Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Welcome to Bob Bart and Soul. Thanks so much for
joining us in the studio. We got Brad Smith from
Cross Country Mortgage bradsmithlans dot com.
Speaker 2 (00:10):
What's Brad? Good morning?
Speaker 3 (00:12):
What you know? Good man?
Speaker 1 (00:14):
I know a lot of things good and I might
have to take a week or two off from the
radio show. Oh yeah, I'm getting a hip replacement later
this week. And I'm like nervous and excited at the
same time. Yeah, I bet I would I get it? Yeah,
So man, So that's gonna be kind of you know,
(00:39):
it's it's going to change my world.
Speaker 3 (00:40):
Well, I mean it's that thing of you, like anticipation
of you've got to actually like do the surgery and
then you've got some recovery and some days that aren't
gonna be nice. But thinking about the life with the
comfort of having it once you're past it has got
to be exciting. And I mean because I mean when
you start having some stuff, I mean, it's a problem.
It affects everything.
Speaker 2 (01:00):
It's a problem.
Speaker 1 (01:01):
And uh but I am excited to be on the
other side of it where I mean I feel like
I can, you know, maybe eventually jog again, you know,
like I have I have issues like literally walking like
long distances, like we were up in New York last
or yeah, last month, and like after I walked after
for so long, my hip was just killing me. So
(01:24):
so that's kind of the newest thing on my horizon.
And luckily I've got some great team members that are
willing to help me out. So we are going to
be taking again, you know, as always, great care of
our clients in the real estate world. So the real
estate world has been busy. We're going to give you
a market update in our next segment, but we've got
(01:47):
some We've got an open house later today, We've got
a couple of new listings. We've got it coming soon,
and uh so I think it's probably a good time
for us, Brad to go ahead and have a to
talk about our open house and new listings and play
a game, play a mortgage game.
Speaker 3 (02:04):
Play the mortgage game. All right, So this week should
be a little less hectic for the ones that were
here last week. We're listening. We've only got John and
Gusty today. We don't have the third. Austin was here
last week, which was a lot of fun, but Gussy's
going to go through the coming soons or open houses today,
maybe a listing. They've a new list and they've got
He's gonna give us the purchase price at the list
price of that home. I will then give John and
(02:26):
Gusty a potential down payment that a borrower might make
to that home, and then John and Gusty will guess
the principal interest only of a thirty year fixed payment
on the potential mortgage. We do not word about scrows.
We will wear about private mortgage insurance. We are just
looking for the principal interest on a thirty year fixed
all right, Gusty, all right?
Speaker 1 (02:44):
Cool well. Open this afternoon from two to four. You
can go see Isaac Marvin on our team at thirteen
thirty one Potter Avenue. This is investment. The home was
built in nineteen fifty eight on over half an acre lot,
three veterans, one bath, eleven hundred and seventy six square feet,
(03:04):
and we are asking one hundred and fifteen thousand, one
hundred and fifteen thousand. This also it's got a storage
building that's going to be included, so that's nice. So
half an acre we like those, you know, I gotta
lots that people are built on now are just not
a half acre. They're like zero point five point two.
Speaker 3 (03:25):
I always say, I don't want to have to get
a better reach out of my bed, my bathroom window
and grab the neighbors saved out of theirs, right, so
fuck some of them, get that close, all right? One
hundred and fifteen, Yeah, one hundred and fifteen, fifteen thousand,
all right, putting five percent down? Okay, five percent down
to start, all right, one hundred and fifteen parts price,
five percent down, gusty.
Speaker 1 (03:44):
All right, it's to you, it is to me, and
I'm gonna go. Mmm, let me let me go with.
Speaker 3 (04:00):
Snuck up on him today, John, I got it, got
on him fast, and got on him quick.
Speaker 2 (04:06):
Seven eleven.
Speaker 4 (04:14):
I gotta say I was thinking, right at seven hundred,
I'm not trying to price your I was I was thinking, you're.
Speaker 3 (04:20):
Dude, is that true? Is that you're staying with seven hundred? All?
Speaker 2 (04:25):
Are you saying I shouldn't say a trick question.
Speaker 3 (04:28):
It's not a trick question at all, because I mean
it's y'all. I just you got quiet after Dodge one.
If that was your question, yeah, I seven, I'm going okay,
seven hundred. The actual payment was seven hundred and nineteen dollars.
So that's why I was like, I don't know, I'm
not trying to like, it's not like I felt like
he was going seven twelve. Then that would have been
Prices writing you Yeah no, Well and he didn't, So
(04:51):
Gusty gets around one one for.
Speaker 2 (04:52):
The good guys, one for the good guy. Wait, so
I'm the bad guy?
Speaker 3 (04:55):
Yeah?
Speaker 1 (04:56):
Well yeah, in this game, you are the bad guy.
I mean, there's no doubt about it. Now I will say,
I will say yeah, I mean yeah, the guy that
can mute my microphone is the bad guy.
Speaker 3 (05:07):
That's it. You're done, You're done. I must be rooting
for I always root for the bad guy now yeah. See,
I like the Joker. I always hope to get Batman,
you know, So I guess I'm pulling for John.
Speaker 1 (05:17):
So I was out of open house and this past
weekend and we had a very nice lady, her name
was Lisa, that came into our open house and bluff part.
She's like, yeah, I'll play the game and then I'm
guessing with you, and I'm like, all right, sweet, that's awesome.
So maybe you just won and meet us. Yeah, so
I guess you can go on the talk.
Speaker 4 (05:38):
We should have guests, We should have guest participants, you know,
no doubt, no doubt.
Speaker 1 (05:42):
Well, hey, we've got another new listing so that you
have another new chance to guess. Thirty two twelve Lee Court, Southwest.
