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Ratws are comming back down, time to buy a house! · Bought Borrowed and Sold

• 0:00
  Speaker 1: Hello, good morning. Hope everybody is doing wonderful it is.
• 0:05
  Speaker 1: We took a little break last week, didn't we brown well,
• 0:08
  Speaker 1: Thanksgiving break.
• 0:09
  Speaker 2: But said we took a radio break.
• 0:11
  Speaker 1: If I got a break, Yeah, well that's that's a
• 0:13
  Speaker 1: valid point. We went to Gadston for for the holidays, and.
• 0:18
  Speaker 2: Yes we did.
• 0:19
  Speaker 3: Y'all did too, so both of us.
• 0:21
  Speaker 1: Yeah, we were up and yaess and but we didn't
• 0:23
  Speaker 1: hang out, No, not there.
• 0:25
  Speaker 3: No, y'all were doing some hunting and.
• 0:26
  Speaker 2: We were doing some hunting, and we were down in
• 0:28
  Speaker 2: south Side on the river at my grandmother's and I
• 0:30
  Speaker 2: think you were up on the mountain and eating pizza.
• 0:33
  Speaker 1: Dude, Mater's pizza. I literally ate it Wednesday, Thursday, Friday
• 0:39
  Speaker 1: and Saturday. I had at least one piece every day,
• 0:43
  Speaker 1: and that was my plan.
• 0:44
  Speaker 2: I think when I saw you in the after the weekend,
• 0:46
  Speaker 2: I think that was my first question to you was
• 0:48
  Speaker 2: not even like j all have a good weekend.
• 0:49
  Speaker 3: I was traveling.
• 0:50
  Speaker 1: Thanks.
• 0:50
  Speaker 2: Did you get your majors get.
• 0:52
  Speaker 3: And ladies and gentlemen. Yes I did, Yes, he did.
• 0:55
  Speaker 1: I was so pumped me And I think part of
• 0:57
  Speaker 1: it is like the last time I was up in Gadston,
• 0:59
  Speaker 1: hanging out at my laws. They they didn't do they
• 1:03
  Speaker 1: didn't do mators or they did it like the day
• 1:05
  Speaker 1: before we came in town, and I was like, why
• 1:09
  Speaker 1: didn't you just wait for me? So Uh, anyways, I
• 1:13
  Speaker 1: hope everybody had a wonderful Thanksgiving and got to see
• 1:17
  Speaker 1: you know, family members and friends that maybe you haven't
• 1:20
  Speaker 1: seen in a long time. And yeah, so so back
• 1:25
  Speaker 1: to the grind. And you know, I tell you, Brad, uh,
• 1:29
  Speaker 1: those of y'all, you know jumping in Brad Smith with
• 1:31
  Speaker 1: Cross Country Mortgage Bradsmithlans dot Com in our studio each
• 1:35
  Speaker 1: and every week.
• 1:35
  Speaker 3: And you.
• 1:37
  Speaker 1: Know, we we've seen we've seen an increase in in
• 1:41
  Speaker 1: people getting into the market.
• 1:43
  Speaker 4: Uh.
• 1:44
  Speaker 1: Ever since this government shut down no longer shut down. Uh,
• 1:48
  Speaker 1: we've seen our interests dramatically go up. And we've been
• 1:52
  Speaker 1: I've been showing houses it seems like every single day
• 1:55
  Speaker 1: with people that are interested, whether they're moving in from
• 1:57
  Speaker 1: out of town or back to town, or people's leases
• 2:01
  Speaker 1: are coming due and they're ready to go ahead and
• 2:04
  Speaker 1: make that jump into home ownership. And we've been seeing
• 2:07
  Speaker 1: a little bit of everything. And I've seen even some
• 2:11
  Speaker 1: multiple offer situations pop up again, which is interesting. But
• 2:16
  Speaker 1: you know, what I'm finding is the buyers that are
• 2:21
  Speaker 1: out there right now are really exhausting all options. Yes,
• 2:24
  Speaker 1: they want to look at everything that's on the market,
• 2:27
  Speaker 1: and they're not as dialed in as I'd say, we'd
• 2:30
  Speaker 1: probably hope. But what they're doing in is this reminds
• 2:34
  Speaker 1: me a lot of you know, real estate fifteen years ago,
• 2:38
  Speaker 1: where there was so many options that people were looking
• 2:41
  Speaker 1: at everything. And I think that I would say that
• 2:44
  Speaker 1: there's not as many options. Obviously there's not as many
• 2:46
  Speaker 1: options as there were fifteen years ago, but of those options, like,
• 2:50
  Speaker 1: people are really exhausting all of those options, and they're
• 2:53
  Speaker 1: trying to see like will it fit in our box
• 2:57
  Speaker 1: or will it fit in like.
