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Rates are headed down, is now the right time to buy and sell? · Bought Borrowed and Sold

• 0:00
  Speaker 1: Well, hello everybody, welcome to Ballbard and sold Gusty Goois
• 0:05
  Speaker 1: here hanging out with Brad Smith with Cross Country Mortgage
• 0:08
  Speaker 1: in the studio way Brad, how are you man?
• 0:11
  Speaker 2: And I'm good good, school's back in.
• 0:14
  Speaker 1: I ain't good you thank you goodness gracious, Now we
• 0:18
  Speaker 1: can get some structure, you know what I'm saying.
• 0:20
  Speaker 2: For sure.
• 0:21
  Speaker 1: Well, but the problem is, you know, both both of
• 0:24
  Speaker 1: us are you know, we've got kids in football and
• 0:26
  Speaker 1: my goodness, that takes a lot of time. You're actually coaching,
• 0:29
  Speaker 1: so that makes it even worse. Yeah, in time.
• 0:33
  Speaker 2: Yeah, so but I bet you're having fun with Oh yeah,
• 0:35
  Speaker 2: it's it's the biggest thing for that is like literally
• 0:38
  Speaker 2: this week this week is the busiest week for our
• 0:40
  Speaker 2: tackle before the season starts and with school starting, so
• 0:43
  Speaker 2: trying to make sure you're not upsetting parents on like
• 0:46
  Speaker 2: bedtimes and not getting too late. But also you can't
• 0:48
  Speaker 2: go too early because it's too hot and you know,
• 0:50
  Speaker 2: there's a lot of moving parts. But you just try
• 0:52
  Speaker 2: to keep everybody happy. But it's a lot of fun.
• 0:54
  Speaker 2: That's not possible. You can't keep everybody. I wish fifty
• 0:58
  Speaker 2: one percent what you're looking for, hopefully more than that,
• 1:02
  Speaker 2: I know, but I'll take it. I'll take the edge.
• 1:05
  Speaker 2: Well good, how about y'all.
• 1:06
  Speaker 1: You know, with football has been great. My my oldest
• 1:10
  Speaker 1: Trip has been loving it good and so I think
• 1:14
  Speaker 1: he's got settled in now it's like defensive line and linebacker.
• 1:19
  Speaker 1: So so that's been pretty cool. So I've had my
• 1:21
  Speaker 1: laptop out at the practice field, so I'm like hammering
• 1:25
  Speaker 1: out work, you know, trying to find shade at the
• 1:28
  Speaker 1: football fields and you know, uh, you know, watching my
• 1:32
  Speaker 1: son practice and the team practice and and uh. So
• 1:36
  Speaker 1: I've been having a ball actually really really been excited.
• 1:40
  Speaker 1: And my youngest Max has like been I've been taking
• 1:42
  Speaker 1: him up there and he's been playing with like you know,
• 1:44
  Speaker 1: little but he's like amped up for flag football, which
• 1:49
  Speaker 1: is about to pop. So and I think he'll be
• 1:53
  Speaker 1: excited for tackle football when when it's his turn.
• 1:56
  Speaker 2: Ready for this, ready for first to start field and
• 1:58
  Speaker 2: I know we got a little while longer. I'm ready
• 2:00
  Speaker 2: for the cool off a little bit. Yeah, it's been
• 2:02
  Speaker 2: a little steamy.
• 2:03
  Speaker 1: It's been a little steam has uh And speaking of steaming, oh,
• 2:08
  Speaker 1: the market has been heating up a little as I
• 2:11
  Speaker 1: think people have been uh you know, got back in town. Yep,
• 2:14
  Speaker 1: and uh. We put over the last week we put
• 2:17
  Speaker 1: both of We had a couple of homes in Hoover,
• 2:20
  Speaker 1: one in ross Bridge, one in near the Hoover Country Club.
• 2:23
  Speaker 1: Both of those have gone under contract. This past week.
• 2:28
  Speaker 1: We've gotten more showings on properties we've reduced the price on.
• 2:33
  Speaker 1: We've got a condo downtown on First Avenue North that
• 2:36
  Speaker 1: we reduced the price from three seventy nine to three fifty,
• 2:42
  Speaker 1: so that was huge. Hey. Yeah, had got a new
• 2:46
  Speaker 1: price on a property at Horizon Condos down Highway to
• 2:49
  Speaker 1: eighty to one seventy two five. So you know, we're
• 2:54
  Speaker 1: we're getting prepared for like a little hoping a little
• 2:57
  Speaker 1: bit of a rush.