This is in Birmingham. This one is three bedrooms in
one bath, built in nineteen seventy twelve hundred and eighty
six square feet. Has previously Actually this is for a
(06:04):
a cash flowing, newly remodeled home with a Section eight
tenant paying twelve hundred a month. So they're paying twelve
hundred a month, and the least terms of this, at
least terms is at least to June thirtieth, So you
got an occupent ninety nine to five. Is the list
price ninety nine five?
Speaker 3 (06:25):
Ninety nine five, okay, ninety nine to five. Since you
mentioned investor, I'm going to say an investor is gonna
put let's say, twenty five percent down twenty I will
give y'all a hint. The rent they're getting is higher
than the mortgage payment.
Speaker 2 (06:38):
Well, I appreciate that.
Speaker 3 (06:39):
So it's under twelve hundred. It's under twelve hundred.
Speaker 1 (06:42):
It seemed like that that was gonna be my guess
under twelve hundred, but I guess it's all.
Speaker 2 (06:47):
It is only one first.
Speaker 4 (06:49):
So we're financing like seventy five thousand dollars over thirty years.
Speaker 2 (06:54):
I'm gonna go.
Speaker 4 (06:57):
Five fifty five.
Speaker 3 (06:58):
Five fifty five for John.
Speaker 2 (07:03):
You know, John's getting better at this game.
Speaker 4 (07:05):
I've been listening for the last four years.
Speaker 3 (07:08):
John's been playing a lot for the past six seven,
eight months and then starting to He's getting dialed in,
as he would say, we're in the price points of
his house exactly. That's what I'm gonna say.
Speaker 2 (07:18):
Six.
Speaker 3 (07:20):
That's his line, not mine yet. Yeah, okay, I'm gonna
go five hundred dollars, five hundred dollars. The actual payment
was four hundred and ninety three dollars. Man, it's all
over it today. It's good. This is a good, good,
(07:42):
friendly competition.
Speaker 2 (07:43):
Would you look at that?
Speaker 3 (07:44):
Would you look at it?
Speaker 1 (07:45):
Yeah? All right, well rock and roll?
Speaker 3 (07:50):
All right, what's next? We got gussy's up too? Oh
but but it's been, it's been.
Speaker 2 (07:54):
We'll see nothing here.
Speaker 3 (07:57):
Yeah, we got too, we got technically got two more.
Speaker 2 (07:59):
I don't know about that.
Speaker 1 (08:00):
I don't know about doullar or nothing, you know, But
Brad's the rule maker, so I have just the game. Yeah, okay, Hey,
we got a new listing in balan Tree and Pelham.
Have you ever been Have y'all ever been to Balantrae?
Speaker 3 (08:12):
Yeah?
Speaker 2 (08:13):
John, have you ever been out there?
Speaker 4 (08:14):
If I have, I don't remember.
Speaker 1 (08:16):
Man it well, it's one of the most beautiful courses.
It takes a minute to get there, but it's a
beautiful home, beautiful neighborhood, beautiful golf in two twenty nine
Ambergate Circle could be years. This one was built in
twenty twenty four bedrooms, three baths, three car garage, twenty
(08:36):
seven hundred and sixty three square feet and we are
asking five hundred and sixty thousand dollars. Five hundred and
sixty thousand dollars. So that's a listening as courtesy John Riddle. So, John,
congratulations on your new listing. Five sixty putting ten percent down,
ten percent, ten percent down, five sixty purchase price, ten
(08:58):
percent down. Gusty it is on you. Oh okay, you
said ten percent down, ten percent. Okay, I'm gonna go
with thirty two ninety one.
Speaker 3 (09:23):
Thirty two ninety one, got it all right.
Speaker 2 (09:28):
I like random numbers. Except I had five hundred.
Speaker 3 (09:31):
Last time, well it was four ninety three, so it
served you well. Last time.
Speaker 2 (09:37):
You said thirty two.
Speaker 4 (09:39):
I'm gonna because I really have nothing to basis on
three thousand, even.
Speaker 3 (09:43):
Three thousand, even the actual payment was three thousand, three
hundred and nineteen dollars. Gusty gets it again. Gusty is
on fire, fire, fire fire. I'm i'ma have to see
what the total combined these are?
Speaker 1 (09:55):
All right, we got it, hey, we got it coming soon. Well,
I guess I won the game. You won the game, clean, clean,
we woo and it didn't have to even go.
Speaker 3 (10:02):
To the weekend.
Speaker 1 (10:03):
That's right, that's right, Hey, we got it coming soon
in the Russet Valley neighborhood over right beside Hoover in
the it's basically in the county. Built ninety three, twelve
hundred and ninety three square feet, three bedrooms and two baths.
We're asking two hundred and fifty thousand. That listing is
going to be coming up from TJ. Cunningham. TJ's man,
(10:24):
he's rocking, got another one. It looks like we're about
to go under contract with TJ. So proud of you man, probably, yeah, yeah, hey,
we do. We do have some VP buyers that I
want to touch base with you. If you are considering
selling a home in Edgewood or Homewood just in general,
let me know if it, you know, before coming to
(10:46):
market or anything. If we've got multiple people that are
looking to make a change this summer after school ends
and before next year's school starts, so Homewood is a
big key for us. We've also got a couple of
folks that are looking in Vestavia and Hoover up to
four hundred thousand, So if you've got a home that
(11:09):
might match that, please let us know. You can always
go to Gustygoulisgroup dot com, or you can go to
two oh five five four to two nineteen ninety six.
And as always, if if you've inherited a home, or
you've got a rental gone bad, or you just looking
for a quick cash sell on a property, well we
have a group of investors that would be interested in that.
(11:30):
So again you can just go to our website and
you can also text us to a five five four
two nineteen ninety six.
Speaker 2 (11:37):
Hey Brad, guess what time it is? It's testimonial time?
All right? That was so good. That was like on point,
just just clean.
Speaker 3 (11:49):
I was ready this time.
Speaker 1 (11:50):
We got we got one today. And this is about Brianna.