• 3:00
  Speaker 3: Do we want to do a renovation?
• 3:02
  Speaker 1: And what's funny is like every time I go into
• 3:04
  Speaker 1: a house that needs to be renovated, like most people
• 3:08
  Speaker 1: do not want to do a renovation. They don't they
• 3:10
  Speaker 1: don't have the vision, they don't want to go through
• 3:12
  Speaker 1: the process. And so but they've got to clear that out.
• 3:15
  Speaker 1: They've got to just say, all right, let me let
• 3:17
  Speaker 1: me see if this is an option, and then after
• 3:20
  Speaker 1: we get in there, they're like, we just don't want
• 3:22
  Speaker 1: to go through that renovation process. And so I'll tell you,
• 3:24
  Speaker 1: I feel like the big winners right now are the people,
• 3:27
  Speaker 1: the investors, the people that are renovating houses and selling
• 3:31
  Speaker 1: those properties. Those are the people that those houses are moving. Yeah,
• 3:36
  Speaker 1: because people just do not want to do the work
• 3:39
  Speaker 1: and they want something to move in ready, and maybe
• 3:41
  Speaker 1: they just don't have the extra funds to do the renovations.
• 3:43
  Speaker 1: And then obviously on a renovated house, they can get
• 3:46
  Speaker 1: their financing and they don't have to worry about other
• 3:49
  Speaker 1: additional out of pocket expenses.
• 3:50
  Speaker 2: Yeah. I mean, you know in Birmingham, Jefferson County, Shelby County,
• 3:54
  Speaker 2: you know are areas around here. You know there's we
• 3:56
  Speaker 2: have Obviously, you know, certain people want to be in
• 3:58
  Speaker 2: certain areas, and so some areas you can go buy
• 4:01
  Speaker 2: a land and build, right, I mean, you can build
• 4:03
  Speaker 2: something from scratch, you don't have to do renovation. Some
• 4:05
  Speaker 2: have brand new subdivisions, it's all new construction. But some
• 4:08
  Speaker 2: people want to be in some of these communities that
• 4:10
  Speaker 2: are landlocked. There is no more dirt, so the only
• 4:13
  Speaker 2: option is to start to renovate and create houses that's correct,
• 4:16
  Speaker 2: that fit what people need at that moment. So to
• 4:20
  Speaker 2: your point, I mean, you know, I think it's I
• 4:22
  Speaker 2: think we're definitely seeing it. I know I personally had
• 4:25
  Speaker 2: more and more people want to get pre qualified, Some
• 4:27
  Speaker 2: want to do something as soon as they find something.
• 4:30
  Speaker 2: Some just kind of going ahead and building that plan
• 4:32
  Speaker 2: to come back and really start looking in January and
• 4:35
  Speaker 2: try to do something in the spring. But it's definitely
• 4:37
  Speaker 2: picking up. But it's funny you said that about fifteen
• 4:39
  Speaker 2: years ago, because when we get into a market update,
• 4:41
  Speaker 2: I've got some numbers that'll kind of go back to
• 4:43
  Speaker 2: some similarities between now and twenty twelve. There we go
• 4:47
  Speaker 2: of kind of going back to that zone of what
• 4:50
  Speaker 2: you're talking about. So it's funny you bring that up.
• 4:52
  Speaker 2: So tease that for the market up now.
• 4:53
  Speaker 3: Yeah.
• 4:54
  Speaker 1: Second, So yeah, and we'll do that in the second segment,
• 4:56
  Speaker 1: and I'll kind of give you an idea of where
• 4:57
  Speaker 1: we're at year to date and and how we're going
• 5:01
  Speaker 1: to finish the year. So but we've got we've got
• 5:05
  Speaker 1: some open houses this afternoon that I'd love to tell
• 5:08
  Speaker 1: you about, and so we'll get our game going. It's
• 5:11
  Speaker 1: the mortgage guessing, the mortgage payment game, and it'll be
• 5:16
  Speaker 1: myself against John Mounts and Brad. I guess tell the
• 5:20
  Speaker 1: rules to everybody, my friend.
