Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Welcome to ball Bart and Soul. Thank you so much
for joining us. As always, we've got Brad Smith from
Cross Country Mortgage hanging out with us in the studio. Brad,
good day, How are you great? How about you doing good? Man?
Doing good? Been busy this week?
Speaker 2 (00:15):
Yeah, it's been. It's been a good busy week. I
think everybody's knocking off the holiday rust and getting after it.
Speaker 1 (00:21):
Man, dude, I am telling you, like, my phone's been ringing.
Ye people are you know we're getting things going for
getting listings on the market. Over the next few months.
We were seeing some excitement. It's been good.
Speaker 2 (00:36):
Yeah, I mean I've been good. I had one this
past week where it's like, hey, we found a house
we love. We want to try to get in by
the end of January. Okay, well, if I can run
as fast as you can run, let's go. So you know,
it's out of the blue, and so's it's it's it's going.
Speaker 1 (00:48):
It's good. We just got back from New York. Oh yeah,
how was that? You know, it was awesome. We had
a great time. We took the kids. It was the
first time we brought our youngest over to New York
and you know, I tell you, we became subway pros.
My wife Katie, she I'm telling you like, she had
a jam pack schedule. It was NonStop. We had some
(01:11):
amazing dinners. We had some like we had. There was
a brunch place that we had went to that was amazing.
We went Nets. I saw I saw some of those
updates that looked cool. So my whole the the whole
thing I had to do is I had to book
the airplane tickets and I had to book NETS tickets. Okay,
how did tickets go? Great? Perfect? We got there and
(01:37):
you know, the we only had one one issue with
the airplane tickets as we were flying out of Atlanta
instead of Birmingham. And we had kind of had this
plan when we booked these appointments that we were going
to stay like with a friend in Atlanta, but we
forgot about it. So so I was I was checking
(01:57):
in and it said we're leaving out of Atlanta and
we had literally no plans. So and we had to
board at five point fifteen am right our time. Excuse me,
we were leaving at five fifteen am hour time, so
we had to board at like, you know, four forty
five and uh so, yeah, I had to leave. We
(02:17):
left Birmingham at twelve thirty. I was gonna ask you
to y'all end up leaving like in the middle of night. Yeah.
I took like an hour and a half two hour
cat nap. Yeah, And then we had everything pretty much
ready to go, and I packed the car and we
ran to Atlanta. It really wasn't a bad drive. I mean,
it's probably the best time to get through there. Yeah.
I mean, like I'm going to make that drive a
lot at all different times, and that that's not bad.
(02:39):
It was. It was pretty cool. And then we got
up there early, so we you know, had a whole day.
I had a lot of coffee and and you know,
I slept really good that that night. I slept really good.
But we took the kids ice skating. We took we
went to the Nets game and and we got we
got to sit in a suite at the Nets game.
Like I was, I was searching for like the best deal, unbelievable,
(03:02):
and and Katie was like, no, you better not, just
like wait until like we're walking into the stadium to
get a ticket, you know how this you know, I
was like, just be patient, and I finally found one
that was in a suite and I got a great
deal on it, So I was pretty pumped about that.
It was awesome. It was a good trip. Glad to
be back. Yeah. Yeah, Hey, in our next segment, we're
(03:22):
gonna we're gonna give market updates. Yep, but we're gonna
go to go ahead and talk about our new listings
and open houses and and yeah. Game, yeah, do the
mortgage game. So Brad with Bradsmithlans dot com Cross Country Mortgage,
will you tell us the rules of the mortgage game.
Speaker 2 (03:41):
The rules of the mortgage game aren't Gussy's gonna go
through coming soons or listings they already have going through
to give you the purchase price for those properties of
things they've got coming or have listed. I will give
a potential down payment that a customer may make on
that property, and then Gusty and John Mounts will get
the thirty year fixed mortgage payment principal and interest only
(04:04):
to the wind closest to the number wins. Gusty, it
is time for some listings.
Speaker 1 (04:10):
All right, Hey, can I add one please? Yeah? All right,
So we've got a home that's opened this Sunday, uh
two to four this afternoon one twenty first Street South,
that is in the Vineland Park neighborhood. Built in nineteen
sixty two bedrooms, two baths, renovated, a little over a
(04:33):
thousand square feet, priced at one hundred and seventy thousand dollars,
and it's going to be open this afternoon from two
to four with Alita Piedro So one seventy Brad Smith,
I know I caught you off guard with this.
Speaker 2 (04:46):
One, one seventy. Since you caught me off guard, one
seventy putting forty percent down, forty percent down, forty percent down,
putting a big chunk down, forty percent down. What is
the monthly payment? Goddess, gust you get to go first?
Speaker 1 (05:04):
Oh man, man, this is holy cow. Just throw it.
He completely throwing me off. And that's okay, that is
totally fine. Brad Smith, loans dot Com. Let's go with
(05:26):
the man, uh god.
Speaker 2 (05:33):
Six twenty five, six twenty five from Gusty John, you
are gonna be actually guessing the payment.
Speaker 1 (05:39):
Again, Okay.
Speaker 3 (05:41):
So I'm not not hire a lover.
Speaker 1 (05:42):
Not hire lower six five. He probably does want to
be hire lower with this one.
Speaker 3 (05:47):
Yeah, probably.
Speaker 4 (05:48):
I feel like I feel like it should be a
little higher than that, but not by much. Gonna say
six sixty six sixty actual payment was six hundred and
ninety six dollars.
Speaker 1 (06:02):
Mister, all over it today, six ninety.