Brianna did a good excuse me, not a good, a
great job in helping me find a great home. She
is very nice and punctual. She was always very knowledgeable
and had great communication skills. I will be recommending her
to anyone I know that is looking to buy a
(12:11):
new home. So Brianna, congratulations on just a great job.
And uh, man, I really messed that one up.
Speaker 3 (12:20):
And another.
Speaker 2 (12:22):
That's the first one.
Speaker 1 (12:25):
I mean, she's had some, she had some five stars,
but I really messed it up because I didn't see
the name on there. But hey, congratulations on your new home.
And Brianna, congratulations on.
Speaker 3 (12:35):
Another five star review.
Speaker 1 (12:39):
We were so good, we were so on point on theirstimonial.
Time were completely messed up the second one jump in
and yeah, that was man, that was bad. That was
that was It was a great review.
Speaker 2 (12:55):
Reveal.
Speaker 3 (12:56):
The review was awesome.
Speaker 2 (12:57):
The review was all right, Hey, y'all, stay tuned.
Speaker 1 (13:01):
We're gonna talk about what we're seeing in the market
right now. We had a crazy open house this past weekend,
so we're gonna talk to you about what's going on
in the market, real estate wise, mortgage wise, mortgage wise
right here on Bardon Soul.
Speaker 2 (13:20):
All right, we are.
Speaker 1 (13:21):
Back, Bob Bart and Saul. Thanks so much for joining
us as always. Brad Smith from a cross cross country
mortgage hanging out with us.
Speaker 2 (13:28):
Man, you've been closing some of our closing some of
our deals.
Speaker 3 (13:32):
Yeah, it's been a good start, been a good start
of the year. Really again, I mean it's it's the
conversations are happening more and more every day, just people
asking looking, you know, should I do something now? Should
I wait six months? I gotta do something now. I
had one call the other day, So I'm trying something.
I'm gonna buy a now or two years from now,
you know. Okay, Well, let's let's lay it out there
(13:52):
and see like what your hesitations or what your reservations are, right,
what's what's what? What's making you think you want to
buy one now or in two years from now?
Speaker 2 (14:01):
Yeah?
Speaker 3 (14:01):
So, you know, but those are good conversations to have
you start really kind of feeling that where Smoo's mindset is,
and maybe some of the things they think are going
to be hurdles aren't really hurdles. Yeah, they really want
to buy now, but just don't think they can. I
think people are shocked sometimes to see like how how
advantageous some of the lending options are and how much
little you really have to have upfront. So I think
(14:22):
people are starting to get excited again.
Speaker 2 (14:25):
Yeah, no, that makes sense, you know, I tell you.
Speaker 1 (14:28):
So last weekend we had an open house in Bluff
Part Now, this house was amazing, it's all shades, crest,
amazing view and it was a home that you could
move into, but it was most likely somebody was going
to come in and renovate, right, So we had we
did our marketing plan and had coming soon with all
(14:51):
of our pictures up. We had multiple open houses. Man,
I think we had forty plus groups come in and
two day open house period.
Speaker 2 (15:01):
I mean, it was busy. It was busy, and we
ended up with six offers in hand.
Speaker 3 (15:06):
Oh wow, that's all.
Speaker 1 (15:07):
And the price was three seventy five and it went
a significantly above list price. And that's always fun to
be a part of in those situations, you know. I mean,
so I would consider that more of like a super
success story, right, because we have and we've had multiple
super success stories. Already this year. And so what that's
(15:30):
telling me in the real estate market right now is
interest rates, while important, are not necessarily impeding somebody from
making offers for moving forward. So that's number one. Number two,
I mean, we're seeing a little bit increase in homes
on the market, so a little bit more if you're
a buyer, a little bit more selection. I really feel
(15:55):
like our new construction selection, depending on the price point,
is actually pretty good right now, especially if you're like
looking in the Hoover area or some of the you know,
outer skirts areas of town. I mean, I feel like
there's some really good options that are out there right now.
So I feel like, and just in the sentiment of
what we are hearing from buyers and a lot of buyers,
(16:18):
their first time home buyers, they're they're seeing houses on
the different websites, whether it's Gusty, Goul's groups, allow different things.
They're they're coming to the open houses, they're interested. People
are excited about buying a house, and they're buying it
for whatever reasons. Maybe people are getting married, maybe people
are needing to be in a certain school district where
(16:39):
in some instances we've we've had people that are investment
homes that are flips, and then we've had people that
are going to nursing homes.
Speaker 2 (16:46):
So you know, everybody has kind.
Speaker 1 (16:48):
Of a different reason for selling, and and really it's
it's our job to really build that plan of action together.
And so like the home that we posted last weekend,
we started work on that in November, the week before.
The one that we put under contract in Woodfern that
I think it's actually closing tomorrow, we started working on
that one in October, right, you know, so some of
(17:09):
these we work on a few months before they ever
go to market because we're having to, you know, put
that plan together. And so what I would encourage you
if like you're listening, you know, our selling season really
starts in March, but our selling season has already I mean,
like we've already kicked off. Oh I feel like, so
if you have thought about selling this year, like, now's
(17:31):
the time for you to call our team and build
a plan of action together. That's right, And so that
we can come to market at the right time, the
right strategy, and so that we can maximize your assets.
Speaker 3 (17:46):
That's right. Oh No, there's no doubt. And I mean
I think it's I think it's just it's already I
mean we've talked about now for the first one month
of the year. It's already just seeing that those things
are coming together. Yeah, and you know, you'd kind of
touched on the mint ago, like you know, rates are important,
but not as important. And part of that, the part
of that reason is the longer they stay up, the
(18:08):
more used to people get to that number. And again,
we spent such a long time and signed it kind
of a fake mortgage rate environment that didn't really it
was all kind of manufactured through the different government purchases
and or some different crazy things in the economy. COVID
housing crisises in the late two thousands, ay tens, and
(18:32):
so a lot of those are what kept the rates
in the fourth threes and too. So you have a
whole decade, decade, you know, fifteen years of people that
have just gotten used to it being you know, high
fours was a high rate, you know, four point seventy five.
