Episode Transcript
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Speaker 1 (00:00):
All right, welcome to Bob Bart and Soul. Thanks so
much for joining us today. Hanging out in the studio
as always. Brad Smith with Cross Country Mortgage. Was that, Brad?
Speaker 2 (00:10):
How are you great man? How are y'all?
Speaker 1 (00:12):
School is about to be in sessions? I am pumped.
Speaker 2 (00:15):
Let's go.
Speaker 1 (00:16):
I'm excited. Trip is going into the third grade, Max
is going into first grade.
Speaker 2 (00:21):
Yeah, and what about y'all's Well, we've got one it's
gonna be a senior at Auburn.
Speaker 1 (00:27):
Wow, that's wild.
Speaker 2 (00:29):
One that's gonna be a junior. I celebrated her birthday, Yeah,
twenty one. And got one that's gonna be sixteen next week,
Oh my gosh.
Speaker 1 (00:36):
Uh.
Speaker 2 (00:37):
And then he's gonna be a junior. And then we've
got sixth grade and fourth grade.
Speaker 3 (00:41):
Woo.
Speaker 2 (00:42):
So it's all fun times.
Speaker 1 (00:44):
Ahead, look you out, look out man. There's a lot
going on.
Speaker 2 (00:48):
It is that, it's a lot of it's a lot changing,
and it's just hard to believe, just hard to believe. Well,
good stuff.
Speaker 1 (00:56):
I'm excited for the year to I'm just excited for
normalcy and some consistency back in our schedule. So uh,
and I think that's gonna have an impact in our
real estate world. Like, I think we're gonna start gonna
start getting more show in. I think we're gonna start
seeing more activity. I can already feel more activity because
we put nine homes under contract this past week, so
(01:18):
I got to give some shout outs. So how about
I like this, we had let's see where's my list?
All right, Isaac put three homes under contract this week,
So Isaac Marvin, congratulations, man, that's got to be your
best week ever. So three homes under contract in a
(01:40):
week not as great. And then Blake Johnson just put
his first home under contract, So excited to see that.
And I believe that he's got an offer coming in
or on one of his listings. So excited about that.
Ashley Stags, Kyle Bedgood to McDaniel's free to Whitley, and
(02:01):
Tim Lance, congratulations on your contracts this week. So I
like a nine contract week for sure. Nine contract week
is like very nice, very nice. I mean, like we
we need, I mean, we could we could use that
every week. I'd be very happy with that. So all right, Well,
(02:27):
I know y'all are probably excited, you know, listening for
school to get back in session, and if you've got
kids or whatnot, and going back to whether it's school
or college.
Speaker 2 (02:40):
Well, and you know what, what what does this start triggering?
What's the countdown now that everybody really cares about when
school's college football exactly? So you know that's that's where
I think, you know, and then and then I mean,
and that you talk about when we start going like
what everybody's kind of looking from like a Monday through
Saturday blocks how fast the fall was by I mean
(03:01):
all all, I know, we talk about this a lot,
but like it's just still mind boggling sometimes just to
think about all of it and be like, I mean,
I can already see myself going like, I mean, it's
twenty twenty six. Yeah, I mean, because it is about
to be a blur.
Speaker 1 (03:16):
So let me tell you what my brother in law did.
Speaker 2 (03:18):
I can't wait.
Speaker 1 (03:20):
So my brother in law teaches at Bama. He's in
the engineering department and they have an engineering department. Yeah,
oh yeah absolutely, And so so he gets our tickets.
So I get like faculty staff tickets for Bama games
and cool, it's four tickets that we usually get. It's
(03:41):
for my brother in law, my father in law, me,
and typically I bring like one of my boys. Well
were my father in law are talking like, Hey, we
hadn't heard really anything about these tickets this year, and
so guess what happened. Brother in law forgot to order
(04:02):
the tickets.
Speaker 2 (04:03):
I may have done something similar this year.
Speaker 1 (04:05):
Oh no, so you didn't get tickets either.
Speaker 2 (04:09):
I forgot to order my letter tickets. And uh, I'm
gonna try to say if I can't get back and
get something done, but I think I've missed it.
Speaker 1 (04:16):
Well, here's the good news. So the good news is, well,
faculty staff tickets, you can't sell it for above face value,
so and not everybody's going to be going to games.
So I feel like it, you know, maybe throughout the
faculty staff crew, we can get some of our tickets
at face value. But I don't necessarily want to be
spending big money for tickets. But I enjoy taking usually
(04:41):
my my boys to the game, Like usually I don't.
I don't take both of them to the game because
that's just way too much, but usually one of them
I kind of take turns.
Speaker 2 (04:51):
Yeah, So, like I was gonna ask, does one care
more than the other? Like does one like when it's
I want to care? Okay, I don't think either of
them care at least right now. So it's not hard
to like be like, all right, Trip, you want to
go to this one or Max, and like when I'm like,
I'll go, and then that's not normally like I want
to go to this one. It's not normally like a battle.
Speaker 1 (05:08):
Yeah, yeah, it's not a battle. It's not bad.
Speaker 2 (05:10):
That's cool.
Speaker 1 (05:11):
Yeah. So it's worked out, Yeah, and it.
Speaker 2 (05:13):
Gets you know, it's kind of nice to have that
one on one time and break away every once in
a while and have those moments and stuff. It's just
good in general.
Speaker 1 (05:20):
So that's for sure for sure. All right, So all right,
we got some new listenings and we have one that's
like crazy, crazy awesome house that we're going to hold
open today. So let's let's do our mortgage game, like
guess the mortgage payment, and Brad please tell our listeners
the rules.
