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Designing and Building Mid-Illinois: Realtor segment with 1st Choice Realty Pros: National Trends and Local Insights · Designing and Building the Midwest One Community at a Time

• 0:00
  SPEAKER_03: Welcome to Design and Building Mid-Ellinois, one home at a time with Big Dog Construction.
• 0:04
  SPEAKER_05: The podcast you didn't know you needed.
• 0:06
  SPEAKER_03: It's Chris Hartzuck and Caitlin Morgini.
• 0:09
  SPEAKER_03: Join us as we explore the stories, expertise, and projects shaping the future right here in Mid-Ellinois.
• 0:14
  SPEAKER_05: Whether you're planning to build, curious about the latest trends, or just love innovative ideas, we've got insights and inspiration coming your way.
• 0:22
  SPEAKER_05: And some laughs too.
• 0:23
  SPEAKER_03: Let's go.
• 0:24
  unknown: Big dog!
• 0:25
  SPEAKER_06: Hey there.
• 0:26
  SPEAKER_06: I'm Lisa Miller, managing broker and owner of First Choice Realty Pros.
• 0:31
  SPEAKER_06: We don't just help you find a house, we help you discover home.
• 0:35
  SPEAKER_06: My team and I are passionate about taking care of your needs, making the process smooth, and ensuring you get the personalized attention you deserve.
• 0:45
  SPEAKER_06: Ready for the next step?
• 0:47
  SPEAKER_06: Call us at 217-825-3999.
• 0:51
  SPEAKER_06: With First Choice Realty Pros, you've got a team that's got your back.
• 0:56
  SPEAKER_03: Hey, welcome back to Design a Building Mid-Illinois, One Home at a Time, our realtor segment with our amazing people at First Choice Realty Pros.
• 1:06
  SPEAKER_03: And that is Lisa Miller and Lydia Emmons, along with our lovely co-host, Caitlin.
• 1:12
  SPEAKER_05: Hi.
• 1:12
  SPEAKER_03: Everyone, good to say.
• 1:14
  SPEAKER_05: Hi.
• 1:14
  SPEAKER_05: Hello.
• 1:15
  SPEAKER_05: Yes.
• 1:16
  SPEAKER_05: Hi.
• 1:16
  SPEAKER_05: Very classy today.
• 1:18
  SPEAKER_03: All right.
• 1:18
  SPEAKER_03: Great to be here.
• 1:20
  SPEAKER_03: Really classy today.
• 1:23
  SPEAKER_03: Not keeping voice with the whole thing.
• 1:24
  SPEAKER_03: It's the heat, the brain, everything is like wax.
• 1:27
  SPEAKER_03: It's just hot.
• 1:29
  SPEAKER_03: So hot.
• 1:30
  SPEAKER_03: So hot and hot tub.
• 1:31
  SPEAKER_03: Hey, so today.
• 1:33
  SPEAKER_03: Hey, we're talking about this is the LMA market minute, national headlines versus your local market, and kind of everything in between, right?
• 1:40
  SPEAKER_03: Whatever fits in that box today, even though we like thinking outside the box.
• 1:44
  SPEAKER_06: We will go in.
• 1:45
  SPEAKER_03: I like kicking the box down, smashing the box, no box, right?
• 1:49
  SPEAKER_03: Right.
• 1:50
  SPEAKER_03: Well, hey, I want to give a quick shout out and congratulations to Lydia.
• 1:55
  SPEAKER_03: Woo! You had a closing, right?
• 1:58
  SPEAKER_03: Oh, like she's doing a little baby clap.
• 2:01
  SPEAKER_06: She had a closing yesterday.
• 2:02
  SPEAKER_06: Yep.
• 2:03
  SPEAKER_06: Eight.
• 2:05
  SPEAKER_03: Yeah.
• 2:05
  SPEAKER_03: So awesome.
• 2:06
  SPEAKER_06: Yeah, five this month.
• 2:07
  SPEAKER_06: Yeah.
• 2:08
  SPEAKER_03: So what's awesome is the real the segment that just dropped before.
• 2:12
  SPEAKER_03: We were talking about we need it yesterday.
• 2:14
  SPEAKER_06: It happened.
• 2:15
  SPEAKER_03: It happened with it.
• 2:16
  SPEAKER_03: It happened.
• 2:16
  SPEAKER_03: Yeah.
• 2:17
  SPEAKER_03: So that's awesome.
• 2:18
  SPEAKER_03: And it went through, and that's quick, easy, done.
• 2:21
  SPEAKER_03: Boom, closed.
• 2:22
  SPEAKER_03: So proud you pay day.
• 2:23
  SPEAKER_03: Right?
• 2:24
  SPEAKER_03: Let's go payday.
• 2:25
  SPEAKER_03: Sweet.
• 2:25
  SPEAKER_03: I love it.
• 2:26
  SPEAKER_03: And then you've got one tomorrow.
• 2:27
  SPEAKER_06: I was afraid that it was going to be a hard one.
• 2:28
  SPEAKER_06: And it wasn't probably my easiest one so far.
• 2:31
  SPEAKER_06: Wow.
• 2:31
  SPEAKER_06: Yeah.
• 2:32
  SPEAKER_05: First choice Realty Pros, kicking butt.
• 2:34
  SPEAKER_03: Drinking Columbia this weekend.
• 2:35
  SPEAKER_05: There we go.
• 2:37
  SPEAKER_05: Fourth of the day on me.
• 2:39
  SPEAKER_05: Lydia didn't make a couple drinks last weekend, didn't you?
• 2:41
  SPEAKER_05: Oh my God.
• 2:42
  SPEAKER_05: 626.
• 2:43
  SPEAKER_03: Well, that's right.
• 2:44
  SPEAKER_03: We had the 62626 celebration last week, which was phenomenal.
• 2:48
  SPEAKER_03: I think I saw someone in their little clear plastic.
• 2:50
  SPEAKER_04: I was in my poncho running drinks around.
• 2:53
  SPEAKER_04: I never even did see you.
• 2:55
  SPEAKER_03: It was white cowboy boots all over TV.
• 2:58
  SPEAKER_05: Your white cowgirl boots.
• 2:59
  SPEAKER_03: Yeah.
• 3:00
  SPEAKER_05: Those are my go-tos for concerts.
• 3:01
  SPEAKER_03: The go-to concerts.
• 3:03
  SPEAKER_03: Yeah.
• 3:03
  SPEAKER_03: So I saw you walked right past me.
• 3:04
  SPEAKER_03: I'm like, fork.
• 3:05
  SPEAKER_03: See ya.
• 3:06
  SPEAKER_03: I was in a talking to somebody anyway, so it was all good.
• 3:08
  SPEAKER_03: Anyway, we know snob out in public.
• 3:11
  SPEAKER_03: It's fine.
• 3:12
  SPEAKER_03: It's fine.
• 3:12
  SPEAKER_03: Well, hey, every day we hear headlines like the housing market is crashing or prices are soaring.
• 3:17
  SPEAKER_03: But do those headlines really apply here in central Illinois?
• 3:20
  SPEAKER_03: We're going to find out today, right?
• 3:22
  SPEAKER_03: We're going to separate the national market from what's happening right here in Illinois so you can be informed and make in rational decisions about your real estate choices, right?
• 3:31
  SPEAKER_07: Yeah.