Four point seventy five.
Speaker 1 (18:45):
I mean literally I remember like people like man, I
don't want look, I'm just gonna wait for them to
come down.
Speaker 3 (18:50):
I can't get the four and a half if I
can't get If I can't get under four, I'm just
gonna wait, you know, and they crazy, Yeah, it's crazy.
Speaker 1 (18:57):
And now it's like we could get to four and
a half, Like I mean, that would be that's like
a whole wouldn't know what to do, wouldn't We really
would not know.
Speaker 3 (19:05):
We'd have a flood of people back into our industry
and then they back out and they came back up.
Speaker 2 (19:09):
Imagine the multiple offer situations that would bring.
Speaker 3 (19:12):
It would be nuts. So again I'm not even really
like I think the high mid fives is a pretty
balanced to comomedy, pretty balanced market, and so that's really
what we're trying to get back to, right, and so
we see some things coming. But but but again, we
were now what three years and a little over three
years now of rates beIN in the somewhere in the
sixes to sevens and if not even like the high
(19:32):
sevens over that span. So people, are you just retrained
the brain of your your first time home buyers now
have only seen these rates. It's your your your second
time home buyers are the ones that are kind of like,
you know, they're the ones that are you know that
they've already bought their first home and they're at two
point eight seventy five or three and a quarter and
they're going, we need a bigger house. But God, will
you how what happened to interest rates? And that this
(19:54):
is really more in line with what historical mortgage rates are.
So again, I think people just became and more comfortable
with it and understanding that that's just what the market
is and what the rates are. But it doesn't impede
life from happening and needing to make moves and do something.
So it's it's been exciting. I mean, we rates, We've
had a pretty good week on the rate side.
Speaker 1 (20:15):
Yeah, Like the ten year treasury has been kind of
going down, going down, and I love that, Yes, that
and that's the that I love.
Speaker 3 (20:24):
It, love it, love it so so so we we're
you know, we're even going to brag a little bit
that that the average mortgage rates are under seven back
again around six point eight three percent national average down.
But keep coming, keep coming. You know, we got some
you know, we're kind of keeping an eye on the
Treasuries department. You know that they came out earlier in
the week and just said, hey, we're going to keep
issuing treasuries at a similar pace, which was really good
(20:46):
for the for the mortgage bonds because that's some of
the some of the things that we're alluding to this
new administration maybe do is issuing more more treasuries which
would be competing with our mortgage bonds and other stuff.
So they they're going to hold steady thought they may
be increasing that. So that was a big, big announcement
that we kind of got some what.
Speaker 2 (21:04):
Kind of increased treasuries would they add?
Speaker 3 (21:07):
So what they're what they're what kind of what the
the underlying is they're going to keep it more short
term rate treasuries they're going to sell so like to
to try to not longer term, which is one of
the things they'd said, Well maybe when Jennet Yellen did
it did it a few years ago, she was issuing
longer terms, so they were directly competing. So this is
(21:29):
more of a short term treasuries that they're going to
be issuing and not going to be flooding it with
more to try to offset some of the debt and
spending it.
Speaker 1 (21:35):
So what do they consider short term? Are they think
like six month, one year, five year?
Speaker 3 (21:40):
Yeah? Yeah, I mean honestly, I would say, yeah, five years,
five years a short term. Yeah, I mean I think
I think a lot of the stuff is based off
that ten year treasury. So I think, you know, pretty
much anything under that but three five, three one, So
just things that aren't competing with ten plus, gotcha. And
so you know, we were still kind of waiting on
jobs reports. We're still getting them some new jobs numbers,
(22:02):
but we haven't got full revisions yet. I think I
think that's going to be a key indicator of what
rates do.
Speaker 1 (22:08):
Uh.
Speaker 3 (22:08):
You know, we now that we've kind of seen what
Trump's tariffs are doing as far as more of a
negotiation tactics to get other things that he wants. Yeah,
the word tariff isn't freaking out the markets as much
as it was. So so we've settled in a little bit.
Speaker 1 (22:22):
Yeah, because I mean we saw that his negotiations has
put in ten thousand troops in Canada, ten thousand in
Mexico or at least in the works, right, all for
I guess drugs and immigration. Yeah, but yes, it was
freaking out the market.
Speaker 3 (22:37):
Yeah. So so all those tariffs because because because it's
the tariffs is a very is not a you know,
we're wanting we're wanting to see inflation slow down. The
tariffs in bringing more money into the United States, which
we all want more money, but that is not good
for me. That does not help decrease the inflation rate.
It's going to increase it. So that's so you hear
(22:58):
the word tariffs in the market for you out a
little bit about inflation, which would make mortgageates. If inflation
continued to rise at a higher pace than what we're
trying to get it to do, then mortgage rates could
go up. And so yeah, we don't want that. We
don't want that. So you're you see all these balancing things.
We're looking for jobs, reports, looking for inflation, but we're
talking about tariffs that could cause more inflation. So I mean,
we're it's it's really reacting knee jerk reactions on a
(23:22):
daily basis. But we're seeing some good technicals in some
good form there.
Speaker 1 (23:25):
So anyways, have you thought about, you know, vacationing in
the Gaza Riviera.
Speaker 3 (23:29):
You know, here's gorgeous this time of year.
Speaker 1 (23:32):
Oh my lord, interesting times. We live in interesting times. Hey.
For all of your real estate needs, go to Gustigulisgroup
dot com. To get pre qualified for a mortgage, go
to brad Smith loans dot com. Thank you so much
for joining us. We hope you have an amazing week
and wish me luck on my surgery.
Speaker 3 (23:51):
Wishing you luck on your surgery and we'll figure out
the plan for next week as well.