• 5:21
  Speaker 2: Yes, the rules, they're quite simple. Gus, he's going to
• 5:24
  Speaker 2: go through the listings in the open house that they've got.
• 5:26
  Speaker 2: He's going to go through some of the finer details,
• 5:27
  Speaker 2: but the end he's going to give us the most
• 5:28
  Speaker 2: important piece that I need in that is the list
• 5:30
  Speaker 2: price of the property, at which point I will give
• 5:32
  Speaker 2: a potential down payment that a baller may make if
• 5:33
  Speaker 2: they're a purchase in that home, and Gusty and John
• 5:35
  Speaker 2: Mounts will guess the monthly thirty year fixed principal interest
• 5:38
  Speaker 2: only payment.
• 5:40
  Speaker 3: There we go.
• 5:41
  Speaker 1: All right, We've got a new listing in the Bellevue
• 5:45
  Speaker 1: Heights neighborhood of Birmingham. Fourteen twelve forty second Street. This
• 5:52
  Speaker 1: one was built in nineteen thirty five. Nice little bungalow
• 5:56
  Speaker 1: that is three bedrooms, one and a half baths, fourteen
• 5:59
  Speaker 1: and forty eight square feet and we are asking one
• 6:02
  Speaker 1: hundred and twenty five thousand, one hundred and twenty five thousand,
• 6:07
  Speaker 1: and this listing is courtesy of Tony Big Daniels. So Tony,
• 6:11
  Speaker 1: congratulations on your new listing. And it's gonna be open
• 6:15
  Speaker 1: from two to four this afternoon.
• 6:17
  Speaker 2: Nice, all right one twenty five five percent down, five
• 6:20
  Speaker 2: percent down.
• 6:22
  Speaker 3: Gusty first, five percent down.
• 6:27
  Speaker 4: I'm gonna go with seven fifty. About seven fifty.
• 6:41
  Speaker 3: I feel like I feel like that's a little low.
• 6:43
  Speaker 3: I could be wrong. I feel like closer to eight
• 6:47
  Speaker 3: twenty five.
• 6:49
  Speaker 2: Both great guesses, but the actual payment was seven hundred
• 6:52
  Speaker 2: and thirty one dollars. Gusting gets first one.
• 6:56
  Speaker 1: Let's go. I can't have three weeks in a b
• 7:00
  Speaker 1: oh John, John. Technically you won last week because it
• 7:02
  Speaker 1: was a replace show.
• 7:03
  Speaker 4: Oh well, would you look at that?
• 7:05
  Speaker 3: Would you look at it? I chose to replay show
• 7:08
  Speaker 3: where you won.
• 7:09
  Speaker 1: Oh okay, all right, well, well we know you had
• 7:12
  Speaker 1: to go back at least two weeks. I was gonna say, hey,
• 7:16
  Speaker 1: we've got our next new listing is in Penson. It's
• 7:19
  Speaker 1: also going to be opened this afternoon from two to four.
• 7:22
  Speaker 1: This one is three bedrooms, two baths, thirteen and twenty
• 7:26
  Speaker 1: one square feet uh two oh nine nine. This is
• 7:29
  Speaker 1: in the Whistling Pines neighborhood in the Clay area, so
• 7:33
  Speaker 1: it's a Clay Chalkville School district. And this sits on
• 7:36
  Speaker 1: point four to one of an acre so almost a
• 7:38
  Speaker 1: half acre built in nineteen eighty five. This one also
• 7:42
  Speaker 1: has an unfinished basement, so you can have as much
• 7:45
  Speaker 1: storage as you would like. And uh yeah, two O
• 7:49
  Speaker 1: nine to nine, two O nine nine.
• 7:51
  Speaker 2: Two O nine nine, John, we're gonna put ten percent
• 7:54
  Speaker 2: down on this one, ten percent down two O nine nine, So.
• 7:59
  Speaker 5: That's like twenty thousand dollars ish, so we're really financing
• 8:04
  Speaker 5: like one eighty five ishy n whatever. So I'm gonna say.
• 8:12
  Speaker 3: Eleven hundred dollars. Okay. You said twenty percent down, ten
• 8:17
  Speaker 3: ten percent down, okay.