Speaker 3 (06:07):
I like that forty that really three.
Speaker 2 (06:09):
It threw me off well, ended up being likeding like
one hundred and two thousand.
Speaker 3 (06:13):
That's how it was calculating.
Speaker 1 (06:15):
Yeah, we've got We didn't we didn't have any listings
to go live this this week, but we've got three
coming soons for next week that I want to chat about. Uh.
The first, this one is fifty two eighty nine willow
Ridge Lane. This is in Penson. It's three bedrooms, two bass,
twelve hundred and sixty four square feet, built in nineteen
seventy eight, and we're asking one hundred and sixty five thousand.
(06:38):
This listing is courtesy of Riley Woods. Riley, congratulations all
your new listing. And you know it's funny like we've
even we've already even got we've got a sight unseen
offer on this house already. You know that's always a
good sign. Here comes the market. Yep.
Speaker 2 (06:56):
Here, here's what twenty twenty five is going to look like.
One six, one sixty five putting seventy three percent down.
Speaker 1 (07:02):
I'm just kidding.
Speaker 2 (07:03):
Nine good Okay, five percent down, Okay, one hundred and
sixty five thousand dollars purchase price, putting five percent down,
five percent down, John, you get to go first as time.
Speaker 4 (07:14):
So the trick on this is it's actually pretty close
to the other asking price, but completely different down payments.
Speaker 1 (07:20):
So that's why I kind of had to throw that
other one in there.
Speaker 3 (07:23):
Different.
Speaker 4 (07:24):
Yeah, I get right, I get you. So it's got
to be more than the previous one. So I'm gonna
go with nine hundred and sixty dollars, nine hundred and
sixty dollars, locking it on sixty.
Speaker 1 (07:35):
Nine sixty dollars. Yeah, I'm gonna cool with one thousand
and eleven dollars on.
Speaker 2 (07:40):
Thousand and eleven. The actual payment was one thousand and
sixty nine dollars. Got to get a round two. We
are tied one to one going into round three. Yeah,
all right, this one's tension. I'm really excited about this one.
This isn't trustful. Seventy one thirty Honor Keith Road. This
(08:02):
home was built in nineteen sixty eight.
Speaker 1 (08:05):
Sits on six point seven acres six point seven acres
three bedrooms, two baths, nineteen hundred and eighty square feet,
brick rancher. It's got a two car garage. We are
asking two hundred and ninety five thousand for this, and
we've already got a sign unseen offer on this one too.
Yeah on the brancher, Yeah, the brick branch or the branch,
(08:27):
I mean two ninety five with a two thousand square
foot house on six point seven acres. I mean like, yeah,
that's a side unseen offer. You know that. I feel
like they were gonna have a bitting war on this one. Yeah.
Speaker 2 (08:39):
I bet that's why you got you had a Yeah,
I want it. Well, let's see how whatever I.
Speaker 1 (08:44):
Mean this is, I mean, like, okay, cool, yeah, oh,
this listening is also courtesy Riley would dude, like Riley,
what's up? Man? I like it? Finding the sweet one?
All right? Dog?
Speaker 2 (08:55):
Two ninety five twenty percent down, twenty percent down on
two ninety five, Gusty is back to you said twenty
percent down.
Speaker 1 (09:06):
Yeah, I'm gonna go with.
Speaker 2 (09:11):
MMMM sixteen thirty one, sixteen thirty one to you, John, Okay.
Speaker 4 (09:26):
I'm going to my sticking with my guessing radio station frequencies.
My last one was nine to sixty for WRC. This
one I'm going to go with fifteen ten WLAC in Nashville, Tennessee.
Also a great iHeart station, ten Killharts fifteen ten, great
radio station.
Speaker 2 (09:39):
It's a great guest. The actual payment was sixteen nine.
Gusty gets round three?
Speaker 3 (09:46):
Does that make him the winner? We got any more?
Speaker 2 (09:48):
We got one more, We got one more for Gusty.
Gusty's up two to one going into round four. The
best I can hope to do is tie it, and
I hope you do because I love coming up with
tide brighters.
Speaker 1 (09:56):
Now lord, hey, we've got a We've got a home
that's coming soon. Uh six nine seven seven Southern Trace Loop.
This is in Leeds. This is in the Southern Trace neighborhood.
This house is literally less than a year old, four bedrooms,
two baths, seventeen hundred and seventy four square feet. We
are asking three nineteen nine. These folks have put in
(10:20):
a fenced yard. They have done different updates on the
interior of their home. It is a smart house, so
you got the you know, the alarm and all the
Wi Fi and all that kind of fun stuff. Three
nineteen nine in the neighborhood's got a community pool, it's
got a playground, it's got sidewalks. So I mean, like
(10:44):
when you when you think about what you're getting, what
you get for the money, a four bedroom, this is
a good one. These folks are getting transferred. So their
loss is your game. Your gain.
Speaker 2 (10:58):
Scoop it upteen nine. Yeah, and if you put ten
percent down, your monthly payment would be john uh percent
down three nineteen nine.
Speaker 4 (11:09):
So therefore what you're putting down is uh thirty one
nine or so we'll call it thirty two. We'll call
it thirty two. Uh So, gonna be probably. I have
no idea. Twenty two thousand, two hundred and twenty two
dollars two two two two.
Speaker 1 (11:30):
Twenty two hundred.
Speaker 3 (11:31):
I'm sorry, yeah, twenty two.
Speaker 1 (11:32):
You say twenty two thousand had too many places. I
thought he was.
