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America at War? What does that mean for home prices? · Bought Borrowed and Sold

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  Speaker 1: All right, welcome to Bob Bart and Soul. Thanks so
• 0:02
  Speaker 1: much for joining us. We've got hanging out in the studio.
• 0:05
  Speaker 1: Brad Smith with Cross Country Mortgage. What's up, Brad? How
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  Speaker 1: are you?
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  Speaker 2: Man? I am fantastic good. How about you?
• 0:13
  Speaker 1: I'm good. I'm good. I've got I've got a little
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  Speaker 1: congestion going on, so trying to trying to get through
• 0:21
  Speaker 1: with all the allergies and the pallen and everything in
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  Speaker 1: the air, and it's getting me this year. So hopefully,
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  Speaker 1: hopefully it'll bypass pretty soon.
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  Speaker 2: So uh, also a tailtale sign that it's that it's
• 0:35
  Speaker 2: baseball season. We're outside. I mean between being outside already
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  Speaker 2: what we do running around and it is being out
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  Speaker 2: and then being on a field for you know, two
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  Speaker 2: hours a night a few times a week. Yeah, it
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  Speaker 2: just it magnifies it.
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  Speaker 1: I feel like I need like a mask or like
• 0:52
  Speaker 1: some sort of like breathing.
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  Speaker 2: Uh, well, you can wear a mask. Nobody would flinch.
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  Speaker 1: Yeah, yeah, telling you so. Anyways, baseball has been fun.
• 1:01
  Speaker 1: It's it's kicked off. Max's team is crushing it. Trips
• 1:06
  Speaker 1: team not so much.
• 1:07
  Speaker 2: Uh, it's early.
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  Speaker 1: It's it is early in the season, so that we
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  Speaker 1: are spending a good bit of our time at the
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  Speaker 1: ball fields. So yes, if if you're not seeing me
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  Speaker 1: around town showing and selling houses, catching at the Homewood
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  Speaker 1: baseball parks, that's right.
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  Speaker 2: So the last night, yeap.
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  Speaker 1: Yep, yep, I am there, I am there. Hey. Uh,
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  Speaker 1: there's obviously a lot going on in the world, and uh,
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  Speaker 1: we'll in our next segment, we're going to kind of
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  Speaker 1: see how this is impacting mortgage rates, which it is,
• 1:40
  Speaker 1: it is. We're gonna talk about how it's impacting the
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  Speaker 1: real estate market. And uh but luckily we're in selling season.
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  Speaker 2: We are, so it's still busy.
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  Speaker 1: Selling season has kicked off, and uh I'm excited about that.
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  Speaker 1: We do have a couple of new listings. We've got
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  Speaker 1: an open house this afternoon, uh that we're going to
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  Speaker 1: talk about. And uh so I think let's I mean, actually,
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  Speaker 1: I do want to give some shout outs there you go, Yeah, yeah,
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  Speaker 1: let's give some shout outs. I've got We've had let's see,
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  Speaker 1: seven homes go under contract this past week.
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  Speaker 2: Nice.
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  Speaker 1: Uh so I got to give a couple of shout outs.
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  Speaker 1: Graham Reesburg on our team put three homes under contract. Yeah,
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  Speaker 1: Ashley Stags on her team two homes under contract. Uh,
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  Speaker 1: and then Kyle Bedgood and John Ruddle each had contracts
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  Speaker 1: this week, So congratulations. I don't you know, really talk
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  Speaker 1: about I guess my contracts as part of the team.
• 2:36
  Speaker 1: I talk more about the team's contracts. I put a
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  Speaker 1: couple of deals under contract myself. Let's go, uh huh okay, uh,
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  Speaker 1: so yeah, it's it's it's fun to be in the
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  Speaker 1: mix and be out and about and making deals happen.
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  Speaker 1: So yeah, yeah, all right, so yeah, let's let's get
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  Speaker 1: the game going. So right, could you explain the rules.
