speaker 2: the head coach first one I've missed because I'm out
• 1:56
  Speaker 2: so I wasn't there.
• 1:57
  Speaker 1: You were down then yeah yeah for you to miss
• 1:59
  Speaker 1: a football game is pretty.
• 2:01
  Speaker 2: Yeah there was no I wouldn't I wasn't getting out
• 2:03
  Speaker 2: there Tuesday um Anyways, but we won, and so I
• 2:07
  Speaker 2: watched it later on the replay on the huddle. But, no,
• 2:10
  Speaker 2: so everything good. Just, I mean, we're officially in fall.
• 2:17
  Speaker 2: We had fall come in this past week. So, I mean,
• 2:21
  Speaker 2: we're getting towards the end of, I mean, what's today?
• 2:24
  Speaker 2: This is our last show in September. Oh, my God.
• 2:30
  Speaker 2: Is that right? I got to look at the, I
• 2:32
  Speaker 2: got to last, this is our last show in September.
• 2:34
  Speaker 2: So we're, this is the end of third quarter, um,
• 2:36
  Speaker 2: this week. So, um, I mean, yeah, so we're, we're
• 2:39
  Speaker 2: going to the fourth quarter. We're going to the fourth quarter,
• 2:41
  Speaker 2: October one's coming up. So, uh, so yeah. So let's
• 2:44
  Speaker 2: get that.
• 2:45
  Speaker 1: What's interesting is, you know, I mean, actually we'll go
• 2:48
  Speaker 1: over the real estate update here actually on the next segment,
• 2:51
  Speaker 1: but you know, I mean, this past week we've been,
• 2:54
  Speaker 1: we've been busy and, and put, you know, more homes
• 2:56
  Speaker 1: under contract and, And, um, it seems like, I mean,
• 3:02
  Speaker 1: I'm in negotiations with a, with a large home of
• 3:04
  Speaker 1: somebody that's relocating from Nashville to the area. Um, I've
• 3:09
  Speaker 1: got like this week, I've got people that are relocating
• 3:12
  Speaker 1: from Atlanta, um, that are closing. So, I mean, we've,
• 3:16
  Speaker 1: we've got a lot going on. So, and we got some, uh,
• 3:19
  Speaker 1: we got some new listings. We got three new listings.
• 3:21
  Speaker 1: I've got one that, um, and we've got some coming
• 3:25
  Speaker 1: soons that I'm going to talk about. So, um, Let's
• 3:29
  Speaker 1: get the game going. Brad with Cross Country Mortgage, bradsmithloans.com.
• 3:35
  Speaker 1: Share the rules of the game.
• 3:37
  Speaker 2: All righty. Gus is going to go through some of
• 3:38
  Speaker 2: the new listings, maybe some open houses, some different stuff
• 3:40
  Speaker 2: they've got going on in the real estate world. He's
• 3:42
  Speaker 2: going to give us the cool features and interesting things
• 3:45
  Speaker 2: about each property. But what I need is the list
• 3:47
  Speaker 2: price of the home, at which point I'll give a
• 3:49
  Speaker 2: potential down payment that a borrower may make. And then
• 3:51
  Speaker 2: John and Gusty will take their best guesses at the
• 3:55
  Speaker 2: 30-year fixed monthly principal and interest only payment. It's that simple.
• 4:00
  Speaker 1: Yeah, that simple.
• 4:02
  Speaker 2: All right.
• 4:03
  Speaker 1: Our first new listing of the week is in Homewood,
• 4:07
  Speaker 1: 1001 Drexel Parkway. This has been recently renovated, three bedrooms
• 4:12
  Speaker 1: and two baths, 1,356 square feet, and we are asking $ 444, 900.
• 4:14
  Speaker 2: $ 444, 900.
• 4:14
  Speaker 1: And this listing is courtesy of Richie Aubel, go see
• 4:26
  Speaker 1: him this afternoon from 2 to 4. And like I said,
• 4:29
  Speaker 1: been fully renovated. It's zoned for Hall-Kent Elementary School. I
• 4:33
  Speaker 1: know that's important to know since there's three elementary schools
• 4:37
  Speaker 1: in the Homewood area. So if you're looking for something
• 4:41
  Speaker 1: that's been renovated, there we go. That's great.