• 2:58
  Speaker 2: Yep and uh.
• 2:59
  Speaker 1: And I'm sure that we'll talk about what we're seeing
• 3:01
  Speaker 1: on interest rates a little bit, but I will say
• 3:04
  Speaker 1: I I've been I don't know what's really the word,
• 3:09
  Speaker 1: but I've been cautiously optimistic about our market. And this
• 3:16
  Speaker 1: week I feel like finally things have kind of opened up.
• 3:21
  Speaker 1: And it's you know what, when you're trying to get
• 3:23
  Speaker 1: ready for school all those things, it just you know,
• 3:26
  Speaker 1: people have got to get back in their routines. They've
• 3:28
  Speaker 1: got to get settled, they've got to get their schedules organized,
• 3:31
  Speaker 1: and you know, with all that going on, you know,
• 3:35
  Speaker 1: the priority of buying real estate is just not really there.
• 3:39
  Speaker 1: But now that people are back in town, I feel like,
• 3:42
  Speaker 1: all right, we're going to start seeing some things.
• 3:45
  Speaker 2: Yeah, kind of happen, no doubt, But it also does
• 3:47
  Speaker 2: feel like I do feel like the school years. You
• 3:51
  Speaker 2: know that they maybe not exactly every year, but I
• 3:53
  Speaker 2: feel like our summers are getting shorter and shorter.
• 3:55
  Speaker 1: It does seem that way.
• 3:57
  Speaker 2: And some schools do go back a lot, even earlier
• 3:59
  Speaker 2: than we do in early August, like in Georgia. I
• 4:01
  Speaker 2: know they go back first week August. But you know,
• 4:04
  Speaker 2: I'm curious that, like, like you talked about that activity
• 4:06
  Speaker 2: y'all saw in contracts. I'm just curious, like how many
• 4:08
  Speaker 2: of those people have school age children and are changing
• 4:11
  Speaker 2: school systems while they're writing contracts now, Like, because that's
• 4:16
  Speaker 2: a good question, and so I know people people need
• 4:19
  Speaker 2: to do it. They're gonna do it anyways, it doesn't
• 4:20
  Speaker 2: matter what the timing is. I'm just it's interesting to
• 4:22
  Speaker 2: me that I'm with you. It's picked up this week,
• 4:24
  Speaker 2: it's picked up the last couple of weeks that were
• 4:27
  Speaker 2: but but again didn't have it. People don't have as
• 4:29
  Speaker 2: much time in the summers, and you have to do
• 4:30
  Speaker 2: it after school starts back. Also because I mean, it's
• 4:32
  Speaker 2: just it's an interesting dynamic because I feel like we
• 4:35
  Speaker 2: used to get more of a rush that end of
• 4:37
  Speaker 2: July to close in August.
• 4:39
  Speaker 1: So what I think is interesting is the two homes
• 4:44
  Speaker 1: and Hoover that they were both priced at five hundred.
• 4:47
  Speaker 1: Interestingly enough, both of those buyers, I'm not exactly sure
• 4:54
  Speaker 1: about one, but both of those buyers own homes in
• 4:59
  Speaker 1: the county, and I do know one does have at
• 5:04
  Speaker 1: least one child, but I don't know if it's actually,
• 5:09
  Speaker 1: you know, elementary school. You know, I don't think I
• 5:12
  Speaker 1: don't know if they're old enough for elementary school yet, right,
• 5:14
  Speaker 1: but you know, it's the The commonality of those is
• 5:22
  Speaker 1: both of them had a home to sell and they've
• 5:25
  Speaker 1: got to sell that to buy it. One of those
• 5:27
  Speaker 1: houses is under contract. The other one is priced at
• 5:32
  Speaker 1: three point fifty, and I would think it's probably gonna
• 5:36
  Speaker 1: move pretty quick so that they can buy the five
• 5:38
  Speaker 1: hundred thousand in our house. So interesting, cool, Yeah, it's
• 5:40
  Speaker 1: kind of interesting things to see. But and then also
• 5:44
  Speaker 1: we've been busy with new listings, so we've got six
• 5:48
  Speaker 1: new listings this week that we're going to use for
• 5:50
  Speaker 1: the game. And then I've got a couple of open houses,
• 5:54
  Speaker 1: So why don't I talk about these open houses? And
• 5:56
  Speaker 1: then Brad, I'm gonna get you to explain the rules
• 5:58
  Speaker 1: of our games. So all right, we've got two open houses.