Speaker 2 (05:37):
Gus, he's going to go over some properties and then
he's going to give us all the details and at
the very end, he's going to give us the list
price on that property, at which time I will give
him and John mount Sarstein producer a potential down payment
that a bar may make on that purchase price. They
will then take turns guessing the thirty year fixed monthly
payment of principal and interest only. So nothing else to
(05:59):
do but get a property. Yep, waiting on. You need numbers.
Speaker 1 (06:05):
All right, All right, here goes. We've got our first
new listing of the week. Is also going to be
opened this afternoon from two to four. Three thousand and
five Overlook Lane. This is eight thousand square feet eight thousand,
six hundred and eighty four square feet, five bedrooms, six
(06:27):
and a half baths, listed for one point five million.
Two thousand and eight is when it was built. It
sits on three point three acres in the Chapel Hills neighborhood.
This is three thousand and five Overlook In Lane in Fultondale,
and it's right beside five Mile Creek. It's got this
incredible pool. If you look at this house, it's got
(06:50):
six columns in the front. This covered front porch with
six columns looks like you're rolling up to like one
of the attorney houses at Bama. It's got eight car garage,
four on the main, it's got four in the basement,
or actually two in the basement, two in the poolhouse
and it's just one of those houses that you just
(07:10):
want to check out.
Speaker 2 (07:11):
Can I ask a dumb question before you give us
this price?
Speaker 1 (07:14):
No?
Speaker 2 (07:15):
I can't.
Speaker 1 (07:15):
Well let me, yeah, I guess, go ahead, No I don't.
I'm not going to hear them.
Speaker 2 (07:21):
So, so, like on a house, So when you go
over the listings, is it is it like is it
truly six full baths and one half bath? Or is
it like four full bats and three half baths and
it's one and a half.
Speaker 1 (07:32):
So no, it's you.
Speaker 2 (07:34):
See the house that big. I figured there should be
more than one half bath and I didn't know if
you just added them all up or the launder room.
The difference.
Speaker 1 (07:41):
The launder room has three washer dryer connections.
Speaker 2 (07:44):
Well there you go. Yeah, right, so that answers that.
That's the answer to the question. Okay, anyways, I just up.
Speaker 1 (07:51):
It's one point five million.
Speaker 2 (07:53):
Yeah, that's awesome.
Speaker 3 (07:54):
I get what you're saying though, because you gotta three
half bathrooms add up to be one and a half bathrooms.
Speaker 2 (07:58):
Yes you're saying, yeah, yeah, that's awesome. That was my
question is what if like, yeah, yeah, he's not there's
one half bath, it's.
Speaker 3 (08:04):
There's only one half bath bath it's six or four yeah,
got it? Okay, sorry, real estate math.
Speaker 2 (08:10):
Well, when the house is that big and all of
a sudden, I start thinking like that's this It was
kind of uncharted territory, so that's yeah, that's it's really
cool though. Okay, one point five million. We're gonna put
twenty five percent down on one point five million.
Speaker 1 (08:22):
Yeah, twenty five percent down one point five million? Holy cow,
what is it? Fifteen thirty thirty seventy five, So you're
doing a one point two one one point one five
million dollar alone. Holy col All right, let's see what
we got. All right, one and a half million. Go
(08:47):
see Carla Dilaberto this afternoon between two and four today,
and this is hosting. So congratulations.
Speaker 2 (08:52):
That's awesome, Carlo. I think he's stalling.
Speaker 1 (08:55):
I'm definitely stalling because I have no idea.
Speaker 2 (08:58):
This is the biggest one we've done. I think this
is the bigest one I've done since I've been on
the show.
Speaker 1 (09:08):
I'm gonna go with I'm gonna go with seven thousand dollars.
Speaker 3 (09:19):
I have absolutely nothing to base this on. So the
question is lower or higher?
Speaker 2 (09:28):
Sixty five hundred seventy six seventy four, Gusty gets round one.
Don't let the Benie drama on that one high or
lower sus He said the sixth I was ready to.
Speaker 1 (09:38):
Roll seventy six, seventy five, all right. Our next new
listing is in the Insley area eighteen twenty five Eighteenth
Street in Birmingham, built in nineteen thirty five. This is
a three bedroom, one bath home for thirteen hundred and
sixteen square feet. We are asking ninety nine thousand, So
this one is tenant occupied at rents for twelve hundred
(10:01):
a month. So it beats that one percent rule that
we often look for as investors.
Speaker 2 (10:07):
Boy does it.
Speaker 1 (10:08):
So if you're looking at, you know, adding to your
rental portfolio, give TJ. Cunningham on our team a call
or myself for eighteen twenty five eighteenth Street. So it
is tenant occupied twelve hundred dollars a month is the rental.
Speaker 2 (10:23):
Yeah that's good. I'd be a good entry one too
for a first time, or it's been looking and trying
to get into something they didn't have something it wants
to get going, all right.
Speaker 1 (10:29):
Yeah, ninety nine thousand, ninety nine thousand.
Speaker 2 (10:32):
Three percent down, three percent down, John.
Speaker 3 (10:37):
I'm thinking probably eight hundred dollars, which would be really
good if it was a twelve hundred dollars rental. So
I'm saying I'm gonna say eight hundred.
Speaker 1 (10:51):
I'm gonna go with six seventy five.
Speaker 2 (10:54):
The actual payment was six hundred and twenty two dollars.
Gusty gets round two.
Speaker 1 (10:59):
There's some cash flow right there.
Speaker 2 (11:01):
Yes, that's what that's what I was saying. I was like,
that's good stuff, all right.
Speaker 1 (11:06):
And our last new listing of the week is in
the Penson area and the Heather Point neighborhood. Built in
two thousand and three fifty nine seventy seven, Princess Boulevard
is three bedrooms and two and a half baths with
seventeen hundred and twelve square feet. It's got a one
car garage. And we are asking two hundred and fourteen thousand,
two hundred and fourteen thousand dollars to fourteen.