Speaker 2 (11:35):
I thought he was still working out the down payment.
Read that's why I don't know what I'm doing.
Speaker 4 (11:39):
Yeah, twenty twenty two two two two two and twenty
two cents.
Speaker 1 (11:45):
There you go, all right, Gusty, I'm gonna say twenty
one oh seven.
Speaker 2 (11:52):
Twenty one oh seven. The actual payment was nineteen hundred
and sixty four dollars.
Speaker 3 (11:57):
I feel like Gusty was doing the whole higher low
thig there.
Speaker 2 (12:02):
I knew he didn't get that one much effort because
he just knew you were high. I feel like he
just kind of went safely.
Speaker 3 (12:06):
Low, just a little lower than.
Speaker 2 (12:10):
If he just said twenty one thousand. I really thought
he was just trying to go under your own prices
right right.
Speaker 1 (12:17):
Now? What's crazy? When I was in New York, I
was looking at like the cost of you know, uh,
condos and things up there. I did see some like
ten million dollar, uh ten million dollar properties, and I
saw there was like a fifteen million, and I was like,
a ten million dollar property is literally it's probably seventy
thousand dollars a month. And that's if you've probably put
(12:41):
down a good twenty percent. You're putting abound a chunk.
Speaker 2 (12:44):
I mean, there's not a lot of not a lot
of one hundred percent financing on a ten million dollars.
Speaker 3 (12:47):
What does ten million dollars get you in New York proper?
Speaker 1 (12:50):
About three thousand square feet? You know, it's pretty good. Yeah, yeah, Uh,
what I was seeing was about two thousand dollars a
square foot up there.
Speaker 3 (13:00):
But what would ten million dollars get you in Birmingham, Alabama.
Speaker 1 (13:05):
I mean quite frankly, it could potentially get you a city,
not even any market comps for that, right. No, there
there's I mean there's I think one house that's currently
on the market for like six million. That's in Mountain Brook.
So I mean there there's you know, hey, look, if
if you will to spend ten million dollars in Birmingham,
I'm sure I can find you the house, your guy. Yeah,
(13:27):
there's definitely ten million dollar houses. Yeah, I mean you've
got the the Shoal Creek Mansion, the house, the you
know the house house. You know, that's that's probably a
I think it was. I think it costs like twelve
million a bill actually, but they sold out an auction
for like four million, you know, some years you know, uh,
some years ago. But I mean that that probably you
(13:49):
could probably buy that today for eight million.
Speaker 2 (13:51):
I remember telling seven or eight I did a I
did a loan on a condo in New York. It
was seven hundred and eighty square feet. It was a
short sell to attorney's two bedroom, one bath and updates.
I mean like it almost it was a glorified prison
cell and it was like they got it for eight
point fifty to praise for like one point one million
on the on the south south side of the island.
(14:11):
So I mean it was still but it I mean
even then, I was like that was again during the market,
stuff kind of going down. But anyways, here you go.
Speaker 1 (14:18):
I've got I'm just gonna touch on this real quick.
We've got a bunch of VP buyers, but I just
wanted to reach out. We're buying houses. So if you
have like inherited a house, or you've got a rental
that is, you've got a tenant in there, didn't want
to deal with it anymore, you've got a bad tenant
and don't want to deal with it anymore. Or if
(14:38):
you have a house that just needs is in a
good bit of disrepair, you know, let me know. You know,
we'll bring you a fair offer on the property and
go from there. So I just want to touch base
on that. Guess what time it is. It's testimonial time.
I called. I called John off guard.
Speaker 3 (15:00):
I'm not used. I don't even know where Testimoniya time
goes at this point.
Speaker 1 (15:05):
This is this is from Jay. He says Chance has
been so kind and so patient with us as we
have tried to navigate our first home purchase in a
strange market. He is always responsive, supportive, and willing to
help in any way. We've been extremely pleased with him
and have been so lucky he has been representing us
(15:25):
so well. So Jay, thank you so much for the
opportunity and chance. Congratulations on another five star review. That's
how we do it, John, We are back. Now what
we're doing all right, Well, we're gonna go to break,
We're gonna come back. We're gonna give you a little
(15:46):
bit of what's going on in the market from a
real estate perspective and a mortgage perspective right here on
Bart and Soul. Welcome back to the show. Thank you
again for joining us, by the way, each and every Sunday,
eight am, New Time, thirty minute show, thirty minute show.
We've got four four years. This is gonna be our
(16:10):
fifth year in May. Oh wow, we've got four and
a half years of shows on the iHeartRadio app, Bart
and Sold. All you have to do is like literally
google it and man, it's been crazy. I can't believe that.
I mean, that's like, that's like two hundred and fifty shows. Huh,
it's a lot. That's a lot. That's a lot. Hey, market,
(16:31):
give us an update. What's going on in the mortgage world.
Do we have any kind of good news? Can you
share with us?
Speaker 2 (16:39):
I have no good news. I don't necessarily have bad news,
but no good news probably is more bad news. So yeah,
I don't have a clue. Uh, speaking of where everybody's
kind of guessing. You know, we've we're we've got jobs.
Reports that are going to be jobs are the main
indicator right now how we get rates to move. I
(17:01):
don't think that's going to be a huge moving target
right now, even before they do, because they're not. We're
not gonna getting seasonal adjustments just yet. So I think
the unemployment's gonna stay pretty pretty steady at around four
point two. And so you know, if we unless we
get to four point four and the unemployment, we're probably
not going to see a huge huge shift. There was
a rollover of some FED the voting FED members, so
(17:24):
four fell off. Four come up one one of those.