• 3:31
  SPEAKER_03: Sweet.
• 3:31
  SPEAKER_03: So first thing we're going to talk about the national housing market.
• 3:35
  SPEAKER_03: So Lisa and Lydia, are home prices rising, falling, or stabilizing?
• 3:40
  SPEAKER_04: They're increasing.
• 3:42
  SPEAKER_04: Okay.
• 3:43
  SPEAKER_04: Not as much as they were.
• 3:44
  SPEAKER_03: What does that mean?
• 3:45
  SPEAKER_03: That they're increasing?
• 3:46
  SPEAKER_04: Slowly, gradually increasing, I would say.
• 3:49
  SPEAKER_04: The amount of homes or home prices rising.
• 3:52
  SPEAKER_04: I would say home prices are rising.
• 3:54
  SPEAKER_06: Yeah, I mean, I think it just depends on where you're at.
• 3:58
  SPEAKER_06: If your house is ready, then yeah, your price can be where it's at.
• 4:01
  SPEAKER_06: But if it's not, it is so technical right now.
• 4:06
  SPEAKER_06: Because if you are a seller and you're not ready, clean, painted curb appeal.
• 4:12
  SPEAKER_06: Curb appeal.
• 4:13
  SPEAKER_03: Yeah, the curb appeal we talk about, right?
• 4:15
  SPEAKER_03: First impression.
• 4:16
  SPEAKER_06: It is everything.
• 4:17
  SPEAKER_06: It is absolutely everything.
• 4:19
  SPEAKER_05: And so are there more people not getting their homes ready to sell?
• 4:24
  SPEAKER_05: Is there less people that don't?
• 4:26
  SPEAKER_04: I see a lot that are as is.
• 4:28
  SPEAKER_04: Yes.
• 4:28
  SPEAKER_04: People are wanting to sell as is they don't want to.
• 4:31
  SPEAKER_04: Yeah.
• 4:32
  SPEAKER_03: What's the reason behind that?
• 4:33
  SPEAKER_04: Yeah.
• 4:33
  SPEAKER_04: What do you think?
• 4:34
  SPEAKER_04: In my opinion, I think they're just ready to get out of there.
• 4:36
  SPEAKER_04: They're ready to go.
• 4:37
  SPEAKER_04: From what my experience with trading my sellers, yes.
• 4:40
  SPEAKER_04: They don't want to put in the work.
• 4:42
  SPEAKER_05: They'd rather put in the work at a new house.
• 4:44
  SPEAKER_04: Yes.
• 4:44
  SPEAKER_04: Yeah.
• 4:45
  SPEAKER_03: Interesting.
• 4:45
  SPEAKER_03: Even though they know they'll lose money.
• 4:47
  SPEAKER_04: Right.
• 4:47
  SPEAKER_03: Or stay on the market longer.
• 4:48
  SPEAKER_05: I mean, most of the time they're staying longer.
• 4:50
  SPEAKER_03: Yes, they're lost money.
• 4:52
  SPEAKER_03: Yeah.
• 4:52
  SPEAKER_03: Especially if they're dual if they're dual mortgages they're paying.
• 4:56
  SPEAKER_06: Everything that's saying.
• 4:57
  SPEAKER_06: So when you don't get your house ready and you say, I just want to sell it as is, what do you think that that's telling the buyer?
• 5:05
  SPEAKER_06: They walk in, the house is not.
• 5:08
  SPEAKER_06: They don't they didn't care about this house, so they didn't take care of it.
• 5:11
  SPEAKER_03: So they're worried about the quality of the house.
• 5:13
  SPEAKER_06: So the buyer walks in and what are they thinking?
• 5:16
  SPEAKER_06: They're thinking, yeah, they're not they didn't take care of the home.
• 5:19
  SPEAKER_06: Right.
• 5:20
  SPEAKER_06: So that starts in the buyer's mind, the price comes down.
• 5:24
  SPEAKER_06: Yeah.
• 5:24
  SPEAKER_06: You know, but if you walk in and it's pristine, it you have everything picked up, it's staged well, right?
• 5:31
  SPEAKER_06: It looks great.
• 5:32
  SPEAKER_06: Now it's all about perception, it does not bother them a bit.
• 5:37
  SPEAKER_06: And they could even offer more because it looks so nice.
• 5:42
  SPEAKER_05: Yes.
• 5:42
  SPEAKER_05: That's what I do.
• 5:43
  SPEAKER_03: If they want it now, right.
• 5:44
  SPEAKER_03: If they want it, they don't get a bit any more of something.
• 5:46
  SPEAKER_05: So sellers would realize their pricing would increase to sell their house if they get it ready.
• 5:51
  SPEAKER_05: Exactly.
• 5:52
  SPEAKER_05: So if it's ready, it is increasing, is what you were saying, Lydia.
• 5:55
  SPEAKER_05: Yeah.
• 5:56
  SPEAKER_05: Yeah.
• 5:56
  SPEAKER_05: Like how much?
• 5:57
  SPEAKER_05: Is there a certain percentage?
• 5:58
  SPEAKER_03: Well, it's really based on a lot of things, right?
• 6:00
  SPEAKER_06: Yeah, based on a ton.
• 6:02
  SPEAKER_06: But here's here's the price it correctly, too.
• 6:05
  SPEAKER_03: Right.
• 6:05
  SPEAKER_06: I went on uh a listing appointment and somebody else had already been there.
• 6:10
  SPEAKER_06: They told them a price that they thought that the house would go for.
• 6:14
  SPEAKER_07: Right.
• 6:14
  SPEAKER_06: And I could see what I could do.
• 6:16
  SPEAKER_06: I could see that I could do some light staging and I could make this a little better.
• 6:20
  SPEAKER_07: Right.
• 6:20
  SPEAKER_06: So I did, I told them what I thought.
• 6:23
  SPEAKER_06: The person wanted a little bit more, and and so I said, you know, we can try it and see what happens.
• 6:28
  SPEAKER_06: Anyway, we got it done.
• 6:30
  SPEAKER_06: We're getting ready to close on it, actually.
• 6:32
  SPEAKER_06: I staged it.
• 6:33
  SPEAKER_06: We had an offer come in and it appraised for right at that offer, and it was ten thousand dollars more than the other agent said.
• 6:42
  SPEAKER_06: Okay, yeah, wow.
• 6:44
  SPEAKER_06: That's a big amount.
• 6:45
  SPEAKER_06: It didn't look great, but when you add some flair to it and give it a facelift, a little bit of flair, it it does, it helps.
• 6:54
  SPEAKER_06: It does.
• 6:55
  SPEAKER_06: It really does.
• 6:55
  SPEAKER_06: I think so too.
• 6:56
  SPEAKER_03: Which that ten thousand dollars equates to an extra percentage going to first choice reality pros as the the listing agent.
• 7:03
  SPEAKER_06: Right.
• 7:04
  SPEAKER_03: And or the selling agent, both.
• 7:06
  SPEAKER_06: Which is which is great.
• 7:07
  SPEAKER_06: And this is why I say light staging, because I don't charge for that.
• 7:12
  SPEAKER_06: And I'm telling you, I work my brains out.
• 7:15
  SPEAKER_06: She does.
• 7:15
  SPEAKER_06: I'm one person and I'm lifting stuff in and out and putting it in, sweating, and especially when it's really, really hot.