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  Speaker 2: Of the game. I sure can, all right, Gus, He's
• 3:02
  Speaker 2: gonna go through the properties he's got and kind of
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  Speaker 2: give us the cool details and features and location of
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  Speaker 2: the properties. But what I need the most important piece
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  Speaker 2: at the very end, and he gives me the purchase price,
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  Speaker 2: the list price of the home. I all of them
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  Speaker 2: give Gusty and our producer John Mounts a potential down
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  Speaker 2: payment that a bar may make on it, and they
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  Speaker 2: will guess thirty or fixed monthly payment, principal interest only,
• 3:21
  Speaker 2: monthly payment thirty years fixed. Gusty, Yes, I'm ready for.
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  Speaker 1: A property, all right, open this afternoon. From two to four.
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  Speaker 1: We've got four forty four couples drive. This is in Birmingham.
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  Speaker 1: This is over in the like the Hoover area. It's
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  Speaker 1: in palmer Cove neighborhood. It was built by Harris Dole
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  Speaker 1: Homes just a couple of years ago near Greystone Nice,
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  Speaker 1: just off the Eastern Valley Road. This one is three bedrooms,
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  Speaker 1: two baths and two half baths. It's got a two
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  Speaker 1: car garage two and thirty square feet and we're asking
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  Speaker 1: four twenty nine to nine for twenty nine to nine
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  Speaker 1: and uh yeah, it's the community is right off of
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  Speaker 1: like highway to eighty and Inverness and it's in the
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  Speaker 1: Oak Mountain School district. And these were just built like
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  Speaker 1: two years ago, so uh yeah.
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  Speaker 2: Harrist Oyle builds a great house. Yeah, and we.
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  Speaker 1: Sling a bunch through the years.
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  Speaker 2: Yeah. Well, and when you when you start talking about Hoover,
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  Speaker 2: it's good that you get that detailed because again, when
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  Speaker 2: you say Hoover, it could it could encompass so many
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  Speaker 2: different areas parts of Hoover. So that's a great area,
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  Speaker 2: not that a lot of Hoover's not great, but just
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  Speaker 2: there's thinking that the open through all right, four thirty
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  Speaker 2: ten percent down, ten percent down. We're gonna start with
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  Speaker 2: Gusty ten percent down, Okay, in a white picket fence.
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  Speaker 1: Yeah, actually is that no? You know that's just a
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  Speaker 1: black rail on the second floor. Okay, ten percent down,
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  Speaker 1: All right, I'm gonna go with Oh no, let's go
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  Speaker 1: with twenty five hundred bucks.
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  Speaker 2: Twenty five hundred.
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  Speaker 3: Now, you said the situation happening in Iran is affecting rates.
• 5:20
  Speaker 3: We factoring that in there it is? Oh, okay, and
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  Speaker 3: I'm gonna say I'm gonna say twenty six seventy five.
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  Speaker 2: That doesn't mean Gusty didn't account for an over account
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  Speaker 2: for it because the actual payment is twenty four to fourteen.
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  Speaker 2: Gusty gets round one a little high.
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  Speaker 1: Yeah, So go Gussie Ashley today from two to four
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  Speaker 1: at four forty four couples Drive.
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  Speaker 2: I was scared to answer that question, John, because I
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  Speaker 2: knew that you were gonna go over I want.
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  Speaker 1: Yeah.
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  Speaker 3: I guess I should have thought about it. Well, I see,
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  Speaker 3: because I had to ask a question already, so I'd.
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  Speaker 1: Ask the question. Hey, we got another new listing. This
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  Speaker 1: is out in Moody. This sits on two point six
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  Speaker 1: acres it's thirty three twenty old Sawmill Road, built in
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  Speaker 1: nineteen nine. Five bedrooms, three and a half pass. It's
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  Speaker 1: got thirty three hundred and eighty four square feet on
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  Speaker 1: the main levels. It's got another thousand, seventy eight square
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  Speaker 1: feet finished in the basement. So how about over forty
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  Speaker 1: four hundred square feet? My goodness. Five ninety nine nine,
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  Speaker 1: five ninety nine nine. This listing is courtesy of Carlo Diliberto. So, Carla,
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  Speaker 1: congratulations on your new listing. Oh, by the way, three
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  Speaker 1: car garage. How about that? Two cars on the main level,
• 6:30
  Speaker 1: one in the basement. I like that setup, main level garage. Hey, honey,
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  Speaker 1: see that would be for me, Like K would be like,
• 6:40
  Speaker 1: hey go put your car in the basement, car work downstairs.