• 6:03
  Speaker 1: We've got one in Chelsea, one in Penson this today,
• 6:07
  Speaker 1: so five seventeen Polo Way and Chelsea. This one's gonna
• 6:11
  Speaker 1: be open from eleven to one today. It's a four bedroom,
• 6:14
  Speaker 1: two and a half bath town home with a two
• 6:17
  Speaker 1: car garage, twenty one hundred and eighty four square feet
• 6:19
  Speaker 1: and it's priced at two hundred and ninety five thousand.
• 6:22
  Speaker 1: Go see John Michael Brannan John Michael Brannon at five
• 6:28
  Speaker 1: seventeen Polo Way this afternoon, well mid morning, eleven to one,
• 6:33
  Speaker 1: and then go see Tony McDaniels this afternoon from two
• 6:35
  Speaker 1: to four in Penson, fifty eight oh seven Wren Circle.
• 6:39
  Speaker 1: That's the one that's on one point eight acres, priced
• 6:42
  Speaker 1: at three hundred thousand, nineteen hundred and eighty two square feet,
• 6:45
  Speaker 1: three bedrooms, two baths, so we got a couple of
• 6:48
  Speaker 1: open houses, but we got a bunch of new listings.
• 6:50
  Speaker 1: So Brad, let's tell the rules of the game, all.
• 6:53
  Speaker 2: Right, Gus, he's gonna go through some of the new
• 6:54
  Speaker 2: listings they've got. He's gonna go through some of the
• 6:56
  Speaker 2: cool features, locations, all that fun stuff. But what I
• 6:59
  Speaker 2: needed at the end is I needed to list price,
• 7:01
  Speaker 2: the potential purchase price of the home, at which time
• 7:03
  Speaker 2: I will give a down payment that a baller may
• 7:05
  Speaker 2: make on that house, and then Gusty and John Mounts
• 7:08
  Speaker 2: will take their best guesses at the thirty year fixed
• 7:11
  Speaker 2: monthly principal interest only payment. So prince on interest only payment,
• 7:15
  Speaker 2: thirty year fixed monthly. What we're looking for?
• 7:17
  Speaker 1: Guesses, all right, right, cool educated guesses. Yeah, all right.
• 7:22
  Speaker 1: Our first new listing of the week is in Pleasant Grove,
• 7:25
  Speaker 1: three oh six First Street. This one is three bedrooms,
• 7:28
  Speaker 1: two baths, got a two car garage. Listen to this
• 7:31
  Speaker 1: twenty three hundred and twenty eight square feet. This one
• 7:34
  Speaker 1: is a huge house and it's only priced at one
• 7:37
  Speaker 1: hundred and seventy five thousand dollars. Yeah, so a three
• 7:40
  Speaker 1: two twenty three hundred square feete hundred and seventy five.
• 7:43
  Speaker 1: That's less than one hundred bucks square foot. You can't
• 7:46
  Speaker 1: even build this house, no, for one hundred and seventy
• 7:49
  Speaker 1: five thousand dollars. So all right, three six First Street,
• 7:53
  Speaker 1: one seventy five.
• 7:54
  Speaker 2: One seventy five. We're gonna start with twenty percent down,
• 7:56
  Speaker 2: twenty percent down on one seventy five.
• 8:00
  Speaker 1: All right, I'm gonna go with eight hundred and ninety
• 8:16
  Speaker 1: six dollars.
• 8:20
  Speaker 3: Thinking a little lower like eight.
• 8:24
  Speaker 4: Looking to Brad and see if he has any tells
• 8:26
  Speaker 4: like eight forty.
• 8:30
  Speaker 2: Well you had me when you said lower. So nine
• 8:33
  Speaker 2: oh seven was the actual payment? Gusty gets round one.
• 8:36
  Speaker 2: Uh did not? I ked my poker face on that time.