• 7:21
  SPEAKER_06: Yes.
• 7:22
  SPEAKER_06: So all of that work gets done because I know that I can bring the money to the seller.
• 7:26
  SPEAKER_03: So you're staging prices higher.
• 7:29
  SPEAKER_06: So I can get so yes, do I make a little bit more?
• 7:31
  SPEAKER_06: Yep.
• 7:32
  SPEAKER_03: Absolutely.
• 7:32
  SPEAKER_03: And so does the seller.
• 7:34
  SPEAKER_06: But it's more important to me that that seller makes less.
• 7:37
  SPEAKER_05: But you're putting in more work than other people, so you should be making more, you know.
• 7:41
  SPEAKER_03: Right.
• 7:42
  SPEAKER_03: Yeah.
• 7:42
  SPEAKER_03: Yeah.
• 7:42
  SPEAKER_03: And so in this instance, you could almost say that here in Illinois, first choice reality pros helps get the pricing higher than possibly even national average.
• 7:53
  SPEAKER_06: Could be.
• 7:54
  SPEAKER_03: Yeah, depending on again, location and the value of the home and the quality of the home and so forth.
• 7:57
  SPEAKER_03: So yeah.
• 7:58
  SPEAKER_03: And that's kind of what we were talking about of what that national versus Illinois is.
• 8:01
  SPEAKER_03: Right.
• 8:02
  SPEAKER_03: So pricing.
• 8:02
  SPEAKER_03: Okay.
• 8:03
  SPEAKER_06: Right.
• 8:03
  SPEAKER_06: And so the strongest seller markets right now are like New Jersey and California.
• 8:08
  SPEAKER_06: So the nationals pulling from bigger areas, of course.
• 8:11
  SPEAKER_06: New York, Ohio, Illinois is in there because of Chicago.
• 8:15
  SPEAKER_06: Okay.
• 8:16
  SPEAKER_06: Wow.
• 8:18
  SPEAKER_06: And then Maryland, Virginia, Washington, and metropolitan area.
• 8:22
  SPEAKER_06: So those are still strong seller markets.
• 8:26
  SPEAKER_06: Okay.
• 8:27
  SPEAKER_06: And then it says in here, markets, they have cooled.
• 8:31
  SPEAKER_06: It's Florida, which is that's interesting.
• 8:34
  SPEAKER_03: Yeah.
• 8:35
  SPEAKER_06: That really shocks me.
• 8:36
  SPEAKER_03: Yeah.
• 8:36
  SPEAKER_06: Uh Texas.
• 8:37
  SPEAKER_03: Really?
• 8:38
  SPEAKER_03: Texas was the mass exodus state to go to.
• 8:40
  SPEAKER_03: Yeah.
• 8:40
  SPEAKER_06: She's from Texas and Arizona.
• 8:42
  SPEAKER_06: So it's just saying that it's slowed down some.
• 8:45
  SPEAKER_06: Okay.
• 8:45
  SPEAKER_06: It's not saying they're not moving.
• 8:47
  SPEAKER_06: Right.
• 8:47
  SPEAKER_06: It's just slowing down.
• 8:48
  SPEAKER_06: They're looking at all the numbers, and numbers change.
• 8:50
  SPEAKER_06: People will say, hey, give me a price on my house.
• 8:52
  SPEAKER_06: I'm not ready to sell till three months or six months down the road.
• 8:55
  SPEAKER_06: Right.
• 8:56
  SPEAKER_06: Well, call me in six months because the prices are going to go in six minutes.
• 8:59
  SPEAKER_06: It's a constant change.
• 9:00
  SPEAKER_06: Right.
• 9:01
  SPEAKER_06: I didn't realize that.
• 9:01
  SPEAKER_03: And you guys are staying on top of it.
• 9:03
  SPEAKER_03: And that's what's great about that, right?
• 9:04
  SPEAKER_03: Right.
• 9:04
  SPEAKER_03: So we're trying.
• 9:06
  SPEAKER_06: We're trying.
• 9:07
  SPEAKER_06: So instead of every home getting 10 offers right now, the buyers are being more picky.
• 9:12
  SPEAKER_07: Right.
• 9:13
  SPEAKER_06: They're looking at quality because what are they paying?
• 9:17
  SPEAKER_06: They're paying more interest.
• 9:18
  SPEAKER_06: Yeah.
• 9:19
  SPEAKER_03: Right.
• 9:19
  SPEAKER_03: Well, and speaking of interest, what's going on with mortgage interest rates right now?
• 9:22
  SPEAKER_03: What are they looking like?
• 9:24
  SPEAKER_04: Did you about in the like 6.5% is about mid-range right now?
• 9:29
  SPEAKER_03: 6.5.
• 9:29
  SPEAKER_04: And that's for the 30 year.
• 9:31
  SPEAKER_04: If you go 15 year, it goes into the fives, I think.
• 9:34
  SPEAKER_04: Drops a little bit.
• 9:34
  SPEAKER_04: Yeah, drops a little bit, not crazy.
• 9:36
  SPEAKER_06: And if your credit score is like 740 or above, and you're putting 20% down or more, and then you can get that down some.
• 9:44
  SPEAKER_06: Right.
• 9:45
  SPEAKER_06: So don't hear what we're saying and go, oh, you can get this.
• 9:49
  SPEAKER_06: Yeah.
• 9:50
  SPEAKER_06: Because it all depends on what you're putting down.
• 9:52
  SPEAKER_06: Right.
• 9:52
  SPEAKER_06: Because you can get better rates.
• 9:54
  SPEAKER_06: Yeah.
• 9:54
  SPEAKER_06: And shop around.
• 9:55
  SPEAKER_06: And you can, yeah.
• 9:56
  SPEAKER_06: Shop around.
• 9:57
  SPEAKER_06: I see a different thing.
• 9:57
  SPEAKER_03: I actually took a call yesterday from my mortgage company.
• 10:01
  SPEAKER_03: Like, hey, you've got a lot of equity in your home and we can refinance and all that and stuff right now.
• 10:05
  SPEAKER_03: I'm like, look, I'm locked in at 4% right now for the remainder of my loan.
• 10:08
  SPEAKER_03: I'm over halfway paid through my mortgage note.
• 10:11
  SPEAKER_03: No.
• 10:11
  SPEAKER_03: Yeah.
• 10:12
  SPEAKER_03: Thank you.
• 10:13
  SPEAKER_03: I'm not going to increase a couple points.
• 10:14
  SPEAKER_03: Have a nice day.
• 10:15
  SPEAKER_03: Yeah.
• 10:16
  SPEAKER_03: Just to pull equity.
• 10:17
  SPEAKER_03: No, I'm good.
• 10:17
  SPEAKER_03: Thank you, though.
• 10:18
  SPEAKER_06: So, what does that tell you that's happening with the banks?
• 10:22
  SPEAKER_06: They're making those phone calls to people, seeing if they can get you to refi to make more money for them.
• 10:27
  SPEAKER_06: To put more, put your car payment, put your credit cards.
• 10:31
  SPEAKER_06: Please don't do that.
• 10:32
  SPEAKER_03: Yeah, because then you're financing for 30 years your car and your credit cards.
• 10:36
  SPEAKER_03: Yeah.
• 10:36
  SPEAKER_06: And then you get ready to sell.