One of those, I think it's Roger gools will be
he is the most dovish, which would be the one
to help make more FED cut rates more rate cuts,
where the other ones are more hawks that fell All
four were kind of considered hawks that fell off, which
(17:45):
wanted to keep it up, So the other three that
came on are still kind of hawks. But at least
we've got one what they call dove on there, so
maybe we can get the fund fed funds to keep
coming down some. But really it's all going to be
inflation kind of what we'd start determining what Trump's policies
are going to, because I think that's still part of
the unknown sure of really what's coming from that, And
(18:07):
so we're just kind of all in a holding pattern
in around that's still in that seven percent range on
the thirty year fixed, and I mean, honestly some of
the numbers support that should be going down. We need
the ten year to get back below for fifty would
be ideal start going down from there, But I don't
know what in the news cycle is going to make
any kind of big moves to help us get down
(18:29):
there without some kind of policy update as far as
it's going to be something that would help drive the
mortgage rates down to make an influence, and or some
kind of wonky unemployment numbers. But again I think that's
gonna trail for another thirty or forty five days before
we get true on employment numbers that could impact and
help rates. So you know, I'm my attitude on it's
(18:51):
changed a little bit. But I also think that that's
supportive that we're doing okay as far as in everything else,
So very good.
Speaker 1 (19:00):
That's what I got. Sorry that wasn't great news or anything,
but it's kind of where we are. I mean, I think,
I mean, what we want to do as part of
the show is to bring what is going on literally
on a weekly basis. Yeah, And I mean there's people
that that this is all they do all day and
I listened to them project and then they're wrong, and
so it is. It's kind of the thing kind of
(19:21):
like weathermen. Yeah.
Speaker 2 (19:24):
Yeah, a lot of sledging going on, allegedly allegedly supposedly
but but no, So I mean, but again, I think
part of it is we've talked about this multiple tons
of times on this show. It takes some bad things
to get the rates to go down, and so it's
a lot of the economy is maybe a little stronger
(19:45):
and old fires.
Speaker 1 (19:46):
Would that do it? Well? It'll make insurance.
Speaker 2 (19:49):
Well it would, Yeah, make insurance go up. We already
has seen some of them is crazy. I mean literally
like subdivisions gone. Yeah, like houses, our ashes just just
done devastated. But so yeah, that those you know, but
we've already been taking so many hits on insurance. I mean,
(20:11):
I don't know where else it can go. I mean,
I mean, what what do you do?
Speaker 1 (20:14):
Hopefully they're making good investments so they can try to
keep our rates staying and.
Speaker 2 (20:18):
Some premiums down. But yeah, so that's been the only thing,
you know, they had. We had President President Carter's funerals.
So the market was closed on Thursday, which you know,
kind of made where some maybe some news things were
coming out, but we didn't really see what the market
really was going to do in full fledged and not. Yeah,
but so there's been a little bit of things that
were kind of getting some reports, but kind of seeing
how the market reacts. We'll find out more on Monday,
(20:40):
and kind of figuring out kind of where we're going.
Speaker 1 (20:42):
But well, what do you what do you? What do
you got?
Speaker 3 (20:44):
Do you like?
Speaker 1 (20:45):
My phone's been blowing up? Yep, I love it. You
can call it at two of five five four two,
nineteen ninety six, you can text that number two. People
are like I've had people out of the woodwork, like
I hadn't shown them in six months. Had multiple people
last weekend. We're like, hey, ready to get back going,
want to take a look at these properties? I said, sorry,
(21:06):
they're both under contract, both under contract. We had multiple
I was talking to multiple hour of our agents this
week and we had TJ wont a multiple offer deal.
Was really excited about it. Kyle is actually working a
deal with TJ. So I love seeing I love seeing
(21:28):
our agents work together deals. That's that's always fun to see.
Had multiple agents, you know, saying hey, can you help me,
and you know, prepping this offer, Like what are your thoughts?
So you know, I mean it's like we've got you know,
we talked about three coming soons, you know a little
bit earlier. I mean, we've got we've got stuff coming
(21:49):
down the pipeline and then the the following weeks. And
I can just tell that the sentiment is just way
more positive this this moment than at any time last year.
Oh for sure, literally at anytime last year. The sentiment
is better right now. So I'm pretty pomped about it.
(22:13):
You know, November and December, I was kind of getting
a little depressed. I wasn't like as super jazzed and excited,
even though I have to kind of portray it that way.
But man, I just feel like we've we've finally got
past the election. We finally got past twenty twenty four,
and people are like, let's go, let's go.
Speaker 2 (22:34):
Let's one I think I've been. I mean, yeah, I bet,
I bet. In the ten eleven days we've been in January,
I've had more prequel calls than I did in November
and December combined, a few a day, I mean on average.
So I mean it's it's I feel so much better now.
Speaker 3 (22:51):
Hey.
Speaker 1 (22:51):
We had one of our listeners call in and they
wanted to reach out and and say, hey, their house
is listed with another brokerage. But I wanted to at
least kind of give a shout out that there is
a house in Liberty Park. It's listed by another company
called ARC Realty, and it is currently for sale. Let
(23:14):
me find that text met here we go, forty seven
four Jackson Loop in Vestavia. Uh, they would love, they'd
love for you to come and take a look at it.
It is for seal and it's in I love Liberty Park.
It's one of my favorite neighborhoods price at seven fifty
four to nine, so I wanted to give that shout outs.