Speaker 2 (11:31):
Let's put five percent down, five percent down, back to Gusty,
see if he can close out the sweep.
Speaker 1 (11:38):
All right, five percent down, all right, I'm gonna go
with thirteen hundred.
Speaker 3 (11:53):
That feels high to me, but I've been wrong the
entire day so I don't know, twelve.
Speaker 2 (11:59):
Hundred thirteen eighteen, Gusty gets the clean sweet.
Speaker 1 (12:07):
Yeah, look at that?
Speaker 2 (12:10):
Would you look at it?
Speaker 1 (12:11):
Just another day? That's right, that's right.
Speaker 2 (12:14):
Hey.
Speaker 1 (12:14):
We've also got one coming soon in the Center Point
area on sixteenth Court Northwest, a three to one and
a half for one hundred and forty five thousand. And
I know we've got properties coming up in Helena and
Alabaster and in the Jefferson County area that is unincorporated
near Hoover. So we've got some more stuff that's gonna
(12:36):
be coming down the market, coming down the pipeline to
the market. We've also got a quick buyer need Graham
on our team is looking for a two bedroom, one
and a half bath condo or town home anywhere from
one hundred and fifty to two hundred and five thousand.
That's gonna be our most immediate need. I do have
people looking in the Edgewood School district. I've got multiple
(12:57):
eight or I've got multiple people looking up to three
hundred and fifty thousand, and I also have somebody looking
in the Hoover area up to four hundred thousand, but
they need one level living so it can be a
garden home. It needs to be anywhere from fifteen hundred
to eighteen hundred square feet and they'd like something that
like a nice lot or you know that she likes
(13:20):
to garden things like that, So that's going to be
some of the things that she's looking for. So yeah,
if you've got any buyer, if you've got any things
that match those criteria, go to Gustygoulisgroup dot com or
you can also call or text two oh five five
four to nineteen ninety six, which is our office number. Hey,
guess what time it is. That's right, it's testmial time.
(13:45):
Oh my gosh, that was loud. I feel like that
we're dragging a little. I don't fuck that. The internet
is okay, I had I had to give a little
extra O well this one and do it again. No, No,
we're goodding, We're goodding, We're good all right?
Speaker 2 (13:56):
Ready for this?
Speaker 1 (13:57):
Five star review is for Tony. Tony is awesome, sold
our home quickly, very pleased and would highly recommend him
if you're looking to sell. Tony is your guy made
me a believer? How about that? Thank you Tony for
being so great and getting it done for us. We
appreciate you so much, so thank you for the opportunity
to sell your property. And congratulations to Tony on another
(14:20):
five star review. And this one is for Graham. Graham
showed us any house we wanted to see and made
our schedules work no matter of the time or day.
He found us exactly what we wanted in the best location.
He also made the entire process so quick and easy.
So congratulations on your new home and Graham, congratulations on
(14:41):
another five star review. And last but not least today,
Oh yeah, the triple threats. Yeah. I highly recommend Kyle
Bedgod to anyone looking for a reliable and trustworthy real
estate agent. Kyle went above and beyond to help me
find my home. His expertise and market expertise and markets
area was instrumental and determining to find a new home
(15:04):
for me and my daughters. I am thankful for the
agent mister Kyle is and his aspects with helping me
in my home buying journey. He was there from beginning
to end, very hands on, involved in all aspects of
the closing. It was times I wanted to give up,
but Kyle didn't give up on men. I love that
his patients. Humble spirit, knowledgeable approach helped me through this process.
(15:28):
Kyle is the top agent that you need. Don't hesitate
my agent as your agent. Man, what a review. Congratulations
on your new home and Kyle, congratulations on another five
star review. How about that?
Speaker 2 (15:41):
The triple threat, the triple threat five star you know
stars that is that's fifteen that's fifteen stars.
Speaker 1 (15:47):
That's fifteen stars. It's not just.
Speaker 3 (15:49):
Three five stars. No, like the half baths. Yeah, no,
it's all stars.
Speaker 2 (15:54):
Baby.
Speaker 1 (15:55):
All right, Well, we're gonna head to break. We're gonna
give you a little bit of what we're seeing in
the markets, within the mortgage world, in the real estate
world right here on Bob barn and Sold. Stay tuned,
all right, welcome back to Bob bart and Sold. Thanks
so much for joining us each and every Sunday. Brad
Smith is hanging out with us in the studio from
(16:17):
Cross Country Mortgage and uh, man, you know, we had
uh we had big news from the Fed. They met
this past week. They did not move the dial. But
so give me, tell me, tell me, but tell me the.
Speaker 2 (16:34):
Butt for the first time in thirty two years. So
I think they meet four times a year. Yeah, some extras.
So the first time in thirty two years that you
had two FED governors Wallern Bowman descent, which means they
went against and voted actually to for the rate cut. Ah,
(16:55):
they knew it wasn't gonna happen, but they did not
go along with the UH with the flow. They want
will be on record that they that they are going
they indeed think we needed to cut rates now and
not wait. There's been plenty signs of the slowdown, and
with ADP actually showed job losses going to thirty three
(17:18):
thousand opposed to gains. The bile E report showed like
three percent growth, which was about what they or I
wanna say, it's like two hundred thousand jobs, which was
about what they expected. Inflation is not going to make
many big moves because the inflation numbers were so low
last year from some of the changes and some of
(17:39):
the rate decreases, so it's actually worked out. But the
numbers are gonna be replacing on these coming things are
already low, so you're not going to see a bunch
of inflation changes as far as what we're going to
react to. But yeah, I think everything shows I mean,
for the first time, like a lower lower income households.
Credit card debt was increased the lease than it has
(18:00):
like ten or fifteen years, which just shows that buying
and spending is slowing. And so I mean, the really
the fear is and then I mean, Pole will even
recognize that the tariffs, the tariffs that they're worried about,
it's only going to be a one time hit to
the numbers. So after that it's just going back to normal.