• 10:38
  SPEAKER_06: And now you're asking us to come up with a price that's going to help you pay all that debt off that has nothing to do with the house.
• 10:47
  SPEAKER_06: The appraiser's not going to go, oh, you had$10,000 debt on your credit card.
• 10:51
  SPEAKER_06: Let me see if I can pull that out of your house.
• 10:54
  SPEAKER_06: No, it's the house, it's the square footage, it's where it's at.
• 10:58
  SPEAKER_06: That's what's going to appraise.
• 11:00
  SPEAKER_03: So that's that's something to keep in mind, then is so if you have$740 credit or better and you put 20% or more down, you might be able to knock a point or so off of the current mid-sixes on an interest rate for a 30-year.
• 11:14
  SPEAKER_03: Yeah.
• 11:15
  SPEAKER_03: Or 15, it's in the fives.
• 11:16
  SPEAKER_03: Again, you could drop that down possibly into the fours if you are above credit and all that and down payments.
• 11:21
  SPEAKER_06: So that's good information.
• 11:22
  SPEAKER_06: Lenders will pay points, they'll pay towards those to pay that down for the year.
• 11:27
  SPEAKER_03: And you wouldn't have to have PMI then.
• 11:28
  SPEAKER_06: And then you oh yeah, that 20% PMI comes off.
• 11:32
  SPEAKER_03: Yeah.
• 11:33
  SPEAKER_06: Yeah.
• 11:33
  SPEAKER_06: That's that saves you a bundle.
• 11:35
  SPEAKER_06: But if you can't do that, that's okay.
• 11:38
  SPEAKER_06: Right.
• 11:39
  SPEAKER_03: It's exactly there's systems out there for everybody.
• 11:41
  SPEAKER_03: Yeah.
• 11:41
  SPEAKER_03: No, like yeah, like Brooke told us, there's systems out there for everybody.
• 11:44
  SPEAKER_03: Right.
• 11:44
  SPEAKER_03: So are buyers becoming more active right now?
• 11:47
  SPEAKER_04: Yeah.
• 11:48
  unknown: Yeah.
• 11:49
  SPEAKER_03: Or does that what does that mean?
• 11:50
  SPEAKER_03: That they're becoming more active.
• 11:51
  SPEAKER_03: How so are the buyers becoming more active?
• 11:53
  SPEAKER_03: Is it because of the time of the year?
• 11:55
  SPEAKER_06: It doesn't mean they're just kind of like this with the money.
• 11:57
  SPEAKER_03: No, I mean they're definitely moving.
• 12:02
  SPEAKER_04: I've had a lot of people who are looking at houses, but it's got to be perfect for them.
• 12:06
  SPEAKER_04: It's got to be the way they want it and it's got to be the right price because, like we said, pri houses are price so where a lot of times you'll find people looking for those fixer-uppers.
• 12:16
  SPEAKER_06: Yeah.
• 12:16
  SPEAKER_06: Right now we're in an area that they don't want that.
• 12:20
  SPEAKER_06: They want to walk in and be done.
• 12:22
  SPEAKER_07: Be done.
• 12:22
  SPEAKER_07: Yeah.
• 12:23
  SPEAKER_07: Right.
• 12:23
  SPEAKER_06: I think if you're hitting my age, okay, we're not going to say my age, but yeah.
• 12:28
  SPEAKER_06: Yeah.
• 12:28
  SPEAKER_06: My age is so if I'm buying a home, I've I've done done the work in my past home.
• 12:35
  SPEAKER_06: I'm looking for something that's like a vacation home every time.
• 12:38
  SPEAKER_06: I've already done that.
• 12:38
  SPEAKER_03: That was in my bucket list, which was to fix up a home and make it my own.
• 12:42
  SPEAKER_03: Now I'm ready to just move into a home that I don't want to do squat for.
• 12:45
  SPEAKER_03: Yeah.
• 12:45
  SPEAKER_03: Right.
• 12:45
  SPEAKER_06: And some people will be like, let that be on the next people.
• 12:48
  SPEAKER_06: Right.
• 12:49
  SPEAKER_06: No.
• 12:49
  SPEAKER_06: Let if it's been broke for five years.
• 12:52
  SPEAKER_03: Yeah.
• 12:52
  SPEAKER_06: Like let's make it right.
• 12:54
  SPEAKER_06: Yeah.
• 12:54
  SPEAKER_03: Well, is the inventory increasing?
• 12:56
  SPEAKER_06: Is that why buyers are getting more active or I think in it's increasing in McCoopin and Montgomery.
• 13:02
  SPEAKER_06: I think it is increasing terms.
• 13:04
  SPEAKER_06: A little bit.
• 13:05
  SPEAKER_06: Yeah.
• 13:05
  SPEAKER_04: I wouldn't say a crazy amount, but it's increasing.
• 13:08
  SPEAKER_04: And I I do think it's a big time of the year as well.
• 13:11
  SPEAKER_04: I think this is a good time for buyers to be moving spring, summer, getting into the next school year a lot.
• 13:16
  SPEAKER_04: Uh I also think that life is just continuing to that people know that things aren't going to change.
• 13:22
  SPEAKER_04: The the interest rate's not going to go back down to two.
• 13:24
  SPEAKER_04: It's not going to happen.
• 13:25
  SPEAKER_04: And people know they're disasters.
• 13:28
  SPEAKER_03: You know.
• 13:29
  SPEAKER_04: So they've accepted it.
• 13:30
  SPEAKER_04: Yes.
• 13:30
  SPEAKER_04: And they're like, okay, we've paid.
• 13:32
  SPEAKER_03: I mean, interest rates used to be 2.5 was our we're talking about interest rates used to be double digits.
• 13:38
  SPEAKER_06: Oh back in our day.
• 13:40
  SPEAKER_03: Yeah, exactly.
• 13:41
  SPEAKER_03: Interest rates were double digits.
• 13:43
  SPEAKER_03: Back in our day.
• 13:44
  SPEAKER_03: Yeah, 12 to 18%.
• 13:45
  SPEAKER_06: I think we bought ours and it was look at Caitlin's face.
• 13:48
  SPEAKER_06: Yeah, it was just died.
• 13:50
  SPEAKER_06: I know.
• 13:50
  SPEAKER_03: Yeah, seriously.
• 13:51
  SPEAKER_03: You got to think that, you know, I can remember my parents buying a home when we had to move from Illinois out to Indiana.
• 13:57
  SPEAKER_03: And I think it was like 14% interest rate they were paying on a home.
• 14:01
  SPEAKER_03: Yeah.
• 14:01
  SPEAKER_03: So think about the interest you pay on your monthly payment now of your mortgage.
• 14:06
  SPEAKER_03: How much is interest and how little is principal on the front end of that loan?
• 14:11
  SPEAKER_03: And so you get like I am now on the other half.
• 14:13
  SPEAKER_03: Now you're paying more principal than interest.
• 14:14
  SPEAKER_03: Right.
• 14:14
  SPEAKER_03: Because the bank wants their money up front.
• 14:16
  SPEAKER_05: Yeah.
• 14:16
  SPEAKER_05: Right.
• 14:16
  SPEAKER_05: Yeah.
• 14:16
  SPEAKER_05: Mine's definitely.
• 14:17
  SPEAKER_05: Does this make sense?