(23:37):
Thanks for joining us, We'll see you next week's week
Welcome to ball Bart and Soul. Thank you so much
for joining us. As always, we've got Brad Smith from
Cross Country Mortgage hanging out with us in the studio. Brad,
good day, How are you great? How about you doing good? Man?
Doing good? Been busy this week?
Speaker 2 (00:15):
Yeah, it's been. It's been a good busy week. I
think everybody's knocking off the holiday rust and getting after it.
Speaker 1 (00:21):
Man, dude, I am telling you, like, my phone's been ringing.
Ye people are you know we're getting things going for
getting listings on the market. Over the next few months.
We were seeing some excitement. It's been good.
Speaker 2 (00:36):
Yeah, I mean I've been good. I had one this
past week where it's like, hey, we found a house
we love. We want to try to get in by
the end of January. Okay, well, if I can run
as fast as you can run, let's go. So you know,
it's out of the blue, and so's it's it's it's going.
Speaker 1 (00:48):
It's good. We just got back from New York. Oh yeah,
how was that? You know, it was awesome. We had
a great time. We took the kids. It was the
first time we brought our youngest over to New York
and you know, I tell you, we became subway pros.
My wife Katie, she I'm telling you like, she had
a jam pack schedule. It was NonStop. We had some
(01:11):
amazing dinners. We had some like we had. There was
a brunch place that we had went to that was amazing.
We went Nets. I saw I saw some of those
updates that looked cool. So my whole the the whole
thing I had to do is I had to book
the airplane tickets and I had to book NETS tickets. Okay,
how did tickets go? Great? Perfect? We got there and
(01:37):
you know, the we only had one one issue with
the airplane tickets as we were flying out of Atlanta
instead of Birmingham. And we had kind of had this
plan when we booked these appointments that we were going
to stay like with a friend in Atlanta, but we
forgot about it. So so I was I was checking
(01:57):
in and it said we're leaving out of Atlanta and
we had literally no plans. So and we had to
board at five point fifteen am right our time. Excuse me,
we were leaving at five fifteen am hour time, so
we had to board at like, you know, four forty
five and uh so, yeah, I had to leave. We
(02:17):
left Birmingham at twelve thirty. I was gonna ask you
to y'all end up leaving like in the middle of night. Yeah.
I took like an hour and a half two hour
cat nap. Yeah, And then we had everything pretty much
ready to go, and I packed the car and we
ran to Atlanta. It really wasn't a bad drive. I mean,
it's probably the best time to get through there. Yeah.
I mean, like I'm going to make that drive a
lot at all different times, and that that's not bad.
(02:39):
It was. It was pretty cool. And then we got
up there early, so we you know, had a whole day.
I had a lot of coffee and and you know,
I slept really good that that night. I slept really good.
But we took the kids ice skating. We took we
went to the Nets game and and we got we
got to sit in a suite at the Nets game.
Like I was, I was searching for like the best deal, unbelievable,
(03:02):
and and Katie was like, no, you better not, just
like wait until like we're walking into the stadium to
get a ticket, you know how this you know, I
was like, just be patient, and I finally found one
that was in a suite and I got a great
deal on it, So I was pretty pumped about that.
It was awesome. It was a good trip. Glad to
be back. Yeah. Yeah, Hey, in our next segment, we're
(03:22):
gonna we're gonna give market updates. Yep, but we're gonna
go to go ahead and talk about our new listings
and open houses and and yeah. Game, yeah, do the
mortgage game. So Brad with Bradsmithlans dot com Cross Country Mortgage,
will you tell us the rules of the mortgage game.
Speaker 2 (03:41):
The rules of the mortgage game aren't Gussy's gonna go
through coming soons or listings they already have going through
to give you the purchase price for those properties of
things they've got coming or have listed. I will give
a potential down payment that a customer may make on
that property, and then Gusty and John Mounts will get
the thirty year fixed mortgage payment principal and interest only
(04:04):
to the wind closest to the number wins. Gusty, it
is time for some listings.
Speaker 1 (04:10):
All right, Hey, can I add one please? Yeah? All right,
So we've got a home that's opened this Sunday, uh
two to four this afternoon one twenty first Street South,
that is in the Vineland Park neighborhood. Built in nineteen
sixty two bedrooms, two baths, renovated, a little over a
(04:33):
thousand square feet, priced at one hundred and seventy thousand dollars,
and it's going to be open this afternoon from two
to four with Alita Piedro So one seventy Brad Smith,
I know I caught you off guard with this.
Speaker 2 (04:46):
One, one seventy. Since you caught me off guard, one
seventy putting forty percent down, forty percent down, forty percent down,
putting a big chunk down, forty percent down. What is
the monthly payment? Goddess, gust you get to go first?
Speaker 1 (05:04):
Oh man, man, this is holy cow. Just throw it.
He completely throwing me off. And that's okay, that is
totally fine. Brad Smith, loans dot Com. Let's go with
(05:26):
the man, uh god.
Speaker 2 (05:33):
Six twenty five, six twenty five from Gusty John, you
are gonna be actually guessing the payment.
Speaker 1 (05:39):
Again, Okay.
Speaker 3 (05:41):
So I'm not not hire a lover.
Speaker 1 (05:42):
Not hire lower six five. He probably does want to
be hire lower with this one.
Speaker 3 (05:47):
Yeah, probably.
Speaker 4 (05:48):
I feel like I feel like it should be a
little higher than that, but not by much. Gonna say
six sixty six sixty actual payment was six hundred and
ninety six dollars.
Speaker 1 (06:02):
Mister, all over it today, six ninety.