Speaker 2 (23:55):
Figure it out all right, y'all, Take care,
Welcome to Bob Bart and Soul. Thanks so much for
joining us in the studio. We got Brad Smith from
Cross Country Mortgage bradsmithlans dot com.
Speaker 2 (00:10):
What's Brad? Good morning?
Speaker 3 (00:12):
What you know? Good man?
Speaker 1 (00:14):
I know a lot of things good and I might
have to take a week or two off from the
radio show. Oh yeah, I'm getting a hip replacement later
this week. And I'm like nervous and excited at the
same time. Yeah, I bet I would I get it? Yeah,
So man, So that's gonna be kind of you know,
(00:39):
it's it's going to change my world.
Speaker 3 (00:40):
Well, I mean it's that thing of you, like anticipation
of you've got to actually like do the surgery and
then you've got some recovery and some days that aren't
gonna be nice. But thinking about the life with the
comfort of having it once you're past it has got
to be exciting. And I mean because I mean when
you start having some stuff, I mean, it's a problem.
It affects everything.
Speaker 2 (01:00):
It's a problem.
Speaker 1 (01:01):
And uh but I am excited to be on the
other side of it where I mean I feel like
I can, you know, maybe eventually jog again, you know,
like I have I have issues like literally walking like
long distances, like we were up in New York last
or yeah, last month, and like after I walked after
for so long, my hip was just killing me. So
(01:24):
so that's kind of the newest thing on my horizon.
And luckily I've got some great team members that are
willing to help me out. So we are going to
be taking again, you know, as always, great care of
our clients in the real estate world. So the real
estate world has been busy. We're going to give you
a market update in our next segment, but we've got
(01:47):
some We've got an open house later today, We've got
a couple of new listings. We've got it coming soon,
and uh so I think it's probably a good time
for us, Brad to go ahead and have a to
talk about our open house and new listings and play
a game, play a mortgage game.
Speaker 3 (02:04):
Play the mortgage game. All right, So this week should
be a little less hectic for the ones that were
here last week. We're listening. We've only got John and
Gusty today. We don't have the third. Austin was here
last week, which was a lot of fun, but Gussy's
going to go through the coming soons or open houses today,
maybe a listing. They've a new list and they've got
He's gonna give us the purchase price at the list
price of that home. I will then give John and
(02:26):
Gusty a potential down payment that a borrower might make
to that home, and then John and Gusty will guess
the principal interest only of a thirty year fixed payment
on the potential mortgage. We do not word about scrows.
We will wear about private mortgage insurance. We are just
looking for the principal interest on a thirty year fixed
all right, Gusty, all right?
Speaker 1 (02:44):
Cool well. Open this afternoon from two to four. You
can go see Isaac Marvin on our team at thirteen
thirty one Potter Avenue. This is investment. The home was
built in nineteen fifty eight on over half an acre lot,
three veterans, one bath, eleven hundred and seventy six square feet,
(03:04):
and we are asking one hundred and fifteen thousand, one
hundred and fifteen thousand. This also it's got a storage
building that's going to be included, so that's nice. So
half an acre we like those, you know, I gotta
lots that people are built on now are just not
a half acre. They're like zero point five point two.
Speaker 3 (03:25):
I always say, I don't want to have to get
a better reach out of my bed, my bathroom window
and grab the neighbors saved out of theirs, right, so
fuck some of them, get that close, all right? One
hundred and fifteen, Yeah, one hundred and fifteen, fifteen thousand,
all right, putting five percent down? Okay, five percent down
to start, all right, one hundred and fifteen parts price,
five percent down, gusty.
Speaker 1 (03:44):
All right, it's to you, it is to me, and
I'm gonna go. Mmm, let me let me go with.
Speaker 3 (04:00):
Snuck up on him today, John, I got it, got
on him fast, and got on him quick.
Speaker 2 (04:06):
Seven eleven.
Speaker 4 (04:14):
I gotta say I was thinking, right at seven hundred,
I'm not trying to price your I was I was thinking, you're.
Speaker 3 (04:20):
Dude, is that true? Is that you're staying with seven hundred? All?
Speaker 2 (04:25):
Are you saying I shouldn't say a trick question.
Speaker 3 (04:28):
It's not a trick question at all, because I mean
it's y'all. I just you got quiet after Dodge one.
If that was your question, yeah, I seven, I'm going okay,
seven hundred. The actual payment was seven hundred and nineteen dollars.
So that's why I was like, I don't know, I'm
not trying to like, it's not like I felt like
he was going seven twelve. Then that would have been
Prices writing you Yeah no, Well and he didn't, So
(04:51):
Gusty gets around one one for.
Speaker 2 (04:52):
The good guys, one for the good guy. Wait, so
I'm the bad guy?
Speaker 3 (04:55):
Yeah?
Speaker 1 (04:56):
Well yeah, in this game, you are the bad guy.
I mean, there's no doubt about it. Now I will say,
I will say yeah, I mean yeah, the guy that
can mute my microphone is the bad guy.
Speaker 3 (05:07):
That's it. You're done, You're done. I must be rooting
for I always root for the bad guy now yeah. See,
I like the Joker. I always hope to get Batman,
you know, So I guess I'm pulling for John.
Speaker 1 (05:17):
So I was out of open house and this past
weekend and we had a very nice lady, her name
was Lisa, that came into our open house and bluff part.
She's like, yeah, I'll play the game and then I'm
guessing with you, and I'm like, all right, sweet, that's awesome.
So maybe you just won and meet us. Yeah, so
I guess you can go on the talk.
Speaker 4 (05:38):
We should have guests, We should have guest participants, you know,
no doubt, no doubt.
Speaker 1 (05:42):
Well, hey, we've got another new listing so that you
have another new chance to guess. Thirty two twelve Lee Court, Southwest.