• 14:18
  SPEAKER_05: I feel like seeing it, it's like six point something.
• 14:21
  SPEAKER_05: Does it it can it have a point?
• 14:22
  SPEAKER_05: Oh, yeah.
• 14:23
  SPEAKER_05: Oh, okay.
• 14:24
  SPEAKER_05: Okay, yeah.
• 14:25
  SPEAKER_05: Yeah, I think that's a good thing.
• 14:25
  SPEAKER_03: Mine's actually 4.875 is what I'm saying.
• 14:27
  SPEAKER_05: I was gonna say, I think mine's like 6.2% from like seeing it every point nine nine nine.
• 14:32
  SPEAKER_05: Yeah.
• 14:32
  SPEAKER_03: 4.875 3219 br 4599.
• 14:35
  SPEAKER_05: And here I thought that's bad.
• 14:37
  SPEAKER_05: I, you know, I mean I'd die at 12%.
• 14:40
  SPEAKER_03: Oh my gosh.
• 14:40
  SPEAKER_03: And that was that was back in the late, late 70s, early.
• 14:44
  SPEAKER_05: How did they survive?
• 14:45
  SPEAKER_03: They just did.
• 14:46
  SPEAKER_03: Cost of living was less.
• 14:47
  SPEAKER_06: Yeah.
• 14:47
  SPEAKER_06: Oh, true, true, true, true.
• 14:48
  SPEAKER_03: You know, it was just yeah.
• 14:50
  SPEAKER_06: Well, and I feel like, okay, banks make their money off of what?
• 14:54
  SPEAKER_06: Interest.
• 14:55
  SPEAKER_03: Correct.
• 14:55
  SPEAKER_03: Okay, just loaning money.
• 14:57
  SPEAKER_06: And loaning money.
• 14:58
  SPEAKER_06: And we make interest off of our money in the bank by the bank getting that interest from home sales, car sales, all of those things.
• 15:09
  SPEAKER_06: Yeah.
• 15:09
  SPEAKER_06: So now how much interest is our money getting in the bank now?
• 15:14
  SPEAKER_06: And then you look at the housing and the cars and 1.9 or you know, and the and the CD rates.
• 15:19
  SPEAKER_03: CD rates, you used to get 12 to 18% or 20, 22% on CDs.
• 15:24
  SPEAKER_06: Yeah, leave it in there for five years to make something.
• 15:26
  SPEAKER_06: Five years CD.
• 15:27
  SPEAKER_06: The bank's like, we're gonna do that.
• 15:29
  SPEAKER_06: But it's not like that anymore.
• 15:30
  SPEAKER_03: You're lucky to get 1.9% of the game.
• 15:33
  SPEAKER_06: There's certain ones that are at the 20%.
• 15:35
  SPEAKER_06: Yeah, that'd be nice.
• 15:36
  SPEAKER_03: Well, it's in like our market, our market, because we have preferred stock where people can or the preferred stock is investment stock, right?
• 15:44
  SPEAKER_03: You're not no ownership in the in it at all, but you get paid 5% on the money you invest.
• 15:49
  SPEAKER_03: On the money.
• 15:53
  SPEAKER_03: Because we had to try to compete with CDs out there.
• 15:56
  SPEAKER_05: Right.
• 15:56
  SPEAKER_03: And before when we started this venture, it was like 1.9%.
• 16:00
  SPEAKER_03: You're in on CD.
• 16:01
  SPEAKER_03: We're like, we got to compete with that or be better.
• 16:03
  SPEAKER_03: So yeah, interest rates and all that crazy.
• 16:06
  SPEAKER_05: It is, it is crazy.
• 16:07
  SPEAKER_05: I was just gonna say that.
• 16:08
  SPEAKER_06: So many people today, younger people, they don't realize what all this entails when a 2.2 and the 1.5 you know percent.
• 16:19
  SPEAKER_06: Yeah, everybody was getting, I can get more house for my money.
• 16:24
  SPEAKER_06: Yes, you can.
• 16:26
  SPEAKER_06: Yes, you can.
• 16:27
  SPEAKER_06: But look where we're at today.
• 16:29
  SPEAKER_07: Right.
• 16:29
  SPEAKER_06: And so prices of the homes are high.
• 16:32
  SPEAKER_06: Interest rate is higher than it was three.
• 16:36
  SPEAKER_03: But lower than it was 30, 40 years ago.
• 16:38
  SPEAKER_06: Yes.
• 16:39
  SPEAKER_06: So when people come to me and they say, Oh man, that interest rate, and I'm like, it's you know what, it's normal.
• 16:45
  SPEAKER_06: It is just to kind of keep yeah, yeah, yeah.
• 16:49
  SPEAKER_03: Sixes are about normal.
• 16:51
  SPEAKER_06: A medium number, okay?
• 16:52
  SPEAKER_06: Because if it was 12 to 15, because it was in the sixes before the bubble, yeah.
• 16:58
  SPEAKER_05: Yes, yes.
• 16:59
  SPEAKER_05: But I I feel like when you were talking about young people, and I just wanted to go back a little bit, like them wanting young people.
• 17:06
  SPEAKER_05: Well, well, always the young one, but they have no vision when they walk into a home, a fixer-upper home, or anything.
• 17:13
  SPEAKER_05: They they cannot foresee what it could even look like.
• 17:16
  SPEAKER_05: But I feel like you, with your staging, can give them that idea.
• 17:20
  SPEAKER_05: Right.
• 17:20
  SPEAKER_05: So I know I've been thinking on that.
• 17:24
  SPEAKER_06: Oh, it's always the same thing.
• 17:26
  SPEAKER_06: I am just trying to give them an idea of what it could be.
• 17:31
  SPEAKER_06: Right.
• 17:31
  SPEAKER_06: And they could do whatever they want, but this is look at how cute it is now.
• 17:36
  SPEAKER_06: Right.
• 17:36
  SPEAKER_06: Look what you can do.
• 17:37
  SPEAKER_05: Yes.
• 17:38
  SPEAKER_05: So and young people need people like you, like for that, for the the rates.
• 17:42
  SPEAKER_05: I'm sorry.
• 17:43
  SPEAKER_05: I don't, I'm I'm still learning about the rates, guys.
• 17:45
  SPEAKER_05: I'm almost 38.
• 17:46
  SPEAKER_05: Okay, so I learn a lot.
• 17:47
  SPEAKER_05: How old?
• 17:48
  SPEAKER_05: Almost 38.
• 17:49
  SPEAKER_05: Can you believe it?
• 17:50
  SPEAKER_05: I know I don't look it.
• 17:51
  SPEAKER_03: Sorry, I think that's the first time we let our listeners know that Caitlin is 38.
• 17:55
  SPEAKER_05: Oh, oh my God, that's right.
• 17:57
  SPEAKER_03: 38.
• 17:57
  SPEAKER_05: But I really value that as you guys talking.
• 18:00
  SPEAKER_06: I know.
• 18:01
  SPEAKER_06: I hope.
• 18:02
  SPEAKER_06: I hope people will value what we are saying because we're not just putting this information out there for us.
• 18:09
  SPEAKER_06: We already know it.
• 18:10
  SPEAKER_06: Right.
• 18:10
  SPEAKER_06: Right.
• 18:11
  SPEAKER_05: We're doing it to help educate.