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  Speaker 1: That's that's how that would work for me.
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  Speaker 2: I'm over here having some fifteen year old humor in
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  Speaker 2: my head and I can't. I'm trying to shake it,
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  Speaker 2: so sorry. So five ninety nine nine, five ninety nine nine,
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  Speaker 2: fifteen percent down, fifteen percent down.
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  Speaker 3: It's on you, John, Okay, this is kind of higher
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  Speaker 3: than my normal territory in which I usually tread. So
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  Speaker 3: I'm gonna say I don't know forty one hundred dollars.
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  Speaker 1: Fifteen percent down I did, Man, I think I'm gonna
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  Speaker 1: go with like thirty three hundred.
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  Speaker 2: It was actually three thy one hundred and eighty two
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  Speaker 2: dollars to get h I said, the rates went up
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  Speaker 2: like three eighths to a quarter percent, not two percent.
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  Speaker 3: Like I said. It's a little higher. It is not
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  Speaker 3: in the price range.
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  Speaker 1: I'm used to dealing in. All right, hey, and this
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  Speaker 1: one is coming soon, but I wanted to have a
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  Speaker 1: third for our game. Uh two thirteen Ash Circle in Trussville.
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  Speaker 1: This is in the Ridgewood Forest subdivision, built in nineteen
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  Speaker 1: eighty three bedrooms, two baths, eleven hundred and four square feet.
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  Speaker 1: And we're asking two forty nine nine, two forty nine
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  Speaker 1: nine and the heart of Trustville, Well, I guess I
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  Speaker 1: don't know necessarily the heart of Trustful.
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  Speaker 2: But is it Trust Schools?
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  Speaker 1: Oh yeah, Trust for Schools two fifty and Trustle School
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  Speaker 1: That's why. But I would say, like the heart of
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  Speaker 1: it is, you know, that's Main Street and yeah, the
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  Speaker 1: entertainment district out road, That's what I would consider the
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  Speaker 1: heart of Trustle. This is not not there, but it's
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  Speaker 1: close by, heart adjacent yeah, hardish two thirteen ash circle
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  Speaker 1: and trustle this is cruzy of Kyle Bedgoods comings on
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  Speaker 1: your coming soon.
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  Speaker 2: All right? Five percent down?
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  Speaker 1: Is it?
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  Speaker 2: Two forty nine nine? Yeah, five percent down? Back to
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  Speaker 2: our esteemed host, Dusty Googles, Yes, it was already clunched
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  Speaker 2: it today. Now he's just going for pride.
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  Speaker 1: Yeah, yeah, going for the clean sweep.
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  Speaker 2: We can get it, Zach. He's going for the exact.
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  Speaker 1: Five percent down thirteen seventy eight.
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  Speaker 3: Since I've been way too high, I'm gonna go way
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  Speaker 3: too low, so.
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  Speaker 2: I know. Eleven fifty fourteen eighty one, fourteen eighty one.
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  Speaker 2: Time they both ad justice still not enough man, clean
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  Speaker 2: sweep today.
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  Speaker 1: Hey, I'll take it. I'll take it. Hey, you know,
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  Speaker 1: I guess I know what I'm doing. There.
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  Speaker 2: You go.
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  Speaker 3: You should sell houses?
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  Speaker 2: Really?
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  Speaker 1: You know I should? I should. Hey. We've got one
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  Speaker 1: coming up in the pel City area on almost an
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  Speaker 1: acre for five hundred thousand in the let's see off
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  Speaker 1: of Eastonville Road. We've also got a couple of coming scenes.
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  Speaker 1: We've got one coming up in Edgewood and Homewood area
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  Speaker 1: next month for one and a half million. We've got
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  Speaker 1: one coming up in the Downing Park neighborhood of mccallough
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  Speaker 1: for two hundred and eighty thousand. That's going to be
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  Speaker 1: coming up here in a couple of weeks. We've got
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  Speaker 1: I love this type of season because we've got a
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  Speaker 1: bunch coming up in the mix. So I really excited
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  Speaker 1: about all that. We do have some VIP buyer needs,
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  Speaker 1: So if you've got somebody, if you have a home
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  Speaker 1: or have a friend that may be interested in selling
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  Speaker 1: in Edgewood, Liberty Park, Chilton County. We're looking for some
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  Speaker 1: acreage in Chilton County. We've got multiple people looking at Homewood.