• 8:39
  Speaker 2: I didn't want to.
• 8:40
  Speaker 1: Yeah he didn't. He didn't give it away.
• 8:42
  Speaker 2: Here's the tip of the day. All the payments will
• 8:44
  Speaker 2: be in as sending order. There will not there will
• 8:46
  Speaker 2: not be anyone that goes backwards.
• 8:47
  Speaker 3: You're assuming we know what the word is sending means increasing.
• 8:51
  Speaker 1: I think that's what it means, all right. Next new listing,
• 8:54
  Speaker 1: I hit when I want.
• 8:54
  Speaker 2: Toggle from the cheapest.
• 8:56
  Speaker 1: Next next new listing is in Irondale forty six six
• 9:00
  Speaker 1: two Realm Forrest Drive. This is a town home in
• 9:04
  Speaker 1: the Cherokee Ben Garden Homes neighborhood, built in nineteen eighty five,
• 9:08
  Speaker 1: three bedrooms, two baths, fourteen hundred and fifty five square feet,
• 9:13
  Speaker 1: And this one's priced at two hundred and thirty eight thousand,
• 9:15
  Speaker 1: two hundred and thirty eight thousand dollars two thirty eight.
• 9:20
  Speaker 2: All right, John, we're gonna start with ten percent down,
• 9:23
  Speaker 2: ten percent down on.
• 9:24
  Speaker 1: This one, and we're in ascending order, so it's going
• 9:28
  Speaker 1: to be higher at ten percent.
• 9:29
  Speaker 3: Indeed, gonna be higher. Uh, I'm gonna go.
• 9:34
  Speaker 1: Eleven eighty, eleven eighty for John said ten percent down, Yes, sir,
• 9:46
  Speaker 1: I'm gonna go with the What did he say?
• 9:55
  Speaker 2: Eleven eighty? What happened to elimade?
• 9:57
  Speaker 1: John?
• 9:59
  Speaker 3: I was thinking of a DeDeo station frequency.
• 10:01
  Speaker 2: Oh there you go. I should have done that. I
• 10:02
  Speaker 2: should That was probably better than a history guess on
• 10:05
  Speaker 2: the AM dial. Yep.
• 10:06
  Speaker 1: Yeah, I'm gonna go with thirteen hundred.
• 10:08
  Speaker 2: Thirteen hundred. The actual payment was thirteen eighty seven. Gusty
• 10:14
  Speaker 2: gets round two. We've still got four properties to go,
• 10:19
  Speaker 2: all right.
• 10:20
  Speaker 1: We this one has been completely renovated completely twenty eighth
• 10:26
  Speaker 1: eighty eighth Street northeast. It is in the center point
• 10:29
  Speaker 1: areas in the Holiday Park neighborhood. Built in twenty fourteen.
• 10:33
  Speaker 1: I mean, what is there really to update in a
• 10:36
  Speaker 1: twenty fourteen home, But this one has been updated four bedrooms,
• 10:40
  Speaker 1: three baths, two and forty three square feet, does have
• 10:44
  Speaker 1: a one car garage, does have It's a brick home
• 10:49
  Speaker 1: on the front two seventy nine five, two seventy nine
• 10:54
  Speaker 1: to five stainless appliances. It's got a stylish tile backsplash. Uh.
• 11:00
  Speaker 1: And it's on almostzero point four of an acre, so
• 11:03
  Speaker 1: it's on a great lot. And this listening is courtesy
• 11:06
  Speaker 1: of Carla Delaberto. So Carla, congratulations on your new listing.
• 11:10
  Speaker 1: By the way, Chalkville Schools Clay Chalkman Schools.
• 11:13
  Speaker 2: So two seventy nine five, two seventy nine five. We're
• 11:17
  Speaker 2: gonna go five percent down and we're back to gusty.
• 11:21
  Speaker 1: Five percent down, okay, sir, m hmm, I'm gonna go with.
• 11:39
  Speaker 3: Let's go.
• 11:42
  Speaker 1: Sixteen ninety four, sixteen ninety four.
• 11:48
  Speaker 3: I'm thinking into the seventeens here, so like seventeen.
• 11:51
  Speaker 2: Twenty, seventeen twenty John, the actual payment was seventeen twenty.
• 11:55
  Speaker 3: Three whooa, let's go.