• 18:13
  SPEAKER_07: And it is helpful.
• 18:14
  SPEAKER_05: And I like that you said that they've they've accepted the interest rates, though, because it's kind of like gas.
• 18:18
  SPEAKER_05: Like, listen, dudes, like it sucks, but you gotta get somewhere.
• 18:21
  SPEAKER_03: You gotta put gas in the gas.
• 18:22
  SPEAKER_03: You gotta pay your mortgage.
• 18:23
  SPEAKER_06: Like, so because we talked about before marry the house, date the rate.
• 18:28
  SPEAKER_06: Oh, yeah, the house, date the rate.
• 18:30
  SPEAKER_06: So fall in love with the house, buy the house, because it'll be gone by the time the interest rate does come.
• 18:36
  SPEAKER_06: Yeah.
• 18:36
  SPEAKER_03: Are you seeing a lot of arms still adjustable rate mortgages or not?
• 18:41
  SPEAKER_06: No, I would not suggest that.
• 18:42
  SPEAKER_03: I was gonna say, I just now what's that mean?
• 18:45
  SPEAKER_03: So an adjustable rate mortgage is that means every three years, typically three years, your mortgage gets redone to the current interest rate.
• 18:54
  SPEAKER_03: And sometimes, depending on if you're if you're extended out on notes and stuff, a bank may feel more comfortable running the risk of loaning money by going, okay, we're gonna let you be at the current rate.
• 19:05
  SPEAKER_03: They typically would do an arm if they know those rates are ticking up because that means the life of that loan, they're gonna make more money on it.
• 19:11
  SPEAKER_03: Right.
• 19:12
  SPEAKER_03: So our showroom is actually on the arm and just got redone in January.
• 19:15
  SPEAKER_03: So it went from three years ago to, I don't know, what more it was, five something now to six and a half.
• 19:21
  SPEAKER_03: Uh actually, no, because it's commercial property, it was seven something.
• 19:23
  SPEAKER_03: Yeah.
• 19:24
  SPEAKER_03: So that we're paying for the city.
• 19:25
  SPEAKER_06: People like to know what their rate is and that it's locket.
• 19:28
  SPEAKER_06: Oh, yeah.
• 19:28
  SPEAKER_03: And that's the thing, because then they they budget then they know every month their payment is this.
• 19:32
  SPEAKER_03: The only thing that may fluctuate would be insurance and taxes.
• 19:35
  SPEAKER_05: The property tax.
• 19:36
  SPEAKER_05: Yeah.
• 19:36
  SPEAKER_06: Yeah.
• 19:37
  SPEAKER_03: Yeah.
• 19:37
  SPEAKER_06: You asked that question, what what may be keeping buyers from buying?
• 19:42
  SPEAKER_06: It's the taxes.
• 19:43
  SPEAKER_06: You know, they find the home and the taxes are six or ten or twelve thousand dollars.
• 19:51
  SPEAKER_06: You know, eight, eight thousand dollars, whatever.
• 19:54
  SPEAKER_06: Right.
• 19:54
  SPEAKER_06: And they're going, okay, now I have to add that on.
• 19:56
  SPEAKER_06: Well, divide that by twelve and add that to your already mortgage.
• 20:01
  SPEAKER_06: And now you've just doubled your mortgage payment by the taxes.
• 20:06
  SPEAKER_06: And then they say the taxes are terrible.
• 20:08
  SPEAKER_06: We can't do that.
• 20:09
  SPEAKER_06: We can't do that.
• 20:10
  SPEAKER_06: Right.
• 20:10
  SPEAKER_06: So that's what's hard in Illinois.
• 20:13
  SPEAKER_03: Right.
• 20:13
  SPEAKER_03: Well, I think that too.
• 20:14
  SPEAKER_05: That's what stopped me from buying.
• 20:16
  SPEAKER_03: So everyone knows, though, where the taxes are supposed to go, right?
• 20:19
  SPEAKER_03: The property taxes are supposed to go into infrastructures, which is your sewers, your streets, your waters, your all of that, right?
• 20:26
  SPEAKER_03: It's supposed to go into also pay for your municipality, your public offices and things of that.
• 20:31
  SPEAKER_03: I understand that.
• 20:32
  SPEAKER_03: Yeah.
• 20:32
  SPEAKER_03: Yeah, your schools, exactly.
• 20:34
  SPEAKER_03: No problem.
• 20:34
  SPEAKER_03: Yeah, no problem.
• 20:35
  SPEAKER_03: Yeah.
• 20:35
  SPEAKER_03: And and so, but what people don't understand is when you have those politicians or the elected officials that are in there going, wow, the roads are getting to crap right now.
• 20:44
  SPEAKER_03: We better raise property taxes to be able to have this money come in so that by this year and down the road, we'll have this money to be able to repair these roads.
• 20:52
  SPEAKER_03: They have to think ahead.
• 20:53
  SPEAKER_03: And so, which means they need to start collecting those taxes now.
• 20:56
  SPEAKER_06: But and that's why your$400,000.
• 20:59
  SPEAKER_06: I'm glad you said$70,000,$600,000 homes and up.
• 21:02
  SPEAKER_03: Right.
• 21:03
  SPEAKER_06: They sit a little longer because people have to swallow that.
• 21:07
  SPEAKER_05: Right, like the your one out at the country club.
• 21:09
  SPEAKER_05: Yeah.
• 21:10
  SPEAKER_05: That was probably, yeah.
• 21:11
  SPEAKER_03: Well, we're sitting in one here.
• 21:12
  SPEAKER_03: Oh, you're talking about taxes are pretty happy.
• 21:13
  SPEAKER_05: Oh, oh yeah.
• 21:14
  SPEAKER_05: I figure oh yeah, duh.
• 21:16
  SPEAKER_03: Yes, especially the location acres, and a half acres in city limits.
• 21:19
  SPEAKER_06: Yeah, yeah.
• 21:20
  SPEAKER_03: Yeah.
• 21:20
  SPEAKER_06: Reassess every seven years.
• 21:22
  SPEAKER_03: But they're doing reassessments.
• 21:23
  SPEAKER_03: Now, I was actually told this past weekend, um, I was in Greenfield at the fireworks district that they're now doing assessors assessments via satellite.
• 21:32
  SPEAKER_06: Really?
• 21:33
  SPEAKER_03: Yeah.
• 21:33
  SPEAKER_03: They're not doing they're not doing boots on the ground, they're doing it via satellite.
• 21:36
  SPEAKER_03: And if the roof line changes, they're like, they added square footage to the home and then they add based on that.
• 21:42
  SPEAKER_06: I would like to do that.
• 21:44
  SPEAKER_03: Then they use they used sell value that now updates the records.
• 21:48
  SPEAKER_03: They do that.
• 21:48
  SPEAKER_03: But if you have a home that's been there twenty years long enough, but in the same hands, same ownership twenty years, they will assess based on oh, did they do an addition or not?
• 21:56
  SPEAKER_05: Okay.
• 21:57
  SPEAKER_03: That's what I mean.
• 21:57
  SPEAKER_03: They do have square footage as you have to pay and someone to go.
• 22:00
  SPEAKER_03: out to the groundwork like they used to.
• 22:02
  SPEAKER_03: They used to hire college students in the summer to go out and canvas, take pictures, measurements and stuff.