• 8:19
  Speaker 5: But twenty so that'd be twenty thousand dollars because it's
• 8:21
  Speaker 5: a twenty thousand knock house. Yeah, that's what when you
• 8:24
  Speaker 5: kind of threw me off, I was giving numbers, just
• 8:25
  Speaker 5: you know, trying.
• 8:28
  Speaker 2: Like JT doing math on air. Here, John gets that joke.
• 8:34
  Speaker 2: I get that joke.
• 8:36
  Speaker 3: I'm gonna go with what did John say?
• 8:41
  Speaker 2: Eleven hundred even.
• 8:43
  Speaker 3: I'm gonna go with eleven fifty.
• 8:45
  Speaker 2: Eleven fifty all right, Well the payment was actually eleven
• 8:49
  Speaker 2: sixty four. Hey right off at the knees, Hey taking
• 8:54
  Speaker 2: no prisoners.
• 8:57
  Speaker 3: But my guess wasn't bad.
• 8:58
  Speaker 2: Oh, he's a good guess. I'm saying, he you know,
• 9:01
  Speaker 2: he's not looking to lose again.
• 9:04
  Speaker 4: Now I'm playing for them, baby, I'm dialed in.
• 9:07
  Speaker 3: All right.
• 9:08
  Speaker 1: Uh open this afternoon from two to four in Kolera
• 9:12
  Speaker 1: Emerald Ridge neighborhood. This was built in twenty ten. It's
• 9:16
  Speaker 1: four bedrooms, two baths located at eleven ninety four Emerald
• 9:20
  Speaker 1: Ridge Drive. Eleven ninety four Emerald Ridge Drive, four bedrooms,
• 9:25
  Speaker 1: two baths, two thousand and seventy six square feet with
• 9:27
  Speaker 1: the two car garage two eighty nine to nine, two
• 9:31
  Speaker 1: eighty nine to nine. This listing is courtesy of Kyle Bedgood.
• 9:35
  Speaker 1: A couple of notes on this one. It's got an
• 9:37
  Speaker 1: HVAC that was installed last year, a water heater back
• 9:41
  Speaker 1: in twenty twenty three, and a new double door refrigerator
• 9:44
  Speaker 1: also in twenty twenty three in Emerald Ridge Community.
• 9:51
  Speaker 2: Two eighty nine to nine to eighty nine nine five percent.
• 9:55
  Speaker 3: Down back on me, fac down.
• 10:02
  Speaker 4: Okay, Umm, I'm gonna go with.
• 10:12
  Speaker 3: What do I want to go with? What do I
• 10:13
  Speaker 3: want to go with? Is this gonna be right? Is
• 10:16
  Speaker 3: this gonna be It really doesn't matter if you already
• 10:20
  Speaker 3: won twice sixteen fifty we.
• 10:22
  Speaker 2: Got five to day, sixteen fifty for Gusty let me
• 10:27
  Speaker 2: go fifteen hundred. Ooh, I was hoping you're gonna process riding,
• 10:32
  Speaker 2: but you did in sixteen ninety six. Now Augusty's gonna
• 10:35
  Speaker 2: go ahead and clean get the three of the five
• 10:38
  Speaker 2: out of the way.
• 10:40
  Speaker 3: Oh yeah, all right.
• 10:43
  Speaker 1: Our next new listing of the week is sits on
• 10:45
  Speaker 1: three point six acres in Adamsville fifty let's see, I
• 10:49
  Speaker 1: gotta get my glasses on, jeez, fifty three fifty three
• 10:53
  Speaker 1: Shady Crest Road. This was built in nineteen sixty nine,
• 10:57
  Speaker 1: four bedrooms, two baths, sixteen hundred and eight d square feet.
• 11:01
  Speaker 1: We are asking two hundred and thirty five thousand dollars
• 11:04
  Speaker 1: two thirty five three point six acres.
• 11:08
  Speaker 3: How about that? Nice? Yeah?
• 11:10
  Speaker 2: Three point six.
• 11:11
  Speaker 3: Also another listening by Kyle D. Good.
• 11:13
  Speaker 2: Kyle's on a roll this week. Kyle gets that let's go,
• 11:17
  Speaker 2: let's go two thirty five. Fifteen percent down, fifteen percent down. Yeah,
• 11:24
  Speaker 2: we had some numbers that were kind of close, so
• 11:26
  Speaker 2: we had to do some things with down payments.
• 11:28
  Speaker 3: Oh that's a good point. That's a good point.