• 11:57
  Speaker 1: He's not down. We had at the same time it
• 12:00
  Speaker 1: was a good one. That was pretty good. Yeah, buddy out.
• 12:04
  Speaker 1: John's back bade.
• 12:06
  Speaker 2: One with three more properties.
• 12:07
  Speaker 1: All right, three oh seven Hunter Hills Circle in Chelsea.
• 12:10
  Speaker 1: It is in the Hunter Hills neighborhood. Almost a half
• 12:14
  Speaker 1: acre lot, built in nineteen ninety seven, three bedrooms, two
• 12:16
  Speaker 1: and a half bass uh sixteen hundred and eighty six
• 12:19
  Speaker 1: square feet. It's also got an unfinished Basement's got two
• 12:23
  Speaker 1: car garage, three hundred and twenty five thousand dollars. And
• 12:29
  Speaker 1: this one is also listed by Carlo Delaberto. So Carla
• 12:32
  Speaker 1: has been busy. Congratulations Carla on your new listing three
• 12:35
  Speaker 1: twenty five, three twenty five.
• 12:37
  Speaker 2: We're gonna stay with five percent down, John, five percent
• 12:40
  Speaker 2: down on three twenty five to you, I.
• 12:44
  Speaker 3: Am thinking probably how about.
• 12:50
  Speaker 4: Two thousand and twenty twenty twenty right, No, twenty twenty six.
• 12:57
  Speaker 3: It's a good year.
• 12:59
  Speaker 1: You said five percent down?
• 13:00
  Speaker 2: What it is? Three twenty five? Five percent down? John
• 13:03
  Speaker 2: said twenty twenty six. He said twenty twenty six, He
• 13:10
  Speaker 2: said twenty twenty six. You know I said this year, Yeah,
• 13:13
  Speaker 2: I'm gonna go twenty twenty five, twenty twenty five. The
• 13:16
  Speaker 2: actual payment was two thousand dollars. Even I thought somebody
• 13:20
  Speaker 2: might actually get it because it was exactly two thousand dollars.
• 13:26
  Speaker 1: You never know.
• 13:28
  Speaker 3: It's never an even number. I mean what it is.
• 13:31
  Speaker 2: It was just funny, all right.
• 13:33
  Speaker 1: Next new listening of the week is in the Stockton
• 13:35
  Speaker 1: neighborhood of Trustful forty eight oh eight. Bo run. I
• 13:39
  Speaker 1: wonder who Bo is, why he's running, and why he's running.
• 13:43
  Speaker 1: I wonder if it is Bo Jackson. Maybe not, who knows,
• 13:47
  Speaker 1: But this one was else by twenty. This was built
• 13:50
  Speaker 1: in twenty twenty by Signature Homes, three bedrooms, two baths,
• 13:53
  Speaker 1: fifteen hundred and thirty six square feet. It's got a
• 13:56
  Speaker 1: two cargo rage and three hundred and ninety five thousand
• 14:01
  Speaker 1: dollars three hundred and ninety five thousand dollars. This listening
• 14:03
  Speaker 1: is courtesy of John Michael Brannon. So, John Michael, congratulations
• 14:07
  Speaker 1: on your new listing.
• 14:08
  Speaker 2: All right, I'm gonna stay with the five percent down theme.
• 14:12
  Speaker 2: Five percent down and we're back to.
• 14:14
  Speaker 1: Gusty m Okay, I'm gonna go with I don't know,
• 14:30
  Speaker 1: that's not it.
• 14:31
  Speaker 3: It could be it.
• 14:33
  Speaker 2: They'll both had it right exactly at one point last round,
• 14:37
  Speaker 2: both two thousand. I'm gonna do stop talking. I'm gonna
• 14:44
  Speaker 2: go with twenty five hundred, twenty five hundred for Gusty
• 14:49
  Speaker 2: m gonna say twenty four. Okay, Well, the actual payment
• 14:52
  Speaker 2: was twenty four to thirty one. John gets around five.
• 14:56
  Speaker 2: It is three to two with one property to go.
• 14:58
  Speaker 2: Could we have a tie break? Please please please, I'll
• 15:01
  Speaker 2: love all right.
• 15:03
  Speaker 1: Next new listening is in the Balance Trey neighborhood of Pelham.