(18:21):
So like that first hit is a one time hit
that's going to change anything. So like we're all worried
about how this tariff thing is going to work out,
but there's still all this other economy that's going on
around it, and it's showing everything and signs of you
need to cut rates, you need to cut rates. He
even admitted yes day being restrictive Yesterday, Wednesday, Tuesday when
everyone meeting was and and and even went into like
(18:44):
kind of change their verbiage of the last meeting. They
said that they were showing solid growth. We're still showing
solid growth and now it's moderate to slowing growth. So
he's seeing it. He's noticing that we're still going to
be on a wait and see approach, which is is
how things can get bad. And so it looks like
now we won't have another attempt at a rate cut
(19:05):
till September, and which I feel like again, you could
go back to a show about one year ago today
and hear let me say exactly similar to the same
exact thing, and so it's kind of wild thinking back,
Like I remember the meeting and I think I think
the meeting last year was on July thirtieth, and I
think that sticks out in my head, and they didn't
(19:26):
do anything then, and everybody kind of said why not.
And then it was we're gonna have, you know, some
rate cuts at the end of the year, and then
thought we were gonna have more going into this year
than it kind of became. Then we had the election,
President changed, fed's tone changed, they were more dovish. Then
all of a sudden they came out in January more hawkish,
which was not to hold the rates and uh so
(19:48):
we'll see, uh, I mean, we're still I mean, the
markets actually responded pretty well on the bond and treasury
side for US, So I mean, and they they've talked
about are going to stay the same again the same
and get a little better. So I think there was
some a little bit of movement to make for rates
to worsen before the meeting, not really sure where they
were going to go, and then once they saw it, it
(20:09):
was like, Okay, they didn't do rates, but they said
everything else they would normally have said to cut rates,
So we we're gonna have to. So the market reacting
it was good for the bond side and the mortgage
rates to drop. So uh so we're still sitting in
the mid high upper sixes. But and I don't see
a whole lot of stuff that with side something huge
coming out. There's not gonna be a ton that's gonna
(20:30):
make it move. That's kind of my point of going
back into the inflation. Inflation stuff not gonna it's not
gonna change much because of the numbers that were replacing
and are already so low, it's gonna be hard to
show a true decrease until we get back to the
start of twenty twenty six. So there's not a you know,
you've got some core PC numbers that you'll get and
then then then job reports and uh those are pretty
much the main factors that can that can impact it.
(20:51):
So I see it's kind of settling into this probably
you know, for the you know, maybe getting down a
little lower into the maybe hopefully say in the mid
to lower sixes instead of mid higher sixes. I'll be
surprised if we got more than that, you know, over
the next four or five six months, and even maybe
in the next year, just because again I think we're
just all kind of guessing at what some of this
is gonna The long term effects of some of the
(21:12):
stuff's going to be so so a lot of a
lot of word word salid there, but it's it's a
lot of moving parts without a lot of action.
Speaker 1 (21:20):
Well, I think that some of it was even like
the tariffs still impacting that. I think some of the
decision making of the Feds.
Speaker 2 (21:28):
And again, the the the change in the in the
FED funds rate is really looking at like you're projecting
forward and trying to avoid things to happen. And right
now this Fed president appears to we want to see
something happen and then we'll we'll react. Instead of being proactive,
we're being reactive, right, and so that's a very short
(21:50):
sighted look. And again I think we've mentioned here before
this is going to be his last year.
Speaker 1 (21:54):
Well, I mean I watched like some of his statements
and it was just basically like, you know, we'll make
changes when we need to make changes. Yeah, it's very reactionary,
not proaction, you know, proactive.
Speaker 2 (22:06):
Like saying we know some of these numbers are skewed
from back from two years ago. We know some of
the things were kind of interesting last year. So we're
getting some you know, we're getting mixed readings on some stuff.
We know that we're restrict I mean he said that
he knew that they knew they were restrictive. Well, if
you know you're being restrictive, let's go ahead and make
a small adjustment. Nobody asking you to make a fifty
bip decrease or or do something that's really reactive. Go
(22:31):
ahead and do it and then then see where it goes.
And then you don't like doing things September if you
don't want to, So that that waiting to see what
else is going to play out is just you know,
any may end up being right, but it's just short
sighted in my opinion.
Speaker 1 (22:43):
Yeah, yeah, absolutely, And.
Speaker 2 (22:47):
That didn't mean to take up so much time on that,
but it was just very interesting because it was like
if you just read the quotes and just read through
it with no in thing. Okay, they decrease rates in
my opinion, I mean, and then to have two to
have two things governors sent out of it and pull
and actually go against the grain.
Speaker 1 (23:04):
Now when they do that, do they do they talk
about what they would have recommended.
Speaker 2 (23:09):
Twenty feah that they both recommended a quarter percent decrease.
And so when you have something happened for the first
time in thirty two years, again that goes back to
like it's really or we're really in a short window.
And when you start looking at historical stuff, but it's
so my.
Speaker 1 (23:22):
Guesses will probably at this point, if if you've got
some of that, the next one is probably gonna be
a quarter point.
Speaker 2 (23:27):
Yeah, they're saying we're not going along with the with
just falling in lines. Yeah, we're going on record that
we voted for a decrease.
Speaker 1 (23:34):
Well, I think from my standpoint, I think now with
school coming back in the secession this week, we're going
to start getting busier and I'm excited about that.
Speaker 2 (23:42):
Me so too.
Speaker 1 (23:44):
Hey, for any of your real estate needs, go to
Gustygulisgroup dot com or Bradsmith Loans dot com. We'd love
the opportunity to chat with you, work with you, see
if we'd be a good fit together. And thanks so
much for listening. We'll catch you next time. Bye bye,
All right, welcome to Bob Bart and Soul. Thanks so
much for joining us today. Hanging out in the studio
as always. Brad Smith with Cross Country Mortgage. Was that, Brad?