• 4:44
  Speaker 2: All right.
• 4:44
  Speaker 1: 444.9. 444.9.
• 4:44
  Speaker 2: All right. We're going to start with 5% down.
• 4:47
  Speaker 1: 5% down. Okay.
• 4:57
  Speaker 2: There it is.
• 4:57
  Speaker 1: Yeah, I was like, man, the music's... I was waiting for...
• 5:02
  Speaker 1: I don't know what I was waiting for. John, what
• 5:04
  Speaker 1: were you waiting for? Some sort of cue. I'm not
• 5:06
  Speaker 1: exactly sure.
• 5:08
  Speaker 2: Okay. It wasn't that I knew that we were missing
• 5:10
  Speaker 2: the music. It was just like something didn't feel right.
• 5:12
  Speaker 1: Right. Totally.
• 5:13
  Speaker 2: It was a weird silence of like something's supposed to
• 5:16
  Speaker 2: be filling this void.
• 5:17
  Speaker 1: Yeah, totally. All right. I'm going to go with.
• 5:26
  Speaker 1: I'm going to go with 2,700. 2,700 for Gusty. I
• 5:33
  Speaker 1: think that's pretty close, but I'm going to go a
• 5:35
  Speaker 1: little under.
• 5:36
  Speaker 2: I'm going to say 2,550. It was actually 2,883. Gusty
• 5:41
  Speaker 2: gets round one. And there you go. Boom. Got it.
• 5:51
  Speaker 1: Adjust up.
• 5:52
  Speaker 2: Yeah.
• 5:53
  Speaker 1: Maybe. All right. Next... New listing of the week. This
• 5:58
  Speaker 1: is 5804 34th Street North. This is three bedrooms, one bath, 1,353
• 6:05
  Speaker 1: square feet, sitting on an acre lot in the Lewisburg
• 6:10
  Speaker 1: Gardens neighborhood. This is in North Birmingham, pretty close to Fultondale.
• 6:15
  Speaker 1: This one was built in 1959. Check out this price. $ 4, 999. $ 4, 999.
• 6:23
  Speaker 1: Richie is just about– I'm wondering how many offers he's
• 6:27
  Speaker 1: going to get on this one. Wow. Because that one
• 6:30
  Speaker 1: is going to go haywire.
• 6:32
  Speaker 2: That's awesome.
• 6:33
  Speaker 1: That's a good price. It's incredible. Actually, I'm looking at it.
• 6:36
  Speaker 1: I might want to make an offer on it.
• 6:38
  Speaker 2: Y'all scratch it.
• 6:42
  Speaker 1: Hey, I'm telling you, that's a solid price on that. Yeah.
• 6:47
  Speaker 2: While Gussie's looking to buy this one, we're going to
• 6:48
  Speaker 2: go 49-9. Until Gussie does, we're going to say somebody
• 6:51
  Speaker 2: may put 10% down on it. 10% down on it.
• 6:55
  Speaker 2: And John gets to go first.
• 6:57
  Speaker 1: I bought one in Adamsville. I put one under contract
• 7:00
  Speaker 1: in Adamsville. Nice. I do like adding to the rental portfolio.
• 7:08
  Speaker 1: I'm going to say 300 bucks. Did you say 10% down?
• 7:12
  Speaker 2: I did.
• 7:22
  Speaker 1: Why is this one harder than the other ones? What
• 7:26
  Speaker 1: did he say? I said $ 300. That's like a car payment.
• 7:30
  Speaker 1: Three and a quarter.
• 7:32
  Speaker 2: Three and a quarter was actually $ 306. John gets round two.
• 7:34
  Speaker 1: Oh, man. I knew it was close.
• 7:36
  Speaker 2: Yep, yep, yep. I thought you might price it right.
• 7:38
  Speaker 1: No, no, no. You know what? This was exactly, you
• 7:42
  Speaker 1: moved the decimal point over from the last one.
• 7:44
  Speaker 2: Oh, yeah, yeah, yeah.
• 7:45
  Speaker 1: That's why I based that on. There you go. All right. Oh, man.