Speaker 3 (06:07):
I like that forty that really three.
Speaker 2 (06:09):
It threw me off well, ended up being likeding like
one hundred and two thousand.
Speaker 3 (06:13):
That's how it was calculating.
Speaker 1 (06:15):
Yeah, we've got We didn't we didn't have any listings
to go live this this week, but we've got three
coming soons for next week that I want to chat about. Uh.
The first, this one is fifty two eighty nine willow
Ridge Lane. This is in Penson. It's three bedrooms, two bass,
twelve hundred and sixty four square feet, built in nineteen
seventy eight, and we're asking one hundred and sixty five thousand.
(06:38):
This listing is courtesy of Riley Woods. Riley, congratulations all
your new listing. And you know it's funny like we've
even we've already even got we've got a sight unseen
offer on this house already. You know that's always a
good sign. Here comes the market. Yep.
Speaker 2 (06:56):
Here, here's what twenty twenty five is going to look like.
One six, one sixty five putting seventy three percent down.
Speaker 1 (07:02):
I'm just kidding.
Speaker 2 (07:03):
Nine good Okay, five percent down, Okay, one hundred and
sixty five thousand dollars purchase price, putting five percent down,
five percent down, John, you get to go first as time.
Speaker 4 (07:14):
So the trick on this is it's actually pretty close
to the other asking price, but completely different down payments.
Speaker 1 (07:20):
So that's why I kind of had to throw that
other one in there.
Speaker 3 (07:23):
Different.
Speaker 4 (07:24):
Yeah, I get right, I get you. So it's got
to be more than the previous one. So I'm gonna
go with nine hundred and sixty dollars, nine hundred and
sixty dollars, locking it on sixty.
Speaker 1 (07:35):
Nine sixty dollars. Yeah, I'm gonna cool with one thousand
and eleven dollars on.
Speaker 2 (07:40):
Thousand and eleven. The actual payment was one thousand and
sixty nine dollars. Got to get a round two. We
are tied one to one going into round three. Yeah,
all right, this one's tension. I'm really excited about this one.
This isn't trustful. Seventy one thirty Honor Keith Road. This
(08:02):
home was built in nineteen sixty eight.
Speaker 1 (08:05):
Sits on six point seven acres six point seven acres
three bedrooms, two baths, nineteen hundred and eighty square feet,
brick rancher. It's got a two car garage. We are
asking two hundred and ninety five thousand for this, and
we've already got a sign unseen offer on this one too.
Yeah on the brancher, Yeah, the brick branch or the branch,
(08:27):
I mean two ninety five with a two thousand square
foot house on six point seven acres. I mean like, yeah,
that's a side unseen offer. You know that. I feel
like they were gonna have a bitting war on this one. Yeah.
Speaker 2 (08:39):
I bet that's why you got you had a Yeah,
I want it. Well, let's see how whatever I.
Speaker 1 (08:44):
Mean this is, I mean, like, okay, cool, yeah, oh,
this listening is also courtesy Riley would dude, like Riley,
what's up? Man? I like it? Finding the sweet one?
All right? Dog?
Speaker 2 (08:55):
Two ninety five twenty percent down, twenty percent down on
two ninety five, Gusty is back to you said twenty
percent down.
Speaker 1 (09:06):
Yeah, I'm gonna go with.
Speaker 2 (09:11):
MMMM sixteen thirty one, sixteen thirty one to you, John, Okay.
Speaker 4 (09:26):
I'm going to my sticking with my guessing radio station frequencies.
My last one was nine to sixty for WRC. This
one I'm going to go with fifteen ten WLAC in Nashville, Tennessee.
Also a great iHeart station, ten Killharts fifteen ten, great
radio station.
Speaker 2 (09:39):
It's a great guest. The actual payment was sixteen nine.
Gusty gets round three?
Speaker 3 (09:46):
Does that make him the winner? We got any more?
Speaker 2 (09:48):
We got one more, We got one more for Gusty.
Gusty's up two to one going into round four. The
best I can hope to do is tie it, and
I hope you do because I love coming up with
tide brighters.
Speaker 1 (09:56):
Now lord, hey, we've got a We've got a home
that's coming soon. Uh six nine seven seven Southern Trace Loop.
This is in Leeds. This is in the Southern Trace neighborhood.
This house is literally less than a year old, four bedrooms,
two baths, seventeen hundred and seventy four square feet. We
are asking three nineteen nine. These folks have put in
(10:20):
a fenced yard. They have done different updates on the
interior of their home. It is a smart house, so
you got the you know, the alarm and all the
Wi Fi and all that kind of fun stuff. Three
nineteen nine in the neighborhood's got a community pool, it's
got a playground, it's got sidewalks. So I mean, like
(10:44):
when you when you think about what you're getting, what
you get for the money, a four bedroom, this is
a good one. These folks are getting transferred. So their
loss is your game. Your gain.
Speaker 2 (10:58):
Scoop it upteen nine. Yeah, and if you put ten
percent down, your monthly payment would be john uh percent
down three nineteen nine.
Speaker 4 (11:09):
So therefore what you're putting down is uh thirty one
nine or so we'll call it thirty two. We'll call
it thirty two. Uh So, gonna be probably. I have
no idea. Twenty two thousand, two hundred and twenty two
dollars two two two two.
Speaker 1 (11:30):
Twenty two hundred.
Speaker 3 (11:31):
I'm sorry, yeah, twenty two.
Speaker 1 (11:32):
You say twenty two thousand had too many places. I
thought he was.