• 15:07
  Speaker 1: One sixteen mackel Pine Circle, built in twenty twenty five
• 15:12
  Speaker 1: point four, one of an acre, four bedrooms, three baths,
• 15:16
  Speaker 1: twenty five hundred and ninety square feet, and this one
• 15:20
  Speaker 1: they have added in a salt water pool, private end ground,
• 15:24
  Speaker 1: salt water salt water pool and an elevator. So lots
• 15:31
  Speaker 1: of custom things done to this home that was just
• 15:33
  Speaker 1: built last year six hundred and seventy five thousand dollars.
• 15:37
  Speaker 1: And this listing is courtesy of Kyle BEDGODSI, Kyle, congratulations
• 15:42
  Speaker 1: on your new listing.
• 15:43
  Speaker 2: All right, six seventy five. We're gonna go with ten
• 15:46
  Speaker 2: percent down to ten percent down to.
• 15:49
  Speaker 3: John, I have no idea what I'm doing on a
• 15:52
  Speaker 3: house this expensive.
• 15:53
  Speaker 4: So, uh, let's say four thousand dollars August.
• 16:03
  Speaker 3: He's got to go as higher or lower, and he's going.
• 16:05
  Speaker 1: To be right, four thousand one dollar.
• 16:10
  Speaker 2: The actual payment was thirty nine thirty six. We got
• 16:14
  Speaker 2: a time breaker.
• 16:15
  Speaker 3: Let me get my calculator out. How did that work out?
• 16:21
  Speaker 1: All right? Never know?
• 16:22
  Speaker 2: Now, that's why we play the guests. When we play
• 16:24
  Speaker 2: the game, it is three to three. So for the
• 16:27
  Speaker 2: tie breaker, we will stay with the same property, same
• 16:29
  Speaker 2: down payment, but we will go to a fifteen year
• 16:32
  Speaker 2: fixed monthly payment, same property, six seventy five, ten percent down,
• 16:38
  Speaker 2: fifteen year amortization. So monthly payment printlement is only.
• 16:43
  Speaker 3: That's going to be more. Who's who's going to be
• 16:44
  Speaker 3: first here?
• 16:45
  Speaker 2: Uh well, it's back to Gusty.
• 16:50
  Speaker 1: Fifteen year note, fifteen year note fifty four to seventeen.
• 16:59
  Speaker 1: I was going to ride at six thousand, it was
• 17:02
  Speaker 1: actually fifty three seventy two. Gusty gets the top breaker.
• 17:06
  Speaker 1: When's it in sudden death? Hit that bell right there? Yeah,
• 17:12
  Speaker 1: let's go.
• 17:12
  Speaker 2: Hell that was fun.
• 17:14
  Speaker 1: Apposed John, really good, really good.
• 17:17
  Speaker 2: Never gave up.
• 17:18
  Speaker 1: Maybe till the end, maybe next week, maybe.
• 17:23
  Speaker 3: I'm super excited.
• 17:24
  Speaker 1: Maybe Hey, Uh, we've I'm gonna skip our VP buyers
• 17:31
  Speaker 1: for this week. Just know that we've got a bunch
• 17:34
  Speaker 1: of people sitting on the sideline. So if you got
• 17:36
  Speaker 1: a home that you're considering selling, go to Gustygoulisgroup dot
• 17:39
  Speaker 1: com or caller text two oh five five four two
• 17:45
  Speaker 1: nineteen ninety six. Uh, and we'd be happy to chat
• 17:48
  Speaker 1: with you about your home, build a plan of action
• 17:51
  Speaker 1: around it. It might be one of our you know,
• 17:54
  Speaker 1: looking at our different options, taking it to the MLS,
• 17:57
  Speaker 1: working with our VP buyers, one of our offer programs.
• 18:01
  Speaker 1: It's a little bit of mix, So go to Gustygoulisgroup
• 18:04
  Speaker 1: dot com. Hey, guess what time it is. That's right,
• 18:10
  Speaker 1: it'stimonial time. I got two five star reviews to talk
• 18:15
  Speaker 1: about today. This one is from Diane. Diane says Kyle
• 18:20
  Speaker 1: Bedgood and his team did a fantastic job of helping
• 18:23
  Speaker 1: us to find our new home in Chelsea. They did
• 18:26
  Speaker 1: an excellent job in keeping all things on track for
• 18:28
  Speaker 1: a successful closing. Could not have done it without them.