• 7:48
  Speaker 1: I'm just seeing this picture for the first time. This
• 7:51
  Speaker 1: one looks good. 7513 Carroll Wood Way in Trussville, sitting
• 7:57
  Speaker 1: on almost a half acre lot built in 1994. Features
• 8:02
  Speaker 1: four bedrooms, two and a half baths, 2,234 square feet.
• 8:06
  Speaker 1: We are asking $ 389, 900. $ 389, 900. It's also got a fenced yard.
• 8:11
  Speaker 1: It's got another separate fenced area for dogs. We've got
• 8:16
  Speaker 1: a two-car garage. We've got a full unfinished basement. So
• 8:20
  Speaker 1: if you wanted to add some square footage, you totally could.
• 8:23
  Speaker 1: It's zoned for Payne Elementary and then Hewitt Trustful High School.
• 8:28
  Speaker 1: And a bunch of updates have been done. And let's see. HVAC,
• 8:34
  Speaker 1: just a couple of years old. Basement was waterproofed a
• 8:37
  Speaker 1: couple of years ago with a transferable warranty. And yeah,
• 8:41
  Speaker 1: it's got new butcher block countertops. So that's always good too. $ 389, 900.
• 8:45
  Speaker 2: $ 389, 900, we're going to go back to 20% down, 20% down.
• 8:51
  Speaker 2: Sit back, too. We haven't done it yet.
• 8:53
  Speaker 1: Okay. 20% down. 20% down. All right. Okay. This is
• 8:59
  Speaker 1: for all the marbles.
• 9:00
  Speaker 2: All the marbles. Last property. It's one to one.
• 9:03
  Speaker 1: This is very important.
• 9:05
  Speaker 2: I think this is for September.
• 9:07
  Speaker 1: Well, yeah, yeah. I'm just trying to make it. It
• 9:13
  Speaker 1: might be. I think I won one time. That still
• 9:15
  Speaker 1: wouldn't make it worth it. It would tie up September
• 9:18
  Speaker 1: is what it would do.
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  Speaker 2: Okay.
• 9:19
  Speaker 1: I'm going to go with $ 2, 050. I think he's all
• 9:23
  Speaker 1: over it, but I'm going to go a little higher. $ 2, 100.
• 9:30
  Speaker 1: The actual payment was $ 2, 128. John gets it today. John
• 9:32
  Speaker 1: gets it.
• 9:32
  Speaker 2: Round three. In round three.
• 9:43
  Speaker 1: I'm going to go on like a real game show
• 9:44
  Speaker 1: and actually win some money next time.
• 9:46
  Speaker 2: Oh, man.
• 9:46
  Speaker 1: Yeah, really.
• 9:47
  Speaker 2: Yeah. Well. Congratulations, John Mayles. Yeah.
• 9:52
  Speaker 1: You used to award me with a post-it note.
• 9:54
  Speaker 2: Oh, you still got it.
• 9:55
  Speaker 1: Yeah.
• 9:56
  Speaker 2: Boom.
• 9:57
  Speaker 1: Post-it note right here.
• 9:58
  Speaker 2: It's official. It's an official scoreboard.
• 10:00
  Speaker 1: Yeah. Hey, I want to tell you.
• 10:02
  Speaker 2: Dusty's got so many, he doesn't even collect them anymore.
• 10:04
  Speaker 2: That's the difference.
• 10:05
  Speaker 1: Hey, we've got one coming up in Adamsville on 1.4
• 10:08
  Speaker 1: acres for $ 120, 000. We've got one coming up in Cleveland, Alabama.
• 10:15
  Speaker 1: Did you know there was a Cleveland, Alabama? It's in
• 10:17
  Speaker 1: Blount County. For one acre and a home, three bedrooms,
• 10:22
  Speaker 1: two baths for $ 215, 000. That's coming up. We've also got
• 10:26
  Speaker 1: a four bedroom, four and a half bath home on
• 10:31
  Speaker 1: Eastern Valley Road in Leeds that's sitting on three acres.
• 10:35
  Speaker 1: That is across from a huge farm that has been
• 10:39
  Speaker 1: completely renovated. That's going to be coming up and we're
• 10:43
  Speaker 1: finalizing the price on that. And then we've also got
• 10:46
  Speaker 1: one coming up in the Forest Lake subdivision in Helena
• 10:50
  Speaker 1: for $ 420, 000. So we've got a bunch of listings coming up.