This is in Birmingham. This one is three bedrooms in
one bath, built in nineteen seventy twelve hundred and eighty
six square feet. Has previously Actually this is for a
(06:04):
a cash flowing, newly remodeled home with a Section eight
tenant paying twelve hundred a month. So they're paying twelve
hundred a month, and the least terms of this, at
least terms is at least to June thirtieth, So you
got an occupent ninety nine to five. Is the list
price ninety nine five?
Speaker 3 (06:25):
Ninety nine five, okay, ninety nine to five. Since you
mentioned investor, I'm going to say an investor is gonna
put let's say, twenty five percent down twenty I will
give y'all a hint. The rent they're getting is higher
than the mortgage payment.
Speaker 2 (06:38):
Well, I appreciate that.
Speaker 3 (06:39):
So it's under twelve hundred. It's under twelve hundred.
Speaker 1 (06:42):
It seemed like that that was gonna be my guess
under twelve hundred, but I guess it's all.
Speaker 2 (06:47):
It is only one first.
Speaker 4 (06:49):
So we're financing like seventy five thousand dollars over thirty years.
Speaker 2 (06:54):
I'm gonna go.
Speaker 4 (06:57):
Five fifty five.
Speaker 3 (06:58):
Five fifty five for John.
Speaker 2 (07:03):
You know, John's getting better at this game.
Speaker 4 (07:05):
I've been listening for the last four years.
Speaker 3 (07:08):
John's been playing a lot for the past six seven,
eight months and then starting to He's getting dialed in,
as he would say, we're in the price points of
his house exactly. That's what I'm gonna say.
Speaker 2 (07:18):
Six.
Speaker 3 (07:20):
That's his line, not mine yet. Yeah, okay, I'm gonna
go five hundred dollars, five hundred dollars. The actual payment
was four hundred and ninety three dollars. Man, it's all
over it today. It's good. This is a good, good,
(07:42):
friendly competition.
Speaker 2 (07:43):
Would you look at that?
Speaker 3 (07:44):
Would you look at it?
Speaker 1 (07:45):
Yeah? All right, well rock and roll?
Speaker 3 (07:50):
All right, what's next? We got gussy's up too? Oh
but but it's been, it's been.
Speaker 2 (07:54):
We'll see nothing here.
Speaker 3 (07:57):
Yeah, we got too, we got technically got two more.
Speaker 2 (07:59):
I don't know about that.
Speaker 1 (08:00):
I don't know about doullar or nothing, you know, But
Brad's the rule maker, so I have just the game. Yeah, okay, Hey,
we got a new listing in balan Tree and Pelham.
Have you ever been Have y'all ever been to Balantrae?
Speaker 3 (08:12):
Yeah?
Speaker 2 (08:13):
John, have you ever been out there?
Speaker 4 (08:14):
If I have, I don't remember.
Speaker 1 (08:16):
Man it well, it's one of the most beautiful courses.
It takes a minute to get there, but it's a
beautiful home, beautiful neighborhood, beautiful golf in two twenty nine
Ambergate Circle could be years. This one was built in
twenty twenty four bedrooms, three baths, three car garage, twenty
(08:36):
seven hundred and sixty three square feet and we are
asking five hundred and sixty thousand dollars. Five hundred and
sixty thousand dollars. So that's a listening as courtesy John Riddle. So, John,
congratulations on your new listing. Five sixty putting ten percent down,
ten percent, ten percent down, five sixty purchase price, ten
(08:58):
percent down. Gusty it is on you. Oh okay, you
said ten percent down, ten percent. Okay, I'm gonna go
with thirty two ninety one.
Speaker 3 (09:23):
Thirty two ninety one, got it all right.
Speaker 2 (09:28):
I like random numbers. Except I had five hundred.
Speaker 3 (09:31):
Last time, well it was four ninety three, so it
served you well. Last time.
Speaker 2 (09:37):
You said thirty two.
Speaker 4 (09:39):
I'm gonna because I really have nothing to basis on
three thousand, even.
Speaker 3 (09:43):
Three thousand, even the actual payment was three thousand, three
hundred and nineteen dollars. Gusty gets it again. Gusty is
on fire, fire, fire fire. I'm i'ma have to see
what the total combined these are?
Speaker 1 (09:55):
All right, we got it, hey, we got it coming soon. Well,
I guess I won the game. You won the game, clean, clean,
we woo and it didn't have to even go.
Speaker 3 (10:02):
To the weekend.
Speaker 1 (10:03):
That's right, that's right, Hey, we got it coming soon
in the Russet Valley neighborhood over right beside Hoover in
the it's basically in the county. Built ninety three, twelve
hundred and ninety three square feet, three bedrooms and two baths.
We're asking two hundred and fifty thousand. That listing is
going to be coming up from TJ. Cunningham. TJ's man,
(10:24):
he's rocking, got another one. It looks like we're about
to go under contract with TJ. So proud of you man, probably, yeah, yeah, hey,
we do. We do have some VP buyers that I
want to touch base with you. If you are considering
selling a home in Edgewood or Homewood just in general,
let me know if it, you know, before coming to
(10:46):
market or anything. If we've got multiple people that are
looking to make a change this summer after school ends
and before next year's school starts, so Homewood is a
big key for us. We've also got a couple of
folks that are looking in Vestavia and Hoover up to
four hundred thousand, So if you've got a home that
(11:09):
might match that, please let us know. You can always
go to Gustygoulisgroup dot com, or you can go to
two oh five five four to two nineteen ninety six.
And as always, if if you've inherited a home, or
you've got a rental gone bad, or you just looking
for a quick cash sell on a property, well we
have a group of investors that would be interested in that.
(11:30):
So again you can just go to our website and
you can also text us to a five five four
two nineteen ninety six.
Speaker 2 (11:37):
Hey Brad, guess what time it is? It's testimonial time?
All right? That was so good. That was like on point,
just just clean.
Speaker 3 (11:49):
I was ready this time.
Speaker 1 (11:50):
We got we got one today. And this is about Brianna.