• 11:30
  Speaker 5: So fifteen percent down on that, So you're putting down
• 11:33
  Speaker 5: like three thousand, financing two hundred thousand, So.
• 11:43
  Speaker 3: I don't know.
• 11:43
  Speaker 5: Thirty, Y're fixed. I'm just stalling for time here. Well, fifty,
• 11:52
  Speaker 5: I don't know what I'm doing.
• 11:55
  Speaker 2: John, You've been pretty good all day, Gus, he's just
• 11:57
  Speaker 2: been a haircut better.
• 12:00
  Speaker 3: I'm going to go with the.
• 12:05
  Speaker 2: Twelve hundred twelve hundred. Oh wow, y'all really got it
• 12:10
  Speaker 2: middled here. The actual payment was twelve twenty nine. There
• 12:12
  Speaker 2: will be no clean sweep today, John gets around.
• 12:15
  Speaker 5: Oh h.
• 12:17
  Speaker 3: Missed by now?
• 12:19
  Speaker 1: Just a hair you won by four dollars, just a
• 12:22
  Speaker 1: bit outside, all right. Our last new listing of the week,
• 12:26
  Speaker 1: This is man. Think about this building your we were
• 12:30
  Speaker 1: talking about building earlier. How about building a lake home
• 12:33
  Speaker 1: on Logan Martin Lake. We've got on Ansley Drive in
• 12:37
  Speaker 1: pel City on Logan Martin Lake, a one point three
• 12:41
  Speaker 1: eight acre lot with one hundred and twenty two feet
• 12:45
  Speaker 1: of water front or water frontage. We're asking three hundred
• 12:49
  Speaker 1: and fifty thousand for it. It is heavily wooded, so
• 12:53
  Speaker 1: you would have to, you know, do some dirt work.
• 12:57
  Speaker 1: And but I mean one hundred and twenty two feet
• 13:01
  Speaker 1: of waterfront access lake front with all the possibilities three
• 13:06
  Speaker 1: hundred and fifty thousand dollars.
• 13:07
  Speaker 2: Yeah, that's a great deal and convenient from everybody around here.
• 13:11
  Speaker 2: That's awesome. All right, So three hundred and fifty thousand dollars, yeah,
• 13:15
  Speaker 2: five percent down. I did not realize this was a
• 13:19
  Speaker 2: lot when I did the scenario, or I would have
• 13:20
  Speaker 2: tweaked it up.
• 13:21
  Speaker 3: Wait, let me ask you this. When you do on lots,
• 13:23
  Speaker 3: what do you typically have to put down?
• 13:25
  Speaker 2: So if you if you take it down with the constructs,
• 13:28
  Speaker 2: say you get a construction loan, and that's part of it,
• 13:30
  Speaker 2: is the lot takedown. So then so let's just say
• 13:32
  Speaker 2: for and you can get it. It can be five
• 13:35
  Speaker 2: to ten percent of the total construction price. Okay, okay,
• 13:38
  Speaker 2: But if you just need to buy a lot loan
• 13:39
  Speaker 2: and you want to decide what you're gonna do later,
• 13:41
  Speaker 2: a lot of times you're going to be looking at
• 13:43
  Speaker 2: twenty to twenty five percent down, gotcha. And then and
• 13:46
  Speaker 2: then you're also looking at different terms. I mean, somebody
• 13:48
  Speaker 2: might do a two or three year balloon, but they
• 13:51
  Speaker 2: really want you to start building on as quick as possible,
• 13:52
  Speaker 2: so you may get like a twelve month note or something.
• 13:54
  Speaker 2: But then most we're gonna be ten or fifteen year amorizations.
• 13:58
  Speaker 2: So anyways, just to throw that out there, but this
• 14:00
  Speaker 2: one's five percent. This one's five percent down for the
• 14:02
  Speaker 2: game visioning. The house is already there for the game,
• 14:05
  Speaker 2: and it's three hundred fift thousand purse price. It's five
• 14:07
  Speaker 2: percent down, and we're still in a thirty year am
• 14:09
  Speaker 2: So that goes back to gus three fifty five percent fifty.
• 14:15
  Speaker 3: All right, I'm gonna go nineteen twenty five, nineteen twenty five,
• 14:27
  Speaker 3: good year, good year.
• 14:30
  Speaker 5: Uh, I'm gonna put myself closer to uh, modern times.
• 14:35
  Speaker 5: You gonna go nineteen seventy seven, also a good year.