• 10:54
  Speaker 1: I really like that. Also got some things coming up
• 10:57
  Speaker 1: in Centerpoint and in the city of Birmingham. So I've
• 11:01
  Speaker 1: got a bunch of stuff that's coming down the pipeline.
• 11:06
  Speaker 1: We do have some buyer needs. So I've got somebody
• 11:09
  Speaker 1: looking in the Crestwood, Forest Park, or Avondale area, single
• 11:13
  Speaker 1: level up to $ 600, 000. I've got multiple buyers in the
• 11:16
  Speaker 1: Homewood market, up to $ 1. 2 million. I've got somebody looking
• 11:21
  Speaker 1: for a single level with a pool, up to $ 350, 000.
• 11:25
  Speaker 1: And I've got a buyer relocating to the area. They
• 11:27
  Speaker 1: are open to Liberty Park, Greystone, Ross Bridge, maybe Black Ridge,
• 11:34
  Speaker 1: up to $ 2 million. And so if you've got a
• 11:37
  Speaker 1: home that matches one of those criteria, go to gustygoulasgroup.com
• 11:42
  Speaker 1: or call or text 205. 542-1996. Hey, guess what time
• 11:48
  Speaker 1: it is?
• 11:48
  Speaker 2: That's right. It's testimonial time.
• 11:54
  Speaker 1: All right, we got two today. that we're going to
• 11:56
  Speaker 1: get to share. The first one is from Kim and
• 11:59
  Speaker 1: Kim says, we had a seamless experience with Carla Deliberto.
• 12:04
  Speaker 1: We are a military family and we're connected to her
• 12:06
  Speaker 1: by an affiliated company in North Carolina. She worked with
• 12:10
  Speaker 1: us while she was on vacation, always making us feel
• 12:12
  Speaker 1: heard and took time to listen to our needs. A
• 12:16
  Speaker 1: blessing came with an off market home and Carla was
• 12:19
  Speaker 1: a strong advocate for our needs. Thank you, Carla. So Kim,
• 12:23
  Speaker 1: congratulations on your new home here in Birmingham. And Carla,
• 12:27
  Speaker 1: congratulations on another five-star review. And this one is from John.
• 12:35
  Speaker 1: John says, Jonathan did a fantastic job in helping us
• 12:39
  Speaker 1: find our next home. He is very personable and professional
• 12:43
  Speaker 1: with a vast amount of knowledge, which made for a
• 12:45
  Speaker 1: great home buying experience. We highly recommend you reach out
• 12:49
  Speaker 1: to him for your home buying and selling process. So John,
• 12:53
  Speaker 1: congratulations on your new home. And Jonathan, congratulations on... Another
• 12:59
  Speaker 1: five-star review. That's right. That's the five stars this week.
• 13:04
  Speaker 1: I love those. Love five stars. Big fan. Big fan.
• 13:08
  Speaker 1: All right. Well, y'all stay tuned. We're going to talk
• 13:11
  Speaker 1: a little bit about what we're seeing in the mortgage market,
• 13:13
  Speaker 1: what we're seeing in the real estate market. right here
• 13:16
  Speaker 1: on Bought, Bought, and Sold. Stay tuned. Welcome back to Bought, Bought,
• 13:23
  Speaker 1: and Sold. Thank you again for joining us each and
• 13:26
  Speaker 1: every Sunday morning right here on 105.5 and then also
• 13:29
  Speaker 1: on the iHeart app. So you can check it out.
• 13:34
  Speaker 1: We go back like tons of shows. I don't know.
• 13:37
  Speaker 1: I mean, like there's probably at this point, was this
• 13:38
  Speaker 1: like 300 shows, John?
• 13:40
  Speaker 2: We'll do the math.
• 13:41
  Speaker 1: We've been doing this for, what, six years? Six years, yeah.
• 13:43
  Speaker 1: So six times 52 shows-ish. This could be our 300th
• 13:47
  Speaker 1: show pretty close. Sounds like some sort of celebration kind
• 13:50
  Speaker 1: of thing. Man, we need to do that. You know,
• 13:53
  Speaker 1: that's pretty cool. Balloon drop, fireworks, all that kind of stuff.