Brianna did a good excuse me, not a good, a
great job in helping me find a great home. She
is very nice and punctual. She was always very knowledgeable
and had great communication skills. I will be recommending her
to anyone I know that is looking to buy a
(12:11):
new home. So Brianna, congratulations on just a great job.
And uh, man, I really messed that one up.
Speaker 3 (12:20):
And another.
Speaker 2 (12:22):
That's the first one.
Speaker 1 (12:25):
I mean, she's had some, she had some five stars,
but I really messed it up because I didn't see
the name on there. But hey, congratulations on your new home.
And Brianna, congratulations on.
Speaker 3 (12:35):
Another five star review.
Speaker 1 (12:39):
We were so good, we were so on point on theirstimonial.
Time were completely messed up the second one jump in
and yeah, that was man, that was bad. That was
that was It was a great review.
Speaker 2 (12:55):
Reveal.
Speaker 3 (12:56):
The review was awesome.
Speaker 2 (12:57):
The review was all right, Hey, y'all, stay tuned.
Speaker 1 (13:01):
We're gonna talk about what we're seeing in the market
right now. We had a crazy open house this past weekend,
so we're gonna talk to you about what's going on
in the market, real estate wise, mortgage wise, mortgage wise
right here on Bardon Soul.
Speaker 2 (13:20):
All right, we are.
Speaker 1 (13:21):
Back, Bob Bart and Saul. Thanks so much for joining
us as always. Brad Smith from a cross cross country
mortgage hanging out with us.
Speaker 2 (13:28):
Man, you've been closing some of our closing some of
our deals.
Speaker 3 (13:32):
Yeah, it's been a good start, been a good start
of the year. Really again, I mean it's it's the
conversations are happening more and more every day, just people
asking looking, you know, should I do something now? Should
I wait six months? I gotta do something now. I
had one call the other day, So I'm trying something.
I'm gonna buy a now or two years from now,
you know. Okay, Well, let's let's lay it out there
(13:52):
and see like what your hesitations or what your reservations are, right,
what's what's what? What's making you think you want to
buy one now or in two years from now?
Speaker 2 (14:01):
Yeah?
Speaker 3 (14:01):
So, you know, but those are good conversations to have
you start really kind of feeling that where Smoo's mindset is,
and maybe some of the things they think are going
to be hurdles aren't really hurdles. Yeah, they really want
to buy now, but just don't think they can. I
think people are shocked sometimes to see like how how
advantageous some of the lending options are and how much
little you really have to have upfront. So I think
(14:22):
people are starting to get excited again.
Speaker 2 (14:25):
Yeah, no, that makes sense, you know, I tell you.
Speaker 1 (14:28):
So last weekend we had an open house in Bluff
Part Now, this house was amazing, it's all shades, crest,
amazing view and it was a home that you could
move into, but it was most likely somebody was going
to come in and renovate, right, So we had we
did our marketing plan and had coming soon with all
(14:51):
of our pictures up. We had multiple open houses. Man,
I think we had forty plus groups come in and
two day open house period.
Speaker 2 (15:01):
I mean, it was busy. It was busy, and we
ended up with six offers in hand.
Speaker 3 (15:06):
Oh wow, that's all.
Speaker 1 (15:07):
And the price was three seventy five and it went
a significantly above list price. And that's always fun to
be a part of in those situations, you know. I mean,
so I would consider that more of like a super
success story, right, because we have and we've had multiple
super success stories. Already this year. And so what that's
(15:30):
telling me in the real estate market right now is
interest rates, while important, are not necessarily impeding somebody from
making offers for moving forward. So that's number one. Number two,
I mean, we're seeing a little bit increase in homes
on the market, so a little bit more if you're
a buyer, a little bit more selection. I really feel
(15:55):
like our new construction selection, depending on the price point,
is actually pretty good right now, especially if you're like
looking in the Hoover area or some of the you know,
outer skirts areas of town. I mean, I feel like
there's some really good options that are out there right now.
So I feel like, and just in the sentiment of
what we are hearing from buyers and a lot of buyers,
(16:18):
their first time home buyers, they're they're seeing houses on
the different websites, whether it's Gusty, Goul's groups, allow different things.
They're they're coming to the open houses, they're interested. People
are excited about buying a house, and they're buying it
for whatever reasons. Maybe people are getting married, maybe people
are needing to be in a certain school district where
(16:39):
in some instances we've we've had people that are investment
homes that are flips, and then we've had people that
are going to nursing homes.
Speaker 2 (16:46):
So you know, everybody has kind.
Speaker 1 (16:48):
Of a different reason for selling, and and really it's
it's our job to really build that plan of action together.
And so like the home that we posted last weekend,
we started work on that in November, the week before.
The one that we put under contract in Woodfern that
I think it's actually closing tomorrow, we started working on
that one in October, right, you know, so some of
(17:09):
these we work on a few months before they ever
go to market because we're having to, you know, put
that plan together. And so what I would encourage you
if like you're listening, you know, our selling season really
starts in March, but our selling season has already I mean,
like we've already kicked off. Oh I feel like, so
if you have thought about selling this year, like, now's
(17:31):
the time for you to call our team and build
a plan of action together. That's right, And so that
we can come to market at the right time, the
right strategy, and so that we can maximize your assets.
Speaker 3 (17:46):
That's right. Oh No, there's no doubt. And I mean
I think it's I think it's just it's already I
mean we've talked about now for the first one month
of the year. It's already just seeing that those things
are coming together. Yeah, and you know, you'd kind of
touched on the mint ago, like you know, rates are important,
but not as important. And part of that, the part
of that reason is the longer they stay up, the
(18:08):
more used to people get to that number. And again,
we spent such a long time and signed it kind
of a fake mortgage rate environment that didn't really it
was all kind of manufactured through the different government purchases
and or some different crazy things in the economy. COVID
housing crisises in the late two thousands, ay tens, and
(18:32):
so a lot of those are what kept the rates
in the fourth threes and too. So you have a
whole decade, decade, you know, fifteen years of people that
have just gotten used to it being you know, high
fours was a high rate, you know, four point seventy five.