Speaker 2 (00:10):
How are you great man? How are y'all?
Speaker 1 (00:12):
School is about to be in sessions? I am pumped.
Speaker 2 (00:15):
Let's go.
Speaker 1 (00:16):
I'm excited. Trip is going into the third grade, Max
is going into first grade.
Speaker 2 (00:21):
Yeah, and what about y'all's Well, we've got one it's
gonna be a senior at Auburn.
Speaker 1 (00:27):
Wow, that's wild.
Speaker 2 (00:29):
One that's gonna be a junior. I celebrated her birthday, Yeah,
twenty one. And got one that's gonna be sixteen next week,
Oh my gosh.
Speaker 1 (00:36):
Uh.
Speaker 2 (00:37):
And then he's gonna be a junior. And then we've
got sixth grade and fourth grade.
Speaker 3 (00:41):
Woo.
Speaker 2 (00:42):
So it's all fun times.
Speaker 1 (00:44):
Ahead, look you out, look out man. There's a lot
going on.
Speaker 2 (00:48):
It is that, it's a lot of it's a lot changing,
and it's just hard to believe, just hard to believe. Well,
good stuff.
Speaker 1 (00:56):
I'm excited for the year to I'm just excited for
normalcy and some consistency back in our schedule. So uh,
and I think that's gonna have an impact in our
real estate world. Like, I think we're gonna start gonna
start getting more show in. I think we're gonna start
seeing more activity. I can already feel more activity because
we put nine homes under contract this past week, so
(01:18):
I got to give some shout outs. So how about
I like this, we had let's see where's my list?
All right, Isaac put three homes under contract this week,
So Isaac Marvin, congratulations, man, that's got to be your
best week ever. So three homes under contract in a
(01:40):
week not as great. And then Blake Johnson just put
his first home under contract, So excited to see that.
And I believe that he's got an offer coming in
or on one of his listings. So excited about that.
Ashley Stags, Kyle Bedgood to McDaniel's free to Whitley, and
(02:01):
Tim Lance, congratulations on your contracts this week. So I
like a nine contract week for sure. Nine contract week
is like very nice, very nice. I mean, like we
we need, I mean, we could we could use that
every week. I'd be very happy with that. So all right, Well,
(02:27):
I know y'all are probably excited, you know, listening for
school to get back in session, and if you've got
kids or whatnot, and going back to whether it's school
or college.
Speaker 2 (02:40):
Well, and you know what, what what does this start triggering?
What's the countdown now that everybody really cares about when
school's college football exactly? So you know that's that's where
I think, you know, and then and then I mean,
and that you talk about when we start going like
what everybody's kind of looking from like a Monday through
Saturday blocks how fast the fall was by I mean
(03:01):
all all, I know, we talk about this a lot,
but like it's just still mind boggling sometimes just to
think about all of it and be like, I mean,
I can already see myself going like, I mean, it's
twenty twenty six. Yeah, I mean, because it is about
to be a blur.
Speaker 1 (03:16):
So let me tell you what my brother in law did.
Speaker 2 (03:18):
I can't wait.
Speaker 1 (03:20):
So my brother in law teaches at Bama. He's in
the engineering department and they have an engineering department. Yeah,
oh yeah absolutely, And so so he gets our tickets.
So I get like faculty staff tickets for Bama games
and cool, it's four tickets that we usually get. It's
(03:41):
for my brother in law, my father in law, me,
and typically I bring like one of my boys. Well
were my father in law are talking like, Hey, we
hadn't heard really anything about these tickets this year, and
so guess what happened. Brother in law forgot to order
(04:02):
the tickets.
Speaker 2 (04:03):
I may have done something similar this year.
Speaker 1 (04:05):
Oh no, so you didn't get tickets either.
Speaker 2 (04:09):
I forgot to order my letter tickets. And uh, I'm
gonna try to say if I can't get back and
get something done, but I think I've missed it.
Speaker 1 (04:16):
Well, here's the good news. So the good news is, well,
faculty staff tickets, you can't sell it for above face value,
so and not everybody's going to be going to games.
So I feel like it, you know, maybe throughout the
faculty staff crew, we can get some of our tickets
at face value. But I don't necessarily want to be
spending big money for tickets. But I enjoy taking usually
(04:41):
my my boys to the game, Like usually I don't.
I don't take both of them to the game because
that's just way too much, but usually one of them
I kind of take turns.
Speaker 2 (04:51):
Yeah, So, like I was gonna ask, does one care
more than the other? Like does one like when it's
I want to care? Okay, I don't think either of
them care at least right now. So it's not hard
to like be like, all right, Trip, you want to
go to this one or Max, and like when I'm like,
I'll go, and then that's not normally like I want
to go to this one. It's not normally like a battle.
Speaker 1 (05:08):
Yeah, yeah, it's not a battle. It's not bad.
Speaker 2 (05:10):
That's cool.
Speaker 1 (05:11):
Yeah. So it's worked out, Yeah, and it.
Speaker 2 (05:13):
Gets you know, it's kind of nice to have that
one on one time and break away every once in
a while and have those moments and stuff. It's just
good in general.
Speaker 1 (05:20):
So that's for sure for sure. All right, So all right,
we got some new listenings and we have one that's
like crazy, crazy awesome house that we're going to hold
open today. So let's let's do our mortgage game, like
guess the mortgage payment, and Brad please tell our listeners
the rules.
Speaker 2 (05:37):
Gus, he's going to go over some properties and then
he's going to give us all the details and at
the very end, he's going to give us the list
price on that property, at which time I will give
him and John mount Sarstein producer a potential down payment
that a bar may make on that purchase price. They
will then take turns guessing the thirty year fixed monthly
payment of principal and interest only. So nothing else to
(05:59):
do but get a property. Yep, waiting on. You need numbers.