• 13:57
  Speaker 2: I know whose 300th show it's not. Yours. This guy's.
• 14:02
  Speaker 2: I'm probably close to 100 now, though.
• 14:03
  Speaker 1: Yeah, I would say so.
• 14:04
  Speaker 2: Or over 100.
• 14:05
  Speaker 1: Yeah, I would say so. You know, it's so funny.
• 14:07
  Speaker 1: It actually got... It got me into being the announcer
• 14:12
  Speaker 1: of the fourth grade Homewood football team games. That's where
• 14:17
  Speaker 1: this got me. Where did you get middle school? So
• 14:21
  Speaker 1: everybody was like, man, you should do this. And I'm like, man,
• 14:27
  Speaker 1: I'm good. There was no other option. It was like, hey, Gusty,
• 14:33
  Speaker 1: you're doing this. I was like, I guess I'm going
• 14:35
  Speaker 1: to do it. Well, you know what? I did it.
• 14:38
  Speaker 1: I'm having fun with it, and everybody seems to like it.
• 14:41
  Speaker 2: That's the key is have fun with it. Hey, listen,
• 14:44
  Speaker 2: if you can get some chuckles out there, just people
• 14:46
  Speaker 2: get excited and you get them clapping a little bit
• 14:48
  Speaker 2: or get a couple looks up or some ha-has out there.
• 14:50
  Speaker 1: Hey, I'm getting some home-filled advantage.
• 14:53
  Speaker 2: Yeah, that's big.
• 14:54
  Speaker 1: Hey, we had a fumble in our game this past week.
• 14:56
  Speaker 1: We had a fumble. And, I mean, it was like
• 15:00
  Speaker 1: the Gardendale team was on like the eight-yard line about
• 15:04
  Speaker 1: to score. And kid ran it up the middle. One
• 15:07
  Speaker 1: of our linebackers busted it out. Fumble on the play.
• 15:11
  Speaker 1: So I yelled out, Fumble! Fumble! And I forgot that
• 15:14
  Speaker 1: I'm on the mic.
• 15:15
  Speaker 2: I was about to ask.
• 15:16
  Speaker 1: It probably blew some eardrums.
• 15:18
  Speaker 2: I was going to ask if you had any officials
• 15:20
  Speaker 2: tell you, hey, you can't be talking live during the play.
• 15:23
  Speaker 2: I didn't know if you got any warnings.
• 15:24
  Speaker 1: No, I have not gotten any warnings. And you know
• 15:26
  Speaker 1: there's a ref that sits.
• 15:27
  Speaker 2: Right beside me. Yeah, there is.
• 15:28
  Speaker 1: So they have not said anything.
• 15:29
  Speaker 2: Usually Charlie's up there usually with you.
• 15:31
  Speaker 1: Well, I don't– Well, I don't, I'm not saying like,
• 15:35
  Speaker 1: the play is pretty much done before I'm talking.
• 15:39
  Speaker 2: I'm kidding. I'm saying like, but sometimes, no, my point
• 15:41
  Speaker 2: is you forget you're holding it and you do, you
• 15:43
  Speaker 2: want to start going and.
• 15:44
  Speaker 1: That's right.
• 15:44
  Speaker 2: And you, and you, and you, sometimes you almost get
• 15:46
  Speaker 2: caught like you're doing play by play.
• 15:48
  Speaker 1: Yes.
• 15:48
  Speaker 2: And you realize you're not on the radio. People can,
• 15:50
  Speaker 2: the people that are there, they can see it.
• 15:52
  Speaker 1: Right.
• 15:52
  Speaker 2: You're not, you're not trying to paint a picture for
• 15:54
  Speaker 2: people in their cars or anything.
• 15:56
  Speaker 1: It seems like I might have a career, you know,
• 16:00
  Speaker 1: and broadcasting for fourth grade football.
• 16:04
  Speaker 2: I can see it, hear it. I believe it. I
• 16:07
  Speaker 2: believe it. Hey, I mean, if you want double duty,
• 16:09
  Speaker 2: I can get you our schedule for fifth grade.