• 14:40
  Speaker 2: The actual payment was two thousand and forty seven, So
• 14:42
  Speaker 2: John gets the fifth one.
• 14:46
  Speaker 1: Two man ended strong my picking of the year of
• 14:49
  Speaker 1: my birth. But it was a little late. It was
• 14:51
  Speaker 1: a little late. Little We've got a we've got a
• 14:54
  Speaker 1: couple of homes that are going to be coming soon.
• 14:56
  Speaker 1: We've got we've got a home in the Hoover area
• 14:58
  Speaker 1: in Lake Wilburn that's going to be coming up for
• 15:00
  Speaker 1: seven hundred and twenty five thousand. That's a five bedroom
• 15:03
  Speaker 1: and four bath. We've also got one coming up in
• 15:07
  Speaker 1: let's see, well, yeah, I know that we also have
• 15:12
  Speaker 1: one coming up in the balance Tray neighborhood. I don't
• 15:14
  Speaker 1: have the price right off the top of my head,
• 15:16
  Speaker 1: but I think it's in the right around the four
• 15:18
  Speaker 1: hundred range. So we've got a couple of homes that
• 15:22
  Speaker 1: are going to be coming down the pipeline, which is
• 15:25
  Speaker 1: really cool. And uh, hey, guess what time it is.
• 15:29
  Speaker 1: That's right, it's testimonial time.
• 15:33
  Speaker 3: All right.
• 15:34
  Speaker 1: This first one comes comes from Glinda and it's about
• 15:39
  Speaker 1: John riddle work and when John Riddle was the best
• 15:41
  Speaker 1: choice I've made in a long time. He went above
• 15:44
  Speaker 1: and beyond for me. I knew absolutely nothing about selling
• 15:47
  Speaker 1: my home, and he took me step by step through
• 15:49
  Speaker 1: the process, never minded when I called with what was
• 15:53
  Speaker 1: probably a foolish question, always pleasant, competent, and goal oriented.
• 15:58
  Speaker 1: It only took two days of open houses to sell,
• 16:01
  Speaker 1: and I got a very good price. He was there
• 16:04
  Speaker 1: for the closing, and honestly, if he hadn't helped me,
• 16:06
  Speaker 1: I don't know what I would have done. Thanks so
• 16:08
  Speaker 1: many blessings to all involved at the Gusty Goulis group.
• 16:11
  Speaker 1: So what a wonderful review. Thank you so much Glinda
• 16:15
  Speaker 1: for the opportunity to help sell your home. And then
• 16:17
  Speaker 1: John Riddle, congratulations on.
• 16:20
  Speaker 3: Another five star review.
• 16:23
  Speaker 1: And last but not least, this is for This is
• 16:26
  Speaker 1: from Becky. Working with the team was extremely beneficial for
• 16:30
  Speaker 1: our entire buying selling process. We were advised several times
• 16:35
  Speaker 1: on negotiation points that worked out extremely well in our
• 16:39
  Speaker 1: favor on both sides of the table, in our buying
• 16:42
  Speaker 1: process and in our selling process. That we're relatable, easy
• 16:47
  Speaker 1: to get in contact with, honest and knowledgeable. We could
• 16:50
  Speaker 1: not have asked for a better team. So Becky, thank
• 16:53
  Speaker 1: you so much for the opportunity to help sell and
• 16:55
  Speaker 1: buy your home, and for the team, congratulations on another
• 17:01
  Speaker 1: five star review.
• 17:03
  Speaker 3: How about that? I like that. So that was testimonial
• 17:07
  Speaker 3: time today.
• 17:08
  Speaker 1: And a couple more five star reviews look out, lookout,
• 17:12
  Speaker 1: and the.
• 17:13
  Speaker 2: Next one be the next one.
• 17:15
  Speaker 3: Yeah, all right, y'all stay tuned.
• 17:17
  Speaker 1: We're gonna give a little bit of a market update
• 17:20
  Speaker 1: on mortgages on the real estate side right here on
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  Speaker 1: Bob Bart and Saul. Y'all stay tuned. Welcome back to
• 17:26
  Speaker 1: Bob Bart and Saul. Thanks so much for joining us
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  Speaker 1: each and every week. And you know, we've got been
• 17:33
  Speaker 1: having a lot going on in the mortgage in real
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  Speaker 1: estate market Brad Smith with Cross Country Mortgage.
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  Speaker 3: Uh, what what.