• 18:32
  Speaker 1: None of this would have been possible without our agent Kyle.
• 18:35
  Speaker 1: From our first meeting, we felt an instant connection and
• 18:37
  Speaker 1: knew that he was tuned into what we were looking for.
• 18:40
  Speaker 1: He was accommodating and very welcoming. Not knowing the area,
• 18:44
  Speaker 1: we were very dependent on his knowledge and experience. I
• 18:46
  Speaker 1: can't think of a better agency to help with selling
• 18:49
  Speaker 1: or buying a home in the greater Birmingham area than
• 18:51
  Speaker 1: the Gustygoulist Group and especially Kyle and his team. Many
• 18:55
  Speaker 1: thanks so Diane, congratulations on your new home in Chelsea.
• 18:59
  Speaker 1: And Kyle congratulations.
• 19:01
  Speaker 2: On another five star review.
• 19:06
  Speaker 1: And last, but not least, Bianca says, Riley was the best.
• 19:11
  Speaker 1: He was so patient and helpful throughout this process. He
• 19:15
  Speaker 1: always kept us motivated and assured we would find the
• 19:18
  Speaker 1: perfect home for our family, and we did just that.
• 19:21
  Speaker 1: Thank you so much for everything, Riley Bianca, congratulations on
• 19:25
  Speaker 1: your new home. And Raleigh, congratulations on another five star review.
• 19:32
  Speaker 1: All right, I like them five star reviews. Oh yeah,
• 19:36
  Speaker 1: show All right, y'all, stay tuned. We're gonna give you
• 19:38
  Speaker 1: a little bit more of an update on what we're
• 19:40
  Speaker 1: seeing in the mortgage world, interest rates, maybe a little
• 19:42
  Speaker 1: bit more on the market right here on Bob burd
• 19:44
  Speaker 1: and Sold. Stay tuned, all right, welcome back to Bob
• 19:50
  Speaker 1: burn and Sold. My microphone just decided to have a
• 19:54
  Speaker 1: mind of its own. Uh, well, cool, I'll just hold
• 20:00
  Speaker 1: how about that.
• 20:02
  Speaker 2: It's like we've got Steve Harvey at the Miss Universe.
• 20:05
  Speaker 1: Gosh, what in the world just happened with this thing?
• 20:08
  Speaker 3: That's it's not gonna stay like that.
• 20:09
  Speaker 1: Okay, Well I'm gonna try. I'm gonna try. How about that?
• 20:13
  Speaker 2: All right? Like it?
• 20:14
  Speaker 1: So we were talking about in our last segment a
• 20:18
  Speaker 1: little bit about what we were seeing in the market.
• 20:20
  Speaker 1: We've seen a pickup. Yeah, we've seen more showings on
• 20:23
  Speaker 1: some of our listenings. Very excited about that, all right.
• 20:28
  Speaker 1: But one of the big things that does come into play,
• 20:31
  Speaker 1: and we talk about it each and every week, is
• 20:33
  Speaker 1: what is going on in the mortgage world? And why
• 20:36
  Speaker 1: not ask Brad Smith with Cross Country Mortgage since he's
• 20:40
  Speaker 1: right here for sure.
• 20:41
  Speaker 2: So we actually had a decent week this past week
• 20:45
  Speaker 2: on the mortgage world. Rates did come down a little bit,
• 20:49
  Speaker 2: but we got some technicals that were important. The PPI,
• 20:54
  Speaker 2: which is our Producer Price Index. It was estimated for
• 20:58
  Speaker 2: inflation to be it right at like fer point nine.
• 21:02
  Speaker 2: It came in at four point seven, So that was
• 21:04
  Speaker 2: huge for the market. Good. Yeah, So we came in
• 21:07
  Speaker 2: two tenths of a point below the estimated inflation reading
• 21:11
  Speaker 2: for PPI.
• 21:12
  Speaker 1: Uh.