• 16:11
  Speaker 1: You know, what's funny is, you know, they came in
• 16:14
  Speaker 1: and asked me to do it. Oh, yeah. And I
• 16:17
  Speaker 1: was like, you know, they just don't pay me enough here.
• 16:19
  Speaker 1: And then they were like, well, I think we're going
• 16:21
  Speaker 1: to get some volunteers and we're going to put some
• 16:23
  Speaker 1: money together for this. I was like, nah. And then
• 16:26
  Speaker 1: I don't know who's doing the commentating for the fifth
• 16:27
  Speaker 1: grade football team, but he's like, Yeah, man. He was like,
• 16:31
  Speaker 1: I don't know about going after you after this.
• 16:35
  Speaker 2: Oh, yeah, because y'all had the American fifth grade playing after.
• 16:40
  Speaker 1: Yes.
• 16:40
  Speaker 2: That's right.
• 16:41
  Speaker 1: He was like. I don't know.
• 16:43
  Speaker 2: I forgot who does that.
• 16:45
  Speaker 1: I've met him before, but I can't remember his name.
• 16:47
  Speaker 2: Yeah. Well, the first game, whoever did it, I mean,
• 16:49
  Speaker 2: they said like five words the whole game. And I
• 16:51
  Speaker 2: was like, well, is there anybody up there? Is there anybody? Yeah.
• 16:55
  Speaker 1: It's actually kind of hard to see. It is. Anyhow.
• 16:59
  Speaker 1: All right. Well, let's talk about what we're seeing in
• 17:01
  Speaker 1: the market. Mortgage rates, real estate market. Can I touch
• 17:05
  Speaker 1: on the real estate market, what I've been seeing here lately?
• 17:07
  Speaker 2: I would rather you touch on that.
• 17:08
  Speaker 1: Yeah. Yeah. So I will tell you, we've been busy.
• 17:14
  Speaker 1: I've got somebody that's relocating here from Nashville that we're
• 17:18
  Speaker 1: negotiating on a property. Recently, we had somebody relocating from
• 17:22
  Speaker 1: Atlanta that's going to be closing on their home this week.
• 17:26
  Speaker 1: We've got people, even with rates being where they're at,
• 17:31
  Speaker 1: and I know you're going to talk about that in
• 17:32
  Speaker 1: a minute. I think people have come to the assumption
• 17:36
  Speaker 1: or the understanding that they know hey, rates are what
• 17:40
  Speaker 1: they are. And based on their situation, look, they're buying
• 17:44
  Speaker 1: no matter what. Does it make sense to buy today
• 17:47
  Speaker 1: or does it make sense to maybe buy in six months?
• 17:51
  Speaker 1: That's really, to me, I feel like it depends on
• 17:53
  Speaker 1: the house. But then there's also been situations. We had
• 17:57
  Speaker 1: one that was not able to be approved. This was
• 18:01
  Speaker 1: pretty interesting. Was not able to be approved. And then
• 18:05
  Speaker 1: we went to a new construction community And because of
• 18:09
  Speaker 1: the promotions that that builder was providing, they were able
• 18:14
  Speaker 1: to get pre-approved and into a house. And their actual
• 18:18
  Speaker 1: mortgage payment was like $ 500 or $ 600 less, which qualified
• 18:22
  Speaker 1: them for the house. Yeah, 100%. So, you know, there's
• 18:25
  Speaker 1: all kinds of different options. We've worked with multiple folks
• 18:28
  Speaker 1: that bought new construction this past month. And that's something
• 18:32
  Speaker 1: that we typically do on a monthly basis. Um, like
• 18:36
  Speaker 1: I wrote, wrote another, you know, new construction, you know,
• 18:40
  Speaker 1: paperwork on something that's going to take about six, seven
• 18:42
  Speaker 1: months to close. Right. And build and then close. And, uh,
• 18:46
  Speaker 1: and so we're, I mean, I will say it looks
• 18:49
  Speaker 1: like new construction has done pretty well because they've.
• 18:52
  Speaker 2: The different incentives they've built in. The incentivize really good.