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  Speaker 1: Have you been seeing on the old interest rates?
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  Speaker 2: Yeah, so so the so the interest rates have have
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  Speaker 2: stayed pretty flat. We've had a little bit of improvement, so,
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  Speaker 2: I mean, we were a little bit better than the
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  Speaker 2: last time we were on air two weeks ago. And uh,
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  Speaker 2: but a lot of that is because we're still kind
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  Speaker 2: of there's a little more unknown on what's gonna happen
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  Speaker 2: next week in the in the FED meeting, and so
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  Speaker 2: it's not as as as cut and dry as Hey,
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  Speaker 2: the they're going to cut it again for sure. I mean,
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  Speaker 2: now the percentage is.
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  Speaker 3: Polymarket.
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  Speaker 2: Yeah, so it's like like ninety percent. But the market
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  Speaker 2: hasn't really reacted to it yet because I think there's
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  Speaker 2: still a couple of of of hawkish board members that
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  Speaker 2: that are going to try to try to keep it
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  Speaker 2: from happening. But you know, part of that is, like
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  Speaker 2: we've said, because the government shutting dog. We've mentioned, you
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  Speaker 2: know a lot of these numbers and stuff, we're trailing
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  Speaker 2: and lagging and trying to figure stuff out. And then
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  Speaker 2: also just the timing of it because we're you know,
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  Speaker 2: there's so many seasonal things going on right now, especially
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  Speaker 2: when when you're when your top two things that are
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  Speaker 2: really driving the rates are what you're on your employment
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  Speaker 2: status and unemployment numbers are, and then what inflation is. Well,
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  Speaker 2: it's the most seasonal employment at this time of the
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  Speaker 2: year because people are hiring up for Christmas and stocking
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  Speaker 2: and people. People need more more folks working, but they're
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  Speaker 2: not going to be permanently in the workforce, and so
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  Speaker 2: that kind of helps kew some numbers. And then there's
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  Speaker 2: you know, until we get the Christmas shopping numbers, we
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  Speaker 2: don't really know what's going to do GDP and piece
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  Speaker 2: in our PC numbers and core inflation numbers. So but
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  Speaker 2: but I do think that when the government decides next
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  Speaker 2: week and hope they do, to go ahead and drop
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  Speaker 2: it that other quarter we talked about a month and
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  Speaker 2: month and a half ago, that that that will be
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  Speaker 2: the solidifying mark to help mortgage rates come back down.
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  Speaker 2: We normally tell you it's already kind of built in.
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  Speaker 2: We may start seeing that, but we really haven't seen
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  Speaker 2: it built in yet like we have in previous months.
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  Speaker 2: But you know, the one thing we're just real quick
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  Speaker 2: I was gonna you know, you're talking about twenty twelve
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  Speaker 2: and just kind of talking about the market and different things.
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  Speaker 2: You know, right now, home prices, Uh So, the values
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  Speaker 2: declined point two percent nationwide in October, just for the
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  Speaker 2: month of October. So yes, which was in line with
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  Speaker 2: some of the seasonally adjusted measures we've seen. Year over year,
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  Speaker 2: home values are up one point one percent nationwide. That
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  Speaker 2: figure has been the decelerating and is the slowest year
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  Speaker 2: over year growth reported since twenty twelve. So I just,
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  Speaker 2: I just I just mentioned that because you know, we
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  Speaker 2: all these signs of un you know, employment is not
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  Speaker 2: strong right now by the numbers, I mean that those
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  Speaker 2: numbers keep showing they're not strong. Inflation is slowing. We've
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  Speaker 2: got the proof in the putting there. Even with the tariffs,
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  Speaker 2: the tariffs are not doing even to the extent, even
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  Speaker 2: though it's going to be a one time hit, it's
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  Speaker 2: still not as much as what they were originally predicting.
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  Speaker 2: So with home prices slowing, job looking weaker, and inflation flattening,
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  Speaker 2: there should be no debate in the room that the
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  Speaker 2: rates need to be dropped to court at the twenty
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  Speaker 2: five basis points at a minimum next week. And I
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  Speaker 2: guarantee you there'll be one or two board members that
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  Speaker 2: vote for fifty or seventy five just to be just
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  Speaker 2: to be that guy and prove a point.
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  Speaker 3: You know, I'd love to see.