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  Speaker 1: We've got multiple people looking in Vestavia. We've got multiple
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  Speaker 1: people looking in Hoover. You might as well just say,
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  Speaker 1: if you're thinking about selling a property, you can call
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  Speaker 1: two of five five four to two nineteen ninety six,
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  Speaker 1: or go to a gustygoulisgroup dot com. We can match
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  Speaker 1: it on the market off the market, but we've got
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  Speaker 1: people that are looking to buy right now, So give
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  Speaker 1: us a shout. Hey, guess what time it is. That's right,
• 11:01
  Speaker 1: it's testimonial time, all right, this is from the Whitley family.
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  Speaker 1: Riley did an excellent job assisting us with our purchase
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  Speaker 1: of land. He was knowledgeable and responsive. Riley is a
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  Speaker 1: family man in his and has his client's best interest
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  Speaker 1: at heart. Well, mister Willy, thank you so much for
• 11:21
  Speaker 1: the opportunity to assist you with your land purchase. And Riley,
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  Speaker 1: congratulations on another five star review.
• 11:30
  Speaker 2: Mister Willie dropping five stars.
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  Speaker 1: Oh yeah, all right, this one comes from mister Barnes.
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  Speaker 1: Carla was great. She stayed on top of every aspect
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  Speaker 1: of the buying process. We'll use her to sell my
• 11:43
  Speaker 1: next house. She made the whole process of buying the
• 11:46
  Speaker 1: home as smooth of a process as possible. That's a
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  Speaker 1: lot of peace. Can't say enough of how good she was.
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  Speaker 1: So mister Barnes, thank you so much for the opportunity
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  Speaker 1: to help you with your buying of your buy of
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  Speaker 1: your home. And then Carla, congratulations.
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  Speaker 2: On another five star review.
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  Speaker 1: Unless, but not least, today we've got the saveda saveda family.
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  Speaker 1: Gusty is an exceptional professional. In a very short period
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  Speaker 1: of time, he helped us find our dream home. Thanks
• 12:20
  Speaker 1: to his deep knowledge of the market and strong local reputation,
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  Speaker 1: we were able to secure a great price. In every
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  Speaker 1: step of the closing process. Was smooth and efficient. We
• 12:30
  Speaker 1: highly recommend him and look forward to working with him
• 12:34
  Speaker 1: again in the future. So thank you so much for
• 12:36
  Speaker 1: the opportunity to help you find your home here locally
• 12:39
  Speaker 1: andtitulations to me on another five star reviews. That's right.
• 12:45
  Speaker 1: Oh yeah, I love those five star reviews.
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  Speaker 2: They're fantastic.
• 12:51
  Speaker 1: Yeah yeah. All right, Hey, y'all stay tuned. We're going
• 12:54
  Speaker 1: to go to break. We are going to talk about
• 12:56
  Speaker 1: what we're seeing in the mortgage rates, what we're seeing
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  Speaker 1: in the mortgage market due to this thing going on
• 13:02
  Speaker 1: overseas right here on Bob Bard and Sold. Y'all stay tuned.