• 21:13
  Speaker 2: But you know PPI and CPI those are your consumer
• 21:16
  Speaker 2: price in decks, your producer price index. So those two
• 21:19
  Speaker 2: are are our numbers that we look at obviously to
• 21:22
  Speaker 2: see where inflations go. And the big one that we
• 21:24
  Speaker 2: like to look at is the PC which is the
• 21:26
  Speaker 2: personal consumption expenditures. But the Fed is trying to get
• 21:30
  Speaker 2: the you know, so that they all kind of feed
• 21:31
  Speaker 2: into that. The goal is to have that inflation number
• 21:34
  Speaker 2: at two percent. Okay, so you're always going to have inflation.
• 21:38
  Speaker 2: Things are always going to start costing a little more. Sure,
• 21:41
  Speaker 2: you're trying to slow down how much the inflation is happening.
• 21:44
  Speaker 2: So what happened is what we've been too We've been
• 21:46
  Speaker 2: too elevated in our inflation, so it's been hurting the
• 21:50
  Speaker 2: bond stocks. Bonds recovered this past week, some stocks recovered
• 21:54
  Speaker 2: some this past week. Oil prices started coming back down
• 21:58
  Speaker 2: some more this past week. So the hope is that
• 22:02
  Speaker 2: those will start being what we were really looking at
• 22:05
  Speaker 2: and then we can start getting the bond market to follow.
• 22:07
  Speaker 2: So it should hopefully create this trend of Okay, we
• 22:11
  Speaker 2: had some the highest fuel prices we've had. We've had
• 22:13
  Speaker 2: all this other stuff going on this summer, and we
• 22:16
  Speaker 2: and even though that affected the estimates, it was still
• 22:19
  Speaker 2: lower than what they thought it was going to be.
• 22:22
  Speaker 2: And so you know, the headline was actually flat from
• 22:24
  Speaker 2: year over from month over month, it was lower from
• 22:28
  Speaker 2: last year's year over year month of July. So everything
• 22:31
  Speaker 2: showing that even with everything which we had, with all
• 22:33
  Speaker 2: the other stuff and cost and fuel and everything else,
• 22:35
  Speaker 2: that it was still slower than they expected it to be.
• 22:38
  Speaker 2: So that was all good for us. So we're hoping
• 22:40
  Speaker 2: that trend continues when we get CPI and CPE later,
• 22:43
  Speaker 2: I mean PC later, and then we'll you know, hopefully
• 22:46
  Speaker 2: that's going to continue to have rates come down and
• 22:48
  Speaker 2: maybe the FED will rethink where their target rate needs
• 22:51
  Speaker 2: to be at their next meeting. That's my team. Yeah,
• 22:55
  Speaker 2: all right, so progress progress man, words sound for progress?
• 23:01
  Speaker 2: You know, I feel like I feel like this is
• 23:04
  Speaker 2: kind of you know, we haven't had progress in a while,
• 23:07
  Speaker 2: I know, So, I mean, we're a three week low,
• 23:09
  Speaker 2: which is still we just shows how much higher we've been,
• 23:12
  Speaker 2: but we have hopefully we're on the back end of
• 23:16
  Speaker 2: this and can start trending back to where we were
• 23:18
  Speaker 2: first of the year.
• 23:19
  Speaker 1: Yeah, Well, now that people are back in town, I
• 23:22
  Speaker 1: feel like we're gonna have some more movement in the
• 23:24
  Speaker 1: real estate market. Obviously, if we can get rates down
• 23:27
  Speaker 1: just to hair a little bit more preferred under six percent.
• 23:31
  Speaker 1: I know that might take a minute, but if we
• 23:34
  Speaker 1: can get back there, yeah, my goodness. I mean, we're
• 23:36
  Speaker 1: gonna we're gonna see, we're gonna see a good bit
• 23:38
  Speaker 1: of movement. So anyways, thank you for joining us. As always,
• 23:42
  Speaker 1: as a reminder, Gustigoulisgroup dot com, Bradsmith Loans dot com,
• 23:47
  Speaker 1: our team has multiple options. We can take things to
• 23:50
  Speaker 1: the MLS, go to open market. We've got VIP buyers
• 23:54
  Speaker 1: on the sideline in case you don't want to take
• 23:55
  Speaker 1: it to market. And then we've got cash buyers myself
• 23:59
  Speaker 1: included and other investor partners that we may can buy
• 24:03
  Speaker 1: properties off market. So Gustygolisgroup dot com, go there. See
• 24:08
  Speaker 1: you next time. Thanks a bunch, please,