Four point seventy five.
Speaker 1 (18:45):
I mean literally I remember like people like man, I
don't want look, I'm just gonna wait for them to
come down.
Speaker 3 (18:50):
I can't get the four and a half if I
can't get If I can't get under four, I'm just
gonna wait, you know, and they crazy, Yeah, it's crazy.
Speaker 1 (18:57):
And now it's like we could get to four and
a half, Like I mean, that would be that's like
a whole wouldn't know what to do, wouldn't We really
would not know.
Speaker 3 (19:05):
We'd have a flood of people back into our industry
and then they back out and they came back up.
Speaker 2 (19:09):
Imagine the multiple offer situations that would bring.
Speaker 3 (19:12):
It would be nuts. So again I'm not even really
like I think the high mid fives is a pretty
balanced to comomedy, pretty balanced market, and so that's really
what we're trying to get back to, right, and so
we see some things coming. But but but again, we
were now what three years and a little over three
years now of rates beIN in the somewhere in the
sixes to sevens and if not even like the high
(19:32):
sevens over that span. So people, are you just retrained
the brain of your your first time home buyers now
have only seen these rates. It's your your your second
time home buyers are the ones that are kind of like,
you know, they're the ones that are you know that
they've already bought their first home and they're at two
point eight seventy five or three and a quarter and
they're going, we need a bigger house. But God, will
you how what happened to interest rates? And that this
(19:54):
is really more in line with what historical mortgage rates are.
So again, I think people just became and more comfortable
with it and understanding that that's just what the market
is and what the rates are. But it doesn't impede
life from happening and needing to make moves and do something.
So it's it's been exciting. I mean, we rates, We've
had a pretty good week on the rate side.
Speaker 1 (20:15):
Yeah, Like the ten year treasury has been kind of
going down, going down, and I love that, Yes, that
and that's the that I love.
Speaker 3 (20:24):
It, love it, love it so so so we we're
you know, we're even going to brag a little bit
that that the average mortgage rates are under seven back
again around six point eight three percent national average down.
But keep coming, keep coming. You know, we got some
you know, we're kind of keeping an eye on the
Treasuries department. You know that they came out earlier in
the week and just said, hey, we're going to keep
issuing treasuries at a similar pace, which was really good
(20:46):
for the for the mortgage bonds because that's some of
the some of the things that we're alluding to this
new administration maybe do is issuing more more treasuries which
would be competing with our mortgage bonds and other stuff.
So they they're going to hold steady thought they may
be increasing that. So that was a big, big announcement
that we kind of got some what.
Speaker 2 (21:04):
Kind of increased treasuries would they add?
Speaker 3 (21:07):
So what they're what they're what kind of what the
the underlying is they're going to keep it more short
term rate treasuries they're going to sell so like to
to try to not longer term, which is one of
the things they'd said, Well maybe when Jennet Yellen did
it did it a few years ago, she was issuing
longer terms, so they were directly competing. So this is
(21:29):
more of a short term treasuries that they're going to
be issuing and not going to be flooding it with
more to try to offset some of the debt and
spending it.
Speaker 1 (21:35):
So what do they consider short term? Are they think
like six month, one year, five year?
Speaker 3 (21:40):
Yeah? Yeah, I mean honestly, I would say, yeah, five years,
five years a short term. Yeah, I mean I think
I think a lot of the stuff is based off
that ten year treasury. So I think, you know, pretty
much anything under that but three five, three one, So
just things that aren't competing with ten plus, gotcha. And
so you know, we were still kind of waiting on
jobs reports. We're still getting them some new jobs numbers,
(22:02):
but we haven't got full revisions yet. I think I
think that's going to be a key indicator of what
rates do.
Speaker 1 (22:08):
Uh.
Speaker 3 (22:08):
You know, we now that we've kind of seen what
Trump's tariffs are doing as far as more of a
negotiation tactics to get other things that he wants. Yeah,
the word tariff isn't freaking out the markets as much
as it was. So so we've settled in a little bit.
Speaker 1 (22:22):
Yeah, because I mean we saw that his negotiations has
put in ten thousand troops in Canada, ten thousand in
Mexico or at least in the works, right, all for
I guess drugs and immigration. Yeah, but yes, it was
freaking out the market.
Speaker 3 (22:37):
Yeah. So so all those tariffs because because because it's
the tariffs is a very is not a you know,
we're wanting we're wanting to see inflation slow down. The
tariffs in bringing more money into the United States, which
we all want more money, but that is not good
for me. That does not help decrease the inflation rate.
It's going to increase it. So that's so you hear
(22:58):
the word tariffs in the market for you out a
little bit about inflation, which would make mortgageates. If inflation
continued to rise at a higher pace than what we're
trying to get it to do, then mortgage rates could
go up. And so yeah, we don't want that. We
don't want that. So you're you see all these balancing things.
We're looking for jobs, reports, looking for inflation, but we're
talking about tariffs that could cause more inflation. So I mean,
we're it's it's really reacting knee jerk reactions on a
(23:22):
daily basis. But we're seeing some good technicals in some
good form there.
Speaker 1 (23:25):
So anyways, have you thought about, you know, vacationing in
the Gaza Riviera.
Speaker 3 (23:29):
You know, here's gorgeous this time of year.
Speaker 1 (23:32):
Oh my lord, interesting times. We live in interesting times. Hey.
For all of your real estate needs, go to Gustigulisgroup
dot com. To get pre qualified for a mortgage, go
to brad Smith loans dot com. Thank you so much
for joining us. We hope you have an amazing week
and wish me luck on my surgery.
Speaker 3 (23:51):
Wishing you luck on your surgery and we'll figure out
the plan for next week as well.
Speaker 2 (23:55):
Figure it out all right, y'all, Take care,
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