• 13:06
  Speaker 1: All right, welcome back to Bobard and Sold and tell
• 13:09
  Speaker 1: you what. There's a lot going on in the news
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  Speaker 1: locally and globally. Yes, so I want to touch on
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  Speaker 1: something locally and then we'll get to how the you know,
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  Speaker 1: conflict war whatever we're calling it as impact in the
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  Speaker 1: real estate market. But locally, I will tell you something
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  Speaker 1: that's coming down the pipeline that will have an impact
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  Speaker 1: on Birmingham, Alabama real estate is the announcement that the
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  Speaker 1: u United States Coast Guard is going to be acquiring
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  Speaker 1: the Birmingham Southern College. So I thought that was super
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  Speaker 1: interesting that information came out this week. I know that
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  Speaker 1: Senator Katie Britt, who I knew in college, Senator Tommy
• 13:53
  Speaker 1: Tubberville was very involved. I know Mayor wood Fin was
• 13:57
  Speaker 1: involved in all this, and so I think that's an
• 14:00
  Speaker 1: incredible and I'm really interested to see how they are
• 14:03
  Speaker 1: gonna be working on this facility and using it as
• 14:06
  Speaker 1: a training ground. And because you you know, when you
• 14:09
  Speaker 1: think like Coast Guard, you think by the water, right,
• 14:12
  Speaker 1: I'm like, well, you know, they don't have any water
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  Speaker 1: at Birmingham Strn, So how are they going to be
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  Speaker 1: doing this as a training ground. So I'm super interested
• 14:19
  Speaker 1: in that. But the early reports is this is gonna
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  Speaker 1: this is gonna have like a thousand jobs. That's gonna
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  Speaker 1: impact the market. In a thousand jobs, guess what's gonna happen.
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  Speaker 1: There's gonna be more need for housing typically that's gonna
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  Speaker 1: mean that there's probably prices are probably gonna go up,
• 14:37
  Speaker 1: which is good things if you're a seller. Right, So
• 14:40
  Speaker 1: I'm really excited about that news. And I'll tell you, like,
• 14:43
  Speaker 1: if anybody is in the Coast Guard and looking at
• 14:47
  Speaker 1: you know, making a move to Birmingham, our team would
• 14:50
  Speaker 1: love to have a conversation with you and love to
• 14:52
  Speaker 1: assist in your relocation or yeah, relocation to the Birmingham market.
• 14:58
  Speaker 1: We would be loved to take great care of you.
• 15:00
  Speaker 1: You so yeah, well, I mean if you did you
• 15:02
  Speaker 1: have a chance to see that.
• 15:03
  Speaker 2: Yeah, I mean I've scanned through the article and and so. Yeah,
• 15:07
  Speaker 2: but it's exciting and we've had a lot you know,
• 15:08
  Speaker 2: the Stay of Alabama's had a lot of good news
• 15:11
  Speaker 2: on the growth department over the past well you know
• 15:13
  Speaker 2: really Jefferson County, I mean, you know, Birmingham itself and
• 15:16
  Speaker 2: and things were around. We've we've we've we've seen other
• 15:19
  Speaker 2: growth in the state, Huntsvill Huntsville area. State Stays has
• 15:22
  Speaker 2: been stayed in growth mode. It's nice to have it
• 15:25
  Speaker 2: right here in Birmingham. And so so between the Fannie
• 15:29
  Speaker 2: May or the Fanny May relocation we talked about back
• 15:31
  Speaker 2: in the fall, this coming over. You see some of
• 15:33
  Speaker 2: the big industries getting built on twenty fifty nine and
• 15:36
  Speaker 2: some of the big big stuff going on. It's only
• 15:39
  Speaker 2: just good stuff for the Birmingham economy, real estate, local markets, uh,
• 15:43
  Speaker 2: business owners all that. So like it's all been positive
• 15:47
  Speaker 2: and and yeah, I mean you know, these the politicians
• 15:51
  Speaker 2: for all we give them some crap about a lot
• 15:53
  Speaker 2: of times and kind of kind of be a butt
• 15:55
  Speaker 2: of a joke. I mean they've worked hard with it.
• 15:56
  Speaker 2: Katie Britt's big and the you know, part of the
• 15:59
  Speaker 2: Homeland Security team and knew this, knew what they were
• 16:02
  Speaker 2: kind of looking for, and her and her and Senator
• 16:05
  Speaker 2: Tubleville for now you know that they did. They met
• 16:09
  Speaker 2: with Homeland Security and kind of presented it and talked
• 16:12
  Speaker 2: about some of the benefits and stuff. And so that's
• 16:13
  Speaker 2: that's a big land and a big, a big win.