Speaker 1 (06:05):
All right, All right, here goes. We've got our first
new listing of the week. Is also going to be
opened this afternoon from two to four. Three thousand and
five Overlook Lane. This is eight thousand square feet eight thousand,
six hundred and eighty four square feet, five bedrooms, six
(06:27):
and a half baths, listed for one point five million.
Two thousand and eight is when it was built. It
sits on three point three acres in the Chapel Hills neighborhood.
This is three thousand and five Overlook In Lane in Fultondale,
and it's right beside five Mile Creek. It's got this
incredible pool. If you look at this house, it's got
(06:50):
six columns in the front. This covered front porch with
six columns looks like you're rolling up to like one
of the attorney houses at Bama. It's got eight car garage,
four on the main, it's got four in the basement,
or actually two in the basement, two in the poolhouse
and it's just one of those houses that you just
(07:10):
want to check out.
Speaker 2 (07:11):
Can I ask a dumb question before you give us
this price?
Speaker 1 (07:14):
No?
Speaker 2 (07:15):
I can't.
Speaker 1 (07:15):
Well let me, yeah, I guess, go ahead, No I don't.
I'm not going to hear them.
Speaker 2 (07:21):
So, so, like on a house, So when you go
over the listings, is it is it like is it
truly six full baths and one half bath? Or is
it like four full bats and three half baths and
it's one and a half.
Speaker 1 (07:32):
So no, it's you.
Speaker 2 (07:34):
See the house that big. I figured there should be
more than one half bath and I didn't know if
you just added them all up or the launder room.
The difference.
Speaker 1 (07:41):
The launder room has three washer dryer connections.
Speaker 2 (07:44):
Well there you go. Yeah, right, so that answers that.
That's the answer to the question. Okay, anyways, I just up.
Speaker 1 (07:51):
It's one point five million.
Speaker 2 (07:53):
Yeah, that's awesome.
Speaker 3 (07:54):
I get what you're saying though, because you gotta three
half bathrooms add up to be one and a half bathrooms.
Speaker 2 (07:58):
Yes you're saying, yeah, yeah, that's awesome. That was my
question is what if like, yeah, yeah, he's not there's
one half bath, it's.
Speaker 3 (08:04):
There's only one half bath bath it's six or four yeah,
got it? Okay, sorry, real estate math.
Speaker 2 (08:10):
Well, when the house is that big and all of
a sudden, I start thinking like that's this It was
kind of uncharted territory, so that's yeah, that's it's really
cool though. Okay, one point five million. We're gonna put
twenty five percent down on one point five million.
Speaker 1 (08:22):
Yeah, twenty five percent down one point five million? Holy cow,
what is it? Fifteen thirty thirty seventy five, So you're
doing a one point two one one point one five
million dollar alone. Holy col All right, let's see what
we got. All right, one and a half million. Go
(08:47):
see Carla Dilaberto this afternoon between two and four today,
and this is hosting. So congratulations.
Speaker 2 (08:52):
That's awesome, Carlo. I think he's stalling.
Speaker 1 (08:55):
I'm definitely stalling because I have no idea.
Speaker 2 (08:58):
This is the biggest one we've done. I think this
is the bigest one I've done since I've been on
the show.
Speaker 1 (09:08):
I'm gonna go with I'm gonna go with seven thousand dollars.
Speaker 3 (09:19):
I have absolutely nothing to base this on. So the
question is lower or higher?
Speaker 2 (09:28):
Sixty five hundred seventy six seventy four, Gusty gets round one.
Don't let the Benie drama on that one high or
lower sus He said the sixth I was ready to.
Speaker 1 (09:38):
Roll seventy six, seventy five, all right. Our next new
listing is in the Insley area eighteen twenty five Eighteenth
Street in Birmingham, built in nineteen thirty five. This is
a three bedroom, one bath home for thirteen hundred and
sixteen square feet. We are asking ninety nine thousand, So
this one is tenant occupied at rents for twelve hundred
(10:01):
a month. So it beats that one percent rule that
we often look for as investors.
Speaker 2 (10:07):
Boy does it.
Speaker 1 (10:08):
So if you're looking at, you know, adding to your
rental portfolio, give TJ. Cunningham on our team a call
or myself for eighteen twenty five eighteenth Street. So it
is tenant occupied twelve hundred dollars a month is the rental.
Speaker 2 (10:23):
Yeah that's good. I'd be a good entry one too
for a first time, or it's been looking and trying
to get into something they didn't have something it wants
to get going, all right.
Speaker 1 (10:29):
Yeah, ninety nine thousand, ninety nine thousand.
Speaker 2 (10:32):
Three percent down, three percent down, John.
Speaker 3 (10:37):
I'm thinking probably eight hundred dollars, which would be really
good if it was a twelve hundred dollars rental. So
I'm saying I'm gonna say eight hundred.
Speaker 1 (10:51):
I'm gonna go with six seventy five.
Speaker 2 (10:54):
The actual payment was six hundred and twenty two dollars.
Gusty gets round two.
Speaker 1 (10:59):
There's some cash flow right there.
Speaker 2 (11:01):
Yes, that's what that's what I was saying. I was like,
that's good stuff, all right.
Speaker 1 (11:06):
And our last new listing of the week is in
the Penson area and the Heather Point neighborhood. Built in
two thousand and three fifty nine seventy seven, Princess Boulevard
is three bedrooms and two and a half baths with
seventeen hundred and twelve square feet. It's got a one
car garage. And we are asking two hundred and fourteen thousand,
two hundred and fourteen thousand dollars to fourteen.