• 18:53
  Speaker 2: They can do some rate stuff and do some buy
• 18:55
  Speaker 2: down options and do some stuff for qualifying purposes.
• 18:58
  Speaker 1: I feel like the people that are out and about looking,
• 19:00
  Speaker 1: I feel like they are serious. Yes. I don't feel
• 19:03
  Speaker 1: like we are seeing as many looky-loos as we typically
• 19:07
  Speaker 1: would in any kind of market. I feel like if
• 19:09
  Speaker 1: somebody's coming to look at the house, they're pretty serious,
• 19:13
  Speaker 1: I really do feel like. And that's kind of where
• 19:16
  Speaker 1: I'm at on things. What have you been seeing?
• 19:19
  Speaker 2: Yeah, I mean, I see it. I mean, I think
• 19:22
  Speaker 2: we're kind of in a similar boat. I'm not saying
• 19:24
  Speaker 2: it's exactly the same as we've been in the past
• 19:26
  Speaker 2: two or three years. You know, I feel like we
• 19:29
  Speaker 2: keep thinking... we keep hoping and we keep seeing signs
• 19:33
  Speaker 2: that rates are going to come down. And we kind of,
• 19:34
  Speaker 2: you know, I say we dangle that carrot, but we're
• 19:37
  Speaker 2: not really dangling it. It's what we see and what
• 19:39
  Speaker 2: it should be kind of doing during some of this stuff.
• 19:42
  Speaker 2: But then we've also had other things that happen economically
• 19:44
  Speaker 2: that impact it. And so some of the things that
• 19:47
  Speaker 2: impact it, it's not even the rates that are changing
• 19:50
  Speaker 2: people's minds. It's their full financial picture may be changing,
• 19:55
  Speaker 2: whether it's their stock or their 401ks or their, you know,
• 19:58
  Speaker 2: depending on, you know, we talk about, you know, where
• 20:01
  Speaker 2: your house is matters, how much you're going to price
• 20:03
  Speaker 2: it for, what the location condition, all those things matter.
• 20:06
  Speaker 2: So they've got to also, people got a house to sell.
• 20:09
  Speaker 2: You know, not all of them are in a position
• 20:10
  Speaker 2: where necessarily they're going to be making $ 50, 000, $ 100, 000, $ 150, 000
• 20:12
  Speaker 2: on the sale. So, I mean, there's different financial impacts
• 20:16
  Speaker 2: besides just the rates. But I'm with you. I mean,
• 20:20
  Speaker 2: we talk about rates, and obviously we want the rates lower. But,
• 20:27
  Speaker 2: I mean, we're just in a normal rate environment. Yeah.
• 20:30
  Speaker 2: I mean, that's where we're at. I mean, we just
• 20:32
  Speaker 2: got teased. We had a decade there where we were
• 20:34
  Speaker 2: kind of teased with some different economical things that kicked
• 20:36
  Speaker 2: us there. And then some world health crises that were
• 20:40
  Speaker 2: mixed in there. You know, sixes and sevens and high
• 20:44
  Speaker 2: fives and that range, that's typically been the bottom end
• 20:50
  Speaker 2: of a 30-year fixed mortgage before some of the other stuff.
• 20:54
  Speaker 2: So I think it's just retrained. I mean, we're now...
• 20:58
  Speaker 2: I mean, we're a good four years into this rate
• 21:00
  Speaker 2: environment now, if not a hair longer. That's right. We're
• 21:03
  Speaker 2: right in that mode, okay?
• 21:04
  Speaker 1: Yeah, since what, 2022?
• 21:05
  Speaker 2: Yeah, yeah. So the back end of 2022.
• 21:06
  Speaker 1: I mean, if you look at where were we exactly,
• 21:08
  Speaker 1: I mean, at this point in 2022, we were probably
• 21:12
  Speaker 1: at just gotten to like 6%.
• 21:13
  Speaker 2: Yeah, that's what I was going to say. We were
• 21:16
  Speaker 2: ticking this direction. That's right. At the end of 2022,
• 21:18
  Speaker 2: going into 2023 is when we started seeing mid-upper 6s,
• 21:21
  Speaker 2: maybe low 7s. And started being like, okay, what do
• 21:24
  Speaker 2: we got going on here?