• 22:08
  SPEAKER_03: Yeah.
• 22:09
  SPEAKER_03: If you hump money, you could tell them to no, if you find them on your property, you can tell them moving on.
• 22:15
  SPEAKER_06: Yeah, because they can't they can't come in.
• 22:16
  SPEAKER_06: They can't come in.
• 22:17
  SPEAKER_03: They're not supposed to look in in the windows, but they were told to look in the windows, take pictures in the windows and stuff.
• 22:21
  SPEAKER_03: So they're going to yeah that's how that's how the the assessors would do it.
• 22:26
  SPEAKER_05: In the what?
• 22:27
  SPEAKER_03: Well I know I know I'm going to do one story and then we'll we'll move on because I'm I'll I'll get winded but I know specifically of an an old timer assessor in the Green County area who was a neighbor in the rural area and went hey that's a great looking deck you built there.
• 22:43
  SPEAKER_03: Oh my gosh.
• 22:44
  SPEAKER_03: Hey it's all the hot out here can we go in and get it get something to drink went in the house.
• 22:48
  SPEAKER_03: Wow that's a that's a nice kitchen.
• 22:50
  SPEAKER_03: I didn't know you had redone that kitchen and he was assessing while he was in there and when the owner realized what he was doing he says get your out of here and his taxes went up there was a house in it looked this is shady man it was terrible on the outside inside Christine.
• 23:06
  SPEAKER_06: Yes oh yeah and and I live in that it was it was just my house grown up because it they they just go buy it and it was assessed very very low.
• 23:15
  SPEAKER_03: You know I left my outside of my home purposely siding missing soffit missing and stuff.
• 23:20
  SPEAKER_06: But you know but the inside I've got that can always change they can always change the rules yes exactly it changes.
• 23:26
  SPEAKER_03: But you know what?
• 23:26
  SPEAKER_06: Hey I'm this is all stuff did you know that I didn't yeah what I'm learning too about it right now.
• 23:31
  SPEAKER_06: The outside of the home inside yeah yeah assessors are not to come in there to assess the offer T.
• 23:37
  SPEAKER_03: That's why a lot of people shifted to building pole barn homes because the outside it's a pole barn but the inside it's a Taj Mahal.
• 23:45
  SPEAKER_06: Yeah they are not that one out that's what I'm saying.
• 23:47
  SPEAKER_06: So I think there's going to be some changes on those pool pole barns coming up.
• 23:51
  SPEAKER_06: I wonder since they're a pole barn that's not a pole barn.
• 23:55
  SPEAKER_03: Well hey yeah hey in the interest of time then questions I'm hearing every day right questions should I buy now or wait based on the market should I buy now or should I wait?
• 24:04
  SPEAKER_04: Never wait because you don't know what's going to change.
• 24:07
  SPEAKER_04: Anything can change in 10 minutes or in five days or in five hours.
• 24:11
  SPEAKER_04: It is Illinois you don't want to wait if it is the house that you're in love with.
• 24:16
  SPEAKER_06: Yep.
• 24:17
  SPEAKER_06: Make sure that it has everything that you want and then go for it.
• 24:20
  SPEAKER_06: And then watch the rates.
• 24:22
  SPEAKER_06: Yeah and when they drop then refi.
• 24:25
  SPEAKER_06: So I think you'll be okay if you if you do it that way.
• 24:28
  SPEAKER_03: Okay.
• 24:29
  SPEAKER_03: Is it still a seller's market?
• 24:30
  SPEAKER_06: I think it's kind of evened out it's it's because of the low inventory and you know it's it's crazy because it should be a seller's market.
• 24:40
  SPEAKER_06: Right.
• 24:40
  SPEAKER_06: Yeah but but yet buyers are the boss.
• 24:43
  SPEAKER_06: Yeah.
• 24:43
  SPEAKER_06: True what are they going to do if they're not buying if they're not buying right that house is not it.
• 24:48
  SPEAKER_06: That house is not it we go to five houses they're not it then it's really the buyer's choice yeah market.
• 24:55
  SPEAKER_06: I think so too.
• 24:56
  SPEAKER_06: Buyer's choice market.
• 24:56
  SPEAKER_06: Yeah no coin terms yeah yeah so we kind of touched on this a minute ago about a phone call receipt but should someone refinance right now only if the if it helps them only if it helps dolls in what way if the interest rate drops and they're and they're marry the house dating there it is she's got it yeah because otherwise if you're just if you're going to add stuff to it that doesn't have anything to do with your house but you're calling it a mortgage payment yeah then you have done the wrong thing.
• 25:29
  SPEAKER_03: You've really gotcha yeah but if the rates fall in the future at what point would you refinance how many points do you think someone should seriously look at half a point.
• 25:39
  SPEAKER_06: It just depends on your house.
• 25:40
  SPEAKER_03: Half a point but doesn't it cost to refi though?
• 25:43
  SPEAKER_06: Talk to your lenders because some of them have a one time where you can refi some of them out there have that some of them charge.
• 25:53
  SPEAKER_06: So otherwise you'll have all your closing costs again you'll have all of those things which could be a couple grand.
• 25:57
  SPEAKER_06: Yeah and if you take that across the 12 months or the life of the loan and the half point you're dropping you're like it's a wash then why go through the house then why go through the so do the number yeah it just depends because every house is different yeah and every dollar is different.
• 26:13
  SPEAKER_06: So it's going to be different.
• 26:15
  SPEAKER_06: It's going to be a different amount.
• 26:16
  SPEAKER_03: So well I appreciate that.
• 26:18
  SPEAKER_03: So should I fix my home before I sell it?
• 26:22
  SPEAKER_04: You can get paid back for it.
• 26:23
  SPEAKER_04: Depends what you do.
• 26:24
  SPEAKER_04: You want to make sure it adds value to your home for the next one coming in okay that they're going to appreciate it.
• 26:30
  SPEAKER_04: You want to fix the things that the buyers are going to want fixed.
• 26:34
  SPEAKER_04: If the handrail on the front porch is wiggling when you're walking up you're like oh crap.
• 26:39
  SPEAKER_04: You don't want to change your bedroom color from brown to white just because they're going to come in and change it to blue.
• 26:46
  SPEAKER_04: To blue.
• 26:46
  SPEAKER_04: Yes you want to change things that matter in the home that are going to affect the buyer and things you know they're going to ask for like daily life things like life like appliances.
• 26:58
  SPEAKER_06: If you have a garbage disposal and it doesn't work and you and then you have the switch there either remove it all and you don't have a garbage disposal 200 bucks and let's fix it.
• 27:07
  SPEAKER_03: Let's fix it.
• 27:08
  SPEAKER_03: Yeah yeah yeah yeah small maintenance you could put it'll go a long way too maybe twelve hundred dollars in small maintenance so don't do a full kitchen remodel before you sell the home even though you would get some money back but it would have to be a specific buyer that would want what you design for the bathrooms.
• 27:25
  SPEAKER_06: Yeah don't spend$40,000 thinking you're going to get$40,000.
• 27:28
  SPEAKER_06: You do not get dollar for dollar.
• 27:30
  SPEAKER_06: I put a$10,000 floor in I want$10,000 extra on my home.
• 27:34
  SPEAKER_03: Doesn't work with that right but if you put$10,000 floor in now and you sell it five years from now that$10,000 floor does help with that.