Speaker 2 (11:31):
Let's put five percent down, five percent down, back to Gusty,
see if he can close out the sweep.
Speaker 1 (11:38):
All right, five percent down, all right, I'm gonna go
with thirteen hundred.
Speaker 3 (11:53):
That feels high to me, but I've been wrong the
entire day so I don't know, twelve.
Speaker 2 (11:59):
Hundred thirteen eighteen, Gusty gets the clean sweet.
Speaker 1 (12:07):
Yeah, look at that?
Speaker 2 (12:10):
Would you look at it?
Speaker 1 (12:11):
Just another day? That's right, that's right.
Speaker 2 (12:14):
Hey.
Speaker 1 (12:14):
We've also got one coming soon in the Center Point
area on sixteenth Court Northwest, a three to one and
a half for one hundred and forty five thousand. And
I know we've got properties coming up in Helena and
Alabaster and in the Jefferson County area that is unincorporated
near Hoover. So we've got some more stuff that's gonna
(12:36):
be coming down the market, coming down the pipeline to
the market. We've also got a quick buyer need Graham
on our team is looking for a two bedroom, one
and a half bath condo or town home anywhere from
one hundred and fifty to two hundred and five thousand.
That's gonna be our most immediate need. I do have
people looking in the Edgewood School district. I've got multiple
(12:57):
eight or I've got multiple people looking up to three
hundred and fifty thousand, and I also have somebody looking
in the Hoover area up to four hundred thousand, but
they need one level living so it can be a
garden home. It needs to be anywhere from fifteen hundred
to eighteen hundred square feet and they'd like something that
like a nice lot or you know that she likes
(13:20):
to garden things like that, So that's going to be
some of the things that she's looking for. So yeah,
if you've got any buyer, if you've got any things
that match those criteria, go to Gustygoulisgroup dot com or
you can also call or text two oh five five
four to nineteen ninety six, which is our office number. Hey,
guess what time it is. That's right, it's testmial time.
(13:45):
Oh my gosh, that was loud. I feel like that
we're dragging a little. I don't fuck that. The internet
is okay, I had I had to give a little
extra O well this one and do it again. No, No,
we're goodding, We're goodding, We're good all right?
Speaker 2 (13:56):
Ready for this?
Speaker 1 (13:57):
Five star review is for Tony. Tony is awesome, sold
our home quickly, very pleased and would highly recommend him
if you're looking to sell. Tony is your guy made
me a believer? How about that? Thank you Tony for
being so great and getting it done for us. We
appreciate you so much, so thank you for the opportunity
to sell your property. And congratulations to Tony on another
(14:20):
five star review. And this one is for Graham. Graham
showed us any house we wanted to see and made
our schedules work no matter of the time or day.
He found us exactly what we wanted in the best location.
He also made the entire process so quick and easy.
So congratulations on your new home and Graham, congratulations on
(14:41):
another five star review. And last but not least today,
Oh yeah, the triple threats. Yeah. I highly recommend Kyle
Bedgod to anyone looking for a reliable and trustworthy real
estate agent. Kyle went above and beyond to help me
find my home. His expertise and market expertise and markets
area was instrumental and determining to find a new home
(15:04):
for me and my daughters. I am thankful for the
agent mister Kyle is and his aspects with helping me
in my home buying journey. He was there from beginning
to end, very hands on, involved in all aspects of
the closing. It was times I wanted to give up,
but Kyle didn't give up on men. I love that
his patients. Humble spirit, knowledgeable approach helped me through this process.
(15:28):
Kyle is the top agent that you need. Don't hesitate
my agent as your agent. Man, what a review. Congratulations
on your new home and Kyle, congratulations on another five
star review. How about that?
Speaker 2 (15:41):
The triple threat, the triple threat five star you know
stars that is that's fifteen that's fifteen stars.
Speaker 1 (15:47):
That's fifteen stars. It's not just.
Speaker 3 (15:49):
Three five stars. No, like the half baths. Yeah, no,
it's all stars.
Speaker 2 (15:54):
Baby.
Speaker 1 (15:55):
All right, Well, we're gonna head to break. We're gonna
give you a little bit of what we're seeing in
the markets, within the mortgage world, in the real estate
world right here on Bob barn and Sold. Stay tuned,
all right, welcome back to Bob bart and Sold. Thanks
so much for joining us each and every Sunday. Brad
Smith is hanging out with us in the studio from
(16:17):
Cross Country Mortgage and uh, man, you know, we had
uh we had big news from the Fed. They met
this past week. They did not move the dial. But
so give me, tell me, tell me, but tell me the.
Speaker 2 (16:34):
Butt for the first time in thirty two years. So
I think they meet four times a year. Yeah, some extras.
So the first time in thirty two years that you
had two FED governors Wallern Bowman descent, which means they
went against and voted actually to for the rate cut. Ah,
(16:55):
they knew it wasn't gonna happen, but they did not
go along with the UH with the flow. They want
will be on record that they that they are going
they indeed think we needed to cut rates now and
not wait. There's been plenty signs of the slowdown, and
with ADP actually showed job losses going to thirty three
(17:18):
thousand opposed to gains. The bile E report showed like
three percent growth, which was about what they or I
wanna say, it's like two hundred thousand jobs, which was
about what they expected. Inflation is not going to make
many big moves because the inflation numbers were so low
last year from some of the changes and some of
(17:39):
the rate decreases, so it's actually worked out. But the
numbers are gonna be replacing on these coming things are
already low, so you're not going to see a bunch
of inflation changes as far as what we're going to
react to. But yeah, I think everything shows I mean,
for the first time, like a lower lower income households.
Credit card debt was increased the lease than it has
(18:00):
like ten or fifteen years, which just shows that buying
and spending is slowing. And so I mean, the really
the fear is and then I mean, Pole will even
recognize that the tariffs, the tariffs that they're worried about,
it's only going to be a one time hit to
the numbers. So after that it's just going back to normal.