• 16:15
  Speaker 2: So it'll be huge. It will be interesting to see
• 16:18
  Speaker 2: how they how they converted. I mean, you know, you
• 16:19
  Speaker 2: got to think Birmingham Southern was all encompassing inside of
• 16:23
  Speaker 2: inside of gates, which is which, which is good. But
• 16:25
  Speaker 2: I mean you had fraternity houses, you had dorm rooms,
• 16:27
  Speaker 2: which I mean I get that those are different living
• 16:29
  Speaker 2: quarters you're gonna when they're training and stuff. I mean
• 16:31
  Speaker 2: some of that stuff may be an easier conversion, but
• 16:33
  Speaker 2: it is gonna be interesting to kind of see how
• 16:35
  Speaker 2: how it's, how the undertaking is during and what how
• 16:37
  Speaker 2: it all goes down. So that's fun stuff.
• 16:39
  Speaker 1: I'm excited about that. And I'm just excited that there's
• 16:43
  Speaker 1: a plan for the exactly, so I didn't want it
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  Speaker 1: to go to waste and and so it's it's gonna
• 16:49
  Speaker 1: be a good opportunity for sure. Now obviously, the the
• 16:53
  Speaker 1: the big news going on globally is the war, the
• 16:55
  Speaker 1: conflict whatever you want to call in Iran, and it
• 17:01
  Speaker 1: is impacting mortgage interest rates. And you know what mortgage
• 17:05
  Speaker 1: interest rates, they go up super fast and they take
• 17:09
  Speaker 1: forever to fall.
• 17:11
  Speaker 2: Yep.
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  Speaker 1: And we've been over the last I don't know, six
• 17:14
  Speaker 1: nine months, just like like slowly inching down. Well what
• 17:21
  Speaker 1: do we got, Brad?
• 17:22
  Speaker 2: All Right? So you know, sometimes you know, some bad
• 17:27
  Speaker 2: news is good for mortgage rates. Some bad news doesn't
• 17:30
  Speaker 2: help mortgage rate. So we'll call it a conflict. You know,
• 17:33
  Speaker 2: I don't know what the proper terms are. To me,
• 17:35
  Speaker 2: it's a war just on the surface level. But well
• 17:37
  Speaker 2: we'll call it a conflict for lack of a better word.
• 17:40
  Speaker 2: I mean, it's going on in Iran. So what does
• 17:43
  Speaker 2: that impact a lot? And that's oil prices, So I
• 17:46
  Speaker 2: mean oil has already jumped about ten dollars a barrel
• 17:49
  Speaker 2: across the board. The oil price is definitely. You know,
• 17:52
  Speaker 2: I tell people all the time, there's different little triggers
• 17:54
  Speaker 2: you look at, but more times than not, when oil
• 17:56
  Speaker 2: prices go up, money's gonna come out of stocks and
• 17:59
  Speaker 2: out of bonds, and so people are selling. And so
• 18:02
  Speaker 2: therefore that that that the demand form is not as high,
• 18:05
  Speaker 2: so the mortgage rates go up. So this, this this
• 18:08
  Speaker 2: impact on oil prices is directly impacting mortgage rates. Now,
• 18:12
  Speaker 2: the good news is the technicals that we're normally going
• 18:15
  Speaker 2: by are still showing what we wanted it to show
• 18:17
  Speaker 2: for mortgage rates. So at some point this is gonna
• 18:19
  Speaker 2: settle in, level out, and mortgage rates will be able
• 18:22
  Speaker 2: to respond accordingly. So we're still showing weak job reports,
• 18:26
  Speaker 2: we're still showing good numbers for decreasing inflation. We've still
• 18:31
  Speaker 2: got a new Fed shair that's gonna be coming in
• 18:33
  Speaker 2: in May. So the mortgage rates are you know, again,
• 18:36
  Speaker 2: and when we talk about going up in which it
• 18:38
  Speaker 2: is significant, but we're talking about a quarter percent. So
• 18:40
  Speaker 2: let's just say I've been saying rates through around six percent.