Speaker 2 (11:35):
I thought he was still working out the down payment.
Read that's why I don't know what I'm doing.
Speaker 4 (11:39):
Yeah, twenty twenty two two two two two and twenty
two cents.
Speaker 1 (11:45):
There you go, all right, Gusty, I'm gonna say twenty
one oh seven.
Speaker 2 (11:52):
Twenty one oh seven. The actual payment was nineteen hundred
and sixty four dollars.
Speaker 3 (11:57):
I feel like Gusty was doing the whole higher low
thig there.
Speaker 2 (12:02):
I knew he didn't get that one much effort because
he just knew you were high. I feel like he
just kind of went safely.
Speaker 3 (12:06):
Low, just a little lower than.
Speaker 2 (12:10):
If he just said twenty one thousand. I really thought
he was just trying to go under your own prices
right right.
Speaker 1 (12:17):
Now? What's crazy? When I was in New York, I
was looking at like the cost of you know, uh,
condos and things up there. I did see some like
ten million dollar, uh ten million dollar properties, and I
saw there was like a fifteen million, and I was like,
a ten million dollar property is literally it's probably seventy
thousand dollars a month. And that's if you've probably put
(12:41):
down a good twenty percent. You're putting abound a chunk.
Speaker 2 (12:44):
I mean, there's not a lot of not a lot
of one hundred percent financing on a ten million dollars.
Speaker 3 (12:47):
What does ten million dollars get you in New York proper?
Speaker 1 (12:50):
About three thousand square feet? You know, it's pretty good. Yeah, yeah, Uh,
what I was seeing was about two thousand dollars a
square foot up there.
Speaker 3 (13:00):
But what would ten million dollars get you in Birmingham, Alabama.
Speaker 1 (13:05):
I mean quite frankly, it could potentially get you a city,
not even any market comps for that, right. No, there
there's I mean there's I think one house that's currently
on the market for like six million. That's in Mountain Brook.
So I mean there there's you know, hey, look, if
if you will to spend ten million dollars in Birmingham,
I'm sure I can find you the house, your guy. Yeah,
(13:27):
there's definitely ten million dollar houses. Yeah, I mean you've
got the the Shoal Creek Mansion, the house, the you
know the house house. You know, that's that's probably a
I think it was. I think it costs like twelve
million a bill actually, but they sold out an auction
for like four million, you know, some years you know, uh,
some years ago. But I mean that that probably you
(13:49):
could probably buy that today for eight million.
Speaker 2 (13:51):
I remember telling seven or eight I did a I
did a loan on a condo in New York. It
was seven hundred and eighty square feet. It was a
short sell to attorney's two bedroom, one bath and updates.
I mean like it almost it was a glorified prison
cell and it was like they got it for eight
point fifty to praise for like one point one million
on the on the south south side of the island.
(14:11):
So I mean it was still but it I mean
even then, I was like that was again during the market,
stuff kind of going down. But anyways, here you go.
Speaker 1 (14:18):
I've got I'm just gonna touch on this real quick.
We've got a bunch of VP buyers, but I just
wanted to reach out. We're buying houses. So if you
have like inherited a house, or you've got a rental
that is, you've got a tenant in there, didn't want
to deal with it anymore, you've got a bad tenant
and don't want to deal with it anymore. Or if
(14:38):
you have a house that just needs is in a
good bit of disrepair, you know, let me know. You know,
we'll bring you a fair offer on the property and
go from there. So I just want to touch base
on that. Guess what time it is. It's testimonial time.
I called. I called John off guard.
Speaker 3 (15:00):
I'm not used. I don't even know where Testimoniya time
goes at this point.
Speaker 1 (15:05):
This is this is from Jay. He says Chance has
been so kind and so patient with us as we
have tried to navigate our first home purchase in a
strange market. He is always responsive, supportive, and willing to
help in any way. We've been extremely pleased with him
and have been so lucky he has been representing us
(15:25):
so well. So Jay, thank you so much for the
opportunity and chance. Congratulations on another five star review. That's
how we do it, John, We are back. Now what
we're doing all right, Well, we're gonna go to break,
We're gonna come back. We're gonna give you a little
(15:46):
bit of what's going on in the market from a
real estate perspective and a mortgage perspective right here on
Bart and Soul. Welcome back to the show. Thank you
again for joining us, by the way, each and every Sunday,
eight am, New Time, thirty minute show, thirty minute show.
We've got four four years. This is gonna be our
(16:10):
fifth year in May. Oh wow, we've got four and
a half years of shows on the iHeartRadio app, Bart
and Sold. All you have to do is like literally
google it and man, it's been crazy. I can't believe that.
I mean, that's like, that's like two hundred and fifty shows. Huh,
it's a lot. That's a lot. That's a lot. Hey, market,
(16:31):
give us an update. What's going on in the mortgage world.
Do we have any kind of good news? Can you
share with us?
Speaker 2 (16:39):
I have no good news. I don't necessarily have bad news,
but no good news probably is more bad news. So yeah,
I don't have a clue. Uh, speaking of where everybody's
kind of guessing. You know, we've we're we've got jobs.
Reports that are going to be jobs are the main
indicator right now how we get rates to move. I
(17:01):
don't think that's going to be a huge moving target
right now, even before they do, because they're not. We're
not gonna getting seasonal adjustments just yet. So I think
the unemployment's gonna stay pretty pretty steady at around four
point two. And so you know, if we unless we
get to four point four and the unemployment, we're probably
not going to see a huge huge shift. There was
a rollover of some FED the voting FED members, so
(17:24):
four fell off. Four come up one one of those.