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  Speaker 1: I mean, I can tell you that since the government
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  Speaker 1: shut down reopened, people have been more in tune. Like
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  Speaker 1: I've got folks that want to try to get in
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  Speaker 1: by the end of the year. I've got people that
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  Speaker 1: are ready to you know, they're just waiting for the
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  Speaker 1: right house. So and what will help them is if
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  Speaker 1: rates come down a little bit more lower, then either
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  Speaker 1: that allows them a more economical payment or they have
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  Speaker 1: more buying power yep, and they're willing to spend a
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  Speaker 1: little bit more money. So you know, it will absolutely
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  Speaker 1: benefit well in the.
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  Speaker 2: Gusts in the real estate market well, because the goal
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  Speaker 2: of that rate coming down is you're going to get
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  Speaker 2: more people that have been on the fence to list
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  Speaker 2: their homes. So now all of a sudden, you've got
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  Speaker 2: you know, you've got more buyers and more inventory. It's
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  Speaker 2: going to work itself out as far as how it appreciates.
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  Speaker 2: But now all of a sudden, these people are going
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  Speaker 2: to have a more inventory to look at because more
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  Speaker 2: people are in the market and listing their homes and
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  Speaker 2: finding the perfect house. So it's it's just it would
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  Speaker 2: just do so much for everyone that needs to be
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  Speaker 2: doing something to just get that little bit of relief. Again,
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  Speaker 2: like we've talked about, if we could just get the
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  Speaker 2: average thirty year fixed in, you know, even if it's
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  Speaker 2: the upper fives, just to see it, I think, I
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  Speaker 2: mean the mental and just kind of that that dopamine
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  Speaker 2: effectacy in it and getting it back into that range
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  Speaker 2: I think would definitely really hit that storm you've been
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  Speaker 2: talking about.
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  Speaker 3: Yeah, for sure, for sure.
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  Speaker 1: Well I'll tell you what, I'm super excited about what
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  Speaker 1: you know, the next year is going to look like
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  Speaker 1: we are, Like I think within the next week we're
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  Speaker 1: going to be officially over what we did last year
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  Speaker 1: and are in terms of home soul not where we're
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  Speaker 1: ahead of our pace. In terms of volume closed. I
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  Speaker 1: think if everything closes in December, we're going to close
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  Speaker 1: around thirty homes, which is a good month, and that's
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  Speaker 1: for about I don't know, seven some odd million a
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  Speaker 1: little bit higher. So you know, we're in in the
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  Speaker 1: year strong and you know it's going to be interesting
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  Speaker 1: to see. I mean just for me out showing houses.
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  Speaker 1: I mean, I've got whether it's investors, I've got first
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  Speaker 1: time home buyers, I've got second time home buyers. There's
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  Speaker 1: a bunch of people that are out and about looking
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  Speaker 1: for their perfect place. And so I think we're gearing
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  Speaker 1: up for a really good year in twenty twenty six.
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  Speaker 1: I think we're from an agent standpoint, I think we're
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  Speaker 1: going to start seeing more agents continue to get out
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  Speaker 1: of the business because it has become a lot more
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  Speaker 1: difficult in my opinion, selling houses, and so the folks
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  Speaker 1: that have come in thinking it's super easy are probably
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  Speaker 1: going in and finding something else to do. And your
• 23:38
  Speaker 1: pros that you've been doing it for a while, you know,
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  Speaker 1: they're just on cruise control making things happen. And I
• 23:44
  Speaker 1: was having a conversation with a guy. He's like, you know,
• 23:47
  Speaker 1: in every every market, you were surviving and thriving. And
• 23:54
  Speaker 1: I was like, man, that's a great compliment. I appreciate
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  Speaker 1: that because we do see a lot in the real
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  Speaker 1: estate world hi lows, and.
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  Speaker 3: We just keep on a truck and keep on a trucking.
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  Speaker 1: So Hey, if you've been listening and you like what
• 24:06
  Speaker 1: you're hearing and want to know your options about whether
• 24:09
  Speaker 1: buying or selling a house. We'd love to have a
• 24:10
  Speaker 1: conversation with you. You can go to Gustygoulisgroup dot com or
• 24:14
  Speaker 1: you can call or Tex two O five five four
• 24:16
  Speaker 1: two nineteen ninety six. And then if you want to
• 24:19
  Speaker 1: look at for a mortgage Bradsmith Loans dot com. So
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  Speaker 1: thanks so much for joining us today. We'll catch you
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  Speaker 1: next time.