• 21:25
  Speaker 1: And then we got into a little low eights for
• 21:27
  Speaker 1: a little bit.
• 21:28
  Speaker 2: Yeah. And then we've just been kind of here, which, again,
• 21:31
  Speaker 2: I bring this up. I bought my first house in 2006.
• 21:36
  Speaker 2: My 30-year fixed rate, I worked for the bank at
• 21:39
  Speaker 2: the time, so I had an employee rate discount. My
• 21:41
  Speaker 2: 30-year fixed rate on my first house I bought in
• 21:44
  Speaker 2: 06 was 7.25%.
• 21:44
  Speaker 1: Okay.
• 21:44
  Speaker 2: 20 years later, the national average today is 7.26%. So again,
• 21:55
  Speaker 2: that was a normal rate environment. Matter of fact, that
• 21:59
  Speaker 2: was before the housing crash. That was when mortgages, you
• 22:01
  Speaker 2: couldn't buy and sell houses fast enough. You couldn't put
• 22:04
  Speaker 2: them on the ground fast enough.
• 22:06
  Speaker 1: Right.
• 22:06
  Speaker 2: And people were churning through them and buying them and
• 22:08
  Speaker 2: getting them. So again, but that was the rates people
• 22:11
  Speaker 2: were used to, and it had just come back from
• 22:13
  Speaker 2: 20 years before that in the 80s when they were
• 22:15
  Speaker 2: in the teens, 13, 14, 12, 15, 16% interest rates,
• 22:17
  Speaker 2: mortgage rates. So again- We talk about it. It is
• 22:25
  Speaker 2: a focal point because it has a big picture on
• 22:26
  Speaker 2: the overall economy, and it does matter on what you
• 22:30
  Speaker 2: can get and what you can't get a lot of times.
• 22:33
  Speaker 2: But at the end of the day, it's not the
• 22:35
  Speaker 2: driving force because, again, this is just a normal rate environment.
• 22:38
  Speaker 2: We just had a blip there where it was just
• 22:41
  Speaker 2: in the fours and even the threes and half a
• 22:44
  Speaker 2: minute in the twos.
• 22:45
  Speaker 1: Yeah.
• 22:46
  Speaker 2: And that's not normal. I should have took more advantage
• 22:51
  Speaker 2: of this, you know. Well, at the time, too, you know,
• 22:57
  Speaker 2: I talk about this, too. This is going to be
• 22:59
  Speaker 2: a longer second segment, but then you get going. But,
• 23:02
  Speaker 2: I mean, you start looking. I've talked about this before
• 23:04
  Speaker 2: on this show. The history of it, it's not that long.
• 23:08
  Speaker 2: I mean, think about when houses started. You know, we
• 23:10
  Speaker 2: started really buying and selling houses. Let's go back to
• 23:12
  Speaker 2: the Great Depression and move forward in the late 20s.
• 23:15
  Speaker 2: We're talking about 100 years of figuring it all out. So, like,
• 23:21
  Speaker 2: don't worry about the rate.
• 23:22
  Speaker 1: Yeah.
• 23:23
  Speaker 2: That was my long way, I guess, to get there
• 23:25
  Speaker 2: of like, this is not a crazy interest rate. It's
• 23:27
  Speaker 2: not high rates. It's high to what we got used
• 23:29
  Speaker 2: to for a little bit, but this isn't high interest
• 23:30
  Speaker 2: rate environment.
• 23:31
  Speaker 1: Sure.
• 23:31
  Speaker 2: True, true, true.
• 23:32
  Speaker 1: Well, hey, for any of your real estate needs, whether
• 23:36
  Speaker 1: it's buying, selling, or investing... I would love to be
• 23:39
  Speaker 1: an option and an opportunity for you. You can go
• 23:42
  Speaker 1: to gustygoulisgroup.com or you can reach out to us directly
• 23:46
  Speaker 1: at 205-542-1996. Thank you, as always, for joining us. If
• 23:50
  Speaker 1: you want to get pre-qualified for a mortgage, bradsmithloans.com. Thanks
• 23:55
  Speaker 1: so much. Have a wonderful day. Catch you in October.
• 23:58
  Speaker 2: Peace.