One of those, I think it's Roger gools will be
he is the most dovish, which would be the one
to help make more FED cut rates more rate cuts,
where the other ones are more hawks that fell All
four were kind of considered hawks that fell off, which
(17:45):
wanted to keep it up, So the other three that
came on are still kind of hawks. But at least
we've got one what they call dove on there, so
maybe we can get the fund fed funds to keep
coming down some. But really it's all going to be
inflation kind of what we'd start determining what Trump's policies
are going to, because I think that's still part of
the unknown sure of really what's coming from that, And
(18:07):
so we're just kind of all in a holding pattern
in around that's still in that seven percent range on
the thirty year fixed, and I mean, honestly some of
the numbers support that should be going down. We need
the ten year to get back below for fifty would
be ideal start going down from there, But I don't
know what in the news cycle is going to make
any kind of big moves to help us get down
(18:29):
there without some kind of policy update as far as
it's going to be something that would help drive the
mortgage rates down to make an influence, and or some
kind of wonky unemployment numbers. But again I think that's
gonna trail for another thirty or forty five days before
we get true on employment numbers that could impact and
help rates. So you know, I'm my attitude on it's
(18:51):
changed a little bit. But I also think that that's
supportive that we're doing okay as far as in everything else,
So very good.
Speaker 1 (19:00):
That's what I got. Sorry that wasn't great news or anything,
but it's kind of where we are. I mean, I think,
I mean, what we want to do as part of
the show is to bring what is going on literally
on a weekly basis. Yeah, And I mean there's people
that that this is all they do all day and
I listened to them project and then they're wrong, and
so it is. It's kind of the thing kind of
(19:21):
like weathermen. Yeah.
Speaker 2 (19:24):
Yeah, a lot of sledging going on, allegedly allegedly supposedly
but but no, So I mean, but again, I think
part of it is we've talked about this multiple tons
of times on this show. It takes some bad things
to get the rates to go down, and so it's
a lot of the economy is maybe a little stronger
(19:45):
and old fires.
Speaker 1 (19:46):
Would that do it? Well? It'll make insurance.
Speaker 2 (19:49):
Well it would, Yeah, make insurance go up. We already
has seen some of them is crazy. I mean literally
like subdivisions gone. Yeah, like houses, our ashes just just
done devastated. But so yeah, that those you know, but
we've already been taking so many hits on insurance. I mean,
(20:11):
I don't know where else it can go. I mean,
I mean, what what do you do?
Speaker 1 (20:14):
Hopefully they're making good investments so they can try to
keep our rates staying and.
Speaker 2 (20:18):
Some premiums down. But yeah, so that's been the only thing,
you know, they had. We had President President Carter's funerals.
So the market was closed on Thursday, which you know,
kind of made where some maybe some news things were
coming out, but we didn't really see what the market
really was going to do in full fledged and not. Yeah,
but so there's been a little bit of things that
were kind of getting some reports, but kind of seeing
how the market reacts. We'll find out more on Monday,
(20:40):
and kind of figuring out kind of where we're going.
Speaker 1 (20:42):
But well, what do you what do you? What do
you got?
Speaker 3 (20:44):
Do you like?
Speaker 1 (20:45):
My phone's been blowing up? Yep, I love it. You
can call it at two of five five four two,
nineteen ninety six, you can text that number two. People
are like I've had people out of the woodwork, like
I hadn't shown them in six months. Had multiple people
last weekend. We're like, hey, ready to get back going,
want to take a look at these properties? I said, sorry,
(21:06):
they're both under contract, both under contract. We had multiple
I was talking to multiple hour of our agents this
week and we had TJ wont a multiple offer deal.
Was really excited about it. Kyle is actually working a
deal with TJ. So I love seeing I love seeing
(21:28):
our agents work together deals. That's that's always fun to see.
Had multiple agents, you know, saying hey, can you help me,
and you know, prepping this offer, Like what are your thoughts?
So you know, I mean it's like we've got you know,
we talked about three coming soons, you know a little
bit earlier. I mean, we've got we've got stuff coming
(21:49):
down the pipeline and then the the following weeks. And
I can just tell that the sentiment is just way
more positive this this moment than at any time last year.
Oh for sure, literally at anytime last year. The sentiment
is better right now. So I'm pretty pomped about it.
(22:13):
You know, November and December, I was kind of getting
a little depressed. I wasn't like as super jazzed and excited,
even though I have to kind of portray it that way.
But man, I just feel like we've we've finally got
past the election. We finally got past twenty twenty four,
and people are like, let's go, let's go.
Speaker 2 (22:34):
Let's one I think I've been. I mean, yeah, I bet,
I bet. In the ten eleven days we've been in January,
I've had more prequel calls than I did in November
and December combined, a few a day, I mean on average.
So I mean it's it's I feel so much better now.
Speaker 3 (22:51):
Hey.
Speaker 1 (22:51):
We had one of our listeners call in and they
wanted to reach out and and say, hey, their house
is listed with another brokerage. But I wanted to at
least kind of give a shout out that there is
a house in Liberty Park. It's listed by another company
called ARC Realty, and it is currently for sale. Let
(23:14):
me find that text met here we go, forty seven
four Jackson Loop in Vestavia. Uh, they would love, they'd
love for you to come and take a look at it.
It is for seal and it's in I love Liberty Park.
It's one of my favorite neighborhoods price at seven fifty
four to nine, so I wanted to give that shout outs.
(23:37):
Thanks for joining us, We'll see you next week's week
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