• 18:43
  Speaker 2: Today I may say we're like six point twenty five
• 18:45
  Speaker 2: or six point three seven five, so I'm not I mean,
• 18:48
  Speaker 2: it's material, but it's not aut like it didn't go
• 18:50
  Speaker 2: to seven and a half, right, and so so so
• 18:54
  Speaker 2: you know, I don't I don't think it's going to
• 18:56
  Speaker 2: be a huge hurdle for people in the market to go, oh,
• 18:59
  Speaker 2: my payment may go up up, you know, forty dollars
• 19:01
  Speaker 2: more than I thought it was gonna go up. Now
• 19:03
  Speaker 2: I'm not buying a house, like. I don't think that's
• 19:04
  Speaker 2: going to be a huge impact on many people, and
• 19:07
  Speaker 2: again that are already in it now. It may keep
• 19:09
  Speaker 2: a couple of people from diving in that have it,
• 19:11
  Speaker 2: we're about to do a preapproval and start planning. It
• 19:14
  Speaker 2: may hold them off a second from pulling a trigger
• 19:16
  Speaker 2: right to contract. But for the most part, you know,
• 19:19
  Speaker 2: I still see this as not It's just been kind
• 19:21
  Speaker 2: of a blip on the radar as far as like
• 19:23
  Speaker 2: what we're going to work through this spring of this year.
• 19:25
  Speaker 2: But it is. It is one of those things. Every
• 19:27
  Speaker 2: time it's like, you know, last week, we're recording and
• 19:29
  Speaker 2: I'm saying, hey, you know, barring anything outside of what
• 19:33
  Speaker 2: the normal technicals would show us and what we're looking at,
• 19:36
  Speaker 2: you know, I think mortgage Act, You're gonna stay at
• 19:38
  Speaker 2: six and probably keep coming down to the midvice borring
• 19:41
  Speaker 2: anything crazy. And then you know, over the weekend last
• 19:44
  Speaker 2: week we had that that the bombing in Iran, and
• 19:47
  Speaker 2: then it's been pretty much a constant conflict a whole
• 19:50
  Speaker 2: week long since and doesn't seem to be ending anytime soon,
• 19:54
  Speaker 2: and so excuse me. And so you know, that's what
• 19:57
  Speaker 2: we're seeing mortgage rates. But but again the tech les
• 20:00
  Speaker 2: that we're normally looking at are all showing signs from
• 20:02
  Speaker 2: more to keep coming down. So that's the positive and
• 20:05
  Speaker 2: the underlying side of it.
• 20:06
  Speaker 1: Well, I think the positive on our end is while
• 20:09
  Speaker 1: I don't like seeing interest rates go up, the positive
• 20:12
  Speaker 1: is we're now in selling season, right, and so this
• 20:15
  Speaker 1: is the time that people are typically going to be
• 20:17
  Speaker 1: making their moves, whether it's getting prepared for making a
• 20:22
  Speaker 1: move in the summertime, whether it's for schools or you know,
• 20:25
  Speaker 1: for whatever reason it might be. You know, uh, it's
• 20:29
  Speaker 1: not gonna I don't believe it's going to have that
• 20:32
  Speaker 1: big of an impact on people making their decisions just
• 20:36
  Speaker 1: because of tis the season that we're in.
• 20:38
  Speaker 2: Yeah, I don't think it's gonna pause.
• 20:39
  Speaker 1: You know, I think if this was happening in November,
• 20:42
  Speaker 1: I think it'd be a different ballgame. I think people
• 20:44
  Speaker 1: would would definitely, you know, take a step back and
• 20:47
  Speaker 1: just say, hey, I want to see what's going to happen.
• 20:50
  Speaker 1: But I think for the most part, now that we're
• 20:52
  Speaker 1: in busy season, that's when you know, selling season, we're
• 20:55
  Speaker 1: starting to see more houses come on the market. I
• 20:58
  Speaker 1: was doing numbers with our tea this past week and
• 21:02
  Speaker 1: we have actually seen less cells this year than in
• 21:07
  Speaker 1: the previous year.
• 21:07
  Speaker 2: Yep.
• 21:08
  Speaker 1: So we're down like ten percent in home sales. And
• 21:11
  Speaker 1: I look at the Jefferson, Shelby, and Saint Clair counties,
• 21:14
  Speaker 1: which is the three biggest counties in our market. Uh
• 21:18
  Speaker 1: so you know, we're down basically ten percent and home sold.
• 21:23
  Speaker 1: We're up ten percent in inventory, but we've actually had
• 21:27
  Speaker 1: averages average prices going up too, right, So that tells
• 21:30
  Speaker 1: you that there there's still a need for good housing.