(18:21):
So like that first hit is a one time hit
that's going to change anything. So like we're all worried
about how this tariff thing is going to work out,
but there's still all this other economy that's going on
around it, and it's showing everything and signs of you
need to cut rates, you need to cut rates. He
even admitted yes day being restrictive Yesterday, Wednesday, Tuesday when
everyone meeting was and and and even went into like
(18:44):
kind of change their verbiage of the last meeting. They
said that they were showing solid growth. We're still showing
solid growth and now it's moderate to slowing growth. So
he's seeing it. He's noticing that we're still going to
be on a wait and see approach, which is is
how things can get bad. And so it looks like
now we won't have another attempt at a rate cut
(19:05):
till September, and which I feel like again, you could
go back to a show about one year ago today
and hear let me say exactly similar to the same
exact thing, and so it's kind of wild thinking back,
Like I remember the meeting and I think I think
the meeting last year was on July thirtieth, and I
think that sticks out in my head, and they didn't
(19:26):
do anything then, and everybody kind of said why not.
And then it was we're gonna have, you know, some
rate cuts at the end of the year, and then
thought we were gonna have more going into this year
than it kind of became. Then we had the election,
President changed, fed's tone changed, they were more dovish. Then
all of a sudden they came out in January more hawkish,
which was not to hold the rates and uh so
(19:48):
we'll see, uh, I mean, we're still I mean, the
markets actually responded pretty well on the bond and treasury
side for US, So I mean, and they they've talked
about are going to stay the same again the same
and get a little better. So I think there was
some a little bit of movement to make for rates
to worsen before the meeting, not really sure where they
were going to go, and then once they saw it, it
(20:09):
was like, Okay, they didn't do rates, but they said
everything else they would normally have said to cut rates,
So we we're gonna have to. So the market reacting
it was good for the bond side and the mortgage
rates to drop. So uh so we're still sitting in
the mid high upper sixes. But and I don't see
a whole lot of stuff that with side something huge
coming out. There's not gonna be a ton that's gonna
(20:30):
make it move. That's kind of my point of going
back into the inflation. Inflation stuff not gonna it's not
gonna change much because of the numbers that were replacing
and are already so low, it's gonna be hard to
show a true decrease until we get back to the
start of twenty twenty six. So there's not a you know,
you've got some core PC numbers that you'll get and
then then then job reports and uh those are pretty
much the main factors that can that can impact it.
(20:51):
So I see it's kind of settling into this probably
you know, for the you know, maybe getting down a
little lower into the maybe hopefully say in the mid
to lower sixes instead of mid higher sixes. I'll be
surprised if we got more than that, you know, over
the next four or five six months, and even maybe
in the next year, just because again I think we're
just all kind of guessing at what some of this
is gonna The long term effects of some of the
(21:12):
stuff's going to be so so a lot of a
lot of word word salid there, but it's it's a
lot of moving parts without a lot of action.
Speaker 1 (21:20):
Well, I think that some of it was even like
the tariffs still impacting that. I think some of the
decision making of the Feds.
Speaker 2 (21:28):
And again, the the the change in the in the
FED funds rate is really looking at like you're projecting
forward and trying to avoid things to happen. And right
now this Fed president appears to we want to see
something happen and then we'll we'll react. Instead of being proactive,
we're being reactive, right, and so that's a very short
(21:50):
sighted look. And again I think we've mentioned here before
this is going to be his last year.
Speaker 1 (21:54):
Well, I mean I watched like some of his statements
and it was just basically like, you know, we'll make
changes when we need to make changes. Yeah, it's very reactionary,
not proaction, you know, proactive.
Speaker 2 (22:06):
Like saying we know some of these numbers are skewed
from back from two years ago. We know some of
the things were kind of interesting last year. So we're
getting some you know, we're getting mixed readings on some stuff.
We know that we're restrict I mean he said that
he knew that they knew they were restrictive. Well, if
you know you're being restrictive, let's go ahead and make
a small adjustment. Nobody asking you to make a fifty
bip decrease or or do something that's really reactive. Go
(22:31):
ahead and do it and then then see where it goes.
And then you don't like doing things September if you
don't want to, So that that waiting to see what
else is going to play out is just you know,
any may end up being right, but it's just short
sighted in my opinion.
Speaker 1 (22:43):
Yeah, yeah, absolutely, And.
Speaker 2 (22:47):
That didn't mean to take up so much time on that,
but it was just very interesting because it was like
if you just read the quotes and just read through
it with no in thing. Okay, they decrease rates in
my opinion, I mean, and then to have two to
have two things governors sent out of it and pull
and actually go against the grain.
Speaker 1 (23:04):
Now when they do that, do they do they talk
about what they would have recommended.
Speaker 2 (23:09):
Twenty feah that they both recommended a quarter percent decrease.
And so when you have something happened for the first
time in thirty two years, again that goes back to
like it's really or we're really in a short window.
And when you start looking at historical stuff, but it's
so my.
Speaker 1 (23:22):
Guesses will probably at this point, if if you've got
some of that, the next one is probably gonna be
a quarter point.
Speaker 2 (23:27):
Yeah, they're saying we're not going along with the with
just falling in lines. Yeah, we're going on record that
we voted for a decrease.
Speaker 1 (23:34):
Well, I think from my standpoint, I think now with
school coming back in the secession this week, we're going
to start getting busier and I'm excited about that.
Speaker 2 (23:42):
Me so too.
Speaker 1 (23:44):
Hey, for any of your real estate needs, go to
Gustygulisgroup dot com or Bradsmith Loans dot com. We'd love
the opportunity to chat with you, work with you, see
if we'd be a good fit together. And thanks so
much for listening. We'll catch you next time. Bye bye,
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