• 27:42
  SPEAKER_03: Yes.
• 27:42
  SPEAKER_03: But don't do it to make an investment in your home thinking you'll get an initial return on that investment.
• 27:47
  SPEAKER_03: Right away when you sell it.
• 27:49
  SPEAKER_06: Yeah you you're not going to get that not at all.
• 27:51
  SPEAKER_06: I I appreciate paint and your landscaping make sure it looks good.
• 27:55
  SPEAKER_06: You know sometimes you you see some certain pictures out there and you're like what were they thinking?
• 28:00
  SPEAKER_05: Because I know and here's one little thing that is weird to me like you make sure your toilets are nice and clean.
• 28:08
  SPEAKER_06: Yeah toilets we get we get a new toilet every time we move on new toilet exactly what to clean because people don't really realize yeah yeah they don't really realize what do I need to clean yeah and because I've been doing it so long and I can Mr clean my dad was Mr Clean so I look at things behind the refrigerator all of yeah so we'll go through that on the dust things but yes there's a baseboards the baseboards all of that oh my gosh I love it yeah I love it.
• 28:37
  SPEAKER_03: So hey one final question to wrap up on today are investors still buying yeah they are but they want it at a low low dollar yeah investors are out there they're looking to well they're looking for what?
• 28:50
  SPEAKER_00: To invest.
• 28:51
  SPEAKER_06: Yeah well and to make money correct yeah for the return on investment we want a return on investment that's a big thing right and if they can't have that and we talk about the prices of everything being higher it's harder for them to get that.
• 29:04
  SPEAKER_03: So multifamily would that probably be the best for investors right now versus individual doing multiple doors as they call it in the industry right how many doors do you own?
• 29:14
  SPEAKER_03: Yeah right and the multifamilies you will get a bigger return on investment because it's on one property for multiple rental income income.
• 29:22
  SPEAKER_06: Absolutely because we get called just about well I get called every day do you have any rentals?
• 29:27
  SPEAKER_06: Do you have any rentals?
• 29:28
  SPEAKER_06: No well what about the house that you have on the market well no they need to sell so they can buy so they're not going to rent but do you know of any I think there that is an open for right area.
• 29:40
  SPEAKER_06: Yeah I think that's a big thing.
• 29:41
  SPEAKER_06: You can make a lot of money doing that.
• 29:43
  SPEAKER_05: Oh yeah buy a building yeah get those doors in yeah divide it up and make so they buy a property and then they rent it out to make the money right yeah yeah yeah so that's why they want in yeah they want in at the lowest dollar material because it's going to take years to get that break even okay and go from there to get the return on that investment.
• 30:03
  SPEAKER_06: They're going to put up walls they're going to put in bathrooms they're going to put in all the things and divide it into maybe five apartments or 10 apartments.
• 30:10
  SPEAKER_06: Yeah.
• 30:11
  SPEAKER_03: Well you also have so I'll pull bring up Grant Cardone because Grant Cardone is a real estate mogul.
• 30:16
  SPEAKER_03: Oh I was thinking of him when she's saying this he specifically his Cardone capital will actually go out and look for multifamily homes they they look for multi-door they may be 300 door units right like big condo association stuff.
• 30:29
  SPEAKER_03: And so when he he comes in and assesses the value of them and then goes look if we current rent base is this if we add a little bit a few more amenities or dress up the landscaping or something like that, raise the base price of rent by X percent times 300 doors now that property is now in a better cash flow situation coming in.
• 30:49
  SPEAKER_03: And that's what investors are looking for truly right whether it's one door two fourplex and on up.
• 30:56
  SPEAKER_06: It's more there's more detail into investing than just a flipper.
• 31:01
  SPEAKER_03: Correct.
• 31:02
  SPEAKER_03: Yeah your flippers are really I find her for your your DIYers oh they're like let's give it a shot I hear you make a lot of money too oh yeah I can flip this house and I always say yeah you can flip it 20 to 30 Piggy before we do wrap up here I want to hear Lisa with the market updates.
• 31:17
  SPEAKER_04: Market updates average days on market 49 to 52.
• 31:22
  SPEAKER_06: Okay except 18 for Lydia's yeah except for 18 she brought the average down she did they haven't got those numbers because it just happened sure sure so those are in so um McCupin County average median price 1640.
• 31:35
  SPEAKER_06: See the last time we did this it was 145.
• 31:37
  SPEAKER_06: Yeah yeah so it's going up so it's going up back to what Lydia was saying prices are going to know Montgomery County went down a little bit it's like in the 100 to 150 really yeah so it went down and this is what the national all those things do okay Madison County is still in the 244s and Jersey County 225 to 250 commuters.
• 31:58
  SPEAKER_06: Okay.
• 31:59
  SPEAKER_03: Well well yeah but you're okay you've got your Edwardsville in Madison County you've got your Grafton Godfrey in well graft yeah that brings up that area so those are your bluffs and those homes which help bring those average price up and then we've already talked about affordability compared with neighboring states.
• 32:18
  SPEAKER_03: Yep it's our it's our taxes here it's the taxes yeah I totally understand any any final parting words with national or local markets and all that and I appreciate you giving us our local market yes it does it really does.
• 32:32
  SPEAKER_03: We should do that monthly or at least quarterly I think so too monthly at least because it's it's let's make that happen yep yeah perfect I love it well hey the housing market isn't a one size fits all national news provides context but your local market determines what your home is worth and how quickly it may sell.
• 32:50
  SPEAKER_03: If you're thinking about buying or selling let's have a conversation about your specific situation with the pros at First Choice Realty Pros, right?
• 32:58
  SPEAKER_03: Get a hold of them at 217 825399.
• 33:03
  SPEAKER_03: Find them on that interweb at firstchoicerealtypros.com that's the number one S T choicerealtypros dot com.
• 33:10
  SPEAKER_03: Did I do it today?
• 33:11
  SPEAKER_05: Pew I mean 10 10 right there.
• 33:14
  SPEAKER_03: I didn't even have to read it right 10 X didn't have to say that no Christmas he's he's full of life full of life well hey if you enjoyed our realtor segment today on design building mid Illinois one home at a time make sure you follow like share listen whatever you want to do you'll find us on all your favorite podcast streaming softwares apps whatever you want to do out there to find us in the interweb.
• 33:38
  SPEAKER_03: In the interweb.
• 33:39
  SPEAKER_00: Yeah and until next time bye in the military there's no such thing as good enough you either do the job the right way or you don't do it at all.
• 33:47
  SPEAKER_00: I'm Blake Middleton of Elite Roofing Professionals and Exteriors.
• 33:51
  SPEAKER_00: I'm a veteran and I brought the same mission first mindset back to Illinois.
• 33:55
  SPEAKER_00: While others talk about the way it's always been done my team focuses on the technical precision of how a roof should be built we use the best materials the best technology and a level of communication you won't find anywhere else.
• 34:08
  SPEAKER_00: Your home isn't just a job it's a commitment.
• 34:11
  SPEAKER_02: Elite roofing high standards zero compromise clear communication give us a call today's episode of Designing and Building Mid Illinois one home at a time with Big Dog Constructor.
• 34:53
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• 34:58
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• 35:12
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• 35:19
  SPEAKER_01: Thanks for listening