• 21:34
  Speaker 2: We're in a good bout out there.
• 21:36
  Speaker 1: So we there's there's properties that we put under contract
• 21:41
  Speaker 1: this week that have been on the market two months
• 21:43
  Speaker 1: and have you know, slowly had more activity. And so
• 21:48
  Speaker 1: there's there's one house that that we put under contract
• 21:51
  Speaker 1: that it just you know, really in the first kind
• 21:54
  Speaker 1: of two weeks of the year, we really weren't seeing
• 21:56
  Speaker 1: that much activity, and all of a sudden in the
• 21:58
  Speaker 1: last two weeks we saw more activity, right, And I
• 22:00
  Speaker 1: think that just has relation to people just coming into
• 22:04
  Speaker 1: the market. Right at this time, we we've sold a
• 22:07
  Speaker 1: house to an investor that's going to be flipping a property,
• 22:11
  Speaker 1: and and the seller in that situation just didn't want
• 22:15
  Speaker 1: to deal with going to market, right. So what we
• 22:17
  Speaker 1: did was we reached out to multiple investors to see
• 22:20
  Speaker 1: if anybody could take on another project. Sometimes I'll take
• 22:23
  Speaker 1: these projects on. It just depends on what I've got
• 22:26
  Speaker 1: on my plate. But I've also got really about seven
• 22:30
  Speaker 1: people that I can rely on to say, hey, you
• 22:33
  Speaker 1: know who who can who can flip this property? And
• 22:36
  Speaker 1: and and so we did. We found somebody that is
• 22:39
  Speaker 1: going to I feel like they got a really good
• 22:42
  Speaker 1: deal in this property. They're gonna they're gonna do the renovation,
• 22:45
  Speaker 1: they're gonna we'll bring it to market, you know here
• 22:47
  Speaker 1: in a couple of months. Yeah, So you know, people
• 22:50
  Speaker 1: are you know, like anytime buying and selling houses. I'm
• 22:53
  Speaker 1: really excited about some of the things that are coming
• 22:55
  Speaker 1: on the market. Uh, I no, I was. I showed
• 22:59
  Speaker 1: a how of this earlier this week in Edgewood and
• 23:04
  Speaker 1: uh at one point two million dollars. And now my
• 23:07
  Speaker 1: folks weren't interested. Uh, but I was told that there
• 23:10
  Speaker 1: was twenty showing scheduled twenty plus showing scheduled in this property. Wow,
• 23:15
  Speaker 1: which is unbelievable. Me.
• 23:17
  Speaker 2: Well, so, I mean you talked about it a minute
• 23:18
  Speaker 2: ago to I mean, like, you know, if you were
• 23:20
  Speaker 2: in the market to buy a home this spring or summer,
• 23:24
  Speaker 2: it's time to be getting preapproved and looking because I mean,
• 23:26
  Speaker 2: if you haven't already something like if you're want to
• 23:28
  Speaker 2: be in the house before August, I mean it's hot
• 23:30
  Speaker 2: right now. I mean you're you're waiting until next year.
• 23:32
  Speaker 2: If you were out school systems and getting everything done,
• 23:34
  Speaker 2: so like it is, it's time to go in and
• 23:36
  Speaker 2: get it done. If you were on the fence and
• 23:38
  Speaker 2: go to Bradsmith Loans dot com or yeah, check out
• 23:41
  Speaker 2: Gusty at Gusty Gulesgroup dot com. Yeah.
• 23:43
  Speaker 1: So so the one two punch, let's get you pre
• 23:46
  Speaker 1: qualified for a mortgage unless you're paying cash, which you
• 23:49
  Speaker 1: know we like y'all too, Uh, Bradsmith Loons dot com.
• 23:53
  Speaker 1: And then let's meet, let's build a plan of action together,
• 23:55
  Speaker 1: whether you're looking at buying or selling a property. Gustygooglessgroup
• 23:58
  Speaker 1: dot com thanks so much for joining us this week.
• 24:02
  Speaker 1: Hope you have an amazing rest of your weekend. We'll
• 24:04
  Speaker 1: catch you next time. Tarty